Bitcoin essentials : gain insights into Bitcoin, a cryptocurrency and a powerful technology, to optimize your Bitcoin mining techniques / Albert Szmigielski.

Description based on online resource; title from cover page (Safari, viewed March 11, 2016).

Includes index.

Cover ; Copyright; Credits; About the Author; About the Reviewer; www.PacktPub.com; Preface; Chapter 1: Bitcoin Wallets and Mining Software ; Bitcoin wallets; What is a Bitcoin wallet?; Why do we need Bitcoin wallets?; Types of wallets; Software wallets; Hardware wallets; Full wallet versus thin client; Hosted wallets; Wallet security; Mining software; The need for mining software; What does mining software do?; Which mining software to choose?; Summary; Chapter 2: CPU Mining ; Mining with Bitcoin Core; Mining software; Let's start mining; Pros and cons of mining; Pros of mining

Cons of miningBest practices when mining with CPUs; Profitability of mining; Summary; Chapter 3: GPU Mining ; Setting up a GPU for mining; Drivers; Mining software; Windows installation instructions; Linux installation instructions; Let's start mining; Multiple GPU setup; Mining on a GPU; Pros and cons of GPU mining; Pros of GPU mining; Cons of GPU mining; Best practices when mining with GPUs; Benchmarks of mining speeds with different GPUs; GPU versus CPU mining; Profitability of GPU mining; Summary; Chapter 4: FPGA Mining ; Setup and installation of the required software; Mining software

Linux installation instructionsWindows installation instructions; Let's start mining; What happens when mining on a FPGA; Pros and cons of FPGA mining; Pros of FPGA mining; Cons of FPGA mining; Best practices when mining with FPGAs; Benchmarks of mining speeds with different FPGAs; FPGA versus GPU and CPU mining; Profitability of FPGA mining; Summary; Chapter 5: ASIC Mining ; Setting up mining software; Drivers; Mining software; Installing cgminer on Linux; Installing cgminer on Windows; Let's start mining; What happens when mining on a ASIC; Pros and cons of ASIC mining; Pros of ASIC mining

Cons of ASIC miningBest practices when mining with ASICs; Benchmarks of mining speeds with different ASICs; ASIC versus FPGA, GPU, and CPU mining; Profitability of ASIC mining; Summary; Chapter 6: Solo Versus Pool Mining ; Solo mining; Setting up a wallet for solo mining; Setting up mining software for solo mining; Setting up mining software for pool mining; Pool mining discussion; Mining pools; Choosing a pool; Solo versus pool mining; Profitability; Majority attack on Bitcoin; 51% attack; Summary; Chapter 7: Large Scale Mining ; Large Scale Mining overview; Large Scale Mining challenges

Inexpensive and reliable electricityGood network connectivity; Access to latest hardware; Stable political climate; Bitcoin exchange rate; Cooling of mining hardware; Large Scale Mining operations; BitFury; KnC Miner; 21 INC; Mega Big Power; Genesis Mining; Other mine operators; Summary; Chapter 8 : The Future of Bitcoin Mining; Overview of the current state of mining; Further centralization of mining; Hardware arms race; Halving of the reward; Consolidation, mergers, and acquisitions; Bitcoin exchange rate; Quantum computing and mining; Cracking the security of SHA-256

Gain insights into Bitcoin, a cryptocurrency and a powerful technology, to optimize your Bitcoin mining techniques About This Book Learn how to use the advanced features of Bitcoin wallets Set up your Bitcoin mining operations to mine with efficiency Explore what the future holds for mining and blockchains in this pragmatic guide Who This Book Is For If you have never mined before, this book will ensure that you know what mining is all about. If you are familiar with Bitcoin mining, then it will help you to optimize your mining operations at a deeper level. A basic understanding of computers and operating systems is assumed, and some familiarity with cryptocurrency basics would be an added advantage. What You Will Learn Get introduced to Bitcoin mining from the ground up Find out about mining software and the different types of mining hardware Master setup techniques to enable efficient mining Examine the pros and cons of the different types of mining hardware Deduce the differences between solo and pool mining Take a peek into professional mining farms Explore the future of mining and blockchain-based applications In Detail Blockchain is being billed as the technology of the future. Bitcoin is the first application of that technology. Mining is what makes it all possible. Exploring mining from a practical perspective will help you make informed decisions about your mining setup. Understanding what the future may hold for blockchains, and therefore for mining, will help you position yourself to take advantage of the impending changes. This practical guide starts with an introduction to Bitcoin wallets, as well as mining hardware and software. You will move on to learn about different mining techniques using the CPU, GPU, FPGA, and ultimately the ASIC as an example. After this, you will gain an insight into solo mining and pool mining, and see the differences between the two. The book will then walk you through large-scale mining and the challenges faced during such operations. Finally, you will take a look into the future to see a world where blockchain-based applications are commonplace and mining is ubiquitous. Style and approach This is a practical guide that includes detailed step-by-step instructions and examples on each essential concept of Bitcoin mining.

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