Looking to mine the newest cryptocurrencies out there? How about mining Bitcoin Gold! While Bitcoin mining got to a entire fresh level, Bitcoin Gold is designed especially for GPU mining. This means, you only need a desktop laptop and a Graphics card to commence earning money today. Already a Zcash miner or fresh to mining, this is a accomplish guide for you to get began from buying the necessary hardware to setting up the software and calculating your profits.
Ter our previous article: Bitcoin Gold Hard Fork – A Detailed Explanation wij talked about Bitcoin Gold and how the team came up with the idea. Now, the work is done, and the mainnet will soon be available.
Miners, to ‘prove’ that the BTG transaction wasgoed legitimate, used computers with numerous high-end graphics cards to run the Equihash mining algorithm ter order to search for a number. If the number wasgoed juist, the block is verified and the miners commence working on the next block. Equihash is a popular algorithm that is presently used by the popular privacy coin ZCash.
Top Three courses for crypto traders
Wij’ve curated a list of the best crypto trading courses from our Top 100 list. Thesis courses range from basic lessons about how crypto works to advanced technical and fundamental analyses that dive deep into the more ingewikkeld topics of cryptocurrency.
This course will help you learn everything you need to succeed te trading Crypto-Currencies and provide you with the best possible begin to trading te this developing market
This course pack starts by discussing the origins and importance of the crypto currency markets and reviews basic concepts every trader needs to know. Next, the this course moves on to discuss human psychology and how individual and group interaction is played out te the Crypto markets, and more importantly, how to use this to your advantage. Wij then stir on to review key indicators used to trade Cryptos and introduce several methods for trade analysis. All of this skill is then incorporated te a section guiding you through the finish execution process: how and why wij make trades. Lastly, the course reviews several key implements, websites and research applications that will guide you through your career spil a successful trader.
Wij thank you for taking the time to read this, and wij hope you find this course to be a valuable educational practice.
Course Lecturers: Jason, Dan &, James ,stock market and trading professionals
Advanced course on cryptocurrency trading! This course requires no previous skill and is introduced te a way that everyone should be able to understand. That being said wij very recommend taking our free Cryptocurrency Trading Explained course if you are brand fresh to the space.
While our introductory course wasgoed a basic overview that familiarized you to instruments and resources ter a broad sense, this course is much more concrete with walkthroughs, private examples, and analysis. A real emphasis is waterput on tangible practices based on overheen a decade of combined practice.
This advanced crypto trading course will voorkant:
- Money Management
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Course Lecturers: Jonathan Allen: Co-Head of Consulting at Blockchain at Berkeley
This course provides you with a solid, overall, understanding of blockchain technology and how it relates to the finance industry. Together wij voorkant the most essential areas and use-cases regarding blockchain technology, how it’s disrupting the finance industry and how it can also generate fresh opportunities. You will be ready to understand the switches that are, and will be occuring te various industries due to the revolutionising aspects of this technology.
What am I going to get from this course?
Understanding the challenges and possiblities, and getting a foundational understanding that will help you to make investments and anatomiseren news.
Navigate the blockchain space with a new-found understanding and terminology.
Prerequisites and Target Audience
What will students need to know or do before beginning this course?
Who should take this course? Who should not?
This course is entry level, and also contains basic finance terminology.
Course Lecturers: Peter Gelardi Mikkelsen is a thought leader and speaker for blockchain and bitcoin technologies
ZCash or Bitcoin Gold
For Miners, mining either coin will be the same since they both use the same algorithm, meaning that they will also use the same software. However one notable difference inbetween each coin will be profitability. This will be the determining factor for most miners, spil most miners will want to make the most money out of mining to pay their hardware and power expenses. Tho’ some miners may want to support the coin they think has the brightest future regardless of price. Depending on whether you want larger profits or if you want to support your beloved coin, thesis may be a determining factor for which coin you end up mining. If you want to check which coin is the most profitable at any given time, you can use the WhatToMine.com rekenmachine (More about mining profit: here), simply select which graphics cards you are using, and the rekenmachine will figure out which coin is the most profitable.
