Dogecoin, which started as a joke coin on the popular meme “doge”, has become an internet sensation. What makes it even more interesting is that unlike some other coins like say Quark , Doge doesn’t derive its value from some hidden gem of technology; it derives its value purely from memes and popularity. Now, what you might want to do next is create your own token, sell them for BTC/LTC, try to cash out big bucks so you can be rich right? Well if you are thinking about this I have news for ya…it’s not going to happen. The chances of being successful in pumping out a digital currency are extremely slim. You will need tons of resources just for marketing alone to get noticed.
You will need tons of resources just for marketing alone to get noticed.
On the other hand, if you are looking to mine coins to look cool , well this might be your cup of tea! Mining dogecoin is an interesting activity that can make you feel like a crypto king; seeing your hashrate go up as you accumulate more and more coins! You do however need sufficient hardware, which can be quite costly especially if you want to mine with GPUs (graphical cards). So without further ado here are 6 ways on how to mine Dogecoins (or any other scrypt coin) using the CPU or GPU:
1. Mine Directly Into Your Wallet Using Built-in Miner
This way involves setting up a wallet with a built-in miner on the most popular pieces of software that everyone uses: CGMW or GUIminer. Unfortunately, this is not an option anymore as most pools have adopted stratum mining. You can check out this list of pools and try to mine directly if you want to explore further.
2. Mine at One of Many Dogecoin Pools
Mining right from your own wallet might be impossible, but there are more than enough alternate options available for everyone’s taste! If you don’t like any of these then you can always go back to Method 1 and get your hands dirty! Now let us look into 4 major choices all pool operators love:
These are the top 5 pools according to their popularity, while there are many more worthy of considering if you want to alternate between them!
3. Build Your Own Mining Rig Using CPU/GPU
This is probably the most fun way of mining if you have sufficient hardware on hand! You can also mine at a good hashrate with either one or two GPUs in case you run into any compatibility issues with your motherboard/CPU combo (especially PCI-E). Most CPUs are not compatible however I have recently found out that some Celerons are compatible with newer mining software! The combination of both CPU and GPU would give you the best results though. You can use an Android phone or tablet to mine Dogecoin directly to your wallet, even when it’s not really optimized for mobile devices (CPU mining).
- cpuminer-multi (with optimization)
- minergate for Android
4. Join a Pool that Supports Merged Mining
This option requires an additional piece of software usually called “miner” which is used to manage all the individual miner instances in one place. For this type of setup your hardware needs to be capable of supporting multiple algorithms at once (not just sha or scrypt). You can then point all your miners at the pool, start mining for this particular algorithm and have them use the same username/password you have on “dirty” pools. Let’s take a look at some examples of pools that support merged mining:
With merged mining you are essentially competing against other cryptocurrencies like Bitcoin or Litecoin (for bitcoin its SHA256d or Scrypt) however instead of getting paid in BTC or LTC (respectively), these blocks get orphaned by whatever coin they were mined for originally; which means you would be receiving payment in whatever currency it was mined for.
5. CPU Mining Using a New Algorithm
If you are looking at some obscure alternative coin that is only available as CPU mineable then this method might be the most suitable one for you! A few algorithms like scrypt used to be quite popular before GPUs were mass produced, but now they provide no benefits (if not worse) as GPU optimized miner software was released; making it pretty much pointless, especially with CPUs becoming weaker and weaker on average compared to modern-day GPUs. Now there are however newer hashing algorithms like:
As of these articles those particular algorithms do not have any ASIC mining hardware available, however it is always good to check the list of upcoming hardware before you make any decisions. So if your coin is using one of these algorithms then chances are you can mine it in a pretty efficient manner with just your CPU! You can have both wallet and miner software running on the same machine but in terms of security that might not be necessary at all to consider.
Also, remember that your average PC/Laptop cannot mine X11 in a significant hashrate unless you run many threads simultaneously! If you are looking for some extra hashes without much effort then I suggest pointing your browser here . The site will load up multiple instances of minerd towards different pools so even if your computer cannot handle x11 alone it should be able to do it nicely in combination with all the other supporting algorithms being mined concurrently.
6. CPU Mining Using a Specific Piece of Hardware
If all else fails you could try purchasing some dedicated hardware just for mining, however I’m not very familiar with the current state of this market because I stopped following it after Scrypt ASICs came out. To make sure you are up-to-date on the best options available for your particular algorithm(s) I would suggest doing some research on bitcointalk forums where people are usually discussing these types of things!
Top 6 Ways to Mine Dogecoin with CPU or GPU: Final Words
For those of you looking for an easy starting point, I would suggest joining a pool that supports merged mining because it allows you to mine both relevant coins at once. You are effectively earning Dogecoin which can be easily traded into Bitcoin or Litecoin, so there is no downside at all even if the value of DOGE drops severely against BTC/LTC.