Newbie Question: How do I get started with mining?
I know I should probably wait for a referral link, but I've already read a lot about mining and I have a few questions. I would like to know some more about the bitcoin mining process, mainly about the profitability of it. What are the best settings for a CPU, GPU, and ASIC? Are there ways to get some mining bitcoins without paying for mining hardware? I know there are "miners" like cgminer, but what's an alternative? Thanks!
I have 3,000 solar powered Artik 710’s (Mali GPU), can I cloud mine
Title says it all. I have 3,000 Samsung Artik 700’s that are solar powered (large panel grids) that I pay zero to power all day. Can I set these up as miners with slushpool and mine some bitcoin over the next 3 years? I was thinking cgminer for my mining application. 8x ARM® Cortex®[email protected] 3D graphics accelerator 1GB DDR3 @ 800MHz 4GB eMMC Edit: I said cloud mine. Someone already made fun of me. It’s Pool mining. Cryptographic Hardware Acceleration: Dedicated cryptographic acceleration hardware which provides support for random number generation, block cipher (AES/DES), Hash functions (SHA[1/2/3] with HMAC), and public key cryptosystem (RSA, ECDSA, DH, ECDH)
I have set up a small rig, with a few usb miners that i managed to get for a cheap price, was reading about on forums and read about setting up your own node and mine on your own, in hope to mine a whole block. I have set up everything, switched on cgminer and passed on a few parameters... -o -u -p and --btc-address. Now my question is, for the --btc-address parameter, i need to insert my receiving bitcoin address ? can i use one from my hardware wallet or does it have to be one that the Bitcoin-QT (Bitcoin Core) that cgminer is attached to ?
part 3: down the NodeRed rabbit hole - resurrection (long)
so, now that i've got about 4 weeks of NR experience under my belt, i thought i would do a follow up and show a few new flows. plus, i've picked up a few new hardware add-ons. namely a Harmony Hub and a coupla Sonoff/Tasmota S31. one of the new things i did was setup some global.variables i can use in any flow. https://imgur.com/YFJEwRd 1] is pretty obvious, does my bayesian sensors think i'm home/not_home, and then save it to a global.variable. 2] reads the MQTT for my S31 power monitor on my dumb TV. if it's > 100, then the TV is ON, <= 99, then TV is OFF (or in the process of turning off). then set a global.variable for on/off. https://imgur.com/mcuS1Vk 3] i changed the day/night temperatures to global.variables. 4] this one gets the current volume level of my Sonos and then stores that to a global.variable. (get to why further below) 5] this one i talked about in another post here: https://www.reddit.com/homeassistant/comments/abvqup/device_tracker_with_unifi2mqtt/ okay, so now that i know if my dumb TV is on/off, then i can add it into my "away" (and "bedtime") flow. that gray one on the bottom right is using the HarmonyHub control node to fire the power toggle. (which i'll get to further below) plus it'll stop my Sonos, if it's playing. https://imgur.com/nerbMv3 also you may notice the "alexa TTS" one, that's a subflow, which is a bit of reusable flow, you can put anywhere you want it. this one picks a random number between 1 and 10, then alexa TTS plays the corresponding message. https://imgur.com/bLtBlaD this was also my attempt to get alexa to say "aaaf-firmative" like newt in aliens. https://imgur.com/cUnG1IE doesn't really work, but i'm determined to make this happen. gonna have to figure out the proper phonetics of it. then i'm totally gonna get her to do a stutter like max headroom on one of the other responses. but, my ultimate goal is to get her to do "twiki" from buck rogers. beaty beaty anyways, i've also added that subflow to all my switch on/offs. along with an MQTT log. https://imgur.com/SnpAnW8 now for some of the new stuff... here's a sleep timer. if i'm listening to music in bed, i can activate this with "alexa turn on sleep" and what it does, is it takes the current volume level of my Sonos, stored in a global.var, stores it in a flow.var, then subtracts 1 every minute, until it reaches zero. if the volume is at 30, then it'll be 30 mins until zero. https://imgur.com/7QmbY2S once it reaches zero, it stops the music, sets the volume back to the original state (ie: 30) and then turns itself off. there's an issue when you use something like a Harmony Hub to turn on/off dumb devices via input_bool, or switches, or lights, etc.: that once you turn it on via NR, HA, HHub, Alexa, etc., then HA thinks it's on. if you then turn it off via the device remote, HA won't let you turn it on again, because HA thinks its already on. so, i had to use a script and a "dummy" input_boolean. by dummy i mean, that i do not care, and will not EVER care, what it's state is. on. off. whatever. won't need it. it just needs to be there for the script to work.
input_boolean: mac_x: game_x: candles_x: tv_x:
hide them from emu_hue, cause Alexa doesn't need to see them either.
so instead of key'ing off the input_booleans, i key off the script call. "alexa, turn on candles" calls the script, which toggles the i_b but i only care about the state change of the script. then NR does it's thing. https://imgur.com/Hky9fWd notice tho, that it's a little smart. if the tv is already on, via that global.var, then it just switches inputs, otherwise it turns it on, waits 7 seconds, then switches inputs. okay, here's something REALLY advanced. i have a second pi running cgminer with a USB hub and some USB stick ASIC bitcoin miners. and every once and a while, they stop working and need to be reset. and you can't just restart, you gotta kill the power to the hubs to get them to reset. and then restart cgminer. enter NR cgminer node and the cgminer API. https://imgur.com/POSkjrp so every 5 mins, hit the cgminer API, it returns stats in json, dump those to mqtt. use the function node to pull out the array nested values we need to look at. look for a zero value in any of them. if the input_boolean "auto-reset-miner" is on, then lets reset. stop cgminer, wait, turn off the USB hub, wait, turn on hub, wait, start cgminer, send an alert to mqtt and SMS me. now the real magic is the red exec "start cgminer" node. because we stopped cgminer, we have to start it again, on a whole other computer than NR is on. it basically does a SSH into the miner pi and starts up cgminer. this was difficult to accomplish inside a docker of NR. i had to move some ssh keys around and then reference them with full paths. then i had to do an ssh-copy-id so it didn't require a password.
