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What is Bitcoin? => Mining => Topic started by: Bitcoin on Feb 14, 2021, 08:32 am

Title: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:32 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Where do bitcoins come from? With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government.
With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.
Bitcoin is Secure.
Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.
Links.
We Use Coins - Learn all about crypto-currency. Bitcoin News - Where the Bitcoin community gets news. Bitcoin Knowledge Podcast - Interviews with top people in Bitcoin.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Comparison.
Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:
AntMiner S7.
4.73 Th/s 0.25 W/Gh 8.8 pounds Yes N/A 0.1645.
AntMiner S9.
13.5 Th/s 0.098 W/Gh 8.1 pounds Yes N/A 0.3603.
Avalon6.
3.5 Th/s 0.29 W/Gh 9.5 pounds No N/A 0.1232.
Overview - Table of Contents Mining Hardware Comparison What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? What is the Blockchain? What is Proof of Work? What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty? The Computationally-Difficult Problem The Bitcoin Network Difficulty Metric The Block Reward.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain . This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
What is the Blockchain?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:33 am
This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
What is Proof of Work?
A proof of work is a piece of data which was difficult (costly, time-consuming) to produce so as to satisfy certain requirements. It must be trivial to check whether data satisfies said requirements.
Producing a proof of work can be a random process with low probability, so that a lot of trial and error is required on average before a valid proof of work is generated. Bitcoin uses the Hashcash proof of work.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty?
The Computationally-Difficult Problem.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the target in order for the block to be accepted by the network.
This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. See Proof of work for more information.
The Bitcoin Network Difficulty Metric.
The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.
As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.
The Block Reward.
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.
Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:37 am
What is a Bitcoin?
Bitcoin is an electronic payment system through a secure, verifiable and mathematical way. It is created by Satoshi Nakamoto in 2008 to produce a new means of exchange of money, independent of any centralization or central authority, which can be done electronically.
Traditional currency is printed and distributed by the Government based on demand and supply in the market. Bitcoin is introduced as a peer-to-peer currency without any central authority or any government body to issue the Coins and track their transactions.
What is Mining.
Where do the Bitcoins come from when there is no central authority to create and distribute? They come through Mining. Miners use a special software to solve the mathematical problems and complex mathematical algorithms to earn Bitcoins.
Bitcoin is the first and foremost digital currency in which new units of currency are generated through computational solution of mathematical algorithms. Bitcoins cannot be artificially inflated or deflated, or cannot be pumped into the market to boost the economy. They enter into the market only through Mining.
The independent and interconnected nodes or computers which solve the mathematical algorithms to create a Bitcoin are called the Miners. In 2009 the miners used to get 50 Bitcoins to solve a mathematical algorithm. This is becoming half in every 4 years due to increase in number of miners and usage of high power processors and Graphic cards. So, presently the person who solves the mathematical puzzle is earning 12.5 Bitcoins.
When the number of miners increase and high speed processors are used to solve the equations, the algorithms will become tougher to balance the number of bitcoins produced. In other words, the difficulty of the math problems increases with how fast they are being solved.
More number of miners = More difficult problems.
Miners use computers with high processor speeds to solve these math problems. Now they are using graphic cards which are proven to be faster in solving the problems. ASIC (Application specific integrated circuit) are specifically designed for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). They consume less power and are faster. As on today, every 10 minutes a Bitcoin is mined. The total number of Bitcoins that can ever be mined is fixed at 21 million. This number can be achieved by the year 2140 if Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is done at the same speed.
Apart from creating Bitcoins, mining also ensures that Bitcoin network is stable and secure. Miners will verify the new block created through a mathematical process and then add it to the block chain. Miners will be rewarded bitcoins even for verifying the blocks and using their computing resources for the benefit of the Bitcoin Network.
Pooling of Miners.
To break the difficulty of mining, the miners get pooled. A pool of miners can solve the problems faster and can earn bitcoins. Each miner of the pool will be rewarded proportionately to the amount of work they put in.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitable?
Updated 7 minutes ago.
While many investors, like Warren Buffett, are bearish on bitcoin, that hasn't stopped the iconic cryptocurrency's surge. As its price continues to soar, so has an interest in bitcoin as an investment. If you're new to the concept of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), here's everything you need to know about obtaining the cryptocurrency and what the future might hold for it.
Bitcoin launched in 2009, just in the aftermath of the 2008 global financial meltdown caused by the mortgage crisis. That makes some believe the cryptocurrency was built for financial crisis, which partly explains why interest in bitcoin has soared in the COVID-19 pandemic.
Although bitcoin is the oldest cryptocurrency in use today, many people still don't understand everything about itsuch as how to obtain bitcoin and the concept of mining it.
Side view of cryptocurrency mining computer.
You can obtain bitcoin in several ways. Merchants, for example, can accept it as a payment. Major retailers that accept the cryptocurrency as payment include Amazon-owned Whole Foods, Gamestop, Overstock.com, and Lowe's.
The other way to obtain bitcoin is purchasing it using fiat currency like the dollar, which you can do at crypto exchanges. Then there's Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the process of adding transaction records to the Bitcoin blockchain. Miners who help maintain the blockchain receive new coins as compensation for their labor. Therefore, mining is the primary way new coins are created.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:37 am
How do you mine bitcoin?
If you feel like getting into mining activity, you may wonder how bitcoin is mined. Cryptocurrency mining is a taxing activity that involves solving complex mathematical problems as part of verifying transactions on the blockchain.
Bitcoin miners rely on sophisticated computing machines to validate transactions on the blockchain for the chance to receive rewards. American chipmaker Nvidia is one of the suppliers of the powerful graphics processing chips used in cryptocurrency mining systems.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) legal?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is perfectly legal in the U.S. and many other countries. For example, China has a vibrant Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) industry, although authorities there routinely crackdown on the crypto industry.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be profitable. However, several factors will determine whether a cryptocurrency mining venture actually nets a profit. The factors include the cost of mining systems and the electricity to power them. Cryptocurrency mining systems typically use a lot of power.
The other factor is the difficulty of mining. The more people involved in mining bitcoin, the harder it gets to solve the mathematical problems needed to maintain the network. Therefore, mining can be profitable if the price of the bitcoin reward you receive is higher than the cost of mining it.
Can bitcoin be converted to cash?
If you hold some coins in your digital wallet, you can sell them on a cryptocurrency exchange for cash in fiat currencies like the dollar. You can withdraw the cash to your bank account or through platforms like PayPal to spend on purchases. You can also convert bitcoin to cash through bitcoin ATMs. There are thousands of cryptocurrency ATM locations around the world.
Which bitcoin wallet is best?
A bitcoin wallet holds your bitcoin assets and keeps them secure from hackers. The best wallets for secure storage are from cryptocurrency wallet providers like Coinbase, Binance, Exodus, Trezor, Electrum, and Mycelium, all of which are highly regarded among the cryptocurrency community.
"Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge. But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally."
Is bitcoin a good investment?
Bitcoin may be a good investment for those seeking alternative assets outside the traditional financial system that offer protection from inflation. While central banks can print an infinite amount of fiat currency and continue to dilute its value, the iconic cryptocurrency has a fixed supply capped at 21 million units. Therefore, bitcoin investors don't have to worry about inflation eroding the value of their investment.
DEATH OF DOLLAR. People desperate for money. Very sad. If government gives you free money take it yet spend it wisely. DO NOT SAVE. Buy gold, silver, Bitcoin. Dollar is dying. Silver $20. Best Buy for future security. Everyone can afford $20, especially with free fake money.
Will bitcoin replace the dollar?
Some believe the dollar will collapse one day and cryptocurrencies will take its place. The idea that bitcoin will replace the dollar is one reason some believe it's a good investment now.
The backlash that Facebook's Libra cryptocurrency received from monetary regulators around the world, including the Fed, made some to believe cryptocurrencies really pose serious existential threat to the dollar. However, nobody knows when bitcoin would replace the dollar, if at all.
The Complete Guide on What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Not sure what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? You're in the right place to find out!
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:38 am
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The popularity of Bitcoin is rising as more and more people are learning about it. However, it is still difficult to understand some ideas related to Bitcoin -- Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is definitely one of them.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? How does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) work? How long does it take to mine a Bitcoin. There are so many questions we ask ourselves when we first read about Bitcoin and mining. It's confusing, right?
It's okay, though. I'm here to help! In this guide, you will find all the answers you need. I'm going to make Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) simple and explain it to you in a way that is easy to understand. I'll talk about how mining works, what it is, and how to start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) yourself. By the end of this guide, you will have a much better understanding of the concept.
Not only that, if you find that mining this cryptocurrency is something that might interest you, you might then want to sell or trade it , too. For that, you should rely on some crypto exchange platforms - Binance and Kraken are two of the better options.
So, let's get started!
Table of Contents.
1. What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? 1.1. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Explained 2. What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): How Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work? 2.1. What is a Block and Blockchain Technology? 2.2. How Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work? 3. What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): How to Start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? 3.1. Get the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware 3.2. Join a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pool 3.3. Download Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software 3.4. Open a Bitcoin Wallet 4. What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): Is Mining Bitcoin Worth it for You? 4.1. What is a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Reward? 4.2. How Difficult is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? 4.3. How Much Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Cost? 4.4. How Much Profit Can You Make by Mining Bitcoin? 4.5. One More Important Thing 5. What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): Final Words.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the process of verifying, storing and securing Bitcoin transactions. Of course, there is much more to it than that . Before going into more about what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and how it works, though, keep in mind these two important things about Bitcoin itself:
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When you make a payment using credit card, the credit card company verifies and records the transaction . Now, when you make a payment using bitcoin, there is no central/third party like the credit card company to verify the transaction. Instead, it is verified by Bitcoin miners. Unlike traditional money ( USD, JPY, EUR etc .), which is printed by banks, Bitcoin cannot be printed by anyone. With traditional currencies, the bank can print as much money as they want because there is no maximum limit on it. Bitcoin, though, has a maximum limit of 21 million . This means there can only be 21 million Bitcoin ever created!
