With hundreds of options to choose from, selecting the right cryptocurrency to mine can be quite overwhelming. For most people, Bitcoin is the de-facto choice, but there are many who don’t want to walk the ‘off-the-beaten-path. For the adventurous crypto enthusiasts out there, Dogecoin mining is a huge attraction. Have you thought of the ways to mine Dogecoin?
Whether it’s the insanely cute Shiba Inu face or the good return on investment, Dogecoin mining is an awesome investment option for the uninitiated. Surprisingly, Dogecoin started out as a joke, but the project donned serious attire soon enough when its value touched new highs. If you are new to the mining gig, high on technicals, and love the digital asset community concept, mining Dogecoin is the perfect choice for you.
Altcoins are a whole together different species. Unlike Bitcoin, they present an entirely new set of mining opportunities and bring many unforeseen challenges. If you are aware of BTC mining pools, Dogecoin mining is more or less the same, albeit with a few technical differences.
How did Dogecoin start
Dogecoin started in 2013 as a fun project between two friends Billy Markus and Jackson Palmer. The crypto scene was heating up in those days, and both wanted something fun for the uninitiated. And what better than the Doge meme logo to give fun vibes to this crypto coin. Hence, Dogecoin was born – out of a need to lighten up the crypto environment and benefit the Dogecoin community.
The official mascot of Dogecoin, the Shiba Inu dog, represents the coin’s fun factor. And the fun factor worked in its favor as it quickly became famous among crypto enthusiasts. It is also actively involved in various charity-related events in numerous developing countries. It is also widely popular on some discussion groups as a reward for sharing good content.
Over the years, it has maintained a good reputation among cryptocurrencies and is still widely used for various types of transaction fees. Its vibrant mining community has flourished amidst the dwindling Bitcoin mining industry. If you are already in love with this coin, it’s time to discover Dogecoin mining farm.
So, what is Dogecoin mining?
This article aims to introduce new miners to Dogecoin mining, dispel myths associated with mining DOGE, and guide newcomers to start their very own crypto mining operations. Readers will learn everything related to hardware, software, and every other mining intricacy to mine Dogecoin. Most importantly, at the end of the article, you will know whether Dogecoin mining is for you or not! Here are some essential data to get started with mining Dogecoin:
Mining Algorithm: Scrypt
Consensus Scheme: Proof-of-Work
Coins to be Issued: 100,000,000,000
Block Time:1.00 minute(s)
Block reward: 10,000.00 coins Block Count: 3,281,176
Dogecoin mining difficulty: 2467553.2632
Difficulty Retarget: 1 block
Before we even go any deep into how to mine Dogecoin, it is essential to first understand the idea behind cryptocurrency mining. This will help to grasp what Dogecoin mining is all about.
Cryptocurrency mining is an essential part of how it functions due to its nature as a peer-to-peer currency. The record of every cryptocurrency transaction is on the blockchain, which is a massive digital database. This database is stored on thousands of computers all over the world, known as nodes, and it is these nodes that must confirm new transactions and add new blocks to the blockchain.
Mining is the process for confirming these transactions, and the coin that miners earn after these confirmations serve as an incentive to dedicate their computing power to the blockchain network. Mining usually involves solving a series of very complex calculations that only computers can solve. Even then, it is not all computers that can be used for mining.
Every cryptocurrency has its own blockchain, which can be quite different, meaning the mining process will be, too. For instance, Bitcoin uses a very difficult SHA-256 algorithm, while Dogecoin uses Scrypt. The hash Dogecoin and Litecoin mining were merged in 2014, which makes merged mining possible.
Step 1. Download the wallet.
Go to the Play Store and search “Dogecoin Wallet” on the Play Store, or click the “Get it on Google Play” button.
Press the “Install” button. Press the “Accept” button on the App Permission Requests panel.
Wait for the application to download and install.
Get it on Google Play.
Step 2. Launch the wallet.
On the same page, press the “Open” button. You will be directed to the Dogecoin Wallet. You can also access the Wallet within the app drawer on your Android™ smartphone. We are now approaching real mining activity.
Step 3. Use your wallet!
