How to start mining for beginners
The idea and title of the article is suggested by the Xao user in a comment to a recent post. What should we, ordinary people, do with Bitcoin, as well as numerous questions on the Toaster? This instruction will help start mining on ordinary computers and laptops running Windows or Linux in the pool of joint cryptocurrency generation.
As dzzh correctly noted
Therefore, you will have to start mining with the choice of cryptocurrency. This instruction consists of 5 simple steps:
There are already quite a few Bitcoin forks, as well as cryptocurrencies based on their own source code. The main criterion for selection is the profitability of mining cryptocurrency. A secondary criterion, for example, for me is its liquidity , i.e. Ease of handling cryptocurrency in the so-called. "Cash" (rubles, dollars, euros in your bank account).
Also used is the encryption algorithm used . Bitcoin is based on SHA-256 , to mine bitcoins now makes sense to owners of expensive farms. But for example, scrypt uses memory intensively. This makes it problematic to use and create special ASIC processors for scrypt cryptocurrency and makes it possible to effectively use ordinary computers with video cards for mining.
In other words, how much cryptocurrency can be earned per unit of computational complexity (as a unit you can take a unit hashrate, measured hash / s).
It makes sense to evaluate the profitability personally for yourself, for example, in the number of coins you receive per day or per month.
For example, my Nvidia GTX 770 graphics card allows me to mine Feathercoin at a speed of 210 khash / s, receiving from the pool ~ 6 FTC per day, which, depending on the exchange rate on the exchange, gives me 60-100 rubles per day.
Evaluate profitability will help the following resources:
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It will help assess the following resources with time schedules forks courses:
Or you can simply choose from those forks that are traded on the Russian-language stock exchange btc-e.com , where we will “cash out” the earnings from mining. This will avoid an extra step towards getting a profit from mining. If you still choose a fork that is not traded on the stock exchange, welcome to the cryptsy.com exchanger.
The key factor for your profit from mining is the pool commission - the percentage of the block amount that goes to the pool during mining, the rest of the block reward is shared between the miners of the pool. You also need to pay attention to the commission from transactions on the withdrawal of coins from the pool to your wallet. Additional features provided by the pool for monitoring workers and viewing their statistics are important.
On the selected pool you need to register, create logins and passwords for your workers. It is desirable that there be as many workers as you can mine the cryptocurrency. However, you can start mining on several computers with one worker, then their computational power and results will be summed up.
For mining cryptocurrency on SHA-256, scrypt algorithms, you can use any of the popular miners:
In the case of using the miner cgminer, for example, for Linux without a graphical interface, type in the command line:
The example implies that the pool supports the stratum protocol, which is the de facto standard for all modern pools.
If there is no video card, you can mine on the central processor.
If the authorization parameters and the URL of the pool are correctly configured, you will see a window with information about mining in the pool after launch.
Download the wallet from the official site of the selected fork.
Create an address in your wallet to receive coins earned in a pool and enter it in the Account - Payments of your pool section.
Payments directly to cryptocurrency exchanges, such as btc-e.com, are allowed, you must first register there and create an address to replenish your chosen cryptocurrency.
Do not forget about the commission from transactions to withdrawal - the more often you withdraw cryptocurrency from the balance of the pool, the more often you pay this commission.
UPD January 1, 2014 at 02:40 Thank you citius for the comment.
Skip the 1st step and reduce the 2nd to help multipools, such as Middlecoin or Switchercoin.
Happy New Year, good luck and profitable mining in 2014!
As dzzh correctly noted
There is no meaning now bitcoin mine. Some small coins to generate and output through Bitcoin exchanges - still yes.
Therefore, you will have to start mining with the choice of cryptocurrency. This instruction consists of 5 simple steps:
- Choice of fork
- Pool selection
- Miner selection
- Start mining
- Withdrawal to your wallet
1. Choice of fork
There are already quite a few Bitcoin forks, as well as cryptocurrencies based on their own source code. The main criterion for selection is the profitability of mining cryptocurrency. A secondary criterion, for example, for me is its liquidity , i.e. Ease of handling cryptocurrency in the so-called. "Cash" (rubles, dollars, euros in your bank account).
