2024-12-26T09:06:23+0000

This tutorial will show you exactly how to mine Bitcoin using Google Cloud Platform. Outline Intro 0:00 - 0:11 Mining on GCP 0:11 - 0:59 Is it Worth it? 0:59 - 1:40 ASIC Chips 1:40 - 2:07 History of Processors 2:07 - 3:36 Investing in Blockchains 3:36 - 4:40 Modern Day Processors 4:40 - 5:30 Knowledge Asset 5:30 - 6:12 Proof of Work 6:12 - 7:45 Proof of Stake 7:45 - 8:30 Slush Pool 8:30 - 8:54 Create Virtual Machine 8:54 - 10:47 Update the Virtual Machine 10:47 - 11:23 Install Dependencies 11:23 - 11:40 Install Miner Package 11:40 - 12:30 Get BTC Wallet Address 12:30 - 14:20 Execute Mining Script 14:20 - 16:53 #slushpool #gcp #btc -- Commands -- sudo apt-get install -y make apt-get install binutils apt-get install build-essential apt-get install zlib1g-dev ./autogen.sh ./configure ./build.sh ./cpuminer -a sha256d -o stratum+tcp://us-east.stratum.slushpool.com:3333 -u dataslayer42.workerName -p tESTING1234 apt-get install htop htop Mining Pool https://slushpool.com/en/home/ Mining Script https://github.com/tpruvot/cpuminer-multi How a Mining Pool Works Individually, participants in a mining pool contribute their processing power toward the effort of finding a block. If the pool is successful in these efforts, they receive a reward, typically in the form of the associated cryptocurrency. Rewards are usually divided between the individuals who contributed, according to the proportion of each individual's processing power or work relative to the whole group. In some cases, individual miners must show proof of work in order to receive their rewards. Rewards are usually split among the miners based on the agreed terms and on their respective contributions to the mining activity. Anyone who wants to make a profit through cryptocurrency mining has the choice to either go solo with their own dedicated devices or to join a mining pool where multiple miners and their devices combine to enhance their hashing output. For example, attaching six mining devices that each offers 335 megahashes per second (MH/s) can generate a cumulative 2 gigahashes of mining power, thereby leading to faster processing of the hash function.