BITCOIN FARM

Saturday, July 16, 2016

Most Productive way to mine.


A lot of speculation has been placed, but I am here to show you the correct most profitable way to use your mining resources. For the sake of this lesson, we will be using two Antminer S3 miners for this example.

It is ok to mine bitcoin for the sake of securing the network, however, it is not profitable if you wish to live off of this currency. So let us look for an alternative Crypto currency we can mine at SHA256 with the lowest difficulty. We will get into the lower difficulty in a another article.

 
This website gives you a listing of many Alternative Coins to mine along with the difficulty. The key is to look through the coins and find the one that can be mined with SHA256 Algorithm, so you can use the Antminer S3. When you look through the coins you need to look for 3 key pieces of information:

Algorithm Sha256
Mining Difficulty
14 Day trade Volume

Now that you have selected the coin you will need to set up your miner, find the best p2pool and get the information.

SETTING THE WORKERS.

As I stated you want to get the maximum earnings for each miner. This means when you set up the workers, if you are using a p2pool then give each miner a different address to the same wallet. If you are using a pool that you had to register then use worker 1 for one and worker 2 for the other.

The main reason why you do this is for three reasons.

Getting the entire amount of hashing power. If you mine any pool with multiple miners, and you use the same address or worker the pool will average out the hasing power. Think about it like this:

1st Antminer is mining at 350 GH/s. The 2nd Antminer is mining at 425 GH/s this is what happens

350+425=775 now divided by 2 for 2 Antminers, 775/2=387. This means the amount of shares will be based on 387 GH/s. You do not wish to short change yourself.

The second main reason why you give each miner a different address or worker is for full potential of earnings. With the maximum amount of Hashing Power now distributed in the pool you will receive the maximum earning by way of each miner being paid for the work it is producing.


The third reason is for maintenance reasons. If one Antminer is giving you approximately 150 coins each hour, and the other one is giving you 53 coins every 2 hours, you know which miner to replace based on the address you assigned it.


Hopefully this helps you become a more profitable miner. Remember Mining is the most important and intricate part of Cryptocurrency.

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