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Bitcoin Mining Software

Now that you already know about the best Bitcoin mining hardware, we’re going to talk about Bitcoin mining software.

What is Bitcoin Mining Software?

Bitcoin mining hardware handles the actual Bitcoin mining process, but:

Bitcoin mining software is equally as important.

• If you are a solo miner: the mining software connects your Bitcoin miner to the blockchain.
• If you mine with a pool: the software will connect you to your mining pool.
• If you are cloud mining: you do not need mining software.

Importance of Bitcoin Mining Software

The main job of the software is to deliver the mining hardware’s work to the rest of the Bitcoin network and to receive the completed work from other miners on the network.

Bitcoin mining software monitors this input and output of your miner while also displaying statistics such as the speed of your miner, hashrate, fan speed and the temperature.

Bitcoin Wallets

One of the most important things you will need before using any kind of Bitcoin mining software is a wallet.

This is because all Bitcoin mining software will ask you for a Bitcoin address that will be used to send your mining rewards and payouts. Once you create or download a wallet you will be able to get a Bitcoin address from your wallet.

There are many Bitcoin wallets, but these are the ones we recommend if you are just starting out:

• Ledger Nano S – Secure Bitcoin hardware wallet for all platforms.
• Electrum – Simple Bitcoin wallet that works on Mac, Windows, and Linux.
• Mycelium – The most popular Bitcoin wallet on Android.
• breadwallet – The most popular Bitcoin wallet for iOS.

If you expect to earn a lot of money through mining then it would be smart to purchase a more secure wallet: a hardware wallet.Now that we understand mining software and how it helps in the mining process, and you got your Bitcoin wallet and address, let’s look at different software on different operating systems.

Bitcoin Mining Software for Windows

Bitcoin Miner

You can use Bitcoin Miner on Windows 10 and Windows 8.1.

It has an easy to use interface, power saving mode, mining pool support and fast share submission.

One useful feature is the profit reports feature because this feature will help you know if your mining is profitable or not. The latest version of this software is Bitcoin Miner 1.27.0.

BTCMiner is an Open Source Bitcoin Miner for ZTEX USB-FPGA modules 1.5.

BTCMiner comes with the following features:

• Dynamic frequency scaling in that BTCMiner automatically chooses the frequency with the highest rate of valid hashes
• Ready-to-use Bitstream i.e. no Xilinx software or license required.

It also comes with supported FPGA boards which contain a USB interface used for communication and programming.

CGMiner is arguably the most famous and commonly used among Bitcoin miners at the moment.

CGMiner is based on the original code of CPU Miner.

This software has many features but the main ones include:

• fan speed control
• remote interface capabilities
• self-detection of new blocks with a mini database
• multi GPU support
• CPU mining support

BFGMiner is more or less the same as CGMiner.

The only major difference is that it doesn’t focus on GPUs like CGMiner but instead it is designed specifically for ASICs.

Some unique features of BFGMiner include: mining with free mesa/LLVM OpenCL, ADL device reordering by PCI bus ID, integrated overclocking and fan control.

EasyMiner is GUI based and it acts as a convenient wrapper for CGMiner and BFGMiner software.

This software supports the getwork mining protocol as well as stratum mining protocol. It can also be used for both solo and pooled mining.

Among its main features is that it configures your miner and provides performance graphs for easy visualization of your mining activity.

Bitcoin Mining Software for Linux

CGMiner is arguably the most famous and commonly used among Bitcoin miners at the moment.

CGMiner is based on the original code of CPU Miner.

This software has many features but the main ones include: fan speed control, remote interface capabilities, self-detection of new blocks with a mini database, multi GPU support and CPU mining support.

BFGMiner is more or less the same as CGMiner.

The only major difference is that it doesn’t focus on GPUs like CGMiner but instead it is designed specifically for ASICs.

Some unique features of BFGMiner include: mining with free mesa/LLVM OpenCL, ADL device reordering by PCI bus ID, integrated overclocking and fan control.

EasyMiner is a GUI based software and it acts as a convenient wrapper for CGMiner and BFGMiner software.