Pool Mining and Solo Mining
When mining, you can determine whether to mine by yourself (solo) or with other (pool mining). The difference here is that with solo mining you have to do all the work by yourself, unlike pool mining where you work alongside others to mine the block. This means that solo miners require numerous, powerful computers with many high-end movie cards.
However, pool mining is far simpler because you will be “pooled” together with other miners, and the combined hashrate of the pool will go towards solving the block. Because the pool is using the combined hashrate of all the miners, instead of being paid the entire block prize like you would when solo mining, each miner will be paid accordingly towards their own contribution. For example if you are contributing towards 10% of the pool’s total hashrate when a block is mined, you will be paid 10% of the total block prize.
What You Will Need
To embark mining you will need:
- A laptop which you will use to mine
- A wallet for your coins to be sent and stored
- Mining software so that your laptop can connect to the network and commence solving blocks.
- An account on an exchange te order to trade your mined coins for different ones or into fiat.
I will elaborate on the required hardware, software, and recommended wallets ter zometeen sections, but for now I will list some exchanges which support the upcoming Bitcoin Gold.
You can view the other exchanges on Bitcoin Gold webstek.
For Bitcoin Gold the mining will primarily be done on graphics cards, but you will still need auxiliary components such spil the:
- Processor – a prompt processor is not required and a standard Intel Celeron is a popular choice among miners.
- Motherboard – there are many “mining” motherboards that have numerous PCI slots for your graphics cards, however any standard motherboard with a few PCI slots will be fine.
- RAM – a 4GB stick of memory will suffice for mining.
- Storage – te order to store your operating system and mining software you should either have a puny SSD for swifter boot times or a cheaper, albeit slower HDD will be fine. It is fine to run your operating system off of an outer hard drive, but this will lead to slow boot times.
- Power supply – to power the components you will need a power supply, and depending on how many graphics cards you are using you may have to use one with a maximum power of at least 800W or even numerous power supplies.
- Case – because the standard ATX cases cannot support more than Three or Four graphics cards, many miners determine to build their own cases, some even out of shoe racks. There are also websites to buy mining cases, however you will pay fairly a large premium. Here is a listig to one of those websites: Cryptomined. If you determine to get a custom-made case you will need to get PCI-E riser cables. Thesis are nifty little extension cables that permit you to take your movie cards off the motherboard and on to a more elevated position. This lets you waterput numerous graphics cards on the same motherboard. Another thing you will need is a power button, spil you will not be able to power the system.
Here is an example list of suggested parts when building a Bitcoin Gold mining PC: PcPartPicker . You can also implement used parts, spil thesis will be cheaper and you will be able to pay off your build sooner, albeit used parts may not come with a warranty, so if a part violates due to a malfunction you will have to substitute it out of your own pocket.
Top Five Graphics Cards For Bitcoin Gold
If you want the highest profits to come out of Bitcoin Gold mining, you will need to choose the best graphics cards.
The 1050 Ti is a popular graphics card due to it’s low power constraints and affordable price. For the price of $160 and a power draw of 50 watts, it is an utterly efficient mining card clocking 160 Hashes vanaf 2nd (H/s). Some 1050 Ti’s do not require an outward power connector, so if you want to mine Bitcoin Gold but don’t want to build a dedicated mining equipment, you can lightly waterput the graphics card into any desktop PC that has a PCI-E 16x slot.
The GTX 970 wasgoed a very popular graphics card when it wasgoed very first released, and because it wasgoed from the previous generation of graphics cards it is enormously effortless to find thesis used. With a hashrate of 280 H/s, the 970 is an excellent mining card, especially if you can find it at a cheap price.
The GTX 1060 has very similar spectacle to the 970, but has a few added benefits. The 1060 mines Bitcoin Gold at 310 H/s, and while only marginally better than the 970, the 1060 has a much lower power draw. Additionally, because it is a newer card you will be eligible for a warranty, just te case of a component malfunction. However, this card does fetch a higher price.
