Last updated: November 2, 2018
Antivirus software pioneer and cryptocurrency warrior, John McAfee, thinks the price of one Bitcoin could hit $1 million by December 2020. If that prediction comes true, you may want to learn how to earn Bitcoin with Honeyminer sooner rather than later. Honeyminer is a free application that uses your computer’s spare resources to mine cryptocurrency.
Years have passed since it made financial sense to mine Bitcoin on a desktop or laptop computer. Honeyminer uses your computer’s CPU and/or GPU to mine altcoins/shitcoins (think Ethereum, Monero, Zcash, Feathercoin, etc.) instead of Bitcoin. According to their website, “Honeyminer’s proprietary algorithm will scan through dozens of cryptocurrencies to identify the most profitable coins to mine at any given time.” It then automatically converts the mined altcoins/shitcoins to Bitcoin (Bitcoin is BTC), and sends the BTC to your own Bitcoin wallet.
Although the eating of his own dick is on the line with his highball prediction, McAfee is not the only Bitcoin mega-bull. Other predictions by prominent leaders place the U.S. dollar price of one Bitcoin at $20,000 to $50,000 by the end of 2018, $250,000 by 2022, and even $500,000 by 2024. With the possibility of prices like that, even a fraction of a Bitcoin could possess substantial value in the not-so-distant future. A great way for newcomers and non-technical individuals to begin stacking their Bitcoin hoard is through Honeyminer. Not only is Honeyminer free to download, it is easy to set up too.
Download and Run Honeyminer
At the moment, only Windows computers run the Honeyminer app. A Mac version is in the works. To get started, download Honeyminer. On the sign-up page, input an email address, then select the Start earning now button.
Honeyminer downloads right away. An email with your account details (basically just your email address and a temporary password) arrives in your inbox. Log into the Honeyminer Dashboard with a web browser to change your password. Once the installation process completes, log into the Honeyminer app with your email address and new password.
Honeyminer automatically analyzes your computer’s CPU and GPU to calculate and estimate a daily rate of return. It starts mining when it launches. The app user interface displays key information at-a-glance. It is mostly intuitive and self-explanatory, but select the question mark icon in the upper right corner to display some informative overlays.
Reach the app settings by clicking the gear icon in the upper right corner. Configure features like when you want Honeyminer to start mining, and if you prefer GPU or CPU-only mining.
Access the more traditional mining interface by selecting the Miner console button. Real-time mining data for each CPU and GPU displays in a tabbed interface, as well as the coin being mined at the moment.
Select the Expert logs button to display a mining log. The log updates automatically every 15 seconds. It includes a timestamp, CPU or GPU mining, the mined coin, and the hash rate.
To HODL and Dream Big
For kicks, say your Honeymining capacity yields just one-tenth of what they depict in the screenshot above from their site, or around 6500 satoshis per day. A satoshi is the smallest unit of Bitcoin, one hundred millionth of a Bitcoin (1 satoshi = 0.00000001 BTC / 1 million satoshis = .01 BTC). If you mined with Honeyminer 300 days out of the year, you would receive around 2 million satoshis, or .02 BTC per year. With the U.S. dollar value of one Bitcoin at $8000, for example, your .02 BTC would have a value of $160. Let’s assume Mr. McAfee is right for a second, and the price of one Bitcoin grows 125 times from $8000 to $1 million by December 2020. Your $160 mining result grows to a value of $20,000 if you hold on to it.
What if you can match or exceed the 65,000 satoshi daily mining capacity shown in their screenshot for 300 days? That could become around $200,000 worth of BTC at the end of 2020 if J-Mac is right. Ah, to dream. Or is it? Give it a try and see for yourself.
References for November 2, 2018, release of Honeyminer 0.6.1
Bug Fix: “Start with operating system” bug in v0.6.0 fixed so Honeyminer launches when you start your computer once again.
Medium: New from Honeyminer: Remote Monitoring & Profitability Increases
Thank you for visiting Tech Help Knowledgebase to learn how to earn Bitcoin with Honeyminer. Some links in this article are referral links. Tech Help Knowledgebase may receive some benefit if you download and run Honeyminer by clicking those links.
Henry Irvine, Contributing Technology Writer, translates more than a decade of internet technology experience in product and customer relationship management into practical help and how-to content. Look for him on Bay Area trails, music venues, or sausage shacks when he’s not writing. Don’t call him Hank if you see him. Seriously. Hank on Twitter