This software supports the getwork mining protocol as well as stratum mining protocol. It can also be used for both solo and pooled mining.

Among its main features is that it configures your miner and provides performance graphs for easy visualization of your mining activity.

Bitcoin Mining Software for Mac OS X

RPC Miner can be used on Mac OS 10.6 or higher and features integration with Mac OS APIs and systems.

All of the mining software above listed for Linux and Windows also works for Mac OS X. Scroll up to learn more!

Cash Out your Coins

Once you have this setup and are mining, you may need to cash out some of your coins in order to pay off your expenses such as electricity.

For this you can use Buy Bitcoin Worldwide to find a Bitcoin exchange in your country.

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Bitcoin - die digitale Währung

Die Internet-Währung Bitcoin ist auf dem Weg ins reale Leben: An speziellen Börsen kann man Bitcoins kaufen und verkaufen, diverse Online-Händler und sogar schon erste Läden akzeptieren Bitcoins als Zahlungsmittel. Dass die digitale Währung weder von Regierungen noch von Banken kontrolliert wird, macht für viele den besonderen Reiz aus: Jeder kann sich seine Bitcoins selbst errechnen – Bitcoin-Mining lautet das Zauberwort.

In den letzten Wochen ist der Bitcoin-Kurs geradezu explodiert: Kostete eine Bitcoin Anfang Oktober noch unter 100 Euro, liegt ihr Wert derzeit bei über 600 Euro. Die Aussicht auf schnelles Geld aus dem Netz ist verlockend, aber Bitcoin-Neulinge können schnell auf teure Abwege geraten.

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Mt.Gox und die verschwundenen Bitcoins

Mt.Gox und die verschwundenen Bitcoins

Nach der Insolvenz der bekannten Bitcoin-Börse ist nun offiziell, dass 750.000 Krypto-Münzen von Kunden verschwunden sind. Im Diskussionsforum Reddit wird nun nach dem Verbleib des Geldes gefahndet.

Die insolvente Bitcoin-Börse Mt.Gox hat den Verlust von annähernd 850.000 Bitcoins (368,4 Millionen Euro) bestätigt. Mit 750.000 Münzen stammt der Großteil des vermissten Kryptogeldes von den Kunden der Börse, die weiteren 100.000 Bitcoins gehörten Mt.Gox selbst. Der Handelsplatz war vor einer Woche spurlos aus dem Netz verschwunden.

In der offiziellen Bekanntmachung des Insolvenzverfahrens vor dem Amtsgericht in Tokio heißt es von den Betreibern, man gehe davon aus, dass ein technischer Fehler "im Bitcoin-System" Grund für den Diebstahl der Krypto-Münzen sei. Ob damit die Transaction-Malleability-Schwachstelle gemeint ist, ist nicht klar. Dass diese Schwachstelle eine entscheidende Rolle gespielt hat, wird mittlerweile von vielen Seiten bestritten.

Laut dem auf der Mt.Gox-Webseite veröffentlichten Insolvenzantrag, schuldet die Börse ihren Kunden insgesamt 6,5 Milliarden Yen (46,6 Millionen Euro). Die Firma hat nun eine Hotline eingerichtet, bei der betroffene Kunden Informationen einholen können. Dies scheint eine Standardprozedur in solchen Insolvenzverfahren in Japan zu sein. Die Nummer ist an Werktagen von 02.00 Uhr bis 09.00 Uhr in mitteleuropäischer Zeit zu erreichen.

Laut Bericht von Coindesk strengen Mt. Gox-Kunden auch bereits rechtliche Schritte gegen den Börsen-Chef Mark Karpelès und sein Unternehmen an: Demnach will eine Londoner Kanzlei im Namen von 200 Geschädigten Karpelès vor den Kadi zerren. Unabhängig ist auch den USA bereits schon Klage eingereicht worden.

Angebliche Indizien werden bei Reddit analysiert

Bitcoin, die digitale Währung

Die virtuelle Währung Bitcoin auf dem Weg ins reale Leben: An speziellen Börsen kann man Bitcoins kaufen und verkaufen, diverse Online-Händler und Läden akzeptieren Bitcoins als Zahlungsmittel, erste Bitcoin-Geldautomaten werden aufgestellt.