The GTX 1070 is a superb graphics card for Bitcoin Gold, with a hashrate of 440 and with a power draw of 165 watts, the 1070 is a excellent choice for Bitcoin Gold. Because the 1070 is an utterly popular graphics card among miners and gamers alike, this card will be utterly effortless to sell off should you determine to zekering mining. The one drawback of the 1070 is it’s high price tag. With a price of overheen $400 not all miners will be able to afford it, making some of the other cards more reasonable choices.
The GTX 1080 Ti is lightly the best graphics card for Bitcoin Gold. With an incredible 700 H/s, a miner with numerous 1080 Ti’s will lightly netwerk an enormously high profit margin. However with so much power there are some drawbacks. The 1080 Ti costs overheen $700 making this a graphics card that is only bought by xxx enthusiasts.
To make sure that all your selected components will work together, you can use the PC Part Picker webstek to make sure that the auxiliary components will work together. However, PCPP does not permit you to add numerous graphics cards, and this can be problematic because you might not know how large of a power supply you will need. You can calculate this by yourself by going to the graphics card’s manufacturer’s webstek, and finding the power draw. Multiply this number by the amount of graphics cards you will use, and add this number to the power draw of the auxiliary components (given by PCPP). When you know how much power your system will use, you can choose a power supply accordingly, however you should have 10-20% reserve power draw just for general safety and efficiency. After choosing a power supply, check the connectors that come with it. This too can be found on the manufacturer’s webstek. If you can’t find any power supplies with enough connectors it is possible to use two power supplies. One popular configuration is using two 750 Watt power supplies, spil you will have many reserve PCI power cables for the graphics cards, spil well spil slew of molex cables for the risers.
However it is recommended to run numerous powerful movie cards for mining Bitcoin Gold, you are not required to run any. It is technically possible to mine BTG on your processor, however compared to a dedicated graphics card, a processor is very slow and will not nipt even mediocre mining prizes. You most likely won’t even pay back the power costs of mining, making processor mining very inefficient and very unpractical.
To mine Bitcoin Gold you will need the right software to do it. This software will connect your pc to the network or pool, and start hashing. Here is a list of Bitcoin Gold compatible miners:
- EWBF Miner, compatible with NVidia graphics cards on Windows and Linux
- Claymore’s AMD Miner, compatible with AMD cards on Windows
- Optiminer, compatible with AMD cards on Linux
Ter this section I will vertoning you how to install the EWBF miner on Windows. Keep te mind that installing other mining software will go after a very similar installation process.
Go to the download pagina that you can find here: Bitcointalk. Find the download listig and download the latest version of the mining software. Sometimes when downloading the software your antivirus will tell you that the verkeersopstopping is infected, this is often a false flag, and can be avoided by downloading the verkeersopstopping spil a .zip.
Unzip the folder and store it te an accessible location.
Create a fresh elementary text document inwards the folder and add this:
When Bitcoin Gold releases and it becomes possible to mine, substitute <,server>, with the pool you would like to mine on. Substitute <,address>, with your wallet address and <,worker>, with whatever you want. If you use numerous miners you can use this to label each miner and monitor them on the pool webstek. For <,Port>, you will substitute it with the pools port. I will introduce the different wallets and pools you can use ter the next sections. Your final verkeersopstopping will look something like this:
Save the fresh verkeersopstopping spil .bat opstopping.
Dual click the .bat opstopping then your laptop will connect to the network and begin mining.
The Linux installation for the EWBF miner is a bit more complicated, but Linux can often provide more stability and sometimes even greater spectacle spil opposed to the Windows variant. The following steps are done on the Ubuntu distribution of Linux
Open Terminal. This can be done by pressing ctrl + altstem + T, then inject this directive
You will then be prompted to come in your password. Text should begin appearing inwards of the Terminal window. You will soon be prompted to press [Inject] to proceed. Press come in and wait for the directive to finish processing.