This is what Bitcoin is all about -- it works without middlemen ( like banks or credit card companies ).
As you can see, Bitcoin is very different from traditional payment systems like banks and credit card companies. As the cryptocurrency is not printed, though, how is new Bitcoin created?
Can you guess what the answer is?
If you thought it might be Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), you are right! So, yes, that's the purpose of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) -- to verify transactions and create new Bitcoin . But if that's what it does, how does it work? Let's get into more about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and answer the question that's still on all our minds: what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Explained.
As you now know, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the process of verifying Bitcoin transactions and creating new Bitcoin. The people who mine Bitcoin are known as Bitcoin miners. Well, I say " people ", but really, they are computers that are operated by people .
These computers ( which we call "nodes" ) have to be very powerful, as Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) uses a lot of computer power. They run software that connects them to the Bitcoin blockchain and solves mathematical problems.
When these mathematical problems are solved, new transactional data is verified and stored on the Bitcoin blockchain. So, the Bitcoin miners are verifying the transactions instead of banks and credit card companies. This means there is no third party to trust or rely on. Clever, right?
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:38 am
The basic requirements for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) are:
Specialized computers A strong internet connection Electricity (a lot of it!)
You might be thinking, why do these ' miners ' make all this effort? Surely it's very expensive? Well, that's a good question. Put simply, they do it because they are rewarded with Bitcoin .
That's right, Bitcoin miners are paid with new Bitcoin. This is the only way that new Bitcoin can be created!
At present, there are over 18 million Bitcoins that have been mined and the reward for mining one full block ( I'll explain blocks in a moment ) is set at 12.50 of Bitcoins . Remember, only 21 million Bitcoin can be mined in total; when all 21 million Bitcoins have been mined, no new Bitcoins can be created! So, now you know what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in total.
Now then -- what's a Bitcoin block?
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): How Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work?
Let's talk about blocks and the technology involved in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). You know that Bitcoin uses the blockchain , right? Well, that's where we get the term 'block' from .
Have you ever wondered which crypto exchanges are the best for your dating goals?
What is a Block and Blockchain Technology?
Many Bitcoin transactions happen at the same time. The transactions that happen at the same time are put into groups; these groups are called 'blocks' . It is these groups/blocks that Bitcoin miners must verify -- they verify the transactions in groups, instead of verifying them individually.
Once a block is verified, it gets added to a chain of blocks that have already been verified. That's why the technology behind Bitcoin is called the blockchain !
This will become easier to understand as I explain the step-by-step process of mining Bitcoins.
How Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work?
Step 1 : Imagine you want to buy a bed and pay using Bitcoins. If the cost of the bed is $300 , it will be around 0.046510 Bitcoin ( as of writing this, that is ). While you buy the bed, other people around the world also buy things with Bitcoin. Step 2 : The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) nodes ( the computers ) are told about these transactions that are happening. Step 3 : Now, the Bitcoin miner must verify your transaction. You cannot take your bed home until the Bitcoin miner verifies your transaction.
But, wait. What does verifying a transaction mean, and how is it done?
Bitcoin miners run Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software that solves mathematical problems -- imagine a computer completing a really complicated puzzle/jigsaw! With each block of transactions, the problem/puzzle that they must solve is different. Lots of Bitcoin miners try to solve the problem at the same time, but the miner that solves it first is the one who is rewarded with the new Bitcoin. It's just like a race! Bitcoin miners keep data of all the past transactions of Bitcoin that have ever happened. Let's call this the ' database of old transactions '. So what is a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) transaction ? When you send Bitcoin, the Bitcoin miners check the ' database of old transactions ' before verifying it. This makes sure that you have not spent the same Bitcoin in any of the past transactions. They also check if you own enough Bitcoin . In the bed example, the transaction was 0.046510 Bitcoin. So, the Bitcoin miners will check if you have 0.046510 Bitcoin before they verify it. If you don't have 0.046510 Bitcoin, your transaction will not be verified, and you can't buy the bed.
Okay, back to buying your bed...
Step 4 : The first miner to solve the puzzle ( let's call this miner 'John' ), must tell the rest of the nodes that he has solved the puzzle. Other miners then check to see if John's solution to the puzzle is correct. Step 5: When 51% of the other miners agree that John has the correct solution, your 0.046510 Bitcoin is verified and sent.
Note: The minimum time for verifying a transaction is 10 minutes. But with the increasing number of bitcoin transactions, it can sometimes be 35-40 minutes or more.
One of the best things about what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is that the person who chooses to become a miner doesn't need to know how to solve the problems or be good at mathematics. They just need Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware ( a powerful computer ) and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software .
As you can see, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is not that difficult to understand. That said, the next big question on your mind is probably something similar to ' how do you mine Bitcoin? ' Well, let's get right into it.
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What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): How to Start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Follow the steps below and you can become a Bitcoin miner yourself. If you don't want to, that's fine, too -- learning how to mine Bitcoin still helps you to gain a better understanding of the process of mining itself.
Get the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
The first step to start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is to purchase the mining hardware . Selecting the right hardware is important for the success of mining. So, what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) best hardware?
When Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) started, back in 2009, you could mine using basic computers -- like the ones we buy from retail stores! That computer's CPU ( central processing unit ) had enough power to quickly solve the mathematical problem.
As Bitcoin started to become more popular, the miners also began using more powerful computers. They used faster graphic processing units ( GPU ) that could solve the problems faster, meaning they would win the race and be rewarded with the new Bitcoin!
Guess what happened when Bitcoin became even more popular? Miners got even faster . Instead of using CPUs and GPUs, they started using specialized Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware called ASICs ( Application Specific Integrated Circuits ). So, if you want to win the race and mine Bitcoin now, you'll need an ASIC.
ASICs that are created for mining are very powerful and fast . They do not do anything else other than mining.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:38 am
If you want to buy an ASIC, you should compare different ASICs using:
The price; The hash rate ( this number tells you the power of the ASIC -- the higher the hash rate, the quicker the ASIC is ); The electricity requirement ( the lower this number is, the less electricity it uses ).
You can check the following comparison of different ASICs that are popular among beginners.
ASIC model Hash rate (TH/s) Electricity (W) Price (USD) Antminer S9 14.0 1372 2,694 Avalonminer 821 11.0 1200 3,190 Antminer R4 8.4 845 1,000.
You can also checkout ASICs available on Amazon and eBay.
Join a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pool.
There are two ways that you can start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). One is to start by yourself, which is called solo mining . Another way is to join a group of other Bitcoin miners - these are called mining pools .
So, what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool? Think of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools as large Bitcoin farms . Lots of miners combine the power of their Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. They also split the Bitcoin reward that they receive.
Imagine this: you're in a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool. Your computer power is 2% of the total power in the mining pool. If your mining pool wins the race to verify a block, you will get 2% of the new Bitcoin that the mining pool is rewarded with.
If you are a beginner, Bitcoin farming ( joining a mining pool ) is recommended . There are many different pools for you to choose from. Be careful and only choose well-known mining pools with a good reputation, though! Of course, they charge a fee, but it's normally quite small ( 1-3% ).
Some of the popular mining pools that I recommend for new miners are:
Slushpool : fees of 2%. Pool.BTC.com : fees of 2-3%. Kanopool : fees of 0.9% ( the cheapest of the three! ).
Download Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software.
You could have the best mining hardware in the world, but without Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software , the hardware is useless .
Mining software is needed to access the Bitcoin network and the ' database of old transactions '. You also need it if you want to join a mining pool.
There are different types of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software available. There are different ones for different operating systems -- like Mac OS, Windows and Linux . Some of the most popular software that supports mining with ASICs are:
CG miner ( Download here )
Available for Windows, Linux and Mac; Can be used with GPU/ASIC; Free to download!
BitMinter ( Download here )
Open a Bitcoin Wallet.
Once you have set up your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, downloaded your software, and joined a mining pool, you can start mining Bitcoins! But wait, you're going to be rewarded in Bitcoins, right? So, have you thought about where will you store these Bitcoins?
Unlike traditional money, Bitcoin cannot be stored in your bank account. Instead, you store them in a Bitcoin wallet! So, what is a Bitcoin wallet ?
You must be very careful when choosing a wallet or you could lose your Bitcoin. Many people have lost a lot of money because their Bitcoin wallets got hacked.
There are three types of Bitcoin wallets -- web wallets , software wallets and hardware wallets .
Web wallets and software wallets are always connected to the internet. To use/access a web wallet, you go to a website. To use/access a software wallet, you go to an app.
I do not recommend using a web wallet, as this is the least safe option. If you want to download a software wallet, I recommend Exodus.
Hardware wallets are more secure because they are not connected to the internet. They are actual physical devices that you can store your Bitcoin on; you connect your hardware wallet to your computer via USB.
Three of the most popular hardware wallets that I recommend are:
Price - $110 Great security features, including a USB connection that cannot get viruses (+) Can be linked to a Dropbox account (+) Can't store many cryptocurrencies other than Bitcoin (-)
Price $116 Easy to use (+) Can store 10+ different cryptocurrencies and ERC-20 tokens also (+)
Price $49 User-friendly (+) Great design (+) Very new, still has to prove itself (-)
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): Is Mining Bitcoin Worth it for You?
