How to start mining

 

How to start mining

Every day there are millions of new miners who want to earn a new currency. But, to ensure the process of cryptocurrency mining, it is necessary to take into account many important points: the choice of a video card, processor, software, fork, wallet, exchange. All this is just a small list of steps that are necessary for mining.

Choosing a video card for mining

When choosing video cards for mining, you need to pay attention to the following characteristics:

  1. Memory size. It must be at least 2 gigabytes, otherwise, the payback of the video card itself will take a long time, and the profit in the future will be minimal.
  2. Memory speed. The best video card according to this characteristic can be attributed to a card that has DDR 5 memory. It is the most profitable for mining in terms of computing ability and power consumption.
  3. Cooling. Video cards from Radeon have an active cooling system. The power of the card, as well as the service life, directly depend on the degree of cooling.
  4. Bus width. This indicator should be at least 256, if the bus width is less, then the mining speed will be minimal.
  5. Overclocking capability. This characteristic is not very important, however, the correct overclocking of the card can increase profit by 25-30% of the original power.

Among the most optimal video cards for mining are:

  • AMD Radeon RX 470;
  • AMD Radeon RX 480;
  • AMD Radeon RX 580;
  • Nvidia GeForce GTX 1060;
  • Nvidia GeForce GTX 1070;
  • Nvidia GeForce GTX 1080;
  • AMD FuryX.

Video cards differ in power and other characteristics, but all of them are relevant for cryptocurrency mining today.

Choosing a processor for mining

For cryptocurrency mining, it is necessary to choose the right components, including a processor. Currently the best are:

  1. Intel Celeron G1840 2.8GHz 2MB s1150 Box (BX80646G1840). The biggest advantage of this processor is its affordable price. It is suitable for building mining farms. Motherboard with LGA1150 socket. The presence of 2 cores, cache memory (2 megabytes). The thermal package of the processor is 53 W at maximum load. Active cooling system, which will 100% eliminate overheating.
  2. Intel Pentium G3260 3.3GHz 3MB s1150 Box (BX80646G3260). The release of the processor is carried out under the LGA1150 socket, so choosing a motherboard will not be a hassle. The presence of 2 cores, cache memory (3 megabytes). The advantage of the processor is low heat dissipation at maximum load. It also has an integrated graphics subsystem Intel HD Graphics, which is able to replace the video card at the original level.

When choosing a processor, it is necessary to take into account all the characteristics, since the speed of cryptocurrency mining depends on them.

Choosing a pool for mining

A mining pool is a server that distributes the calculation task among the participants. When a block is formed, participants receive a profit. A pool has a higher chance of forming a block than a single miner. But. It should not be forgotten that the profit is shared among all participants, but the option is more profitable compared to single mining.

When choosing a pool, you need to pay attention to the following indicators:

  1. Pool power. If the pool is new, then it usually does not have enough capacity to provide high profits.
  2. Own equipment. It is necessary to evaluate the performance of the video card with which the mining process is planned. If you beckon from old equipment, then the profit will not even cover the losses for electricity.
  3. Sharing profits. Most often, profits are divided proportionally to contributions. If it is not possible to make a significant contribution, then the optimal distribution of profits is equal.
  4. Payouts. You need to find out about the possibility of withdrawing funds to a bank card or electronic wallet, as well as commissions and percentages of the service.

When choosing a pool, you need to be careful, because future profits will depend on the right service.

Choosing software for mining

Software also plays an important role in the cryptocurrency mining process. If you choose the right programs that have a user-friendly interface, then it will become much easier to mine cryptocurrency.

Software

The best programs for receiving cryptocurrency are:

