Last summer, the cryptocurrency market was replenished with another coin - Bitcoin Cash. And today many are interested in mining Bitcoin Cash, because this coin is not only a fork of Bitcoin, but also an independent, rather expensive cryptocurrency. At the beginning of its march, it had many opponents - skeptics who did not believe that the fork could fully enter the environment in question and gain a foothold here. But, apparently, the fears were in vain: today the coin is one of the most popular in the world.
Not least thanks to bch mining. Considering how Bitcoin Cash is mined, you can find many similarities with the mining of its progenitor - Bitcoin. Not surprising, because if you know how to mine bitcoins, then you will understand how to mine cash coins.
Mining Bitcoin Cash is a complex process. Cash coins are rewards for solving special mathematical equations. In principle, the same paradigm is used in bitcoins, but people mining bitcoin cash, before mining coins, need to know which algorithm is used to do this. In this case, a special SHA-256 algorithm is used.
This algorithm was developed by the US National Security Agency. It is a hash function that is the basis of cryptography. Before you start mining bitcoin cash, you need to clarify that the mining itself is provided by processors or powerful graphics cards with an above-average hashrate.
In 2022, you can mine the bcc cryptocurrency in several ways, but not on a computer, since the fork separated from Bitcoin at a time when mining coins on standard computers was also impossible for Bitcoin. The bitcoin cash mining program installed on a regular computer and without equipment will not work. We need to increase computing power. There are several options:
- On video cards . Bitcoin cash mining calculators show that this is the most affordable and effective way to mine a new cryptocurrency. On such farms, payback occurs quickly, thanks to which miners can quickly make a profit, rather than spend years paying off expensive equipment.
- On the processor . According to the calculations of the bitcoin cash mining calculator, this option is less effective, but can also bring profit if you use the processor correctly. Thanks to this solution, energy consumption is reduced, the system does not heat up as much, and equipment assembly is inexpensive. You don't even have to buy new equipment. But the owner could use it in different ways, so you can expect various troubles from a used processor. It's better to buy new equipment, but not Pentium or Celeron. They are not suitable because they are not powerful. It is better to choose Intel Core i7, Xeon or AMD Ryzen. They are characterized by high productivity, which is why they are used in mining.
- Through cloud technologies and pools . Mining through pool mining bitcoin cash is perhaps the most convenient and effective way to get the coins in question. You don't need the most powerful equipment here, but you shouldn't expect a lot of money either. The scheme by which the bitcoin cash mining pool works is simple. The user connects his equipment to the pool, downloads the program and can work. Another option is when users rent capacity and pay money for it.
Choose any of the proposed methods for mining cryptocurrency, focusing on your own capabilities and interest. But first, let's look at each option in more detail.
What is Bitcoin cash
Bitcoin cash is related to Bitcoin and has the same blockchain. Bitcoin cash appeared on August 1, 2022 as a result of a fork in the familiar Bitcoin. Such changes occurred in the Bitcoin world due to the fact that the community could not reach a unanimous opinion on the further development of the cryptocurrency. The creation of two Bitcoin branches received support from Chinese miners, who make up 5% of the total number of cryptocurrency miners.
Initially, the cryptocurrency rate was approximately $300, but over time this figure increased to about $700, after which it decreased.
What miners and crypto investors are saying
The profitability of mining any digital coin directly depends on its value. Therefore, getting acquainted with expert opinion must begin with the forecasts of practicing investors regarding the movement of BCH quotes. They suggest that the value of the cryptocurrency will almost double. In the short term, the coin could cost between $750 and $1,000. Naturally, this will have a positive effect on the earnings of miners.
Back in May 2022, information began to actively appear in the media that miners began to abandon BTC, preferring BCH and BSV. The corresponding news was published by the authoritative Russian-language portal about cryptocurrency Bits Media. The change in priorities is due to two factors. Firstly, the size of the reward in the Bitcoin system has been halved. Secondly, this provoked an increase in the hashrate of the BSV and BCH networks.
