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Peter Kent - Cryptocurrency Mining for Dummies

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Peter Kent Cryptocurrency Mining for Dummies
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Find out the essentials of cryptocurrency mining
The cryptocurrency phenomenon has sparked a new opportunity mine for virtual gold, kind of like the prospectors of a couple centuries back. This time around, you need some tech know-how to get into the cryptocurrency mining game.
This book shares the insight of two cryptocurrency insiders as they break down the necessary hardware, software, and strategies to mine Bitcoin, Ethereum, Monero, LiteCoin, and Dash. They also provide insight on how to stay ahead of the curve to maximize your return on investment.
Get the tech tools and know-how to start mining Pick the best cryptocurrency to return your investment Apply a sound strategy to stay ahead of the game Find cryptocurrency value at the source From the basics of cryptocurrency and blockchain to selecting the best currency to mine, this easy-to-access book makes it easy to get started today!

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Cryptocurrency Mining For Dummies Published by John Wiley Sons Inc 111 - photo 1

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Cryptocurrency Mining For Dummies

Published by: John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, www.wiley.com

Copyright 2020 by John Wiley & Sons, Inc., Hoboken, New Jersey

Published simultaneously in Canada

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions .

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Library of Congress Control Number: 2019952296

ISBN: 978-1-119-57929-8 (pbk); ISBN 978-1-119-57947-2 (epdf); ISBN 978-1-119-57942-7 (epub).

Cryptocurrency Mining For Dummies
To view this book's Cheat Sheet, simply go to www.dummies.com and search for Cryptocurrency Mining For Dummies Cheat Sheet in the Search box.
Table of Contents
List of Illustrations
  1. Chapter 1
  2. Chapter 2
  3. Chapter 3
  4. Chapter 5
  5. Chapter 6
  6. Chapter 7
  7. Chapter 8
  8. Chapter 9
  9. Chapter 10
  10. Chapter 11
  11. Chapter 12
  12. Chapter 13
  13. Chapter 14
  14. Chapter 15
  15. Chapter 17
Guide
Pages
Introduction

Welcome to Cryptocurrency Mining For Dummies. Were here to help you enter the wonderful world of cryptocurrency mining. Of course, you dont need our help. You can just go to Google or some other major search engine, search, and jump right in. Youll find plenty of information to help you!

Hah! Try it and see. Itll be like drinking from the proverbial firehose youll drown in a flood of confusing blog posts, conflicting news articles, unintelligible wiki articles, misleading YouTube videos .

So thats where we come in. Our job is to break it all down into intelligible, easy-to-digest, bite-sized pieces that ordinary folk like yourself can read and understand.

About This Book

This book explains, simplifies, and demystifies the world of cryptocurrency mining. You find out what you need to know and do in order to decide if and how youre going to begin cryptocurrency mining.

In this book, we explain

  • How cryptocurrency mining works, and what its for (it cant just be a way for you to make money, right?)
  • The different algorithms and how they function Proof of Work, Proof of Stake, Delegated Proof of Stake, and more and what hashing is all about
  • The different types of mines: pool mining, solo mining, cloud mining
  • The different types of hardware: CPU mining, GPU mining, FGPA mining, and ASIC mining
  • How to pick the right cryptocurrency to mine
  • How to find and work with a pool mining service
  • How to set up your mining hardware and software
  • How to calculate your potential earnings (or losses!), taking into account network hash rate, your mining rigs hash rate, currency exchange rate, the price of electricity, and so on
  • Where to find a plethora of helpful resources to guide you on your cryptocurrency mining journey
  • And plenty more!
Foolish Assumptions

We dont want to assume anything, but we have to believe that if youre reading this book, you already know a few things about the Internet and cryptocurrency. We assume that you understand how to work online and work with personal computing equipment. We also assume that you know how to buy and sell cryptocurrency, how to work with exchanges and wallets, and how to keep it safe.

This alone is a complicated subject, which would take an entire book to explain. It is essential that you understand these basics; this book focuses on a more advanced subject, cryptocurrency mining, and we just dont have room to cover these basics. We recommend you check out Peters 8-hour online video course, which you can find at CryptoOfCourse.com ; but one way or another, its essential that you learn how to work with cryptocurrency safely, in a way that protects you from theft and loss.

Icons Used in This Book

This book, like all For Dummies books, uses icons to highlight certain paragraphs and to alert you to particularly useful information. Heres a rundown of what those icons mean:

Cryptocurrency Mining for Dummies - image 3 A Tip icon means were giving you an extra snippet of information that may help you on your way or provide additional insight into the concepts being discussed.

Cryptocurrency Mining for Dummies - image 4 The Remember icon points out information that is worth committing to memory.

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