Bitcoin Mining using Raspberry Pi.pdf

8/17/2019 Bitcoin Mining using Raspberry Pi.pdf

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ssarthak598

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Bitcoin Mining using Raspberry Pi by ssarthak598 (/member/ssarthak598/)

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Getting to know

Raspberry Pi

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Breadboard Adapter for

the Raspberry Pi

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Step 1: What is BitCoin?

If you don’t know already, Bitcoin is a virtual currency set up in 2009. Bitcoin has

grown in reputation over the past few years becoming a very popular as a method

to pay for services over the internet. The value has rocketed recently thanks to the

huge coverage in the media, for both positive and negative reasons.

There are two ways to get Bitcoin:

-Buying them from an exchange, which is the process of converting local currency

to Bitcoin.

-Mining them. Mining is the process of verifying transactions in the blockchain.

As the whole of the Bitcoin system is decentralised, every transaction is publically

viewable within what is called the blockchain. This blockchain contains every bitcoin

exchanged between users so, as there is no central server, it has to be self

governed. This is the job of the miners.

Step 2: Requirements

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In order to mine Bitcoin, you will

A pool account

Bitcoin Wallet

Raspberry Pi

Raspbian image SD card

USB Bitcoin miner

Step 3: Creating an Account

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There are two things you need to do:

Download a bitcoin wallet

Create a pool account

Set up paymentSet up workers

Download a Bitcoin Wallet

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A wallet is a program that sits on your computer and gives you a wallet address,

this is a unique string of numbers and letters that you will use to receive bitcoins.

Download the client for your computer from https://bitcoin.org/en/download

(https://bitcoin.org/en/download)

After installation, you will have to save a file called wallet.dat, keep this file safe, as

this contains your unique wallet address within it, including all bitcoins that you will

gain. If you lose this file, you cannot recover any bitcoins it contained.

Create a Pool Account Once you have a wallet address, create a pool account. A

pool is a huge collection of other people working towards gaining bitcoins. Due to

the complexity of mining a bitcoin, it has become unrealistic to solo mine–the act of

processing millions of numbers to solve the block problem. Working as a group, or

pool, lets everyone have a chance of earning some Bitcoin. There are many pools

around, in this tutorial I’ll be using one called Slush’s pool:

https://bitcoin.org/en/download (http://mining.bitcoin.cz/)

Set Up Payment

Once you have created a pool account, you'll need to enter your unique wallet

address into the Bitcoin payout address.Create Worker Account

Next step is to create a worker login account. Within your pool account you have

the ability to create something called a worker for each of your bitcoin miners, so

you're able to monitor them all separately just in case one should fail.

Each worker has its own login name and password. Whilst you are on My

Accountclick Register New Worker and give it a name, for example; worker, and a

password. Now you're ready to set your Raspberry Pi mining for Bitcoin.

Step 4: Setting Up the Raspberry Pi

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Start with a fresh Raspbian install, if you don’t know who to do this, read the tutorial

How to Install NOOBS on a Raspberry Pi With a Mac.

If you plan on running more than one Bitcoin miner at the same time, it is best to

use a powered USB hub. Take into account the power rating as mining will need alot of power, as much as one mp per miner.

With your USB miner attached to your Raspberry Pi, let’s get everything installed.

Step 5: Installing Required libraries

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The miner to be installed comes as source fi les, which means that the program

must be compiled into a binary before it can be run. To make a program, in this

case BFGMiner, many dependencies are required.

Dependencies are additional software, or libraries the program needs in order to

compile properly, as it has been developed using them to make the software more

efficient. Hopefully you will be seeing the Raspbian desktop, so double click on

LXTerminaland type in the following:

1) sudo apt-get update

2) sudo apt-get install autoconf autogen libtool uthash-dev libjansson-dev

libcurl4-openssl-dev libusb-dev libncurses-dev git-core –y

This process will take a few minutes to complete.

