So a miner is used to process millions of numbers in an effort to match the hash to guess the original number. A hash is an algorithm of converting numbers and letters into an undecryptable set of characters. The number of hashes a second that can be calculated the better. Current mining speed, typically calculated in megahashes or gigahashes. That’s a lot of numbers, so I’ll make some of them a bit clearer.
Finally, the password that was set when you created the worker. The username section is composed of two parts, the username that you use to login to the pool, and worker which is the worker name you gave when you registered the worker. bfgminer -o :3333 -O username.worker:password -S all To do this, providing you're using Slush’s pool, you’ll use the following command: Now you're ready to set your Raspberry Pi mining for Bitcoin. Whilst you are on My Accountclick Register New Worker and give it a name, for example worker, and a password. Within your pool account you have the ability to create something called a worker for each of your bitcoin miners, so you're able to monitor them all separately just in case one should fail.Įach worker has its own login name and password. Next step is to create a worker login account. Once you have created a pool account, you'll need to enter your unique wallet address into the Bitcoin payout address. There are many pools around, in this tutorial I’ll be using one called Slush’s pool:
Working as a group, or pool, lets everyone have a chance of earning some Bitcoin.
Due to the complexity of mining a bitcoin, it has become unrealistic to solo mine–the act of processing millions of numbers to solve the block problem. A pool is a huge collection of other people working towards gaining bitcoins. If you lose this file, you cannot recover any bitcoins it contained.Ĭreate a Pool Account Once you have a wallet address, create a pool account.
Download the client for your computer from Īfter installation, you will have to save a file called wallet.dat, keep this file safe, as this contains your unique wallet address within it, including all bitcoins that you will gain. A wallet is a program that sits on your computer and gives you a wallet address, this is a unique string of numbers and letters that you will use to receive bitcoins.