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I am using bitcoin for the first time. Do I need to run both bitcoin-qt and guiminer to start mining? I have installed both programs and currently bitcoin-qt is running and synchronizing with network and there are around 60 more weeks to go.

So I guess once synchronizing is done I will get a wallet? And then I can run guiminer so I can start mining in "Slush" mining pool? (I have already registered for an account and worker)

And once synchronizing is done I can close bitcoin-qt and then just use guiminer?

  • Here is the question parts i still have unanswered as I had the same query. As mentioned, in your answer/comments (The Piachu)my client does not need to get slush pool id,. So as of now my workers at the pool keep doing 0 CPS (all Hash rates/mining rates in cycles per second) and i guess at this stage my bitcoin-qt is giving me some solo mining ( Am I Right?) How do I get the clock ticking? And as part of the pool at slush's pool what is the time to first coins as of now? A year later with the current rate of additions to the pool, how does my share / time rate of reward change? -Elart – user10747 Dec 13 '13 at 11:06
  • This was posted as an answer, but it does not attempt to answer the question. It seems to be a follow-up question. Please instead ask your own question (see How to Ask). – Murch Dec 13 '13 at 11:28
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If you are mining at a pool, you don't need a client to be running - the pool will provide you with all necessary information.

If you are mining by yourself, you need to run the client to know what you need to put in a new block.

  • There is no option of saving wallet in guiminer. Is it okay? So it looks like I will save wallet in bitcoin-qt. How often do I need to save wallter, like everyday or after every transaction or it is automatically saved after you have saved it once? – Frank Martin Oct 30 '13 at 9:52
  • Your wallet is simply the storage for the private key(s) of your (public) bitcoin address(es). They are generated once in your bitcoin client, e.g. in bitcoin-qt. It's a good idea to make a backup of it, and to store that securely---it is the key to your bitcoins, after all. But afterwards, there is no need to save it again. – pyramids Oct 31 '13 at 21:21
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To answer your follow-up comment at the other answer you received:

Your bitcoin address is where you would like to receive the reward for your mining work. Either enter the address of a charity of your choice or get your own by creating a wallet. To create a wallet, you do either need a bitcoin client (any will do), or a web service to do so (e.g. the one at blockchain.info).

Sorry for not answering in a simple comment, but I can't as apparently I have insufficient reputation to do so.

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