Im Diskussionsforum Reddit wird momentan an Hand der Blockchain, des globalen Buchhaltungssystems der Kryptowährung, geforscht, wo die gestohlenen Bitcoins von Mt.Gox gelandet sind. Dort ist ebenfalls ein angeblicher Mitschnitt eines Gespräches zwischen Mark Karpelès und Repräsentanten der japanischen Bank Mizuho aufgetaucht. Dieser Mitschnitt soll von Karpelès selbst ins Internet gestellt worden sein.

Die Aufnahme ist auf den 30. Januar datiert und einer Übersetzung auf Reddit zu Folge will Karpelès in dem Gespräch herausfinden, warum die Bank das Konto von Mt.Gox schließen will. Laut der Reddit-Übersetzung erwidern die Mizuho-Vertreter, die Schließung sei unumgänglich. Damit hätte Mt.Gox schon Ende Januar eine seiner wichtigsten Geschäftsverbindungen verloren.

Auch soll Quellcode der Bitcoin-Börse in einem IRC-Chatroom veröffentlicht worden sein. Dies wird ebenfalls auf Reddit diskutiert. Ob der Quellcode echt ist, ist ebenso unklar wie die Glaubwürdigkeit der Gesprächsaufzeichnung. (fab)

A bitcoin client is the end-user software that facilitates private key generation and security, payment sending on behalf of a private key, and optionally provides:

• Useful information about the state of the network and transactions.
• Information related to the private keys under its management.
• Syndication of network events to other peer clients.

This table compares the features of the different clients. All of the listed clients are open-source.

Bitcoin Mining Hardware ASICs

Hobby Bitcoin mining can still be fun and even profitable if you have cheap electricity and get the best and most efficient Bitcoin mining hardware.

It’s important to remember that Bitcoin mining is competitive. It’s not ideal for the average person to mine since China’s cheap electricity has allowed it to dominate the mining market. If you want bitcoins then you are better off buying bitcoins.

Bitcoin Mining Hardware Comparison

What is an ASIC Bitcoin Miner?

Since it’s now impossible to profitably mine Bitcoin with your computer, you’ll need specialized hardware called ASICs.

Here’s what an ASIC miner looks like up close:

The Dragonmint 16T miner.

Originally, Bitcoin’s creator intended for Bitcoin to be mined on CPUs (your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).

Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”. Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with access to low-cost electricity.

Don’t Get Confused

There is Bitcoin mining hardware, which mines bitcoins.

There are also Bitcoin hardware wallets like the Ledger Nano S, which secure bitcoins.

Check Profitability

You can use our calculator below to check the mining hardware above. Input your expected electricity price and the hash rate of the miner for an estimate.

Profitability Factors

The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.

Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate. This has been the average daily increase over the past 6 months.

Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.

The Bitcoin Price

Bitcoin mining is a booming industry, but the Bitcoin price increasing can help make up some of these losses.

The Bitcoin price is increasing at an average of 0.3403% per day over the past year. Try messing with the calculator using different prices.

Know your Competition

It may seem easy to just spin up a miner.

But you NEED to take a look at just how serious mining is.

The video below offers an inside look at one of China’s largest mines.

How to Find the Best Bitcoin Miner

There are some important factors to look at when determining which Bitcoin mining ASIC to buy:

Hash rate – How many hashes per second can the Bitcoin miner make? More hashes cost more, which is why efficiency is crucial.

Efficiency – You’ll want to buy the most efficient bitcoin mining hardware possible. Right now, this is the Halong Mining Dragonmint T1. Since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins.

Price – How much does the bitcoin miner cost? Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more.

Don’t try to buy a miner based on only price or only hash rate. The best ASIC miner is the most efficient bitcoin miner. Aim for value.

Bitcoin Miners for Sale on eBay or Amazon

If you’re a hobby miner who wants to buy a couple rigs for your house, eBay and Amazon both have some decent deals on mining hardware.

