Learn All About Free Bitcoin Mining
Before going to main topic about free bitcoin mining lest jump to know what is bitcoin? and what is bitcoin mining?
What is Bitcoin:
According to investopedia, Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a whitepaper by the mysterious and pseudonymous developer Satoshi Nakamoto, Satoshi Nakamoto true identity has yet to be verified. Bitcoin provides the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
Bitcoins are not physicaly present, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of technology called computing power. Here must note that bitcoins are not issued or backed by any banks or governments authorities, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of hundreds of other virtual currencies collectively referred to as Altcoins.
What is Bitcoin Mining?
Bitcoin, digital currency or cryptocurrency is only the lines of a computer code that have certain monetary value. It is a form of digital money created by mathematical calculations and controlled by millions of computer users known as miners, but it has no physical form.
Bitcoin adds all transaction records to the transaction ledger at daily regular intervals. In the process of appending, it is required to completely record the transaction ledger data distributed and stored on the network and the data of all transactions that occurred during the appending period. .
In order to achieve this consistency can be achieved by mathematical computer calculations, but it requires a huge amount of calculation. Both the data of one large transaction ledger that is stored in a distributed manner and the data of the transaction to be added must be accurately verified before being added.
Therefore, Bitcoin borrows volunteer computer resources for this additional work. By borrowing the computing power of the surplus computer, it is doing huge calculations and appending to one large transaction ledger shared by everyone.
Bitcoin will be paid in return for those who helped with this appending work, those who performed a huge amount of calculation processing for the appending work, and succeeded in the appending process as a result. In other words, Bitcoin is paid as a reward for helping with the appending work so that the entire Bitcoin can be operated in a sound manner.
How Free Bitcoin Mining?
Bitcoin mining There are two basic ways of mining Bitcoin nowadays: • one way (internal mining) suggests having individual computer equipment or collective clusters also known as pools; • the other way (external mining) is the cloud mining that makes use of leased hashing power. These are not two different methods, but only two parallel directions. Their main principles are the same, and they are regulated by the Bitcoin hashing algorithm.
We know that bitcoin mining is necessary to the performance of the Bitcoin network. Mining processes transactions on the blockchain and generates new coins. At its infancy, it was possible to mine bitcoin using a PC, and there were many early adopters who mined bitcoin using PC or laptops. As the mining hardness has increased substantially over the years, bitcoin miners are now necessary to use specialised hardware as well as bitcoin mining software to mine on the Bitcoin blockchain.
Talking of the first type, internal mining: Theoretically, anyone can mine Bitcoins as long as they have a powerful computer. In this case, the computer should work around the clock on intensive computation tasks. Every task has a set of possible 64-bit solutions. However, with an average consumer-class PC you are going to spend more on electricity than you can earn in bitcoins. Nowadays, Bitcoin mining is rarely about using one device, but more and more cryptocurrency is produced in pools.
Following are the some free Bitcoin Mining Software Reviews:
CGMiner – Free Bitcoin Mining Software
CGMiner This one is probably the most well-known and popular tool for today’s miners. It’s based on CPU Miner source code. This software has lots of functions, such as controlling fan speed, remote management, self-detection of small database blocks, and multi-GPU support. Such programs are controlled via the Command Prompt: • Start the program • and enter the URL address of the pool you are using into the field. Before doing that, you should sign up to a pool you have selected for mining.
CGMiner is the popular and extensive free bitcoin mining software available. It is an open-source ASIC/FPGA mining software solution that supports different operating systems like Windows, Linux, and Mac OS X.
CGMiner includes overclocking, monitoring, fan speed control and remote interface capabilities. His other features include self detection of new blocks with a mini-database, binary loading of kernels, multi GPU support and CPU mining support.
Miner CGMiner is designed to work with graphics cards from AMD. Since he does not know how to extract currency using CUDA technology. If you own a PC or a farm with NVIDIA graphics cards, it is better to use Claymore’s Dual Miner.
Of the interesting features of this program it is worth noting the availability of tools for overclocking the GPU and even to control the speed of the coolers. It is recommended to use them very carefully.
CGMiner Features
- Local generation of valid work (via stratum, GBT or ntime rollover) whenever possible, as supported on a perwork item basis.
- Very low overhead free c code for Linux and windows with very low nonmining CPU mining and ram usage.
- Stratum and GBT pooled mining protocol support, including ultra low overhead solo mining.
- Scaleable networking scheduler designed to scale to any size hashrate without networking delays yet minimise connection overhead
- long poll support will use longpoll from any pool if primary pool does not support it.
- Prevention of stale work submission on new block.
- Self detection of new blocks with a minidatabase for slow/failing longpoll scenarios, maximum work efficiency and minimum rejects.
- Heavily threaded code hands out work retrieval and work submission to separate threads to not hinder devices working.
- Caching of submissions during transient network outages.
- Preemptive fetching of work prior to completion of current work.
EasyMiner – Open Source and Free Bitcoin Mining Software
EasyMiner is an free and open source solution. It has GUI(Grafical User Interface). It has mostly a graphical frontend for mining Bitcoin ,Litecoin,Dogeecoin and other various altcoins by providing a handy way to perform cryptocurrency mining using a graphical interface.
It also supported both AMD and NVIDIA GPUs, and also CPU mining. You are able to select from pooled mining and solo mining – the software program embeds some mining pools to choose from. EasyMiner automatically enforces SSE2, AVX and AVX2 instructions where available.
EasyMiner Features:
- supports the getwork mining protocol.
- stratum enabled.
- cpu miner included.
- cgminer included.
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BFGMiner – Free Bitcoin Mining Software:
BFGMiner BFGMiner is the option for people who value reliability and convenience. The advantages include mining with FPGA and using graphics card power.
BFGMiner is a modular ASIC/FPGA miner written in C, featuring dynamic clocking, monitoring, and remote interface capabilities. This bitcoin mining software differs from its predecessor by the fact it utilises the newer get block template vs the former get work template. This is a decentralization change, where initially blocks were created by the pool, they are now being created by the miner.
BFGMiner Features
- Butterfly Labs’s BitForce SC (ASIC) product line.
- Avalon ASIC mining rig.
- Butterfly Labs’s FPGA BitForce Singles and MiniRigs.
- Enterpoint’s Cairnsmore1 FPGA mining board.
- FPGA Mining X6500.
- Qi Hardware’s Icarus and Lancelot FPGA mining boards.
- BTCFPGA’s ModMiner Quad FPGA-based mining device.
- Ztex’s FPGA boards.
- OpenCL GPUs, such as AMD Radeons.
- Kernels (including BFI_INT patching): Diablo, DiaKGCN, Phatk and poclbm.
- VECTOR support.
- Dynamic intensity that keeps desktop interactive under load and maximises throughput when desktop idle.
- Integrated overclocking and fan control (including automatic adjustment, if configured).
- ADL device reordering by PCI bus ID.
- GCN (79×0) support.
- CPU (not enabled by default nor included in Windows build).
