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Write Your Own Bitcoin Miner

Cnbc Explains: How To Mine Bitcoins On Your Own

Cnbc Explains: How To Mine Bitcoins On Your Own

CNBC Explains: How to mine bitcoins on your own Bitcoins act like cash, but they are mined like gold. So how does someone get into the current bitcoin rush? If properly done and willing to take the investment risk, you could wind up with a few bitcoins of your ownwhich currently have an average weekly price of $945 on the largest bitcoin exchange. When the algorithm was created under the pseudonym Satoshi Nakamotowhich in Japanese is as common a name as Steve Smiththe individual(s) set a finite limit on the number of bitcoins that will ever exist: 21 million. Currently, more than 12 million are in circulation. That means that a little less than 9 million bitcoins are waiting to be discovered. Since 2009, the number of bitcoins mined has skyrocketed. That's the way the system was set upeasy to mine in the beginning, and harder as we approach that 21 millionth bitcoin. At the current rate of creation, the final bitcoin will be mined in the year 2140. There are three primary ways to obtain bitcoins: buying on an exchange, accepting them for goods and services, and mining new ones. "Mining" is lingo for the discovery of new bitcoinsjust like finding gold. In reality, it's simply the verification of bitcoin transactions. For example, Eric buys a TV from Nicole with a bitcoin. In order to make sure his bitcoin is a genuine bitcoin, miners begin to verify the transaction. It's not just one transaction individuals are trying to verify; it's many. All the transactions are gathered into boxes with a virtual padlock on themcalled "block chains." Miners run software to find the key that will open that padlock. Once their computer finds it, the box pops open and the transactions are verified. For finding that "needle in a haystack" key, the miner gets a reward of 25 newly generated Continue reading >>

Writing A Miner?

Writing A Miner?

I'm somewhat interested in writing a miner but I have no idea where to start. I know a few programming languages (Assembly, C++, Perl) and I'm reading into CAL, but I don't actually know where to get information on fetching, processing and returning work. Can anyone help me out with some sources? Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. I can't help you with source code as i program in neither of those languages however requesting work is done over http with JSON-RPC (doesn't change wether it's a pool or the client) and looks like this in case of bitcoin: { "method": "getwork", "params":"", "id": 1} (getting a json parser for the language you're using is probably the best...) the returned workdata looks like this: {"result":{"midstate":"276da6622459d87a45e17e325d31cb8e75966485efb352b539e34aa6a6d6d3af","data":"0000000199cb04e9191f97d409dc884076c468f900934960fe2adcaf000001f100000000cb88f7deb414cbc7b766b3d16e124a72db61127f035b02ae72b7d0bc3798a6d84e0cc2931a0c2a1200000000000000800000000000000000000000000000000000000000000000000000000000000000000000000000000080020000","hash1":"00000000000000000000000000000000000000000000000000000000000000000000008000000000000000000000000000000000000000000000000000010000","target":"0000000000000000000000000000000000000000000000122a0c000000000000"},"error":null,"id":null} Long poll protocol looks like this: Returning the calculated work looks like before except you have replaced data with what you've calculated. this might be useful: but you might be able to find something on the wiki if it was me.. i would just look at a current miner and make an attempt to get it to perform 3% better (or more). then share the result here for tips at first.. the Continue reading >>

