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Ian Parker
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Ian Parker   My Press Releases

How to mine for cryptocurrency

Published on 9/4/2018
For additional information  Click Here

How to mine for cryptocurrency

 

 
The first time I was asked the question about how to mine for cryptocurrency, I was to say the least a little floored, I’m guessing that most people really have very little idea that cryptocurrency is actually mined
 
The best answer I was given of how to mine for cryptocurrency was from a leading IT engineer and a jolly good all round sort of guy, namely Angelos the genius behind Exevior and of course the co owner of BeepX coin et al
 
Angelos suggested that I could should I so desire go to the trouble of building my own mining rigs, in-fact he would go so far as to actually provide all of the technical equipment for me to do such a project. This I thought would be a brilliant idea... then again, quite possible not! You see mining for cryptocurrency is not as easy as one might think, yes in the early days of Bitcoin, those early pioneers clearly thought it would be a jolly wheeze to set up a (crude) mining rig and start mining for Bitcoin. After all it’s easy when the coin is not popular, as Bitcoin was in it’s early days.
 
It was pointed out to me that you really need a greater degree of expertise in IT, more than simply knowing how to reboot a desk top PC, but more about how to build, and maintain multi GPU systems in terms of hardware and indeed software. Then you have such jolly thoughts as cooling the whole system and last but by no means least, the actual cost of the electricity and if you are on a domestic tariff, can prove quite costly..
 
So logically, cloud based mining for cryptocurrency has to really be the way forward, not only in terms of creating a system myself, but maintenance and the cost of running the damn thing, 24 hours a day.. ouch!
 
The decision I took was to join the cloud based co-op system and to ask the clever people to actually mine for me and for me to simply wait and trust that the value of the cryptocurrency I was “mining” was indeed looking to increase in value over the period of the 2 year contract.
 
As I write this article I’m on 112 mhps a respectable speed for mining. The company is currently only mining Ethereum and we will be doing that for a 2 year contract. Life is si much simpler when you want to mine for cryptocurrency, yet do not really have the knowledge, time or financial resources to go it alone.
 
So.. if you really want to mine for cryptocurrency, well that easy simply go for cloud based mining and let someone else do the hard work.. enjoy!

 
Want to know more? Click HERE
 
Wishing you a wonderful day
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