How to Mine Bitcoins Using Your Own Computer


Hey guys.
I’m John from 99Bitcoins
and today I’m going to teach
you how to mine bitcoins at home
using your very own computer
in just a few simple steps.
Now if you’ve heard about Bitcoin
you’ve probably heard about Bitcoin mining.
Bitcoin mining is the process of
turning computing power
into actual Bitcoins.
It allows you to generate Bitcoins
without the need to actually buy them.
Now a lot of people would say that
mining cannot be done at home
because you need
very expensive equipment
in order to start mining.
This is not entirely true.
Any computer can be used to mine Bitcoins,
even the oldest and the weakest laptop
you have lying around at home.
Actually not too long ago
a successful experiment was made
wherein a 55 year old IBM computer
was used to mine Bitcoins.
Anyway, whenever you start looking for
guides on how to mine Bitcoins
it’s always very technical
with terms like “hash-rate”
and “SHA-256”
and all sorts of other weird stuff.
So you find yourself
struggling with these terms
until you finally just give up on
the notion of mining Bitcoins all together
and, you know, just move on.
Now the good news is that
you can mine bitcoins at home,
using any computer you have lying around
in a simple and easy process.
The only thing that you need is
just a computer
with internet access of course
and personally I’d suggest using a computer
that is not doing anything else
because once you start doing this
it’s going to be
pretty demanding on the computer
and it’s going to
slow it down substantially.
So first, go to www.Bitminter.com.
On the nav bar select “Join” and create an account.
Make sure to remember your username
as you will be using this
in the following steps.
Then go to “tools”,
“Bitminter client”
and choose “latest update”.
This will download a file to your computer
so you can start mining Bitcoins.
Once the file has finished downloading
just run it and follow
the simple installation instructions.
It doesn’t matter if you’re on a Mac,
Windows or Linux computer,
the program will run smoothly
on any operating system,
you just need to make sure
you have Java installed.
If you don’t,
the program will ask that
you install it once you run it.
Once the program is up
click “Engine start”,
enter your username and Voilà!
You are now mining Bitcoins
from your home computer.
A few important things before we conclude.
Make sure to keep your computer cooled down
using a fan or a dedicated cooling device
because if you don’t
it may overheat and damage itself.
You’ll also notice that
if you mine on your home computer,
you’re probably mining very slow
and won’t get enough Bitcoins to even cover
the electricity cost of running the computer.
For example, on my computer,
I made about 13 satoshis
after a full day of mining.
If you want to calculate
how many Bitcoins you can mine
on your own computer,
just use a mining calculator
and enter your processing speed.
You can see your processing speed
at the bottom right side of
the Bitminter program.
If you want to increase
your mining rate,
you can always attach dedicated
bitcoin miners to your home computer.
Today’s Bitcoin miners
are known as ASIC miners.
ASIC stands for Application Specific
Integrated Circuit
and it’s basically
an ultra-powerful computer
designed for just mining Bitcoins.
You can find many used miners on eBay
or you can just buy one online.
To sum things up,
you can still mine bitcoins at home
using any old computer.
You’re not going to be very efficient
but if you want to get a taste of
what it means like to be a Bitcoin miner,
you can do so in just 2 minutes
using the technique we just discussed.
If this video helped you out,
I’d appreciate you liking it,
tweeting about it
or sharing it on Facebook.
I’ll see you in the next video.

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