Slow but effective mining as a learning tool

by duozmo   Last Updated April 16, 2019 03:27 AM

Most discussion about mining is from the perspective of serious Bitcoin users who are trying to profit from it. I’m curious to try mining, only to experiment and become more familiar with cryptocurrencies. I’m not interested in being profitable over the long term, but I am interested in verifying success, namely in seeing my wallet balance nudge a tiny bit.

How can I best use my regular computer (~18Mhash/s GPU, via this) to mine Bitcoin or Litecoin? Specific questions:

  • If joining a pool, a centrally coordinated one or a P2P pool?
  • What mining pool payment system(s) would make the most sense?
  • I’ve got cgminer operating. Any parameters / tweaks I should use?

From what I’ve read, with a slow hash rate, it’s easy to just waste all your compute time on dead pool shares and whatnot. How can I avoid that? Is there anything else I should watch out for?



Answers 3


If it's for learning I recommend starting with the simplest options and then moving up to more elaborate settings.

Start with a centralized pool with PPS payments. Then you can move on to any other hopping-proof method such as PPLNS or DGM. Then you can try p2pool.

Having a low hashrate should have no affect on the relative portion of stale shares.

Meni Rosenfeld
Meni Rosenfeld
July 21, 2013 19:31 PM

I created my mining pool, BitMinter, to be very easy to use but without hiding the details of bitcoin mining. It's designed to be easy for beginners to get going.

The pool has a miner that needs no installation beyond java from java.com. So you will be mining in no time. I see you have cgminer already set up - that works too. :)

The PPLNS reward system we use exposes you to the nature of bitcoin mining. You will see blocks being found and coins paid out when that happens. This way you can see how mining really works, whereas a PPS reward system hides this from you.

Dr.Haribo
Dr.Haribo
July 23, 2013 20:44 PM

You can also "mine" with masternodes. There is a project called SWYFT (formerly SATC) that has one click hosting for masternodes. VERY easy. The are also about to release an augmented reality game that will allow you to find and earn different coins while also learning about different aspects of cryptocurrency and cryptocurrency projects. Added to that they started Authenticate to help new investors do their due diligence before jumping into a project. It's worth taking a look. Check out their Discord channel:

https://discord.gg/vexmktX

They have a GREAT team behind them that can and will answer any questions you have. Definitely worth a look.

Tom
Tom
April 16, 2019 03:06 AM

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