Jul 12 th , 2018
It’s a currency based on an Internet dog meme.
Obviously it’s the greatest thing everzwijn, so how do you go about mining some of your own Dogecoins?
For those unacquainted with similar currencies like Bitcoin or Litecoin, there can be a dizzying amount of concepts and terminology to take ter.
Here we’ll vertoning you the basics of what you need to embark mining DOGE yourself, hopefully without getting lost ter the vaktaal.
Dogecoin has only bot te existence since December 2013, but it’s already effectively the 3rd most popular so-called cryptocurrency after Bitcoin and Litecoin (te terms of volume of transactions).
While Internet memes typically have a limited lifespan, there are also some technical reasons to believe that Dogecoin can succeed ter the long term.
Not least of thesis is the fact that Dogecoin will keep adding fresh coins each year at a stable rate, unlike Bitcoin where there is a limited supply.
Also, there are many more Dogecoins ter circulation right now. While this means that each coin has a very puny value, it also makes it psychologically much lighter to use, since it’s more satisfying and understandable to buy something for a few hundred Dogecoins, instead of perhaps a fraction of a single Bitcoin (even considering smaller Bitcoin denominations such spil mBTC).
What you’ll need to begin mining
Ideally – cheap violet wand and a bunch of graphics cards.
However, you can commence mining Dogecoins even using a single PC. You can also mine without using a graphics card, albeit the progress will be slower. Mining for coins shouldn’t affect the spectacle of your pc on the default settings, since it will only use computing or graphics power when the system is idle.
Mining for coins on a laptop is usually not worth it, since it’s not powered on 24/7, the CPU/GPU power is lower, and there is a greater chance of stressing out the chips on the laptop since they’re usually packed into a tighter space, and consequently at more risk of overheating. But if you just want to mine a little bit to get a few coins to play around with, it can do the job.
Compare your setup
If you’re just mining Doge for joy, you might want to skip this bit, but you might be nosey about how well your hardware setup is going to work.
Since Dogecoin is based on Litecoin, the values here are a good indication of the relative power of your hardware.
Find your graphics card or CPU proefje te the very first katern, then check the next katern for the kH/s value.
This is a measure of the speed at which you can finish hashes. You’ll most likely want something that can do at least 150 – 200 kH/s to mine a welvoeglijk number of coins, albeit, the quicker cards will consume more electro-therapy, so they may not always be a better option than a slower, more power efficient setup. Wij give some efficient card recommendations further down.
Update – State of the Doge – Spring 2015
Dogecoin is now a little overheen a year old, and a lotsbestemming has happened ter that time, far too much to list here!
But te terms of mining Dogecoin, there have bot some major switches. Some of the most significant have bot:
- The rise of Scrypt ASICs – Dogecoin wasgoed primarily made using the “Scrypt” algorithm which meant that it couldn’t be mined using the specialised hardware ASIC chips that had bot designed to more efficiently mine Bitcoin. However this situation didn’t last very long, and about halfway through 2014, ASICs that could mine Scrypt-based coins began to become widespread. This meant that CPU and GPU miners had to contest against the much more energy efficient ASIC miners.
- Merged-mining support wasgoed added – There were concerns that one or two big groups were predominant the Dogecoin mining toneel, which led to the hypothetical possibility of a 51% attack, where a single group could omkoopbaar the transaction network or blockchain, by virtue of controlling more than half of the processing power (hashrate).
However, this addresses some of the initial criticism of Dogecoin where some people commented on the high inflation rate due to the large extra supply of coins vanaf miner block prize. Te fact, Dogecoin now has a lower inflation rate compared to Bitcoin, pulling down to around 5% by the end of 2015.
What does it mean for mining Doge?
Due to the combined effect of thesis switches, directly mining Dogecoin with a CPU or GPU is now enormously difficult ter terms of getting any sort of reasonable payout.However, all is not lost! – you can still efficiently mine on certain pools with a CPU/GPU setup and get paid te Dogecoin – we’ve updated the mining pool section with details of how to do this.
How to get commenced
Ok, you’re all set to mine Doge, how do you start?
Very first of all, go to the official Dogecoin webpagina, dogecoin.com and download and install your wallet (or you can select the “Browser” option to see some online wallet options).
We’re going to use the Windows Dogecoin Core wallet te this example, however most of the wallets share the same basic features.
Click on ‘Much Receive’ to see your wallet address. You can use this long string of letters spil the address to use when you want to receive money te to your wallet. Don’t worry about making it public – people postbode their private wallet addresses anywhere and everywhere ter order to receive money into them.
