How To Solo Mine Bitcoin With a Full Node?

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

since my popularity doesn’t enable me to submit my reply to a different query… I wish to add my reply right here to assist different folks 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, it’s essential specify the URL of your bitcoind node
utilizing the standard pool choices (–url, –userpass, and many others), and the –generate-to
choice to specify the Bitcoin tackle you want to obtain the block rewards
mined. While you run Bitcoin Core on the identical pc as your miner, the pool
itself might be mechanically configured for you (on the default objective). Please be
conscious that solo mining by way of GBT is right now solely supported for Bitcoin.

IMPORTANT: In case you are solo mining with a couple of occasion of BFGMiner (or
some other software program) per payout tackle, you could additionally specify knowledge utilizing the
–coinbase-sig possibility to make sure every miner is engaged on distinctive work. Word
that this knowledge might 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 assist longpolling (for instance, bitcoind 0.8.x),
you must contemplate establishing a failover pool to offer you block
notifications. Word that solo mining doesn’t use shares, so BFGMiner’s adjusted
hashrate (third column) could 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 may
specify –generate-to a number of instances with a objective identify prefix adopted by a
colon. Word that right now, the coinbase sig is all the time 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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