Well-known businessman Kim Dotcom, founder of the file sharing service Megaupload, also positively assesses the prospects of Bitcoin Cash. He believes that this cryptocurrency is undervalued and has a great future ahead of it. He regularly shares his thoughts and forecasts regarding this asset on his Twitter blog. He is also developing all sorts of projects that involve the BCH coin in their work.
How to get Bitcoin cash
All people who had Bitcoin received the same amount of Bitcoin cash. The news of such a distribution of cryptocurrency led to panic among the population. A large number of people withdrew funds from online wallets in order to receive free Bitcoin cash. Such actions caused a large jump in the Bitcoin rate.
To receive Bitcoin Cash coins, it is enough to have a wallet with Bitcoin serial keys, and also have a small amount on your balance. If there are no keys to such a wallet and a zero balance, it is impossible to receive new coins.
It is possible to buy Bitcoin cash at exchangers and exchanges. But it is worth noting that at the moment a minimum number of people have been able to deposit Bitcoin cash into their online wallet.
The creator of the new Bitcoin branch is Amaury Sechet. He is a programmer for San Francisco and Facebook.
ASIC-based cryptocurrency mining
ASIC equipment is created specifically for computing operations , which is characterized by increased hashrate and optimized power consumption.
The main disadvantage is the inability to use the device in other areas, as well as reduced efficiency when updating the source code aimed against ASIC miners. The most popular hardware option is the Antminer S9 from Bitmain. The device is capable of delivering an efficiency of 14 Gigahash/second, which is an order of magnitude higher than that of conventional video cards. There is also a significant difference in electricity consumption.
How to mine Bitcoin cash
To mine Bitcoin cash you need to use video cards that are powered by ASRock. At the moment this is considered a disadvantage, but the developers give hope that such problems will be resolved in the near future.
To get a sufficient number of new coins you need to purchase special equipment. Mining experts recommend mining Bitcoin cash using the ASRock H110 Pro BTC video card. This map was created to allow the use of 2 or more graphic objects. Profit is the reward for calculated blocks.
It is worth taking into account the wear and tear of equipment, as well as energy costs.
Mining pools
A secondary pool for purchasing cryptocurrency was launched on August 20, 2022. Bitcoin cash mining currently uses 144 blocks, which have received approximately 2% of the hashrate. Bitcoin cash miners expect that the BTC top will provide a couple of hashrates for mining innovative coins.
A large number of miners have started mining Bitcoin cash. This is because the created pools have added all interfaces to the main information panels.
The BCH hashrate is much larger, which is the difficulty, therefore the target. Updates will occur once every 2 days.
At a lower cost, the hashrate will remain unchanged or become slightly higher, that is, the Bitcoin mining process will become more profitable.
This prospect will lead to cryptocurrency miners running from one block to another to ensure higher profits. Based on the fact that the hashrate moves somewhat towards the BCH chain, the Bitcoin chain will decline. So, on November 16, 2017, the total capacity was 9 exahash. But on November 21, 2017, there was already a decrease to 5.9 exahash.
How to mine without ASIC
You won’t be able to mine without an ASIC, but you can rent one. There are a large number of options for renting an ASIC. Initially, you need to register in the pool and make all the necessary settings.
Usually you need to go through a short registration on the selected site. Usually you need to go through confirmation via SMS and enter a captcha.
After logging in, a cryptocurrency is selected. For this purpose, the site should have a “Pool” button, by clicking which you need to select BCC Pool.
You can rent an ASIC at the Mining Rig Rentals site. To do this you need to register on the site. To mine Bitcoin cash you need the SHA-256 algorithm. It must be selected from the proposed list.
Necessary equipment
To “drill” profitably, you will need to carefully calculate in advance what costs you expect to have to purchase or lease. You can use different options, but for each it is wise to do some preliminary calculations. Then it will become clear what to expect, what the level of profitability will be, when the costs will be recouped. It’s easier to do the calculations using online mining calculators.
