Guide to the Best Bitcoin Mining Hardware and Software (2020)
(PDF) On the Complexity and Behaviour of Cryptocurrencies ...
Cgminer Solo Mining Bitcoin Core CryptoCoins Info Club
New people please read this. [upvote for visibility please]
I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can. Preface Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here. If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier. Mining. What is it? Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section. Mining Hardware While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much. Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it. So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy. Should I mine? Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats PCPartPicker part list / Price breakdown by merchant / Benchmarks
Prices include shipping, taxes, and discounts when available.
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s Hardware Fundamentals CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with. RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory. HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats) GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like. PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption. MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less. PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied. When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info. Mining Software Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head) Mining Pools Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself. How do I connect to a pool? Most pools will give you a tutorial on how to but the basics are as follows:
Signup for a pool
Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine: Hardware cost: The cost of your physical hardware to run this whole operation. Power: Measured in $/KwH is also known as the operating cost. Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon. Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously. Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones. coinwarz I like this one cause it is simple. The fields are self explanatory. Try it. bitcoinwisdom I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account. Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it! More Below.
So it has become apparent to me from the constant questions on this subreddit that a lot of new miners/shibes need help, so I have decided to make a basic guide to most of the questions I see a lot here. 1) BTC - This means Bitcoin so If you see a miner that says BTC it does not work with dogecoin because dogecoin is Scrypt. 2) Scrypt - This is what dogecoin runs off of, or what your computeasic/gpu solves to support the network. 3) Asic - This stands for an application-specific integrated circuit, or in less confusing terms a miner dedicated completely to mining a particular type of coin such as dogecoin. 4) GPU Mining - Using a graphics card to mine crypto currencies. 5) CPU Mining - A slow and inefficient way of using your computers Central Processing Unit to mine crypto currencies. 6) Hash Rate - The rate at which you mine a crypto currency. The higher the better. 7) KH - This Means Kilo Hashes. 1KH = 1,000 Hashes a Second 8) MH - This Means Mega Hash - 1 MH = 1,000,000 hashes a second. 9) Should I buy an asic? - If you want to support the network yes. If you want to solely make money off of it No. Buy the coin if you want to make profit. This is my opinion, there is no one answer to this question. 10) Mining Pool - Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out smoothly over time. Tl/DR You Work with other miners to solve stuff faster making you money faster. 11) Mining Difficulty - How hard it is to solve the problems to generate dogecoin. 12) Do I need a fan? - Yes I cannot stress how important it is to properly cool your units. Make sure your units are always cool or else they might melt. Do not think you are safe just because you turn your ac up, but a fan. 13) What Mining Pool Should I Pick? - Here is a list of all of the pools Pick one that works for you. 14) What is a wallet? - This is where you store your dogecoin and where you can send and receive dogecoin. 15) What Wallet Should I get? - Online is convenient but not safe. Paper Is the Safest But Not convenient. Cold Storage is the mostly safe and somewhat convenient. 16) What is cold storage? - Basically putting your wallet on an offline device like a usb. 17) Can I mine on a mac? - Yes look here for more info. 18) Cloud Mining - A service you buy that mines for you. you pay for a certain amount of hashes, lets just say 10gh for an example, and the company/service mines you this amount for the time you bought. It is not profitable usually. 19) What Is a Raspberry Pi? - A small cheap computer that people use to run their miners on. 20) Watts - The measure of electricity. 21) Should I pre-order? No Never F%&$ing pre order, you will get scammed 99.9999% of the time. 22) Can I still mine? - Yes, you probably wont make money but you will support the doge community. 23) Linux - An operating system like windows that people use to run mining programs on. 24) If you Have an animal make sure to properly protect your mining rig from them. Wires from the machines make great chew toys. 25) How Do I calculate if im going to make money with my mining rig? - Use This mining CalculatorThis is also a very good calculator 26 What Mining Program Should I use? Windows: CG MINER Mac: Astroid Linux: CG Miner again Goodluck mining I hope this helps. This Also Took A long time to make so support would be appreciated :)
ISSUE CGMiner GPU settings are not intuitive to properly allow a user to get the best hash out of their particular card. Each individual GPU has a 'best setting' that often does not perfectly translate to another card of the same model. There is a huge demand for assistance in determining the best settings for each card. DISCUSSION I think there's enough evidence to suggest that simply maxing out a GPU's overclock settings is not necessarily the best way to get the highest performance. Graham Forest discovered this a few years ago and built a very good histogram of the results. He wrote a simple program to test a huge range of possibilities and find the area of best results. His program cgminer2rrd includes much of the capability required The cgminer 3.7.2 SCRYPT-README notes this. Spinx on the bitcoin forum also makes a note of this ratio. In my own case, I found several ratios between gpu-engine and gpu-memclock that resulted in best performance. Here's a data table I made. Altering this ratio by even a small amount drastically affected hash rate. I found the same thing with intensity. -I 14 resulted in significantly lower performance than -I 13. RECOMMENDATION I propose a software solution that will test a range of value combinations and create a visual representation of the results. Record/Display test values
Record the hash rate, --gpu-engine, --gpu-memclock, temperature, A, R, and HW values.