Used Bitcoin Mining Hardware for Sale

Both new and used bitcoin mining rigs and ASICs are available on eBay. One may want to buy used ASIC mining hardware on eBay because you can get better prices.

eBay’s customer protection ensures you’ll get a working product. Other bundled equipment may be included with your purchase depending on the seller.

We recommend purchasing the Dragonmint or the Antminer S9.

Just Want Bitcoins?

If you just want bitcoins, mining is NOT the best way to obtain coins.

Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins.

Get $10 worth of free bitcoins when you buy $100 or more at Coinbase.

Hardware Profitability

You can use a bitcoin mining profitability calculator to determine your estimated cost of return on your mining hardware.

Be sure to take electricity costs into account. Most mining hardware appears profitable until electricity costs are accounted for.

Most Efficient Bitcoin Miners

Good Bitcoin mining hardware needs to have a high hash rate. But, efficiency is just as important.

An efficient Bitcoin miner means that you pay less in electricity costs per hash.

To improve your efficiency, there are also companies that will let you order hardware to their warehouse and run the miners for you.

You could also cloud mine bitcoins. But both options are a lot less fun than running your hardware!

Bitcoin Mining Hardware Companies

Halong Mining – Halong Mining is the newest mining hardware company. They have the best miner available. Unfortunately, they already sold out of their first batch but a new batch should be available for sale soon.

Bitmain – Bitmain makes the Antminer line of Bitcoin miners. Bitmain is based in China and also operates a mining pool.

BitFury – BitFury is one of the largest producers of Bitcoin mining hardware and chips. Its hardware is not available for purchase.

Bitcoin Mining Equipment

In addition to a Bitcoin mining ASIC, you’ll need some other Bitcoin mining equipment:

Power Supply – Bitcoin rigs need special power supplies to funnel and use electricity efficiently.

Cooling Fans – Bitcoin hardware can easily overheat and stop working. Buy a sufficient amount of cooling fans to keep your hardware working.

Bitcoin Mining Without Hardware?

It’s still technically possible to mine bitcoins without dedicated mining hardware.

However, you’ll earn less than one penny per month. Mining bitcoins on your computer will do more damage to your computer and won’t earn a profit.

So, it’s not worth it unless you’re just interested to see how the mining process works. You’re best bet is to buy dedicated hardware like the Antminer S7 or Antminer S9.

USB Bitcoin Miners

Using a Bitcoin USB miner with your computer was once a profitable way to mine bitcoins. Today, however, USB miners don’t generate enough hashing power to mine profitably. If you just want to get a Bitcoin miner USB to learn, eBay is a good place to buy a cheap Bitcoin miner.

Halong Mining

The world of crypto was in disbelief when Halong Mining, a new ASIC startup, announced their brand new Dragonmint T16. Halong claimed it to be the most powerful – and efficient – Bitcoin mining ASIC on the market. If they delivered on their promise, Bitmain’s reign as king of ASIC developers would come to an abrupt end.

Unsurprisingly, many prominent members of the Bitcoin community were in disbelief, as cryptocurrency in general has been plagued by fake startups and ICO scams.

In an effort to build trust with their potential buyers, Halong Mining released videos of their ASICs running as advertised. Moreover, they claimed that $30 million dollars was invested in research, development, and prototypes.

Their first batch of Dragonmint T16’s was set for shipment in March of 2018. As the deadline crept up, the world patiently waited for the much anticipated release.

If Halong Mining really did produce the most efficient SHA-256 miner to date, the startup would prove their skeptics wrong and dethrone Bitmain, a company only concerned with their monopoly on the market.

After prominent members of the Bitcoin community doubted Halong’s legitimacy, including Cøbra, the company proved them wrong. Miners shipped as described, and Halong delivered – quite literally – on their promises.

Slush, the creator of Slush Mining Pool and the TREZOR hardware wallet, claimed on Twitter the miners are legitimate. Halong Mining has earned their keep, finally viewed as a reputable company after months of speculation and debate.

