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“Well, I think the bitcoin mining calculator is working. There may be other currencies like it that may even be better. But in the meantime, there’s a big industry around Bitcoin.- people have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.”
-Richard Branson, Founder of Virgin Galactic
What is a Bitcoin?
Before we learn about the biggest tools of Bitcoin Mining lets get a brief overview of what is a bitcoin and what is bitcoin mining.
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Bitcoin is the most popular search on google. Launched in 2009, Bitcoin is a digital currency, the world’s largest cryptocurrency by market cap.
Bitcoin the first cryptocurrency, with a very high exchange rate has taken the world by a storm. One can either buy or mine Bitcoins
In addition to that, bitcoin mining calculator offers a lower transaction fee than conventional methods of online payment.
Unlike Govt. issued currency, a decentralized authority operates Bitcoins
The blockchain, a decentralized ledger system, creates, distributes, trades and stores Bitcoins.
Understanding Bitcoin Mining Calculator
Bitcoin mining The major aspects of Bitcoin mining are:
- Issuance of new bitcoins
- Confirming transactions
- Security
Mining is the process through which New bitcoins are circulated in the market.
High powered specialized computers, used to solve the complex computational maths problem, perform Bitcoin mining.
Mining is a process that adds transaction records to the Blockchain that is bitcoin’s public ledger. The ledger confirms every transaction and every single user has access to the Blockchain.
It also distinguishes between legitimate bitcoin transactions from the attempts of respending money that has already been spent somewhere else.
Role of Bitcoin Miners:
Firstly, they secure the network and process every Bitcoin transaction.
Secondly, solve the computational problem which allows them to chain together the blocks of transaction.
Thirdly, miners receive the newly created Bitcoins as rewards, in addition to the transaction fee.
Biggest Bitcoin Mining Calculator :
What is a cryptocurrency mining software?
Bitcoin mining software
Bitcoin mining software is actually the tool that hooks your hardware into your desired mining pool.
With the help of the mining software, the miner tells the pool which Bitcoin address the payouts have to be sent.
Bitcoin Mining calculator software displays statistics like the hash rate, speed of your miner, temperature and the fan speed.
It is a method to create new bitcoin and add components to an existing block chain.
You could be a solo miner- (The mining software connects your Bitcoin Miner to the Blockchain).
Mine with a pool – (The mining software connects you to your mining pool).
A cloud miner – (You do not need a mining software at all)
In all the above scenarios, mining software is equally important.
Bitcoin Wallets
Before using any kind of mining software you will most importantly need a Bitcoin wallet, the reason being that the mining software will need your address to send your rewards.
Once you download or create a bitcoin wallet you will get a bitcoin address from your wallet. Some of the most recommended Bitcoin wallets are- Ledger Nano X, ios Wallets, Android wallets, Desktop wallets.
Mining the new currency validates it. Since the mining party contributes to the blockchain, the new currency belongs to them as a reward.
Cryptocurrency mining technology uses the processing power of the computer’s graphics processing unit (GPU) to help in locating blocks.
Miners do mining these days through a mining pool.
Mining pool shares resources over a network and distributes the rewards.
Mining of Bitcoin requires dedicated hardware, for instance, ASICs, FPGAs, that use processing power as well as software application to manage these rigs.
Bitcoin mining software utilizes the processing power of the site visitors. Other tools dedicate local server resources to mining pools. Companies can use these tools to make their own cryptocurrency.
The criteria to be a part of the Cryptocurrency mining software is, firstly, the product must allocate resources to cryptocurrency mining.
Secondly, use GPU or CPU for mining.
Lastly, connect mining hardware to blockchain or pool.
Given these inputs now let us know the various software used for Bitcoin mining.
1. MULTIMINER: If we talk of the ease in the usability of Bitcoin mining software, then Multi Miner is the most recommended software. If you are new to the world of mining, MultiMiner is the perfect solution.
Mutiminer is a desktop application that comes with amazing features used as bitcoin mining calculator. Available for Windows, Mac OS X and Linux, Mutiminer makes it convenient to switch mining devices (e.g. ASICs, FPGAs ) between different cryptocurrencies, for example, Litecoin, Bitcoin) smoothly.
With the help of the underlying mining engine, this software detects the available mining hardware.
Also makes it easy for you to choose the bitcoins you want to mine. MultiMiner has sophisticated features with which it can automatically detect network devices.
It can also remotely control other MultiMiner rigs. In addition to that, MultiMiner is also compatible with various mining devices like block Erupter, BFL/Bitforce, and HashBuster Micro.
