- 1 Dash Mining – How Can I Get Involved?
- 1.1 Dash Mining: A Complete Guide That Tells You How to Mine, Install and Use Dash
- 1.2 First a Few Words About ASICs
- 1.3 Profitability
- 1.4 Increasing Degree of Difficulty = Reduction of the Number of Coins Produced = Decrease in Income
- 1.5 Configuration of the Bitmain Antminer D3 ASIC
- 1.6 Mining Bitcoin as a Byproduct with Antminer D3 on the Stock Exchange NiceHash
- 1.7 Mining a Cryptocurrency Based on the X11 Algorithm: Dash, MUE, and Others
Dash Mining – How Can I Get Involved?
The world has been hit by a wave of Dash mining. This coin has experienced steady growth and manufacturers have released several effective ASICs models for dash mining. The sellers realized that this was a profitable business and started buying ASIC mining hardware in bulk to sell them to the miners at a solid premium.
But even high prices did not bother the miners because it was profitable.
The appearance of new ASICs always causes some chaos on the market; everything changes dramatically and the emergence of ASICs for the X11 algorithm (on which dash mining is based) was certainly no exception.
Dash Mining: A Complete Guide That Tells You How to Mine, Install and Use Dash
Dash is an alternative cryptocurrency with a focus on confidentiality and transaction processing speed (transactions are confirmed within one second). Today we will consider how to mine Dash. Unlike Bitcoin, which uses the SHA-256 algorithm for mining, Dash is based on the X11 algorithm.
First a Few Words About ASICs
Ethereum, Zcash and Monero mining takes place on GPUs, but a few coins, including Bitcoin and Dash, are mined on specialized computers called ASICs (Application-Specific Integrated Circuits). ASICs are a hundred times more powerful than GPU platforms and they are “hard-coded” to perform a single function – the mining of cryptocurrency.
The question arises as to why you should enter this expensive business if you can just buy the coins. The answer is that in the long run, these computers can bring considerable profits as they continue to work. However, their lifespan is usually shorter than that of GPU platforms.
The fact is that the computational complexity of the networks in which they are used is growing even as the remuneration for work on a block is falling. This decline in profitability can be compensated by the increase in the value of the coins and that happens even with Dash mining.
Earning more is, therefore, always a possibility. However, we mustn’t forget that the price of coins can fall, so that many won’t be able to afford the mining equipment. This can only exacerbate the effect on the miners.
Increasing Degree of Difficulty = Reduction of the Number of Coins Produced = Decrease in Income
The miner needed for dash mining is Bitmain Antminer D3 ASIC. This article explains how to configure and use it.
Configuration of the Bitmain Antminer D3 ASIC
Remove the Miner D3, power supply, and cable from the package.
Connect all ports: All 10 PCIe ports (3 on each board and 1 on the controller). Connect the Ethernet cable from D3 to your router. Plug in the power cord. The miner should turn on automatically.
Download the free utility Advanced IP Scanner. Install and start the scan with the Advanced IP Scanner (click on “Scan”). Locate the “Antminer” and make a note of the IP address (example: IP – 188.8.131.52). If the Antminer was found, go two steps further.
If it does not appear, quit the test and disable Windows Firewall. Then start the scan again. Now that the Antminer IP address has been found, enter this IP address in the browser. Use Chrome or another browser. Use root as username and password.
If you had to disable Windows Firewall in the previous steps, turn it back on.
Mining Bitcoin as a Byproduct with Antminer D3 on the Stock Exchange NiceHash
It’s a fact that the D3 Antminer allows you to indirectly mine Bitcoins. It works as follows: You can mine a calculation algorithm for X11, NiceHash sells the result of these calculations at auction and the buyer pays you in BTC.
On the Antminer Mining configuration page, please enter the following servers:
Pool URL: stratum + tcp: // x11. Usa. Nicehash.com: 3336 # xnsub, Worker: walletaddresse.workername
PASSWORD: X. Note: You can use any Bitcoin address you control and any username. It is important that you separate them by a dot. You can use a server in the US, EU or Japan – use the best option based on your location.
Pool url: stratum + tcp: // x11 eu.unehash com: 3336 # xnsub. Worker: 37UPzLMoFE7i41qChPPXh7RxPprXWyMZBy.Your CoolAntminerD3
PASSWORD: X. The settings on the miner configuration page of the Antminer are finished. Click on “Save & Apply” in the lower right-hand corner and you can mine Bitcoin!
Mining a Cryptocurrency Based on the X11 Algorithm: Dash, MUE, and Others
This article further describes Dash mining using the example of the multipools. Register, login, and go to the “Account> Balances” tab. Enter the wallet addresses for the desired cryptocurrency (Dash, MUE or CANN is recommended).
Go to “Account> Workers”, click “Add Worker”, and enter a name. Click on “Home”, scroll down and find the URL of the server of the currency you are about to mine. Copy this address.
Return to the miner configuration page of your Antminer and paste this address and the name of the worker. The password must be “X”. Click on “Save & Apply” in the bottom right-hand corner. Now you can mine the chosen cryptocurrency!
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.