Peter Kent - Cryptocurrency Mining For Dummies

Cryptocurrency Mining For Dummies®, 2nd Edition

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Library of Congress Control Number: 2022938471

ISBN 978-1-119-88536-8 (pbk); ISBN 978-1-119-88537-5 (ebk); ISBN 978-1-119-88538-2 (ebk)

1 Cover

2 Title Page

3 Copyright

4 Introduction About This Book Foolish Assumptions Icons Used in This Book Beyond the Book Where to Go from Here

5 Part 1: Getting Started with Cryptocurrency Mining Chapter 1: Cryptocurrency Explained A Short History of Digital Dollars What’s the Blockchain? Where’s the Money? What’s the Crypto in Cryptocurrency? Public Key Encryption Magic The Basic Components of Cryptocurrency Where Does Crypto Come From? The Crypto Mines (Sometimes) Chapter 2: Understanding Cryptocurrency Mining Understanding Decentralized Currencies Exploring the Role of the Crypto Miner Making Cryptocurrency Trustworthy Reaching Agreement through Consensus Algorithms Looking at the Cryptocurrency Miner Making the Crypto World Go ‘Round Chapter 3: Building Blocks: The Transaction’s Journey to the Blockchain The Cryptocurrency Network Submitting Transactions Chapter 4: Exploring the Different Forms of Mining Proof-of-Work Algorithms Proof-of-Stake Algorithms Hybrid Proof of Stake/Proof of Work Delegated Proof of Stake Delegated Byzantine Fault Tolerance Proof of Burn And More …

6 Part 2: The Evolution of Cryptocurrency Mining Chapter 5: The Evolution of Mining Proof of Work Mining Evolution The Days of Solo Mining Pool Mining Cloud Mining Chapter 6: The Future of Cryptocurrency Mining Incentivization of Energy Exploration Continued Computational Efficiency Improvements Corporate and Nation State Participation The Mythical Miner Death Spiral

7 Part 3: Becoming a Cryptocurrency Miner Chapter 7: Mining Made Simple: Finding a Pool and Preparing an Account Understanding How Pool Mining Works Choosing a Pool Setting Up a Pool Account Researching Mining Pools Cloud Mining Working with Cudo Miner Chapter 8: Picking a Cryptocurrency to Mine Determining Your Goal Mineable? PoW? PoS? Researching Cryptocurrencies Going Deep Knowing That Decentralization Is a Good Thing Finding Out It’s an Iterative Process Chapter 9: Gathering Your Mining Gear Selecting the Correct Computational Mining Hardware Mining Equipment Manufacturers Finding a Wallet to Store and Protect Your Private Keys Where to Mine? Selecting a Viable Location Chapter 10: Setting Up Your Mining Hardware ASIC Mining Rigs GPU Mining Rigs CPU Mining Mining Software

8 Part 4: The Economics of Mining Chapter 11: Running the Numbers: Is It Worth It? Factors That Determine Mining Profitability Calculating Your ROI Chapter 12: Reducing Negatives and Gaining an Edge Profitability through Efficiency Knowledge Is Power Here Today, Gone Tomorrow Evaluating Your Mining Resources Chapter 13: Running Your Cryptocurrency Business What to Do with Your Mined Cryptocurrency Determining When to Sell Dollar Cost Averaging Tax and Your Mining Business Scaling Up?

9 Part 5: The Part of Tens Chapter 14: Ten (or So) Tips for When the Market Dips Have a Plan, Hedge Your Mine How Long Can You Last? Learn from Market History Don’t Panic! (Keep Calm and Carry On?) Buy the Dip Look for the Advantages Anticipate the Market Recovery Learn From Your First Dip Consider Market Volatility Switch to Another Cryptocurrency Stop Mining! Chapter 15: Ten Ways to Boost Your Return on Investment Doing Your Homework Timing Your Entry Playing the Markets Identifying Low Hash Rate Alternative Cryptocurrencies Mining the Start of a Chain Starting Small Scaling Choices Finding Cheap Electricity Cooling Efficiently Scoring Hardware Deals Chapter 16: Ten Types of Cryptocurrency Resources Cryptocurrency Market Trackers Mining Profitability Estimation Tools Cryptocurrency Reddit Pages Blockchain Explorers Data Visualizations Cryptocurrency Data and Statistics Cryptocurrency Wikis Cryptocurrency White Papers The Satoshi Nakamoto Institute A Cypherpunk’s Manifesto Bitcoin Guides and Walkthroughs Chapter 17: Ten Criticisms of Cryptocurrencies and Mining Energy Consumption Wasted Processing Scalability, Transaction Speed, and Throughput Coin Distribution Fairness Market Bubbles and Volatility Centralization Scams and Rip-offs Hardware Price Inflation and Scarcity Fire Hazards Neighbor Complaints