How To Set Up A Bitcoin Miner - Coindesk

How To Set Up A Bitcoin Miner - Coindesk

There are three main categories of bitcoin mining hardware, each more expensive and more powerful than the last. This guide to setting up a bitcoin miner explains each of them, and talks about how to make them work. By this stage, you will understand how bitcoin works , and what mining means. But we need to get from theory to practice. How can you set up a bitcoin mining hardware and start generating some digital cash? The first thing you're going to need to do is decide on your hardware, and there are two main things to think about when choosing it: This is the number of calculations that your hardware can perform every second as it tries to crack the mathematical problem we described in our mining section. Hash rates are measured in megahashes, gigahashes, and terahashes per second (MH/sec, GH/sec, and TH/sec. The higher your hash rate (compared to the current average hash rate), the more likely you are to solve a transaction block. The bitcoin wikis mining hardware comparison page is a good place to go for rough information on hash rates for different hardware. All this computing power chews up electricity, and that costs money. It's worth looking at your hardware's energy consumption in watts, when making your choice. You want to make sure that you don't end up spending all of your money on electricity to mine coins that won't be worth what you paid. Use these two factors to work out how many hashes youre getting for every watt of electricity that you use. To do this, divide the hash count by the number of watts. For example, if you have a 500 GH/sec device, and its taking 400 watts of power, then youre getting 1.25 GH/sec per watt. You can check your power bill or use an electricity price calculator online to find out how much that means in hard cash. However, the Continue reading >>

By Reading This Page, You Are Mining Bitcoins Quartz

By Reading This Page, You Are Mining Bitcoins Quartz

If you clicked the button above, then you are currently mining bitcoin, the math-based digital currency that recently topped $1,000 on exchanges. Congratulations. (It wont do anything bad to your computer, we promise.) New bitcoins are created roughly every 10 minutes in batches of 25 coins, with each coin worth around $730 at current rates. Your computerin collaboration with those of everyone else reading this post who clicked the button aboveis racing thousands of others to unlock and claim the next batch. For as long as that counter above keeps climbing, your computer will keep running a bitcoin mining script and trying to get a piece of the action. (But dont worry: Its designed to shut off after 10 minutes if you are on a phone or a tablet, so your battery doesnt drain). Lets start with what its not doing. Your computer is not blasting through the cavernous depths of the internet in search of digital ore that can be fashioned into bitcoin bullion. There is no ore, and bitcoin mining doesnt involve extracting or smelting anything. Its called mining only because the people who do it are the ones who get new bitcoins, and because bitcoin is a finite resource liberated in small amounts over time, like gold, or anything else that is mined. (The size of each batch of coins drops by half roughly every four years, and around 2140, it will be cut to zero, capping the total number of bitcoins in circulation at 21 million.) But the analogy ends there. What bitcoin miners actually do could be better described as competitive bookkeeping. Miners build and maintain a gigantic public ledger containing a record of every bitcoin transaction in history. Every time somebody wants to send bitcoins to somebody else, the transfer has to be validated by miners: They check the ledger to ma Continue reading >>

Minimal Bitcoin Miner In C#

Minimal Bitcoin Miner In C#

Bitcoin was introduced in 2009 as a digital, decentralized currency. In the Bitcoin network theres no central authority. Instead a public ledger of every transaction is validated and shared using peer-to-peer technology. Recently there was a surprising spike in the value of Bitcoins , making me curiousto find out more of the system behind. Bitcoin transactions are grouped and confirmed by encoding them in a block and adding it to a blockchain that is protected by strong cryptography. The cryptographic calculations arent provided by a central authority instead anyone with capable hardware and mining software installed can provide computational labor to help solve the next block. When a block is solved the successful miner (or mining pool) earns a reward in Bitcoins. (Currently 25 BTC worth about 2500) This is quite an incentive and so Bitcoin mining evolved into a very competitive market. Advanced mining software uses GPUs to compute hashes a hundred times faster then possible on CPUs and there is even dedicated hardware with hashrates in the Giga-range and a better Hashrate/power-consumption ratio. Nonetheless incredible amounts of electricity (~1 GW/h) are wasted on mining Bitcoins which is basically spend calculating zillions of SHA256 hashes. Currently the combined network of miners calculates roughly 80.000.000.000.000 Hashes per second. Crazy stuff. If you are trying to understand how Bitcoin mining software works but cant find a reference implementation that is minimal and easy to understand (like me, 2 days ago) heres my contribution: Miniminer is a simple CPU based Bitcoin Miner in C#. Only about 300 lines of code but fully functional, open source and uploaded on Github . It uses the basic GETWORK protocol to connect to pools and mines at ~400Kh/s a second. Tha Continue reading >>

