Cryptocurrency Mining For Dummies – FULL Explanation | EIP-1559, ETH2.0

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!! Please send me a screenshot of your YouTube account here [email protected]

NerdGears – 2x $25 Gift Cards (US AND CANADA)
– Chris J _ US
– Let Me Try _ CA
GPURisers.com – 2x 6-Pack Risers 009s (US AND CANADA)
– C Reefing _ US
– Jeremigo _ US
AAAWave.com – 2x 6-Pack Risers 009s (US ONLY)
– rdybdahl11
– Stan Darsh
MineShop.eu – 1x $100 Voucher (EU)
– Metty Kapgen
RedPandaMining – $100 Value in Crypto – 50 each
– ok 3 0x03d03777aefba4017e18c5f53bcc28d231e2d807
– Kris 0x1179862285A31eb051b854855A5F02ebaeF766DD

⭐GPU Mining Rig Buying Guide: https://youtu.be/hNqs3Fn8TNo
⭐Ways To Sell Crypto: https://youtu.be/EDyXRf_Ug_U
⭐Ways To Buy Crypto: https://youtu.be/G6y2g_DSpaw
⭐Where To Store Your Crypto: https://youtu.be/Ltr_Llcg6GY

🔗 Links & Resources:
• BitsBeTrippin Video: https://youtu.be/rfU-Mm3L2Yc
• Vote here for the EIP-1559: https://twitter.com/etherchain_org/status/1350005105811197952
• ASICs Profitability List: https://www.asicminervalue.com/
• Proof Of Stake Info: https://www.investopedia.com/terms/p/proof-stake-pos.asp
• Coins Market Cap: https://coinmarketcap.com/
• Mining Pool Stats: https://miningpoolstats.stream/
• Hashrate Explanation: https://coinsutra.com/hash-rate-or-hash-power/
• DAG Size Calculator: https://minerstat.com/dag-size-calculator
• Ethereum Block Rewards: https://etherscan.io/blocks?p=1

🏬 Places To Buy Mining Hardware From:
• NerdGearZ (US & CA) – https://geni.us/NerdGearz
• ParallelMiner (US, CA & More) [10% off coupon code: miningchamber] – https://www.parallelminer.com/?wpam_id=189
• MineShop (EU & More) – https://mineshop.eu/?raf=ref6330164

💻 Mining Software/Operating System We Use:
• HiveOS – Operating System | https://hiveos.farm/?ref=192319
• Kryptex – Software On Windows 10 | https://www.kryptex.org/?ref=3fdc9287

📹 Check Out Our Playlists!
• GPUs Overview | https://youtube.com/playlist?list=PLmqQIONtYyaE1h6YwjShGJ0ysTVSVqUej
• Mining Rig Builds | https://youtube.com/playlist?list=PLmqQIONtYyaEtj3DskJj-T4VrFLaOhc29
• Operating System Guides | https://youtube.com/playlist?list=PLmqQIONtYyaGMTppNPbgbx_si1IVY9Ryx
• General GPU Mining Guides| https://youtube.com/playlist?list=PLmqQIONtYyaG06t5oEhWWqmxXtpX-R0j7
• Our Crypto Mining Journey| https://youtube.com/playlist?list=PLmqQIONtYyaFMdjIB88HHuXGaGmk0kgDs

🔥 Our Top GPUs for Mining
[Check your local market apps for better deals!] – (Offer ups, letgo, Kijiji, Craigslist, etc.)
• RX 5700 XT | On Amazon | https://geni.us/LpPDYa
• RX 5600 XT | On Amazon | https://geni.us/w9CmpF
• GTX 1660 Super | On Amazon | https://geni.us/k2G0ytP
• RX 580s 8GB | On Amazon | https://geni.us/4vc98Ls
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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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🌐 Find us on:
► Email – [email protected]
► Website – https://miningchamber.com/
► Discord – https://discord.gg/bK6ptDN
► Instagram – https://www.instagram.com/Miningchamber
► Facebook – https://www.facebook.com/miningchamber
► Bit.Tube – https://bittubers.com/profile/Miningchamber
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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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Post Author: CoinCryptoNews