If you are a computer nerd and you enjoy the challenge of troubleshooting both hardware and software, plus getting the formulas right to achieve a certain result – like mining crypto for free – then this article might be of interest to you.
Now when it comes to mining virtual currencies, we all have to start somewhere, and for most people that have turned their network into a successful crypto mining station, they began with old equipment fumbling their way through software and hardware in order to find that magic formula.
What is the magic formula for crypto mining?
Now being brutally honest, the formula for mining digital currency is money! The old saying goes “money goes to money”. You need a lot of processing power to mime something like Bitcoin and that isn’t cheap. Albeit, there are ways to start your crypto mining network at a reduced cost which we will go into more detail below after we have built a picture of what crypto mining entails.
So, we have covered the money aspect. You need to invest in computer equipment with decent processing power. On top of this, try not to overlook that fact that your electricity bill will increase. It seems like an obvious point to make, and that is all that equipment needs electricity to function, but you would be surprised at how many people overlook the increase in electrical costs.
Now the second ‘magic formula’ is time. You need plenty of time to be able to learn how to get your crypto mining network set up to function smoothly and efficiently. This is the reason why we mentioned in our introduction section that most crypto miners started their network as a hobby. i.e. they are computer nerds that enjoy the challenge of solving puzzles – in this case, an electronic puzzle that accesses blockchain networks!
Lastly, you need commitment. That means committing yourself to learn about how mining works, whether it is even worth mining certain cryptos, and how to set up a crypto mining network that focuses on either a single cryptocurrency or if you want to test mining several cryptos with the view of choosing one to commit to.
How can you get started with minimal costs?
Now unless you are already familiar with crypto mining, then you should not be going out there are dropping large sums of cash of computer equipment. You need to make sure you have the time, commitment, and money to keep your network running.
One of the best ways to start is scrounging old computer equipment. Yes, get old computer equipment (because you will be using Linux via a device called Xtra pc). You will also need to scrap all your Windows operating systems in exchange for Linux. This is because Linux uses much less processing power as an operating system compared to any other OS out there.
You can use the Xtra pc device to plug into any computer and boot the computer, or laptop for that matter, via the Xtra pc USB stick. This way you will not have to take up precious time deleting Windows and installing Linux on some of the machines. Another reason people use Xtra pc os a bit of cheat! Some miners at a university use the extra pc sticks to reboot PCs in their university in a rarely used IT lab where the computers are all dated!
What agreement they have with the professor is a mystery, but from first-hand experience, these guys are doing it and getting away with it. It must be legal because I am assuming the professor would not allow this to happen. Possibly a charity focused crypto mining operation. The fact is, this idea is very clever because the original operating system on the university computer remains the same while the Xtra pc USB stick is where the crypto mining software is stored.
Now the reason we suggest Xtra pc is because this device is perfect for when you are just getting started as a crypto miner. You may not successfully mine any crypto, but you could crack the formula needed to do so, and then you can go out and start to invest in the equipment you need to turn your network into a virtual money-making machine!
Check out more about Xtra pc here a.k.a. extra pc here.