ASIC controllers for mining
Using a special device for the “mine” is the option that will bring the greatest profit. You can learn more about what it is from the article “ASIC controllers for mining.” Due to the complexity of “drilling” the VSN ASIC, you will have to choose a newer, more powerful one. The demand for them is great, so three dozen companies are engaged in production.
When choosing an ASIC, several criteria are used:
- hashrate;
- the frequency at which the processor operates;
- cost of equipment;
- energy consumption;
- manufacturer's reputation.
You will have to worry about the ventilation mode and removal of excess heat. Important advantages of ASICs:
- easy to set up;
- practically do not require maintenance;
- quickly pay for themselves.
Mining on HDD
If you have excess computing power, there are significant unused volumes left on your computer’s hard drive; you can earn money through “drilling.” It is not possible to directly mine Bitcoin cache in this way; the reasons are explained in the article “Mining on HDD”.
However, the excess volume on the HDD can be rented out by agreeing that it will be paid for by the BSN. Not very profitable, there are additional inconveniences - you will need to take care of the round-the-clock online availability of your drives. For this method of earning money, unloaded office equipment is suitable.
CPU Mining
They stopped drilling Bitcoin on the CPU shortly after the coin was distributed. However, this can be done with a number of tokens that are designed to retain this capability. General information is contained in the article “Mining on a CPU”.
It’s hopeless to “drill” a Bitcoin cache even with a powerful processor; its network is too large. This is an unprofitable and pointless activity.
Mining on a video card
Miners, when they discovered that the computing power of central processors was not enough, began to use graphics. Why this turned out to be more profitable is explained in the article “Mining on a video card.” A little time passed, video cards began to retreat under the onslaught of ASICs. But GPU manufacturers tirelessly modify their products and adapt them to the needs of miners.
It is rational to use a farm with 4-8 video cards. When selecting equipment you also need to pay attention to:
- amount of RAM;
- power supplies. It is advisable to have a 30% power reserve.
And connect to the pool. For a beginner, this solution is optimal; the risks of unprofitability of the venture are significantly reduced.
Connecting a pool to Mining Rig Rentals
Having completed all the above conditions on the website, it becomes possible to add and connect an account in VIABTC to the Mining rig rentals site. To do this you need to do the following:
- Hover over your login in the top menu, then select “Pool Profiles”.
- Create a new profile by clicking on the “Create New Profile” button and selecting the SHA-256 algorithm.
- Click the “Add New Pool” button and fill in the appropriate fields in the open window (1 – name (come up); 2 – port and host of the pool on which Bitcoin Cash will be mined).
- Add a new entry to your profile by selecting the created name from the list and clicking “Add To Profile”.
To pay for equipment rental, you need to enter money on the server, after which you need to start mining Bitcoin Cash on the VIABTC pool. To pay the rent, you need to click on the drop-down menu again and select “Account Balance”, which is located on the Deposit Address page. Then you need to enter the desired deposit amount.
Next, you need to select the rental duration (hours), then click “Rent Now” and then “Instant pay now”. In the open window, select the created profile. After which all the columns will be filled in automatically to start mining, you need to click “Save”.
The Worker status becomes active in the pool in just a few minutes, and it will be possible to receive new coins.
Mining pools
Even if you have equipped a powerful farm, you should not “drill” Bitcoin Cash on your own; if you do not have the necessary experience, it is better to join a large association. This is described in more detail in the article “Pools for Mining”.
By joining the pool, you can significantly reduce your own costs. You will have to pay for the benefits by giving away part of the profit. When choosing who to join, they focus on several parameters:
- reputation, success of the pool;
- what equipment will be required from the participant;
- how is it customary to distribute profits;
- How convenient is it to withdraw earnings?
