You might have noticed the term Bitcoin mining USB circling around the internet for quite a while and some of you might know what it is and some might have no idea. To know what exactly this Bitcoin mining USB is, we first have to understand some basic concepts like what is Bitcoin?. In simple term Bitcoin is digital currency. Unlike your regular currency, here in Bitcoin there is no one to control the money. No central authority to regulate and print the money. It was created by software developer Satoshi Nakamoto in 2008.To access the money each user is given a private key. If you by any means loose the private key then you won’t have any claim to your coins and they become unusable. Just like any bank even in Bitcoin there is a record keeping service and it is called mining.
In Bitcoin the mining process adds new records of transaction to a public ledger and also produces new Bitcoins. Let us see the various steps involved in Bitcoin mining. Do you know how at the end of a gold mining you get gold, Bitcoin is exactly similar to that.
The process starts with grouping all the transactions in a block and verifying if all the transactions are valid. Then it selects the most recent block and inserts it into the new block as a Hash (Hashes are large number and are written in hexadecimal form).Then it solves the Proof of work problem where it checks whether the trivial data satisfies the given requirements. The solution is then added to the new blockchain and Bitcoins are rewarded.
This process is done by Bitcoin miners. The main purpose of Bitcoin miners is to approve the transactions to make sure the Bitcoin network is safe and secure. These Bitcoin miners are hardware devices which uses a series of steps to complete the mining process. Some of the renowned Bitcoin miners are
- AntMiner S7
- SP20 Jackson
- Bitmain AntMiner S3
- Many More..
Best Bitcoin Mining USB Devices
But as more and more people became familiar with Bitcoin, there was a need for a more portable Bitcoin miner which would be user friendly hence the Bitcoin mining USB came into action. These are basically the same as previous Bitcoin miners except these come in a USB. There are a variety of Bitcoin mining USB devices but most popular are
- AntMiner U2
- BPMC Red Fury
- HexFury ASIC USB
- Avalon USB Nano3
These mining USBs are small, portable but very powerful mining tools. To use these USBs to their full extent you might need powerful computer hardware. The results of a Bitcoin mining is directly proportional to the speed of your computer.
How to Use USB Bitcoin Miner
Now let us see how we can mine Bitcoins and let’s see what all problems that occur during mining. Let us see how to use a USB based Bitcoin miner.
The first step would be to join a pool. A pool is basically a colony of miners. Joining several pools would be beneficiary as if one pool goes offline you can just shift to another. A pool will ensure you small Bitcoin with a steady flow.
Then next you have to download and install CGMiner and USB to UART bridge VCP driver.
Then connect you USB Miner to your computer device using USB port. In windows, go to your control panel and copy the COM numbers for each device.
Launch the CGMiner. The window which will open should be kept open or minimized while mining. It is very simple but there are many complications too. For example the mining process takes up a lot of electricity. As said above the mining process also depends on your processor. If you have a slow processor then the mining process would take a hell lot of time which will considerably increase your electricity bill.
Another problem is that the USB gets heated quickly. But this problem seems quite minor when you take into consideration the work this USB gets done. At this present technology mining at home is merely for the purpose of learning more about it than extracting money. The amount of money earned from this is very little but would increase if you have access to free electricity.
Incoming search terms:
- BPMC Red Fury USB