7 essential qualities for a qualified BTC miner

Many novice miners often ask me how to quickly get started and become a qualified miner. I personally think that you need to have the following 8 qualities:

1. Understand BTC

Mining is a business with a certain direction. Before participating, you must read the BTC white paper and consult relevant financial, economic and philosophical materials. Through learning, you can make yourself independent. Those who follow the crowd will not have good results in any industry.

The following problems are mainly solved through learning:

1. What is BTC?

2. What are the core reasons why people recognize and support BTC?

3. After self-communication, what will be the current situation and future of BTC?

4. Why does BTC have to be mined?

Welcome to leave a message in the comment area and let's discuss together.

2. Ability to calculate and monetize mining income.

1. Use the mining revenue calculator to calculate the static revenue per T of computing power by inputting the mining machine computing power, electricity cost, and mining pool handling fee.

Mining income calculators are available in many mining pools, such as AntPool, FishPool, CloudPool, etc.

2. Be able to download and use a Bitcoin wallet, and keep the wallet key to ensure property safety.

Useful wallets include imToken, Bixin, Duomi Wallet, etc.

3. Be proficient in exchange registration, deposit, withdrawal, trading and other related operations, as well as OTC trading realization.

Common well-known exchanges include Binance, Huobi, Tokenup, etc.

3. Ability to choose and purchase mining machines.

A good mining machine must be stable, low in power consumption, and relatively high in computing power. This is the direction that all mining machine manufacturers strive for and the core factor behind miners' purchase decisions.

1. Pay attention to the stability of the mining machine

2. Pay attention to the computing power of the mining machine

3. Pay attention to the power consumption of the mining machine (power consumption)

In addition to the above three points, the after-sales and maintenance costs of mining machines are also crucial.

Generally, professional ASIC mining machines, placed in a mining factory with higher standards, have a lifespan of 2 years without any problems.

In addition to paying attention to the warranty terms of the mining machine, you should also pay attention to the core components of the mining machine, such as the replacement cost and maintenance cost of the hashboard and power supply.

4. The ability to choose stable mines

To truly make stable money in mining, choosing a mining factory is of utmost importance. The reason is very simple. You just need to spend money to buy a mining machine. If you buy a new machine of a brand, there will generally not be any big problems.

But the starting point of a mine is people, and it uses the country’s energy - electricity, so it is not that simple!

In short, it depends on the following aspects;

1. The strength of the mine. The bigger the mine, the more stable it is. The reason is very simple. People who invest in mines are also considering their investment risks!

2. The best relationship with the power supplier is the State Grid Power Company that has gone through a full set of approval procedures and pays taxes to the government. The second best is the mine plant that the power supplier has invested in and built together.

3. Pay attention to the geographical environment where the mine is located to see if there are potential natural disaster risks, such as mudslides, floods, landslides, etc., which may cause the mine and mining equipment to be destroyed.

4. Pay attention to the construction standards, whether the materials used in construction are of good brand, and whether the dust prevention, heat dissipation, network and fire-fighting facilities have been effectively solved. Otherwise, it will not only affect the coin production, but also the life of the machine!

5. Is the mining machine operation and maintenance team professional? Is the team assessed by whether the mining machine computing power meets the standards? The core problem that a good operation and maintenance team solves is that in addition to the stable operation of the machine, the computing power must meet the standards.

6. Compare several mines and communicate more with veteran miners. Ask them for advice humbly!

Of course there are many more. It is not easy to choose a good mine. If you continue to follow me, I will write a special topic on choosing a mine. It must be full of practical information. I believe that after reading it, you will no longer be confused and can effectively avoid more than 90% of potential risks. Looking forward to your comments!

5. Improve mining efficiency by optimizing software and hardware.

The operation of the mining machine is the result of the synchronization of hardware and software. In most cases, the same model and parameters of hardware can improve work efficiency by using software. Hardware usually has some potential that has not been released.

If you are a big miner, you must think in this direction and take action, which will definitely increase your profits!

When choosing relevant software, we should consider the following three points;

1. Is there enough stability?

2. Is it helpful to improve computing power?

3. Does it affect the life of the mining machine?

Choose a cost-effective one from the above three aspects!

6. Ability to select mining pools

As we all know, miners need a mining pool to mine. The mined coins first go to the mining pool's wallet, and then the mining pool distributes them to each miner's wallet. The mining pool charges a handling fee.

Mining pools are a physical principle. As long as you are not a bad programmer, the technology is the same. The only difference is the handling fee and whether it steals the miners' computing power.

So when choosing a mining pool, try to choose a large one with reasonable handling fees. Don't try to be cheap or believe in promotions.

As for stealing computing power, it is still a common phenomenon. We need strong competitors to enter this industry to regulate it. I believe it will happen.

7. Ability to control maintenance costs

After you buy a mining machine, it will go through birth, aging, illness and death just like a person. Since the mining industry is still in the stage of huge profits, the warranty period of mining machine vendors is basically half a year, so after you buy a mining machine, it is certain that there will be malfunctions, and if it breaks down, it must be repaired.

Repairs involve costs and risks.

1. Usually pay attention to good maintenance companies, preferably mines with on-site maintenance.

2. Pay attention to the quality of the power supply used for the mining machine. Most mining machines have problems and low computing power because of the poor quality of the power supply. The power supply of the mining machine is equivalent to supplying energy to the mining machine.

It is recommended to use an official power supply manufacturer or one that focuses on quality. When changing the power supply, do not think that the machine is old and can be a little careless. If the power supply is not good, the probability of the machine having problems will increase geometrically. This money cannot be saved.