  1. Software 50Miner. This software is the best for cryptocurrency mining. The program is in Russian, quite easy to use. Even a novice miner can handle it. Also a positive feature of the program is the automatic authorization of the user. To download the program, you need to 
  2. BFGMiner program. Such a program is suitable for miners who value convenience and reliability. The advantages include the possibility of mining cryptocurrency using FPGA, as well as the power of the video card. Official site: http://bfgminer.org/
  3. Ufasoft Miner client. Training for further use of the program will not take more than 15 minutes. It is possible to change the pool, set the temperature, speed. Downloading the program from the official website: http://ufasoft.com/open/bitcoin/
  4. CGMiner program. A fairly well-known program, but it is more suitable for professional miners. The program has advanced features for cryptocurrency mining. You can download the latest version of the program from the developer's website: http://ck.kolivas.org/apps/cgminer/
  5. Eobot.exe program. The software requires a powerful graphics card. To make the program work at full capacity, you need to follow certain steps (set the mode to the maximum, install the MSI Afterburner program). The program is ineffective for single mining. Official website of the developer: https://www.eobot.com/software
  6. Soft Coin Mi Has a user-friendly interface. With a small capacity of the equipment, it is almost impossible to earn cryptocurrency. To download the program, you need to follow the link: https://coinminer.com/

Miners

Miners are the combination of many video cards (computers) into a single chain, which leads to an increase in profits.

Miners are divided into:

  • Created from a large number of video cards;
  • Based on ASIC processors;
  • Made up of FPGA modules.

The former are considered too energy-intensive, and they also require active cooling. The latter occupy a small area and are less energy-intensive and more reliable. Still others are quite expensive, but bring the biggest profit.

Choosing a Cryptocurrency for Mining

Initially, you need to decide on the type of cryptocurrency, as well as the strategy for its extraction. Mining at home does not always bring the desired profit, therefore, in order to receive larger amounts, it is necessary to invest part of the funds, regardless of the type of cryptocurrency, to develop your business for the production of innovative currency. You also need to take into account profitability and liquidity when choosing a currency.

What is a Bitcoin farm

 

What is a Bitcoin farm

Bitcoin is a worldwide virtual currency that is not issued by any particular state, but is generated by the system with the participation of users from many countries. The developer of the currency is a person or group of programmers under the nickname Satoshi Nakamoto. You can use BTC like any other electronic currency:

  • Pay in online stores or on sites that provide various services;
  • Exchange for dollars, rubles, euros or other banknotes;
  • Transfer to other users.

A Bitcoin farm is a set of powerful computer equipment with which Bitcoin is issued. Another name for this process is mining. The term means "mining", by analogy, as in a mine.

One farm can have from one device to several tens of thousands. For example, one of the largest enterprises for the issuance of cryptocurrency, located in China, has 21,000 pieces of equipment. It is installed in several long hangars equipped with an excellent ventilation system. From the side, one-story buildings lined up in one row really resemble a farm. The maintenance staff consists of 50 people.

Types of bitcoin farms

Bitcoin farms can be classified, depending on the hardware they run on:

  1. Multiple graphics cards connected to one PC. Only AMD devices can cope with mining, but they overheat in the process, requiring additional cooling. This type of equipment was common at the dawn of the emergence of cryptocurrency generation. At the moment, the design of several video cards is practically not used, because it performs operations too slowly, and it consumes a lot of energy.
  2. Field-Programmable Gate Array (FPGA module). This is a programmable matrix that processes data at hyper speeds. It doesn't require a lot of energy. Additional cooling, although used, is less powerful than for video cards. The component does not take up much space, so the second generation of bitcoin farms is more compact.
  3. Special purpose microcircuits (ASIC). They perform only a certain function in the device, so the calculations occur at a very high speed. The latest generation of bitcoin farms use only ASICs. Very small dimensions allow you to install several dozen devices on 1-2 square meters, but subject to good ventilation and cooling.

Companies specializing in the production of equipment for mining are constantly introducing new developments. Therefore, the next generation of farms will probably use specific devices adapted exclusively to generate cryptocurrency at maximum speed.

How to set up a bitcoin mining farm

Earning on bitcoins is a profitable business, especially considering its today's rate, which has exceeded $ 8,000 per 1 BTC. The assembly of an ASIC-based farm can be divided into three stages:

  1. Preparatory work.
  2. Choice of equipment.
  3. Assembly and connection of components.

Let's consider in detail the implementation of all operations.

Preparation

Preparation includes choosing a location for the ASIC installation, as well as finding a reliable supplier who will deliver the equipment in the shortest possible time and offer the lowest possible price. After spending a few hours or days, you can be sure that the investment will be profitable. With careful selection and verification of the supplier, the possibility of running into a scam is excluded when the company offers components at a low price, asks for an advance payment and disappears from view.

