How To Solo Mine Bitcoin With a Full Node?

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I’ve a full node operating bitcoind, and I’m questioning learn how to solo mine utilizing BFGMiner, CGminer or comparable software program.

since my fame doesn’t enable me to submit my reply to a different query… I wish to add my reply right here to assist different individuals in my scenario.

FROM THE BFGMINER README…
SOLO MINING

BFGMiner helps solo mining with any GBT-compatible bitcoin node (corresponding to
bitcoind). To make use of this mode, you must specify the URL of your bitcoind node
utilizing the same old pool choices (–url, –userpass, and so on), and the –generate-to
choice to specify the Bitcoin deal with you want to obtain the block rewards
mined. Once you run Bitcoin Core on the identical pc as your miner, the pool
itself will likely be robotically configured for you (on the default purpose). Please be
conscious that solo mining through GBT is right now solely supported for Bitcoin.

IMPORTANT: If you’re solo mining with a couple of occasion of BFGMiner (or
some other software program) per payout deal with, you need to additionally specify knowledge utilizing the
–coinbase-sig possibility to make sure every miner is engaged on distinctive work. Be aware
that this knowledge will likely be publicly seen in case your miner finds a block utilizing any
GBT-enabled pool, even when not solo mining (corresponding to failover).

In case your bitcoin node doesn’t help longpolling (for instance, bitcoind 0.8.x),
it’s best to think about organising a failover pool to give you block
notifications. Be aware that solo mining doesn’t use shares, so BFGMiner’s adjusted
hashrate (third column) might immediately drop to zero if a block you submit is
rejected; this doesn’t point out that it has stopped mining.

Instance solo mining utilization:

bfgminer -o http://localhost:8332 -u username -p password
–generate-to 1QATWksNFGeUJCWBrN4g6hGM178Lovm7Wh
–coinbase-sig “rig1: That is Joe’s block!”

If you wish to solo mine on a number of GBT-compatible Bitcoin blockchains, you possibly can
specify –generate-to a number of instances with a purpose identify prefix adopted by a
colon. Be aware that right now, the coinbase sig is at all times shared throughout all
objectives/swimming pools.

Instance multi-blockchain solo mining utilization:

bfgminer -o http://localhost:8332 -u username -p password
–generate-to 1QATWksNFGeUJCWBrN4g6hGM178Lovm7Wh
-o http://localhost:7221 -u user2 -p password –pool-goal mychain
–generate-to mychain:1QATWksNFGeUJCWBrN4g6hGM178Lovm7Wh
–coinbase-sig “rig1: That is Joe’s block!”



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