Bitcoin Private mining like every other business activity demands research—for best mining gear, best Bitcoin mining private pools and of course, the best locations for mining. After all, like Bitcoin mining, mining BTCP is power intensive because of its consensus algorithm. Before we move on, let’s learn a few things about Bitcoin Private.
What is Bitcoin Private?
Bitcoin Private describes itself as an open source, peer-to-peer cryptocurrency. And it is not a Bitcoin fork per say. Bitcoin Private is a merger between elements of Bitcoin and ZClassic, another fork of ZCash. In turn, ZCash is another copy of Bitcoin.
What’s unique about Bitcoin Private is the privacy element. Because of this, the open source coin takes the best bits out of Bitcoin—security and immutability. Rather than make all transactions visible on the Bitcoin private ledger, there is the option of keeping the amount, sender and receiver private.
This privacy feature is possible because of ZK-SNARKs. Furthermore, there are 21 million BTCP coins available for mining.
Proof of work is for consensus and Equihash is the hashing function. Difficulty adjustment is done every block and disbursement of BTCP rewards is every 2.5 minutes. The network is community different with miners contributing 20 percent of their reward to a Founder’s Fee.
Bitcoin Private Mining: Preparation
The hashing algo in place is Equihash. Most notably, Equihash is ASIC resistance. Obviously, the reason for this is to prevent centralization of mining. Before you begin mining, ensure that you have the latest Nvidia GPU drivers. Secondly, download fitting mining software and except it from anti-virus scan.
Otherwise, it will be flagged down as a virus and disseminated. Simply do this by creating a single Mining Software folder and move your files to that location. Exempting the top level folder by passes scanning on other folders or files.
Talking of mining software, we recommend Claymore in case of AMD and EWBF’s CUDA miner for Nvidia. Now, one last step: You have to change the wallet address depending on how you mine–Solo or Pool mining. Besides, we suggest joining a pool and using your notepad just change it like this: /EQUIHASH/NVIDIA/btcp-pool.bat
Top 6 Bitcoin Private Mining Pools
Once you are done, select a reliable BTCP pool. Additionally, there is regular pay. Minimum payouts are at 0.01 BTCP. That’s aside from higher ROI though you must contend with pool fees—at around 1 percent.
As such, selecting a suitable Bitcoin Private pool is of prime importance. We shall explore on some of the most common pools looking at fees and their total hash rates. High hash rates mean more regular payouts and community confidence.
Here are the Top 6 BTCP Pools:
- Cloud Pools
- Low fees
- High reliability
- Mobile dashboards
- They are also very active in their Discord Channel.
- Standard one percent fee
- Servers in the US guaranteeing performance
- No registration
- Payout limits at 0.05
- Premium support
- Anonymous Bitcoin Private mining and privacy
- Payouts from 0.001 BTCP
- There is SSL mining for improved security
- Their servers are stable and with DDOS protection
- Wonderful dashboard showing statistics
- Fees are low
- It is Multi-pool
- There is a high performance back end.
- Bitcoin Private Pool
- US servers
- PPLNT Payment Model
- Attractive, easy to use dashboard
- A product of a senior Bitcoin Private developer
- There is a 2% BTCP Block Finder Reward
- Coin Foundry
- High hash rates
- Terrific customer care support
- Low fees at 0.75 percent
- Minimum payout is 0.05 BTCP
- Adopts the PPLNS or Pay per Last N Shares rewarding loyalty.
Mining is like any other business. However, with sliding prices, profitability is low. You will reap less if you settle of a less reliable BTCP pool. All in all, electricity costs, hash power of your rigs and fees influence the total profitability. Easily calculate your daily gains—or losses when Bitcoin private mining.