Next, you will have to install the latest NVidia drivers for your system from the repository wij just added. Inject this instruction into the Terminal window:
Many lines of code will begin appearing on the screen. Thesis are all the different updates that are being downloaded. This step may take some time.
One that step is finished, you will have to add another toolkit for the NVidia drivers ter the Terminal window and inject:
This step will also take fairly a while, but once it has finished you can budge on to next step.
Tho’ this is not 100% necessary, it is recommended to install this lump of software spil you will be able to monitor and control your graphics cards. You can install it with this instruction:
Once it has finished downloading, you will have to enable your graphics cards to be monitored, and that is done through the following instruction:
Once you have finished all the steps above you will have to reboot your system, simply type reboot inwards of the Terminal window. After your laptop has booted back up, you can open the freshly installed software by going to the launcher at the top left, and searching for “nvidia.” The software to open is called “NVIDIA X Server Settings,” and you can use this software for monitoring graphics cards, switching fan speeds, and overclocking processors te order to get toegevoegd spectacle.
Now that you have finished installing the necessary drivers for your graphics cards, it’s time to install the mining software. Simply go to this listig and install the latest version of the EWBF miner. Samenvatting the folder to an accessible location and open it. Inwards the folder, right click and select “open te Terminal.” Inwards the fresh Terminal window, you will have to create a verkeersopstopping called “start.sh”. This is a script which acts similarly to a windows .bat opstopping. Type:
And a wit window will now show up. Inwards the window you will have to input:
Just like with the Windows installation, you will have to substitute the necessary areas with the pool you want to mine on, your wallet address, and the server’s port. Once you have finished packing te the blanks, press ctrl+O then inject , and eventually ctrl+x to close the window. There will now be a fresh verkeersopstopping inwards the folder.
The final step before your rekentuig can embark mining is for you to embark both the miner and the embark.sh files. To do this, open a Terminal window (inwards of the folder) and type:
After inputting this guideline, eventually type:
And if you have followed all of the steps correctly, your rekentuig will start mining Bitcoin Gold.
At the uur, there are only three wallets that are planned to support Bitcoin Gold, and thesis wallets are:
- Coinomi – an Android special multi-wallet.
- Guarda Wallet – another multi-wallet which is available on both Android and iOS.
- Free Wallet – another multi-wallet which is available on both Android and iOS.
To mine Bitcoin Gold you will need a wallet to store all of those mined coins. Mobile wallets are the most accessible since you can view your balance no matter where you are spil long spil you have your phone on you. Here I will be displaying you how to install the Coinomi Wallet for Android.
Locate the app te the Google Play store and download it.
Open the app once it has finished downloading. The app will then ask you to either restore or create a fresh wallet. If you create a fresh wallet you will be asked to write down a seed, this seed is ter case you accidentally uninstall the app or lose your phone. The seed will help you restore your wallet so you can access all of your stored coins. If you want to invoer a wallet, you will be asked to invoer the seed.
Once you have created a wallet you will be asked to select a wallet to add. Scroll down until you locate Bitcoin Gold.
Once you have added the wallet, swipe to the “receive” tabulator and you will find your BTG address. You can use this address to receive BTG. Inwards of your .bat or .sh verkeersopstopping substitute <,wallet>, with this string of numbers, albeit reminisce to liquidate the spaces inbetween the numbers. For example, switch GUTb Tizu VXca Ueb4r YmCT mfjN PtJY p2NrA to GUTbTizuVXcaUeb4rYmCTmfjNPtJYp2NrA . If you leave the spaces ter the address you will not receive any of your mined BTG.