Let’s take a lucky guess that you’re here today because you’ve heard a lot about cryptocurrencies and you want to get involved, right? If you’re a community person, Dogecoin mining might be the perfect start for you! Bitcoin was the first in 2009, and now there are hundreds of cryptocurrencies. These new coins (that operate on their own native blockchain) are called altcoins or alternative coins. One popular altcoin is Dogecoin. It can be bought, sold and traded, just like Bitcoin. It can also be mined! So, what is Dogecoin mining? You’ll know what hardware and what software you need to get started. You’ll also know whether or not Dogecoin mining is for you! So, where would you like to start? The beginning? Great choice. Let’s have a quick look at how Dogecoin got started. A (Very) Short History of Dogecoin In 2013, an Australian named Jackson Palmer and an American named Billy Markus became friends. They became friends because they both liked cryptocurrencies. However, they also thought the whole thing was getting too serious so they decided to create their own. Palmer and Markus wanted their coin to be more fun and more friendly than other crypto coins. They wanted people who wouldn’t normally care about crypto to get involved. They decided to use a popular meme as their mascot — a Shiba Inu dog. https://preview.redd.it/rymnyyz1iil31.png?width=303&format=png&auto=webp&s=f138e3fe56eef9c6b0e7f49b84fefc41fb83e5aa Dogecoin was launched on December 6th, 2013. Since then it has become popular because it’s playful and good-natured. Just like its mascot! Dogecoin has become well-known for its use in charitable acts and online tipping. In 2014, $50,000 worth of Dogecoin was donated to the Jamaican Bobsled Team so they could go to the Olympics. Dogecoin has also been used to build wells in Kenya. Isn’t that awesome! Users of social platforms – like Reddit – can use Dogecoin to tip or reward each other for posting good content. Dogecoin has the 27th largest market cap of any cryptocurrency. Note: A market cap (or market capitalization) is the total value of all coins on the market. So, Dogecoin is a popular altcoin, known for being fun, friendly and kind. It’s a coin with a dog on it! You love it already, don’t you? Next, I want to talk about how mining works… What is Mining? To understand mining, you first need to understand how cryptocurrencies work. Cryptocurrencies are peer-to-peer digital currencies. This means that they allow money to be transferred from one person to another without using a bank. Every cryptocurrency transaction is recorded on a huge digital database called a blockchain. The database is stored across thousands of computers called nodes. Nodes put together groups of new transactions and add them to the blockchain. These groups are called blocks. Each block of transactions has to be checked by all the nodes on the network before being added to the blockchain. If nodes didn’t check transactions, people could pretend that they have more money than they really do (I know I would!). Confirming transactions (mining) requires a lot of computer power and electricity so it’s quite expensive. Blockchains don’t have paid employees like banks, so they offer a reward to users who confirm transactions. The reward for confirming new transactions is new cryptocurrency. The process of being rewarded with new currency for confirming transactions is what we call “mining”! https://preview.redd.it/rcut2jx3iil31.png?width=598&format=png&auto=webp&s=8d78d41c764f4fe4e6386da4f40a66556a873b87 It is called mining because it’s a bit like digging for gold or diamonds. Instead of digging with a shovel for gold, you’re digging with your computer for crypto coins! Each cryptocurrency has its own blockchain. Different ways of mining new currency are used by different coins where different rewards are offered. So, how do you mine Dogecoin? What’s special about Dogecoin mining? Let’s see… What is Dogecoin Mining? Dogecoin mining is the process of being rewarded with new Dogecoin for checking transactions on the Dogecoin blockchain. Simple, right? Well no, it’s not quite that simple, nothing ever is! Mining Dogecoin is like a lottery. To play the lottery you have to do some work. Well, actually your computer (or node) has to do some work! This work involves the confirming and checking of transactions which I talked about in the last section. Lots of computers work on the same block of transactions at the same time but the only one can win the reward of new coins. The one that earns the new coins is the node that adds the new block of transactions to the old block of transactions. This is completed using complex mathematical equations. The node that solves the mathematical problem first wins! It can then attach the newly confirmed block of transactions to the rest of the blockchain. Most cryptocurrency mining happens this way. However, Dogecoin mining differs from other coins in several important areas. These areas are;
Algorithm: Each cryptocurrency has a set of rules for mining new currency. These rules are called a mining or hashing algorithm.
Block Time: This is the average length of time it takes for a new block of transactions to be checked and added to the blockchain.
Difficulty: This is a number that represents how hard it is to mine each new block of currency. You can use the difficulty number to work out how likely you are to win the mining lottery. Mining difficulty can go up or down depending on how many miners there are. The difficulty is also adjusted by the coin’s protocol to make sure that the block time stays the same.
Reward: This is the amount of new currency that is awarded to the miner of each new block.
Now, let’s compare how DogeCoin mining works compared to Litecoin and Bitcoin… Mining Comparison Bitcoin uses SHA-256 to guide the mining of new currency and the other two use Scrypt. This is an important difference because Scrypt mining needs a lot less power and is a lot quicker than SHA-256. This makes mining easier for miners with less powerful computers. Fans of Litecoin and Dogecoin think that they are fairer than Bitcoin because more people can mine them. Note: In 2014, Litecoin and Dogecoin merged mining. This means they made it possible to mine both coins in the same process. Dogecoin mining is now linked with Litecoin mining. It’s like two different football teams playing home games in the same stadium! Mining Dogecoin is a lot faster than mining Litecoin or Bitcoin. The block reward is much higher too! Don’t get too excited though (sorry!). Dogecoin is still worth a lot less than Bitcoin and Litecoin. A reward of ten thousand Dogecoin is worth less than thirty US Dollars. A reward of 12.5 Bitcoin is currently worth 86,391.63 US Dollars! However, it’s not as bad as it sounds. Dogecoin mining difficulty is more than one million times less than Bitcoin mining difficulty. This means you are much more likely to win the block reward when you mine Dogecoin. Now I’ve told you about what Dogecoin mining is and how it works, would you like to give it a try? Let’s see what you need to do to become a Dogecoin miner… How to Mine Dogecoin There are two ways to mine Dogecoin, solo (by yourself) or in a Dogecoin mining pool. Note: A Dogecoin pool is a group of users who share their computing power to increase the odds of winning the race to confirm transactions. When one of the nodes in a pool confirms a transaction, it divides the reward between the users of the pool equally. Dogecoin Mining: Solo vs Pool When you mine as a part of a Dogecoin pool, you have to pay fees. Also, when the pool mines a block you will only receive a small portion of the total reward. However, pools mine blocks much more often than solo miners. So, your chance of earning a reward (even though it is shared) is increased. This can provide you with a steady new supply of Dogecoin. If you choose to mine solo then you risk waiting a long time to confirm a transaction because there is a lot of competition. It could be weeks or even months before you mine your first block! However, when you do win, the whole reward will be yours. You won’t have to share it or pay any fees. As a beginner, I would recommend joining a Dogecoin pool. This way you won’t have to wait as long to mine your first block of new currency. You’ll also feel like you’re part of the community and that’s what Dogecoin is all about! What You Need To Start Mining Dogecoin Before you start Dogecoin mining, you’ll need a few basics. They are;
A PC with either Windows, OS X or Linux operating system.
An internet connection
A Shiba Inu puppy (just kidding!)
