Category Archives: Crypto Mining

Here’s How To Mine Dogecoin

HERE'S HOW TO MINE DOGECOIN

A lot of people around the world mine Bitcoin with hopes of making profits. On the other hand, Dogecoin miners do it for fun. But is there more than fun to be gained from mining Dogecoin? Read on to find out. 

What is Dogecoin?

Memes have popularized Dogecoin (DOGE), a digital currency created for fun and designed to reach a wider audience than other cryptocurrencies. Dogecoin was born in 2013 when Billy Markus and Jack Palmer launched it as a jocular gesture to ease the tension in the crypto world.

With a cute Shiba Inu as the symbol, the coin aims to show the lighter side of the crypto world and get more people engaged in cryptocurrency. What began as a joke has now been applied in a ton of meaningful use cases that show its significance in societal issues.

Apart from being enjoyed by Reddit users in rewarding funny content, Dogecoin has been used to advance charitable causes like promoting the notable Jamaican Olympic bobsled team, as well as digging water wells in Kenya. 

Mining Dogecoin

Dogecoin mining is similar to mining other cryptocurrencies, which involves validating transactions and being rewarded with a new coin. Dogecoin blockchain makes use of the Scrypt algorithm, with a new block gained every minute and offering 10.000 Dogecoins.

As with mining other cryptocurrencies, there are two ways to go about it – solo mining (on your own) or pool mining (along with a group). Solo mining naturally gives one a lower chance of winning a block, while pool mining increases the odds as there are more competing nodes. However, the total reward for the latter is shared among the group of miners. 

What Is Required for Dogecoin Mining?

Mining any cryptocurrency is an extremely complex process that requires expensive hardware, software, and a lot of electric power.

Hardware for Mining Dogecoin 

To mine Dogecoin, you need a Scrypt ASIC (application-specific integrated circuit) miner, a central processing unit (CPU), or a graphics processing unit (GPU). 

It is not advisable to use the CPU of your PC as it may overheat from the complexity of the processes involved. GPUs perform better, and there are various kinds available. 

However, as mining is now highly competitive, it's best done with an ASIC miner that works with the Scrypt algorithm. It comes with more power, but also costs more and consumes more electric power.

Sofware for Mining Dogecoin

There are a few software options for both pool and solo mining CPU mining. For GPU mining, there are a few more options, including Minergate, CudoMiner, and NiceHash.

ASIC for mining, on the other hand, usually comes built-in with the necessary software. Nonetheless, if your ASIC has no integrated program, CGminer is a vastly universal mining software.

Those interested in mining Dogecoins without investing in hardware or software can opt for cloud mining, which involves renting computer power at a monthly charge. This way, you get a corresponding share of rewards obtained. Some cloud mining pools you can join include Genesis Mining, Eobot and NiceHash.

Cryptocurrency Wallet

You need a cryptocurrency wallet in which to store the Dogecoins you earn. Just like with online banking, you can send or receive crypto coins using your crypto wallet as well. There are several crypto wallets to download via the app store of your device.

Conclusion

Dogecoin mining is a good place for beginners to familiarize themselves with the mining process. In addition, though earlier considered as a crypto parody, Dogecoin has also proven its worth in supporting charitable causes.

 

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Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy. This page contains sponsored content, affiliate links, and/or other forms of paid promotions, as do all pages on WatchCrypto.Media, If you would like to view more details on the sponsored nature of any given page please contact us.

BITCOIN Halving 2020 Price Prediction | Will BTC Jump?

BITCOIN Halving 2020 Price Prediction | Will BTC Jump? | Chico Crypto

Welcome to this cryptocurrency mining related video posted by Chico Crypto. In this video, you will learn about the 2020 Bitcoin Halving which is taking place in May of 2020.

Bitcoin Mining Operation Costs

Variable Costs

  • Electricity
  • Labor
  • Maintenance

Fixed Costs

  • Land
  • Rent
  • Equipment

Mining precious metals vs Mining Bitcoin

When a company is mining Iron the cost to mine the Iron is the same no matter what the price of Iron is (static prices). In Bitcoins case, the value of Bitcoin does not change how many Bitcoin can be mined. The amount of Bitcoin that can be mined each day is 1800 BTC (prior to the halving in May 2020) - this is dynamic pricing.

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Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy. This page contains sponsored content, affiliate links, and/or other forms of paid promotions, as do all pages on WatchCrypto.Media, If you would like to view more details on the sponsored nature of any given page please contact us.