Difficulty of mining bitcoin cash
The difficulty of mining Bitcoin cash changes every 2016 block. When the performance of 2016 blocks exceeds 2 weeks, the difficulty decreases. But if such a number of blocks appear faster than in 2 weeks, then mining becomes much more difficult. But it is worth noting that the difficulty of mining Bitcoin cash should be less than the difficulty of mining Bitcoin, as this will lead to interest in the formation of the Bitcoin cash blockchain.
If less than 6 blocks are produced within 12 hours, then the difficulty of mining the next 6 blocks will be 20% lower. Miners are able to reduce difficulty by 75% in 1 day if they work together.
Where to store received coins
Bitcoin Cash supports a large number of wallets. Here are some examples of different types of services.
Mobile wallets Bitcoin.com, Bitpay, Edge, BRD make it easy to access cryptocurrency at any time and from anywhere. In terms of functionality, they are not inferior to wallets for computers and laptops.
If you prefer to work from a computer, you can use Exodus, Jaxx, Atomic Wallet, Electron Cash, Melis wallets.
Cold wallets provide the most secure storage. Hardware – Ledger, Trezor, Satochip. And paper ones, which can be created on the sites Bitcoin.com or CashAddress.
Who created Bitcoin Cash?
Bitcoin Cash is the product of miners who decided to abandon Bitcoin. BTC coins are becoming increasingly difficult to mine. Many miners expressed dissatisfaction and supported the process of creating a new crypt.
Bitcoin cash turned out to be very convenient for the so-called “schismatics.” Considering that the idea was supported by about 12 percent of miners, creating their own cryptocurrency was not a problem for them.
Despite the advantages, BCH also has serious disadvantages. The main disadvantage is that most of the mining power is concentrated in one pool. That is, it is possible to deal a serious blow to cryptocurrency by destroying the organization.
Many people love Bitcoin precisely for its decentralization. It is almost impossible to destroy this cryptocurrency. The power to create new coins is distributed among many pools.
Therefore, many recommend getting rid of BCH. But there is no need to rush, because now the crypt exists and is gradually growing in price. In the future, you will be able to sell your existing coins at a higher price.
Cranes
Many faucets have appeared that provide Bitcoin cash to users. There are dozens of them on the Internet, but we will list only a few popular ones:
- bch-bagi
- bch-8raa
- bch-queen
- bch-s
- bch-coin
How do faucets work? Details may vary, but the diagram is always similar:
- You register on the portal.
- Visit the page at regular intervals.
- Click on the button to receive funds.
- Enter the captcha.
- You are given 5-500 Satoshi, depending on the conditions of the portal.
Of course, the amount is actually not that large. But if you register on several portals at once, you can collect a certain amount of Satoshi and send them to your wallet for storage.
You shouldn't expect to make serious money. There are many people who want to use the cranes, and no additional qualifications are required. Therefore, the reward is appropriate.
How do people benefit?
- Viewing advertisements.
- Increase activity.
- Improve statistics.
It is profitable for portals to issue satoshis for visiting. This way they improve their performance and share a small portion of advertising revenue.
Video card characteristics
As you understand, speed and profit per MH/s are not the only thing worth considering when choosing a video card for mining. BCC/BCH, as already mentioned, has a high complexity and demanding algorithm. Therefore, it is not advisable to choose just any card. The following criteria are important:
- amount of video memory (more is better);
- bus width (at least 256 bits);
- memory type (GDRR5 or HDR preferable);
- cooling system;
- food type;
- overclocking capability.
It seems that with all this, it is better to choose one of the best video cards, like Nvidia Titan X, and then the benefits will be enormous. However, this is a misconception. The efficiency will indeed be the best, but profitability will decrease due to the high cost of this equipment.
For mining today it is recommended to use video cards Radeon RX 570, 580 and Fury X, as well as Nvidia GeForce GTX 1050, 1060 and 1080. The payback period between them differs by about 30 days. Naturally, the newer generation cards from this list are better, however, do not forget to take into account your financial capabilities.
