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To answer most of these questions you can use our best Bitcoin mining pools review or this excellent post from BitcoinTalk. How frequently they find a block (means how frequently I get rewarded)?

What fee they charge for mining and withdrawal of funds?

What is the reward method? – Proportional/Pay Per Share/Score Based/PPLNS When choosing which mining pool to join you will need to ask several questions: Basically, you will make a more consistent amount of Bitcoins and will be more likely to receive a good return on your investment. In a pool, you are given smaller and easier algorithms to solve and all of your combined work will make you more likely to solve the bigger algorithm and earn Bitcoins that are spread out throughout the pool based on your contribution. The reason you shouldn’t go it alone is that Bitcoins are awarded in blocks, usually 12.5 at a time, and unless you get extremely lucky, you will not be getting any of those coins. A mining pool is a group of Bitcoin miners that combines their computing power to make more Bitcoins. Now that you have a wallet you are probably roaring to go, but if you actually want to make Bitcoin (money), you probably need to join a mining pool. They won’t go to someone else, they will disappear forever. The reason is that if you computer crashes and you do not have a copy of your wallet.dat file, you will lose all of your Bitcoins.

SETUP SLUSH POOL MACMINER HOW TO

You can view a tutorial on how to create a secure wallet here. Make sure you have a copy of the wallet.dat file on a thumb drive and print a copy out and keep it in a safe location. you downloaded a program to your computer and are not using an internet based service) there’s one additional very important step. If you’re using a self hosted wallet (i.e.

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Notice that you’ll need your PUBLIC bitcoin address and not your PRIVATE KEY (which is like a password for your wallet). Each wallet has a different way to get the public Bitcoin address but most wallets are pretty straight forward about it. It will be a long sequence of letters and numbers. Because Bitcoin is an internet based currency, you need a place to keep your Bitcoins. Once you have a wallet make sure to get your wallet address. Today, the Antminer S9 is the newest and most powerful miner.įirst thing you need to do is get a “Bitcoin Wallet“.

Make sure to go over our different Bitcoin mining hardware reviews to understand which miner is best for you. Once you’ve finished with your calculations it’s time to get your miner. However, I can tell you from the get go that if you don’t have a few hundred dollars to spare you probably won’t be able to mine any Bitcoins. Just enter the data of the Bitcoin miner you are planning on buying and see how long it will take you to break even or make a profit. The best way to do this is through the use of a Bitcoin mining calculator. This means you need to find out if Bitcoin mining is even profitable for you. Before even starting out with Bitcoin mining you need to do your due diligence. As more and more miners come on board with the latest mining hardware the difficulty to mine increases each day. Get a Bitcoin mining rigīitcoin mining is a very competitive niche to get into. So, this is for the individual or group that wants to get started the easy way.

SETUP SLUSH POOL MACMINER PROFESSIONAL

I am not a professional coder, I have no experience with Ubuntu, Linux and minimal experience with Mac. One of the biggest problems I ran into when I was looking to start mining Bitcoin for investment and profit was most of the sites were written for the advanced user.

Setup slush pool macminer