Crypto Mining for JoS Longevity

[Lurker No More]

After reading HPHC recent post regarding finances and donations in Crypto only, I decided to put a basic guide together for crypto mining so that those who are interested & able, can help with our efforts to sustain ourselves. I’ve included info, links & videos for the different approaches: CPU mining, GPU mining & ASIC mining. As well as how to avoid banks, maintaining privacy, what exchange to use for trading etc. I didn’t include wallet info as that is a personal decision.

This is not an all inclusive guide but rather a starting point. There are many excellent crypto mining channels on the web; I found these to be straight to the point. My hope is other JoS family members can add to this and in the long-term, we all benefit.

I want to dispel any notion that crypto mining will be dead after Ethereum goes POS (proof of stake) as there are many other algorithms that will vie to replace it. Simply perusing the channels below and their associated videos will validate my statement.

I'm aware not everyone has the same budget, therefore I'll provide low-cost to high-cost approaches. The videos provide additional links to where equipment can be purchased as well as purchasing advice. I realize no single person can pull it off, but if enough of us participate, the power of numbers will certainly manifest.

I searched through our forums and couldn’t find anything similar to what I’m posting here. That said, I apologize if I’ve missed something, as I certainly wouldn't want to duplicate a previous effort on this subject.

Cheers Family!!!

HAIL SATAN FOREVER!!!


To start with, a timely article:

https://www.coindesk.com/layer2/miningweek/2022/03/21/dont-call-it-a-comeback-the-unlikely-rise-of-home-bitcoin-mining/


An easy way to start mining right away is with CUDO MINER, also known as the one-click miner. Here you will be able to mine with both GPU & CPU if your hardware is supported. The nice thing is your CPU will default to Monero Coin (XMR) which is the ideal Crypto HPHC recently updated us on. There are other similar programs but this one is fairly user friendly. I’ve provided a tutorial and a link to the main site below.

Tutorial:

https://www.youtube.com/watch?v=lPm70DWUSTo

Main Site:

https://www.cudominer.com/


Next up is the cheapest and fastest approach to building a GPU mining rig. It is LINUX based and therefore more reliable and less load on your hardware overall. If you’re unfamiliar with LINUX don’t be alarmed; it’s actually easier and a lot less to remember compared to Windows; especially when mining crypto. While the tutorial uses HIVEOS for the setup, I’d advise you to use MINERSTAT or RAVEOS as they will allow you to avoid fees. MINERSTAT allows you to mine from any pool you like while RAVEOS is free if you mine on 2Miners exclusively. HIVEOS is superb, but unless you’re running a sizeable operation, the fees could add up.

Tutorial for an easy & cheap mining rig 1 & 2:

https://www.youtube.com/watch?v=JtUDJU6sKwo

https://www.youtube.com/watch?v=U3TbiGWvz5E

How to avoid fees associated with mining:

https://2miners.com/blog/how-to-get-payouts-for-ethereum-mining-without-fees/

How to set up MINERSTAT through 2Miners:

https://2miners.com/blog/minerstat-mining-os-review/

MINERSTAT video tutorials:

https://www.youtube.com/c/minerstat/videos

How to set up RAVEOS through 2Miners:

https://2miners.com/blog/how-to-mine-on-raveos-detailed-guide-and-mining-setup/

More details on RAVEOS:

https://2miners.com/blog/raveos-is-now-free-for-2miners-users-why-is-it-the-best-mining-operating-system/


Now I’ll provide a few tutorials for Windows users. Again, this is a bit more expensive but certainly just as effective.

Basic Windows mining rig build tutorial:

https://www.youtube.com/watch?v=4_A5e-5CcDs

Full list of mining rig parts tutorial:

https://www.youtube.com/watch?v=U4y-4kLCT_M

Another Windows mining rig build with less space tutorial:

https://www.youtube.com/watch?v=-OkLIlehibY


Last is ASIC mining. This is expensive but certainly worth learning about. Depending where you are in the world, this might be an ideal approach for you. I’m providing a link to VoskCoin as he is well known and is well versed in this aspect of mining.

https://www.youtube.com/c/VoskCoin/videos


Other good information for maintaining privacy and general Crypto knowledge:

Fiat to Crypto without a bank tutorial:

https://rumble.com/vrv9r0-how-to-buy-crypto-without-a-bank.html

His channel:

https://rumble.com/c/c-1245564

Crypto Exchange I recommend:

https://tradeogre.com/markets

 

[Mastermind]

For most people, crypto mining is not profitable due to high energy costs.
If one has access to cheap electricity, go right ahead.

 

[Henu the Great]

For most people, crypto mining is not profitable due to high energy costs.
If one has access to cheap electricity, go right ahead.

This is what I thought at first as well. The equipment would need to have very good efficiency or else you would be paying for the coins to be mined.

I recommend people to look up mining calculators to see if the mining would be profitable or not.

 

[Specter]

I advise anyone who would actually consider getting into crypto mining now to exercise caution as the supposed PoS merge nears its deadline, which is around the end of June. This will have an impact on the mining rate of other crypto currencies as miners transition towards other things to mine. No one knows exactly what's going to happen until it happens, and it's been shown that other crypto currencies do have this sort of domino effect. I don't think something like this should be addressed so lightly, I also don't see any mention of any after PoS mining. Not trying to fear monger as it's still very likely to maintain a profit while keeping electricity costs at bay, but something one should consider before putting large portions of money into this. Maybe the transition may not kill mining, especially how a portion of the mining hash for ethereum is ASICS (They will be stuck with a machine that can only mine one crypto, which is estimated around 30%).

