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You're reading from  Bitcoin Essentials

Product typeBook
Published inFeb 2016
Publisher
ISBN-139781785281976
Edition1st Edition
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Author (1)
Albert Szmigielski
Albert Szmigielski
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Albert Szmigielski

Albert Szmigielski is a thinker, a computing scientist, a software engineer, and a blockchain professional. He holds a BSc in Computer Science and an MSc in Digital Currency. He has been involved in a number of start-ups and software projects. He believes in a decentralized, distributed nature of storing information, and hence has an interest in Bitcoin and blockchain technology. Albert is a researcher at CryptoIQ and a mentor at the Blockchain Institute. He frequently contributes to his blog at blog.cryptoIQ.ca.
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Summary


In this chapter, we explored ASIC mining. We explained how to install the mining software and how to set up the appropriate drivers; cgminer was our software of choice. We set it up on both Linux and Windows operating systems. We also connected to a mining pool to make sure everything was working as planned.

We examined the advantages and disadvantages of mining with ASICs. It will serve any miner well to ponder them when deciding to start mining or when thinking about improving current mining operations. We touched upon the best practices that we recommend to be kept in mind.

We also investigated the profitability of mining, given current conditions. A simple way of calculating, on average, your earnings was also presented. We concluded that mining competition is fierce; therefore, any improvements you can make will serve you well.

In the next chapter, we will look at the details of solo and pool mining.

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Bitcoin Essentials
Published in: Feb 2016Publisher: ISBN-13: 9781785281976

Author (1)

author image
Albert Szmigielski

Albert Szmigielski is a thinker, a computing scientist, a software engineer, and a blockchain professional. He holds a BSc in Computer Science and an MSc in Digital Currency. He has been involved in a number of start-ups and software projects. He believes in a decentralized, distributed nature of storing information, and hence has an interest in Bitcoin and blockchain technology. Albert is a researcher at CryptoIQ and a mentor at the Blockchain Institute. He frequently contributes to his blog at blog.cryptoIQ.ca.
Read more about Albert Szmigielski