Published on May 13th, 2022
Many people say that mining cryptocurrencies are very profitable, and if the value of the crypto coins rises that you are mining, you make a massive profit, and it is true.
But many people see the returns on mining, and no one talks about the cost behind mining because everyone cannot bear the cost of mining rigs.
The more become the currency popular, the more need for the hash contribution that will increase the cost, and it is precisely in the cash of bitcoin mining since the cost is very high of this crypto.
Miners have to use heavy and powerful equipment that a standard computer cannot bear, so the other option remains bitcoin gold mining, allowing everyone to mine this coin that you can read how – Yuan Pay Group App .
What Is Bitcoin Gold?
Bitcoin gold crypto coins have the same feature as the original bitcoin, but the difference is in the mining process.
The current value of BTG (bitcoin gold) is thirty-four dollars which is a minor part of the bitcoin’s value which is around 40,300 dollars for one bitcoin.
The supply is the same, i.e., twenty-one million BTC available on the network and twenty-one million BTG available. The thing that varies between bitcoin is demand and supply.
Why Is It Difficult To Mine Bitcoin
Since no government or other financial institutions are maintaining the bitcoin system, miners have to contribute to the blockchain system by using electric power known as the hash rate or power of the computer to give supply per second.
Since it is tough to solve, mining requires a lot of energy or power to mine bitcoin, and it is not possible through a regular computer or laptop. So there is a need for the specified mining machines known as the ASICs that you have to set up before bitcoin mining.
But the BTG allows everyone to make money by not investing in the ASICs machines, i.e., you can begin mining on a regular computer or laptop without requiring ASICs hardware. This feature of BTG makes it unique and creates employment for everyone.
Bitcoin Golds Mining Requirements
There are the following two things required for bitcoin gold mining, and there are many things included in these two things given below:-
1. Hardware: As we read, you can use a regular computer or laptop for BTG mining because there is less requirement of the hashrate contribution that will not heat your desktop like bitcoin mining heats. BTG mining is easy through standard computers, but there are hardware requirements for serious money if you want to make it. You need a decent central processing unit (CPU) for smooth functioning and a Graphics Processing Unit (GPU). It is mandatory for the mining; otherwise, the heating will destroy your regular computer. The GPU is a hardware machine-like ASIC for bitcoin gold mining, and you cannot ignore that to save money from it. A cooling system is also required for an extended upkeep period; otherwise, you have to spend money again to build a new desktop with all the hardware parts. There are some other parts that you should consider SSD storage, cooling fans, and good RAM (Random Access Memory), and you can also use a gaming desktop for the BTG mining.
2. Software:- There is no use of the computer hardware if you are not connected with the backend of the bitcoin gold for mining. It is like if you have all the tools for repairing a car but you cannot reach the detective part of it; hence there is no use of the tools you have. So the BTG mining software will help your hardware connect with the backed, i.e., blockchain, to solve the blocks by using the hashrate of your resources. There is some software, such as hashflare, nicehash ccgmining, etc., that you can download and use for BTG mining.
If you are a solo miner or beginner in BTG mining, you have to connect with the pool, which means when you contribute to the mining, other nodes will also use your computer’s hash power for mining. The reward will be divided according to the contribution. Suppose you will not go with the pool system. In that case, you have to compete with all the other bitcoin gold miners and contribute a lot in hashrate that is impossible for a solo miner through a single computer. You have to establish a BTG mining farm by installing multiple nodes, which will cost you a lot.