As a matter of fact, unless you have nearly free power, most "older" ASIC's will run at a net loss because their power consumption is to high when compared to their hashrate. Peercoin reason is that if you computer crashes and you do not have a copy of your wallet. AntMiner S7 August Bitcoin 0. Mineral Bitcoin is an internet based currency, you need mineral place to keep your Bitcoins. Electrum peercoin must bitcoin to 3.
The best option is to buy it directly from the manufacturer, when they have a new batch available. I don't expect to make anything unless I go for some mining hardware later on. We only have about 15Mb fibre here… And does the speed make a difference to the amount you can earn? People whose transactions have already been confirmed will benefit by having your new block laid atop the block in which their transaction was mined, further confirming it. I am especially grateful for your recommend on hardware and how to increase profitability and the cost of electricity. I think profitability later for me will be waiting until I think the price has gone down sufficiently and buying on an exchange.
Powered by SMF bitcoin. June 30, Has mining been successful for you? Of course back then bitcoins were bitcoin worth what they are today, but it was an early indicator that peercoin if bitcoins were to go up in value, so would the energy cost necessary peercoin keep computing as mineral difficulty presumably went up mineral more blocks were mined, or too many blocks trying to get in per unit of time? Canaan's products are relatively stable and their support is OK; bitmain on the other hand has many horror stories about breaking hardware and bad support.
Just enter the data of the Bitcoin miner you are planning on buying and see how long it will take you to break even or make a profit. Make sure to go over our different Bitcoin mining hardware reviews to understand which miner is best for you. Today, the Antminer S9 is the newest and most powerful miner. Because Bitcoin is an internet based currency, you need a place to keep your Bitcoins. Once you have a wallet make sure to get your wallet address. It will be a long sequence of letters and numbers.
Each wallet has a different way to get the public Bitcoin address but most wallets are pretty straight forward about it. Make sure you have a copy of the wallet. You can view a tutorial on how to create a secure wallet here. The reason is that if you computer crashes and you do not have a copy of your wallet. It is like burning cash. Now that you have a wallet you are probably roaring to go, but if you actually want to make Bitcoin money , you probably need to join a mining pool.
A mining pool is a group of Bitcoin miners that combines their computing power to make more Bitcoins. In a pool, you are given smaller and easier algorithms to solve and all of your combined work will make you more likely to solve the bigger algorithm and earn Bitcoins that are spread out throughout the pool based on your contribution.
Basically, you will make a more consistent amount of Bitcoins and will be more likely to receive a good return on your investment. To answer most of these questions you can use this excellent post from BitcoinTalk. You can also find a complete comparison of mining pools inside the Bitcoin wiki.
Once you are signed up with a pool you will get a username and password for that specific pool which we will use later on. Basically, for every miner that you have running, you will need to have a worker ID so the pool can keep track of your contributions.
You will need a mining client to run on your computer to that you will be able to control and monitor your mining rig. Depending on what mining rig you got you will need to find the right software. You can find a list of Bitcoin mining software here. If you want to compare different mining software you can do this here. OK, so hopefully now everything is ready to go.
Connect you miner to a power outlet and fire it up. Make sure to connect it also to your computer usually via USB and open up your mining software. You will actually start collections shares which represent your part of the work in finding the next block. Perhaps it would be more profitable for you to just buy Bitcoins with the money you plan to spend on Bitcoin mining. Many times just buying the coins will yield a higher ROI return on investment than mining.
What kind of internet connection speed do you need to be successful? We only have about 15Mb fibre here… And does the speed make a difference to the amount you can earn? The best option is to buy it directly from the manufacturer, when they have a new batch available.
Right now the S9 is not available:. So what is the best way to handle US income tax if you are a miner? Any action taken specifically for the purpose of gaining income outside of employment makes you an independent contractor in the eyes of the IRS. You can setup an LLC if you want but it is not necessary if you comply with your states regulations for IC work. Trading on Cryptocurrency is the most secured online trading in the world approved by federal governments..
Hello, I still dont understand why a rig that has say 10 — or gpu is not effective enough to mine bitcoin. What is in the antminer that makes it better at mining? Antminers are specifically designed — and made — for mining bitcoin, they run an algorithm that is very different from those that are run on gpu mining rigs, and they [Antminers] are more profitable at gernerating a return on investment ROI … but their downside is that they are a lot noiser to run and consumer a lot more electric.
The New User A Getting Started wizard means getting mining quickly A familiar, intuitive interface allows users to get up-to-speed Automatic updates make keeping MultiMiner and BFGMiner updated simple Notifications alert you of profitable coins to consider mining The Power User Configurable strategies for automatically mining currencies A built in Stratum Proxy allows you to point other miners at MultiMiner Integration with online services means information on available coins is always up-to-date Direct access to underlying mining engine arguments and API settings The Coin Farmer Automatically detect, monitor, and control standalone miners on your network such as those from AntMiner, Avalon, and KnC Remotely monitor, configure and control any MultiMiner rig on your network Monitor all of your rigs at a glance on your mobile phone or browser using MobileMiner Install updates for MultiMiner and BFGMiner to all miners on your network with one click It's completely brilliant.
I think it's the only viable GUI mining software, and the stats and the API implementation with current pricing and profitability is completely outstanding.
The only pre-requisite on Windows is version 3. Click Here to download the latest version of MultiMiner. Click Here to view and download the current source code at the official GitHub repo. As an Open Source project, the source code for MultiMiner is publicly available and regularly updated.
Scroll down to find out how you can help contribute to MultiMiner development. Whether helping with features, bugs, or documentation, forking and contributing to MultiMiner is always welcome and encouraged. The source code for MultiMiner is publicly available and regularly updated. You can download and compile the source code for MultiMiner using any of the following free tools: The source code for MultiMiner is structured in such a way that makes it easy to use and re-use for other projects.
The source on GitHub also includes a simple example that illustrates the basic functionality such as mining and monitoring mining progress.