You’ll also need somewhere to keep the Dogecoin you mine. Go to Dogecoin’s homepage and download a wallet. Note: A wallet is like an email account. It has a public address for sending/receiving Dogecoin and a private key to access them. Your private keys are like your email’s password. Private keys are very important and need to be kept completely secure. There are two different types; a light wallet and a full wallet. To mine Dogecoin, you’ll need the full wallet. It’s called Dogecoin Core. Now that you’ve got a wallet, you need some software and hardware. Dogecoin Mining Hardware You can mine Dogecoin with;
Your PC’s CPU: The CPU in your PC is probably powerful enough to mine Dogecoin. However, it is not recommended. Mining can cause less powerful computers to overheat which causes damage.
A GPU: GPUs (or graphics cards) are used to improve computer graphics but they can also be used to mine Dogecoin. There are plenty of GPUs to choose from but here are a few to get you started;SAPPHIRE Pulse Radeon RX 580 ($426.98)Nvidia GeForce GTX ($579.99)ASUS RX Vega 64 ($944.90)
A Scrypt ASIC Miner: This is a piece of hardware designed to do one job only. Scrypt ASIC miners are programmed to mine scrypt based currencies like Litecoin and Dogecoin. ASIC miners are very powerful. They are also very expensive, very loud and can get very hot! Here’s a few for you to check out;Innosilicon A2 Terminator ($760)Bitmain Antminer L3 ($1,649)BW L21 Scrypt Miner ($7,700)
Dogecoin Mining Software Whether you’re mining with an ASIC, a GPU or a CPU, you’ll need some software to go with it. You should try to use the software that works best with the hardware you’re using. Here’s a short list of the best free software for each choice of mining hardware;
CPU: If you just want to give mining a quick try, using your computer’s CPU will work fine. The only software I would recommend for mining using a CPU only is CPU miner which you can download for free here.
GPU: If you mine with a GPU there are more software options. Here are a few to check out;CudaMiner– Works best with Nvidia products.CGminer– Works with most GPU hardware.EasyMiner– User-friendly, so it’s good for beginners.
Scrypt ASIC miner:MultiMiner– Great for mining scrypt based currencies like Litecoin and Dogecoin. It can also be used to mine SHA-256 currencies like Bitcoin.CGminer and EasyMiner can also be used with ASIC miners.
Recommendations You’re a beginner, so keep it simple! When you first start mining Dogecoin I would recommend using a GPU like the Radeon RX 580 with EasyMiner software. Then I would recommend joining a Dogecoin mining pool. The best pools to join are multi-currency pools like Multipool or AikaPool. If you want to mine Dogecoin but don’t want to invest in all the tech, there is one other option… Dogecoin Cloud Mining Cloud mining is mining without mining! Put simply, you rent computer power from a huge data center for a monthly or yearly fee. The Dogecoin is mined at the center and then your share is sent to you. All you need to cloud mine Dogecoin is a Dogecoin wallet. Then choose a cloud mining pool to join. Eobot, Nice Hash and Genesis Mining all offer Scrypt-based cloud mining for a monthly fee. There are pros and cons to Dogecoin cloud mining; The Pros
It’s cheaper than setting up your own mining operation. There’s also no hot, noisy hardware lying around the house!
As a beginner, there isn’t a lot of technical stuff to think about.
You get a steady supply of new currency every month.
Cloud mining pools don’t share much information about themselves and how they work. It can be hard to work out if a cloud mining contract is a good value for money.
You are only renting computer power. If the price of Dogecoin goes down, you will still have to pay the same amount for something that is worthless.
Dogecoin pools have fixed contracts. The world of crypto can change very quickly. You could be stuck with an unprofitable contract for two years!
It’s no fun letting someone else do the mining for you!
Now you know about all the different ways to mine Dogecoin we can ask the big question, can you make tons of money mining Dogecoin? So, Is Dogecoin Mining Profitable? The short answer is, not really. Dogecoin mining is not going to make you a crypto billionaire overnight. One Dogecoin is worth 0.002777 US Dollars. If you choose to mine Dogecoin solo, it will be difficult to make a profit. You will probably spend more money on electricity and hardware than you will make from Dogecoin mining. Even if you choose a Dogecoin pool or a cloud pool your profits will be small. However, if you think I am telling you to not mine Dogecoin, then you’re WRONG! Of course, I think you should mine Dogecoin! But why? Seriously… Well, you should mine Dogecoin because it’s fun and you want to be a part of the Dogecoin family. Cryptocurrency is going to change the world and you want to be part of that change, right? Mining Dogecoin is a great way to get involved. Dogecoin is the coin that puts a smile on people’s faces. By mining Dogecoin you’ll be supporting all the good work its community does. You’ll learn about mining from the friendliest gang in crypto. And who knows? In a few years, the Dogecoin you mine now could be worth thousands or even millions! In 2010, Bitcoin was worthless. Think about that! Only you can choose whether to mine Dogecoin or not. You now know everything you need to know to make your choice. The future is here. So, what are you going to do?
how to shibecoin v rich in minutes much instruct so simple any doge can do
UPDATE 1/21/14: I'm not updating this guide anymore. Most of the steps should still work though. See the wiki or check the sidebar for updated instructions. Before you do anything else, you need to get a wallet. Until there's a secure online wallet, this means you need to download the dogecoin client. Now open the client you just downloaded. You'll be given a default address automatically, and it should connect to peers and start downloading the dogechain (aka blockchain in formal speak). You'll know because there will be a progress bar at the bottom and at the lower right there should be a signal strength icon (TODO: add screenshots). If you've waited 2 or 3 minutes and nothing is happening, copy this:
And paste it into a new text file called dogecoin.conf, which you then place into the dogecoin app directory.
On Windows this is C:\Users\[YOUR_USER]\AppData\Roaming\DogeCoin
On Macs it's ~/Library/Application Support/DogeCoin
Now restart your qt client and the blockchain should start downloading in about 1-2 minutes. Once it finished downloading, you're ready to send and receive Dogecoins!
Decide how you want to get Dogecoin. Your options are:
I'll go into detail about each of these. I'm currently writing this out. I'll make edits as I add sections. Suggestions are welcome.
Mining is how new dogecoins are created. If you're new to crypto currencies, read this. To mine (also called "digging"), a computer with a decent GPU (graphics card) is recommended. You can also mine with your CPU, but it's not as efficient.
These instructions cover only Windows for now. To mine, you'll need to figure out what GPU you have. It'll be either AMD/ATI or Nvidia. The setup for both is approximately the same.
Step One: Choose a pool
There's a list of pools on the wiki. For now it doesn't really matter which one you choose. You can easily switch later. NOTE: Youcanmineintwoways.Solominingiswhereyouminebyyourself.Whenyoufindablockyougetallthereward.Poolminingiswhenyouteamupwithotherminerstoworkonthesameblocktogether.Thismakesitmorelikelythatyou'llfindablock,butyouwon'tgetallofit,you'llhavetosplititupwithothersaccordingtoyourshareofthework.Poolminingisrecommendedbecauseitgivesyoufrequentpayouts,becauseyoufindmoreblocks.Thelargerthepoolyoujoin,themorefrequentthepayouts,butthesmallertherewardyouget. Overalongperiodoftimethedifferencebetweenpoolandsolomininggoesaway,butifyousolomineitmightbemonthsbeforeyougetanycoins.
