Do you need to have large mining rigs to earn money on cryptocurrencies? Complex hardware that is expensive to buy and that produces so much noise that you cannot keep it in your living room, while it runs?
No! You can mine with much smaller units. You can mine, for example, on smartphones, in the web browser, and on small mini-rigs that don’t consume more electricity than a normal laptop does. It is these ways of mining that I am going to be blogging about. In short: I am blogging about minimining.
Minimining is a notion that means that mining happens on a mini scale. It’s not totally clear where where one can draw the line between minimining and “normal” mining. I let this line to be a little blurry, so it will be easier for me to test different approaches to mining without limiting myself.
In general it should be easy to get started, it must happen on a small scale and generate small earnings.
Don’t expect to earn millions – the goal is not to earn big money. The goal is instead to test different ways of minimining and evaluate their complexity, return on investment (ROI) and feasibility. Thanks to minimining more people can get interested in cryptocurrencies and hopefully contribute to their future development.
To get started with minimining is not difficult. You just need a mobile phone, a tablet or a computer. I myself have chosen to complement this arsenal with a mini Dash miner (I will write more about it in later posts).
All my life I have seen return on investment as something relative. It is something that must be represent by percentage points, but also in terms of risk. To be getting 2% per year on a savings account in a bank with low risk is considered high ROI in Sweden. To get 5% on your investment in cryptocurrencies with high risk is a low ROI.
To “earn” USD $5 per month from a miner that cost USD $500 is not a good ROI – if the miner breaks down within the first 100 months…
Some of my posts will be about balancing ROI with risk and the initial required investment. Maybe I will be able to demonstrate that minimining is actually more profitable that other ways of mining – at least regarding the risk levels and the percentage of ROI.
Here I will introduce the projects that I have going at the moment. You will be able to follow these project on my blog.
I also have a small Dash miner. It doesn’t really belong to the “minimining” category, but it will be a complement to my minimining resources.
I will be blogging about – and explaining how you can mine – different cryptocurrencies. Among them:
Dash – where I cover my Dash miner’s operation
Electroneum – mining on smartphones
Manna – where I will be covering how you can earn free Manna and how you can mine it
Monero – which you can mine in a web browser
JSECoin – which you can mine on web pages
Do you want to read about other cryptocurrencies? Please leave your tips in the comments below. If you yourself have written a guide about mining or “minimining”, please leave a link to it too.
@minimining