The Economics Of Mining Bitcoin

The Economics Of Mining Bitcoin

CryptoCurrency has been getting a lot of attention in mainstream media lately, leading to a large influx of people wanting to get in on the action. As a co-founder of a CryptoCurrency index fund, a blockchain developer and a Bitcoin miner, I have a little advice for those folks who are new to the scene and want to ride Bitcoin's coattails. I'm purposely targeting Bitcoin mining, ignoring other -- possibly more profitable or easy to mine -- currencies. However, most of the challenges and calculations I'm introducing in this article will apply to altcoins as well. First off, mining Bitcoin is best done using an ASIC. ASIC stands for "Application-Specific Integrated Circuit" which is not a term you need to understand. ASICs are essentially computers that only exist to perform a single task. Because they're specifically made for one task, they do that task a lot more efficiently than other hardware, like GPU miners. However, ASICs are expensive so expect to spend at least $1500 on your hardware. Secondly, you need to think about power usage. Running an ASIC is like running a tanning bed 24 hours a day. This means your profitability entirely depends on how much you pay for electricity. If you live in a country where electricity is heavily taxed, you might want to look for a different hobby. However, if you live in a country like Iceland -- where electricity is nearly free -- you've got perfect conditions to make actual money from Bitcoin mining. Even if you pay only $0.10/kwh (which is low), expect to pay about a hundred dollars extra for electricity every month. Your third challenge is location. ASICs are loud and need to be kept in a cool location. This was the biggest thing keeping me from setting up my own Bitcoin mine. If we take the one ASIC I would actually buy -- th Continue reading >>

Development - Want To Write My Own Solo Cpu Bitcoin Miner - Bitcoin Stack Exchange

Development - Want To Write My Own Solo Cpu Bitcoin Miner - Bitcoin Stack Exchange

Want to write my own solo cpu bitcoin miner I just want to understand how this mining process works (from the developers point of view from very start to end). Can someone guide me towards a doc or a open source code (I am newbie here so a VERY BASIC one)?Thanks in advance Tim S. pretty much covered it, but I wanted to 2 great resources which have been very helpful for myself and many others: Ken Shirriff's blog has a few Bitcoin mining related posts which use Python code to great effectiveness; whilst Bitcoin Mining The Hard Way is probably the most useful, there's also some novel use cases where Ken tries Bitcoin mining by hand and using a 55 year old mainframe Not specifically related to mining, but very useful in visualising related concepts is RoyalFork Blog I'm not sure that a guide as basic as you describe is even possible. It depends on what exactly you mean. Mining itself isn't too complicated to read and understand, but writing a start-to-end app that can be used for mining means writing a full node. That is very complicated. Writing a Bitcoin miner from start to end involves not only collecting transactions, calculating the Merkle root, constructing the block header, and the actual hashing/mining, but also verifying the blockchain and each transaction in it, and communicating with peers in the network to get and send blocks and transaction. Some good resources for learning more are the bitcoin.org Developer Guide and the Bitcoin Wiki . These might include the basics that you are really after. Continue reading >>