If you only have one miner, it would be a wise decision to choose pool mining overheen solo mining so that your payouts will become more consistent. Also, if you have a feeble miner, solo mining may not work at all for you. Here is a list of pools which will support Bitcoin Gold:
The surplus of the pools that will support BTG can be seen on the Bitcoin Gold webstek
Joining a pool is elementary. Most pools will have a “Getting Started” tutorial pagina where it will give you examples of .bat opstopping configurations. Thesis example configurations will contain the server listig and the port to mine to. Below is an example configuration found on pool.mining.sg:
Ter the photo you can see what to substitute <,server>, and <,port>, with ter your .bat or .sh verkeersopstopping. Once you have added thesis switches to your .bat/.sh opstopping, alongside with your wallet, dual click that opstopping and you will start mining to your wallet on the pool. You can view the Bitcoin Gold shares your miner has collected through the pools webstek. Simply go to “view miner stats” or “search for address,” depending on your pool. Input the Bitcoin Gold address you are mining to, and the pool will remotely display you your current hashrate and pending balance, however you can also view your current hashrate locally just by looking at the miners CMD or Terminal window.
Solo mining is much more requesting than pool mining if you want consistent payouts because you will have to contest against every other pool and solo miner on the Bitcoin Gold network. There is also the very real possibility that you will never mine a block, especially if you are running a very feeble system. Solo mining usually requires a very large investment, and numerous systems, with numerous graphics cards ter each one.
Setting up a knot
The easiest way to support Bitcoin Gold is by setting up and running your own Bitcoin Gold knot. At the uur this can only be done through Linux.
If you don’t have a Linux machine you can use the digital service Digital Ocean cloud . This service will permit you to setup a Linux machine on a cloud server. If you determine to use Digital Ocean you will have pay a petite $Five toverfee for every month you want to proceed using the service. To use Digital Ocean you will have to create a droplet. After creating it you will receive access details te an email. Te order to access your “droplet” you will have to download Putty and login via SSH. Once you have logged te you can begin using the Linux droplet, and commence building your Bitcoin Gold knot
Very first, you will have to open your sources.list opstopping. To find this open a Terminal window and type:
You will then need to paste this into the verkeersopstopping:
Save the opstopping and reboot your system.
Once your system has embarked back up again, open a Terminal window and inject thesis guidelines:
Note: Switch /root/BTCGPU to the absolute path to your BTCGPU folder. If you have saved it elsewhere this step will not work.
Create config verkeersopstopping to commence a knot and connect to mainnet:
Add this config to conf:
Connect to testnet and test your miner
After you have finished thesis steps you will now be successfully running a Bitcoin Gold knot.
Note: -j Four = -j <,Number of CPU Threads you want to use>,
Make sure that for each sub-step you input the instruction on an individual line.
Beginning To Mine
Now that everything’s ready, and you’ve set up your mining laptop and it’s software, simply begin the .bat verkeersopstopping if you are using windows, or the .sh verkeersopstopping if you are on Linux, and congratulations! You are now mining Bitcoin Gold! Spil stated before, you can check your miner’s vertoning through the pools webstek, or through the software itself. To calculate your profits you can use this formula: P = M – W.
- P is Profit.
- M is Mined value, so if you mine Two.Three BTG, which is presently valued at $150 USD, M will be 345.
- W is wattage, or power consumption. You can find the monthly cost of running your miner by using this webstek: http://www.rapidtables.com/calc/electrical/electricity-calculator.htm
So your end result will look something like this, P = 345 – 67, P = 278. This shows that your monthly profit is $278. You can check the current price of Bitcoin Gold here: Coinmarketcap. When Bitcoin Gold mining calculators are released this process will be made simpler and more efficient.
Spil more miners join the Bitcoin Gold network ter the following months, the difficulty will go up. What this means is that if you’re pool mining, your payouts will toebijten less often. And if you’re solo mining, this means it will take a longer time for you to mine a block. If you want your profits to remain frequent, you will have to upgrade your hardware. You can upgrade this ter one of two ways.
- Adding more graphics cards or mining computers to your setup.
- Upgrading your graphics cards to newer or more powerful ones.
This will help boost your hashrate, and te turn increase your payouts ter order to remain a competitive miner. You may also want to upgrade your software for optimizations and fresh features, albeit thesis upgrades won’t benefit you spil much spil a hardware upgrade. They do, however, provide a puny hashrate boost. Some software upgrades you can do are:
- Update drivers.
- Update the operating system.
- Download the latest version of the mining software.