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.
2. Set Up a Bitcoin Miner
Hash rate:-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.
Energy consumption:-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.
3. Bitcoin Mining Hardware
GPU:- Mining is largely dead these
days. Bitcoin mining difficulty has
accelerated so much with the release of
ASIC mining power that graphics cards
can't compete.
FPGA Bitcoin Mining:- A Field
Programmable Gate Array is an
integrated circuit designed to be
configured after being built.
ASIC Bitcoin Miners:- This is
where the action’s really at. Application
Specific Integrated Circuits (ASICs) are
specifically designed to do just one thing:
mine bitcoins at mind-crushing speeds,
with relatively low power consumption.
4. What are Bitcoin Mining Pools?
Pros and cons:- If you’re
deciding whether to join a mining
pool or not, it can be helpful to
think of it like a lottery syndicate –
the pros and cons are exactly the
same. Going solo means you won’t
have to share the reward, but your
odds of getting a reward are
significantly decreased.
Currency difficulty:- In
bitcoin's case, the current difficulty
level is so high that it’s practically
impossible for soloists to make a
profit mining. Unless, of course,
you happen to have a garage full of
ASICs sitting in Arctic conditions.
5. Pool rewards
When deciding which mining pool to join, you need to weigh up how
each pool shares out its payments and what fees (if any) it deducts.
There are many schemes by which pools can divide payments. Most of
which concentrate of the amount of ‘shares’ which a miner has
submitted to the pool as ‘proof of work’.
6. Starting to mine with a
pool
Having decided which currency
to mine and which pool you'll
work for, it's time to get started.
You need to create an account
on the pool's website, which is
just like signing up for any other
web service. Once you have an
account, you'll need to create a
‘worker’. You can create
multiple workers for each piece
of mining hardware you’ll use.
The default settings on most
pools are for workers to be
assigned a number as their
name, and ‘x’ as their
password, but you can change
these to whatever you like.
7. SET UP ACCONT
START MINING
SIGN UP RIGHT NOW!!
https://www.gainbitcoin.com/signup/om103/R
http://www.btcmininghub.com/