Bitcoin Mining Pool Bitcoin.com

To help you get started on bitcoins...

Sup fellow reddit members!
Today I'm here to give you guys a long introduction about bitcoins.
Intro to bitcoins:
Bitcoins are the first decentralized digital currency.
Bitcoins are basically digital coins that you can send through the internet.
Some advantages of bitcoins:
  1. It can be transfered through other people without a bank having involved in the transaction.
  2. The transaction fees are much lower.
  3. You can use them in any and every country.
  4. Your account (explained later) can never be frozen.
  5. No limits!
How it works:
There are several online bitcoin currency exchange where you can exchange bitcoins for money and vice versa.
Bitcoins are kept in a digital wallet on your computemobile device. coinbase.com is one of the most trustworthy online bitcoin wallet, IMO.
Sending bitcoins is as simple as sending an email, and you can purchase ANYTHING with bitcoins as long as they accept the currency.
The bitcoin software is completely open-sourced, so anyone can review the code.
Bitcoins are easy + free to setup, and there are no chargebacks!
How to obtain bitcoins:
There are two ways to obtain bitcoins:
  1. Buying them from exchanges/privately. The one that I trust the most is http://www.bitstamp.net.
  2. Mining them using applications. Miners solve math problems/bitcoin algorithms (which takes computing power) and are rewarded bitcoins for doing that. This is the one that I'm going to focus on, as it is pretty hard to grasp.
Mining bitcoins:
Using special software application, you are able to mine bitcoins. Mining means to solve math problems/bitcoin algorithms using your computing power.
Blocks are a chunk of 25 bitcoins, and if you solve one math problem you automatically get a block.
The speed of mining bitcoins is measured in Hashes/Second (KH/s, MH/s, GH/s, TH/s etc.)
The difficulty of the problems gradually increases as more bitcoins are found. Now, it is almost impossible to find bitcoin blocks by yourself, as more than 10 million bitcoins have been mined.
Using special hardware (ASIC, Application-Specific Integrated Circuit chips) that specifically is aimed to mine bitcoins increases your mining speed by a lot. You can buy these hardware anywhere online/offline. amazon.com has many ASIC hardware on sale.
But even ASIC mining can still take a long time to find a block by yourself. That's how the pooled mining began.
Pooled mining basically combines the work of many miners toward a common goal. Pool of miners find the solution of the math problems faster than individuals, and they share the block equally based on each miner's hash rate.
There are many pools right now that are pretty trustworthy, but that one that I use is triple mining: http://evilbeans124.triplemining.com
Mining bitcoins on a Mac:
This part is only dedicated on mining bitcoins for Mac users. If you're a PC user or a Linux/Ubuntu user, skip this.
  1. Go to asteroidapp.com and download the latest version of Asteroid
  2. Open Asteroid
  3. Under Mining Pool, select TripleMining
  4. Hide the application, go to whatever browser you use, and go to http://evilbeans124.triplemining.com
  5. Register for an account
  6. Under the workers tab, add a new worker (on the right side)
  7. Go back to Asteroid, and fill in your worker username + password.
  8. Start mining
  9. You're done
Mining bitcoins on a PC:
This part is only dedicated on mining bitcoins for PC users. If you're a Mac user, view above. If you're a Linux/Ubuntu user, skip this.
  1. Go to https://bitcointalk.org/?topic=3878.0 and download the latest version of GUI miner
  2. Open GUI miner
  3. Select Triplemining for the server
  4. Hide the application, go to whatever browser you use, and go to http://evilbeans124.triplemining.com
  5. Register for an account
  6. Under the workers tab, add a new worker (on the right side)
  7. Go back to GUI miner, enter in your worker username/password
  8. If you have any hardware, then select them in the device tab. If not, skip this step
  9. Start mining
  10. You're done
Mining bitcoins on a Ubuntu/Linux:
This part is only dedicated on mining bitcoins for Linux/Ubuntu users. If you're a Mac or PC user, view above.
Unfortunately, I have no experience in how to install any miner on Linux. The following website does however, so just follow it
http://www.distrogeeks.com/install-cgminer-3-7-2-ubuntu/
The end
I think I covered most of the points on bitcoins. However, if there is any mistakes/stuff that I should add, please put a comment below or PM me! It will be greatly valued!
I spent sometime doing this, so some donation will be very appreciated. My bitcoin address is on my signature.
Credits to bitcoin.com, bitcoinmining.com, triplemining.com/help, http://www.distrogeeks.com/install-cgminer-3-7-2-ubuntu/
Helpful? Considering mining in my pool: http://evilbeans124.triplemining.com (PM me if you STILL don't know how to mine bitcoins) Tip me at: http://evilbeans124.tip.me
submitted by evilbeans124 to Bitcoin [link] [comments]

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setting up bitcoin with GUI miner [updated]

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