4 ms·
Bitcoin miners use specialized hardware designed for mining. There is no special algorithm to make mining faster or more efficient and that is by design. Bitcoi
by BitwiseFool 5y ago
Bitcoin miners use specialized hardware designed for mining. There is no special algorithm to make mining faster or more efficient and that is by design. Bitcoin is meant to take a lot of work to mine. Bitcoin also adjusts itself automatically so that each mined block takes roughly 10 minutes to find. There is no avoiding this.
The specialized mining rigs are very expensive and they have facilities with thousands of them running in parallel. It hasn't been feasible to mine bitcoin as an individual since around 2012. You can still do it though, but the odds of you finding a block are so infinitesimally slim that you're basically wasting all your time and money. You could join a pool, but with so little computing power your share of any reward will be incredibly slim. Sadly, I do not recommend trying to mine any cryptocurrencies.
- mam3 5y agoWhat about mining other coins .. ? Doge ?
- ASalazarMX 5y agoThis is why we have seen so many new altcoins popping up, it's like rewinding time so you get most of the coins instead of Satoshi getting them first.
- tromp 5y agoDoge uses hashcash with scrypt instead of double SHA256 as PoW. So you need scrypt ASICs to mine Doge (and Litecoin at the same time, as they can be merge mined).