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Popular among various people; because it can also be earned in addition to being an asset. The way to earn it is to use a miner. Many people make money by installing Bitcoin Miner. Join us in this article to teach you how to do this, and you can easily have a share in this fledgling and lucrative world.

Bitcoin miner

hardware Bitcoin mining is divided into three main categories with different prices and extraction power. This article guides installing a bitcoin miner and explains how each one works.

You probably know how bitcoin works and what mining means. But do you know what to do to install a bitcoin miner? The first thing you need to do is decide on the right hardware, and there are two things to keep in mind when making this choice:

Hash rate or hash rate

A hash rate is the number of calculations your hardware can perform per second to solve a math problem. Hash rates are measured in time, location, and frequency (MH / sec, GH / sec, and TH / sec). The higher your hash rate (compared to the average hash rate), the more likely you will solve the transfer block. Bitcoin Bitcoin Mining Hardware Comparison Page is a good place to get new information about different hardware hash rates.

energy consumption

After installing Bitcoin Miner, electricity is consumed, and electricity consumption is also costly. It is better to look at the power consumption of your hardware in terms of watts when choosing.

Use this hash and power consumption to determine how many hashes you get for each watt of electricity you use. To do this, divide the number of hashes by the number of watts.

For example, if you have a device with 500GH / sec and consumes 400 watts of power, you will get 1.25GH / sec per hash. You can check your electricity bill or use the online electricity price calculator to determine how much cash you will get in terms of cash coins.

However, you have to make another prediction. In some cases, you are running mining hardware on your computer. Your computer has its power supply, which is more than the power consumption of the extraction hardware, so you should consider it in your calculation to install Bitcoin Miner.

Bitcoin mining hardware

There are three major types of hardware that are specific to bitcoin miners: GPUs, FPGAs, and ASICs. We will continue to examine each of this hardware in detail.

Bitcoin mining with CPU / GPU

The weakest bitcoin mining hardware is your computer. Theoretically, you can extract bitcoins using your computer’s CPU, but this is very slow by today’s standards and of no use in practice.

You can increase your bitcoin hash rate by adding graphics hardware to your desktop computer. Graphics cards have graphics processing units (GPUs). These cards are designed to perform difficult mathematical operations so that they can calculate all the complex polygons required for high-end video games. This feature, in particular, makes them suitable for SHA hashing calculations needed to solve transfer blocks.

You can buy GPUs from two major retailers: ATI and Nvidia. High-end cards cost hundreds of dollars and, of course, have a significant advantage over CPU hashing. For example, ATI 5970 graphics cards can give you more than 800 CPUs of power per second, while your CPU normally has less than 100 MHz per second.

The good thing about these GPUs is that they leave you free to install a bitcoin miner. Lightcoin, for example, uses a different proof-of-work algorithm for Bitcoin called Scrypt. Scrypt is optimized to be compatible with CPUs and GPUs, making it a good choice for GPU extractors who like to work with various currencies. These days, bitcoin mining is no longer done with a GPU. With the advent of ASIC mining power, which graphics cards can not compete with, the difficulty of bitcoin mining has doubled.

Bitcoin mining with FPGA

An FPGA circuit is an integrated circuit designed to be configured after construction. This enables the mining hardware maker to purchase high-volume chips and then customize them to install the bitcoin miner. Because these chips are made for extraction, they increase the performance of the equipment compared to CPUs and GPUs. One-chip FPGAs have been shown to operate at their highest level, with a capacity of about 750 MHz. Of course, it is also possible to put more than one chip in one device.

Bitcoin mining with ASIC

Special purpose integrated circuits (ASICs) are specially designed to do just one thing: extract bitcoins with incredible speed and relatively low power consumption. Since these chips are designed and manufactured solely for this purpose, their production is expensive and time-consuming, but amazing speed. At writing, devices are being sold at speeds between 5 and 500 GHz. Vendors have already promised more powerful ASIC devices with a computing power of 2 trillion per second. In September 2015, Company 21 introduced its Bitcoin computer, which contained an extraction chip and had approximately $ 400. The company targets developers who can build applications in this area, but it has nothing to do with developers whose goal is to extract bitcoins for profit.

 

Mining profitability calculation

Before purchasing hardware to install Bitcoin Miner, calculate your mining profit using Genesis Block’s advanced mining profitability calculator. You can enter input parameters such as equipment cost, hash rate, power consumption, and current bitcoin price to determine how much of your capital will be returned.

Another key parameter is network stiffness. This metric specifies how difficult it is to solve transport blocks, and this metric varies according to the network’s hash rate. Network difficulty is likely to increase significantly as ASICs enter the market, so by increasing this metric in the calculator, you will see the return on investment when more people join the game. Once you have selected your hardware to install Bitcoin Miner, you need to do a few more things:

software download

Depending on the equipment you choose, you will need to run the software to take advantage of it. When using GPUs and FPGAs, you will usually need a host computer that runs two things: a standard bitcoin client and mining software.

Standard bitcoin client

The software connects your computer to the network, connecting with other bitcoin clients, facilitating transfers, and maintaining the blockchain path. Downloading the entire bitcoin blockchain required to get started takes time. The bitcoin client effectively synchronizes the information between your miner and the bitcoin network.

Install the bitcoin mining software

Bitcoin mining software is what instructs the hardware to do this difficult task: go through the transfer blocks to solve them.

There are different types of software depending on your operating system. There is a special software for Windows, Macs, and other operating systems.

You may also need mining software for your ASIC extractor. However, some newer models promise to handle anything pre-configured, including a bitcoin address, so all you have to do is Is to connect the plug to the socket.

Join a pool

You have now completed the bitcoin miner installation process. You will have little chance of succeeding in extracting bitcoins unless you do so with others. To do this, you must join Bitcoin Mining Pools.

Concluding remarks

This article has provided you with what you need to install Bitcoin Miner. If you do this process, you can save bitcoins for yourself, but you should not expect your profit to be as large as the largest banks in the world because you have so many competitors that are far ahead of you.