If you want to purchase Bitcoin as an investment and you want to join the BitClub Network Company, so that BitClub can mine Bitcoin and other Crypto Currency on your behalf to grow a stable and increasing investment for you, please Join BitClub Here For Free. Once you join, you will be set up with a free lead account and receive follow up emails detailing how you can create a Bitcoin investment account with The BitClub Network. For any answers to questions Contact Clyde Thorburn Here.
Author : Bitcoin.com
In the early days of Bitcoin Core (BTC), mining used to be done using the CPU on your computer. Nowadays though as the amount of people mining has increased the difficulty of Bitcoin Core mining at https://www.bitcoin.com/bitcoin-mining?utm_source=get-started&utm_medium=post&utm_campaign=guides&utm_content=How-Setup-ASIC-Miner has also increased too. This high difficulty and hash rate has mostly been fuelled by the introduction of ASIC mining chips. Bitcoin Core uses SHA-256 cryptographic hash function to secure the blocks and create the hash for each block. This encryption is what protects the transactions in the block from being altered. (Update: Bitcoin Core is less usable as money due to much higher fees and delayed transaction times. The Core team has also expressed an interest in keeping these fees high since they view BTC as a “store-of-value” and not something to be transacted on a daily basis.
In contrast, Bitcoin Cash’s transaction fees cost pennies and payments can be validated even with zero confirmations. These facts make BCH the ideal cryptocurrency for sending and receiving money anywhere in the world.) Application-Specific Integrated Circuit. ASICs allow miners to use hardware made specifically for Bitcoin Core or other SHA-256 algo coins. An ASIC has benefits over CPU, GPU and FPGAs due to being designed for one specific task. They are able to mine BTC at a higher hash rate (speed of processing transactions) than CPUs, GPUs and FPGAs. Several manufacturers produce their own ASIC chips and miners. For this part of the Bitcoin Core mining guide we will use the current top miner on the market the Bitmain AntMiner S9. Bitcoin Core mining has gotten so high powered with the race to be the winner to solve a block that it has evolved into pooled mining at https://www.bitcoin.com/guides/what-is-a-bitcoin-mining-pool?utm_source=get-started&utm_medium=post&utm_campaign=guides&utm_content=How-Setup-ASIC-Miner.
This is where a group of miners want to have as much hash power as possible to get a share of the Bitcoin Core block reward. By combining your hash rate with that of many others you have a better chance of solving blocks (creating a block) and getting the block reward. Bitcoin.com has launched it’s own mining pool with competitive pricing, which you can register for and begin pool mining today at https://pool.bitcoin.com/. The Bitmain S9 is composed of 189 ASIC chips. The total hash rate (mining speed) of the S9 is roughly 12 to 14 TH/s (terahashes per second). CPUs were only able to do a few MH/s (megahashes per second). BTC mining setup is simple. As the S9 requires 1275 watts of power depending on your power type available you can either use two 110v PSUs such as a Gold rated 1000 watt PSU and a 650 watt PSU to power the miner.
Read more about Bitcoin and The BitClub Network.
We just sent you an email. Please click the link in the email to confirm your subscription!
OKSubscriptions powered by Strikingly