The Zipso.netwerken Doge fund, which happens to be DHu4RNjYTdRu1kcgjWrabiWd5Z4yBgsfqd
At this point, you should very likely also go up to the Settings spijskaart and Encrypt Wallet. This gives some protection if your pc is hacked or infected by wallet-seeking malware.
You might notice that when you very first install your Doge wallet, it has to synchronize with the network. What’s happening is that the wallet is catching up on all of the historical Dogecoin transactions, so that it can accurately see if any of the transactions applied to you.
This is typically fairly a slow process and can take a number of hours. However, read on – you can embark mining even before your wallet is fully synced.
Mining pools vs going solo
Mining for Doge and other coins typically involves your rekentuig completing a ‘block’ of a mathematical puzzle, and then getting rewarded te coins for solving it .
The problem is that the difficulty ter solving a single block is usually far too high for a single, solo miner to accomplish.
Ter other words, you could be mining for days, and not solve a block, while someone else solves it te the meantime and you end up with nothing.
For this reason, most people join mining pools, which combines their individual power ter block-solving, and also shares out the prizes according to how much you contributed to solving it, even if you weren’t the one who actually found the ‘right’ reaction for that particular block.
To join a mining pool, you just sign-up on their webstek. The quality of the pools varies, and reliability is a bit of an punt since some pools can go offline for various reasons.
Update – Wij now recommend that beginners use pools that mine coins based on the X11 (Darkcoin/DASH) algorithm, and can automatically payout ter Doge. Two popular mining pools that use this proefje are:
Both of thesis pools are very effortless to use and don’t even require registration. They will permit you to use a miner program that supports the X11 algorithm, then whatever coins are mined (possibly Darkcoin and others) get automatically exchanged for Doge, and paid to your wallet address.
Update 2016 – Unluckily both simplemulti and pandapool have now shut down. You see this reddit discussion for some suggestions, or you could attempt the following multi-coin pools:
You can find a larger list here (almost certainly contains a lotsbestemming of defunct pools however) – sort by highest Hashrate to find the most popular pools, or for more up to date information, check Reddit Dogecoin for updates.
Setting up the coin mining program
Lots of Dogecoin waiting for Shibe. Picture credit: Rijel Violet
Update – Simplemulti/Pandapool mining
Jan ’16 Update: Both Simplemulti and Pandapool have now shut down.
- Select the server, and one of the X11 ports (wij suggest one with the lower difficulty or “Diff” value primarily)
- Select DOGE spil payout currency, and add a wallet address that you have setup ter your wallet (created ter “Much Receive” – Te the Dogecoin Core wallet, you may also need to go to Opstopping and “Much Receiving addresses” to display any addresses you have setup previously – they can be selected and copied from here).
- Worker name and beginning difficulty is not necessary – you can keep it spil “worker1” or switch spil you like.
- All of the config informatie you need is displayed te the “Configure your miner” section.
- Download a miner program. The easiest way is to go to the DASH/Darkcoin mining pagina and download one of the miners from there. Thesis are miners that are assured to support the X11 algorithm we’re using on Simplemulti.
- After downloading and installing a miner, you just need to run it with the right config details – the precies syntax is different depending on the miner, but you will need to use at least the URL, Port, Username and Password shown on the Simplemulti config pagina after you have packed te your details.
…where “walletaddress” is the long string of characters signifying your receiving wallet, and “-t 2” indicates that you want to use Two worker threads (often Two CPU cores).
Note: Because X11 is a different mining algorithm compared to Scrypt, the hashrate range is different, and usually much higher. This doesn’t truly affect profitability either way, it’s just something to be aware of when comparing rates inbetween different mining setups.
For standard mining pools
For other mining pools, you will often need to create a “worker” on their webstek.
You can think of the worker spil just a place ter the pool which receives all the mining work that you’re going to send it.
You’ll need to choose another name and password for the worker – this is separate from whatever you used to signup to the webstek.
Now you can download a miner program – Note: Thesis miners typically use the Dogecoin Scrypt algorithm, so you may not be able to use them for mining on X11 pools.
- AMD/ATI card owners should download CGMiner
- Nvidia card possessor should download cudaMiner
- You can also check out the GUI based, feature-rich MultiMiner which supports a range of mining hardware, albeit may be a little too extensive when kicking off out.
- An all-in-one GUI and miner package has bot released using cudaMiner. You can get CUDA Manager here.
See below for configuration details.
All that’s left to do is figure out how to use the miner program using your mining pool configuration.
To do this, wij will switch the startup parameters for the miner. Very first, go to your mining pool webstek and see if they have a Getting Commenced guide.
You’ll need to find the following:
Settings needed to connect to your pool
- Stratum address and port number to connect to.”Stratum” is a coin mining protocol, but you can just think of it spil a type of internet address you will connect to which provides a channel for sending and receiving the mining work.
