BitCoin Mining Tutorial! All You Need to Know! Tutorial
Now how can I make money off this?
Since BitCoins are created by Miners which is soon going to be you. This setup will put you into a mining pool with other miners who work on a block which contains 25 BitCoins each. Each block broken is divided up among’st the workers relative to the amount of work they did.
What is a Miner?
A Miner is a program that utilizes your computer’s CPU (CPU Not recommended. There is no money to be made with it) or GPU to generate BitCoins. The program will not slow your computer down once it is turned off so don’t worry about that!
Great! How can I get started?
Well first we are going to need to set you up a BitCoin Digital Wallet. I like to use MultiBit, the link is Here
Download and install the wallet that is for your OS.
Now where can I find a BitCoin Miner??
I recommend using GUI Miner, because it is easy to set up, and is great for beginners!
You can download the latest version Here
It will download as a .zip file that auto-unzips when you run it. Just extract it to somewhere you will remember!
Once you extract it, run the program listed as guiminer
Make sure that you have OpenCL or PyOpenCL installed for you GPU to run this miner. Here is a link for OpenCL for AMD/ATI Cards
Here
Now we are going to need to sign up for a BitCoin mining pool!
I personally like to use slush’s pool, because it is reliable and over has a nice feel to it. You can sign up Here!
And now click on this
Once you have successfully signed up, go to Your profile, which can be found here
You are going to take your multibit wallet ID and import it to your account. Click the box to the right of the wallet ID to add it to your clipboard.
And import the wallet ID into your account!
Once imported, you are going to register a new worker on the same page. Scroll down and click to register a new worker. It doesn’t matter that you see my password because all you can do with it is mine for me and help me produce more BTC for my account
So now that we have everything set up on the client end, we are going to need to set up the rest on your end.
Open up guiminer and make the server slush’s pool. Also fill in your miner’s info, and use the miner password you set up, not your account’s password!
The device should already be selected to your fasted GPU, but make sure that you set it yourself just incase. We are going to be using your GPU because CPU mining is now obsolete because of the current difficulty.
You can add the text in the extra flags box such as I did to make your machine dedicated to purely mining -v -w 128 (This makes your computer’s graphics very laggy and makes your computer slow) or you can add -f 60 to be able to still be able to play on your computer(This makes it so that your computer leaves some room for your GPU to still be used some what efficiently)
Now all you have to do it hit Start Mining!
You can calculate how much you can make using BTC mining here
I hope this helped you all who are looking into starting BTC Mining. The price of BitCoins are going through the roof! The current price of a BitCoin at the time of this thread is $103.31!
