How to Set Up a Bitcoin Miner?

There are three main categories of bitcoin mining hardware, each of which is more expensive and stronger than the last. This guide for preparing bitcoin miners explains each of them, and talks about how to make it work.

Hot to Mine Bitcoin

At this stage, you will understand how bitcoin works, and what mining means. But we need to move from theory to practice. How can you manage the bitcoin mining hardware and start making digital money? The first thing you need to do is decide on your hardware, and there are two main things to think about when choosing it:

Level of desire
This is the amount of calculation that your hardware can do every second while trying to solve a mathematical problem that we describe in our mining section. The hash speed is measured in megahash, gigahash, and terahash per second (MH / sec, GH / sec, and TH / sec. The higher your hash rate (compared to the current average hash rate), the more likely you are to complete the block transaction. The bitcoin wiki mining hardware comparison page is a good place to look for rough information about hash rates for different hardware.

Energy consumption
How to set up bitcoin miners All of this computing power chews electricity, and that requires money. It's best to pay attention to your hardware's energy consumption in watts, when making a choice. You want to make sure that you don't spend all your money on electricity to mine coins that won't be worth what you pay for.

Use these two factors to find out how much hash you get for each watt of electricity you use. To do this, for the hash count with the number of watts.

For example, if you have a 500 GH / second device, and require 400 watts of power, you get 1.25 GH / sec per watt. You can check your electricity bill or use an online electricity price calculator to find out what it means in cash.

However, there is a warning here. In some cases, you will use your computer to run mining hardware. Your computer has its own electrical power above the mining hardware, and you must put it in your calculations.

Bitcoin Mining Hardware
There are three main hardware categories for bitcoin miners: GPU, FPGA, and ASIC. We will explore it in depth below.

Mining Bitcoin CPU / GPU
The least powerful hardware category of bitcoin mining is your own computer. Theoretically, you can use your computer's CPU to mine bitcoin, but in practice, this is very slow according to current standards so it's useless.

You can increase your bitcoin hash rate by adding graphics hardware to your desktop computer. The graphics card has a graphics processing unit (GPU). This is designed for heavy math appointments so that they can calculate all the complex polygons needed in high-end video games. This makes them very good at SHA math hashing needed to complete transaction blocks.

You can buy GPUs from two main vendors: ATI and Nvidia. Upscale cards can cost hundreds of dollars, but also give you a significant advantage over CPU hashing. For example, the ATI 5970 graphics card can give you more than 800 MH / s compared to the CPU, which generally gives you less than 10 MH / s.

One of the nice things about GPUs is that they also let your options open. Unlike other options discussed later, this unit can be used with cryptocurrency other than bitcoin. Litecoin, for example, uses evidence of a different work algorithm for bitcoin, called Scrypt. It has been optimized to be friendly with the CPU and GPU, making it a good choice for GPU miners who want to switch between different currencies.

Most GPU mining is dead today. The difficulty of mining Bitcoin has increased rapidly with the release of ASIC mining power so that graphics cards cannot compete. If you want to use it, it's best to equip yourself with a motherboard that can take multiple boards, to save running separate PSUs for different boards.

Bitcoin FPGA mining
Field Programmable Gate Arrays are integrated circuits designed to be configured after they are built. This allows mining hardware manufacturers to buy chips in volume, and then adjust them for bitcoin mining before putting it into their own equipment. Because they are customized for mining, they offer more performance improvements than the CPU and GPU. The single FPGA chip looks to operate at around 750 megs / sec, even though it's at a high level. Of course it's possible to put more than one chip into a box.

ASIC Bitcoin Miners
This is where the real action is. Special Application Integrated Circuits (ASIC) are specifically designed to do only one thing: mining bitcoin at a speed that destroys the mind, with relatively low power consumption. Because these chips must be specifically designed for the task and then made, they are expensive and time-consuming to produce - but the speed is amazing. At the time of writing, units are sold at speeds anywhere from 5-500 Gigahash / sec (although actually sending some of them to them to send has become a problem). Vendors have promised ASIC devices with far greater strength, stretching to a range of 2 Terahash / sec.

In September 2015, 21 released ‘Bitcoin Computer‘, which holds mining chips and sells for around $ 400. This is intended for developers to build applications with and not those who want to mine bitcoin to make a profit.

21 'Bitcoin Computer', which is intended for developers and retail for $ 400.

Read the latest news about developments and bitcoin mining companies.

Calculate mining profitability
calculate Before making a purchase, calculate the projection of your miner's profitability, use the flagship mining profitability calculator from The Genesis Block or this one. You can enter parameters such as equipment costs, hash rates, power consumption, and current bitcoin prices to see how long it will take to repay your investment.

One other key parameter here is network difficulties. This metric determines how difficult it is to complete a transaction block, and varies according to the network hash level. Difficulties will likely increase substantially because ASIC devices are on the market, so it may be necessary to improve this metric in the calculator to see what returns on your investment will be as more people join the game. Use this guide to calculate mining profitability for more information.

After choosing the hardware, you must do a number of other things:

Download the software
Depending on the equipment you choose, you must run the software to use it. Usually when using GPU and FPGA, you need a host computer that runs two things: standard bitcoin clients, and mining software.

Standard bitcoin client
This software connects your computer to the network and allows it to interact with bitcoin clients, forward transactions and track block chains. It takes time to download the entire bitcoin block chain to start. Bitcoin clients effectively convey information between your miners and the bitcoin network.

Bitcoin mining software
Bitcoin mining software is what instructs hardware to do hard work, bypassing transaction blocks to solve. Available varies depending on your operating system. They are available for Windows, Mac OS X, and others.

You might also need mining software for your ASIC miners, although some new models promise to send with everything that has been configured, including bitcoin addresses, so all you have to do is plug it in on the wall.

One smart developer even produced a mining operating system designed to run on the Raspberry Pi, a Linux-sized, low-cost credit card designed to consume very little power. This can be used to power the ASIC miners connected to USB.

Join the pool
Now, you are ready. Good for you. I'm sure you think you will mine more bitcoins than the Federal Reserve prints dollars, right? Unfortunately no. You will have little chance of successfully mining bitcoin unless you work with someone else. You can find out more about that in our forthcoming guide on how to join a mining collection.
Powered by Blogger