2. BFGMIner: If you like to customise, build, modify your Bitcoin as per your specifications or preferences the BFGMiner is the best software to meet your requirement.
BFGMiner is written in C.
It is a modular FPGA/ASIC miner with dynamic clocking, monitoring and remote interface capabilities.
BFGMiner has an inbuilt stratum and network proxy server.
It has heavily threaded code hands out work retrieval and work submission to separate threads, to avoid any hindrance.
BFGMiner supports decentralized mining protocol ‘getblocktemplate’.
BFG miner can generate work even before the existing work is finishes.
BFGMinor has a watchdog thread that restarts idle thread. Even if they fail to fes[ond it will not let the machine to crash.
It displays summarised and discrete data statistics of requests, accepts, rejects, hw errors, and efficiency and utility. With hardware support, the program can monitor device temperature.
BFGMiner has many device drivers for Bitcoin, INcluding Drillbit Thumb and Eight, Twinfury USB stick miner, Ztex’s FGPA boards. It also has drivers for the script, such as GAW War Machine and ZeusMiner Units.
3. Easyminer: Easyminer is an open-source mining software that designs to mine Bitcoin, Litecoin and other cryptocurrencies.
With the Best GUY Front-end For Multiple tools, it makes mining easy.
It only works on Windows.
Since different cryptocurrencies have different command line mining tools, managing them is a hard task which is simplified by Easyminer.
It supports minerd, ASIC,cudaminer,cgminer,ccminer mining for Bitcoin.
This software comes with a dedicated “MoneyMaker” mode for the mining of LTC on its own stratum pool.
Also, allows the users to choose a pool of their own, as well as a custom hash algorithm corresponding to the coin they want to mine, with the help of a “Solo” mode.
Moreover, It provides extra security for the pool stratum and wallet architecture by using NHIL (Network Hardware Id Layer) protocol.
4. Awesome Miner: Awesome Miner is a robust software that manages multiple mining rigs, of different types(ASICs, FPGA).
Awesome Miner works on Windows and Linux. It offers a web front-end accessible from a computer, smartphone or tablet.
Awesome Miner supports more than twenty-five mining engines such as sgminer,scminer,cgminer, xmrig and bfgminer.
Awesome miner is compatible with all popular mining algorithms, like SHA-256, Scrypt, X11, Ethereum, and Z cash.
With Awesome Miner, the miner can switch, add and also manage pools for multiple users in a single operation.
It has a comprehensive dashboard that allows the user to monitor the status and temperature of all ASICs and FGPA devices from one location.
Awesome Miner has a built-in C# script engine, that creates customized triggers and actions.
It is useful to set up privileged API access and configure default pools for all Bitmain Antminer ASICs in a single operation.
5. CGMiner: CGMiner is very versatile that makes it one of the most popular mining software.
It runs on Windows, Linux and Mac.
CGMiner is compatible with these mining hardware: GPU, FPGA and ASIC.
It also has advanced detection of new blocks, a feature like remote interface.
It also has the ability to scale to a hash rate of any size without any delay.
6. BTC Miner: BTCMiner is a cloud-based mining software with over one lakh forty-two thousand users.
You just need a Bitcoin wallet, address, FGPA mining hardware and internet connectivity to mine cryptocurrency on this software.
BTCMiner’s most amazing feature is its dynamic frequency sailing that is based on error management. Therefore this software by default selects the frequency with the highest hash rate.
BTCMiner has other unique features like, ready to use Bitstream which allows you to run the mining software without Xilinx software or license.
BTCMiner also comes with a power save mode and overheating protection.
7. BitMinter: Bitminter is an open-source mining software.
Firstly, like Easyminer it is also GUI based.
Secondly, It runs on Windows, Mac, and Linux.
Thirdly it is also compatible with mining hardware like GPU, FPGA and ASIC.
Most importantly, a miner needs to join BitMinter’s mining pool before using its software to mine Bitcoin.
8. DiabloMiner: DiabloMiner uses Java GPU bitcoin Miner.
It also uses the OpenCL framework to perform the hashing computations.
DiabloMiner is compatible with GPU mining hardware, in addition to that, it runs on Mac.
In case the user has any of the current Nvidia drivers or an ATI Stream SDK 2.1 It will run on any operating system.
At the same time, the miner has the option of either doing solo or pool mining.
9. NIceHash Miner: Nicehash is an open marketplace platform where sellers or miners of hashing power connect with buyers of hashing power.