Build Your Own Portable Bitcoin Mining Rig / Battlestation

Build Your Own Portable Bitcoin Mining Rig / Battlestation

Build Your Own Portable Bitcoin Mining Rig / Battlestation Introduction: Build Your Own Portable Bitcoin Mining Rig / Battlestation This is XK ; For a really long time since i bought and build my own Bitcoin Miners , I have always wanted to build something more "dedicated " for mining tasks rather than using classical Server cabinets and so on. Something that will change my life entirely... Something that will never be forgotten ! Thus i build my evil setup ! For those who are not willing to say " Shut up and take my Money ! " I highly not recommend to proceed from now on ! I would say " Run You fools ! " Enough B.S. Computational System We are struggling with heating issue. In order to resolve this issue (Since most of the CPU's are not operating above certain temperatures.) there are gigantic coolers in Data Centers , Or Liquid Cooling System in PCs or some Geeks such as us are using Liquid Nitrogen for Benchmark Overclocks, even baby oil ! Despite the fact that most of the People are thinking; "RESISTANCE" is the reason why Processing units heat up its actually not that simple. If you are more on the Scientific side you probably would have heard about and familiar with something called Information Theory , Thermodynamics and Entropy. At this point I would give you tiny tiny tiny piece of scientific explanation about heating but that's about it. Nothing more nothing less. This is an optional part of course for those who are CURIOUS about the reality behind heating (IN CPUs of Course) As we all know this Clich & Fact "Energy never Created or Destroyed " Energy Only transforms from one another.Despite the fact that we still could not fully formulate it as a Mathematical Model ; "Information" is also a kind of energy. So If you are familiar with Von Neumann Architecture Continue reading >>

Code Your Own Blockchain Mining Algorithm Ingo!

Code Your Own Blockchain Mining Algorithm Ingo!

Precision medicine. Powered by the Blockchain. Code your own blockchain mining algorithm inGo! If you have any questions or comments about the following tutorial, make sure to join our Telegram chat. Ask us anything! With all the recent craze in Bitcoin and Ethereum mining its easy to wonder what the fuss is all about. For newcomers to this space, they hear wild stories of people filling up warehouses with GPUs making millions of dollars worth of cryptocurrencies a month. What exactly is cryptocurrency mining? How does it work? How can I try coding my own mining algorithm? Well walk you through each of these questions in this post, culminating in a tutorial on how to code your own mining algorithm. The algorithm well be showing you is called Proof of Work, which is the foundation to Bitcoin and Ethereum, the two most popular cryptocurrencies. Dont worry, well explain how that works shortly. Cryptocurrencies need to have scarcity in order to be valuable. If anyone could produce as many Bitcoin as they wanted at anytime, Bitcoin would be worthless as a currency (wait, doesnt the Federal Reserve do this? *facepalm*). The Bitcoin algorithm releases some Bitcoin to a winning member of its network every 10 minutes, with a maximum supply to be reached in about 122 years. This release schedule also controls inflation to a certain extent, since the entire fixed supply isnt released at the beginning. More are slowly released over time. The process by which a winner is determined and given Bitcoin requires the winner to have done some work, and competed with others who were also doing the work. This process is called mining, because its analogous to a gold miner spending some time doing work and eventually (and hopefully) finding a bit of gold. The Bitcoin algorithm forces partic Continue reading >>

Someone Is Trying To Sneak Bitcoin Mining Code Into Open Source Software

Someone Is Trying To Sneak Bitcoin Mining Code Into Open Source Software

Someone Is Trying to Sneak Bitcoin Mining Code Into Open Source Software There havebeen some pretty creative attempts to mine bitcoins using unconventional means over the years, from lightbulbs to web browsers . But now, there appears to be a new, and malicious, method: Sneaking bitcoin mining code into open source software. If successful, this attack would mean that anyone downloading open source software implanted with bitcoin mining code could be unwittingly expending computing power and electricity to generate bitcoins, presumably for someone else. A single bitcoin is worth more than $1,000 USD at the time of writing. Here's what we know. Over the weekend, Russian open source developer Alexey Palazhchenko tweeted that his online code repository had received a request to add code to his project from a mysterious account on GitHub, a site for developers to code together. "There are few people contributing [to my project] and I want to increase that number, so at first I was happywow, a new contributor, totally out of blue, not someone I asked to contribute," Palazhchenko wrote me over email. But when he clicked on the account, he saw that it had already been banned by GitHub. This is when he became suspicious, he wrote. Read More: The Story of the 'Accidental' $137K Bitcoin Payment Just Got Very Strange Pull requests are the mechanism that developers use to request that their code be added to a project and need to be approved by the main coder. "There is no way I would accept it. [The] codebase is small, totally from a different area," he wrote. Basically, his project was small and had nothing to do with bitcoin, and so the request stuck out. Palazhchenko took his issue to the developer chatroom for people using Drone , a continuous integration tool that allows devel Continue reading >>

