X11 Mineable Coins – How to Mine X11 Coins with CPU/GPU/ASIC

What is X11 algorithm and How to Mine X11 Coins

X11 algorithm was developed by Dash (formerly Darkcoin) developers and its called a Proof-of-Work (POW). The algo was based on multiple rounds of different hashes (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo) by making it one of the safest crypto currency in existence.

List of X11 Supported Coins

Dash (Darkcoin)

StartCoin

CannabisCoin

SmartCoin

ConspiracyCoin

Europecoin

GiveCoin

HashCoin

LimeXcoin

Logicoin

Muniti

Nyancoin

Quebecoin

XCurrency

How to Mine X11 using CPU/GPU/ASIC Mining

When Darkcoin aka Dash was initially launched with X11 algo, it was only mineable through CPU mining softwares. Slowly the network hashrate has gone upwards and it was widely speculated that someone would have created GPU Miner and to be fair for the individual miners a bounty was announced to create GPU miner that could be available for public. Though GPU has dominated X11 mining, if you have good enough RAM, you can try your hand at mining X11 coins.

The advantages of X11 mining are security, speed in generating hashes for both CPU and GPU at the same time keeping the GPU’s 30% cooler for better longetivity of your graphic cards without getting them overheated. Also, due to it’s power efficiency reduces your monthly electricity bills to an extent. Comparatively bit more complicated than bitcoins SHA256 algo, makes prevents ASIC mining in near future making it possible to mine with CPU/GPU effectively.

X11 CPU/GPU Mining Software

CPU Miner for X11 and other algorigthms – https://github.com/tpruvot/cpuminer-multi/releases

GPU Minig Software for X11 –

GPU (ATI/AMD):

Sgminer 5.0 thread on bitcointalk.org for support, sources and and latest Windows builds: https://bitcointalk.org/index.php?topic=632503.0

GPU (Nvidia):

CCminer with X11 support: https://github.com/tpruvot/ccminer/releases

Evan Duffield, the creator of Darkcoin and X11 chained-hash, has wrote on several occasions that X11 was integrated into Darkcoin not with the intention to prevent ASIC manufacturers from creating ASICs for X11 in the future, but rather to provide a similar migratory path that Bitcoin had (CPUs, GPUs, ASICs).

Informative articles on Bitcoin and various crypto currency news articles

Information on Bitcoin/Alt coin News

How to Setup A Bitcoin Miner

Is Mining Bitcoin Profitable?

Article on How to Mine Bitcoins?

6 Easy Ways to Earn Bitcoins – Even a noob can do it

Home Mining Still Possible with Cryptonight CPU only Coins

Litecoin Mining Hardware Comparison List

Bitcoin Mining Updates

Sneak Preview on Bitcoin Cloud Mining Services

Spondoolies Announces SP50, an ultra fast & latest 110 TH/s Bitcoin Miner

How To Identify Bitcoin Mining Malware Softwares

Bitcoin Merchants

List of Domain Registrars that accept Bitcoin Payments

Bitcoin Mining Malware – How to identify malware and removal steps

How to Identify and Prevent Bitcoin Mining Malware Programs

bitcoin mining malware programs detection

As Bitcoin becoming more popular as an alternative currency, more hacking incidents happening on the mining programs which necessitates bitcoin generation.

What are bitcoin mining programs and How does the bitcoin malware gets infected

Bitcoins are achieved through a special process called mining where in miners run some specific mining programs on their hardware like GPU/ASIC etc. Most of the mining software is available freely on the internet and one gets to download the software from some unknown vendor/website which could potentially contain malware and these programs could install keyloggers etc to steal the bitcoins from thw wallets, get personal data or could potentially damage your system to run their hacking programs.

How many ways a virus could affect your system?

1. Downloaded Stuff from Internet from unknown websites/programs

2 Bitcoin mining software/wallets downloaded from torrent sites

3. Some Cloud mining sites are potentially infected with virus and when you visit those website they would install harmful programs on your system.

4. Opening unwanted Ports on your system and giving internet access to those ports

How to Prevent Bitcoin virus programs running on your system

Download Bitcoin wallets only from authorized sites (https://bitcoin.org)

Download Bitcoin Mining Programs only from reputed developers who are active in forums like bitcointalk.org and see there are constant developments on programs and software verified by multiple users

Before Downloading the software check the download url at virustotal.com and confirm the cleanliness of the software.

Always run Antivirus software on your systems and scan the downloaded software again.

Never download any software from newly launched websites and unknown people

What should you do if your downloaded software is infected with virus

If your antivirus detects any warning on the downloaded software, simply delete it from your system and purge it from trash.

Run a thorough scan on your computer to see nothing has been damaged

Keep your operating system updated with latest software from service providers

Report the site where you have downloaded the program to Google (https://www.google.com/safebrowsing/report_badware) and your antivirus provider so that they will blocklist the website.

How does bitcoin mining works?

Understand How bitcoin mining works?

