When Bitcoin was first invented in 2009 as a potential alternative to government-managed currencies, there were very few people who believed it would last. However, it shows no signs of stopping, and as the prices of Bitcoin and other cryptocurrencies rise in value, more and more people are interested in learning how to profit from Bitcoin.
Bitcoin mining has two main components – hardware and software
Bitcoin mining software is what you use to communicate between the hardware you use and the Bitcoin blockchain. The software will also communicate with a Bitcoin mining pool (similar to a Bitcoin mining co-op) if you are part of one.
Bitcoin mining software options
There are many Bitcoin mining software options available on the market. Here are some common ones:
CGMiner
This software operates on Windows, Mac, and Linux operating systems and is probably the most widely used Bitcoin mining software at the moment. The program includes features such as remote interface capabilities, multi-GPU support, automatic block detection, fan speed control, and CPU mining support.
BFGMiner
This Bitcoin software is built on an open-source platform. It comes with USB interface and supported FPGA boards and ASIC chips that can be programmed and communicated with. It has many important features, including the ability to choose the frequency with the highest correct hash rate, and since it is open-source, it does not require a license and works on Windows, Mac, and Linux operating systems.
EasyMiner
This software works on Windows, Android, and Ubuntu (Linux) operating systems. It has a graphical user interface that works with CGminer software. Many people love it because it provides an easy visualization with graphs of your Bitcoin mining adventures.
MultiMiner
This is another graphical interface, but this time for BFGMiner. The design of this interface is very intuitive and works well for people who are new to Bitcoin mining because it features an easy-to-understand dashboard.
Awesome Miner
This software works on Windows and Linux operating systems and is great for people who wish to expand their operations. Awesome Miner can manage up to 200,000 individual ASIC mining devices and 25,000 GPU/CPU mining devices at the same time.
Getting started with Bitcoin mining
The software you choose for Bitcoin mining is somewhat of a personal decision. A lot depends on the operating system you prefer to use and whether you really want a graphical user interface.
Bitcoin mining can still be quite profitable, but like most things, it requires time, resources, and a specific skill set to learn.
Frequently Asked Questions
How much can you earn from Bitcoin mining?
The amount of money you can earn from Bitcoin mining depends on the power of your computer. Miners compete to complete blocks, so the greater your power, the higher your chances of successfully mining a block. Each successfully mined block is worth 6.25 Bitcoins.
How can you join a Bitcoin mining pool?
One of the easiest ways to join Bitcoin mining is through shares of Bitcoin miners. These companies mine Bitcoin and sell shares of ownership in the operations overall. There are also Bitcoin mining pools that involve giving your computer’s power to a larger Bitcoin mining effort. The process for joining will depend on the specific pool, but you’ll want to research the pool to make sure it’s a reputable and legitimate organization.
Source: https://www.thebalancemoney.com/how-to-pick-the-best-bitcoin-mining-software-4173838
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