How to Mine (BTC) Bitcoin 2014

To mine Bitcoin is exciting and dangerous, to mine Altcoins is fun and not as dangerous, but still scary at times!

Bitcoin mining is a business that has become very competitive and expensive to get involved in.

Hard Truth - About bitcoin mining.

Mining for Fun - a Hobby and don't care if you make a profit or just make a little profit.

Mining for Profit - if you can do it very efficiently with a large investment to chase after a profit.

Speculative Mining - using DCM and inexpensive miners - mining beta coins and alt coins in the hope to grab a bunch before everyone else realize that they have value.

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Mining - Processing

Mining is a distributed peer to peer network that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions must be packed in a block that fits very strict cryptographic rules that will be verified by the network. These rules prevent previous blocks from being modified because doing so would invalidate all following blocks. Mining also creates the equivalent of a competitive lottery that prevents any individual from easily adding new blocks consecutively in the block chain. This way, no individuals can control what is included in the block chain or replace parts of the block chain to roll back their own spends.

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The most effective way to try your luck at Bitcoin Mining in 2014.

ASIC Miner Setup:

Choose: Web Hosted (ZenMiner Cloud) or Home / Work Solution.

ZenMiner Cloud:

  1. Purchase good quality ASIC Miner SHA-256 (Not - Scrypt)BTC Bitcoin Miner that works!, - try a ANTMINER: 441+ GH/s or if your are serious about trying make money: YUKON Batch 1.
  2. Alternative: Hashlet DCM Mining - They are the newest profitible way to miny for BTC coins. - Check them out - Hashlet Mining for bitcoin.
  3. Note: Scrypt mining is for ALTCoins such as LTC light coin which is more reasonable to mine in 2014, not BTC Bitcoin Mining.
  4. Wait for Cloud setup usually 24 hrs
  5. Sign into website site: https://www.zenminer.com/ and choose "ZenMiner Cloud Login"
  6. Pick pool that meets your needs.

 

Notice:  A higher end ASIC Miner SHA-256 - usually can not mine Scrypt - so you will be limited to older coins such as (BTC) Bitcoins and others.

Keep your eye on your ROI:

Return on Investment:  cost of miner, cost of hosting compared to how many coins you can mine each month.

Plus - every year faster equipment that uses less electricity will come out.

Your profit in the pool is how many shares of the coin found you contribute to the pool during the mining of it.

The faster your miner rig (more Hashes) the more shares you get within the pool.

It is very easy to get excited about mining and purchase lots of equipment. When only for months later others now have even faster equipment and your costs to compete exceed your ablity to mine coins (ROI). So be careful out there - do not loose your pants chasing for bitcoins.

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BitcoinMiner-DCM-Hashlet

Digital Cloud Mining (DCM)

Effective, Energy Efficient, and Inexpensive

The future of bitcoin mining is here!

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How to Mine LTC Altcoin - step by step guide 2014

1. Signup for a Free Lightcoin Wallet (LTC) - click here Litcoin.org

2. Join us at: LTC Rabbit - create a free account to Mine (LTC) Light Coin.

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3. Choose  a miner:

Computer with high end Video Card (Nvidia)

Computer with high end Video Card (AMD)

Computer Server with multiple CPUs

 

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ASIC Miner Setup:

Choose: Web Hosted (ZenMiner Cloud) or Home / Work Solution.

ZenMiner Cloud:

  1. Purchase good quality ASIC Miner (Scrypt).
  2. Wait for Cloud setup usually 24 hrs
  3. Sign into website site: https://www.zenminer.com/ and choose "ZenMiner Cloud Login"
  4. Pick pool that meets your needs.

ZenContoller at Home / Work:

  1. Purchase good quality ASIC Miner (Scrypt).
  2. Once delivered to you - unpack and check for missing items.
  3. Purchase power supply at least 850watt CPU power supply from local IT store with easy return policy.
  4. Take paperclip and short out correct pins to activiate the power supply- see here - follow at own risk!.
  5. Attach Miner or other computer device like DVD and Test to see if power supply will turn ON / OFF with power button - then turn OFF.
  6. Attach correct power supply plugs - look at miner info that you purchased.
  7. (Note: When you test power supply - it will not stay on if it does not have a device 5v or higher connected to it.)
  8. Attach Zen contoller with usb cable from zen controller to miner.
  9. Attach network cable from internet modem/router to zen controller.
  10. Attach memory card to Zen controller (if not installed).
  11. Attach Zen controll power supply and check for activity.
  12. Turn ON power supply with on/off switch
  13. Watch carefully for 1st few hours to be sure the power supply does not over heat / catch on fire / other scare stuff.
  14. Miner will run a little warm, power supply will run a bit warmer - be in cool room.
  15. YES - it is loud depending on how many your have and size of units.

Setup Miner - go to: https://www.zenminer.com/ and choose "ZenController Login"

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Choose "Change Hardware" and choose correct hardware Miner that you purchased.

Next

Choose "Pools" from right side menu bar

Click + sign if needed and add your pool information.

NickName: LTC Rabbit

URL: scrypt.ltcrabbit.com:3337

Worker: "your worker name"  example: omegamagnus.BW1

Password: "password for worker"

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Heating Check: If it continues to run for 24hrs without heating problems you are good to go.

 

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LTC Rabbit - Scrypt Pool Settings for ASIC Miner

Enter one of our scrypt stratum server to your ASIC miner interface

scrypt.ltcrabbit.com:3335 (1028 fixed difficulty, ASICs)
scrypt.ltcrabbit.com:3336 (2048 fixed difficulty, ASICs)
scrypt.ltcrabbit.com:3337 (4096 fixed difficulty, ASICs)
scrypt.ltcrabbit.com:3338 (8192 fixed difficulty, ASICs)
scrypt.ltcrabbit.com:3333 (128-8192 variable difficulty)
lowdiff.ltcrabbit.com:80 (16 fixed difficulty, cpuminer/behind firewall)

Username: YourLoginUsername.WorkerName
Password: WorkerPassword

 

 

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