Once you decide to throw yourself into the whole Bitcoin concept, you realize that you’re undertaking a very long journey without knowing where to begin.
You know your destination but you have no idea where you are right now and moreover – how to get to where you want to be. It’s a very frustrating experience but it has to be tackled one problem at a time.
The bitcoin mining software can be one of the most intimidating factors of the bitcoin mining process. Some tools offer you a full GUI experience, while others are mostly text-based which can be scary for most people who don’t deal with programing on a daily basis.
The good news is that all of this is not as complicated as it once was.
There is a lot of information all around the Internet on how you need to setup your system so every tool you decide to research will probably come with a detailed installation tutorial.
If you have a bitcoin mining computer, the software will not be a problem for you. Keep in mind that you have to match your software and hardware.
Some applications work with ASIC hardware while others only support GPU-based systems. Make sure that you’re familiar with these terms before you even think about venturing forward.
But first things first. Let’s say you have decided to start mining and you are familiar with the basic concepts.
You have even bought an expensive ASIC miner. Now what? Now you set up your bitcoin wallet. After all, you will need a place to store your profits, and sadly hiding them under the old mattress won’t do the trick.
Your bitcoin wallet is a piece of software that works as a regular wallet, to the point where if you lose it somehow, your bitcoins will be gone forever.
That’s why it’s a good idea to keep a copy. Go to https://bitcoin.org/en/ and follow the few simple steps in order to create your wallet. While you’re setting it up, you will probably read a bit about securing it, too.
Next thing you need is access to the public ledger.
You will get it from https://bitcoin.org/en/ again, but keep in mind that coming online will take a while since you have to synchronize the block chain with the entire network. Don’t worry, though – it only takes so long the first time.
Now that you’re all set up, the real fun may begin. For the sake of argument earlier, we decided that you’ve purchased an ASIC miner. This means that you need to find a suitable software for that hardware.
Not all software was created equal.
For example, some types like GUIminer only support GPU/CPU-based systems but not ASIC. That’s why it’s important to know your hardware so you can choose your software promptly. There is a plethora (well, maybe not plethora, per say, but you know what we mean) of bitcoin mining software comparison websites, so go wild.