How to Mine Bitcoin Gold?
Looking to mine the newest cryptocurrencies out there? How about mining Bitcoin Gold! While Bitcoin mining got to a whole new level, Bitcoin Gold is designed especially for GPU mining. This means, you only need a desktop computer and a Graphics card to start earning money today. Already a Zcash miner or new to mining, this is a complete guide for you to get started from buying the necessary hardware to setting up the software and calculating your profits.
Miners, to ‘prove’ that the BTG transaction was legitimate, used computers with multiple high-end graphics cards to run the Equihash mining algorithm in order to search for a number. If the number was correct, the block is verified and the miners start working on the next block. Equihash is a popular algorithm that is currently used by the popular privacy coin ZCash.
When mining, you can decide whether to mine by yourself (solo) or with other (pool mining). The difference here is that with solo mining you have to do all the work by yourself, unlike pool mining where you work alongside others to mine the block. This means that solo miners require multiple, powerful computers with many high-end video cards.
However, pool mining is far simpler because you will be “pooled” together with other miners, and the combined hashrate of the pool will go towards solving the block. Because the pool is using the combined hashrate of all the miners, instead of being paid the entire block reward like you would when solo mining, each miner will be paid accordingly towards their own contribution. For example if you are contributing towards 10% of the pool’s total hashrate when a block is mined, you will be paid 10% of the total block reward.
For Bitcoin Gold the mining will primarily be done on graphics cards, but you will still need auxiliary components such as the:
Processor – a fast processor is not required and a standard Intel Celeron is a popular choice among miners.
Motherboard – there are many “mining” motherboards that have multiple PCI slots for your graphics cards, however, any standard motherboard with a few PCI slots will be fine.
RAM – a 4GB stick of memory will suffice for mining.
Storage – in order to store your operating system and mining software you should either have a small SSD for faster boot times or a cheaper, albeit slower HDD will be fine. It is fine to run your operating system off of an external hard drive, but this will lead to slow boot times.
Power supply – to power the components you will need a power supply, and depending on how many graphics cards you are using you may have to use one with a maximum power of at least 800W or even multiple power supplies.
Case – because the standard ATX cases cannot support more than 3 or 4 graphics cards, many miners decide to build their own cases, some even out of shoe racks. There are also websites to buy mining cases, however, you will pay quite a large premium. Here is a link to one of those websites: Cryptomined. If you decide to get a custom case you will need to get PCI-E riser cables. These are nifty little extension cables that allow you to take your video cards off the motherboard and on to a more elevated position. This lets you put multiple graphics cards on the same motherboard. Another thing you will need is a power button, as you will not be able to power the system.
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