Now you have a full wallet in your hand! On the top, you have your Address Book and Settings. Under it, you have your Dogecoin address on the left, Dogecoin address in the QR code on the right, and your Dogecoin balance. On the bottom, you have your transaction history. On the very bottom, you can “Request Coins”, “Send Coins”, or scan a QR code with your camera.
Step 4. Get involved with Dogecoin.
dogecoincom-reddit – The Main Hotspot of the Dogecoin Community.
#dogecoin IRC – Dogecoin-based Internet Chat.
Dogecoin Forum – Another Community Forum for the popular crypto asset
Step 5. Get Dogecoin.
There are numerous ways to get Dogecoin. You can buy them, trade for them, get tipped, mine Dogecoin, and more. Dogecoin is amongst the popular cryptocurrencies, and hence its mainstream popularity is also rising. Founders Billy Markus and Jackson Palmer would be surprised how far the coin has come.
You can also get Dogecoin by participating in our community. If that’s not your style, the easiest way to have your first Dogecoin is to get them from a faucet.
A Faucet is a website that gives you a small amount of Dogecoin for free to introduce you to the cryptocurrency! All you need is your Dogecoin address.
Here are a couple of Dogecoin faucets:
Dogefaucet.com – Enter your address to get free Dogecoin.
InDogeWeTrust.com – Same as Dogefaucet.
If you want to mine Dogecoin, you need to understand some associated technicalities. Mining is when you use your computer to process Dogecoin transactions by other people, and in return, you get Dogecoin. This is more like work done to earn traditional fiat money.
Mining cryptocurrencies is advised for advanced users only, as it requires a lot of technical knowledge, including blockchain. If you are interested, read more here.
How to Mine Dogecoin
If you want to mine Dogecoin, there are two ways you can go about it. The first way is solo mining which means you set up the mining process yourself and handle everything. The second option is pool mining, where you combine computing powers with other Dogecoin miners, and everyone shares the block reward.
Solo mining Dogecoin means you own all the rewards you earn while you will have to share in pool mining. If you are joining a cloud mining pool, you also have to pay a fee. However, a Dogecoin mining pool increases your chance of earning faster and more consistently. For a beginner, joining a Dogecoin pool also means being part of a mining community, which is good.
What you need for mining Doge
The wallet is the number one thing you need to mine Dogecoin because it is where you save what you earn. Once you have that, you will need mining hardware to start your Dogecoin mining operation. Examples are:
CPU: Your computer CPU is likely powerful enough to use in mining Dogecoin, but it is not advisable to use it. Mining causes overheating and can damage a less powerful device.
GPU: A graphics card is not only for games and video editing software; it can be used for mining Dogecoin too. Using a graphics card to mine Dogecoin is known as GPU mining. There is also a GPU mining rig for the purpose.
Scrypt ASIC Miner: These are mainstream cryptocurrency mining machines that are designed for the sole purpose of mining. They are quite powerful, and generally, each blockchain algorithm has what works for it. For example, there is a Bitcoin miner or even a mining rig dedicated for the purpose. Scrypt ASIC miner is only for Scrypt mining which is the algorithm for mining Dogecoin and Litecoin. The cryptocurrency mining chip designs are quite powerful, making them consume a lot of power and generating both heat and noise. They are mostly used on mining farms. These mining chips are produced by blockchain technology companies and are quite expensive too.
Whichever hardware you settle for, you will also need mining equipment for the purpose. CPU doesn’t have as many options as GPU when it comes to mining software. These crypto currency mining apps are the ones who will run the whole mining rewards process.
For CPU mining, you can download a CPU Miner which will be perfect for mining the meme coin. However, if you are mining with a GPU, there are multiple options to consider. For beginners, it is advisable to use EasyMiner because of how simple it is for beginners to get it. However, if your graphics card is an Nvidia, you should try CudaMiner instead and CG miner is perfect for all kinds of GPUs.
EasyMiner and CGminer can also be used for ASIC or you can just decide to get MultiMiner which is capable of simultaneous litecoin and Dogecoin mining since they are both based on Scrypt mining algorithm as well as Bitcoin which is based on SHA-256.
Dogecoin Cloud Mining
This is a simple and less technical way to mine Doge coin. Through this, you can rent computing power from a data center, and the center will mine the coin and send your share. For this, all you require is a wallet.
