How to Set Up a Bitcoin Miner
It requires expensive equipment called ASICs that are made by a controversial, centralized company called Bitmain. These centralized mining cartels mint the vast majority of new Bitcoin, and are responsible for contentious forks of Bitcoin in order to maintain a monopoly of the network.
Can you mine bitcoin with a regular computer?
Monero has an interesting feature that allows CPU mining to always be competitive, no matter the size of its network. If you leave a spare core, you should have no problem doing most tasks on your computer while simultaneously earning passive mining income.
It depends on your equipment, but if you have a decent CPU you can make a reasonable income as long as your computer is on and running. Every month or so, Withdraw your earnings to your favorite altcoin exchange and either a. Hodl your Monero or b.
Sell for Bitcoin. This past year I have continuously sold most of my earned Monero directly for Bitcoin. I personally mine Zcash and sell every week for Bitcoin or other interesting cryptocurrencies.
I prefer bitcoin on a regular computer use Suprnova pool. Minergate also offers GPU mining if you like their interface better.
Here, Suprnova offers a detailed guide for how to get up and running.
Zcash is another anonymous coin similar to Monero. Filecoin looks to be the most exciting of the three, but unfortunately it is not live yet.
Therefore, I mine Storj with my hard-drive. Sia is legitimate as well, but very unprofitable at the moment as a host Apparently, Google is an investor in Storjand while it has had growing pains, I am bullish on Storj going forward. Enter this address in Storj Step 1, then move on and choose a folder to host your rented HD space.
How Bitcoin Is Mined
Follow through the steps, and the default setup should work for most Mac users no problem. If you are a Windows user, you need to do two extra things. Sync your time clock with the nearest server, as described in 3. Next, you need to make sure you chose an Open Port, as described in 3.
It will take weeks to fill up all of your space, but a few GBs worth of rented space can still yield profits.
Weighing The Costs Of A Mining Rig
While some people call Cryptocurrency a bubble, I believe it will one day become an important part of the world economy. Furthermore, I think that a few dollars worth of Cryptocurrency today can grow into a lot more in the future. To read more about Bitcoin and its role in transactions with money to earn global economy, check out my latest story here.
Share this story.