Think of it like a car. Depending on the model, a car can only generate a certain amount of speed. In most cases, the more expensive the car is, the more powerful it is! This is important because when miners attempt to solve the puzzle, they try billions of different combinations until they are correct. The more hashing power a hardware device has, the more combinations it can try each second!
- Bitcoin Cash Mining - Things to Know Before Starting.
- 200 zar to btc.
- How To Solo Mine Bitcoin Cash.
At present, the only hardware devices that are going to give you a chance to mine Bitcoin Cash is something called an ASIC Application-specific integrated circuit. There are lots of different variations, with some being better than others. There is no point in considering anything other than an ASIC, as you will have absolutely no chance of ever winning the mining reward! This device requires a power supply of between V. Every country has its standards, so you will need to check this first.
For example, in the U. S, the standard is V, meaning that you would either need to hire an electrician or buy a converter! As a result, the DragonMint might not be suitable for the average miner who is looking to make a bit of money on the side. It is a device made for much more serious miners and organizations. If you do want to buy the DragonMint 16T though, or would like more information, clic k here to visit the official website.
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The device is manufactured by a company called Bitmain, which is based in China. Some people think that Bitmain has too much control in the cryptocurrency industry. This is because not only do they sell the most mining hardware devices, but they are also one of the largest mining pools in the Bitcoin and Bitcoin Cash industry. The device is an upgrade from the S7, which was limited to a maximum hashing rate of just 4. The S9 is also much quieter than the S7, which sounded like a factory production machine! At the time of writing, the Antminer S9 is slightly more expensive than the DragonMint, even though it is less powerful.
If you want to buy the Antminer S9 or would like more information, click here to go to the official web page! The nearest device in terms of power is the Antminer R4, which has a maximum hashing power of 8. However, if you are planning to join a Bitcoin Cash mining pool, then you can purchase a much less powerful device. This is because your share of the mining reward is based on the amount of hashing power that you contribute! So, if this sounds more suitable for you, check out my suggestion below! It is also manufactured by Bitmain and can produce a maximum hashing rate of 4.
Although this is much slower than the S9, it will allow you to earn Bitcoin Cash when you join a Bitcoin Cash mining pool. It is a highly reliable and proven piece of hardware that used to be the most popular in the industry. Before buying the Antminer S7, there are two things you should consider. You will not be able to compete with more powerful models. Secondly, the S7 is noisy, so if you plan on running it during the evening, be prepared for complaints from your neighbors.
If you want to purchase the Antminer S7, click here to buy it from the official Amazon store. So, now that you know all about the hardware requirements, the next part of my Bitcoin Cash mining guide is going to look at what software you need. Just like your desktop computer or laptop device, the software is just as important as hardware. Once you have purchased your ASIC device, you will need to download some software to accompany it.
However, in most cases, the required software will be included with the product. It is not recommended to use software other than the one included with your product. There are various third-party mining programs available to download, but these are only suitable for GPU or CPU mining.
If you have read my guide up to this point, you will know that neither of these devices is suitable for Bitcoin Cash mining, as you will need to use an ASIC. When you install your software program, there are various things that you can configure. Firstly, you will need to enter your Bitcoin Cash wallet address.
This is important as this is the address that your mining rewards will be sent to. You will also need to tell the software how much power you want the hardware to generate. It is highly recommended that you read the manual included within your hardware device before amending any settings!
Finally, you will also need to tell the software the number of hours you want it to mine. If you are purchasing a quiet device like the Antminer S9, then it makes sense to run it 24 hours a day, as you will want to maximize your profits. However, if you are using a noisy device like the Antminer S7, then depending on where your hardware is situated its best to only use it during the day. So, now that you know about the requirements to download software, the final part of the guide is going to discuss Bitcoin Cash mining pools.
If one side of the rope has 5 people, and the other side had 10,, then no matter how powerful the people were, the side with 10, would always win! This is why Bitcoin Cash mining pools are so great because they give everyone a chance to win a piece of the pie! However, it is important to remember that mining pools hold a lot of control.
Bitcoin Cash (BCH) SHA | Mining Pools
Although you are sharing your hashing power, the pool has full control over their terms and conditions. This means that they can change the membership fee or reduce the number of rewards that are shared. There are a lot of mining pool scams out there which will never pay you any rewards, so always conduct enough research before joining one, or choose a well-known mining pool like the one I have listed below. Antpool, just like the Antpool hardware device, is owned by Bitmain.
When you connect your device to the Antpool mining pool, you can start mining straight away without having to pay any fees. On the other hand, the company keeps all of the transaction fees that are won as part of the mining reward. The block reward of To find out more information about joining Antpool, cli ck here. Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.
Wondering what is SegWit and how does it work?
Active Oldest Votes. PS: Math. Improve this answer. Luca Matteis Luca Matteis 4, 14 14 silver badges 21 21 bronze badges. Where 69 years is the expected time , it could be much quicker with luck, but likely much longer because the difficulty its constantly increasing meanwhile. Thank you. One more thing, is theory and practice the same thing in this case? Isac: In theory, theory and practice are the same.
As dam close as. Don't use your CPU, use the electric bill your running up to go buy lottery tickets instead, better odds. CPU is as you say, very useless. Show 2 more comments. Tim S. Lottery ROI is consant. Bitcoin difficulty is not. TimS, but surely there's a minimum amount of computational power you need before you can even "take part in the bitcoin mining lottery" right?
Pacerier There is a minimum. I'd estimate 10 minutes per hash as the minimum to participate: you could do approx. There is a chance that hash is the right one! You've played the lottery. May 22 '14 at Pacerier note that there is no hard minimum. However, I'm pointing out that when you get into the range of minutes per hash or slower , there is an extra limiting factor: blocks have likely been found in the meantime. Btw, that extra limiting factor is actually closer to 3 minutes right? Since we had to factor in the delay of actually getting notified when someone else has won lottery.
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You are correct, the question was about the odds of the asker succeeding in finding a block. However, you can either express the odds as chance per block or as expected time until the outcome will be achieved, Luca has chosen the latter. The 1GH is also highly over-estimating his CPU's mining power, a more realistic value would be less than 0. So, the odds are more along the line of per year, traded for the energy cost of running the PC at full-blast for a year.
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It's better than being in the lottery! So, all chance calculations aside, are you feeling lucky? Lodewijk Lodewijk 1, 10 10 silver badges 15 15 bronze badges. Better than which lottery? Assuming that your mining hardware is equal to others' you'll be better off than any lottery. Provided the lottery works as expected collect money and give it to a single participant - fees. But with worse hardware it all just depends. How to solo mine bitcoin cash. When our zec solo mining pool just launched, it needed some testing. Bitcoin core requires about gb of disk space and takes some time for a sync;.