However, while cloud mining is quite cheap and effective, the data centre is not always open with information. This makes it difficult to know the good cloud mining contracts. Also, the fee you’ll pay remains static regardless of the shift in Dogecoin price as the contracts are fixed.
This does not represent the volatile nature of the crypto market at all and you might end up losing money if Dogecoin price falls and you still have to keep paying to mine at the same cost. For what it is worth, mining Dogecoin should be a fun adventure for you and cloud mining doesn’t really give the opportunity to enjoy that adventure.
Another way you can get Dogecoin is through a Dogecoin faucet. This is not mining per se but you still get rewards in dogecoin for completing certain tasks on a website.
Note: These online faucets and exchanges are not owned or maintained by Dogecoin. While we are satisfied they are trustworthy, reliable services – please use them at your own risk because some of these faucets may contain malware.
How long does it take to mine Dogecoin?
Dogecoin shares the same algorithm with Litecoin – Scrypt. It was a result of Bitcoin’s SHA-256 hard fork. It appears to be quicker and more efficient. The Dogecoin mining block time is around a minute, and the network difficulty is way smaller in comparison to Litecoin (2.5 mins block time) or Bitcoin (10 mins block time).
Another great fact about Dogecoin is that you can mine it all together with Litecoin, which is a stable coin with a significant role in the altcoin market. Mining them both at the same time could only increase your income. Users will discover many overlapping mining operations for both coins.
We played it safe and used the Reddit bot to illustrate mining Dogecoin. Let’s get started with sodogetip! Sodogetip is a new on-chain Sogecoin tipping bot and it is the most transparent cryptocurrency tipping bot on the social media discussion platform.
Here are some quick links
Simply click +register to send a message to sign up with /u/sodogetip. If a ‘Doge’ miner receives a tip and is not registered, the tip will be held in a queue for 3 days until you register, at which time the tip will be sent to his address. If he does not register within 3 days of getting tipped, the tip will expire.
To start tipping, first deposit Dogecoin to the address that the bot gives you after registration, and use the format + /u/sodogetip AMOUNT doge to tip the parent commenter or post author in a Reddit thread. If the amount is less than 1000 doge, the tip will go through without the bot posting a public verification comment. If it is more than 1000 doge, or you add verify to the end of your tip like + /u/sodogetip AMOUNT doge verify, the bot will post a public verification comment, as long as it is not banned in the subreddit that you are tipping in. If it is banned from the subreddit, the tip will still go through, but the bot will be unable to comment publicly for verification. (Unless the subreddit has banned the keyword “+ /u/sodogetip” then your comment won’t appear publicly and the bot won’t see it either)
Note that sodogetip can only tip and withdraw whole number amounts of Dogecoin, decimal tip amounts will be rounded down to the nearest whole number. Also, please remember that due to being on-chain, sodogetip requires a mining fee to be paid with every tip. So if one gets tipped 50 Dogecoin, he can tip 49 Dogecoin and a 1 Doge mining fee will be added to the transaction automatically, while a 50 Dogecoin tip will return a low balance error. If you like tipping mechanisms, it doesn’t get better than this.
Here is Help – Support
Community is a huge help when it comes to mining Dogecoin. The right resources can certainly help spark interest in newcomers. You can find support in this discord:https://discord.gg/nQ9aVTv
You can find some help also on https://sodogetip.xyz
How does Dogecoin mining work?
sodogetip is an on-chain cryptocurrency tipping bot. Every user is given their own address. Tips to the user go to that address, and tips and withdrawals from the user come out of that address. This means you can always check your account balance on any third-party blockchain explorer, even if the bot is down for maintenance.
When you tip or withdraw, the bot will pull inputs from your blockchain confirmed transactions first. In your +balance response, this is listed as confirmed transactions. In that message, you will also see a pending balance field.
This is your unconfirmed transactions to your account. Since the bot re-uses your registered address as the change-address, it is normal to see a pending balance right after you send a tip or make a withdrawal if it hasn’t been confirmed on the blockchain yet.
The spendable balance field is how much you can tip or withdraw at the moment. If your unconfirmed balance is from tips or withdrawals that were transactions generated by the bot, then they will be spendable even though they are still unconfirmed. However, if your unconfirmed balance is from a deposit from a 3rd party wallet or service, you will need to wait for at least 1 confirmation before those coins become spendable.
