Cryptocurrency Mining For Dummies – FULL Explanation
In this video, I explain to you what Cryptocurrency Mining is in plain English and I also go over the main impacts on your profits, different types of rigs, and as well as EIP-1559 and ETH 2.0.
⌚ Timestamps:
00:00 – Intro
00:33 – Cryptocurrency Explained
02:10 – Mining Explained
02:23 – Proof Of Stake vs Proof Of Work
02:23 – Proof Of Work In-Depth
04:02 – Different Types Of Mining Rigs
06:04 – Different Types Of Mining Services
09:03 – What Impacts Your Mining Profits
14:50 – Giveaway Winners – CONGRATS!
16:17 – EIP-1559 & ETH 2.0
19:01 – Wrap-up & Outro
Congrats to the giveaway winners!!
⭐GPU Mining Rig Buying Guide:
⭐Ways To Sell Crypto:
⭐Ways To Buy Crypto:
⭐Where To Store Your Crypto:
🔗 Links & Resources:
• BitsBeTrippin Video:
• Vote here for the EIP-1559:
• ASICs Profitability List:
• Proof Of Stake Info:
• Coins Market Cap:
• Mining Pool Stats:
• Hashrate Explanation:
• DAG Size Calculator:
• Ethereum Block Rewards:
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⚠️ PLEASE BEWARE OF SCAMMERS IN THE COMMENT SECTION! ⚠️
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🏬 Where I buy my Hardware From:
💻 Recommended Software, Wallets, Exchanges..:
📹 Check Out Our Playlists:
🌐 Mining Chamber Website:
👜 Mining Chamber Merch:
🔥 Our Recommended GPUs – Ranked in order
[Check your local market apps for better deals!] – (Offer ups, letgo, Kijiji, Craigslist, etc.)
🟢 RTX 3060 TI | On Amazon |
🟢 RTX 3080 | On Amazon |
🟢 RTX 3070 | On Amazon |
🟢 GTX 1660 Super | On Amazon |
🔴 RX 5700 XT | On Amazon |
🔴 RX 5600 XT | On Amazon |
🔴 RX 5500 XT 8 GB | On Amazon |
🔴 RX 6800 XT | On Amazon |
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Let us know if you have any questions in the comments below or chat with us on our Discord server.
Thank you everyone!!
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Disclaimer – This is not financial advice – please do your own research. Everything is for entertainment purposes and from our personal experience.
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#gpumining #cryptocurrencymining #cryptocurrency #bitcoinmining #cryptomining #cryptominingexplained #bitcoinminingexplained #gpuminingexplained #proofofwork #miningprofits #miningexplained #appartmentGpuminingrigs #CryptoMiningAtHome #bitcoinmining #bitcoin #cryptocurrency #cryptominingrig #ethmining #RadeonVIIMiningRig #GTX1660TIMiningRig #RX580MiningRig #GPUMiningRigs #Hashrate #CryptocurrencyMiningFarm #miningchamber
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Hey everyone! ~ hope this video helped clear out some confusion or educate in the slightest bit! <3 There is a new thing that is quiet interesting and it is Proof of Coverage through Helium Hotspot Mining. I covered it in a video recently and I suggest checking it out, it will be worth it 😉 https://youtu.be/oIpk4QaSbJ8
Also covering Proof Of Space And Time Mining very soon which you will not want to miss! Make sure to subscribe so you don't miss it <3
Love you all 3000
This is definitely not "for dummies"
So now that it is about to be 2022, do you think we should mine ETH? And when do you think they will switch over?
i am from texas can assure you this platform worked well
How do you manage your electrical and broadband infrastructure at home? Did you have to install a larger A/C system because of the additional heat output in the server room? I have so many questions about this- just learning but so far it's pretty impressive. Thanks for the content
Why is it called mining? Is there crypto just floating around on the internet or are you buying the crypto?
Bruh I can’t get 1 gpu while you guys have hundreds.
Good explanation, thanks.
You are the most beautiful and wonderful thing that has ever happened to me. I'm so lucky to dealing with them
You are the most beautiful and wonderful thing that has ever happened to me. I'm so lucky to dealing with them
You are the most beautiful and wonderful thing that has ever happened to me. I'm so lucky to dealing with them
Getting a way to make income without having to leave home isn’t exactly as easy as you all think is , talk is cheap and it’s sure said than done, I have my source and i would rather stick to that, it pays well, even my step dad quickly join this team for quick bitcoin mining before it’s too late
Getting a way to make income without having to leave home isn’t exactly as easy as you all think is , talk is cheap and it’s sure said than done, I have my source and i would rather stick to that, it pays well, even my step dad quickly join this team for quick bitcoin mining before it’s too late
so those randomly generated puzzles or whatever, who exactly are they being solved for? are they a problem someone else is facing, or is it just a system of continuously awarding money to whoever happens to solve it??
Cant just stop recommending him enough for his tireless efforts and his tremendous job done by this people truly the best
I want to mining crypto but don't know what type of PC I should buy
All my life I can't stop to admire the way you put a smile on me and my household faces… I'm grateful
All my life I can't stop to admire the way you put a smile on me and my household faces… I'm grateful
I really appreciate your tremendous work, to the name mentioned above, keep on the good work, he got my bills cleared successfully
I really appreciate your tremendous work, to the name mentioned above, keep on the good work, he got my bills cleared successfully
This crypto will be the death of civilization…. This new generation F's up everything – you have been warned!
Great Vid. Thanks
Thank you
Still clueless…
No one does it better thank.☝️ that dude help me while everyone else trying to scam I got 0.5btc from them on my blockchain wallet
No one does it better thank ☝️ that dude help me while everyone else trying to scam I got 0.5btc from them on my blockchain wallet
Omg this is so thorough, excellent information and explained to detail video. So greatly appreciate
Is there Anyway I can mine to get enough money to upgrade the setup? I’m trying to get a 8 gpu farm going like in ur video. I’m currently using my main pc build to mine. (Has a rtx 2080ti gpu), and my laptop which has a rtx 1070 gpu. But for obvious reasons I don’t feel comfortable leaving that on 24/7.. which is why I want to mine to get enough to upgrade n get the 8 gpu farm going so I would be able to leave it on 24/7 while checking on temperatures of course. Is that possible? Or I should just save up for it while doing some mining like I’m currently doing?
🔌Thanks so much for helping me manage my account and get me $10,000 💱
🔌Thanks so much for helping me manage my account and get me $10,000 💱
Think competing systems of power perse. Think sexosocioeconomic dysfunctional pathology, under ever increasing duress. Think blue and white collar criminally minded conspiracy. Think continued chaos without order, from here to eternity and to infinity and beyond, so to speak, without the correct convergence and confluence of consciousness. Collective consciousness plus social defeat equals dystopia. Collective consciousness theory. It's easier than you think, don't make it harder than it is.
Think competing systems of power perse. Think sexosocioeconomic dysfunctional pathology, under ever increasing duress. Think blue and white collar criminally minded conspiracy. Think continued chaos without order, from here to eternity and to infinity and beyond, so to speak, without the correct convergence and confluence of consciousness. Collective consciousness plus social defeat equals dystopia. Collective consciousness theory. It's easier than you think, don't make it harder than it is.