The answer to this question is different from person to person. It might be right for you, but it might not be right for someone else.
What is a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Reward?
The current number of Bitcoins that miners are rewarded with per block is 12.5 . That's right, 12.5 Bitcoins are given to the first miner to solve the problem ( verify the transaction ) of each block.
This number halves every 4 years, though. So, at some point in 2020, the reward will go down to 6.25 Bitcoin per block.
It's 12.5 Bitcoins per block right now?! So, how long does it take to mine a Bitcoin? Well, one block takes 10 minutes to mine. That means one Bitcoin is mined every 48 seconds .
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:39 am
How Difficult is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
As more and more Bitcoin miners join the network, the difficulty level of the mining also increases. This simply means that the miners/mining pools with more powerful hardware will win. Also, it means that you would need to buy more expensive hardware .
How Much Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Cost?
Let's go through what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) cost? Two of the main costs involved with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) are:
Hardware/computer costs : Even for beginners, the cost of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware would be $600-$1000 and it is much more expensive if you want to buy the best hardware available. Electricity costs : Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) uses a lot of electricity! The cost of electricity at your location can make a huge difference in the cost of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). If the electricity in your area is too expensive, you might lose money by mining Bitcoins instead of making money.
If you join a mining pool, remember to also think about mining pool fees -- 1-3% .
How Much Profit Can You Make by Mining Bitcoin?
The easiest way to find out how much profit you can make is to use an online calculator! There are many different Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculators on the internet. I recommend CryptoCompare's Mining Calculator .
You'll need to enter:
Hashing power -- the power of your hardware ( which you can find out once you have chosen which hardware you are going to buy ); Power consumption -- how much electricity your hardware uses ( again, you can find this out once you have chosen which hardware you are going to buy ); Cost per KWh ( $ ) -- how much your electricity costs ( if you don't use USD, you can use Google's Currency Converter ); Pool fee -- the fee for the mining pool you are joining.
Make sure you think about the cost of your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. You should include the cost of your hardware in your calculations so that you find out your real profit.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and how does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) work?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), on its own, is harmless and involves using a computer to solve difficult mathematical equations for a user to earn bitcoins. The user earns bitcoins by verifying transactions on the blockchain, which is a digital ledger, similar to a bank ledger, that tracks all transactions for a particular cryptocurrency. Every time a hash solution is made, the user who dissolves it earns bitcoins.
However, to solve math problems, the computer must run without stopping, which results in a large expenditure of CPU power. This requires a lot of electricity. Hackers have started hijacking other people's computers for use, their resources, and the electricity used for mining Bitcoin, which the hacker can take advantage of.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) uses malware. Hackers have written malware with the ability to access your computer and use its resources to mine Bitcoin and other cryptocurrencies. For a hacker to earn cryptocurrencies, he must verify transactions on the blockchain. Cryptocurrencies depend on this to maintain solvency.
Each transaction generates a hashed identifier. In the Bitcoin blockchain, the hash is 256-bit crypto, which is basically a password. Every computer on the network tries to figure out a 256-bit password, and if something goes wrong with even one character, the hash will not be resolved. Other computers are validating the originality of the "winning" computing solutions. All this work is rewarded with cryptocurrencies, in this case, Bitcoin.
In some cryptocurrency ecosystems, users also gain voting rights in the governance structure of the system. This means they can vote on the decisions the development team makes about the future of the coin, its symbol, and how to use it.
Although it is not difficult for a computer to solve fragmentation, to do it fast enough that the problem is resolved before other users' computers solve it, the computer must be fast. But a fast computer is not enough. Since the CPU tries to generate a response as quickly as possible, it has to fire billions of electrical pulses in a short period of time. To prevent the computer from burning out, the powerful fans run constantly. This requires a lot of electricity. This is the reason why stalk your computer, to take it to a mining pool for hacked bitcoins.
installs Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) malware on hundreds of computers to divide the work between them. All computers become Bitcoin miners to verify Bitcoin transactions. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculators have calculated electrical withdrawals for these operations, which are enough to make electricity bills soar, burn CPUs, and computer crashes completely.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:39 am
How to mine bitcoins.
Miners are paid for their work as auditors. They do a job of verifying the legality of Bitcoin transactions. This agreement aims to preserve the authenticity of Bitcoin users and was designed by Satoshi Nakamoto, the founder of Bitcoin. By verifying transactions, miners help prevent the "double spending problem."
Double spending is a scenario where the owner of a bitcoin illegally spends the same bitcoin twice. With physical currency, this is not a problem: once someone handles a $ 20 bill for a bottle of vodka, they no longer have it, so there is no risk of using the same $ 20 bill to buy lottery tickets neighbor. While there is the possibility of making fake money, it is not the same as spending the same dollar twice. However, with digital currency, as the Investopedia Dictionary explains, "there is a risk that the owner may make a copy of the digital code and send it to a dealer or other party while retaining the original."
Suppose you have a legitimate $ 20 bill and a fake $ 20 coin. If you were to try to spend both the real and the fake bill, the person who went to the trouble to look at the serial numbers on the bills would see that they are the same number and therefore one of them must be false. What a Bitcoin miner does is similar to this: they verify transactions to make sure that users have not illegally tried to spend the same bitcoin twice. This is not a perfect analogy.
Once miners verify 1 megabyte (megabyte) Bitcoin transactions, known as a "block," these miners are eligible to be rewarded with an amount of bitcoin. The 1MB limit was set by Satoshi Nakamoto, which is controversial as some miners believe that the block size should be increased to hold more data, which means that the Bitcoin network can process and verify transactions faster.
Please note that verifying a 1MB transaction makes a coin miner eligible to earn bitcoins - not everyone who verifies transactions will be paid.
In theory, 1MB of transactions could be as small as a single transaction (although this is not common at all) or several thousand. It depends on the amount of data that the transactions consume.
"After all this transaction verification work, I still can't get bitcoins for that?"
To earn Bitcoin, you must meet two conditions. One is a matter of effort. One is a matter of luck.
1) You should verify transactions with a value of about 1MB. This is the easy part.
2) You must be the first miner to arrive at the correct answer or the closest answer to a number problem. This process is also known as proof of work.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profit Calculator.
Why Our Calculator is the Most Accurate.
There are many factors that affect your mining profitability. Two of the main factors that influence your profitability are:
The Bitcoin price and the total network hash rate.
The Bitcoin network hash rate is growing at a rate of 0.4527678% per day. This means if you buy 50 TH/s of mining hardware your total share of the network will go DOWN every day compared to the total network hash rate.
Our calculator assumes the 0.4527678% daily increase in network hash rate that has been the average daily increase over the past 6 months.
Without factoring in this growth, most Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculators show results that appear MUCH, MUCH more profitable than reality.
Quick Tip.
Mining is not the fastest way to get bitcoins.
The Bitcoin Price.
Even though the network hash rate will cause your share of the network hash power to go down, the Bitcoin price can help make up some of these losses.
The Bitcoin price is rising at a slightly lesser 0.3403% per day over the past year. We suggest you enter a custom Bitcoin price into our calculator based on what you expect the average price to be over the next year.
The price has gone down for most of the past year, which is a factor that should be strongly considered in your calculations.
What our Calculator Assumes.
Since our calculator only projects one year out, we assume the block reward to be 6.25. We also use the current Bitcoin price in our calculations, but you can change the Bitcoin price to anything you'd like to get better data.
Factors That Affect Mining Profitability.
Mining can be an effective way to generate passive income. However, there are numerous factors that affect mining profitability, and often times they are out of your control.
Some seem to believe they will be able to quit their nine-to-five job after investing in a few Bitcoin miners - unfortunately, that is not necessarily the case.
How do you know if mining is right for you?
It is important to understand the constantly changing dynamics that play into mining profitability, especially before you invest your hard-earned money. Nevertheless, a proper passive income can be generated if you play your cards right. Let's explore the factors that you need to consider before you buy mining hardware:
Mining or buying bitcoins? You can't do either without a Bitcoin wallet.
Our guide on the best bitcoin wallets will help you pick one. Read it here!
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:39 am
Initial Investment.
The initial investment in efficient mining hardware is probably one of the things keeping you from pulling the trigger, and for good reason. Mining hardware is expensive!
In actuality, the high cost of dedicated mining hardware ASICs (Application Specific Integrated Circuits) is largely to blame for the centralization of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in China.
In case you were not aware, the vast majority of mining operations are in China, primarily because of cheap electricity (more on that later.) Since ASICs are expensive, many average consumers do not have the capital to invest.
Large mining corporations operate mining farms with thousands of ASICs. The average Joe can't even afford one ASIC, much less thousands of them.
Instead of mining being spread out across the world, the validation process is controlled by fewer people than first anticipated upon Bitcoin's inception.
ASICs' impact on Bitcoin aside, it is important to determine your ROI timeline before investing. Some hardware might not pay itself off at all. The additional factors below are largely responsible for determining your ROI period.
You can use the calculator above to determine your projected earnings based on the ASIC you're using, and your electricity cost.
Block Rewards and Transaction Fees.
Every time a block is validated, the person who contributed the necessary computational power is given a block reward in the form of new-minted BTC and transaction fees.
Bitcoin's block time is roughly 10 minutes. Every 10 minutes or so, a block is verified and a block reward is issued to the miner. When Bitcoin was first created, miners received 50 BTC for verifying a block. Every 210,000 blocks - roughly 4 years - the amount of BTC in the block reward halves.