Bitcoins are generated through a process called mining, where in miners around the world use their mining hardware (CPU/GPU/ASIC) to generate bitcoins.

How does Bitcoin mining happens?

Solo mining – During the initial days, bitcoins were generated using computers CPU memory and as the mining difficulty increases, sophisticated miners have
come into place replacing traditional CPU, GPU with mining rigs which generates Terra hashes per second and unless you have at least 1Th/sec mining rig, you
cannot even think of doing solo mining now a days. If you find a block you will get rewarded with 25 bitcoins.

Pool mining – In this case multiple of people generate their hash to pools and based on block generation, mining rewards (each block gets rewarded with 25 BTC) gets distributed as per their contribution. Majority of bitcoin mining happens this way and there are pools spread across the world for this cause. The advantage of setting up a pool is that they take percentage of generated coins to maintain to pool cost.

What is the Software used to mine Bitcoins?

Bitcoin uses algorithm Sha256 so you can use cgminer, sgminer or any other compatible miners available freely at github. Everything is free to download as they are open source and you can customize them if you know coding since the package comes with complete source.

Hardware to mine Bitcoins?

You need sophisticated ASIC hardware to mine bitcoins. Popular suppliers are BITMAIN, Spondalies-tech, KNC Miner etc.

Who maintains the bitcoin transactions?

In simple words, all the transactions are maintained by blockchain (blockchain.info) and every bitcoin generated by miners will get recorded here.

What is bitcoin difficulty?

There will be a maximum of 21 million BTC will be produced so as more and more people join mining BTC, the difficulty shoots up every minute. As on today, the difficulty is 56.96 Billion.

Advantages and Disadvantages of Solo and Pooled Mining

Solo Mining – Advantages

Less outages since you control everything resulting in higher up time

No fees here and you will get 25 BTC for each successful block that you find

Disadvantages

No fixed income if you don’t find any blocks and waste of time due to only supporting work pull

Pooled Mining – Advantages

Pooled mining generated some regular income

Disadvantages

Pools can suffer from outages and service interruptions for various reasons (like DOS attacks, maintenance etc)

Pools charges fees for mining

Bitcoin Cloud Mining Services – Are they Worth a Try?

Bitcoin Cloud mining Services – Are they worth trying?

What is Bitcoin cloud mining?

cloud mining comparison

Bitcoin mining involves mining hardware, electricity, monitoring, maintenance. If you do mining at your place, you need to take care of all the afore mentioned! To replace these hassles, cloud mining came into existence where in everything happens at a Data center and you need to pay the fees for mining contracts to generate bitcoins.

Companies that offer cloud mining Services

You need to be very careful here as majority of the companies that offer cloud mining contracts are fake and majority are branded under ponzi schemes.

So, are there any reliable cloud mining companies?

To my knowledge and test below have shown real datacenters and are paying till date so they can be of exception. However note that you won’t become rich over night and ROI takes long time.

1. BITMAIN’s Hashnest

2. Genesis (Supported by Spoondalies)

As you see BITMAIN and Spoondalies are two major bitcoin hardware manufacturing companies supporting the above two sites gives the confidence to try them out.

Lets look in detail of what they offer

Hashnest.com

hashnest bitcoin cloud mining data center

Bitmain is china based hardware company that offers cloud mining services using https://www.hashnest.com. They are offering short term/long term contracts

1. Short term contracts – You can buy PACMIC contracts for certain period and you will get guarteed payments for that specified year and the term closed after the contract ends.

2. Buy Hash Power – You can buy Hash power from S2, S3, S4, S5 and latest S7 Miners and depends on the number of TH/s you buy, your payout will depends on it. However you need to keep in mind the following

1. Hashnest charges service/maintenance charges for each TH/s

2. Though its a life time mining contract, once the profits becomes negative for 10 consecutive days, the contract ends and you will have an option to import your miiner from datacenter by paying the shipping charges.

Features

You can buy Miner of your choice using Bitcoin as payment

You do have the option to buy hash power in the secondary market at lower prices

You have the option to sell your hasing in the secondary market and get profit.

Possible to withdraw Bitcoins multiple times a day.

Genesis-Mining

genesis mining datacenter

Genesis mining has teamed up with Spondalies-tech to offer mining contracts for short term and long term. You can mine Bitcoins (SHA 256) and Various Scrypt coins (at this time of writing, they stopped scrypt contracts as hash power got sold off)

Features

Flexible Contracts – You can by hashpower as you like

You can buy Mining contract using Bitcoin/Alt coins or with your credit card

Mine your favorite coins

Flexible hash power allocation ( You can assign % of mining power to various SHA256 coins like bitcoin, BitcoinDark etc)

Daily Payouts

Compare Hashnest vs Genesis

You can buy Hash power using credit card at Genesis and you don’t have the option at Hashnest.

Genesis offers SHA256/Scrypt Mining where as Hashnest is purely into SHA256

You can withdraw mined bitcoins multiple times at Hashnest where as its only once at Genesis.

There is a secondary market at Hashnest which is missing at Genesis.