Step two: Set up pool account
The pool you chose should have a getting started page. Read it and follow the instructions. Instructions vary but the general idea is:
Create an account
Create a worker under the account
Grab the mining URL (usually on the getting started page)
Setup your cash out options in your account settings by entering one of your wallet's receiving addresses
When you're done with this, you'll need to know:
Your account, worker name, and worker password
The mining (stratum) URL (usually the pool's URL followed by a port)
Step three: Download mining software
For best performance you'll need the right mining software.
Create a text file in the same folder as your miner application. Inside, put the command you'll be running (remove brackets). For AMD it's cgminer.exe --scrypt -o stratum+tcp://: -u -p For Nvidia it's cudaminer.exe -o stratum+tcp://: -O : Substitute the right stuff in for the placeholders. Then on the next line of the text file type pause. This will let you see any errors that you get. Then save the file with any name you want, as long as the file extension is .bat. For example mine_serverName.bat.
Step five: Launch your miner
Just open the .bat file and a command line window should pop up, letting you know that the miner is starting. Once it starts, it should print out your hash rate. If you now go to the pool website, the dashboard should start showing your hashrate. At first it'll be lower than what it says in the miner, but that's because the dashboard is taking a 5 minute average. It'll catch up soon enough. NOTE: Anormalhashrateisbetween50Kh/suptoeven1Mh/sdependingonyourGPU.
You're now mining Dogecoins
That's it, nothing more to it.
CPU mining isn't really recommended, because you'll be spending a lot on more on power than you'd make from mining Dogecoin. You could better spend that money on buying Dogecoin by trading. But if you have free electricity and want to try it out, check out this informative forum post.
Trading has been difficult so far, but Dogecoin just got added to a few new exchanges. If you don't have a giant mining rig, this is probably the best way to get 100k or more dogecoins at the moment. I'll write up a more complete guide, but for now check out these sites:
Faucets are sites that give out free coins. Usually a site will give out somewhere between 1 and 100 Dogecoin. Every site has its own time limits, but usually you can only receive coins once every few hours, or in some cases, days. It's a great way to get started. All you do is copy your address from the receive section of your wallet and enter it on some faucet sites. Check out /dogecoinfaucets for more. If you go to each site on there you might end up with a couple hundred Dogecoin!
This method is pretty straightforward. Post your receiving address, and ask for some coins. Such poor shibe. The only catch is, don't do it here! Please go to /dogecoinbeg.
Other redditors can give you Dogecoin by summoning the tip bot, something like this: +dogetipbot 5 doge This might happen if you make a good post, or someone just wants to give out some coins. Once you receive a tip you have to accept it in a few days or else it'll get returned. Do this by following the instructions on the message you receive in your inbox. You reply to the bot with "+accept". Commands go in the message body. Once you do that, the bot will create a tipping address for you, and you can use the links in the message you receive to see your info, withdraw coins to your dogecoin-qt wallet, see your history, and a bunch of other stuff. As a bonus, so_doge_tip has a feature where you can get some Dogecoins to start with in exchange for how much karma you have. To do this, send the message "+redeem DOGE" to so_doge_tip. You'll need to create a tipping account if you don't have one. If you want to create a tipping account without ever being tipped first, message either of the bots with "+register" and an address will be created for you.
1/21/14 - Added note about this thread no longer being updated
1/21/14 - Changed wallet links to official site
12/27/13 - Added 1.3 wallet-qt links
12/21/13 - Added new windows 1.2 wallet link
12/20/13 - Fixed +redeem text
12/18/13 - Added short blurb on trading.
12/18/13 - Updated cudaminer to new version (cudaminer-2013-12-18.zip).
I have two 7970 cards from Sapphire. Each one running on single performs like it should, around 650 Mhash with a bit of clocking. When they are running together, one of the cards performs normally, but the other one has only 300 Mhash, which is half the speed. Do you have any idea on how to fix this? My MB is this: http://www.asrock.com/mb/Intel/P55%20ProUSB3/?cat=Specifications EDIT: Problem solved. The second card was attached to a display using HDMI, after pluging it off the hash rate came back to the normal rate. Now I have another problem: One card (PCIE 2.0 x16) runs hotter than the other one (x4), over 10c difference on load. Also, after reaching 80c the hot GPU load fluctuates between 60 and 90%. Is this normal? The other GPU runs cooler and doesn't fluctuate, it stays on 99%.
Crypto Mining for Beginners. Is it really worth it?
Image from blokt.com Mining cryptocoins is an arms race that rewards early adopters. You might have heard of Bitcoin, the first decentralized cryptocurrency that was released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash. You can get in on the cryptocurrency rush if you take the time to learn the basics properly.
Which Alt-Coins Should Be Mined?
Image from btcwarp.com If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs, not to mention the sheer mathematical difficulty of the process, just doesn't make it profitable for consumer-level hardware. Now, Bitcoin mining is reserved for large-scale operations only. Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners. Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy. As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to discover coins. You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Understanding the top 3 bitcoin mining methods is probably where you need to begin; this article focuses on mining "scrypt" coins. Also, be sure you are in a country where bitcoins and bitcoin mining is legal.
Is It Worth It to Mine Cryptocoins?
As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months. As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.
Set Reosonable Expectations
If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining. Smart miners need to keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month. The two catches are: 1) The up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units 2) The market value of cryptocoins Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins. The emphasis here is on "small chance," with small meaning "slightly better than winning the lottery." If you do decide to try cryptocoin mining, definitely do so as a hobby with a very small income return. Think of it as "gathering gold dust" instead of collecting actual gold nuggets. And always, always, do your research to avoid a scam currency.
How Cryptocoin Mining Works
Let's focus on mining scrypt coins, namely Litecoins, Dogecoins, or Feathercoins. The whole focus of mining is to accomplish three things: - Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called "verifying transactions." - Get paid a small reward for your accounting services by receiving fractions of coins every couple of days. - Keep your personal costs down, including electricity and hardware.