Choice of accessories

Domestic manufacturers do not produce ASICs, so they will have to be ordered in online stores, or on sites like AliExpress, Avito, etc. These can be both new and used devices. In addition to the miner, you will need:

  • Power supply of appropriate power. It may be included in the ASIC kit.
  • PC or laptop. They are not needed directly to connect the equipment, but the gadget is necessary to view statistics and withdraw earned funds. Its technical characteristics do not play a role, since it will only be needed to access the Internet.

Specifications and prices of the most popular models of 2017

Name

Antminer S9

 

 

Ebit E9 Plus Miner

Antminer R4

 

 

Power

1350W

 

1305W

845W

hash rate

13.5TH/s

 

9TH/s

8.6TH/s

approximate price

$2,100

$2800

$1000

Farm assembly

The standard kit consists of an ASIC and a power supply. Instructions for connecting the device:

  1. We install the device in the chosen place. The distance from the wall must be at least 30 cm.
  2. We connect the pin connectors. At one end, the cords are soldered into the PSU, and at the other end there are connectors that must be inserted into the slots located on the device case.
  3. We establish an Ethernet connection by connecting a network cable to the router through the LAN connector.
  4. We insert the power cable into the PSU and plug it directly into a power outlet or surge protector. If the device is working correctly, the green indicator will light up.
  5. We determine the IP address from our PC, then go to sites with pool directories (crypto-mining.ru, BitMakler.com and the like), and select the resource where we want to register.
  6. We start an account by entering the IP address of our ASIC during registration.


It will be possible to monitor the earnings of money from your Personal Account. The profile will reflect the statistics of the profit received, as well as the speed of the miner.

How much does a home bitcoin farm cost

The purchase of one set of equipment will cost approximately 2000-2500 dollars, which is approximately 110-150 thousand rubles. The newest models cost about 200 thousand rubles. But do not forget that one ASIC consumes 25-30 kW of energy per day, so you need to add 1-2 dollars for each day the device works (the cost of one kW depends on the region of residence). Plus payment for the Internet, which is determined by the provider.

How to evaluate profitability

It is only possible to calculate the time for which a bitcoin farm will pay off, since the exchange rate is constantly changing and it has grown almost 10 times over the year. For calculations, special online calculators are used, where all data is entered:

  • Brand of equipment or its HashRate indicators;
  • ASIC power;
  • The cost of electricity;
  • BTC course;
  • Pool block reward.

Approximate calculations show that when buying a farm for 200 thousand rubles and the cost of electricity is 2 rubles per kW / h in 5 months, subject to continuous operation. HashRate indicators were used - 13.5 TH / s, power - 1300 W / h. Feedback from cryptocurrency miners suggests that the payback of less powerful, and therefore cheaper, equipment sets is 7-9 months.

How does a bitcoin farm work

Mining works on the principle of performing computational operations. Simply put, the machines crack the code that gives them the key to Bitcoin. One farm is not able to quickly decrypt it, so users are grouped into groups, the so-called pools. By registering an account on one or another pool, a person becomes a member of the group. Without joining the pools, they can afford to mine bitcoins on their own, only very large farms.

When a pool solves the next code, all its members receive a reward. It can be distributed both proportionally between all devices, and depending on the power of the equipment or other indicators.

Where to set up a bitcoin farm

Experienced bitcoin miners do not recommend placing the equipment in the living room, as it makes noise and also tends to overheat during operation. Moreover, if there are several ASICs, they will be able to raise the temperature in the room to 40 ° C and above. You can install the equipment in a separate room or on a glazed balcony (the temperature must be at least 0 °C). But the best for these purposes is an empty office that can be rented.

The main criteria to consider when choosing a room:

  1. Good ventilation and cooling system. Despite the fact that each miner is equipped with a built-in cooler, a serious farm will require the installation of air conditioners, at home you can get by with a fan.
  2. Stable internet connection. Its speed does not matter, but if a break occurs, the system will have to be restarted. To do this, the equipment is equipped with a special controller. Some ASICs are initially equipped with an automatic reset function.
  3. High quality wiring. When installing an ASIC at home, it is not recommended to turn on powerful electrical appliances at the same time, since the household network is not designed for such loads and automatic protection will work. And since the miner must work 24/7, this will be very problematic, especially if there are several of them. One device is comparable in power to an electric kettle, iron or vacuum cleaner. In offices or warehouses, electrical wiring can withstand heavy loads, so installing several dozen ASICs in them is more preferable.

