Cryptotips George Shnurenko

10 Best Bitcoin Mining Software 2018

💡 Cryptotips
Whether you decide to mine alone or in a group, here’s a list of 10 best mining software
10 Best Bitcoin Mining Software 2018

Bitcoin mining is concerned with how transactions are verified and confirmed on the Blockchain network and this is done using special tools and equipment.

What is a Bitcoin mining software?

A Bitcoin mining software works in collaboration with the relevant hardware to solve computational algorithms on the network and execute these transactions.

Steps to becoming a Bitcoin miner

Becoming a Bitcoin miner involves getting the best Bitcoin mining software. However, this is not all. Here are some other things you need to do.

  1. Get the appropriate Bitcoin mining hardware

  2. Get the best Bitcoin mining software

  3. Set up your Bitcoin wallets

  4. Begin mining

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What factor should be considered before mining

Mining is no small feat. It is not surprising that there’s a high demand for some of the best Bitcoin mining software for windows. Before you become a miner, you need to research and strategize. In the course of your research, you’ll realize that certain factors rank highly in the scale of preference and you must give these factors serious thought.

In essence, what should you consider?

  1. The cost of electricity

  2. The cost of Bitcoin mining hardware

  3. The cost of Bitcoin mining software

  4. The cost of cooling

  5. Transaction fees

  6. Miner fees

It sounds like a whole lot of work, but really, it isn’t. After you settle these considerations, move on to some of the best mining software for Bitcoin and other currencies.

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CGMiner

CGMiner is a Linux-based software which was coded in C. For about six years now, it has enjoyed widespread usage among cryptocurrency miners and this is largely because of its compatibility. It uses a command line interface as opposed to GUI. However, it remains a very user-friendly interface. For example, the speed of the fan can be changed using very easy keyboard commands.

CGMiner was designed for hardware mining, although this does not stop you from using CPUs and GPUs. Also, when you consider the best Bitcoin mining software windows 10 works with, CGMiner is probably not going to be mentioned. This is because several anti-virus software blocks the download. The lack of a GUI might be a turnoff for some, but it doesn’t dispute the fact that this is a top-notch Bitcoin mining software.

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EasyMiner

This is GUI-based and it is ideal for both Windows, Linux, and Android. Just as the name implies, it makes mining easy with its interactive GUI. When you set it up, the software is in a default “MoneyMaker” mode and this mode creates a wallet for Litecoins. In addition to this, it begins mining using the machine’s CPU instantly.

EasyMiner also serves as the frontend for mining software without GUI like CGMiner and CPUMiner. This makes it possible to dedicate your CPU and GPU to mining Litecoins while ASIC is dedicated to Bitcoin. The dashboard lives up to the hype and it is incredibly easy to navigate, change the mining pool, adjust the network settings, and carry out other activities.

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BFGMiner

Just think of a CGMiner which was designed to work with application specific integrated circuits (ASICs), and you will end up with BFGMiner. This feature makes it arguably the best software for Bitcoin mining. Also, it is ideal for cryptocurrencies using the SHA256 mining algorithm. Like other popular mining software, it allows you to connect to multiple mining pools.

Also, it allows you to save electricity costs by limiting the connection when a particular mining pool is not reachable. It is also an open-source software, and like CGMiner, it offers a command line interface. Because of how versatile the software is, it can also be considered as the best Mac Bitcoin mining software.

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Bitcoin Miner

This miner is available for Windows 10 and 8.1. The UI is easy on the eyes and the software boasts other factors which. The power saving mode, the support provided in mining pools, and the rapid share submission make Bitcoin miner one of the best mining software for Bitcoin.

BitMiner

Like many other Bitcoin mining software, Bitminer was introduced in 2011 and it boasts 450,000 registered users. The software offers flexibility and using it is considerably easier. However, considering the number of users, you might need to invest more in a reliable ASIC miner to gain ground when you join.

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MultiMiner

This is a graphical user interface based mining software. Although it is hailed as one of the best mining software for Windows, it can work on Linux and MacOS too. Working on these platforms will, however, require additional software. This is, no doubt, the best mining software for new users who aren’t familiar with the Bitcoin mining space as it offers a user-friendly and intuitive design.

Basically, this mining software is excellent because it has the ability to make the process easy. It provides detailed instruction on how to connect to a pool after the software has been installed. In addition, those really confusing terms are clearly defined on this piece of software.

After the setup, the software automatically performs a scan and then detects the hardware being used. MultiMiner then provides details about the hardware which relates to the mining process. The fact that it can also display your projected profits make MultiMiner one of the best free Bitcoin mining software.

