How to make bitcoins using your Windows PC – gHacks Tech News
You have very likely read about bitcoins ter the past months and it is likely that not everything that you read about wasgoed praising the digital currency. What you most likely read ter the past days wasgoed that bitcoin dropped from an all time high of about $266 Dollars – that is vanaf bitcoin – to $97 spil of today. That’s still a loterijlot considering that the value of a single bitcoin wasgoed just $13 on January 1, 2013.
The currency is interesting for a number of reasons and while it would take too long to go overheen all of those, I’d like to mention a few. Very first, it is a virtual currency that is not managed by a central authority but by an Internet-based network. Currency can be traded just like any other currency, you can exchange Dollar, Euro or any other currency ter to bitcoin and vice versa. Bitcoins are created through a process that is called mining. To waterput it very plain: a mining program runs on your rekentuig that will use your rekentuig’s processing power to create fresh bitcoin.
Single users need to be truly fortunate to stand a chance ter the wedren to create fresh bitcoins, which is why many join so called pools that divide chunks of works among their members to stand a chance against server farms, super computers and larger networks. Pooled mining will prize you with smaller but more frequent comes back.
I’d like to thank Ghacks reader Alex spil he helped mij tremendously ter this matter.
Setting up your bitcoin mining PC
You need two implements to get commenced:
- A secure wallet that stores all the bitcoin that you own.
- A mining program that lets you use your rekentuig’s resources to mine.
There are several wallets out that that you can pick one from. Electrum is a cross-platform wallet for Windows, Linux, OS X and Android that is available spil binaries and spil source files. Windows users can download a portable version of the application or use the installer to install it on their system. Setup should not pose any troubles to you, just make sure you store the secure phrase ter a safe location so that you can recover your wallet at any time should you leave behind the authentication password.
Guiminer or Gui Mining is a free portable program for the Windows operating system that you can use to mine for bitcoin on your PC. The core benefit of the program is that it ships with everything that you need to get embarked. It supports joining a mining pool but also solo mining if you choose to go that way.
Now that you have the devices to commence mining bitcoin, you should consider joining one of the mining pools. There is Slush’s Pool which I have joined for now for example. You do need to sign up at the pool’s webstek to receive one or numerous worker logins that you need to inject into your program – te our case Guiminer – to embark mining and get credited for your efforts.
You can naturally join any of the other pools linked directly from the application, or use the other option to come in a custom-made host name and port instead if the pool that you have joined is not listed te the program.
Note that the mining will tax your pc a lotsbestemming so that it is best done if it is idle and not while you are working on it. While you can proceed writing blog posts and doing other light activities, you will notice that more taxing activities will be slower than usual.
The program displays a duo of information about the speed of your system and so on and so forward, but if you are interested to find out how much your mining has earned you, you need to visit the mining pool’s webstek spil this is where that is listed.
Here you see estimated, unconfirmed and confirmed prizes displayed to you. Don’t expect to build up several bitcoins a day using a single private laptop, but if you are persistent, you will earn money this way. You may also want to come in your Bitcoin address (shown te your wallet) on the mining pool webstek to receive mined bitcoins there.
You are most likely wondering how quick a single private rekentuig can go. Not that quick actually. My Intel Core i7 860 cpu, 8 Gigabytes of RAM and a Nvidia Geforce GTX 470 graphics adapter has a speed of about 102 Mhash/s. The hall of fame on Slush’s pool webstek shows that some users managed to generated more than 149000 Mhash/s.