Over 100 individuals took part in the development of the chip, including BtcDrak, one of the leading pseudonymous Bitcoin core developers. According to Bitcoin Magazine, BtcDrak remarked:

The project is motivated by, and driven to help facilitate greater decentralisation in Bitcoin mining at all levels, and make SHA-256 great again.

Dragonmint T16 vs. Antminer S9

The Dragonmint T16 was Halong Mining’s first ASIC to hit the market. Boasting 16 TH/s, it is the most powerful ASIC miner. Additionally, the T16 is remarkably power efficient, consuming a mere 0.075J/GH. Moreover, the Dragonmint T16 utilizes ASICBOOST, an exploit of Bitcoin’s algorithm which improves efficiency by 20%.

Compared to Bitmain’s Antminer S9, which consumes 0.098J/GH, the Dragonmint T16 is not only more powerful, but more efficient as well. The difference in power consumption seems small. However, when mining on a large scale, every bit of saved electricity counts.

What do you get when you combine power and efficiency? An incredibly profitable ASIC! The T16 is 30% more efficient than its competition.

Note that is appears profitable even with high electricity costs ($0.12 per KW/h). With $0.03 / KW/h it’s even more profitable:

The T16’s new DM8575 chip design is largely responsible for the ASIC’s notable improvements over Bitmain’s S9.

Although the Antminer S9 still yields a decent mining profit, it is no match for Halong Mining’s newest chip, the Dragonmint T16. Hashrate and power consumption are the primary factors in mining profitability, next to electricity cost – Halong Mining’s Dragonmint T16 is clearly superior to Bitmain’s best ASIC miner.

ASICs’ Impact on Cryptocurrency

Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central authority and gives it to the average person. Sensitive information is stored on the blockchain rather than large data centers, and is cryptographically secured. A vast amount of people, known as miners, all work together to validate the network, instead of just one person or government.

In the beginning, CPUs were used to solve cryptographic hash functions, until miners discovered that GPUs were far better equipped for mining. As block difficulty increased, miners turned primarily to GPUs.

Eventually, technology was developed solely for mining, known as ASICs, or Application Specific Integrated Circuits. Their hashrates are significantly higher than anything GPUs are capable of.

With stellar performance comes a high price tag – the best ASIC chips will run you a few thousand dollars each. Upon creation, Bitcoin blocks were confirmed by the average person using their desktop – once ASICs hit the market, things changed.

ASICs rendered GPUs useless. ASIC developers, including Bitmain, granted early access to large mining cartels rather than the average person. Nowadays, a large majority of Bitcoin mining takes place in China where electricity is cheap.

Thousands of ASICs all mine simultaneously in a mining farm (large warehouse). Evidently, most people can’t afford just one or two of ASICs, not to mention thousands of them.

When ASICs hit the market, the blockchain’s validation process became more centralized than decentralized, as the majority of validation is done by a single mining company, rather than being spread out amongst many miners. Unfortunately, Bitcoin is no longer as decentralized as it was once intended to be.

Collapse of Mt. Gox

Mt. Gox halted withdrawals on 7 February 2014 due to insolvency [1] after an apparently undetected theft that had been occurring since 2011. The company said it was pausing withdrawal requests “to obtain a clear technical view of the currency processes”. [1] Mt. Gox would also suspend trading on 24 February. Bitcoins amounting to a half billion US dollars at the time of the event had been missing, making it the largest-ever bitcoin loss by USD value.

Withdrawals delayed or refused

Wired Magazine reported in November 2013 that customers were experiencing delays of weeks to months in withdrawing funds from their accounts. [2] The article said that the company had “effectively been frozen out of the U.S. banking system because of its regulatory problems”. Customer complaints about long delays were mounting as of February 2014, with more than 3300 posts in a thread about the topic on the BitcoinTalk online forum. [3]