- Your worker name
- Your worker password
- Your username for the webpagina
Let’s use the doge.hashfaster.com settings spil an example. Presently, the most basic way to connect to this pool (using the CPU miner) is by using the format:
Note that you need to substitute “Weblogin” with the username for the mining pool webpagina, and “Worker” is the name of the worker you created on the webpagina.
“Worker-password” is the password for the worker, not to be confused with your standard password for the webpagina.
“stratum3.doge.hashfaster.com:3339” is the address for the stratum on hashfaster, so this will switch depending on your pool, and some pools have different stratum addresses to choose from depending on your location, hashrate etc.
The parameters above are the ondergrens you need to commence working with any miner, and should often work OK without specifying anything else.
Ter some cases, you may see the “-o” option written spil “–url” and vice versa. Also, “-u” is the same spil “–user” and “-p” is brief for “–pass”.
CUDA Manager will use the same worker and stratum settings spil above, and just choose any Nickname for the miner.
Here’s an example using the (now defunct) rapidhash.netwerk pool. You’ll need to switch “myusername” to your pool username, and “rapidhash4” to whatever worker name you’ve setup on the pool, and supply the worker’s password.
Select “Interactive” to make your PC more usable while mining.
Note that the “CPU Assist” option ter the GUI is not a separate miner – you can still run the cpuminer app (below) at the same time to mine coins with your CPU.
When you’re done injecting settings, click on “Add Miner to Manager” to add this miner to your list on the left panel.
You can now select it and click “Start Miner” to start mining. Now skip ahead to “(boooo) and (yay. ).
Embark your engines (directive line miners)
So you’ve figured out what settings you need to begin your miner (or maybe not!).
Either way, you can attempt commencing it to see what happens. The easiest way is very likely from the Instruction prompt te Windows or a Console shell te Linux.
Ter Windows, you can copy the command-line ter the previous section into a batch verkeersopstopping, e.g. cudaminer.bat, and then just click on that te future to commence the miner with your pool settings.
If the miner successfully connects to the pool and starts mining coins, you should see some output referring to the current hash rate. You can also visit the mining pool webpagina after a brief while to see if your stats there update.
cpuminer working (leisurely) on hashes
If you’re using a GPU miner, you’ll most likely need to spend a bit of time tweaking it to get the best settings.
There’s a quick guide for cudaMiner here, for CGMiner, attempt here.
For cpuminer on multi-core systems, you can use the -t parameter to specify the number of working threads to embark with, otherwise, the default is to use the max. available.
For cudaminer, if you’re using a fresh version, there’s an autotune built-in which will attempt to detect the best settings for your card, otherwise you use the -l option to specify settings specific to your card.
(booooo) and (yay. )
After a brief while of mining, you should get some (yay. ) text displayed on the output of your miner. This indicates that your share of work wasgoed accepted OK.
If you get some (booooo)’s displayed instead, don’t fright – it may just take a while for miner to adjust to the pool. If you keep getting a high ratio of booo’s to yay’s, it could be worth attempting a different pool, or stratum address.
Value of Dogecoins ter US Dollars
To find the current value of Dogecoins ter USD, go to dogepay.com
You may need to waterput ter a Dogecoin amount such spil 50 DOGE, 100 DOGE etc.
Once you have enough dogecoins accumulated te your mining pool account, you can transfer them to your wallet using a funds withdrawal option on the pool’s webstek. Just supply your wallet address and amount to transfer.
Backup your wallet
It’s significant to backup your wallet te case your rekentuig is lost or your hard disk crashes. Te Windows, from the Begin spijskaart opbergruimte, type ter %appdata% and navigate to the Dogecoin folder.
Now copy and paste the wallet.dat to your backup destination. It’s also recommended to backup your wallet before installing a fresh version of the wallet software from dogecoin.com. You don’t need to do anything else when upgrading exclusief from installing the fresh version from the webpagina.
If you determine to go all-out mining Dogecoins, it’s worth remembering that there’s a good chance that you might actually be losing money when you consider the price of tens unit used vs. the value of Dogecoin.
Unless you have especially cheap power or low hardware costs, it’s challenging to mine coins that will sell at an instantaneous profit. Of course the value of Dogecoins may increase ter the future, but it tends to be a very volatile market te the short-term.
Also, you may want to be aware of warmth and electrical currents if you’re running custom-made or overclocked setups – melted plastic or overheated rooms aren’t joy, albeit most chips now have a thermal cut-off at higher temperatures.
If you want to work out the profitability of mining at current valuation rates, you can use the Litecoin profitability rekenmachine., substituting the LTC/BTC value with DOGE/BTC.