The Laundry List: What You Will Need to Mine Cryptocoins
https://preview.redd.it/gx65tcz0ncg31.jpg?width=1280&format=pjpg&auto=webp&s=f99b79d0ff96fe7d529dc20d52964b46306fb070 You will need ten things to mine Litecoins, Dogecoins, and/or Feathercoins. 1) A free private database called a coin wallet. This is a password-protected container that stores your earnings and keeps a network-wide ledger of transactions. 2) A free mining software package, like this one from AMD, typically made up of cgminer and stratum. 3) A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability. 4) Membership at an online currency exchange, where you can exchange your virtual coins for conventional cash, and vice versa. 5) A reliable full-time internet connection, ideally 2 megabits per second or faster speed. 6) A hardware setup location in your basement or other cool and air-conditioned space. 7) A desktop or custom-built computer designed for mining. Yes, you may use your current computer to start, but you won't be able to use the computer while the miner is running. A separate dedicated computer is ideal. Do not use a laptop, gaming console or handheld device to mine. These devices just are not effective enough to generate income. 8) An ATI graphics processing unit (GPU) or a specialized processing device called a mining ASIC chip. The cost will be anywhere from $90 used to $3000 new for each GPU or ASIC chip. The GPU or ASIC will be the workhorse of providing the accounting services and mining work. 10) A house fan to blow cool air across your mining computer. Mining generates substantial heat, and cooling the hardware is critical for your success. 11) You absolutely need a strong appetite of personal curiosity for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results. The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance. Original Blog Post: https://www.lifewire.com/cryptocoin-mining-for-beginners-2483064
Hows it going reddit community, I've been lurking here continuously the last 12hrs and I wish I had found this place earlier. I've just bought my first rig, Made up of 3x SAPPHIRE HD 7970 3GB Vapor-X Ghz. I realize now that I should have just bought as many 7950s as I could, although I bought these at a killer price of £310 which is a fair bit cheaper than the rest of the British retailers. I'm confident resale value should stay fairly high so I'm not too worried about buying these premium cards. Motherboard is Gigabyte X79-UD3. I bought this mobo because it is able to run three GPUs at 16x/8x/8x. I've seen people using a cheaper motherboards which would run three GPUs at 16x/8x/4x or 8x/8x/4x, would I see any gain in kh/s from the extra bandwidth of this mobo? CPU is my current desktop machines Intel Core i7 with stock fan and also 8GB DDR3 from that system. I did not know about risers and stupidly did not order some, I can only really afford two at the moment but I'm sure that should suffice. I'm can't stop peeking out my window at the sound of a passing van hoping it is the Polish TNT driver who delivers my parcels... the wait continues - I'll be mining at give-me-ltc, see you guys around!
I'm writing this because I couldn't find a single condensed guide on compiling the wallet and running mining software on linux, specficially Ubuntu/Linux Mint. I combed Bitcoin and Litecoin forums for similar problems I was running into and eventually got everything nailed down, so here it is in one place, for new Shibes. If you want to make a Dogecoin directory in your downloads folder to keep things organized, you will need to modify these commands to refelct the change. So instead of going to ~/Downloads/ you will need to go to ~/Downloads/Dogecoin and be sure to put the zipped files there when you download them, but the commands will be the same otherwise. cwayne18 put in the work to make a PPA for the QT client here. Ubunutu/Mint/Debian users should be able to install the client with the following commands:
Compiling the Wallet Manually I suggest using the PPA above, but if you want to compile manually, here you go. 1)Download the newest source from here. If you want to check out the Github page, click here 2)Unzip the package with the native client OR, navigate to your downloads and unzip
cd ~/Downloads unzip dogecoin-master.zip
3)Now it's time to compile. You will need to install the dependencies, just copy and paste the following code. It will be a fairly large download and could take some time. It is always important to update before installing any new software, so we'll do that first and then install the dependencies.
4)Once that is done, go to the doge-coin master directory and compile:
cd ~/Downloads/dogecoin-maste sed -i 's/-mgw46-mt-sd-1_53//g' dogecoin-qt.pro qmake USE_UPNP=- USE_QRCODE=0 USE_IPV6=0 make -j3
After running the qmake command you will likely see some text similar to
Project MESSAGE: Building without UPNP support Project MESSAGE: Building with UPNP supportRemoved plural forms as the target language has less forms. If this sounds wrong, possibly the target language is not set or recognized.
It's perfectly normal, so don't worry about that. Your Dogewallet is ready to go! The executable is in ~/Downloads/dogecoin-maste and called dogecoin-qt. Your wallet information is in ~/.dogecoin. You can run the wallet at any time by opening terminal and typing
cd ~/Downloads/dogecoin-maste ./dogecoin-qt
Future upgrades to dogewallet are easy. Back up your wallet.dat, and simply follow the same directions above, but you'll be unzipping and building the newer version. You will likely need to rename the old dogecoin-master directory in ~/Downloads before unzipping the newest version and building. Also, it is likely that you will not need to install the dependencies again. Alternate Method For Installing Dogecoin Wallet from Nicebreakfast After installing the dependencies listed in step 3, open terminal, then navigate to where you want Dogecoin Wallet stored and run:
git clone https://github.com/dogecoin/dogecoin ./autogen.sh ./configure make
then when the wallet is updated just run
from the dogecoin directory. GPU Mining GPU mining requires CGminer. My suggestion is to get the executable already built. The creator of cgminer has removed the built file from his website, but I've uploaded it here
sudo apt-get install pkg-config opencl-dev libcurl4-openssl-dev autoconf libtool automake m4 ncurses-dev cd ~/Downloads tar -xvf cgminer-3.7.2-x86_64-built.tar.bz2
Don't use anything newer than 3.7.2. The newer versions of CGMiner don't support GPU mining. That's it! You have cgminer ready to go! You will run cgminer with the following syntax
cd ~/Downloads/cgminer-3.7.2-x86_64-built/ ./cgminer --scrypt -o stratum+tcp://SERVERNAME:PORT -u WORKER.ID -p PASS
A good guide for fine tuning cgminer can be found here; follow the litecoin example. EDIT I had trouble getting cgminer running with a single line command, but running it via an executable .sh file works. This is covered in the cgminer setup guide I posted above but I'll put it here too. In the same directory that has the cgminer executable, you need to make a file called cgminer.sh and make it executable. It should contain the follwing:
Then you can call cgminer in terminal by doing ./cgminer.sh You will need a cgminer.conf file containing all your options. All of this is covered in the guide that is linked above. A quick note about AMD drivers: They used to be a huge PITA to install and get working, but the newest Catalyst drivers are great. There's a GUI installer, everything works out of the box, and there is a lot of documentation. You can download them here: AMD Catalyst 14.6 Beta Linux CPU Mining For CPU mining I use minerd because it doesn't require any work to get running, simply download it and get to work. Download the built file for your machine 32-bit or 64-bit, and then unzip it and you're ready to go!
cd ~/Downloads tar -xvf pooler-cpuminer-2.3.2-linux-x86.tar.gz
The executable is called minerd and it will be in ~/Downloads but you can move it to wherever you like. To run it, pull up terminal and do
cd ~/Downloads minerd --url=stratum+tcp://SERVER:PORT --userpass=USERNAME.WORKERNAME:WORKERPASSWORD
You're done! Happy mining! Common Issues I ran into this and I've seen others with this problem as well. Everything installs fine but there is a shared library file that isn't where it should be. In fact, it isn't there at all.
libudev.so.1: cannot open shared object file: No such file or directory
In terminal, do
sudo updatedb locate libudev.so.0.13.0
And it will probably return a path /lib/x86_64-linux-gnu. Inside that directory there's a library file called libudev.so.0.13.0. You'll need to make a symlink (aka shortcut) that links libudev.so.1 to libudev.so.0.13.0 So, assuming you're working with libudev.so.0.13.0 do this
cd /lib/x86_64-linux-gnu sudo ln -s libudev.so.0.13.0 libudev.so.1
Now if you do
You should see
libudev.so.1 -> ./libudev.so.0.13.0
Meaning you've made the symlink. Also, the text for libudev.so.1 will be blue.