Mt. Gox issued a press release on 10 February stating that withdrawals were completely halted due to transaction malleability: “A bug in the bitcoin software makes it possible for someone to use the Bitcoin network to alter transaction details to make it seem like a sending of bitcoins to a bitcoin wallet did not occur when in fact it did occur. Since the transaction appears as if it has not proceeded correctly, the bitcoins may be resent. Mt. Gox is working with the Bitcoin core development team and others to mitigate this issue.” [4] [5] [clarification needed] On 17 February, with all Mt. Gox withdrawals still halted and competing exchanges back in full operation after the transaction malleability scare, the company published another press release indicating the steps they claim they are taking to address security issues. [6] In an email interview with the Wall Street Journal, CEO Mark Karpelès refused to comment on increasing concerns among customers about the financial status of the exchange, did not give a definite date on which withdrawals would be resumed, writing that the exchange would impose "new daily and monthly limits" on withdrawals if and when they were resumed. [7] A poll of 3000 Mt. Gox customers by CoinDesk indicated that 68% of customers were still awaiting funds from Mt. Gox. The median waiting time was between one to three months. 21% of poll respondents had been waiting for three months or more. [8]

Citing "security concerns", Mt. Gox announced they had moved their offices to a different location in Shibuya. Bitcoin prices quoted by Mt. Gox dropped below 20% of the prices on other exchanges, reflecting the market's estimate of the unlikelihood of Mt. Gox ever paying their customers. [10] [11]

On 23 February, Karpelès resigned from the board of the Bitcoin Foundation, [12] and all posts on the Mt. Gox Twitter account were removed. [13] The exchange suspended all trading the following day. Hours after trading halted, the website went offline, returning a blank page. [14] [15] [16] An alleged leaked internal crisis management document claimed that the company was insolvent, after losing 744,408 bitcoins in a theft which went undetected for years. [14] [15] [17] [18] Six other major bitcoin exchanges released a joint statement distancing themselves from Mt. Gox shortly before Mt. Gox's website went offline. [19] [20]

On 25 February, Mt. Gox reported on its website that a "decision was taken to close all transactions for the time being", citing "recent news reports and the potential repercussions on MtGox's operations". Karpelès told Reuters that Mt. Gox was "at a turning point". [21] [22] [23] [24]

On 28 February Mt. Gox filed for bankruptcy protection in Tokyo, reporting that it had liabilities of about 6.5 billion Japanese yen ($64 million at the time), and 3.84 billion yen in assets. [25] [26] The company said they had lost almost 750,000 of its customers' bitcoins, and around 100,000 of its own bitcoins, totaling around 7% of all bitcoins, and worth around $473 million near the time of the filing. [25] [26] Mt. Gox released a statement saying "The company believes there is a high possibility that the [bitcoins] were stolen,” [27] blaming hackers, [28] inciting a search for the missing money. Karpelès said technical issues opened up the way for fraudulent withdrawals. Mt. Gox also faces lawsuits from its customers. [29] [30] On 9 March, Mt. Gox filed for bankruptcy protection in the US, to temporarily halt U.S. legal action by traders who alleged the operation was a fraud. [31] [32] [33]

On 20 March, Mt. Gox reported on its website that it recovered some bitcoins — worth around $116 million — in an old digital wallet from 2011. That brings the total number of bitcoins the firm lost down to 650,000 from 850,000. [34] On 14 April, Mt. Gox lawyers said that Karpelès wouldn't appear for a deposition in a Dallas court, or heed a subpoena by FinCEN. [28] On 16 April, Mt. Gox gave up its plan to rebuild under bankruptcy protection, and asked a Tokyo court to allow it to be liquidated. [35]

Investigation

Private investigators have looked to the block chain for evidence and synopsis of the theft.

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Bitcoin Mining Software Guide

While the actual process of Bitcoin mining is handled by the Bitcoin mining hardware itself, special Bitcoin mining software is needed to connect your Bitcoin miners to the blockchain and your Bitcoin mining pool as well, if you are part of a Bitcoin mining pool.

The software delivers the work to the miners and receives the completed work from the miners and relays that information back to the blockchain and your mining pool. The best Bitcoin mining software can run on almost any operating system, such as OSX, Windows, Linux, and has even been ported to work on a Raspberry Pi with some modifications for drivers depending on your mining setup.

Not only does the Bitcoin mining software relay the input and output of your Bitcoin miners to the blockchain, but it also monitors them and displays general statistics such as the temperature, hashrate, fan speed, and average speed of the Bitcoin miner.

