Are you looking to mine the newest cryptocurrencies? How about mining Bitcoin Gold (BTG)!
In our guide, “How Bitcoin Mining Works?”, we learned how bitcoin mining got to a whole new level.
On the other hand, Bitcoin Gold is designed particularly for GPU mining, meaning that you only need a desktop computer and a graphics card to begin minting the money right away.
You May Also Read: Best Altcoins To Invest In 2019
What is Bitcoin Gold?
Well, Bitcoin Gold is the result of Bitcoin’s hard fork which took place in October 2017. Its primary focus was decentralization.
The developers of Bitcoin Gold point out the advantages of the cryptocurrency. They talk about ASIC resistance, wallet protection, fair distribution of coins amid hard fork.
Thanks to the unique addresses and the transparency of the system.
At the time of writing the article, 1 BTG cost $13.24, which is an all-time low value for the project. The highest rate was spotted at launch of the network amounting to $479.
Mining Bitcoin Gold
How to sell Bitcoin Gold is a different thing.
Bitcoin Gold was initially centered around Equihash mining algorithm. Thus, for BTG mining, you could use the same hardware which works for Bitcoin Private, Hush, Zclassic, Zcash, and others, with 3GB+ AMD and Nvidia graphics cards.
Bitcoin Gold has updated the mining algorithm to Equihash 144,5 at block 536200 at the 3rd of July to resist the ASIC-mining. Equihash 144.5 is the ASIC resistant algorithm, thus, Bitcoin Gold is mined only with GPU’s at the moment.
You May Also Read: How to Buy Bitcoin With Cash?
BTG Mining Profitability
The calculation of profitability is the hash rate that you can anticipate from a rig with 8 Nvidia 1080ti graphics cards.
If you get $7 every day exclusive of electricity costs, then you will, at the same level of difficulty, get $210 per month.
In case you have 2, 3 or 10 such rigs, then you should multiply the result by the corresponding factor.
Kindly note that Equihash 144.5 GPU hashrate is very less when compared to Equihash. Here’s what you could expect BTG in return –
RX 560 — 7 Sol/s;
RX 290 — 12 Sol/s;
RX 580 — 16 Sol/s;
GTX 1050Ti — 15 Sol/s;
GTX 1060 — 27 Sol/s;
GTX 1070 — 40 Sol/s;
GTX 1080 — 45 Sol/s;
GTX 1080Ti — 64 Sol/s.
You May Also Read: 5 Sites To Buy Bitcoin With Debit Card
Bitcoin Gold Mining Difficulty
Difficulty in Bitcoin Gold Mining maintains a balance between the number of miners as well as the block time. However, it changes with every block. As of now, it is 213,330 +1.07% in 24 hours.
Bitcoin Gold Mining: Solo or Pool?
One mined block will get you 12.50 BTG plus fees, that amounts to $13.24 at the current exchange rate, which is not bad at all. You shouldn’t count on it if you have only one rig.
You are highly recommended to go for solo mining, only when you have at least 80 rigs with the specifications mentioned above.
Else, you can go for Pool mining!
Here are a Few Articles for you to Read Next:
Leave a Comment