👼 The Angelminers Knowledge Hub
Making sense of the world of Bitcoin Cash and solo-mining.
Cryptocurrency: A digital form of money that doesn't rely on banks. It uses a decentralized network of computers to keep track of who owns what.
Bitcoin Cash (BCH): A version of Bitcoin designed for fast transactions and low fees. We mine BCH because its lower "Difficulty" makes it more accessible for solo-miners compared to the original Bitcoin (BTC).
Blockchain: Imagine a digital notebook that everyone can see but no one can erase. Every time money moves, it’s written as a "block" in this notebook.
Mining: The process of using computer power to secure the network and process transactions. In exchange for this work, miners have a chance to earn a "Reward."
Hashrate: This is the "speed" of your miner. It’s measured in Terahashes per second (TH/s). Think of it like how many lottery tickets your computer can buy every second; the more you have, the higher your chances.
SHA-256: The specific mathematical "language" or algorithm used by Bitcoin and Bitcoin Cash. Only hardware designed for SHA-256 (like an ASIC) can mine these coins.
ASIC: Stands for Application-Specific Integrated Circuit. These are specialized machines built for one purpose only: mining cryptocurrency as efficiently as possible.
Solo-Mining: Unlike "Pool Mining" where everyone shares small crumbs of every block, solo-mining is a "winner takes all" model. It’s like a lottery: you might mine for months with no reward, but when you "hit" a block, you get the entire prize (minus our
33% charity donation).
Block Reward: The prize given to the miner who successfully "finds" a new block. Currently, for Bitcoin Cash, this is 3.125 BCH plus any transaction fees included in that block.
Confirmation: Once a block is found, the network needs to agree it is valid. This takes time (usually about 10–15 hours for 100 confirmations). We only pay out rewards once they are fully confirmed.
Proof of Donation: A verifiable record on the blockchain that shows the
33% of the reward (minus pool fee) leaving our pool and arriving at a charity’s wallet.
On-Chain: Anything that happens "On-Chain" is recorded forever on the blockchain. You can use a "Block Explorer" (like a search engine for crypto) to verify our transactions yourself.