There are a few different types of Bitcoin mining software out there and each have their own advantages and disadvantages, so be sure to read up on the various mining software out there.

Network Consensus

If you solo-mine, meaning you do not mine with a Bitcoin mining pool, then you will need to ensure that you are in consensus with the Bitcoin network. The best way is to use the official BitCore client.

If you participate in a Bitcoin mining pool then you will want to ensure that they are engaging in behavior that is in agreement with your philosophy towards Bitcoin.

How much bandwidth does Bitcoin mining take? If you are mining with a pool then the amount should be negligible with about 10MB/day. However, what you do need is exceptional connectivity so that you get any updates on the work as fast as possible.

For example, some rogue developers have threatened to release software that could hard-fork the network which would likely result in tremendous financial damage.

Therefore, it is your duty to make sure that any Bitcoin mining power you direct to a mining pool does not attempt to enforce network consensus rules you disagree with.

Bitcoin Wallet Software

The whole point of mining bitcoins is to earn them!

But once you earn them then where do you keep them safe and secure? For a Bitcoin wallet we highly recommend using one where you hold your own private keys in contrast to to a hosted wallet like Coinbase or Circle.

• Breadwallet - easy to use mobile Bitcoin wallet
• Copay - easy to use mobile Bitcoin wallet
• Armory - highly secure desktop Bitcoin wallet

You will also need to be able to buy and sell your Bitcoins.

Once mined Bitcoin becomes like a currency that can be purchased, used in transactions or even traded like with this Bitcoin trading platform.

For this we recommend:

• Kraken - The largest European exchange with same-day SEPA
• Local Bitcoins - This fantastic service allows you to search for people in your community willing to sell bitcoins to you directly. But be careful!

Examples of the best Bitcoin mining software for Windows, Linux and Mac OSX:

EasyMiner: A GUI based miner for Windows, Linux and Android. EasyMiner acts as a convenient wrapper for the built in CG; BFGminer softwares. It auto configures your Bitcoin miners and provides performance graphs to for easy visualization of your Bitcoin mining activity.

BFGMiner: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.

CGMiner: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.

Additional Free Bitcoin Mining Applications

EasyMiner: A GUI based miner for Windows, Linux and Android. EasyMiner acts as a convenient wrapper for the built in CG; BFGminer softwares. It auto configures your Bitcoin miners and provides performance graphs to for easy visualization of your Bitcoin mining activity.

BFGMiner: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.

CGMiner: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.

50Miner: A GUI frontend for Windows (Poclbm, Phoenix, DiabloMiner).

BTCMiner: Bitcoin Miner for ZTEX FPGA Boards

BitMoose: Run Miners as a Windows Service.

Poclbm: Python/OpenCL GPU miner (GUI (Windows and MacOS X))

Poclbm-mod: more efficient version of Poclbm (GUI)

Phoenix miner: Released in 2011. Free and open source.

CPU Miner: Mining software for solo or pooled mining.

Ufasoft Miner: CPU/GPU miner for Windows pooled mining.

Pyminer: Released in 2011. CPU mining client.

Remote Miner: Open source Bitcoin miner for pooled mining. Works with RPC Miner.

Open Source FPGA Bitcoin Miner: Released in 2011. Makes use of a compatible FPGA Board. Can be used to mine in a pool or solo.

Best Bitcoin Mining Software Windows

EasyMiner: A GUI based miner for Windows, Linux and Android. EasyMiner acts as a convenient wrapper for the built in CG; BFGminer softwares. It auto configures your Bitcoin miners and provides performance graphs to for easy visualization of your Bitcoin mining activity.

BFGMiner: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.

CGMiner: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.

50Miner: A GUI frontend for Windows (Poclbm, Phoenix, DiabloMiner).

BitMoose: Run Miners as a Windows Service.

Poclbm: Python/OpenCL GPU miner (GUI (Windows and MacOS X))

Poclbm-mod: more efficient version of Poclbm (GUI)

CPU Miner: Mining software for solo or pooled mining.

