Do you really need an expensive $10,000+ rig to mine bitcoin or can you do it from your desktop? What are the system requirements for mining bitcoin? Is it possible to mine satoshi’s instead of stack them? Instead of having to mine an entire bitcoin, can we mine a satoshi instead, one satoshi at a time? Let’s make that happen lightning network.
72 sats \ 4 replies \ @siggy47 2 Jul 2023
I think you need to learn the difference between the base layer bitcoin network and the lightning network. You can take a course and earn some free sats too:
https://mailchi.mp/b4a28e31041a/qd6tc53wb4
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0 sats \ 3 replies \ @lambinash37 OP 2 Jul 2023
Hey thanks for the link, I just signed up for the free course. I do understand that Lightning works on micro transactions and uses little energy, while mining a bitcoin needs a lot of energy to do so, and some bitcoin blocks in the layer-1 are huge and could take years to complete. That much I get, but I’m really interested in how to get started and how to mine, and if it’s possible to mine portions of coins or do you have to mine an entire coin to “claim your prize”. Some blocks are worth 6 btc while others are more and worth less. Is it possible to mine fractions of btc as well or will it always be multiples of 1?
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360 sats \ 1 reply \ @siggy47 2 Jul 2023
I am by no means a mining expert, but, trust me when I suggest you learn the basics of bitcoin before jumping into mining. There is a LOT to learn. I think you are off to a good start earning a few sats here on SN. Next you should listen to some podcasts like @kr 's on the fountain app, where you can also earn sats, and then decide if you want to get into mining.
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0 sats \ 0 replies \ @lambinash37 OP 2 Jul 2023
How do you feel about NiceHash? I noticed something at the latest bitcoin conference in Nashville and was looking into joining their sharepool, I have been stacking sats on fountain for a while now. After listening and earning, I am definitely interested in the mining as well. Thank you for the sharepool ideas below as well!
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0 sats \ 0 replies \ @ek 2 Jul 2023
You can join a mining pool so you don't have to mine an entire block yourself.
But looking at your questions, I agree with @siggy47. You need to do some more basic research yourself first.
Additionally to what @siggy47 suggested, you can take a look at https://en.bitcoin.it/wiki/Mining for some quick information about how mining works.
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0 sats \ 0 replies \ @gnilma 2 Jul 2023
This is the mining section from the book Mastering Bitcoin. It is a very detailed explanation of how bitcoin mining works. I suggest you give it a read and you will understand how bitcoin mining works.
I also suggest that you don’t try to mine until you understand how it works, how the market is doing, and what it takes. At least, if your goal is to make money / be profitable. Many people have lost money trying to mine, and many of them said that they would have gotten much more sats if they had just bought bitcoin instead of trying to mine it.
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0 sats \ 0 replies \ @crrdlx 2 Jul 2023
A couple of great resources: https://learnmeabitcoin.com/ and https://www.bitcoinsimulator.tk/blockchain?chain=public which teaches how Bitcoin works by running a simulated blockchain.
To answer your question, no you can no longer mine from your desktop. A coin I've played with (mostly for learning) that can be mined from your desktop (CPU mine) is Myriadcoin at https://myriadcoin.org/ It's actually pretty OG, from back in 2014.
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0 sats \ 0 replies \ @nymatix 2 Jul 2023
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