To arms Bitcoin community! Help us to complete this mining installation for the Zürich MoneyMuseum. We are not asking for funds. Only your expertise needed! 20$ tip if you give us the relevant clue to solve or mitigate our main problem. Nice pictures of the exhibition inside as well…
Edit: A big thank you to all people who helped us we can now mine true pps with diff1! The people in this thread which have helped most have been awarded. I want to mention also the operator of btcmp.com denis2342 and Luke-Jr. Actually looking at the miner screen in the Linux terminal helped a lot ;-). The pool constantly resigned to stratum with variable difficulty. We can now mine true pps with diff1. Getwork with long polling seems to be default after disabling stratum... We will probably post again, when there is a video of the installation in action... Again many thanks. Learned a lot. Edit: Thank you for all the answeres so far! We will try different things now and report back. Tip bounty will be distrubuted as soon as we found out what finally does the trick. Ths could take a few days. The offerd tip will be distributed and very likeley a few others as well. First of all, let me tell you that the Bitcoin Exhibition at the Zürich MoneyMuseum is most likely the biggest and most diverse of it’s kind. Please read more about the museum and the exhibition below. Help us solve the following problem we experience with our “Muscle Powered Proof of Work” installation: Me and a friend have invested a lot of time to build an installation for the Museum. It is basically a 10GHash/s miner and RapberryPi which is powered by a hand generator (Maxon DC motor with planetary gear). Here are some pictures of the installation, although not entirely put together yet. There are still some changes planned. https://www.dropbox.com/sh/0qcvl3wu4romhnt/AAAYF08lnVAy6W6KEepE7e2Ua?dl=0 Now let’s get to the core of our problem: We are mining at the getwork diff1 pool btcmp.com as it is a true pps pool with getwork diff1. The visitors in the museum can power the generator for 2-3min and see directly how many Satoshis the "network" (actually pool but we don't want to confuse the visitors to much at that point) has given the museum for their work. This all works well so far but one problem remains. Sometimes the pool does not get a share from us for more than 40 seconds or even more than 60 in some cases. I have calculated that with 8.4 GHash/s we should find a share about every 0.5 seconds in average (diff1). I think when the pool gets a share it gets all the hashes as it then accounts for several Satoshis. Statistically we get per minute what we should get in theory. We would very much like to lower the time between the accepted shares by the pool, however. This would help to make the overall experience much smoother for the visitors. Please look at this screenshot from MinePeon and answer some questions: https://www.dropbox.com/s/lb1jei4trc9kqe5/MinePeonScreenshot.png?dl=0 We see that we get a lot of diff1 hashes. However, only 11 shares/packages have been accepted. The Is there a possibility to set the miner SW so it submits to the pool as soon as a share is found? It seems to send them in packages which sometimes have 4-5 seconds in between but sometimes a much as 80 seconds. I would like to submit packages of hashes much more often. How can this be influenced? What exactly are the Getworks (GW)? What exactly are the Accepted ones (Acc)? This is where the TipBounty is. Help us to get a better Acc/diff1 ratio. Best would be 1:1. What exactly are the rejected ones (Rej)? What exactly are the discarded ones (Disc)? What exactly are the difficulty one hashes (diff1)? Now some of these questions seem very very basic but it is important for us to understand what these are and how we can influence these. We have a 1:1 correlation between the Acc and the pool side acknowledgement of shares/packages. So whenever the MinePeon shows one more for this value the pool value for last submitted share goes to “moments ago”. Does the miner SW have a setting where we can set after how many diff1 hashes a package of hashes is sent to the pool? If no, do you have another idea why so few are sent? Ideally we would set it so the diff1 hashes are sent every 5 seconds or so, probably even more often. Is stratum with fixed diff1 possible? If so, would it be better to use stratum? Are there critical settings if we should know of? (we have tried --request-diff and --no-submit-stale) We are using BFGMiner on MinePeon if that matters. We could switch to CGMiner if that would help. Any help is very much appreciated. The museum is doing a great job explaining Bitcoin basics. We had special focus on interactive learning and have several things to underline this. I hope to hear back from you so we can improve our installation. Please don't hesitate to ask if you have further questions. We are both not mining experts. Thanks for reading and AMA. SimonBelmond Current features of the Bitcoin exhibition at the Zürich MoneyMuseum: Current Features:
Life screen with various stats/charts/parameters/transactions…
Muscle powered PoW: Hand generator with 5v and 3.5-5A output, Raspberry Pi, MinePeon, 5x Antminer U2+ plus a screen to show the hash-rate at the pool and/or in MinePeon web interface. This screen will not be hand powered. This installation will complement their coining die (go to 1:27 to see what I mean).
The Bitcoin mining evolution (CPU, GPU, FPGA, ASIC)
A few short (2-3 minutes) interviews.
Other wallets, Trezor, PiperWallet
ATM Prototype, functional
PiperWallet to use.
Casascius and other physical Bitcoins, Wallets (also some commemorative coins), Paper wallet like one out of the first Bitcoin (A)TM ever
12 Picture tours
Bitcoin for beginners
Debunking 13 Bitcoin myths
What you definitely have to know
The history of Bitcoin
Bitcoin und traditional forms of money
Alternatives to Bitcoin
Citations about Bitcoin
How do I open an account?
How do I get Bitcoin?