Ufasoft Miner: CPU/GPU miner for Windows pooled mining.

Best Bitcoin Mining Software Mac OSX

EasyMiner: A GUI based miner for Windows, Linux and Android. EasyMiner acts as a convenient wrapper for the built in CG; BFGminer softwares. It auto configures your Bitcoin miners and provides performance graphs to for easy visualization of your Bitcoin mining activity.

BFGMiner: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.

CGMiner: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.

Poclbm: Python/OpenCL GPU miner (GUI (Windows and MacOS X))

Poclbm-mod: more efficient version of Poclbm (GUI)

ASIC Bitcoin Mining Software

BFGMiner: A modular ASIC, FPGA, GPU and CPU miner written in C, cross platform for Linux, Mac, and Windows including support for OpenWrt-capable routers.

CGMiner: This is a multi-threaded multi-pool GPU, FPGA and ASIC miner with ATI GPU monitoring, (over)clocking and fanspeed support for bitcoin and derivative coins.

Bitcoin Cloud Mining Software

Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.

Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.

Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.

Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.

Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.

Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.

Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.

Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.

NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.

Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.

MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.

TRANSCRIPT - Do it yourself with Bitcoin mining software

What's going on every one? This is Fredand this Part 2 of our DIY Bitcoin Miner. Today, we're going to take a look at software.

Okay, so the first thing that you need to do before you could start Bitcoin mining is to sign up for a Bitcoin wallet. Now there’s a lot of wallets that you could choose from but I prefer Circle. Now let’s head over and set up an account. All you have to do is enter in your email and choose a password.

Once you log in to your account you will see a summary of your Bitcoin balance and transactions. But before you can receive any Bitcoins you need to set up a Bitcoin address. You could do so by clicking account settings.

Once you are on the account settings page go ahead and click Bitcoin Addresses. From there click Create New Address. This generates a long string of numbers and letters. This is the address that we will need to enter into our mining pool. So let's take a look at that now.

There are many mining pools that you can choose from, but I prefer BitMinter as my primary pool and Slush’s pool as my backup. Just create an account whichever one you choose and log in. Your account details page will normally have an auto cash out option.

This is where we will enter in our wallet address that we created earlier. When you have mined enough Bitcoins to meet the threshold it would automatically be transferred to your Bitcoin wallet.

Next, go up top to the My Account drop down and select Workers. This worker information is what you need to input into the mining software so that you get credit for the work that is done. You do not need to secure this information with a difficult username or password because anyone that uses this information will be giving you credit.

Now let's take a look at setting up the mining software. As mentioned in Part 1 of the series we'll be using the MinePeon operating system. This can be downloaded from sourceforge.net.

Now this is the image that we will need to write onto our SD card. Another software that we need to download is called the Win32 Disk Imager. This can also be found on sourceforge.net. This is the software that we will use to write the MinePeon image onto our SD card.

Once you have downloaded both files insert your SD card into your computer. Then open up Win32 Disk Imager. Simply select the location of your MinePeon image then select the correct drive for your SD card. All you have to do now is click write. This will write the MinePeon image on to your SD card. Insert the SD card into your Raspberry Pi as shown on Part 1 of the series then power up the unit.

Now sign in to MinePeon by typing in the network IP address into your browser. The easiest way to find this IP address is by logging in to your router and looking for the device called MinePeon. You will then be prompted to enter in your MinePeon's username and password. The default setting for this is MinePeon for the username, peon for the password. You will see a security warning but do not be alarmed. This is perfectly normal so proceed anyways. You will then be asked to re-enter the username and password.

So again, MinePeon is the username peon is the password. You are now finally in MinePeon's dashboard. This is where you can monitor the performance of your mining rig. Head up top and click pools. This page allows you to set up your mining pools. As you can see I have BitMinter as my primary pool and Slush’s pool as my secondary. Just enter in the URL of your mining pool, the username and password if you have one.

Then go ahead and submit your settings. You may need to reboot MinePeon after any changes. Great job every one. You are now officially mining for Bitcoins.

All right, so that should be everything that you need to start Bitcoin mining.

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