50 BTC per block may seem high, but it is important to consider the price of Bitcoin at that time was much less than it is today. As the Bitcoin block reward continues to halve, the value of Bitcoin is predicted to increase. So far, that trend has remained true.
First, the amount of newly minted BTC (often referred to as coinbase, not to be confused with the Coinbase exchange) halved to 25 BTC, and the current coinbase reward is 12.5 BTC. Eventually, there will be a circulating supply of 21 million BTC and coinbase rewards will cease to exist.
If BTC is no longer minted, mining won't be profitable anymore, right?
Bitcoin transaction fees are issued to miners as an incentive to continue validating the network. By the time 21 million BTC has been minted, transaction volume on the network will have increased significantly and miners' profitability will remain roughly the same.
Of course, block rewards have a direct impact on your mining profitability, as does the value of BTC - since the value of BTC is volatile, block rewards will vary. Additionally, successfully confirming a block is the only way you will generate any revenue whatsoever by mining.
This leads us to our next point:
Block Difficulty.
If you were able to connect the dots, you probably realized that a block reward is worth a whole lot of money. Take a look:
12.5 BTC x current BTC value (approximately $7,200) = $90,500. NOTE: The market is currently bearish - block rewards are always subject to change.
If block rewards are worth so much, why isn't everyone buying ASICs?
Mining Bitcoin is not easy - that's why millions of dollars have been invested to research, develop, prototype and sell specialized mining hardware.
Even if you invest in a specialized mining ASIC which can cost thousands of dollars, your chances of successfully validating a block on your own are slim.
ASICs have caused Bitcoin's mining difficulty to skyrocket. Moreover, you're competing with everyone else on the network to validate a block. Those with more computational power are more likely to validate a block.
As stated previously, companies have set up large-scale mining operations in China with thousands of ASICs running in synchrony. They're more likely to confirm the block than you are on your own.
Nevertheless, there are ways for the little guy to turn a profit. If you want to start mining Bitcoin, consider joining a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool. You'll team up with other miners to increase your collective hashing power, thus increasing your chances of validating a block.
If a block is validated by your mining pool, the block reward will be distributed according to the amount of computational power you contributed. For example, if you were responsible for 5% of the hashing power, you'd receive 5% of the block reward, minus pool fees.
Mining pools may not seem appealing at first because you have to divvy up the reward, but they're actually a smart move, as they significantly increase your odds of validating a block. Otherwise, you may end up consuming loads of electricity without actually being rewarded for your work.
Speaking of electricity:
Electricity Cost.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:54 am

Bitcoin Cloud Mining in 2019 Review - Profitable? Scam? Rock Miner - Genesis Mining - Hashflare|12:31
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:54 am
Electricity cost is probably the factor that has the most impact on mining profitability.
After all, Bitcoin's SHA-256 mining algorithm is classified as Proof-of-Work (PoW) because work must be done to validate the network. The 'work' is computational power - therefore electricity is required to validate the network.
Always look at a miner's hashrate/power consumption ratio. Ideally, you want an ASIC that has a high hashrate and low power consumption. Such an ASIC would be efficient and profitable because you'd hopefully validate a block which would be worth more than your electricity costs.
If you don't successfully validate a block, you'll end up spending money on electricity without anything to show for your investment. If you want to maximize your profitability, purchase the most efficient ASIC and mine where electricity is cheap.
In the United States, the average electricity cost is around $0.12 cents per kilowatt-hour. In other countries, electricity cost will vary. Asia's electricity is particularly cheap, which is why China is home to many mining operations.
Taxes.
Paying taxes is the one thing that many people forget about when they are trying to figure out if mining is porfitable or not.
Just like any business, miners must also pay taxes on the profits, which makes margins even tighter for the miner.
Make sure that when you are calculating your mining profitability, you also consider what the tax situation on mining is like in your country and use a crypto tax software to help you out.
Conclusion.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is very competitive. If you are looking to generate passive income by mining Bitcoin, it is possible, but you have to play your cards right.
In order to profitably mine, make sure that you: Mine with cheap electricity Buy the most efficient miner you can Join a mining pool Have patience.
Now you have the tools to make a more informed decision. Mining is competitive, yet rewarding. If you invest in the proper hardware and combine your hashing power with others', your odds of turning a profit will increase considerably.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator.
Enter your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hashrate, power consumption in watts, and costs.
Accurate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners.
Developed for miners by miners. Our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator makes it simple and easy to quickly see Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability based on hashrate, power consumption, and costs. Default inputs are preloaded with the latest Bitcoin difficulty target and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hashrate for the best Bitcoin miner.
Bitcoin Miners.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Reward Estimates.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability calculator results.
Bitcoin Profit Margin -->
Mining Rewards Stats -->
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Investment -->
Estimated Mining Rewards -->
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profit -->
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Reward Forecasts.
Time Frame BTC Reward Revenue USD* Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00003275 $0.61 $0.16 $0.00 $0.45 Daily 0.00078595 $14.73 $3.90 $0.00 $10.83 Weekly 0.00550162 $103.11 $27.30 $0.00 $75.81 Monthly 0.0236 $441.90 $117.00 $0.00 $324.90 Annually 0.2869 $5,376.44 $1,423.50 $0.00 $3,952.94.
* Bitcoin Price at $18,741.70 USD.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator Inputs.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty Bitcoin Block Reward Bitcoin Price 17,596,801,059,571.00 6.25 BTC $18,741.70 (BTC to USD) Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hashrate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Watts Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Cost Electricity Costs 110.00 TH/s 3,250 Watts $2,407.00 $0.05 per kWh.
Bitcoin Blockchain Mining Summary.
Bitcoin Blockchain Stats -->
Bitcoin Block Reward -->
Bitcoin Hashrate -->
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty -->
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Rewards -->
How to use the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator?
Every aspect of our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator has been developed for miners by miners .
The latest version of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator makes it simple and easy to quickly calculate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profits by adjusting the mining hashrate values or by selecting one of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware devices from the ASIC Bitcoin miners list.
The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) information is updated continually with the current block mining information. This information is used as the default inputs for the BTC mining calculator along with the default hashrate and wattage specs from the best ASIC Bitcoin miner.
With this information and our backend hashrate calculator, you can calculate your BTC mining profits - providing valuable and strategic profitability information allowing you as the miner to make better informed decisions about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Along with the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability, the list of top 5 ASIC Bitcoin miners is updated frequently. A Bitcoin miner is also referred to as a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig, or a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware device, or a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine, but we simply call them miners, or more specifically, Bitcoin miners.
Each BTC mining calculator input has been preloaded with the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware hashrate and energy consumption in watts, average electricity costs as well as the current Bitcoin price, Bitcoin block reward, and Bitcoin difficulty.
Calculate your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability and estimated mining rewards by starting with the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hashrate calculator inputs above; mining hardware, mining costs, and mining reward.
How Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Works.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the process of securing and validation Bitcoin transactions on the Bitcoin blockchain.
In order to secure and validation transactions - Bitcoin miners are constantly trying to solve the next Bitcoin block.
This process requires an enormous amount of computing power, which is represented by the Bitcoin hashrate.
The Bitcoin hashrate is number of possible solutions (hashes) being generated per second. As of January 2020, the Bitcoin hashrate peaked at 131 EH/s.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) also generates new Bitcoin.
When a Bitcoin miner finds the correct hash to solve the next Bitcoin block, the miner is rewarded with Bitcoin.
Currently, 6.25 Bitcoin are created when a block is solved.
To start mining Bitcoin, you'll need cheap electricity (a lot of it), an internet connection, and at least one Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware device - an ASIC Bitcoin miner.
In the very early days (2009-2011) you could mine Bitcoin with a CPU, then mining software was created to utilize the computing power of a GPU, then came FPGAs, and in 2013 the first ASIC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) devices became available.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:55 am

Best Bitcoin Mining Site - Without Investment - Payment Proof!|7:47
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:55 am
Now, all Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is done using an ASIC Bitcoin miner as it is no longer profitable to mine with a CPU, GPU or FPGA.
That being said, most ASIC miners require 220 volts or higher and at least 20 AMPs. You can check the Bitcoin miner specs to see the power requirements.
At this point you should determine your available power capacity in wattage at the location where you'll be mining.
If you have a 200 AMPs electrical service with 220 volts, then the total power capacity is 200 AMPs * 220 volts = 44,000 watts.
But you never want to use more than 75% of that capacity, otherwise you'll trip the breakers.
So, 44,000 watts becomes 33,000 watts of usable power capacity.
Now that you know how much power capacity you have (more is better), you can determine how many miners you can run. In this case, it would be about 11 Bitmain Antminer S17+ at 2,920 watts per device.
Once you have the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware in hand, the last step is to configure each miner.
Typically, the configuration consists of setting the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool, user name, and password.
Most Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) device manufacturers provide a guide on how to configure the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools.
Given the Bitcoin hashrate, it is statically impossible to generate enough hashes to solve a Bitcoin block mining solo (by yourself).
To increase the chances of solving a Bitcoin block, you can join a pool of other miners all working together to solve a block.
Once a block is solved the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) reward is split between the pool participants.
And in turn the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool charges a small fee, typically 1% to 4%.
Here is a list of popular Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools.
F2Pool Poolin SlushPool AntPool BTC.com ViaBTC.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) still profitable?
Yes, mining Bitcoin is still profitable - based on the mining hardware hashrate of 110.00 TH/s, electricity costs, and pool / maintenance fees provided.
While, mining Bitcoin is still profitable as of right now.
