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Bitcoin Essentials

Bitcoin Essentials

By : Szmigielski
2 (2)
Buy this Book
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Bitcoin Essentials

Bitcoin Essentials

2 (2)
By: Szmigielski
Buy this Book

Overview of this book

Blockchain is being billed as the technology of the future. Bitcoin is the first application of that technology. Mining is what makes it all possible. Exploring mining from a practical perspective will help you make informed decisions about your mining setup. Understanding what the future may hold for blockchains, and therefore for mining, will help you position yourself to take advantage of the impending changes. This practical guide starts with an introduction to Bitcoin wallets, as well as mining hardware and software. You will move on to learn about different mining techniques using the CPU, GPU, FPGA, and ultimately the ASIC as an example. After this, you will gain an insight into solo mining and pool mining, and see the differences between the two. The book will then walk you through large-scale mining and the challenges faced during such operations. Finally, you will take a look into the future to see a world where blockchain-based applications are commonplace and mining is ubiquitous.
Table of Contents (10 chapters)
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Preface
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Preface
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What this book covers
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What you need for this book
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Who this book is for
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Conventions
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Reader feedback
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Customer support
Free Chapter
1
1. Bitcoin Wallets and Mining Software
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1. Bitcoin Wallets and Mining Software
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Bitcoin wallets
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Types of wallets
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Mining software
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Summary
2
2. CPU Mining
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2. CPU Mining
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Mining with Bitcoin Core
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Pros and cons of mining
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Best practices when mining with CPUs
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Profitability of mining
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Summary
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3. GPU Mining
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3. GPU Mining
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Setting up a GPU for mining
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Pros and cons of GPU mining
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Best practices when mining with GPUs
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Benchmarks of mining speeds with different GPUs
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GPU versus CPU mining
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Profitability of GPU mining
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Summary
4
4. FPGA Mining
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4. FPGA Mining
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Setup and installation of the required software
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Pros and cons of FPGA mining
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Best practices when mining with FPGAs
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Benchmarks of mining speeds with different FPGAs
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FPGA versus GPU and CPU mining
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Profitability of FPGA mining
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Summary
5
5. ASIC Mining
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5. ASIC Mining
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Setting up mining software
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Pros and cons of ASIC mining
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Best practices when mining with ASICs
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Benchmarks of mining speeds with different ASICs
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ASIC versus FPGA, GPU, and CPU mining
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Profitability of ASIC mining
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Summary
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6. Solo Versus Pool Mining
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6. Solo Versus Pool Mining
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Solo mining
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Pool mining discussion
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Majority attack on Bitcoin
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Summary
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7. Large Scale Mining
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7. Large Scale Mining
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Large Scale Mining overview
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Large Scale Mining challenges
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Large Scale Mining operations
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Summary
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8. The Future of Bitcoin Mining
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8. The Future of Bitcoin Mining
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Overview of the current state of mining
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Further centralization of mining
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Decentralized mining is key
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Elimination of PoW
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Can we do without mining?
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Summary
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Index
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Index

What this book covers

Chapter 1, Bitcoin Wallets and Mining Software, gives an overview of Bitcoin wallets: hardware, software, full and thin clients. The chapter also discusses mining software.

Chapter 2, CPU Mining, looks at Bitcoin mining using a CPU. It covers everything you need to get started.

Chapter 3, GPU Mining, concentrates on GPU mining. It covers GPU driver setup, mining software setup, and it touches upon practical mining issues. Examples are included.

Chapter 4, FPGA Mining, examines FPGA mining, including software, drivers, and a discussion of best practices.

Chapter 5, ASIC Mining, looks at ASIC mining in detail. We set up the software that is needed to mine and we show you practical examples of mining with ASICS.

Chapter 6, Solo Versus Pool Mining, explains solo and pool mining and weighs the pros and cons of both ways of mining.

Chapter 7, Large Scale Mining, looks at mining as a business. There are a handful companies that decided to mine for profit. They represent the bleeding edge in mining techniques.

Chapter 8, The Future of Bitcoin Mining, speculates how mining may evolve in the future. We look at the possibility of mining becoming more centralized and the possibility of mining becoming decentralized.

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