OK, for trading, see the 5 part article here: https://cookinvestmentfirm.com/tag/andrew-cook/
I've only really used bitcoin as a way to move money around (which it's terrible at). But recently I lucked out to a tiny degree. I use Coinbase as a wallet and they take a week to process a wire transfer from a bank. However they do honor the rate in effect when you start the buy. So I got $125 worth of bitcoin for $100, turned it back into dollars and I'm waiting for the price to drop so it's profitable to reinvest. Buying or selling incurs fees, don't forget those. Unless you feel like trying to write a bot to profit from the tiny fluctuations think long term, changes of hundreds of dollars/BTC. It always goes low and high, you aren't staking money on one company that can go bankrupt. It's more like buying government bonds.
Go to https://www.litecoinpool.org
and look around. There's even a profitability calculator based on how fast you can do work and how much electricity costs to run your hardware. Yes, people do use solar. For CPU mining cpuminer is what they recommend. https://bitcointalk.org/index.php?topic=55038.0
There's no binary for the Pi but you just need mostly libcurl then it's the standard configure and make. Don't bother with cgminer or bfgminer in the Raspbian debs, cgminer doesn't do litecoin anymore and bfgminer doesn't mine with a CPU as configured.
And buying an ASIC isn't a huge investment necessarily, look on eBay. You can spend $30-$2000 or more. Cute little $30 ones are controlled over USB and run on like 15 watts. A Pi with bfgminer controlling one (or a few) of those would work fine. But an ASIC is dedicated hardware, a bitcoin ASIC can't do litecoin, you have to make up your mind before you invest. A little playing around at CPU mining could help you decide. Bitcoin uses SHA256, litecoin uses scrypt, cpuminer can do both, and parts were written in assembly language. Usage info from minerd (cpuminer)
Code: Select all
Usage: minerd [OPTIONS]
-a, --algo=ALGO specify the algorithm to use
scrypt scrypt(1024, 1, 1) (default)
scrypt:N scrypt(N, 1, 1)
-o, --url=URL URL of mining server
-O, --userpass=U:P username:password pair for mining server
-u, --user=USERNAME username for mining server
-p, --pass=PASSWORD password for mining server
--cert=FILE certificate for mining server using SSL
-x, --proxy=[PROTOCOL://]HOST[:PORT] connect through a proxy
-t, --threads=N number of miner threads (default: number of processors)
-r, --retries=N number of times to retry if a network call fails
(default: retry indefinitely)
-R, --retry-pause=N time to pause between retries, in seconds (default: 30)
-T, --timeout=N timeout for long polling, in seconds (default: none)
-s, --scantime=N upper bound on time spent scanning current work when
long polling is unavailable, in seconds (default: 5)
--coinbase-addr=ADDR payout address for solo mining
--coinbase-sig=TEXT data to insert in the coinbase when possible
--no-longpoll disable long polling support
--no-getwork disable getwork support
--no-gbt disable getblocktemplate support
--no-stratum disable X-Stratum support
--no-redirect ignore requests to change the URL of the mining server
-q, --quiet disable per-thread hashmeter output
-D, --debug enable debug output
-P, --protocol-dump verbose dump of protocol-level activities
-S, --syslog use system log for output messages
-B, --background run the miner in the background
--benchmark run in offline benchmark mode
-c, --config=FILE load a JSON-format configuration file
-V, --version display version information and exit
-h, --help display this help text and exit
You don't remember all the options of course, you start it from a script like:
./minerd -o stratum+tcp://us.litecoinpool.org:3333 -O ab1jx.3:3
And one of the first things you learn is how futile it is. I worked for several days to get 5 machines online running cpuminer and realized if I ran them for 20 years I might make one litecoin worth $12. Something like solar powered ASICs are about the only thing feasible. If it were easy it wouldn't be a currency. Mining difficulty, by design, increases with the number of coins mined. Energy costs increase. Technology costs decrease but a multi-ASIC mining rig isn't something in much demand so nobody puts much money into improving them. Look at megahashes per second per watt. When you get much over 0.3 Mh/sec you need forced air cooling and it goes downhill from there. Without that though you might spend a lifetime making one coin.
On the other hand "Energy can neither be created nor destroyed" so if it's winter and you'd consider heating with electricity anyway do some mining. The heat from your computer or ASIC goes into heating your house, it's not a waste of energy in that case.
Mining on small energy-efficient devices like a pi makes sense. Try "Pocket miner" on your Android phone too. I wonder if something like cpuminer could be forked to be running on the CPU and GPU at the same time. The GPU is a physically different chip, stick heat sinks on both of them and go to town. https://rpiplayground.wordpress.com/201 ... ofit-pt-1/
I'm running cpuminer on 4 machines, I like that you can select a number of threads. I limit it to 1 or 2 threads if I want the machine responsive for doing something else, turn it up overnight. "Pocket miner" can do that too, on a quad core phone it makes sense. Eats battery fast though.
I did invest $60 in an ASIC on Aliexpress which can outdo the 6 machines I'm CPU mining on by a factor of 1000. But bitcoin mining no, litecoin is what I'm into. In 2 months it's become 3 times more valuable. Just remember that economics is only a behavioral science. Pi s are frequently used to control ASICs, here's a comparison of some bitcoin ASICs. Some of the discontinued stuff might still be available used, just be careful. https://en.bitcoin.it/wiki/Mining_hardware_comparison
Got my $60 Gridseed ASIC, it's been running for over 24 hours now. Litecoinpool.org says I've averaged 4,382 kH/s. In the first hour it did more than 6 computers cpu mining did in a week. But I'm still looking at 50 days to make 1 litecoin. I'll probably invest in another one in a couple weeks when I get paid again. But a Pi controlling it, sure. I'm running cgminer in an ssh window, a Pi will work fine for that. You could probably run 50 of them at once. Or if you spend $5000 and up for a Bitcoin ASIC you could control that probably. I seriously doubt you could cpu mine 1 Bitcoin in a lifetime.