How To Mine Bitcoin: Here's Everything You Need To Know | Digital Trends

How To Mine Bitcoin: Here's Everything You Need To Know | Digital Trends

Posted on March 10, 2018 - 9:00AM 3.10.18 - 9:00AM When Bitcoin was first introduced in 2009, mining the worlds first and premier cryptocurrency needed little more than a home PC and not even a fast one at that. Today the barrier for entry is far higher if you want to make any kind of profit doing it. That doesnt mean its impossible, but its not the homebrew industry it once was. Still, if you want to know how to mine Bitcoin, there are a few steps you can take. One involves much more risk and monetary investment than the other, but the potential rewards are greater. So just as when it comes to buying Bitcoin or altcoins , you need to be aware that nothing in the world of cryptocurrencies is guaranteed. Any investment could be lost, so make sure you do your reading before pulling out your credit card. Before we discuss how to mine Bitcoins yourself, its important to note that although there is uncertainty in everything cryptocurrency related, mining is arguably the most volatile. Hardware price fluctuations, changes in Bitcoin difficulty and even the lack of a guarantee of a payout at the end of all your hard work, make it a riskier investment than even buying Bitcoins directly. Nobody can say whether Bitcoins will be worth more tomorrow than they are today, nor can they give you any concrete answer as to whether youll receive a return on your investment, but buying Bitcoin directly at least gives you something for your money immediately. Its certainly worth considering before you go down the mining route. Cloud mining is the practice of renting mining hardware (or a portion of their hashing power) and having someone else do the mining for you. You are typically paid for your investment with Bitcoin. Sometimes even if the hardware isnt used for mining Bitcoin. Although Continue reading >>

Development - Want To Write My Own Solo Cpu Bitcoin Miner - Bitcoin Stack Exchange

Development - Want To Write My Own Solo Cpu Bitcoin Miner - Bitcoin Stack Exchange

Want to write my own solo cpu bitcoin miner I just want to understand how this mining process works (from the developers point of view from very start to end). Can someone guide me towards a doc or a open source code (I am newbie here so a VERY BASIC one)?Thanks in advance Tim S. pretty much covered it, but I wanted to 2 great resources which have been very helpful for myself and many others: Ken Shirriff's blog has a few Bitcoin mining related posts which use Python code to great effectiveness; whilst Bitcoin Mining The Hard Way is probably the most useful, there's also some novel use cases where Ken tries Bitcoin mining by hand and using a 55 year old mainframe Not specifically related to mining, but very useful in visualising related concepts is RoyalFork Blog I'm not sure that a guide as basic as you describe is even possible. It depends on what exactly you mean. Mining itself isn't too complicated to read and understand, but writing a start-to-end app that can be used for mining means writing a full node. That is very complicated. Writing a Bitcoin miner from start to end involves not only collecting transactions, calculating the Merkle root, constructing the block header, and the actual hashing/mining, but also verifying the blockchain and each transaction in it, and communicating with peers in the network to get and send blocks and transaction. Some good resources for learning more are the bitcoin.org Developer Guide and the Bitcoin Wiki . These might include the basics that you are really after. Continue reading >>