Mining profitability can change very quickly.
The blockchain is constantly growing and the Bitcoin difficulty increases and decreases over time based on the total computing power currently mining blocks and generating hashes.
That said, we recommend checking your mining profitability frequently.
The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability results and mining rewards were calculated using the best BTC mining calculator with the following inputs.
A BTC mining difficulty of 17,596,801,059,571.00, a BTC mining hashrate of 110.00 TH/s consuming 3,250 watts of power at $0.05 per kWh, and a block reward of 6.25 BTC at $18,741.70 (BTC to USD).
How many Bitcoin can you mine a day?
Based the mining hardware inputs provided, 0.00078595 Bitcoin can be mined per day with a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hashrate of 110.00 TH/s, a block reward of 6.25 BTC, and a Bitcoin difficulty of 17,596,801,059,571.00.
After deducting mining power costs and mining fees, the final daily Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profit is $10.83 Bitcoin to USD .
How long does it take to mine 1 Bitcoin?
As of Saturday, November 21, 2020, it would take 1,272.4 days to mine 1 Bitcoin at the current Bitcoin difficulty level along with the mining hashrate and block reward; a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hashrate of 110.00 TH/s consuming 3,250.00 watts of power at $0.05 per kWh, and a block reward of 6.25 BTC.
It is important to point out that the number of days calculated does not account for difficulty increases and decrease as well as block reward increases and decrease (halvening).
Profit Details.
No records found.
Disclosure: The Profit Details are the result of a chosen budget of $ 10,000.00 to purchase Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) servers that are hashing 76 TH/s at a price of $ 25 per terahash. This assumes a total hashrate of 400.00 . The Profit Details also take in consideration the current network hash rate of 1.7596801059571E13 and current BTC/USD exchange rate of 1 BTC = $ 18,785.50 . These figures vary based on the total network hash rate and on the BTC to USD conversion rate. Block reward is fixed at 6.25 BTC. The Profit Details do not take into account any future changes in block rewards, hashrate and difficulty rate. All inputs in this calculator vary over time. The profit details is based on current values only and should be used as a guide only.
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When we use "Permianchain.com", 'we', 'our' or 'us' throughout this Policy, we're referring to our corporation PermianChain Technologies Inc. and any one of our entities. Our legal entities are registered in Canada and all may act as data controller of your personal information.
Our Privacy Policy explains which personal information we collect from you, how we store it and use it. It also covers how we treat information you give to us, and information we take from third parties. It contains important information about your rights. We hope you read the Policy carefully so you understand and feel comfortable with how we treat your personal information. By engaging with us in the ways set out in this Policy, you confirm that you have read and understood the entirety of this Policy, as it applies to you.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:56 am

How to Cloud Mine Cryptocurrencies COMPLETE Guide! (EASIEST GUIDE)|6:47
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:57 am
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We collect and process your information in these circumstances: When you give us your personal information by phone, email, and via our website and via our email marketing website MailChimp.com, in writing or otherwise. This includes but isn't limited to information you give us when you register an account, register for email alerts, request literature or signup for newsletters. The information you give us can include your name, address, email address and other contact information. It may also include, depending on the nature of the relationship you intend to have with us, the information you provide during the KYC verification process, including a copy of your passport, a copy of your identification documents, proof of your address and documents which evidence your source of wealth, in addition to any other documents required by us in order to complete the KYC verification process and other details. When you visit our premises: Because of our security policies and procedures in our office premises, we will collect images of visitors using CCTV footage. When you visit our website: When you visit our websites, we automatically collect information which includes: the Internet Protocol (IP) address used to connect your computer to the internet, your login information, your geographic location, your browser and browser plug-in type and version, and your operating system and platform. We also collect information each time you visit for fraud detection and prevention purposes to monitor for potential breaches to your account, and to identify any malicious software that may affect users of our website and services. When we receive your information from third party service providers: We may receive information about you from third party service providers such as credit reference agencies, payment service providers, or analytics providers. If we don't receive all of the personal information we've requested from you, then we won't be able to provide all of our products and services to you.
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We use your personal information in the following ways: To provide you with any services and/or information you request from us. This also includes carrying out any obligations specified in any contracts between us. To comply with our legal and regulatory obligations, co-operate with our regulators and law enforcement agencies and to prevent and detect crime. To improve the quality of our services and to train our staff. To let you know about any changes we make to our service. To process any job application you submit, or that an agency submits for you. To tell you (by mail, email, telephone or otherwise) about products and services we think you could be interested in, based on our products you already have or have shown an interest in. You can opt out of this communication at any time. To confirm your identity and address, which may include using automated decisions when we carry out financial crime checks. To request your feedback on our services via a third party we've chosen (we'll only share your name and email address). Gathering data for analysis and research, and to provide management information or other services internally and to third parties. To administer our site and for internal operations, including troubleshooting, data analysis, load management, testing, research, statistical and survey purposes. To improve our sites to make sure that our content is as effective as we can for you and for your computer. As part of our efforts to keep our site safe and secure and to prevent and detect money laundering, financial crime and other crime. To monitor, record, store and use any telephone, email or other communication with you. We'll update your records with any new information you or a third party give us, and we'll add it to any information we already have. When you call we collect the Calling Line Identification information and keep a copy of the call for training and security purposes. We'll also use your information to help improve our efficiency and effectiveness. To deal with any enquiries or issues you have about how we collect, store and use your information, or any requests made by you for a copy of the information we hold about you. For internal corporate reporting, business administration, ensuring adequate insurance coverage for our business, ensuring the security of company facilities, research and development, and to identify and implement business efficiencies.
INFORMATION SECURITY.
We take the security of your personal data very seriously, and we use appropriate technologies and procedures to protect your personal information. We review our policies regularly and update them whenever needed to protect you, and to meet our business needs, changes in technology, and regulatory requirements. Here are examples of the ways we protect your data: We have appropriate technical and organisational measures in place to protect you against accidental loss and unauthorised access, use, destruction or disclosure of your data. We have a business continuity and disaster recovery plan that is designed to help us offer our services and protect our people and assets no matter what happens. We place appropriate restrictions on access to personal information. We implement measures and controls, including monitoring and physical measures, to store and transfer data securely. We complete data protection impact assessments in accordance with legal requirements and our business policies. We provide data security training for our employees. We use a stringent approach to vendor risk management. The internet is an open medium and we can't guarantee that any information you send to us by email or via our sites won't be intercepted or tampered with. Any transmission is at your own risk. To help protect your personal information and minimise the risk of it being intercepted by unauthorised third parties, we have secure servers so that when you submit information to us through our site it is protected. Once we've received your information, we use strict procedures and security features to try to prevent unauthorised access.
OUR LEGAL BASIS FOR USING YOUR INFORMATION.
Our legal basis for collecting and using your personal information depends on the exact type of information and how and when we collect it. However, we'll normally only collect personal information from you or another third party where one of the following applies: we need your personal information to perform a contract with you (for example in connection with your investment; it's in our legitimate interests or the legitimate interests of others (for example, to ensure the security of our website). Our legitimate interests are to: run, grow and develop our business; ensure a safe environment for our staff and website visitors; marketing, market research and business development; provide client services; and, for internal group administrative purposes. we have a legal obligation to collect your personal information (such as for tax reporting or to comply with all regulatory requirements which apply to us).
HOW AND WHEN WE SHARE YOUR INFORMATION.
We'll share your personal information with other members of our group to help us to improve our products and to contact you to tell you about new or improved products and services which we think you could be interested in.
We also share your information with third parties, including sub-contractors including but not limited to payment service providers, our professional advisors such as lawyers, auditors, and insurers, our bank and to service and software providers that help us improve and optimise our sites.
Our reasons for sharing your information with these service providers include to uphold our part of any contract we enter into with them or you and to operate our services.
We will also disclose your information to third parties: where it is in our legitimate interests to do so to run, grow and develop our business: if we sell or buy any business or assets, we may disclose your personal information to the prospective seller or buyer of such business or assets; if substantially all of our assets are acquired by a third party, in which case personal information held by us will be one of the transferred assets; if we are under a duty to disclose or share your personal information: in order to comply with any legal obligation, any lawful request from government, judicial bodies or agencies to make sure we comply with our legal and regulatory obligations; with law enforcement officials; and as may be required to meet national security or law enforcement requirements or prevent illegal activity; to work with fraud prevention agencies, other companies and organisations to prevent or detect financial and other crime. in order to enforce or apply our terms and conditions or any other agreement or to respond to any claims, to protect our rights or the rights of a third party, to protect the safety of any person or to prevent any illegal activity. When we share your information with third parties, we make sure the appropriate safeguards are in place to protect your personal information. We will never sell, trade, or rent your personal information to anyone.
INTERNATIONAL DATA TRANSFERS.
We usually store your information on our secure servers or with our hosting provider's server, in our case, we use Amazon Web Services (AWS), in Canada.
If you are a resident of the EEA, we may transfer your personal information to be held on our servers in Canada, a country which has been found by the European Commission to provide adequate protection for personal data. For further information about our international data transfer practices, and to consult the said contractual measures, please contact us using the contact details below.
HOW LONG WE STORE YOUR PERSONAL INFORMATION.
We keep the personal information we collect from you and other third parties, where we have an ongoing legitimate business need to do so (for example, to provide you with a service you have requested or to comply with applicable legal, tax or accounting requirements).
When we have no ongoing legitimate business need to hold your personal information, we will either delete or anonymise it. If we can't do this (for example, because your personal information is stored in backup archives), we'll securely store your personal information, only use it for a purpose we've already communicated to you, and isolate it from any further processing until archives are deleted.
