How to setup a basic Bitcoin Miner (GPU or CPU)

Very first things very first. You need to make sure you have the right hardware to mine. Check the listig below to find your movie card and make a note of its Mhash/s speed.

The latest Bitcoin surge has greatly effected the movie card market prices. Ter general for GPU mining, you want a ge ATI Radeon HD card. Solving the hash is an rechtschapen operation and since most Nvidia cards do floating point calculations, they are not optimal for mining.

Ok, so now you have the right hardware. Next, you want to download Bitcoin-QT (http://bitcoin.org/plus/ download). This program serves spil your “wallet” and synchronizes you to the Bitcoin P2P network. After you install Bitcoin-QT, make sure to encrypt your wallet with a pass-phrase by going to Settings – Encrypt Wallet

Sign up for an account at Slush’s Pool (https://mining.bitcoin.cz/) and create a worker. Go to My Account and copy te your Bitcoin wallet address and then write down your worker ID and password. Switch overheen to GuiMiner and add the worker. Make sure you have slush’s pool selected. Now you are ready to begin mining! Press Begin Mining and the app should connect to the pool and commence doing its thing. You should see the hash rate at the bottom right and current shares on the left.

Recall when I said to take note of your Mhash/s speed? This is needed to set the difficulty of your worker. Go back to My Account at Slush Pool and edit your worker. Select your hash rate and the difficulty will be updated. You can also set this value on GuiMiner.

That’s it! Glad Mining!

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Related movie: Bitcoin Mining Contract News | Genesis Mining & Bitclub Network


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