For some of you, you can choose to deal with crypto through Dogecoin (DOGE) mining. Why is that? Maybe it’s that cute and fluffy Shiba Inu face you see everywhere. Or you may have heard that Dogecoin surprisingly – considering it was created as a joke – retains its value over time.
Anyway, mining can be pretty intimidating if you’re a beginner. That’s why we want to make your job easier as SinceCoin. Here’s the easy way to mine Dogecoin!
How Hard Is It to Mine Dogecoin?
Before getting into the tutorial, you should know that DOGE mining is not what it used to be (if you haven’t done so yet).
Like Bitcoin, Dogecoin has seen the rise of ASICs or application-specific integrated circuits. This is a fancy way of saying devices built specifically for mining. While DOGE’s mining algorithm Scrypt was originally designed to be ASIC resistant, ASIC manufacturers have finally found a way around it.
The introduction of ASICs, which are much more powerful than home computing equipment, at least for mining purposes, made DOGE mining much more difficult for those using CPUs (computing units) and GPUs (graphics processing units) for the average individual. . It has to compete with ASIC miners.
In addition to the rise of ASICs, the introduction of unified mining – the ability to mine other cryptos besides DOGE – has made Dogecoin mining even more difficult. Prior to the addition of consolidated mining support, some members of the DOGE community were concerned that a small handful of powerful groups dominated Dogecoin mining.
This meant that the strong minority could potentially launch a 51% attack. In other words, by using the majority of the network’s hashrate or mining power (51%), these powerful mining groups can completely replace Dogecoin and its blockchain or transaction records.
To counter this, Dogecoin developers introduced AuXPoW or Auxiliary Proof-of-Work. AuXPoW allows other cryptocurrency miners to mine DOGE (aggregated mining) as well. While this had an impact on distributing DOGE’s hashrate more widely, it also increased the mining difficulty of Dogecoin, making mining even more difficult.
Finally, due to regularly planned drops in the DOGE block reward (how many Dogecoins are created with each new block of the blockchain) there is less DOGE for miners. This can put downward pressure on miner profitability as long as the price of 1 DOGE cannot match the lower block rewards.
So what does this all mean for you, the brave DOGE miner?
Due to all these changes in the Dogecoin mining ecosystem over the years, trying to extract Dogecoin on your own with just one CPU or GPU probably won’t be worth it in terms of profit. Still, if you join a mining pool, you can still mine somewhat efficiently (we’ll explain what this is if you don’t know) – but probably only with ASIC mining, which is more costly.
Mining Pools vs. Solo Mining
Mining pools are groups of miners who come together to either hashrate or join mining forces. By “pooling” mining pools together, they have a higher overall hashrate, which means they have a higher chance of earning block rewards. Any profits are proportionally divided between pool members and although the payments are smaller for each member, they are generally more consistent than for miners alone.
The lone miners are me in their own right, as their name suggests. Solo miners keep the mining rewards they earn for themselves. However, as long as the solo miner doesn’t have a lot of hash power, the chances of winning block rewards are low. Therefore, their payments do not come as often (or not at all).
As we mentioned, it’s not worth mining DOGE alone with just one CPU or GPU. The exception to this can be if you are mining with ASIC (s). But even then, if you’re not some kind of DOGE mining ASIC tycoon with a bunch of ASICs, you’re better off joining a pool.
How To Mining Dogecoin
Now for the fun part – how to mine Dogecoin!
Before you get started, make sure you have all the necessary requirements.
1. A good, unlimited Internet connection
One of the things you need is a solid, unlimited Internet connection. You don’t want your internet to be slow or interrupted while mining. If you are not connected to the internet, you cannot mine.
For slow connections, you don’t want slow connections to the network, even if you’re connected. Because if you and another miner with faster Internet post your results at the same time, this block reduces your chances of receiving rewards.
2. Electrical capacity
Since mining is energy intensive, you want to make sure your electrical system can meet your Dogecoin mining needs. See the energy requirements of the things you will be using such as cooling and mining equipment.
3. Heat management (e.g. cooling system, fans)
Another thing you need is good heat management. Mining equipment can get hot and you still want to make sure you have proper cooling in place to ensure that your equipment and mining area, such as your garage, does not overheat.
4. An ASIC (or other mining equipment)
While ASICs can be expensive, they are a must-have if you want to make a really good profit. Your best bet is probably Bitmain Antminer L3 ++ with a good combination of high hashrate, reasonable power consumption, and relatively affordable price.
Once you’ve decided which mining equipment to use, it would be a good idea to estimate your mining profitability. WhatToMine‘s Dogecoin mining profit calculator is a good resource.
Antminer L3 ++ (580 Mh / s hashrate, 1050w power consumption, $ 155 upfront cost including shipping based on new L3 ++ listings on eBay), a fairly standard mining pool fee of 1% and kilowatt hour if we take an average US sample. 12 cents per electricity cost, we can see that DOGE mining would be unprofitable:
So, even with the best Scrypt ASIC on the market, DOGE mining is probably unprofitable. However, if somehow you had free electricity (including utilities in your rent) or if you lived in a country like Argentina with almost free electricity, you would be close to breaking the equality:+
Note, however, that calculators like this one only provide estimates and things can change if things like the DOGE price or mining difficulty change. For example, if you’ve been in this area for a week, you know that prices can vary greatly within hours, let alone days, weeks, months, or a year. As of writing, the DOGE price is significantly lower than it was in 2018 and before. Mining difficulty also changes frequently.