MARKETING.
We may collect and use your personal information for undertaking marketing by email, telephone and post. We may send you certain direct marketing communications (including electronic marketing communications to existing customers) if it is in our legitimate interests to do so for marketing and business development purposes.
You have the right to ask us not to process your personal information for marketing purposes. You can do this by contacting us by post or email using the details in the "Contact Us" section below. You can also unsubscribe from emails by following the unsubscribe instructions included in every email.
YOUR RIGHTS.
Right of access: You have the right of access to any personal information we hold about you. You can ask us for a copy of your personal information; confirmation whether your personal information is being used by us; details about how and why it is being used; and (if you are a resident of the EU) details of what safeguards are in place if we transfer your information outside of the European Economic Area. Right of to update your information: If any of the information we hold is inaccurate, you can ask us to make any necessary amendments. Complaints: If you have any complaints or concerns about our handling of your personal information please do get in touch with us and we will do our best to resolve these. contact us.
If you are a resident of the EU you have the right to complain about our collection and use of your personal information to the Information Commissioner's Office or the data protection authority in the country where you usually live or work. In certain specific circumstances you also have following further rights: Right of deletion: You have a right to ask us to delete any personal information which we are holding about you. Right to restrict use of your information: You have a right to ask us to restrict the way that we process your personal information. Right to data portability: You have a right to ask us to provide your personal information to a third party provider of services. Right to object. You have a right to ask us to consider any valid objections which you have to our use of your personal information where we process your personal information on the basis of our or another person's legitimate interest. Right to stop marketing: You have a right to ask us to stop using your personal information for direct-marketing purposes.
We will consider all such requests and provide our response within a reasonable period (and in any event within one month of your request, unless we tell you we are entitled to a longer period required by applicable law).
Please note, however, that certain personal information may be exempt from such requests in certain circumstances, for example if we need to keep using the information to comply with our own legal obligations or to establish, exercise or defend legal claims.
If an exception applies, we will tell you this when responding to your request. We may request you provide us with information necessary to confirm your identity before responding to any request you make.
Please contact us at using the details below if you would like further information or if you would like to exercise any of your rights you can contact us using the details below.
USING OUR WEBSITE.
This Policy applies when you use our website and its content.
If you visit our website you acknowledge that the practices described in this Policy apply. Our sites can, from time to time, contain links to and from the websites of our partner networks, advertisers and affiliates. If you follow a link to any of these websites, please remember that they have their own policies and that we do not accept any responsibility or liability for their policies or how they collect and use your information.
Our websites let you share via third party social media applications, such as Facebook and Twitter. These social media apps can collect and use information about how you use our site. Social media companies can collect and use any personal information that you provide via social media apps according to their own privacy policies, and you should read these carefully before you submit any personal information to our website. We don't have control over, or responsibility for, those companies or how they use your information.
CHILDREN.
We do not and will not knowingly collect information from any unsupervised child under the age of 13. If you are under the age of 13, you may not use our sites unless your parent or guardian has provided us with their consent for your use of our sites or our site (as applicable).
Cookies.
When you access our website or content, we or companies we work with may place small data files called cookies on your computer or other device. We use these technologies to: Recognize you as an account holder; Customize our website, content, and advertising; Measure promotional effectiveness; and Collect information about your computer or other access device to mitigate risk, help prevent fraud, and promote trust and safety.
We use both session and persistent cookies when you access our website or content. Session cookies expire and no longer have any effect when you log out of your account or close your browser. Persistent cookies remain on your browser until you erase them or they expire.
We also use local shared objects, commonly referred to as "Flash cookies," to help ensure that your account security is not compromised, to spot irregularities in behaviour to help prevent fraud, and to support our sites and services.
We encode our cookies so that only we can interpret the information stored in them. You are free to decline our cookies if your browser or browser add-on permits, but doing so may interfere with your use of the website. The help section of most browsers or browser add-ons provides instructions on blocking, deleting, or disabling cookies.
UPDATING THIS PRIVACY POLICY.
We will update or amend this Policy from time to time, to comply with law or to meet our changing business requirements. You can see when our most recent update to this Privacy Policy was by checking the "Last updated" note at the top of this Privacy Policy. If we need to make substantial changes to this Policy, we will notify you, if we hold your contact details, by post or by email, before we make any changes unless we are required to make the change sooner (for example regulatory reasons).
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware ASICs.
Hobby Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can still be fun and even profitable if you have cheap electricity and get the best and most efficient Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is competitive. It's not ideal for the average person to mine since China's cheap electricity has allowed it to dominate the mining market. If you want bitcoins then you are better off buying bitcoins.
What is an ASIC Bitcoin Miner?
Since it's now impossible to profitably mine Bitcoin with your computer, you'll need specialized hardware called ASICs.
Here's what an ASIC miner looks like up close:
The Dragonmint 16T miner.
Originally, Bitcoin's creator intended for Bitcoin to be mined on CPUs (your laptop or desktop computer). However, Bitcoin miners discovered they could get more hashing power from graphic cards. Graphic cards were then surpassed by ASICs (Application Specific Integrated Circuits).
Think of a Bitcoin ASIC as specialized Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) computers, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machines, or "bitcoin generators".
Nowadays all serious Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is performed on dedicated Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity.
Don't Get Confused.
There is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, which mines bitcoins.
There are also Bitcoin hardware wallets like the Ledger Nano X, which secure bitcoins.
Check Profitability.
You can use our calculator below to check the mining hardware above. Input your expected electricity price and the hash rate of the miner for an estimate.
Profitability Factors.
The Bitcoin price and the total network hash rate are the two main factors that will affect your profitability.
Our calculator is more accurate than most others because ours assumes the 0.4527678% daily increase in network hash rate. This has been the average daily increase over the past 6 months.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:57 am

Is Cloud Mining a SCAM?!?!|12:43
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 08:58 am
Most other calculators do NOT include this metric which makes mining appear way more profitable than it actually is.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a booming industry, but the Bitcoin price increasing can help make up some of these losses.
The Bitcoin price is increasing at an average of 0.3403% per day over the past year. Try messing with the calculator using different prices.
Know your Competition.
It may seem easy to just spin up a miner.
But you NEED to take a look at just how serious mining is.
The video below offers an inside look at one of China's largest mines.
How to Find the Best Bitcoin Miner.
There are some important factors to look at when determining which Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ASIC to buy:
Hash rate - How many hashes per second can the Bitcoin miner make? More hashes cost more, which is why efficiency is crucial.
Efficiency - You'll want to buy the most efficient Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware possible. Right now, this is the Halong Mining Dragonmint T1. Since miners use a large amount of electricity, you want to buy one that converts the most amount of electricity into bitcoins.
Price - How much does the bitcoin miner cost? Cheap mining hardware will mine less bitcoins, which is why efficiency and electricity usage are important. The fastest and more efficient mining hardware is going to cost more.
Don't try to buy a miner based on only price or only hash rate. The best ASIC miner is the most efficient bitcoin miner. Aim for value.
Bitcoin Miners for Sale on eBay or Amazon.
If you're a hobby miner who wants to buy a couple rigs for your house, eBay and Amazon both have some decent deals on mining hardware.
Used Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware for Sale.
Both new and used Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs and ASICs are available on eBay. One may want to buy used ASIC mining hardware on eBay because you can get better prices.
eBay's customer protection ensures you'll get a working product. Other bundled equipment may be included with your purchase depending on the seller.
We recommend purchasing the Dragonmint or the Antminer S9.
Hardware Profitability.
You can use a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability calculator to determine your estimated cost of return on your mining hardware.
Be sure to take electricity costs into account. Most mining hardware appears profitable until electricity costs are accounted for.
The best way to determine actual profitability is to figure out your electricity cost per hash . That is really what will make or break your operation.
Most Efficient Bitcoin Miners.
Good Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware needs to have a high hash rate. But, efficiency is just as important.
An efficient Bitcoin miner means that you pay less in electricity costs per hash.
To improve your efficiency, there are also companies that will let you order hardware to their warehouse and run the miners for you.
You could also cloud mine bitcoins. But both options are a lot less fun than running your hardware!
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Companies.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Comparison What is an ASIC Bitcoin Miner? Don't Get Confused How to Find the Best Bitcoin Miner Bitcoin Miners for Sale on eBay or Amazon Used Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware for Sale Hardware Profitability Most Efficient Bitcoin Miners Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Companies Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Equipment Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Without Hardware? USB Bitcoin Miners Bitmain Antminer S5 Review Bitmain Antminer S7 Review Dragonmint 16T Review.
Halong Mining - Halong Mining is the newest mining hardware company. They have the best miner available. Unfortunately, they already sold out of their first batch but a new batch should be available for sale soon.
Bitmain - Bitmain makes the Antminer line of Bitcoin miners. Bitmain is based in China and also operates a mining pool.
BitFury - BitFury is one of the largest producers of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware and chips. Its hardware is not available for purchase.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Equipment.
In addition to a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ASIC, you'll need some other Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) equipment:
Power Supply - Bitcoin rigs need special power supplies to funnel and use electricity efficiently.
Cooling Fans - Bitcoin hardware can easily overheat and stop working. Buy a sufficient amount of cooling fans to keep your hardware working.
Backup generators - You may want generators as a backup in case your main source of electricity goes down.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Without Hardware?
It's still technically possible to mine bitcoins without dedicated mining hardware.
However, you'll earn less than one penny per month. Mining bitcoins on your computer will do more damage to your computer and won't earn a profit.