Possible problems and difficulties

Problems can begin already at the stage of purchasing equipment. Since it is sent from other cities and countries, ASIC may get damaged to the recipient of the package. It is not always possible to determine this visually: the case will be in perfect condition, but the boards and wires may be damaged. To avoid such an incident, you should order only from trusted suppliers who provide a guarantee.

Other possible problems:

  1. Automatic protection is constantly triggered and the device turns off. It could be overheating or a voltage drop in the network.
  2. The red indicator is on. This means that the wires were connected incorrectly, a system failure occurred, or an ASIC failure occurred. And in some cases, only flashing the device helps.
  3. The network connection is constantly lost, and the PC does not find the module by IP address. It is necessary to restart the modem, turn off the PSU from the network, and reset the settings on the equipment to factory settings. If these manipulations do not help, the controller may have burned out or another part has failed. Service specialists will be able to help in solving the problem.

Bitcoin faucets

 

Bitcoin faucets

The rapid growth in the popularity of various cryptocurrencies, primarily bitcoin, has led to the emergence of new mechanisms for obtaining them. One of them is called bitcoin faucets, most of which are online advertising resources. For entering such sites and staying on them for a certain time, the visitor receives satoshi - a small part of bitcoin, which is a kind of analogue of cents or kopecks of the most famous cryptocurrency. Moreover, in some cases it is not even required to go through the registration procedure on the site.


What are bitcoin faucets?

The term "bitcoin faucet" (English version - bitcoin faucet) appeared relatively recently. It denotes a specialized site that earns by placing ads. Obviously, the income of such Internet resources directly depends on the number of visitors. In order to increase their number, bitcoin faucets provide new visitors with the opportunity to receive cryptocurrency. In this case, we are talking about several satoshi, the smallest possible unit of the virtual currency bitcoin (1 satoshi = 0.00000001 bitcoin).

Currently, there are a fairly large number of bitcoin faucets and new ones appear almost every day. Naturally, a high level of competition leads to the fact that such Internet resources are forced to offer more and more favorable conditions in order to interest visitors to go to their site. Therefore, today, after spending a certain amount of time, it is quite possible to earn a fairly significant amount in cryptocurrency with the help of bitcoin faucets.

How do faucets work?

The principle of operation of a bitcoin faucet is quite simple. Site owners place ads on it in the form of banners, videos or other similar tools. Visitors to an Internet resource follow links or watch videos, as a result of which advertising reaches its goal. This is what the owners of the bitcoin faucet pay for. There are other options for actions that people who visit the site and want to earn satoshi can perform:

  • Play online games hosted on the Internet resource;
  • Take part in lotteries or contests;
  • Open special cells called captchas;
  • Click on advertisements and banners.

How to make money on faucets?

In order to make money on a bitcoin faucet, you must fulfill the conditions set by this particular site. It could be:

  • the number of clicks on advertising links;
  • the number of ads viewed;
  • certain time spent on the site.

Quite often, a bitcoin faucet requires pre-registration when you first visit the site. In this case, the visitor must specify his own e-mail and bitcoin wallet. However, in recent years, the login system without registration has been increasingly used. It is usually supplemented by the requirement to stay on the site for some time, after which the service is activated, asking the visitor for the number of his bitcoin wallet to transfer the set number of Satoshi.

Obviously, to start making money on the site in question, you must first create your own bitcoin wallet. In addition, given the small size of the amounts received, it is also recommended to use specialized services that allow you to make quick and convenient transactions with Satoshi and accumulate cryptocurrency, the so-called micro-wallets.

It is important to understand that each resource sets a certain threshold for the withdrawal of funds received. Therefore, one should not think that it will be possible to transfer cryptocurrency from a bitcoin faucet every day. This is a much more labor intensive and time consuming process.

Review of the best bitcoin faucets

Today, a large number of various bitcoin faucets are available on the network. Moreover, new similar resources appear almost constantly, long lists of which can be easily found on the Internet. Therefore, anyone can easily find the most suitable sites for him and start earning cryptocurrency. Naturally, to obtain a relatively noticeable amount, you will need to spend an appropriate amount of time.

