The development of devices on integrated circuits (asic) neutralized Satoshi Nakamoto’s idea of ”one vote for one processor.” The gold hard fork of bitcoin on the new Eqihash 144.5 algorithm is intended to solve the problem of centralization of the main cryptocurrency.
The coin split from the BTC blockchain in 2017. Initially, the bitcoin gold algorithm was slightly different, the coin worked on the same hash algorithm as the Zcash altcoin. But when the asik miners got to zikesh, bitcoin gold changed the encryption method from ordinary Equihash to Equihash-BTG.
What you need for mining
The Bitcoin Gold algorithm, inaccessible to the sharks of the cryptoindustry, creates conditions for the development of consumer mining. How to get Bitcoin Gold? There are two options for purchasing BTG.
1. Purchase for fiat or virtual money on a cryptocurrency exchange. The largest trading platform working with BTG is the exchanger BithumbThere they sell and buy Bitcoin Gold, for KRW (South Korean won). The coin is present on 20 cryptocurrency services.
2. Investment in mining, that is, the purchase of equipment for mining BTG. GPUs with 3 GB or more video memory work with the Bitcoin Gold algorithm. Green and red cards are suitable, but mining Bitcoin Gold on GPU devices from Nvidia is more productive.
What is the hashrate of Nvidia and AMD cards on the Equihash 144.5 algorithm
The speed of decryption of Bitcoin Gold algorithm on popular models of video cards.
| Nvidia | AMD | ||
|---|---|---|---|
| Model | Hashrate | Model | Hashrate |
| GTX 2080Ti | 90 sol/s | Radeon Vega 64 | 34 sol/s |
| GTX 2080 | 74 sol/s | Radeon Rx 580 | 27 sol/s |
| GTX 1080Ti | 63 sol/s | Radeon Rx 480 | 22 sol/s |
| GTX 1070 | 43 sol/s | Radeon Rx 570 | 20 sol/s |
| GTX 1060 | 27sol / s | Radeon Rx 470 | 18 sol/s |
The data clearly proves that Nvidia graphics cards are Bitcoin Gold algorithm undisputed leaders, far behind their competitors.
How to choose BTG wallet for mining
A list of btg wallets is available on the developer’s website. The official bitcoin gold wallet has a huge blockchain size (150GB). If you want to use a dectoscopic bitcoin gold wallet, but there is not enough space on your hard disk to Core Wallet, download the simplified version ElectrumG.
Wait until BTG wallet online is fully synchronized. Android applications are great as a bitcoin gold wallet Look, Coinomi and Freewallet.
Increased security of digital assets will be provided by hardware wallets Safe Wallet and Ledger Wallet… Flash devices are inaccessible to hackers, and if necessary, they can be quickly connected to a computer to conduct a transaction.
Mining
Gold bitcoin is mined by the owners mining farm… The central processor for earning bitcoin gold is not used due to the high complexity of the calculations.
What ASICs for BTG mining
Btg mining has 17x higher memory requirements compared to Zcash mining. This means that at this stage of technological development, production ASIC working on the bitcoin gold algorithm is practically not profitable.
Which Pool to choose
12 virtual mines are digging a coin. We advise you to choose popular pools, little-known services often cheat or may delay payments to users.
List of popular Bitcoin Gold mining pools:
1. Miningpoolhub – has European, Asian and American servers. Payment systems PPLNS, registration is required to join the pool.
2. 2Miners pool —1200 miners work here. The service is very loyal to newbies, it has a Russian-language interface and good technical support.
3. Suprnova – popular bitcoin gold mining pool with mandatory registration. 1400 miners are engaged in btg mining.
4. Btgpool.pro – the fourth largest Bitcoin gold mining pool, there is Russian-language support on Discord.
On servers 2Miners and Btgpool.pro possible mining btg solo. A mining rig consisting of 10 Nvidia 2080Ti GPUs will be able to find a block of gold bitcoin (12.5btg) in about 18 days and 19 hours.
How to set up a mining farm?
The choice depends on the manufacturer of the video cards. Utilities are suitable for Nvidia GPUs EWBF, Gminer and Funakoshi miner… Radeon GPUs mine bitcoin gold using Lolminer. You can download new software releases on the Bitcointalk forum.
Bat file configurations
Sample bat file for EWBF bitcoin gold miner:
:restart
@echo off
TIMEOUT 3
miner.exe —algo 144_5 —pers BgoldPoW —server us-east.equihash-hub.miningpoolhub.com —port 20595
—user altcoinlog.btg —pass 123 —pec —fee x —log 2 —eexit 1
ping 127.0.0.1> null
goto :restart
With this configuration, the bitcoin gold miner will restart itself in case of a failure.
MSI Afterburner overclocking parameters for Nvidia 1070Ti (Samsung) cards:
- PauerLimit 75;
- Core Clock +125;
- Memory Clock +500.
Overclocking values depend on the graphics accelerator model and memory manufacturer. Bitcoin gold algorithm is picky about the size of RAM, if miner does not start recommended expand virtual memory.
To launch Bitcoin Gold Lolminer, open user_config and enter the address, name and password of your miner.
]},
«EXAMPLE_BTG» :
{
«COIN» : «BTG»,
«POOLS» :[[
{«POOL» : «europe.equihash-hub.miningpoolhub.com»,
«PORT» : «20595»,
«USER» : «altcoinlog.btg»,
«PASS» : «123»},
{«POOL» : «btg.2miners.com»,
«PORT» : «4040»,
«USER» : «GaxMvjh6aa5eBtXwLy6bBUvRdPAkJGjGvt.rig1»,
«PASS» : «x»}
Lolminer supports the mining of multiple cryptocurrencies. In file run.miner.bat prescribe altcoin BTG:
- Rem Insert your configuration file name here set «PROFILE=EXAMPLE_BTG»
Save changes and run run.miner.bat, if everything is done correctly, the miner window will appear.
On AMD Radeon graphics accelerators, the use of a bitcoin gold miner is of little benefit. Algorithm mining is preferable Ethash and Cryptonight.
Profitability of mining, what you need to know
Calculate bitcoin gold mining profit on the WhatTmine calculator. Gold bitcoin is not profitable to mine on budget video cards such as GTX 1050 and even more so on low-power Radeon graphics accelerators. The btg algorithm is sensitive to power limiting. Bitcoin Gold mining profit depends on Power Limit, but be careful not to overheat your graphics card.
The Bitcoin Gold project is one of many attempts by the cryptocurrency community to return to decentralization of the blockchain network and speed up the transfer of coins. This is especially true for bitcoin with its slow transactions and total occupation by industrial mining giants.
Bitcoin gold is firmly afloat and is still inaccessible to ASIC miners. Mining btg is profitable even during a period of stagnation in the virtual asset market. Time will tell whether the coin will be able to replace Bitcoin in the future, or the BTC and Bitcoin gold networks will complement each other.
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