As making a choice and mining a crypto coin
In the post office box of Announcements (Altcoins) of Bitcointalk we can see the information of all the coins that are about to go out. Here he would help us if we know English, although with the translator of Google we can live together. Equal for Twitter I will take upon myself to announce when I see a promising coin.
Getting a worthwhile coin carries a little time, since many are several characteristics that make a coin project out more than another one, but it looks for on top:
Emission: It is the quantity of total coins that will exist, in this case we have to look for a coin with a medium emission to drop (less than 50 million, if they are less than 10 much better), since when being a low emission, the coin is odder and therefore
more coveted.
Developers: He looks for a coin that has a developer or group of developers that keeps constant contact in the same one thread of her, since this believes confidence in the community. If the aforementioned developer is known on the set or he offers his personal details much better.
IPO DELICIOUS and premine: The IPO are initial letters in Englishman of Initial Public Offering, what Initial Public Offering would be to the Spanish translated. This is a way to collect on capital for the developers of the coins that consists in selling certain number of coins to a fixed price established, with the promise that once the coin begins to mine itself and to bid prices, will be of value much more. The other term is premine (sapped ERP), this refers to a certain amount of coins that will be mined by the developers before the coin can be mined by the people, most of the time they promise that these coins will be used to pay developers, to give rewards whom they make out translations or publicity of the coin and for giveaways to be able to give to know plus the coin; Although in a lot of cases only it is used in order that the developer acquires money once the coin enters an exchange. In this subject a coin with 0 looks for always IPO and 0 premine, although some premine can be accepted or of IPO if has interesting characteristics and if developers present a well-structured plan of business. Several coins have had IPO DELICIOUS successful, however generally they are the exception and it does not rule it.
Algorithm: Due to the great quantity of power of mining that have ASIC (SHAH 256 and Scrypt), algorithms look for anti-ASIC, since they believe one sensation of equality in mining and a distribution a little more just (although all the same there are huge farms of GPU).
Specific properties: Something that highlights the coin like anonymity (fashionable in these moments), games, stores, something than him value-added to the coin. It is recommended that thes
e characteristics be implemented at the moment of throw or very nearby to it, since have arrived coins that promise villages and castles, achieving creating great expectation in the community, in order that at the moment of being listed in a money-exchange office to sell the whole pre-mining or the bottom of developers and disappearing without trail, killing instantly the coin
Consent: What is necessary to see is finally the disposition of the people toward the coin, seeing thread of a forum as he develops and if users and pools show interest in her. At the same time serve to keep an eye out for any trick or fraud (fairly commonplace these days), that the developer can be making.
As they will see work is something that has been and it is not an exact science but with time rhythm can be taken to him. I will try of announcing for Twitter the coins that seem more interesting for me but if some member has some good piece of information it would be good for me to share it also, between more eyes and heads in this easier to achieve something positive.
Now then let's say that we elect a coin, she promises, has all characteristics that we look for, the community looks moved and writes a lot on its thread, a lot of pools get ready for the throw; That we make?
First we make a choice one Pool, in the first one after of the threads of the coins the list of pools always is that will give the coin support.
Signing up in the Pool: I am simple where you establish your user name, password and correlated mail. Some pools order confirmation by mail.
Create your Workers: Right after having enrolled you confirmed in the Pool, you should enter to the Pool with your data and addressing yourself to Account/My Workers, there inside Add New Worker's option is, where we should give him a name and password for our Workers (workers) to get yourself easier life creates 2 or 3 workers and you put x like password, this is only in order that the Pool recognize that the miner is yours. The way that the workers get so-called your name of usuario.el is name of the worker, for instance if our user is called Peter and 2 workers, calls create 1 and 2 these would remain that way
Name ED the Worker Password
Pedro.1 x
Pedro.2 x
As I told you previously, do not make your life difficult with this only he names the workers 1, 2, 3 and x of password. Save this information need her later on.
Direction of the Pool: Right after having registered your workers you should be heading for the option Help/Getting Started. There give you the way of initializing your miner to connect you to the Pool, example:
. Sgminer or stratum +tcp://east1.us.stratum.dedicatedpool.com - k darkcoin -:8031 p WorkerPassword - or Weblogin.WorkerName -
But since in our case we go to produce miners only need the direction would be this:
Stratum +tcp://east1.us.stratum.dedicatedpool.com:8031
It is good at signing up in 2 pools, in order to have a second direction in the event any problem happens to the first one not to lose time of mining.
Ok, we already have our chosen coin, we have the annotated launch date, we are registered in he them Pool chosen, our created workers and our direction of annotated connection and is he coming closer the hour of the throw THAT WE DO?
It is advisable to see the throw of the coin, to see that the Pool the chosen pools get connected, this we can see it in the post office box of Dashboard of our Pool, which will say our potency about mining, discovered blocks, blocks that passed, etc. If the the Pool gets connected well and in the thread of the coin there are no notifications of errors, or anything else our miners can pay rent. This time of study of the throw establishes it apiece, if you expect more you can make sure that the coin runs perfectly, but you start a higher difficulty, what means less profit; While if you do not wait much or you do not wait, errors, connection problems or another error that he would do can happen risky our investment, this at the risk of a taller profit since you would mine a lower difficulty. A waiting of at least 1 2 hours is recommended to decrease risks.
In this port queuing time it is advisable to transfer the BTC that we will use for to produce miners. In the web they have begun to the sites proliferate where the people let out his equipments of mining, and ask you. Because they let out your equipments if they themselves can mine?, In this case the answer is simple, they prefer to play sure, instead of being seeing new coins, reading ads, operating on exchanges, etc. They prefer to charge a safe tariff and that you are the one that does all the work. Of these sites I can recommend you these 3, I use them regularly with 0 complaints and excellent results:
MiningRentals
LeaseRig
NiceHash
It is very easy to begin in these sites, only you should get registered, looking for inside your account the direction of your purse Bitcoin in the page and you transfer funds there. But before doing that make sure to see as offer the best prices for that moment, the difference entity one or the other the place is generally very low, but sometimes they have got good offers. Ad hoc the type of protocol of the coin to mine (X11, X13, Scrypt N, etc.) And there we see the list of available miners and your costs.
Once determined the miner and the renting passage of time you should refill the options of URL, Username and Password with the data that you saved of the Pool, remaining something like that.
Pool - MundoCrypto
After having refilled the pools and chosen the renting passage of time we give you Hire or producing and I list! In around 5 minutes or less we can check our Pool and seeing our miner working.
Right after this we can check every so often if our miner is working OK and checking our coin thread to see the development of the same. Being determined by the boom that had generated the coin can be listed in the money-exchange offices between 2 to 7 days right after having gone out. This part also is important, that's why we have to be concerned about the thread of the coin. The money-exchange office that moves faster to place new coins is Bittrex, but there is other money-exchange offices of smaller volume like c cex that also places new coins recently gotten.
Once the coin comes out listed in an exchange he begins the race to belong to the first in taking your coins there and to sell them. If you manage to belong to these you can take out a good slice, but wait, depending of how evaluate you can sell only certain amount to recover what you invested in the miners and a margin of profit or to sell everything and to forget you of her to your coin.
Until now this sketch has worked for me, only I have had some setbacks with some coins that I should not have mined in the first place but in general I always have gotten opportunity to recover what's inverted.
I hope that this guide helps them a little in this world and that we can make the community and joining up for the benefit of all grow up.
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