Litecoin 101: How To Build Your Own Mining Rigs

Litecoin 101: How To Build Your Own Mining Rigs

Litecoin 101: How To Build Your Own Mining Rigs UPDATE 3: Nvidia has changed the game , so a new guide is in progress. Were still not even sure who created Bitcoin, the first cryptocurrency to go mainstream. Its value is erratic, swinging dramatically up and down within weeks. We dont know who will adopt or condemn it next, but one thing is certain: This new form of decentralized currency is resilient, and you can mine it, trade it, and sell it using nothing more than off-the-shelf PC parts geared toward gamers. Former Google employee Charlie Lee, Litecoins creator, refers to it as silver to Bitcoins gold. His intent was to improve on Bitcoin and, in the process, make it more accessible and obtainable. Indeed, Litecoin can be mined by off-the-shelf PC components typically snatched up by gamers. The Forbes E-book On Bitcoin Secret Money: Living on Bitcoin in the Real World, by Forbes staff writer Kashmir Hill, can be bought in Bitcoin or legal tender. But if youve been drawn in by the headline, youre not here for a history lesson. Youre here to jump into the Litecoin mining pool. With that in mind, Im going to present two distinct PC builds focused exclusively on Litecoin mining and explain some of the basic requirements and best practices along the way. First, let me qualify myself: Ive been mining 24/7 for the past two weeks; not long, but obsessively. Ive scoured dozens of forums and Reddit threads for answers and engaged in a lot of trial and error. Ive successfully turned what I instinctively viewed as funny money that existed in an encrypted digital Litecoin wallet into actual $USD deposited into my checking account. If its impossible to wrap your head around that, youre not alone! Next, Im going to caution you: Like playing the stock market or investing in genera Continue reading >>

How To Build Your Own Blockchain Part 1 Creating, Storing, Syncing, Displaying, Mining, And Provingwork

How To Build Your Own Blockchain Part 1 Creating, Storing, Syncing, Displaying, Mining, And Provingwork

How to Build Your Own Blockchain Part 1 Creating, Storing, Syncing, Displaying, Mining, and ProvingWork I can actually look up how long I have by logging into my Coinbase account, looking at the history of the Bitcoin wallet, and seeing this transaction I got back in 2012 after signing up for Coinbase. Bitcoin was trading at about $6.50 per. If I still had that 0.1 BTC, thatd be worth over $500 at the time of this writing. In case people are wondering, I ended up selling that when a Bitcoin was worth $2000. So I only made $200 out of it rather than the $550 now. Should have held on. Despite knowing about Bitcoins existence, I never got much involved. I saw the rises and falls of the $/BTC ratio. Ive seen people talk about how much of the future it is, and seen a few articles about how pointless BTC is. I never had an opinion on that, only somewhat followed along. Similarly, I have barely followed blockchains themselves.Recently, my dad has brought up multiple times how the CNBC and Bloomberg stations he watches in the mornings bring up blockchains often, and he doesnt know what it means at all. And then suddenly, I figured I should try to learn about the blockchain more than the top level information I had. I started by doing a lot of research, which means I would search all around the internet trying to find other articles explaining the blockchain. Some were good, some were bad, some were dense, some were super upper level. Reading only goes so far,and if theres one thing I know, its thatreading to learn doesnt get you even close to the knowledge you get from programming to learn. So I figured I should go through and try to write my own basic local blockchain. A big thing to mention here is that there are differences in a basic blockchain like Im describing here and Continue reading >>

Getting Started With Bitcoin Mining

Getting Started With Bitcoin Mining

You will learn (1) how bitcoin mining works, (2) how to start mining bitcoins, (3) what the best bitcoin mining software is, (4) what the best bitcoin mining hardware is, (5) where to find the best bitcoin mining pools and (6) how to optimize your bitcoin earnings. Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot. Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second. The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward. Step 1 - Get The Best Bitcoin Mining Hardware Purchasing Bitcoins - In some cases, you may need to purchase mining hardware with bitcoins. Today, you can purchase most hardware on Amazon . You also may want to check the bitcoin charts . To begin mining bitcoins , you'll need to acquire bitcoin mining hardware. In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to 100x the capability of older systems have come to dominate the Bitcoin mining industry. Bitcoin mining with anything less will consume more in electricity tha Continue reading >>

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