Although this software is free, you have the option of sending 1% of the profits you make from mining to the developer. It is not compulsory and you’re free to opt out at any time.

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BitMinter

BitMinter uses special mining pools which bear exactly the same nomenclature. It is also very easy to use and the process of getting paid makes it more attractive. This is regarded as one of the best software for mining Bitcoin as it supports Windows, Mac, and Linux. Although you get the software for free, it charges 1% commission for mining with them.

Phoenix Miner

This Bitcoin mining software is free and open-source. It was also released by two members of the Bitcoin community in April 2011. It also provides support for RPC, w/LP, and MMP. In addition, the kernel loads automatically and it was promised that irrespective of the source of a new and more efficient kernel, the better version will always be adopted.

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BTCMiner

This is an open source miner which offers dynamic frequency scaling, allowing the miner to automatically select frequencies with high hash rates. It also works without Xilinx software or license.  

Pyminer

This is a ‘getwork’ CPU mining client which is used for mining Bitcoin. It is a Python-based toolkit and it is used to provide a reference implementation which can be studied. If you want to begin mining using this software, you are required to build and run Bitcoin from source on your PC. Although the project was announced over 7 years ago, it is still quite slow compared to other Bitcoin mining software. This is because it is pure-python.

Conclusion

”What is the best software for mining Bitcoin?” Well, this question has 10 different answers you can pick from now. Based on the hardware you have available and the scale of your mining operation, you can begin mining using any of the software recommended.

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Cryptotips
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George Shnurenko

Win $100 in CryptoComes Facebook Giveaway

CryptoComes announces the Like&Comment contest
Win $100 in CryptoComes Facebook Giveaway

CryptoComes is a news platform that covers the crypto industry and community, Blockchain, AI and all new generation tech. Keeping you tuned to the latest, we also run price analyses and forecasts, reviews, opinions, interviews, feature stories and investigations.

To improve our stories, we need your feedback. By reacting to our articles published in the social media, you help journalism that is built upon accuracy, impartiality, independence and accountability.

CryptoComes announces the Like&Comment contest. The winner will get the equivalent of $100 in Bitcoin.

The contest period

The Contest begins on April 24, 2018, and ends on May 12, 2018. 2 p.m. UTC.

How to enter

1. Put a like on the CryptoComes Facebook page - https://www.facebook.com/CryptoComes/

2. Comment on this post.

Selecting the winner

The winners will be chosen on May 12, 2018, at 2 p.m. UTC randomly via Comment Picker.

We will announce the winners at CryptoComes Facebook page with a screenshot from Comment Picker.

Our prizes

$100 in BTC equivalent: 1st place

$50 in BTC equivalent: 2nd place

$50 in BTC equivalent: 3rd place

This giveaway is in no way sponsored, administered or associated with Facebook Inc.

Good luck!

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🕵️‍ ICO Watch Eric Eissler

No Go Naga, Not Yet: Past-ICO Review

👁 ICO Watch
A panacea for all crypto payments, or an overreach of technological means?
No Go Naga, Not Yet: Past-ICO Review

Naga (NGC) is a utility token with which all activity in the network revolves around, from serving as the primary form for fees and collateral, to the main base currency for transactions.

NGC shall become the driver of a sustainable economy where demand grows as more and more users, financial institutions, and game-publishers join the NAGA ecosystem. The token is linking all of these industries into one ecosystem for payments.

Financials

While it is a utility token a steady declining price is one that causes worry. The token entered the market on Dec. 23, 2017 at $1.54 and surged to over $4 in January before starting its steady decline all the way down to $0.41 at the time of writing.

The ICO ran for 16 days from Dec. 1 to Dec. 16, raising $45.3 mln. However, its market cap is only some $24 mln, which is a loss of almost half its value and a deterrent to potential investors.

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Team

The Naga team comprises many young crypto enthusiasts with various backgrounds in finance, business, taxation and of course computer science.

Yasin Sebastian Qureshi - Founder and Executive Director

Qureshi was previously the CEO for 20 years at the Varengold Bank AG, before launching into the cryptosphere in 2015 by founding the Naga group AG, which represents Naga coin today.

Andreas Luecke - CFO and Executive Director

Has a strong background in tax, having developed a career in taxation and finance in Germany before leaping into crypto in 2015 by joining Naga.

Benjamin Bilski- Founder and Executive Director

A Forbes 30 under 30 Member, Bilski is a serial internet entrepreneur. He is the Founder and Executive Director of the NAGA Group AG. The company performed Germany's most successful IPO in 2017.

His previous major success was starting an online fishing supply company that serves Germany, Austria, and Switzerland.