Two Elements That Will Drive Bitcoin’s Price in 2020

Two Elements That Will Drive Bitcoin's Price in 2020 | DataDash

Welcome to this blockchain and crypto currency video by DataDash. In this video, you will learn from Nic two elements that will drive Bitcoins price in 2020, 2021 and 2022.

Quantitative Easing effect on Bitcoin and Cryptocurrencies

Bitcoin and other similar cryptocurrencies have a fixed supply. It is on a set schedule and we know when and how much Bitcoin will be released into the supply. In FIAT currencies around the world, we do not know this information. Central banks around the world have been printing money at a faster and faster rate. This devalues money and makes it hard to know the purchasing power of a dollar in the near and far off future.

Interest Rates (Negative Interest Rates) effect on Bitcoin and Cryptocurrencies

Negative interest rates will make Bitcoin more appealing. As negative interest rates and lower interest rates come into existence long term bonds and yields see a steep decline. There will be a huge drive for a hedge against assets that don't have quantitative easing. Bitcoin, Gold, and Silver are among the only assets that can be hedged against negative interest rates and quantitative easing.

Bitcoin Halving 2020, Bitcoin Mining

The amount of Bitcoin being released into the supply is being cut in half. If demand stays the same while the supply of newly created Bitcoins goes down. The price of Bitcoin is going to become more valuable.

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Sell or Hodl March 2020 Flash Crash | Chico Crypto

Sell or Hodl March 2020 Flash Crash | Chico Crypto

Welcome to this cryptocurrency video posted by Chico Crypto. In this video you will learn about the recent drop in Bitcoin and the cryptocurrency industry as a whole.

Mining around the world is entering into a period where it may not be profitable to mine Bitcoin. The majority of mining rigs in the US for example will not be profitable when the price dips below the $6k level.

China which has a 65% mining power for the Bitcoin Core network. The majority of miners in the US S17's which still are profitable at levels other miners may not be. Watch the crypto video above to learn more about Bitcoin mining and the current state of the crypto market.

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Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy. This page contains sponsored content, affiliate links, and/or other forms of paid promotions, as do all pages on WatchCrypto.Media, If you would like to view more details on the sponsored nature of any given page please contact us.

2020 Mining Bitcoin | Russia Canada America | Altcoin Daily

2020 Mining Bitcoin | Russia Canada America | Altcoin Daily

Welcome to this blockchain and cryptocurrency video by Altcoin Daily. In this video you learn about blockchain and bitcoin mining around the globe. Canada, Russia, and the USA are touched on briefly.

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Disclaimer: Statements on this page do not represent the views or policies of anyone other than the person who says or writes them. The information presented to you on this site is made available for discussion purposes only, and is not cryptocurrency investing or any other type of investing recommendations or advice. Under no circumstances does the information on this page or site represent a recommendation to buy or sell cryptocurrencies and crypto securities. All product and company names are trademarks™ or registered® trademarks of their respective holders. The use of them does not imply any affiliation with or endorsement by them. By using this site you agree to our website terms and privacy policy found at watchcrypto.media/terms-privacy. This page contains sponsored content, affiliate links, and/or other forms of paid promotions, as do all pages on WatchCrypto.Media, If you would like to view more details on the sponsored nature of any given page please contact us.

Bitcoin & Cryptocurrency Mining Pools Explained

Bitcoin & Cryptocurrency Mining Pools Explained

Welcome to this cryptocurrency video posted by Voskcoin. In this video you will learn about Bitcoin & Cryptocurrency Mining Pools.

A mining pool brings together computing resources that are capable of mining cryptocurrencies. Mining pools allocate successfully mined blocks proportionally and participants in a mining pool collect rewards based on their share of the computing power. Mining pools help keep volatility down for individual miners and makes rewards more stable and predictable.

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Block Reward Explained

Block Reward | Blockchain Mining

Welcome to this cryptocurrency video posted by 99Bitcoins. In this video you will learn what a Blockchain Reward is. A blockchain reward is a incentive given to miners who help to verify transactions happening on a blockchain.

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Why The Bitcoin Halving Isn’t Priced In | DataDash

Why The Bitcoin Halving Isn't Priced In

Welcome to this cryptocurrency episode of DataDash. In this episode, Nicholas Merten will be discussing -Why the bitcoin halving isn't priced in yet.

#bitcoin #crypto #cryptocurrencies Check out the sponsor of this cryptocurrency video, eToro: http://etoro.com/datadash

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