Bitcoin Forum

Hi guys, sorry for this lol question but I have read every tutorial for bitcoin mining and I dont have very clear how to mining.
I have a computer (normal computer) I want to test this thing of mining and if it works, I will buy an antminer s4 or similar.
I tell you what I did:

1) I installed bitcoin core as local wallet and sincronized, its up to date.
2) I installed P2Pool and its running well I think
3) then I installed bfgminer and runs with the command bfgminer.exe -o http://127.0.0.1:9332 -u user -p password, I suposed its working fine but:
   a) I dont know how to send the payments to my local wallet
   b) I dont know what user should I use (the password its not necesary for the bfgminer)

I cant understand when and how the payments go online and when and how goes local... I want to have it locally.

Sorry if this question its very stupid...
and thanks a lot guys.

best regards.

Just fyi: what you try to do is some sort of solo mining. With a normal computer.. you have 1000000 times better chance to win the lottery than to mine a block.
One of the reasons bfgminer asks for user/password is because it expects you to mine in a pool.

The easiest way to try out mining is (I tried that more than 1 year ago) :
* install guiMiner (and the required drivers for GPU mining)
* create account on a pool (slush pool?) and mine there.

I mined for less than a month and a faucet gives more than what I've got back then. I was never able to actually withdraw.
You'll need a specialized miner to actually do something.



If you really want to try out solo mining (or if you really want to make a local pool) you should try some bitcoin clone altcoin with low difficulty.

I don't believe you will get any payment using cpu/gpu to mine even if you mine on a pool. The difficulty already too high.
Of course the mining work if you use asics to mine. You even don't need computer if you buy antminer  :)

Depending on the pool, he might see for each block a very few satoshi coming into his pool account.
But yeah, no chance to actually withdraw.

Better cloud mine or not mine at all then ;)

If you're running the p2pool node locally, it has already attached itself to your local bitcoin daemon - assuming of course that you set everything up properly.  When you fire up your miner, you use a BTC address as the user name, and anything you want as a password.

Now, I'm guessing you're using your computer's GPU to mine and bfgminer should be reporting some speed of MH/s.  Chances are EXTREMELY slim that you're going to find any shares that get added onto the chain.

Don't waste your money buying mining ASICS, buy BTC directly instead ;)

It varies per each person.  Such independent variables.   Yes you do need cheap electricity though.

But I would not make a complete blanket statement best for all.

OP said this


so it's a total waste of money, but it's just my opinion.