Igor Kulatov- Co-founder and CTO

Kulatov has a computer science degree from IMTO University in St. Petersburg, Russia and before joining Naga he worked in IT for several companies- one of which was acquired by Amazon.

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One hand, too many cookie jars

The strategic risk is a primary one: NGC is attempting to unite too many different services under a single utility token.

The synergistic effect of such a combination is difficult to calculate and the uncertainty of the future evaluation of NGC token remains high. AGA Coin is a project for creating an original ecosystem based on a variety of services.

The final ecosystem will include two marketplaces- for trading in the financial and in-game item markets, as well as a number of additional services whilst aiming to be the most independent and full-fledged ecosystem for consumers based on the ERC20 NGC token.

Still potential is locked up until later this year when the mainnet goes live and later the payments system is launched.

Despite the slumping price, the mainnet and payment system launches could be a shot in the arm that Naga needs to succeed.

The second half of 2018 will be a crucial and critical time for Naga. If it cannot achieve success with its systems and services fully operational, then it may be doomed to fail.

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Ripple Toolkit Is Live and Set to Improve the XRP Ledger

Ripple Toolkit is live in beta phase and aims to improve the versatility and accessibility of the XRP Ledger
Ripple Toolkit Is Live and Set to Improve the XRP Ledger

The XRP Toolkit is live in beta phase and aims to improve the versatility and accessibility of the XRP Ledger (Ripple). The tool has been in development over the past few months with the goal of offering a simple user interface that could help inexperienced users learn more about the ledger.

The toolkit can be used to send and receive XRP but has other features among which is a client-side web interface that can be used to prepare, sign and transmit transactions with the use of a hardware or web crypto wallet. Users also have access to a 10,000 XRP test account for free experimentation and demoing of the platform. Official release is set for early 2019.

The impact on XRP price will probably be gradual, depending on how the XRP Toolkit performs, and what new features they may add. We don’t expect to see strong movement based on the beta launch alone, but it is something bullish in the long run.  

Charts at a Glance

Charts at a Glance

XRP/USD sits comfortably with a 13.03% gain for the last 7 days, but the last 24 hours have been bearish, with a loss of -4.42%. After the bounce at 0.43 the pair has not retraced at all and this took the Relative Strength Index into overbought territory (above its 70 level), which is an early sign that we may see the XRP price drop.

Retracements lower are perfectly normal after a strong climb and if 0.52 – 0.50 zone remains intact, our bias is bullish, aiming for a move closer to 0.60 – 0.62. A strong indication that 0.62 will be reached would be a break of the previous top at 0.57, which is currently short-term resistance. A Daily candle close below 0.50 would invalidate this bullish scenario for the time being.

Support zone: 0.52 – 0.50 followed by the bullish trend line seen on chart

Resistance zone: 0.57 in close vicinity, followed by 0.62

Most likely scenario: bounce higher from 0.50 – 0.52, followed by a touch of 0.57

Alternative scenario: retracements lower and a touch of the trend line

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🕵️‍ ICO Watch Eric Eissler

ICOs Performance in 2017 and Outlook For 2018: Review

👁 ICO Watch
It’s time to take what we learned from 2017 ICOs and move forward
ICOs Performance in 2017 and Outlook For 2018: Review

It was a major year for cryptos and ICOs in 2017; they really garnered more attention than ever before. Bitcoin was a major driver of that attention-drawing power because its price went “to the moon” in the course of six months from 3k to 20k by the end of the year.

People were jumping on the Bitcoin bandwagon with the help of Coinbase, which made it easy to buy cryptocurrencies for the average user. Coinbase took in more than $1 bln in revenue in 2017, a large percentage of which it made during the time between Thanksgiving and Christmas.

Besides the Bitcoin craze sweeping the world, altcoins had their days too, and ICO became an acronym that was added to the financial lexicon.

Top 10 ICOs of 2017 by funds raised

1. Filecoin $257 mln

2. Tezos $232 mln

3. EOS $180 mln

4. Bancor $153 mln

5. Status $108 mln

6. MobileGo $53 mln

7. SONM $42 mln

8. Basic Attention Token $35 mln

9. Polybius $31 mln

10. Aeternity $24 mln

The failures

Starting with the bad first.

While there was lots of money raised last year, some estimates put it at $5.6 bln, not all companies were successful after the ICOs.

Many of them, around half of all startups, failed or are in the process of failing.

This is puzzling because the ICOs are raising a lot of investor money meaning that the product or service would have something good to offer. Otherwise, why would investors be laying down their hard-earned cash to support something that has potential, right?

Well, not so much.

Speculation was one of the primary reasons why ICOs raised so much money and then crashed and failed. There were many people out there with the idea that the ICOs would allow them to get rich quick by investing their money in any crypto that came along.

