Bitcoin is a cryptocurrency. In addition to buying it, you can also receive it by mining. The bitcoin mining industry is constantly evolving as the overall market changes.
The past year has put tremendous pressure on bitcoin miners and the struggle of small miners to keep up with large companies is obvious. It is because of the “opportunity” that the struggle will be so intense. In 2019, bitcoin mining will continue to be a highly sought after activity.
Participating in mining is actually very simple.
So, what do we need to start mining?
First you need to buy a mining machine and power supply.
In the early days of Bitcoin, miners used computer CPUs or high-speed video processors to mine. Because of the increasing difficulty of bitcoin mining, nowadays most of the chips are customized with a chip optimized for mining.
For example, a mining machine with a customized Bitcoin ASIC chip has occupied the dominant position in Bitcoin mining because it can perform more than 100 times better than other processors.
So if you are a newbie: In order to mine bitcoin, the first thing you need to do is to buy a miner and set it up.
You should consider two things when looking for a miner. The price of each hash and the efficiency of the computer. There are a lot of mining machines on the market so you need to select them carefully.
The following miners are recommended in 2019:
|ANTMINER S9J||AVALON A851||whatsminer M10|
Secondly, you need to download the mining management software.
After purchasing a good mining machine, you must also download special software specifically for mining bitcoin, which can be used to see the status of the local mining machine.
You can choose the software provided by the mining company or you can choose other software
Take IPReporter as an example: after installing the software, you can scan the mining machine in the LAN. It will display the basic information of the mining machine: temperature, fan speed, mine pool, mining machine name etc. This helps to find out abnormalities such as irregular calculation power and temperature.
- Open the software and click “Start”
- Press the IP button on the miner for 1 second to release
- feedback on the computer mining machine IP
The last step is to choose a mining pool to register at.
We can view mining as a lottery, having a miner is equal to having a ticket to the lottery. You have a small chance to win, but if you win, you will win bigger. If you enter into a mining pool, you have a bigger chance of winning but your stake in the reward will be much smaller. Most miners don’t want to take the risk of never finding a block and join a pool for safety. In theory, over an infinite time, the reward will be the same.
If you are a beginner, joining a mining pool is a good option. Without joining a mining pool, you may be mining for a year without reward.
There is not much to elaborate on in the selection of mining pools. There are many Bitcoin mining pools. You can choose between pools which have lower handling fees and/or stability. Currently I am using Mempool, which supports BTC and BSV mining.
After the preparations are complete, it takes only two steps to start mining!
Step 1: Hardware connection – mining machine wiring
First connect the network cable. Plug the network cable into the network cable interface of the mining machine. Remember to plug it in tight.
Then connect the various interfaces of the mining machine power to the mining machine. Remember to connect the power board and the control board to the power supply.
Remember to check it after connecting the line.
After all the wires are connected, the power can be turned on. At this time, the light of the mining machine will start to light up and the machine will start to ring
Step 2: Software Setup – Connecting to the mining pool
Next we open the browser and enter the IP address of the miner in the address bar (you will get the IP address in the miner management software when you are ready to start).
Find the configuration item and fill in:
URL: mining address
Worker: the name of the miner in the mining pool
Password: Fill in any number
Click Save&Apply in the lower right corner and wait for the setup to complete.
Enter Miner Statu (mine machine state), refresh several times and you will see the current operation of the mining machine.
Now you can go to the mine to see how much coins your mining machine has earned for you!