Generate tables and graphs of the results for the user
Display 2 to 5 "best option" results as a range and median
Output to display or write a text/csv file
Test a range of GPU/Memory value ratios
Start at 1:1 and increment the ratio by .065 each step.
Allow the user to specify an increment
Start at the default --gpu-engine and increment each step by 5
Allow the user to specify a --gpu-engine increment value
Test a range of settings independently on each of multiple GPUs
Calculate the time required to perform the test
Test a range of Intensity settings
Start at -I 8 and increment by 1 up to 20
Calculate the time required to perform the test and display it to the user
Run each combination for 30 seconds and record the results in first pass mode
Run several user selected values, or the "best option" values for a longer duration.
NOTES I'm just a guy who noticed a problem and found a good starting place for a solution. I'm not a programmer, but am experienced in working with developers to create software solutions. TL;DR Make a program that will auto test a range of cgminer configurations.
We show that the behaviour of Bitcoin has interesting similarities to stock and precious metal markets, such as gold and silver. We report that whilst Litecoin, the second largest cryptocurrency ... The CoinDesk Bitcoin Calculator tool allows you to convert any amount to and from bitcoin (up to six decimal places) and your preferred world currencies, with conversion rates Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the ... Bitcoin miner. This software is compatible with Windows 10 and Windows 8.1. It comes with a user-friendly interface with features like power saving mode, quick share submission, and mining pool support. One of its best feature is its reports feature since this helps you to understand if mining is profitable for you or not. Bitcoin Miner is available in the latest version – 188.8.131.52. Get it ... Bitcoin for Beginners is a subreddit for new users to ask Bitcoin related questions. **Do not respond to strangers direct messaging you, as over 99% of these people are Scammers.** This subreddit allows open discussion where peer review occurs. /BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, concern trolling, blog articles, or promoting altcoins and ... Profit Calculator を使って ... 以下は bitcoin-qt の設定ファイルの例です。次のコマンドを使ってファイルのモードを 600 に設定してください: # chmod 600 ~/.bitcoin/bitcoin.conf ~/.bitcoin/bitcoin.conf # bitcoin.conf configuration file. Lines beginning with # are comments. # Network-related settings: # Run on the test network instead of the real bitcoin ...
As Bitcoin's price broke through resistance at $12,000 , its on-chain transfer volume exceeded 4 million and set a 14-month record high. Unlike exchange volu... CLICK HERE FOR MORE INFO: https://rebrand.ly/forex33 And start earning in the Forex Market Now! In our growing international company atmosphere, there are fi... CLICK HERE FOR MORE INFO: https://rebrand.ly/forex33 And start earning in the Forex Market Now! In our growing multinational business environment, there are ... A combination of supportive fundamental and technical catalysts are pointing towards an extended Bitcoin bull run. The BTC/USD exchange rate kicked off the n... How Mining Crypto can pay you daily