Bitcoin community and economy
Bitcoin as a platform
I see this as a good opportunity for Bitcoin, so let’s embrace it. I am especially excited to compare the traditional forms of money which used proof of work to the new money which also uses proof of work. I think in that context it will be much easier for the visitors to value this concept. A lot of schools and other groups book guided tours at the museum. It is open on every Friday from December 05. On. Entry is free of charge. Edit:Markdown, typos
https://preview.redd.it/eh88ad6bhg521.jpg?width=1080&format=pjpg&auto=webp&s=4cc9e53d0f8bbd9eeb972d30541a917b21765557 Despite the fact that mining in Bitcoin is not as profitable as it was a year ago, there are programs that make it possible to earn at least a few coins without extra expenses. Now analysts point out that there are ten programs, with the help of which users can get bitcoins. Program NHM keeps the first line. With its help you can get not only Bitcoin, but also other coins. The program has a simple and convenient interface, there is support for the Russian language. It supports a number of algorithms at once, and the user himself can choose how to mine coins, in addition to bitcoin. Energy consumption when using it is very small. Second place. Claymore’s Dual Miner Many people consider it one of the most effective programs. Created in such a way that mine several currencies at once, bitcoin and ethereum. It is better to work with experienced users, as it is necessary to carry out fine-tuning. The third place is occupied by EasyMiner. The program is free and has a very simple interface, and you can get not only Bitcoin, but also a number of other coins. The user can get all the information about how the mining process is going. It can also be used by beginners. Fourth - BFGMiner. Users can customize it at their discretion. It has a number of functions that allow you to overclock equipment and at the same time monitor how the fans work. Only experienced users can work with it. In fifth place is the CGMiner program. The original version was created exclusively for Bitcoin, but now it can mine some more coins. It does not have a graphics processor, and it is compatible with many models of asics. Program MultiMiner is in the sixth place. It can be used for Bitcoin mining and several dozen cryptocurrencies. It looks for the most current coins, but users can customize it as they wish. It does not consume many PC resources. Bitminter ranked seventh. It has an unusual interface, it looks like a speedometer. Unlike many programs it is easy to manage and have improved stability during operation. MinerGate is on the eighth line. It allows you to mine not only Bitcoin, but also unknown coins. The interface is very simple and straightforward. She automatically chooses the coin that is best to mine. Users can customize it as they wish. GUIminer is next to last. It has a simple interface, there is a large variety of settings and the statistics are shown in real time. The tenth line of analysts gave AwesomeMiner. This program is free and it was created in order to manage a large amount of equipment. It can optimize Bitcoin production in automatic mode, it works exclusively with Windows. It is suitable for mining farms. Using the above programs you can earn more than one coin of bitcoin or another currency, and the cost of paying for electricity will not be too big.
New people please read this. [upvote for visibility please]
I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can. Preface Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here. If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier. Mining. What is it? Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section. Mining Hardware While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much. Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it. So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy. Should I mine? Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats PCPartPicker part list / Price breakdown by merchant / Benchmarks
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s Hardware Fundamentals CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with. RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory. HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats) GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like. PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption. MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less. PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied. When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info. Mining Software Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head) Mining Pools Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself. How do I connect to a pool? Most pools will give you a tutorial on how to but the basics are as follows:
Signup for a pool
Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine: Hardware cost: The cost of your physical hardware to run this whole operation. Power: Measured in $/KwH is also known as the operating cost. Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon. Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously. Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones. coinwarz I like this one cause it is simple. The fields are self explanatory. Try it. bitcoinwisdom I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account. Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it! More Below.
How to Earn Money Mining Virtual Currency With Your Average Computer - A Full Guide
Lately I've been exploring some alternatives to the typical grind that is online work. I've always followed Bitcoin pretty closely and knew of Bitcoin mining, but I was also aware of how difficult it's become. The difficulty is so high it's not even worth trying with the average computer. However, as of late there has been an explosion of new virtual coins. There are now hundreds (if not thousands) being mined. There is debate on how much of a help or hindrance all these altcoins are to the world of virtual currency, but regardless they open up a lot of chances to earn money with your average computers unused resources. I decided to start digging into all the altcoins and find one that was new, easy to mine, had a solid and dedicated dev team, and a solid purpose so it's less likely to die off. What I ended up with was CasinoCoin. At the time it was sitting around $0.009 USD each, and fit all of my requirements. I took my two laptops with their i3 cpu's and no gpu's (20kH/s total) and set them to work mining at MooPool.com. A couple days later around the time I hit 300 coins the price jumped up to a peak of $0.11, and my poke at mining altcoin turned into $33. Now I'm not saying this is a ton of money, but consider the fact that I was only mining at 20kH/s on CPU's. Better computers (especially those with GPU's) will mine many more CasinoCoins. So with my recent tests a success I figured I'd share my findings and make an easy guide to mining virtual currency. This quick guide will be done for CasinoCoin over at MooPool.com since it's my coin of choice, but can be applied to any virtual currency. GPU Guide (You can run a miner for every GPU and CPU you have) To my knowledge the most efficient GPU miner at the moment is CudaMiner
cuda miner is a miner specifically designed for Nvidia's architecture. Nvidia's cuda cores are not well suited for alt coin mining, so cuda miner helps you to get the most of Nvidia cards. If you have an AMD GPU, cgminer is what you want to use. -zekezander
Download the correct version for your machine and extract the archive to a folder somewhere convenient. Open up notepad and paste in the following.
Now save it as StartMining.bat in the miner folder and run it. You should start seeing blocks detected, and once the pool tunes into your hashing power you can check the hash rate of your shares to get a feel for what you're capable of. -q is for quiet mode, when turned off you will see all of your hashing. When turned on you will only see your accepted shares and their total hash rates. Now it's time to make an account at MooPool.com so we can customize the miner. Start by adding a worker for each device you'll have mining. Next we customize the bat file in the following manner. Username & Password (--userpass account.worker:password) (If you have multiple GPU's you may need additional changes to your bat file, I'm not sure how to set this up.) Now save it and start it up. If you did everything correctly you should see you hash rate start to rise then average out on the websites dashboard. You are now helping to break "blocks" worth 50CSC each. When the pool breaks one it is distributed fairly to everyone who helped based on the amount of work they contributed. The faster the pool mines, the quicker we all get CSC. Lastly you need to download a personal CSC wallet HERE so you can withdraw your funds. Once you have your wallet address remember to add it to your account and enable automatic payouts. CPU Guide To my knowledge the most efficient CPU miner at the moment is Pooler CPU Miner Download the correct version for your machine and extract the archive to a folder somewhere convenient. Open up notepad and paste in the following.
Now save it as StartMining.bat in the miner folder and run it. You should start seeing blocks detected, and once the pool tunes into your hashing power you can check the hash rate of your shares to get a feel for what you're capable of. -q is for quiet mode, when turned off you will see all of your hashing. When turned on you will only see your accepted shares and their total hash rates. Now it's time to make an account at MooPool.com so we can customize the miner. Start by adding a worker for each device you'll have mining. Next we customize the bat file in the following manner. Username (-u account.worker) Password (-p Password) Now save it and start it up. If you did everything correctly you should see you hash rate start to rise then average out on the websites dashboard. You are now helping to break "blocks" worth 50CSC each. When the pool breaks one it is distributed fairly to everyone who helped based on the amount of work they contributed. The faster the pool mines, the quicker we all get CSC. Lastly you need to download a personal CSC wallet HERE so you can withdraw your funds. Once you have your wallet address remember to add it to your account and enable automatic payouts. Turning your CSC into USD In order to sell your CSC you will need to use an exchange. So far Cryptsy(Ref) - Cryptsy (Non-Ref) is the only site that does CSC exchanges. When you're happy with the price sell off your CSC for BTC. Next take your BTC and send it to CoinBase(Ref) - CoinBase(Non-Ref) where you can easily sell it for USD and have it sent to your bank account. Hope this helps some of you out, Happy Mining! If you found this of use and would like to donate these are my wallets, or you can just mine with the sample .bat launchers for a bit :) CSC: CZcoArhSWT4hYPYUkVVvV5NswL3AvBBH3W BTC: 152GbYdHrU8QtCf4YpJaqNR5WPR6ZpTC4q
Hello all, Having dabbled in bitcoin mining for a while I've stepped things up and purchased some more serious mining horsepower. I've since been updating myself on the all the changes that have been going on over the last 18 months and the different iterations of bitcoin that have emerged. TBH I'm still weighing up what I think is best in terms of Core vs Unlimited etc. (Although the fact I'm posing here may indicate a lean). Anyway.... what I'm really confused about is how I can influence things. Questions (not in any particular order). Mining Equipment: My new gear is from BitMain. Unlike my older stuff which uses CGMiner, this gear has a simple yet functional web interface and I'm not yet aware of any command interface (like CGMiner has) to change settings outside of the options provided.