New bitcoin faucets

As already noted, the number of bitcoin faucets hosted on the network is constantly increasing. Among the relatively new similar resources are:

  • faucet.win. The site is distinguished by a rather large amount of possible winnings, which is up to 160 satoshi. At the same time, the frequency of receiving cryptocurrency is 1 hour;
  • biciklo.xyz. The original resource, which is a bitcoin faucet, which is complemented by a betting system. As a result, the size of the winnings affects the probability of receiving it. It is quite logical that the size of the payout in this case ranges from 80 to 400 satoshi, the opportunity to earn which appears every 125 minutes;
  • bfaucet.com. One of the most popular new bitcoin faucets. Provides visitors with the opportunity to receive from 25 to 125 Satoshi every 5 minutes.

Bitcoin faucets with a minimum withdrawal threshold

In order to withdraw received satoshi from a bitcoin faucet, you need to accumulate a certain amount. The amount sufficient for withdrawal is set by each site individually. Therefore, it is quite logical that Internet resources with a minimum withdrawal threshold are of the greatest interest.

Currently, there are a large number of bitcoin faucets that allow you to transfer the accumulated cryptocurrency even when receiving a relatively small amount. Such resources include: boxbit.co.in (minimum withdrawal threshold is 5600 Satoshi), moonbit.co.in (6000 Satoshi), autofaucet.io (15000 Satoshi) and many other similar sites.

Bitcoin faucets with instant payout

Recently, bitcoin faucets have gained serious popularity, which provide visitors with the opportunity to withdraw earned Satoshi to a micro-wallet without waiting for the accumulation of a certain amount, that is, almost instantly. Naturally, such a significant advantage is offset by the fact that such resources are less stable and less likely to win. Some of the most popular instant payout Bitcoin faucets today include: bit-go, bit-20hk, get-free-bit, etc.


Accumulation taps

A distinctive feature of accumulative bitcoin faucets is the ability to withdraw funds only after receiving a certain amount of cryptocurrency on the account. Above, examples of similar Internet resources have already been given, indicating the minimum amount of Satoshi available for withdrawal. The main advantage of sites that provide for a cumulative withdrawal principle is a relatively high probability of winning and a large amount of lump sum payments.

Taps with a timer

The principle of operation of bitcoin faucets with a timer provides for the possibility of receiving the amount of Satoshi established by the rules of the site after a certain time spent on it. This option of earning cryptocurrency is in rather serious demand, as it does not require any excessive efforts or complex operations from the visitor. To get Satoshi, you just need to be on a certain site. The most popular and "fat", that is, providing the best opportunity to earn, among such resources are FreeBitcoin, RenaFauset, FasterCkick, etc.


Bitcoin faucets pay-per-view

Initially, most of the bitcoin faucets worked according to the following principle - the visitor received a reward for viewing an advertisement, video, or clicking on a link. Now other types of Internet resources have become widespread, although Satoshi earnings for viewing advertising materials are still in demand. In the top of the most famous similar resources are: MineBit, Adbtc, Fiload and others.

dogecoin wallet

 

dogecoin wallet

Dogecoin is a cryptocurrency that can be easily exchanged for rubles, dollars, euros or any other currency in the world. To date, it has become very popular among fans of digital money. The currency has good volatility, and I was especially surprised by the exchange rate against the dollar, which rose by 2017. An important advantage of Dogecoin crypto coins is that they are present in almost every trading pair. You can also collect coins for free.

What is a dogecoin wallet?

Dogecoin is based on Litecoin, but the system subsequently became more complex and its value increased. At the end of 2017, the situation returned to normal and the exchange rate was in a stable state. That is why you should not miss the opportunity to earn on this resource with the help of dogecoin faucets. Moreover, this cryptocurrency has become one of the most reliable and profitable. Students, the unemployed, and pensioners become users of the currency. Anyone can help their own budget by simply registering on the official website. Novice users have many questions about registering on the site, conducting transactions.

