Cryptocurrency or also known as Bitcoin has become very popular in Indonesia. Many people guess the cryptocurrency is Bitcoin, actually Bitcoin is a coin in cryptocurrency. The price of 1 Bitcoin in Indonesia exceeds $ 6000 and people's buying interest still soars.
Maybe many of you are already familiar with the word Mining, an activity to mine Bitcoin.
Mining Bitcoin in 2009 is very easy, you just have to provide a laptop or computer, you don't need to use the best processor, video card, GPU (Graphics Processing Unit).
But, the more here the more Bitcoin miners or commonly called Minner, thus impacting on the difficulty of getting Bitcoin. Why? because to get Bitcoin from mining, the computer and software you use must be able to solve math problems and if you successfully solve the problem, then you will be rewarded with Bitcoin.
What is Bitcoin mining?
Bitcoin / bitcoin mining is a process where all transactions are entered into an open public Bitcoin public ledger, meaning that everyone can record the transaction. In the world of Cryptocurrency, the ledger is also called the Blockchain. Mining can also be said as a means to create a new Bitcoin.
In more detail, the process involves solving very difficult mathematical puzzles, the puzzle comes from the transactions collected which will become blocks. Participants / miners who successfully solve the problem and place it on the blockchain, will be awarded with Bitcoin / BTC.
All people who can access the internet can mine Bitcoin. However, you must have a laptop / computer or also a smartphone that is capable. You also have to download special software such as BTCminer, CG miner or Bitcoin miner.
Mining Method:
Method 1: Cloud mining
Cloud mining is a Cryptocurrency mining system such as Bitcoin and Ethereum without any mining tools or related equipment. In other words, you don't need to buy sophisticated computer equipment at a price of millions of rupiah.
There are several outside companies that hold Cloud Mining businesses, for example Genesis, Hashnet, Hasflare, Hashing24, etc. The company is located outside Indonesia and they choose a location where electricity prices are very cheap. However, the company asks you to register an account with their company, just like how you register in social media.
With the existence of these companies, it is very helpful for lay people who do not understand very well in the world of computers, so they can continue to mine Bitcoin. But, there are costs to be incurred called "Hash Power".
"Hash Power" can be interpreted as the speed of a computer that you rent in the company, you can choose how fast you need. All companies that serve in this field, have various plans and prices.
Genesis mining is one of the best and has many choices, you can choose the mines of Bitcoin, Etherium, Dash, Litecoin, Monero and Zcash. Many people have already benefited from Bitcoin from Genesis Mining and almost all plans have run out, but you can choose the plan that you design yourself.
Prices for cloud mining are quite expensive, ranging from hundreds of thousands to hundreds of millions of rupiah. But with cloud mining, you don't need to buy a very expensive Video Graphic Card (VGA).
-Tips for choosing Cloud mining that is not deceptive
- Check the cloud mining website that you selected
You can go to the 'about' / 'about' page on the site. Most fake cloud mining will empty the page, you can also check their phone number and try to call. An honest / genuine Cloud Mining will write their missions, company background, co-workers and also leaders in their company.
- Go to Google, forums and Facebook
Most people will be happy if they get a cloud mining price that doesn't make sense. For example 1 year / s for Rp 100,000. This is a fraud and you must leave the site immediately and never fill your e-mail to the site.
A good cloud mining company is certainly a company that has stood for a long time. Because the mining of mining mining systems is more difficult and many of the newly opened cloud mining can be said to be fake companies. Go to Google, if they are on the first page, you can trust that the site is safe and also notice how many people like it on their Facebook page. Also see how active they are on the social media.
- Strict security
If you want to create an account within the company, pay attention to their security. The SSL / certificate in your browser must be secure / there is a key image in the top right corner. When you enter your e-mail and password, they need approval "I'm not a robot". The harder you make an account, the more trustworthy the company is.
Method 2: Personal mining / mining alone
Mining itself is very expensive, 1 computer will make $ 10 per day. It is also uncertain, depending on the price of BTC, the difficulty in solving math problems at BTC or it can be called your fortune. Why do I call it sustenance? because to solve this problem, your computer can only guess numbers and letters.
How to choose computer tools for mining rigs?
The computer device that you choose must have the following properties:
- Reducing electricity costs when mining
- Maximizing mining revenue relative to electricity costs (using less electricity, increasing BTC / ETH uptake)
1. GPU (video card)
2 GPUs that are good for mining cryptocurrency are NVDIA and AMD. Most GPUs are very quickly sold out due to the booming cryptocurrency. In fact, some computer stores deliberately do not sell the GPU because they use it themselves.
From NVDIA, it is recommended to buy GE FORCE 1070/1080, both GPUs are energy efficient but not very good when compared to AMD Radeon 470 / 480,570,580.
- GE FORECE 1070 gives 25MHS, 200watts
- GE FORECE 1060 gives 19MHS .110watts
- AMD Radeon 460 offers 11 MHS / mega-hashes per second, 75 watts
- RX470 offers 45MHS / mega-hashes per second, 125watts
- Radeon RX 480-24MHS, 170watts
- Radeon RX570-21MHS, 125 watts
- Radeon RX Vega 64-33 MHS-200 watts.
2. Motherboard
You need a motherboard that has at least 6 PCle slots to accommodate your GPU-GPU. Many motherboards have PCL X16 and PCle x1 but this is not possible for all GPUs to be connected to the motherboard due to the narrow space. However, with the riser card cable, so that it can connect all GPUs to the motherboard. The advantage of a riser card cable is that this cable does not reduce the hasing rates.
Recommended:
- MSI Pro Solution Intel Z170A LGA 1151 DDR4 USB 3.1 ATX Motherboard
- ASUS PRIME Z270-P LGA1151 DDR4 HDMI DVI M.2 USB 3.0 Z270 ATX Motherboard PRIME Z270-P
- ASRock H81 Pro BTC Motherboard
3. CPU / PROCESSOR
CPU is not so important for Bitcoin mining, Intel i3 or celeron is enough. It doesn't need a CPU that is expensive because in mining, only the GPU works while the CPU doesn't. So it is recommended to look for a CPU that uses less electricity.
Recommended:
- Intel 3.70 GHz Core i3-6100 3M Cache Processor
- Intel Celeron G1840 Processor
4. SSD / SOLID STATE DRIVE
You must have heard and used a hard drive. But to do mining requires solid state drives that are almost the same as hard drives but SSDs are faster and safer. It is recommended that 60GB-120GB is enough for your mining rig. Its purpose is to install OS (Operating system), such as windows and mining software.
5. RAM
Just like a CPU, RAM does not work in mining time, enough with 8GB of RAM to make your computer work.
6. Mining case / casing
It is recommended to look for a casing that can anchor 6 GPUs and open so that air can enter so it can cool your computer.
7. Fan / ac
Place your mining rig in a cool place, so that the tools you need can work optimally and last longer for use at all times.
8. Software
Software for Bitcoin:
Software for Ethereum
9. Wallet / wallet
You also need to have a digital wallet like keepkey or MyEtherWallet to store coins that have been successfully mined.
Actually there are many other ways to get BTC / ETH, such as following investments, buying Bitcoin / Eth directly and investing in ICOs. But by mining yourself, your losses can be limited rather than following an investment.
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No profit in solo mining.
In my opinion, it might be because mining pool is very less profitable because the value of crypto coins continues to decline and difficult to increase so that profits are not obtained by miners.