So, it's not worth it unless you're just interested to see how the mining process works. You're best bet is to buy dedicated hardware like the Antminer S19.
ASICs' Impact on Cryptocurrency.
Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central authority and gives it to the average person. Sensitive information is stored on the blockchain rather than large data centers, and is cryptographically secured. A vast amount of people, known as miners, all work together to validate the network, instead of just one person or government.
In the beginning, CPUs were used to solve cryptographic hash functions, until miners discovered that GPUs were far better equipped for mining. As block difficulty increased, miners turned primarily to GPUs.
Some GPUs were made solely for mining Bitcoin, as you can see demonstrated in the video below:
Eventually, technology was developed solely for mining, known as ASICs, or Application Specific Integrated Circuits. Their hashrates are significantly higher than anything GPUs are capable of.
With stellar performance comes a high price tag - the best ASIC chips will run you a few thousand dollars each. Upon creation, Bitcoin blocks were confirmed by the average person using their desktop - once ASICs hit the market, things changed.
ASICs rendered GPUs useless. ASIC developers, including Bitmain, granted early access to large mining cartels rather than the average person. Nowadays, a large majority of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) takes place in China where electricity is cheap.
Thousands of ASICs all mine simultaneously in a mining farm (large warehouse). Evidently, most people can't afford just one or two of ASICs, not to mention thousands of them.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:03 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:03 am

CLOUD MINING in 2020! - REVIEWED - Is Cloud Mining Legit or a Scam?|6:45
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:03 am
When ASICs hit the market, the blockchain's validation process became more centralized as more and more hashing power was consolidated into a handful of mining companies, rather than being spread out amongst many miners. Unfortunately, Bitcoin is no longer as decentralized as it was once intended to be.
Bitmain Antminer S7 Review.
High 4.73 TH/s hashrate, and efficient at 0.25 Joule per GH/s Reasonably priced at $440 new (plus shipping) Popular miner with plentiful guides and parts available.
Eclipsed by 16nm miners (AntMiner S9) and forthcoming 14nm miners High power consumption of.
1350 Watts demands high-end PSU Quite noisy at 62dB.
The AntMiner S7: Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Mainstay.
Bitmain's AntMiner S7 has proven so popular since its release in mid-2015 that it's now reached its 19 th batch of production.
The S7 assumed market dominance for good reason:
It offers a high hashrate for the amount of power it consumes.
If you view any modern industrial mining operation, chances are you'll see racks of AntMiner S7s hashing away. The S7 is also a popular choice among hobbyist miners for its reasonable price and strong performance.
The S7 is powered by a 28nm BM1385 ASIC chip. 135 of these chips are spread across 3 boards and kept cool by dual fans (or a single fan in the case of a particular batch).
The strong metal casing features a tongue and groove system which allows for the neat arrangement of multiple miners.
Power Supply.
Recommended for use with the S7 is Bitmain's high quality 1600 Watt APW3 power supply unit, designed specifically for use with Bitcoin miners.
This PSU is highly efficient, losing only 7% of electricity between outlet and miner. The APW3 requires a minimum 205 Volts to function and does not ship with the necessary 16A power cord.
Although not cheap at $140 plus shipping, the APW3 is a good choice in terms of future upgradability as it can also run the power-hungry AntMiner S9.
It's also possible to use any ATX PSU of sufficient Wattage to run the S7.
The S7-LN includes its own PSU; a 1000W Enermax, rated Gold (above 80% efficiency). As the S7-LN only draws about 700W, this PSU has excess capacity even when overclocking the unit above its default 600M frequency.
It also adds quite a lot of weight to the unit, increasing its shipping cost.
While an integral PSU makes for a compact and convenient miner, there are few other reasons to recommend such a setup. The S7-LN also excludes a cord.
Price.
Note: Before you buy an Antminer S7 make sure you already have Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software and a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool.
Shortly after release, the S7 was priced at nearly $2000, a little below the current cost of the S9.
It has since been discounted steeply and is available from Bitmain at $440 (when in stock), plus shipping. It can also be bought new at $545 or second-hand at $500 from Amazon.
Bitmain sells the S7-LN for $291 and Amazon has it going for $439 new or $409 used.
These prices can be expected to fall further as the S9 and other superior mining hardware becomes the new standard. It's also possible to buy modded S7 with upgraded efficiency and diminished noise and heat levels.
Bitcoins / Month (Profitability)
With Difficulty rising and the halving of block rewards imminent, the S7 is reaching the end of its profitability for those without access to cheap power... although if Bitcoin's exchange rate rises sufficiently, the S7's profitability may well be extended beyond expectations.
Using our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator, we'll take a peek at some likely returns for an S7 and S7-LN.
We're assuming an average household Power Cost of 15c per kWh, a Pool Fee of 2.5% (as charged by AntPool) and a post-halving Block Reward of 12.5 BTC per block mined:
For greatly increased accuracy, perform your own custom calculation!
The results aren't great:
$18 will be lost per month and $223 annually.
From this rough calculation (which appears not to factor in the Hardware Costs field), it's clear that nobody who pays a regular price for their electricity will be getting rich off an S7.
With careful tweaking, it may be possible to profit from an S7 even at 15c power. This assumes that Bitcoin's price doesn't fall and Difficulty doesn't jump... risky assumptions indeed!
The same calculations adjusted for the Hash Rate and Power consumption of the S7-LN produces slightly more encouraging results:
Only $6 is lost per month and $77 annually.
Power Consumption.
The S7 draws a minimum of 1293 Watts at a room temperature of 25^C / 77^F. Naturally, the hotter the environment, the more energy the fan(s) will consume to cool the unit.
The S7 is twice as efficient as the S5 at converting all this energy into bitcoins; it requires a modest 0.25 Joules of power per Gigahash.
As mentioned, the LN ("Lite") version draws only 700W. It likewise consumes 0.25 J/GH.
Setup.
Both S7's have DHCP capability, meaning they'll automatically seek out an IP address to use.
Setting them up via the MinerLink GUI is a simple process, requiring only your mining pool credentials to begin mining.
The units will automatically begin hashing upon powering up, which can be helpful in the event of power failure. S7 connectivity is via Ethernet only.
Temperature.
Both S7 versions will operate well below an ambient temperature of 40^C / 77^C. They are both cooled by dual 12038 fans.
Keeping the room in which they're placed cool and dry will extend the life of these miners. A dry basement is an ideal location.
Verdict: Is the S7 Right for You?
If you hope to make profit but can't wait for the S9 (or other forthcoming miners from different companies) to become affordable, the S7 is likely your best option.
With access to inexpensive power and perhaps some intelligent tweaking, it's possible that the S7 will pay for itself and become profitable.
The S7-LN is slightly more efficient and certainly better suited to the home miner who can't tolerate a lot of fan noise or cable clutter.
Antminer S9 Review.
AntMiner S9: Game Changer for Hobbyist Miners?
Difficulty has nearly tripled since then, climbing from 520,569,941GH/s to the current record high of 1,426,731,353 GH/s.
This peak was reached on May 24 th 2016. Such tremendous growth has been spurred by major investment into Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) technology and operations.
While such growth is impressive, making Bitcoin the world's most powerful computing network by far, one unintended consequence of such rapid growth has been increased centralisation.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:04 am
Profits have accumulated where mining is most profitable (China), with the result that several competing operations (eg. KNC) have been forced out of the industry.
We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. Either they don't know what they are doing, but that is not very likely at this scale or they have some secret advantage that we don't know about. - Sam Cole, KNC CEO.
The same Chinese competitive advantage has been doubly effective at squeezing the profit-dependent hobbyist miner from the market.
At this stage, most home or office miners aren't hashing to earn money but rather to support the network, aid decentralisation and possibly even to heat space.
With the block reward halving looming, the profitability of all but the most efficient operations will likely be challenged.
Given that profits derived from the current generation of mining hardware are dwindling and will likely reach negative returns post-halving:
Can the new S9 change the game for smaller and hobby miners and restore their lost profitability?
Note: Before you buy an Antminer S9 make sure you already have Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software and a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool.
The first batch of S9s will be available for order directly from Bitmain from the 12 th of June.
At $2100 on Amazon, the S9 is far from cheap. However, the lower your electricity costs, the better your odds of the miner paying for itself within a reasonable timeframe.
Naturally, much depends on the Difficulty and Bitcoin price.
As smaller manufacturing processes become standard across the industry and as other manufacturers release competing hardware, the S9's price can be expected to fall appreciably over the coming months.
Bi Wang launched its 14nm chips in the winter of 2016 and BitFury's own 16nm architecture hardware, promising fantastic power efficiency at 0.06 J/GH, also came around that time.
Judging value in this space is a complicated exercise, although it would appear that nothing vastly technologically-superior to the S9 is likely to be released in the near future.
The release cycle of a new generation of mining hardware every few months is likely to decelerate from this point on, as manufacturers have transitioned to cutting-edge 16 and 14nm designs.
S9 Compared to Other Hardware.
The S9's 16 Nanometer Technological Advantage.
The on-going miniaturisation of semiconductors allows ever greater computing power and electrical efficiency, but the process cannot continue forever with the current technology.
Many have remarked that Moore's law no longer holds true, as the rate of computing speed advancement has slowed as it reaches the physical limitations of silicon semiconductor technology.
The 16 nm fabrication process used in the manufacture of the S9 is a major improvement upon the 28 nm design common to other modern mining devices.
Although a 10nm process is on the horizon for 2017, further increases beyond that remain theoretical.
Further, the design and manufacture of any 10nm Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware is likely to take at least a year.
Get a Wallet.