Impact indicators on mining
Before starting this process, you need to know what algorithm the cryptocurrency has, what its complexity is and the overall hashrate. This way, you can choose the right equipment, as well as find out exactly how many video cards it is advisable to purchase for efficiency.
BCC/BCH is based on SHA-256. This algorithm consists of generating a fixed-size value from a mass of arbitrary data. There is only one correct solution, and it can only be found by trying all possible ones. Thus, it requires good graphics card speed.
The difficulty depends on two indicators. The first is the time spent solving the block. Bitcoin Cash is designed to take about 10 minutes to complete one block. If more time is spent, the difficulty decreases; if less time is spent, the complexity increases. However, the network works stably, so it only takes about 10 minutes, which is why the complexity gradually increases.
The second, key for all mining, is the network hashrate. The speed at which a block is solved depends on how much power is used to solve it. Accordingly, the more miners, the higher it is. The number of miners creates the hashrate. Since a block must be solved in 10 minutes, the difficulty is adjusted to the overall hashrate so that tasks do not take too long or too quickly to complete.
Taken together, this leads to the emergence of minimum hardware requirements for mining. So, 10 years ago, few people were doing this. The hash rate was low, so the difficulty did not increase, and it was possible to mine on old computers. Today this is a very popular activity, so you need to have a good video card.
Feasibility
Is it possible to mine Bitcoin Cash on video cards? One expert will say yes, the second - no. The words of users on forums are generally radically different. Lately there has been an opinion that GPU mining of cryptocurrencies is long dead. However, Ethereum is actively mined on cards; more complex coins can also be mined.
BCC/BCH can be mined using GPUs. Of course, as already mentioned, one video card will not be enough. But if you assemble at least a minimal farm of 4 GPUs, then the efficiency will be a plus.
How to decide on the manufacturer
Probably the eternal confrontation - Radeon or Nvidia? Gamers face this question all the time. The latter is often preferred as it is slightly faster and produces better frames per second in games. But mining has its own nuances.
The fact is that game manufacturers allow you to choose between two cards from different manufacturers, even in the recommended requirements, and this will not particularly affect the quality. Cryptocurrencies can also be mined by anyone, but efficiency may suffer. It is recommended to choose a specific manufacturer for each coin.
In addition, it is worth considering the speed of the card and its price. One of the main indicators is the profitability of production. Roughly speaking, it depends on how much each MH/s spent will cost. That is, the cheaper it is, the faster the card will pay for itself.
In fact, the manufacturer doesn't really matter. After all, today many video cards are really good. For Bitcoin Cash, miners themselves advise using Radeon, since their GPUs have more cores. However, you can choose Nvidia and have nothing to lose. The main thing is to correctly calculate the profit.
Start of production
Think of Bitcoin Cash mining as the Golden Grail. Despite the high competition and complexity, proper setup will lead to good earnings. First of all, you should understand that cryptocurrency mining is a business. This means you need to draw up a business plan, calculate costs and payback.
The second stage is the purchase of equipment. You already know how to do this. For greater confidence, you can take the advice of experts or ask them to help with your choice. Don’t forget that in addition to the video card, you need to purchase other computer components that must be compatible with both cards and mining.
Third, setting up the operating system. Essentially, you need to remove or disable unnecessary programs, and roll back the consumption of video card resources to a minimum in order to completely direct them to Bitcoin Cash mining.
The final stage is choosing a pool and setting up the miner program. Good platforms for BCH are ViaBTC, Antpool and BTC.com. After registration, download cgminer (for Radeon) or cudaminer (Nvidia) and start setting it up.
To do this, you need to create a text document in the program folder and specify the following data in it:
- launch file name (cgminer or cudaminer, respectively);
- pool address (-o and its ip);
- user and worker name separated by a dot (for example, miner.worker).
Save the file in bat format. You need to start mining through it. If you turn on the program itself, you will have to set all the parameters each time, which is not entirely convenient.