Also used is the encryption algorithm used . Bitcoin is based on SHA-256 , to mine bitcoins now makes sense to owners of expensive farms. But for example, scrypt uses memory intensively. This makes it problematic to use and create special ASIC processors for scrypt cryptocurrency and makes it possible to effectively use ordinary computers with video cards for mining.
Mining Profitability
In other words, how much cryptocurrency can be earned per unit of computational complexity (as a unit you can take a unit hashrate, measured hash / s).
It makes sense to evaluate the profitability personally for yourself, for example, in the number of coins you receive per day or per month.
For example, my Nvidia GTX 770 graphics card allows me to mine Feathercoin at a speed of 210 khash / s, receiving from the pool ~ 6 FTC per day, which, depending on the exchange rate on the exchange, gives me 60-100 rubles per day.
Evaluate profitability will help the following resources:
- Energy and Profit Calculator www.coinwarz.com
- A calculator with a comparison table of popular forks (enter your speed below) dustcoin.com
')
Cryptocurrency liquidity
It will help assess the following resources with time schedules forks courses:
Or you can simply choose from those forks that are traded on the Russian-language stock exchange btc-e.com , where we will “cash out” the earnings from mining. This will avoid an extra step towards getting a profit from mining. If you still choose a fork that is not traded on the stock exchange, welcome to the cryptsy.com exchanger.
2. Pool selection
The key factor for your profit from mining is the pool commission - the percentage of the block amount that goes to the pool during mining, the rest of the block reward is shared between the miners of the pool. You also need to pay attention to the commission from transactions on the withdrawal of coins from the pool to your wallet. Additional features provided by the pool for monitoring workers and viewing their statistics are important.
On the selected pool you need to register, create logins and passwords for your workers. It is desirable that there be as many workers as you can mine the cryptocurrency. However, you can start mining on several computers with one worker, then their computational power and results will be summed up.
3. The choice of miner
For mining cryptocurrency on SHA-256, scrypt algorithms, you can use any of the popular miners:
- cudaminer - for mining on Nvidia graphics cards (GPUs)
- cgminer - for mining on ATI graphics cards (GPU)
- pooler cpu miner (minerd) - for mining on processors (CPU)
4. Starting a mining
In the case of using the miner cgminer, for example, for Linux without a graphical interface, type in the command line:
./cgminer --scrypt -o stratum+tcp://_: -u Weblogin.Worker -p Worker_password The example implies that the pool supports the stratum protocol, which is the de facto standard for all modern pools.
Mining on CPU
If there is no video card, you can mine on the central processor.
- Download Pooler CPU Miner 32bit or 64bit for Windows .
- Unzip the archive and go to the folder you created.
- Create a text document with the following content:
minerd.exe --url stratum+tcp://_: --userpass Weblogin.Worker:Worker_password
where Weblogin.Worker is the name of your worker, and Worker_password is his password - Save the document, then rename, for example, miner.bat, and run it
If the authorization parameters and the URL of the pool are correctly configured, you will see a window with information about mining in the pool after launch.
5. Withdrawing to your wallet
Download the wallet from the official site of the selected fork.
Create an address in your wallet to receive coins earned in a pool and enter it in the Account - Payments of your pool section.
Payments directly to cryptocurrency exchanges, such as btc-e.com, are allowed, you must first register there and create an address to replenish your chosen cryptocurrency.
Do not forget about the commission from transactions to withdrawal - the more often you withdraw cryptocurrency from the balance of the pool, the more often you pay this commission.
UPD January 1, 2014 at 02:40 Thank you citius for the comment.
Skip the 1st step and reduce the 2nd to help multipools, such as Middlecoin or Switchercoin.
Happy New Year, good luck and profitable mining in 2014!
Source: https://habr.com/ru/post/207844/
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