Aside from changes in price and mining difficulty, you and your pool may get lucky more often than a mining calculator when it comes to mining rewards.
Worst of all, your mining efforts will at least contribute to the decentralization of DOGE mining.
5. A Dogecoin wallet
If you’re still determined to mine DOGE, another thing you need is a Dogecoin wallet to send your mining profits.
The official DOGE wallet only supports Doge use and this is a good choice if you want something already supports desktop platforms (Windows, MacOS and Linux) as well as Android.
Setting up your ASIC (Antminer L3++)
In this example, we will use an ASIC (Antminer L3 ++) as they have the highest potential for profit.
One of the good things about mining with ASICs is that you don’t need to download and configure the mining software. Most ASICs these days come with firmware. So you can mine faster.
Once you have your ASIC (s) in hand, here are the steps you should take:
1. Connect your ASIC to both a power source and the Internet
Connect your ASIC to the power supply unit (PSU) first. Then connect the PSU to a power source. Finally, plug the Ethernet cable into the ASIC and make sure it is connected to a router or other Internet source.
2. Choose a Dogecoin mining pool
Pick a mining pool to join based on things like:
- Reliability – the pool is reputable and they pay miners on time
- The more hash power the pool has – the more hashing power the pool as a whole has a higher chance of receiving block rewards.
- Uptime – if the pool isn’t running consistently, it’s not mining
- Pool fee – how much they take from your wife
- Rewards system – how does the pool calculate reward payments?
- Server location – the closer it is, the better. The closer you are, the less time your lag will be; This has an impact on how fast you send your stocks (how much you mine) and on how much you buy shares (how much you will mine). Any delay here can cause you to resolve fewer shares and benefit less from the pool’s block rewards.
- Minimum payout – may be lower if you don’t have much mining power and want to pay more often.
- Multi-currency support – some pools allow you to mine other cryptocurrencies besides Dogecoin.
3. Find the IP Address of your ASIC
Next, log into your router’s settings (usually accessible by typing 192.168.1.1 in your web browser’s address bar).
Enter your username and password (usually given to you when the router is set up and / or listed on the router).
From there, find your network’s connected devices and search for “Antminer” and copy the corresponding IP address.
If this all sounds confusing to you, check your router’s documentation. If you don’t have this, search on Google or any other search engine along with the name of your router (it must be on the device) and “how to find connected devices” or “DHCP client list”.
4. Login to the ASIC’s Web Interface
Once you get the IP of your device, enter it in your browser.
A box will appear telling you to sign in. The default username and password should be “root” without quotes. However, if this is not the case, refer to your ASIC’s manual.
5. Enter Mining Pool Information
After logging in, go to your Miner Configuration settings and enter your mining pool’s URL and Password (both provided by the pool). Where you put your Dogecoin wallet address where it says worker.
If you want, entering more than 1 pool information will allow your ASIC to move on to the next to ensure continuous mining even if your main pool is closed.
Also, make sure you set up the correct payment token via the pool’s website! You don’t want to accidentally mine another coin into your Dogecoin wallet (or vice versa if you choose to receive payments other than DOGE).
6. You’re Done!
Once you hit save, it’s good to go! Pretty easy, right? After a few moments, your miner should show a hashrate in the Miner Status tab. This means everything is working properly.
How to Mine Dogecoin with GPU
Want to learn how to mine Dogecoin with a GPU?
Unfortunately, these are ASIC days and you probably won’t be profitable if you don’t have a ton of GPUs. Even then, buying ASICs will get a greater bang for your buck.
Still, you have some options if you want to try it out anyway, perhaps just to understand what DOGE mining is like.
First, install a GPU mining rig or use the GPU your computer currently has.
For either program, you’ll need the following:
- The layer address and port number to be connected. (Stratum is a coin mining protocol, and you can think of a Stratum address as a website address. But instead of connecting to a website, you’re connecting to a mining pool)
- Your worker name – created on the mining pool site
- Your worker password – created on the mining pool site, different from your user password for the site
- Also a username for the mining pool site
How to Mine Dogecoin with CPU
If GPU Dogecoin mining is unsustainable, you can forget about CPU mining, at least when it comes to really making a profit. You will likely cause your CPU to overheat, which can damage it and shorten its lifespan.
However, if you want to tamper with it anyway, all you need is to download CPUMiner and have the settings listed above (layer address, port number, employee name, employee password, repository site username) ready.
How to Solo Mine Dogecoin
I am sure you have noticed that Dogecoin mining is difficult even in a mining pool. The only way to make Dogecoin alone profitably is to have a Dogecoin mining farm with lots of ASIC devices where electricity is very cheap and even free.
Otherwise, you run the risk of waiting too long to receive DOGE block rewards. It can take weeks, months, years, or never before you dig a DOGE block on your own. Once done though, the reward will be all yours, as opposed to having to share it with a mining pool. However, things like electricity costs can affect every profit you make.
How Long Does It Take to Mine Dogecoin
Technically, a Dogecoin block is mined every minute. However, if you want to know how long it will take for you to mine some DOGE like WhatToMine dogecoin mining calculator, you know that the use isn’t anything but perfect. For example, with an Antminer L3 ++, it will probably take an hour or less to mine 1 DOGE.
Hopefully know you know how to mine Dogecoin! While it is largely unprofitable for most these days, that’s dependent on one’s own situation. Not to mention that things could change if, for example, the price of DOGE goes up!
Note: This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.
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