So, the bot does use unconfirmed transactions as inputs for tips and withdraws. However, it only uses them if the transactions were generated by the bot itself; in this way, we can be sure that the transaction won’t be double-spent. However, transaction malleability is still an issue for unconfirmed transactions, even if they are generated by the bot.
The bot has malleability detection built-in, and if a transaction that is sent is detected as being malleable, the bot will enter a failsafe mode for 24 hours until no more malleated transactions are detected, where it will only use confirmed transactions as inputs, no matter if they were generated by the bot or outside wallets.
In case this failsafe mode is activated, users may experience slow-downs in how quickly they are able to tip. They will need to wait for their previous transaction to be confirmed on the blockchain before sending another tip or withdrawing.
Is Dogecoin Mining Profitable
Compared to the likes of Bitcoin, Ethereum, or even Litecoin, mining Doge is not exactly the fastest way to earn your crypto millions. If you are mining solo, it might even take some time to earn dollars. You can use a Dogecoin mining calculator to determine how much you are earning.
While Dogecoin mining profitability is low, it doesn’t mean you should not mine Dogecoin. By all means, do. But if your plan is to make money with the coin, trading it is a better option. Mining Dogecoin should be more about having fun and doing something different rather than just making money if you want to enjoy it.
Will Dogecoin ever reach $1?
It is difficult to tell whether Dogecoin’s value will reach $1 given the volatility of the cryptocurrency market. However, if the meteoric rise of the digital currency in the past few months is anything to go by, anything is possible. At present, Dogecoin is trading at $0.0495. While many people might consider this to be low, those who have been observing the digital currency before now know it is a great improvement.
The price of the dogecoin token has increased tremendously mostly due to the support of Tesla CEO Elon Musk who tweeted positively about it on many occasions. In fact, Dogecoin was the most talked about digital asset last month with millions of mentions on Facebook, Twitter, and other social media platforms. It even went as far as to reach an all time high of $0.08395 on February 8. While there are skeptics who believe the cryptocurrency bubble will crash, there are signs that this is more than a bubble. If the price of other popular assets should continue to increase on cryptocurrency exchange, nothing stops from doing the same especially as the world is moving away from the dependence on central banks and other authorities.
How many Dogecoins can I mine in a day?
Based on the mining hardware inputs provided, 108.47127271 Dogecoin can be mined per day with a Dogecoin mining hash rate or hashing power of 2,200,000.00 KH/s, a reward of 10000 DOGE, and a Dogecoin difficulty of 4,080,015.62.
So, can I mine Dogecoin?
There’s more to mining than simply verifying transactions. Those who mine Dogecoin simply like the advantages that mining offers them over other digital currencies. The ease-of-use, simple setup, and high returns are some more factors that prompt miners to mine Dogecoin. And if you don’t want to mine Dogecoin, there’s so much more to do here.
If you look up any wallet on one of the blockchain explorers, you will see transactions, possibly many of them. Each block of coins is transferred from wallet to wallet in its entirety but can (and usually is) be split between different receivers. The last transaction containing these coins is called an Unspent Transaction Output or UTXO. These UTXOs are kept in memory (RAM) by all nodes, so the more there are, the more resources are required.
It is, therefore, a good idea to consolidate coins into fewer UTXOs. 100 doge could be a single UTXO, or it could be a hundred with 1 doge each, which is obviously less efficient. Also, since miners charge 1 doge per 1k block of data, and 1k can hold about six transactions, it will cost about 15 times more to spend the 1 doge UTXOs than the big one.
It is a good idea to use a set of cascading paper wallets (remember they don’t need to be printed… entries in a text file or spreadsheet are fine) to consolidate coins. If you like to mine Dogecoin, there are certainly many more options to explore. If you need to spend coins, you can sweep a wallet to the destination if the total amount in it is correct.
There are several sweeping services online, like dogechain.info and redeempaper.com, that you can use for spending. Two things that are critical with ALL wallets is to keep the keys safe and to not ever expose them to anyone else. ANYONE who knows a private key can spend the coins as they like. NO ONE can spend any coins without the private key.
Only you can decide whether mining Dogecoin suits you or not! At least now you know everything there is to mining operations and help you make an enlightened choice.
Happy mining!Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.