Benefits of dogecoin wallets

Dogecoin got its name from the Internet meme Doge, and the logo shows the muzzle of a dog of the Shibainu breed. Cryptocurrency occupies a worthy place in the digital gold market. The benefits include:

  1. Dogecoin is an opportunity for many to earn, albeit small, but still amounts. For free replenishment of the wallet, "faucets" are used. These are sites that transfer small amounts to a wallet account as a reward for using the service. Popular faucets include FreeBitco and FreeDoge. If you work hard during the day to get the desired currency, then at the end of the day you will get a good amount. Working with services of "faucets" integrated with Faucetbox gives an excellent result: in five minutes you can get up to 10 Doge, and 13,000 Satochi in less than an hour.
  2. Instant exchange. The speed of the Litecoin system is preserved, so transactions are signed instantly. And you no longer have to wait up to three days, as with a classic Bitcoin wallet.
  3. Dogecoin transaction fees are really low. Even when using a crypto wallet on the Cryptnator service, which is not distinguished by low commissions, the operation will be quick, you will have to pay the minimum fee.
  4. Convenience in using the service is achieved due to the absence of a limit on emission, so virtual coins will be issued exactly in the amount that users need to complete transactions, subject to a normal economic situation and an increase in trade.
  5. Ruble operations are carried out on special resources. For example, on Exmo, this can be done quickly and without unnecessary questions in 4 clicks. It should be borne in mind that you will first need to exchange dogs for bitcoins.
  6. Anonymity. For a Dogecoin wallet, it is not at all necessary to provide personal data. You can make transfers or purchases immediately after creating a wallet.
  7. Safety during operations gives you confidence in the future.
  8. The participation of the community in charitable events and the clean reputation of the new payment system, which was not tarnished by scandals with the black market, the arms trade.
  9. You do not need to have an advanced computer to start buying coins, as, for example, to conduct transactions with bitcoin. A regular laptop is just right for investing in Doge.

How to create a Dogecoin wallet?

There are several ways to create a wallet:

Register an online wallet using the following instructions:

  • Open the official cryptocurrency website on the computer and select the wallet tab, then "New wallet". If the wallet was created earlier, click on the adjacent "Existing wallet" button.
  • You will then need to enter your email address and create a password.
  • After filling out the form, the “Create wallet” tab appears, it is circled in green.
  • And after another 4 seconds, a message arrives with the identifier of the personal account.
  • And nothing else is required from users, since the wallet has already been created. The process is very similar to creating a personal account in Blockchain.

On a computer, creating a wallet is also easy to design:

  • Before directly creating a wallet, you need to download and install the desired program. MultiDoge. This free application replaces the registration on the official site, due to the fact that it is based on the site.
  • The program is installed normally.
  • After installation, you need to wait for the end of synchronization. A new wallet is immediately created, if necessary, you can create more than one payment instrument. We set a password for each wallet for the security of transactions.
  • The MultiDoge program for the convenience of users has acquired the function of importing and exporting keys. It is very important to keep secret keys and passwords. If you need to create a new wallet, it's easy to do, just import the keys.

Cryptocurrency is suitable even for a long-term investment, especially since their popularity in society is growing.

Flaws

Among the shortcomings, one can note a low exchange rate, unlike the Bitcoin system, as well as difficulties with withdrawing funds. Dogecoins are not very common, so to convert them into rubles or another currency, you must first exchange the currency for bitcoin and only then sell it for dollars

Alternatives

As an alternative to Exmo, you can sell Doge coins on other resources, such as Yobit.net, Livecoin, C-CEX, HitBTC and others. You can also buy or exchange coins on these sites.

Nuances and possible problems

Most users sooner or later have problems using the Dogecoin wallet, this is due to technical malfunctions or difficulties with the wallet itself. Typical problems:

  1. There are no mandatory transactions. In this case, restarting the wallet can help. If this does not help, then there is a high probability that the block chain has split. You need to update the wallet for this, download the latest program, install it and go to the configuration storage folder, then copy wallet.dat, delete the “bladat” folder, run the updated program, the correct block chain starts to run.
  2. The entrance to the wallet is blocked, an inscription in English appears: “Failed to check whether you have 2FA enabled”. To solve the problem, it is worth entering in the login line not the wallet address, but the wallet ID itself, that is, 36 digits. Then, after logging in, you need to click on the "Import Export" boxes and copy the encrypted and unencrypted wallet. It is mandatory to make a copy of the "paper wallet".



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