programmable bitcoin miner
It mining take many decades to get a reward most likely never and you may damage your system due to the heat. So, all mining calculations aside, are you feeling lucky? I always google the bitcoins lotteries were organized such that they'd google take in more than they'd be liable for like any solo. Thank you for your interest in this question. It will mine directly to your address - and I suggest you create a brand new solo to use that is not associated with any other transaction. One thing mining requires is a steady internet connection. Be aware bitcoins Twitter, etc.
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Welcome to Reddit, the front page of the internet. Once you have a wallet make sure to get your wallet address. You either understand that stuff or you don't, and if you understand it you won't need to ask. Depending on what mining rig you got you will need to find the right software. You are correct, the question was about the odds of the asker succeeding in finding a block.
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I realize solo my hardware setup is far from ideal for mining. I could never figure out the method to google, and the mining I've found so far pretty lacking. Meta Log in WordPress. See here for more details: Submit text NOT about price. I bitcoins thought the state lotteries were organized such that they'd always take in more than they'd be liable for like any casino. I think an analogy with a lottery is apt.
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Google mining bitcoins solo
To answer most of these questions you can use this excellent post from BitcoinTalk. You can also find a complete comparison of mining pools inside the Bitcoin wiki. Once you are signed up with a pool you will get a username and password for that specific pool which we will use later on. Basically, for every miner that you have running, you will need to have a worker ID so the pool can keep track of your contributions.
You will need a mining client to run on your computer to that you will be able to control and monitor your mining rig. Depending on what mining rig you got you will need to find the right software. You can find a list of Bitcoin mining software here. If you want to compare different mining software you can do this here. OK, so hopefully now everything is ready to go. Connect you miner to a power outlet and fire it up.
Make sure to connect it also to your computer usually via USB and open up your mining software. You will actually start collections shares which represent your part of the work in finding the next block.
Perhaps it would be more profitable for you to just buy Bitcoins with the money you plan to spend on Bitcoin mining. Many times just buying the coins will yield a higher ROI return on investment than mining.
What kind of internet connection speed do you need to be successful? We only have about 15Mb fibre here… And does the speed make a difference to the amount you can earn?
That speed will be more than sufficient! Any modern internet connection should be fine for mining purposes. The best option is to buy it directly from the manufacturer, when they have a new batch available. Right now the S9 is not available:. So what is the best way to handle US income tax if you are a miner? Any action taken specifically for the purpose of gaining income outside of employment makes you an independent contractor in the eyes of the IRS.
You can setup an LLC if you want but it is not necessary if you comply with your states regulations for IC work. Trading on Cryptocurrency is the most secured online trading in the world approved by federal governments.. Hello, I still dont understand why a rig that has say 10 — or gpu is not effective enough to mine bitcoin. What is in the antminer that makes it better at mining? Antminers are specifically designed — and made — for mining bitcoin, they run an algorithm that is very different from those that are run on gpu mining rigs, and they [Antminers] are more profitable at gernerating a return on investment ROI … but their downside is that they are a lot noiser to run and consumer a lot more electric.
Well, the chips in an ASIC Application Specific Integrated Circuit — the application being mining miner are designed only for the purpose of mining a specific algorithm…. If you are lucky your computer can solve a whole block of tasks and it gives you lots of bitcoins. It sounds easy, but in fact it is not, and this is the second obstacle you face. When you start mining solo, it turns out to be like a lottery.
Even with GPU, your speed is probably too slow to get some return for your time and electricity bills rise while your computer tries to solve a block and get coins. Moreover, difficulty increases week by week. So, you will perhaps never see a single coin from your solo mining even if you keep your computer running for decades.
PC will be just overheated, time will be wasted, and money will be thrown away for bills. You try so hard to mine but get nothing in return. Is it really so negative? It stays unprofitable nowadays like working solo. Why is solo mining so unprofitable and hard to do?
With the Nicehash pools, you may add notation for multiple miners by using. Or you could use a separate coin address for each miner just as easily. I haven't done this in a long time I think you have a greater chance of winning the Illinois lottery and getting paid. But thanks for helping out the network. This is the best way: Also, are you suggesting that because big mining pools are listening to each other, they can have a stronger influence on which way the blockchain develops?
When you are mining, somebody may already have found a block, but you may not realize it. If you find a block then, it will become an orphan everybody already accepted this other one as the longest chain. Mining pools don't have "stornger influence on the blockchain" but they are doing their best to minimize this orphan rate which you may not be able to do just as well.
Yes there is a very slim chance that you find a block but ignoring the mentioned issue on the long run theoretically you should collect more money than if you take part in pooled mining although as we all know, variance is a bitch. I always thought the state lotteries were organized such that they'd always take in more than they'd be liable for like any casino. I bet they could sue and win by jury, probably the amount they're owed and then some. But then, lol, the state would just have to wait to pay.
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