There’s a massive variation te graphics card setups for mining, however a reasonable beginner’s card for around would be something like the AMD Radeon 7770. This gives a hashrate of about 180-200KH/sec. The maximum power consumption for this card, however, is only around 80-90 watts, making it fairly efficient.
If you can spend a little more, the R9 270X is a good option and should give you a hashrate of about 450KH/sec. Power consumption can be inbetween 160-180W.
One of the fastest (generally available) cards at the uur is the R9 290, however you’ll need to pay for the privilege of getting your 850-900KH/sec. They will pull down about 320-330W when mining, so you’ll need a hefty PSU also.
While Radeon cards have typically bot the favourite of miners worldwide, Nvidia has caught up to the spel with it’s fresh GeForce GTX 750Ti.
This is the very first card based on it’s fresh Maxwell architecture.
For a little overheen this is an ultra energy-efficient card, which will give you inbetween 260-300KH/sec while only using 60W of power. Thesis fresh cards are certain to be popular with the Dogecoin and Litecoin mining communities.
The GeForce GT720 is a fresh entry level Maxwell architecture card that runs at an astonishingly thrifty 19W, and is available for less than.
Got any other cards you like the look of? Let us know ter the comments below.
To ASIC or not to ASIC
An ASIC is a dedicated chunk of pc hardware designed to do one specific task – ter this case, mine coins.
Gridseed USB ASIC miner
ASICs come ter different shapes and sizes, but petite USB based units (such spil the Gridseed 5-chip) are popular. However, there are serious risks involved with investing te ASICs.
We’re not going to voorkoop this is an exhaustive list, however here are some pros and cons of mining with ASIC hardware.
Note that we’re comparing (a) mining Dogecoin (or another Scrypt coin) directly using a Scrypt ASIC miner with (b) using a graphics card to mine using X11 or other CPU/GPU algorithm (ala Simplemulti).
- Typically much more energy efficient ter terms of hashrate vanaf Watt of energy consumed.
- Can be a smaller form factor compared to graphics cards.
- Petite or older units may be relatively cheap compared to graphics cards.
- May be worthwhile if you have especially low tens unit prices
- Geek credentials, educational &, a talking point
- Manufacturers have a thick incentive to mine using their own hardware very first, reducing profitability of ASIC hardware once it gets shipped to the customer.
- ASIC marketplace attracts a loterijlot of vapourware and companies that never produce hardware. If you’re going to buy one, don’t preorder te anticipation of a future shipping date.
- Depreciation runs at a high rate – there’s always something better around the corner. While this is true of all computing hardware, with graphics cards there is a phat secondary market where it’s much lighter to sell an unwanted card.
- You can’t play games on them if you get bored of mining.
Got your mining equipment running sweet? Time to ease off with a refreshing cup of Doge. Pic: Shibe Doge
So what’s the point of wasting all that electric current for something futile?
It’s true that Dogecoin mining (and all other crypto-currencies, bijzonder from Primecoin) expends a large amount of energy ter effectively futile calculations. They’re not solving anything interesting – they’re difficult simply for the purpose of being difficult, and this process of scarcity is the fundamental voet of all thesis digital currencies.
However, perhaps Dogecoin and Bitcoin are the forerunners of some sort of more advanced, useful computational currency that has yet to be fully developed.
But even without that being the case, it could be argued that there is actually an inherent value te using all of this energy, simply to make the currency workable – after all, a big amount of energy is also expended te transferring, protecting, processing and storing conventional forms of currency, simply for the purposes of keeping those systems running slickly. And even carrying around contant ter your wallet has an energy cost too.
Crypto-currencies have other management costs, but also have some advantages – you don’t need a massive gegevens center to store your coins after you receive or mine them, and the peer-to-peer setup of the block-chain transaction system piggybacks on computing and network resources that are already te place (including other miners).
Still, the futile computations do seem rather wasteful, and it would be better if there wasgoed a way to create ‘agreed scarcity’ while also doing useful work at the same time.
Whew OK, but is it truly worth it? Isn’t Dogecoin just an even sillier version of Bitcoin?
The Dogerush – To Infinity and beyond? – Picture source: kotmon
Mining for Dogecoins not for you?
You can always go after the unfolding story of DOGE at reddit.com/r/dogecoin
What is fascinating about Dogecoin at the uur is that it feels like perhaps the commence of Bitcoin felt like, except with more joy and less politics. There’s a lotsbestemming of sharing, and tipping of dogecoins, especially on Reddit. This seems to have helped it grow so rapidly overheen the latest past.
If Dogecoin and the developer community can make it lighter to use DOGE overheen larger parts of the netwerk, it could become a popular alternative currency for micro-transactions (including people who don’t have access to bankgebouw cards), or even ter more real-world locations using smartphones and other devices.