For a time that was sort of true, the crypto market just kept growing and growing, but it was speculative spending that fueled this expansion.

Investors were throwing their money at any newly-launched crypto in hopes of it becoming the next Bitcoin. However, that was not the case.

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Many of the ideas behind theses companies were bad, or the founders got greedy and fought each other sending the company out of control, for example, Paragon and Tezos, respectively.

Paragon tried to get into the legal marijuana industry but found itself up against a wall with Federal regulations and gray areas; not a good mix for business. Tezos had all sorts of legal issues and infighting between the founders and partners, which dragged it down into the ground. Somewhere not just bad business ideas but flat out scams.

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10 ICO scams of 2017

Amounts listed were how much money was stolen in the fake ICO.

  1. ToTheMoon $27 Mln

  2. Plexcoin $15 Mln

  3. Bitcard $5 Mln

  4. Benebit ~$4 Mln

  5. Mybtgwallet.com $3.3 Mln

  6. Confido $375k

  7. PonziCoin $250k

  8. Karbon $200k

  9. HongCoin

  10. BorgDAO

The successes

Despite all the failures and scammers, which have now tainted the ICO and brought the attention of many regulatory bodies, there have been a number of successes. EOS is one of the major successes, which looks to unseat Ethereum as one of the primary smart contract coins.

Aeternity is another coin which uses an oracle and state channels to allow users from around the globe to trade in a trustless way with each other. A major indicator for success was that these companies offered a product or a service that benefited the user, not just another way to payment service.

Outlook 2018

There has been a lot of good, a lot of bad, and a sure lot of ugly that has emerged from the ICO boom of 2017.

From all this chaos will come regulation to settle things down a bit. The scams, however, have been a major black mark on the ICO name, which will require regulation to weed out the bad from the good.

Google and Facebook have also taken a stand on the advertising of ICOs because these companies have deemed them dangerous for consumers.The funny thing is that there are rumors about Facebook being ready to launch its own cryptocurrency.

Card

Conversely, the true beauty of the ICO is that it is unregulated and allows anyone to participate in the ICO, unlike the formal and well-regulated stock markets and securities exchanges, which require a lot of wealth upfront to join.

This year will have more in store for ICOs as they face a more challenging climate to adapt to, growing calls for regulation, and more scrutinization coming down from governments and regulatory agencies. Despite the negative growing climate against ICOs, it should give them all the more they need to adapt, develop, and change in order to beat the negative pressures and regain their former strength with some modifications.  

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Bitmain Brings in $3 Billion

5 year old Bitmain may have made more in profit than 24 year old computer chip maker Nvidia.
Bitmain Brings in $3 Billion

Bernstein analysts estimate that hardware creator and mining company Bitmain earned more than publicly listed computer chip company Nvidia ($NVDA) did in 2017. Bernstein’s analysts estimated that Bitmain made $3 to $4 bln in operating profit in 2017 while Nvidia’s profit in 2017 was estimated to be $3 bln. What analysts found impressive was that Bitmain was able to achieve these numbers after only five years of operation, Nvidia on the other hand, has been in business for 24 years.

Bitmain is a Beijing based hardware and mining company founded by Micree Zhan and Jihan Wu. Bitmain’s most notable product is the Antminer, a cryptocurrency mining rig that sells anywhere from $200 to $2,400 on the Bitmain website. Bernstein analysts estimated that Bitmain has 70-80 percent of the market share for cryptocurrency mining rigs. In addition to creating mining hardware and mining rigs, Bitmain operates a number of mining pools, the most notable being AntPool with a 15.1 percent share of the entire hashrate.

It is estimated that Bitmain made most of their $3 bln profit from selling ASIC chips and mining rigs. The other portion of Bitmain’s profit comes from the company collecting management fees from their mining pools, renting out mining power through cloud services, and through their own mining operations. That being said, 2017 was a great year to be involved in cryptocurrency mining. During the California gold rush, they say the people who made the most money were the ones who sold the shovels. What chip and rig creators are essentially doing in the cryptocurrency industry is selling the shovels. The first day of 2017, the price of Bitcoin was $979.5 (coinmarketcap.com), and at the end of the year, Bitcoin was worth $13,096 – an increase of over $12,116.5 equivalent to over 1,200 percent.  As the price of Bitcoin increased, Bitmain’s mining equipment increased in price. As Bitcoin approached a high of 19,994 on Dec. 17, 2017, the price of the Bitmain AntMiner s9 crawled toward $5,000.

Bitmain plans to open mining farms in Canada and Switzerland in the future. Bitmain also plans to expand their services to other cryptocurrencies like Ethereum and Monero.

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