Buyers select the cryptocurrency they want to mine and also the pool on which they want to mine
Buyers select the algorithm and the speed while miners running the Nicehash Miner
software fulfill the order by Mining.
They provide computing power to the network and receive in Bitcoins.
10. HASHR8 OS- by Miners, for Miners: This is the best mining software for Linux.
Hashr8 mining software has overcome the inefficiencies of other mining systems like the issues related to managing multiple mining devices, also maintaining a steady mining performance.
In addition to that fixing spontaneous errors and maximizing the efficiency of their hardware.
Furthermore managing the system remotely.
HASHR8 constantly monitors the performance of your rig and in case of any error automatically restarts it.
It also comes with a handy mobile app that enables you to control your mining system.
Besides that this mining software enables the user to control multiple mining rigs from the phone.
Hashr8 is compatible with CPUs, GPUs, and ASICS.
Hashr8 offers you the option to choose between three different packages:
Home Miner that is free and you can run three mining devices at the same time.
In addition to that, there is Pro Miner, after the first three devices, it costs $ 2 per month for every single mining device
Corporate Miner provides a dedicated account manager, additional configuration and integration option.
It also gives discounts if you use more than three hundred mining devices.
Lastly, all three options assist you with 24/7 customer support.
11. BRAINS OS+: This software is best for Windows.
This software is a creation of Marek “ Slush” Palatinus, the original inventor of mining pools. Also known for his invention of the world’s first hardware wallet Trezor.
Braiins is absolutely free.
Satoshi labs give incentives to join their slush mining pool to make money off of Braiins Os.
Braiins OS+ supports Antminer, S9, S9i and S9j. This software increases the efficiency of S9 family and it can extend the life of S9 ASICs.
Braiins OS+ increases the hash rate of S9 up to 17+ terra hashes per second.
It also takes S9 on low power mode and delivers 20% better performance than S9i which is a great performance boost.
Braiins OS+ comes with some unique features like:
- Unlocked SSH
- Automatic updates to the OS firmware
- Instant device installation on all devices
- Superfast bootup speed
- Complete fan control
- Pre-heating to get mining faster
Braiins OS+ has implemented its stratum V2 communication protocol. Which offers some really advanced features like:
bandwidth load reductions
hash rate variance control
hash rate hijacking protection.
Moreover, It also comes with a nifty Proxy so that one can use the stratum on other pools even if it is not supported by them.
12. HIVE OS: This is the best software for MacOS.
Hive OS is a one-stop dashboard that allows miners to monitor and control all of their ASICs and GPU from one centralized location.
It supports Bitcoin, Ethereum, Bcash, Monero, and many more
Irrespective of the number of rigs you have Hive OS can integrate with all.
It is easy to install furthermore it automatically detects mining rigs and adds them to the dashboard.
Similar to Hashr8 HiveOS allows miners to track a number of different metrics like:
- Online status
- Hash rate
- GPU errors
- Pool configuration
- Power consumption
- Team activity
The most important feature is that Hive Os is easily accessible, its information is accessible from anywhere in the world.
You need not physically connect to the miners.
Hive OS allows its miners to firstly switch coins If one coin becomes more profitable than the other.
Secondly, at once change miner configurations.
Lastly, change mining tools.
Moreover, Hive OS supports 500 different currencies and 85 mining rigs. It also improves efficiency that can boost hash rates.
Also, it cuts down on energy as much as 25%.
BesidesHive OS is also affordable at $2 per month per ASIC. It offers discounts to any business with more than five hundred miners.
Furthermore, if you purchase the Hive Firmware upgrade for your rigs you could get Hive for free.
Significance of Bitcoin Calculator:
Here we have discussed the most popular and userfriendly Bitcoin mining software.
Therefore we cannot undermine the importance of a good bitcoin mining software
We may have the best mining hardware in the world but without a bitcoin mining software, it has no significance.
A word of caution for miners
It is important to make sure that you download the mining software from the genuine site and not copy cat sites as there is a possibility that a lot of mining software may try to steal your bitcoins
VPNs for Bitcoin Mining calculator
When we are dealing with bitcoins we can never be sure of security. VPN adds the extra layer of protection to your mining software.
Moreover to remain anonymous while mining you can use Tor to channelize your traffic.
Make Sure! Bitcoin Mining is legal in your country.
Before you take the plunge, make sure that bitcoin mining is legal in your country. Though it is not a big issue in most countries, one must consult the local council for any assistance and also the tax implications beforehand.
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