Hello readers, I guess by now everyone has heard about Bitcoin Mining at least Once. So if you always wondered how can you start mining today you have stumbled upon the right article today.
Today in this Article we are going to show you on how you can Start Bitcoin Mining on linux if you are not a Linux User Don’t worry we’ll write a follow up article for windows users too so without any further delay lets get started.
What Is Mining?
In the simplest term mining is a process in which you computer gets connected to a network of computers throughout the world to solve Humongous problems which cannot be solved by One Computer.
What are Bitcoins?
In short Bitcoins are the rewards you get for solving a part of the problem.Now the harder the problem is the more you get Bitcoin therefore it is exactly like mining the harder the stone the better the mining reward and eventually the mining will end when all the resources are finished that is the problem is solved.
Now lets start
For Mining you need three things:
- A Hardware to mine(ASICMiner Block Erupter)
- A Wallet to store the rewards
- A Piece of Software to start Mining
For the Sake of this article we will use laptop which is running a customised debian version on i3-Wm.
We will use the electrum wallet
and the BFG miner for mining
How To Download?
To download BFG-Miner go to http://www.bfgminer.org/
and download according to you current OS.
To Download Electrum
- Open Terminal and paste the following code and press enter One by One
sudo apt-get install python3-pyqt5
sudo apt-get install python3-setuptools python3-pip
python3 -m pip install --user Electrum-3.3.4.tar.gz[fast]
Now to create a wallet paste the following on the terminal
The above page will come up
Give a suitable wallet name and press next
Then select standard wallet and press next
Then click on create a new seed and click next
Then select legacy and click next
A set of strings will be shown please write it down on a piece of paper to recover wallet in case something goes wrong
You will be asked to confirm the string again on the next page so please confirm it then click next
On the next page you will be asked to enter a password please enter a strong password and remember it and click next.
It will generate a wallet link and open the electrum app.
On the receiving address tab you will be able to see your bitcoin address.
Now you have to register for a mining pool,this is like a license of mining on a mine.
Go to http://mmpool.org/register to register in a mining pool.
Enter your choice of username in the username field and you bitcoin address in the bitcoin wallet field.
Then click on register me.
Now to begin mining you need to insert an ASIC Miner in the laptop.
you can buy it online.
Now after inserting the miner enter the following on the terminal
bfgminer -o stratum+tcp://mmpool.org:3333 -u USERNAME -p anything
Enter your username in the username field and press enter!!!
thats it you can now mine from your home.
Now you might be asking why can’t you mine using your PC’s or Laptop’s CPU.
There are 2 reasons on why you should’nt do that:
- It’ll ruin your computer and hardware on long term usage
- It’ll make you nothing but poor as the energy required will be way way more than you can mine to start making profits.
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Thanks for reading