Do I need any particular firmware or to edit anything on this equipment if I want to support Unlimited?
There's a lot of stuff about miners voting on block size (and other things). How does this happen in practice?
Does the mining pool I mine with imply support for one implementation of the code over another?
Hosting a Node: It's clear that one way of supporting Unlimited is to host a node. There is already a BitcoinUnlimited node geographically close by.
Does that make it any bettepointless for me to host one too?
There are 2 possible sites I could host a node from. One has unlimited data and fast downloads but is restricted to 2mbps uploads. The other has much faster uploads (~14mbps), but currently has a little less than 10GB/month of spare data. 2a. Would either of these connections be suitable? 2b. If one/either of them is ok for now what will it look like when block size is say 4mb? 3a. Are there any other benefits to me if I host a node? 3b. What if I chose to try mining solo? Thanks
I'm a CS professor at a local junior college. I noticed a few months ago that a few of the machines in the computer labs were running a little harder than an idle machine should be. After a little poking around, I found that someone had stuck a bitcoin client deep into some of the program folders. I removed the files, but a few weeks later I discovered that now all the machines were running the client (CGMiner, btw) with the files sitting in the same location. I got IT to go over them with a scheduled wipe and clean everything out. Afterwards I left a little note in the folders as a mild deterrent and warning. Things were peaceful for a few months, but then the other day I once again heard the whirring of an idle machine that was working a little too hard and, viola, once again all the machines were running the client and the miner left me a little comeback. So now I'm a little pissed, since this guy is putting undue stress our lab computers that probably have short lifespan to begin with. Unfortunately, I haven't really interacted with bitcoin all that much, so I don't know how to easily get back at him. What I do know is that the client has a config file listing, among the various settings, a username and password which I assume is somehow connected to an account or wallet or something. The config file in question. My biggest concern is that whoever is doing this is not a student, but faculty, or worse yet, part of the IT department. Regardless of who it is, I want to make clear to them that mining on these computers will lead to them having a very bad day. This is the part where I need your help /Bitcoin. My ultimate goal would be to uncover the identity of whoever is doing this, but that may be a bit of a longshot. At the very least, I'm hoping that the info in the config file can somehow lead to an account that could either be hijacked, suspended, deleted, etc.
Unable to mine for Bitcoin Classic on Multipool with cgminer... am I missing something?
Hi guys, I'm trying some mining pools to see which is the best for my needs. After testing Slush, today I registered on Multipool.us to start mining there. I set up my worker, added my wallet address and checked out the mining URLs here, where it says:
I want to mine Bitcoin Classic and I'm using a little USB miner called Gekko 2-Ppac (which uses two BM1384 chips and works at around 26Gh/s), so I started cgminer with the following command (obviously replacing user.worker with my real user and worker names):
cgminer -o stratum+tcp://eu.multipool.us:3345 -u user.worker -p x
It starts, detects the miner, and then just says "waiting for work to be available from pools", but the pool doesn't look like responding. After a minute or two it just gives up and says to press any key to quit. I tried some more configs changing the password (which is actually not required so it shouldn't be the problem), the worker name etc, but it doesn't look like it's working. I then tried to mine Bitcoin (not classic) using the port 3332 (see above) and the exact same command, and the miner started running without a problem at the expected speed. Is there something I'm missing about Bitcoin Classic that is required to mine? Could that be something about my USB miner? I don't think so, I mean it's still SHA-256 so there shouldn't be any problem. What should I do? Thanks for reading through this, any help would be really appreciated.
In Avast it is a Settings >> General >> Exclusions. Alright! Before we see how to setup this miner we’ll list all the algorithms and coins that this miner supports. CCminer supported Algorithms and Coins . The new version ccminer supports all major algorithms including the most recent one such as x12, x16r and x16s . Following are the list of algorithms and coins that ccminer v2.2.5 supports ... Miner Configuration. Note: GPU mining is strongly discouraged at this point (see here), as it is both unprofitable and hard to set up correctly. This page will provide you with a script to get you started with Litecoin mining. Remember that Litecoin mining is very different from Bitcoin mining, and usually requires much more tweaking to get optimal results. Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Sign up to join this community . Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Bitcoin . Home ; Questions ; Tags ; Users ; Unanswered ; Jobs; cgminer settings “--load-balance” vs “--balance”? Ask Question ... 2Pac USB Stick Miners can calculate Hashes for SHA256D based Coins using a custom CGMiner branch which is available for download as a pre-compiled version for Windows 7 or higher: 26/05/2019 @ 9e51f0b – cgminer-4.11.1-windows-gekko-9e51f0b.7z; When plugged in, the Miner is registered in Windows Device Manager as “2Pac BM1384 Bitcoin Miner”. For Windows 7 and Windows 10 operating systems ... If you compile cgminer with a version of CURL before 7.19.4, then some of the above will not be available. All available since version 7.19.4 CURL. If you specify the –socks-proxy option for cgminer, it will be applied only to all pools that do not specify their own proxy settings, as described above.
In this video I show you how to start mining Bitcoins with CGMiner and an account at your favorite miningpool. Get CGMiner at: https://bitcointalk.org/index.... How to Setup CGMiner for Ubuntu (Gridseed Support) - Duration: 18:56. ... BFGMiner on Windows Setup Guide for Bitcoin Users + ASIC Miner Setup Bitcoin Weekly Show - Duration: 6:54. cxboy 84,435 ... Mining hardware comparison: https://litecoin.info/Mining_hardware_comparison Litecoin wallet: https://litecoin.org/ CGminer: http://ck.kolivas.org/apps/cgmin... BFGMiner on Mac Setup Guide ----- BFGMiner website: http://www.bfgminer.org Install ASICMiner driver: http://www.si... *****UPDATE***** Solo mining has been removed from client. I'll keep the video up for how it used to work, it might still work for some alt coins (unsure) yo...