There's been quite a lot of talk about alternatives lately, such as ASICS (expensive and energy consuming af), but one thing of note is cloud mining. Cloud mining is basically renting computing power from a third party source, with fees of course, and generate an income based on a percentage of money invested. I haven't gotten into this yet, but have been hearing from some others who did and have been having success but I will check it out for myself and make a follow up post on how it goes. There are some stories, however, of people having their wallets locked but, depends on which company you choose.

Speculation of what might happen after PoS, very informative. Go to 14:40
https://www.youtube.com/watch?v=oys26TCgD1o

 

[Specter]

For most people, crypto mining is not profitable due to high energy costs.
If one has access to cheap electricity, go right ahead.

You might be mistaken for Bitcoin ASIC's, which has a higher power consumption rate/cost than profitability. You probably don't want to be stuck with Ethereum ASIC's after PoS though.

There are many who've gotten into solar powered mining and are generating decent profits, provided they have the funds to set it up.

 

[Jack]

Thank you for your contribution my friend.

 

[Soaring Eagle 666]

For most people, crypto mining is not profitable due to high energy costs.
If one has access to cheap electricity, go right ahead.

This is what I thought at first as well. The equipment would need to have very good efficiency or else you would be paying for the coins to be mined.

I recommend people to look up mining calculators to see if the mining would be profitable or not.

Solar power is good option. A while ago I bought an emergency solar power supply, just in case. Since I have it anyway, why not put it to use mining coins for free, rather than letting it sit on a shelf and have the batteries go bad from lack of use.

 

[Jack]

" post_id=337176 time=1648019331 user_id=346]

For most people, crypto mining is not profitable due to high energy costs.
If one has access to cheap electricity, go right ahead.

This is what I thought at first as well. The equipment would need to have very good efficiency or else you would be paying for the coins to be mined.

I recommend people to look up mining calculators to see if the mining would be profitable or not.

Solar power is good option. A while ago I bought an emergency solar power supply, just in case. Since I have it anyway, why not put it to use mining coins for free, rather than letting it sit on a shelf and have the batteries go bad from lack of use.

Do you mean a off grid system ?

 

[Stonesofwisdom]

" post_id=337176 time=1648019331 user_id=346]

For most people, crypto mining is not profitable due to high energy costs.
If one has access to cheap electricity, go right ahead.

This is what I thought at first as well. The equipment would need to have very good efficiency or else you would be paying for the coins to be mined.

I recommend people to look up mining calculators to see if the mining would be profitable or not.

Solar power is good option. A while ago I bought an emergency solar power supply, just in case. Since I have it anyway, why not put it to use mining coins for free, rather than letting it sit on a shelf and have the batteries go bad from lack of use.

Where did you bought?

 

[Soaring Eagle 666]

" post_id=337176 time=1648019331 user_id=346]
Solar power is good option. A while ago I bought an emergency solar power supply, just in case. Since I have it anyway, why not put it to use mining coins for free, rather than letting it sit on a shelf and have the batteries go bad from lack of use.

Do you mean a off grid system ?

Yes.

Where did you bought?

I bought it from amazon.com. It's a USB charger battery pack with a bunch of fold-out solar panels on top. I had gotten it on sale for about $50, as a precaution so just in case civilization totally falls apart I'll be able to keep my phone and other small computers working. It's too small to really be profitable. In theory if I ran it all the time, I could make $1 per month. I mostly run it to keep the batteries exercised, and as an investment by mining newer cryptos like Arqma that have the potential to skyrocket in value. But the idea of mining with solar power can be very profitable. The best way is if you have solar panels on your house. Then you can use all excess power for mining, but throttle back when you want to watch TV or run the toaster.

 

[Lurker No More]

Greetings Family!

I wanted to provide an update for mining after ETH POS (as I mentioned in my third paragraph). Some of you will be familiar with Seb (if you watched the Windows tutorial links I provided). He has updated his outlook from his previous videos concerning ETH 2.0, even pointing out most ETH ASICS will be able to switch over to ETC algo. Anyway, I hope you'll find his latest update helpful, cheers!!!

https://www.youtube.com/watch?v=RZ_dQSfUUkw

HAIL SATAN FOREVER!!!

 

[Lurker No More]

Greetings Family!

I'm providing another update from, Seb. Although a relatively short video, he covers a number of other mining aspects (with links) to be aware of. I hope you find this helpful, cheers!!!

https://www.youtube.com/watch?v=y9-LuZIEBgk

HAIL SATAN FOREVER!!!

 

[Sakra]

Mining is still viable, there are some places where people will pay a premium for clean & freshly mined coins. Like 5x-20x. People just don't know where to look.

 

[serpentwalker666]

Mining is still viable, there are some places where people will pay a premium for clean & freshly mined coins. Like 5x-20x. People just don't know where to look.

If you don't mind, please make a post about this and share this information. I'm certain there are members who would be interested and find such information valuable.

 

[AFODO]

Back when this was popular and I wanted to try, the situation was that if you have a decent computer, even then you would mine like few bucks in a month. You need like a 5gpu setup for it to be kinda worth it, or some computer that was designed to mine. But you'll still need a year to be at 0.

 

[Sakra]

If you don't mind, please make a post about this and share this information. I'm certain there are members who would be interested and find such information valuable.

I mean the way it works is one transitions their mining pool address to the client near the payout period. That's how it works, clean taxable income without hassle. If you advertise in various forums you can find some willing, and it would be safe to use a middleman escrow service.

 

[ApolloAbove [JG]]

Back when this was popular and I wanted to try, the situation was that if you have a decent computer, even then you would mine like few bucks in a month. You need like a 5gpu setup for it to be kinda worth it, or some computer that was designed to mine. But you'll still need a year to be at 0.

Yes, it was magical. Cost of electricity is too high now compared to the profits, but this genuinely would have worked back in 2017, and I did it for about a year. Even better if you are mining on free electricity.