Step 6: Installing BFGMiner

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Once all the dependencies have been installed, now it is time to download and

install BFGMiner, so type the following into LXTerminal. It’s normal for these to take

a few minutes to complete so some patience is needed.

git clone https://github.com/luke-jr/bfgminer.git (https://github.com/luke-

jr/bfgminer.git)

cd bfgminer

./autogen.sh

./configure

make

You will be greeted with a screen that looks similar to the following:

Step 7: Start Mining Bitcoin

https://github.com/luke-jr/bfgminer.git


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Now you’re ready to start mining. To do this, providing you're using Slush’s pool,

you’ll use the following command:

./bfgminer -o stratum.bitcoin.cz:3333 -O username.worker:password -S all

The username section is composed of two parts, the username that you use to

login to the pool, and worker which is the worker name you gave when you

registered the worker. Finally, the password that was set when you created the

worker.

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That’s a lot of numbers, so I’ll make some of them a bit clearer.

Current mining speed, typically calculated in megahashes or gigahashes. The

number of hashes a second that can be calculated the better. A hash is an

algorithm of converting numbers and letters into an undecryptable set of

characters. So a miner is used to process millions of numbers in an effort to match

the hash to guess the original number. The more hashes that can be processed the

faster it is able to solve the problem.

Number of accepted shares. A share on a pool is to show the miner has

successfully worked out a given problem, so the more shares you can process thebetter your reward from the pool.

Detailed information on accepted shares and pool updates. This is a running

log of what is currently happening with the miners and basic pool information, such

as messages of updates and when new blocks are found.

More information can be found at the BFGminer github site.

Step 8: Conclusion


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We have a be nice comment policy.

Please b e pos itive and constructive. I Made it! Add Images Make Comment

(/member/Davak72/)

4 hours ago Reply

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1 hour ago Reply

(/member/gregjd5000/)

10 minutes ago Reply

(/member/fuzzyhypothesis/)

yesterday Reply

For more information there are a number of websites and forums available, such

ashttps://bitcointalk.org/,to help get you started.

Davak72 (/member/Davak72/)

"as much as one mp per miner" I'm not quite sure what you mean here. mp is nota unit of power, or even of current. Perhaps you mean mA, but that's not much

power at 5 mW. The raspi can supply 100 mA of current to each USB port, so it

would probably be more than that.

LiGhTMaGiCk (/member/LiGhTMaGiCk/) Davak72

The author probably meant to say "Amp" and the "A" got left off. it

happens.

gregjd5000 (/member/gregjd5000/) LiGhTMaGiCk

Still, it probably uses more than 1mA. He asked a valid question

fuzzyhypothesis (/member/fuzzyhypothesis/)

Nice write up. I have to ask, is it work using a RPi for mining? Even with a cluster

of RPis, I wonder if using graphics cards are a better solution.

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(/member/olliedog12000/)

20 hours ago Reply

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5 hours ago Reply

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3 hours ago Reply

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4 hours ago Reply

(/member/bobsmith652/)

4 hours ago Reply

olliedog12000 (/member/olliedog12000/) fuzzyhypothesis

The Rpi is the controller and the data link betweenthe miners (asics) and the pool/blockchain. I run a

Rpi with a bigger asic than what is in the picture but

for me in the UK there is no real chance of a profitunless the bitcoin price rockets again.

fuzzyhypothesis (/member/fuzzyhypothesis/) olliedog12000

OK that makes a bit more sense. Do you have any

information on the ASICS you use?

FKINGLAG (/member/FKINGLAG/) fuzzyhypothesis

Block Erupter ASIC usb miners and the ones like them will never pay for

themselves in terms of the return on your investment because they have a

ridiculously-low hash-rate. A hashing rate is how powerful the device cancrunch numbers. Even a cluster of these things wouldn't be enough for a

return on investment because they are no longer efficient/powerful enough

to compete with the other ASIC mining devices that are exponentiallymore efficient/powerful. Which, also means they are more expensive.

However, you may use a Pi as a controller for ASIC devices that aresupported. Most ASIC devices have their own embedded controller, now-

a-days, though.

olliedog12000 (/member/olliedog12000/) fuzzyhypothesis

I use a new R-box 2 which when overclockwd runs at

140ghs which is good considering it's listed at 100-

110ghs. If I'm lucky I might pull £2.50 out every 10-12days. like I said no money in it now.

bobsmith652 (/member/bobsmith652/) fuzzyhypothesis

They are "USB Block Erupters" (that is how they spell

it) if you want to google them.

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4 hours ago Reply

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3 hours agoReply

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4 hours ago Reply

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4 hours ago Reply

bobsmith652 (/member/bobsmith652/) fuzzyhypothesis

A graphics card producing the same 333MH/s as

these modules will use around 150W. The USB

modules use 2.5W. You will also have an extra 100Wfor the PC.

jbignell1 (/member/jbigne ll1/)

With such low power could you set up a solar bank for power production and cutout that cost?

jbignell1 (/member/jbigne ll1/)

What a great project and a fun way to start mining.

jeff96 (/member/je ff96/)

Excellent write up and explanations. It's a cool project. What I don't understand is

it appears that diy bitminers seem to be investing to contribute to the bitcoinprocess but it won't ever break even. What's worse, as the system requires ever

increasing hash rates which makes this equipment obsolete.

I'm not meaning to troll. Is it more of a " I can do this because i t's kinda neat"

thing?

br0x (/member/br0x/)

You must mention in your article that mining is not profitable anymore, unless you

have free electricity (that is stealing it), but in that case stealing money should beconsidered as more effective solution :)

dirty_valentine (/member/dirty_valentine/)

Interesting project. What kind of rate are you seeing for your setup (Bitcoins / day)and how long do you expect it to take until you see a return on your investment at

the current Bitcoin valuation? If more people start doing the same thing will that

http://www.instructables.com/member/jbignell1/http://www.instructables.com/member/jbignell1/http://www.instructables.com/member/jbignell1/http://www.instructables.com/member/br0x/http://www.instructables.com/member/bobsmith652/http://www.instructables.com/member/jeff96/http://www.instructables.com/member/bobsmith652/http://www.instructables.com/member/jeff96/http://www.instructables.com/member/br0x/http://www.instructables.com/member/dirty_valentine/http://-/?-http://www.instructables.com/member/dirty_valentine/http://www.instructables.com/member/jbignell1/


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(/member/fred3655/)

22 hours ago Reply


4 hours ago Reply

(/member/mhartnett/)

23 hours ago Reply


4 hours ago Reply

(/member/diy_bloke/)

5 hours ago Reply

(/member/asd123e/)

5 hours ago Reply

cut into your Bitcoin rate or are there plenty of jobs?

fred3655 (/member/fred3655/)

Any idea of kWh usage versus bitcoin production?

bobsmith652 (/member/bobsmith652/) fred3655

Each USB module is 2.5W, and gets 333MH/s, or $0.02 in bitcoin per month . Add about 10-20W for the Pi, USB hubs and PSU losses and

work out your cost of electrici ty from that.

mhartnett (/member/mhartnett/)

What sort of money per day/week are you looking at so far?

bobsmith652 (/member/bobsmith652/) mhartnett

$0.02 per month per USB device. Unless you get free electrici ty, you willbe making a loss.

diy_bloke (/member/diy_bloke/)

interesting article.I was just wondering, with an average usb miner costing say 50 USD and an Rpi

say 40 USD, did you already break even?

I really have no idea how long it would take to mine a bitcoin r wether that is evena predictable time

asd123e (/member/asd123e/)

Great project for hobby solo miner (not in pool tho). But as money maker - Sorrybut this is way to 2012... Today ~400$ gives ~1,1Th, noone is talking about Gh

anymore... it will consume more electricity than make money... But if you are solo

miner you could hit a lottery and win few bitcoins by luck.

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Bitcoin Mining using Raspberry Pi.pdf