You can't mine bitcoins with an Antminer S9 without a wallet.
Our guide on the best bitcoin wallets will help you get one fast and for free. Read it here!
The good news is that existing power supplies, at least those of sufficient wattage, are fully compatible with the S9.
Recommended for use with the S9 are:
The AntMiner APW-12 1600 Watt Bitcoin Miner PSU, which retails for just under $200 on Amazon, and The EVGA SuperNOVA 1300 Watt GPU PSU, which sells for about $170 on Amazon. Note that the 1600 Watt EVGA PSU is significantly more expensive, by about $115, than Ant Miner's equivalently-powered offering.
The S9 has more hashing power than any previous device crammed into its silicon; a massive 14 TH/s (TeraHash per second).
A total of 189 chips, spread over 3 circuit boards, are combined to achieve this phenomenal hashrate.
Excluding a 15 brief TH/s spike which occurred late 2011, a single S9 unit boasts a hashrate equivalent to the peak capacity of the entire Bitcoin network from its bootstrapping until mid-2012!
Let's calculate the projected profits from all that hashpower via our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator :
Note that Power Cost will be specific to your location and that Difficulty changes every 2 weeks, usually to the upside...
Although keep in mind that post-halving, it's entirely possible that a lot of marginal miners will be forced to either upgrade to better hardware or shut down.
Your Pool Fees will be determined by your mining pool; although the S9 is plenty powerful, a single unit is highly unlikely to find any blocks when solo-mining.
Finally, the Bitcoin to Dollar (USD) price is notorious for its constant state of flux.
According to the above inputs, the S9 will produce** 0.285 BTC / $159 per month** and 3.36 BTC / $1939 per year.
These puts Return on Investment (ROI) slightly above one year!
Of course, such impressive results assume all factors stay constant which is hugely improbable in the ever-changing world of Bitcoin!
The cutting-edge manufacturing process is what makes the S9 the most electrically-efficient mining device to date.
It uses a mere 0.1 Joules per Gigahash, making it roughly 2.5 times more efficient than the Antminer S7.
The total power consumption of the device works out to around 1350 watts, although this figure is subject to about 7% of variance. The S9 consumes about 300W more than the S7.
Apart from the power supply, the S9 is a self-contained unit. It requires no connection to another computer to interface with other Bitcoin nodes.
Its onboard web management portal allows for a simplified setup and maintenance process.
The S9 is air-cooled and its sturdy design is fairly easy to maintain and service.
The S9 performs reliably in any well-ventilated space, whether a single or several unit(s) kept in a spare room or hundreds to thousands of units in a large mining center.
Verdict: Does Hobby Mining with an S9 make Business Sense?
Based on the data and results calculated above, yes.
But! as major miners upgrade to S9s and other advanced hardware, the resultant Difficulty increases are likely to erode future profitability.
On the other hand, the halving could bring about a higher Bitcoin price and reduced competition, increasing profitability.
Ultimately, the S9 is a great piece of hardware although currently rather expensive.
It is likely to remain profitable for far longer than previous generations of ASIC miner, although ROI cannot be guaranteed given the inherent unpredictability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Dragonmint 16T Review.
Bitmain is regarded as one of the most influential companies in the ASIC mining industry. It is estimated that they have manufactured approximately 53% of all mining equipment.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:04 am

Best Bitcoin Mining Rigs in 2020 - New 110 TH/s Antminer S19 Pro - BTC Mining Profitability|14:47
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:04 am

What's the Best Bitcoin Miner to buy in 2020?|15:48
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:05 am
Without including their mining profits, that's around $140 million dollars in sales. These figures are staggering, but Bitmain's monopoly of the Bitcoin ASIC market may come to an end, following the release of Halong Mining's DragonMint 16T ASIC.
What Happened to Halong Mining? Can I still buy a DragonMint 16T.
Halong Mining is no longer around. It seems they could not compete with the already established ASIC manufacturers, most likely because they could never fill their orders and get the partsd they needed to produce enough miners to make money. You can still find some DragonMint 16T's used if you look hard enough but they are rare.
Below are some of the specs for the DragonMint 16T if you are interested in looking for one.
The DragonMint 1600W power supply is strongly recommended, though not mandatory. Each miner requires its own individual power supply. They can be purchased directly from Halong Mining's website.
Professional mining hardware runs optimally at 220-240V, hence why mining farms step down their own electricity supply to 220-240V. In any case, it would be a good idea to buy the DragonMint power supply.
Note that 220V current is only found outside of the US - American outlets are 110V by default. Unless you want to hire an electrician, you'll have to buy a power supply rated at 110V such as the Rosewill 1600W 80+ Gold Certified power supply. These PSUs will get the job done, but they are not ideal for optimum mining performance.
Thanks to the DragonMint 16T's new DM8575 generation of ASIC chips, the 16T has become the most electrically-efficient miner on the market.
Consuming merely 0.075J/GH, or 1480W from the wall, the 16T is 30% more electrically-efficient than the Antminer S9. Keep in mind that exact power consumptions vary, especially depending on which power supply you are using.
Hashing Power.
The DragonMint 16T has a hasrate of 16TH/s.
Profitability.
While Halong Mining's ASIC technology was impressive when it was first released, much like the Antminer S9, the DragonMint 16T no longer profitable even if your electricity costs are incredibly cheap (less than $0.02).
Antminer R4 Review.
The Antminer R4 is BitMain's latest and most unique Bitcoin miner yet. We're here to put all of the most important information in one place in this review.
Hash Rate.
The Antminer R4 hashes at up to 8.6 TH/s, making it the second fastest miner behind the Antminer S9 and just ahead of the Antminer S7.
Efficiency.
The R4's efficiency of 0.098 J/GHs is tied with the S9 as the most efficient Bitcoin miner on the market. Here is a direct quote from Bitmain's website:
Bitmain's BM1387 chip is built using TSMC's 16nm FinFET technology and, delivering a record-breaking 0.098 J/GHs, is the world's most efficient Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) chip in the consumer market.
The R4 is so efficient because it uses the 126 of Bitmain's new BM1387 ASIC Chips, which are 16nm chips. BitFury was the first company to release 16nm chips.
Hash Rate Efficiency Price Ease of Use Bitcoin / month (profitability): R4 Compared to Other Hardware Low Sound Power Supply Special Design Control Board Final Thoughts.
As the saying goes nothing good comes cheap. With all the awesome features that come with the Antminer R4 you would expect its price to be high. One Antminer R4 costs $1,000. Its price is among its cons because this may be too high for the average hobby miner.
Ease of Use.
Once you setup your Antminer R4 you will see that its user interface has been well designed with the users in mind.
It's very easy to use.
All you have to do is enter your wallet address and mining pool settings before you start mining. It is also possible for you to customize settings such as the fan speed or the frequency.
Bitcoin / month (profitability):
Most of the hobby miners reading this article actually want to make money from hashing.
With that in mind let's have an in-depth look at the profitability of Antminer R4:
With a hash rate of 8.6 TH/s, the Antminer R4 is the second most powerful miner, second to the Antminer S9.
It has a power consumption of approximately 845 Watts at the wall using an APW5 PSU power supply.
Rest easy because most homes have an outlet that can handle 845 Watts safely but also expect your electricity bills to rise significantly.
Consider an investment of about $1,000 for the Antminer R4 and about $240 for the APW5 PSU.
The mining profit calculator reports at the then current price of $574 Bitcoin price, it would take you approximately 527 days to return your investment provided your power cost doesn't exceed $0.10 per KwH.
Of course we assume that all factors remain constant which is almost impossible in the ever-changing world of Bitcoin.
This means that the Antminer R4 will eventually produce a profit, but only if the network hash rate, Bitcoin price, and electricity costs stay the same. All of those factors are a big IF, since the network difficulty almost always increases.
So you are definitely taking on risk with this miner, and it may not be worth your time despite the many benefits it provides over other hardware.
R4 Compared to Other Hardware.
Low Sound.
One of the most unique features of Antminer R4 is that it was designed to ensure the least possible sound with the maximum hash rate.
Antminer R4 replaces the traditional fan with a rotary blade system. The traditional fan has been the biggest source of noise for other mining hardware.
The Antminer R4 fan was inspired by the fan of a silent split air conditioner and it reduces the noise of a standard miner by 50% at a noise level of 51 db. Its fan speed is controlled automatically, ensuring that the noise is regulated.
Antminer R4 uses the most advanced Power Supply Unit (PSU) to date. Bitmain recommends the use of an APW5 power supply.
The APW5 works with both 220v and 110v input to deliver 2600 Watts and 1300 Watts respectively. The APW5 retails for about $240.
Special Design Control Board.
The Antminer R4 employs the Xilinx's ZYNQ-7000 family system-on-a-chip that integrates a feature-rich core ARM Cortez - A9 based processing system.
It also uses 28nm Xilinx programmable logic. It supports Gigabit Ethernet to ensure that mined blocks are submitted instantly.
Final Thoughts.
Mining bitcoins at home has almost become an impossible task these days.
Not only are the devices expensive but they also generate a lot of heat and noise, not to mention the amount of electricity they consume.
This makes it uncomfortable and almost impossible to make any profit!
Unlike with the Antminer S9, S7, or Antminer S5, with Antminer R4, Bitmain is targeting the home Bitcoin miner market.
It is a home Bitcoin miner that may actually turn a profit, unlike Bitcoin USB miners.
Some of these problems mentioned above have been addressed and as a miner you can do it as a hobby while also making some money.
This home Bitcoin miner is not only a good fit for hobby miners but also helps to improve the decentralization of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) as a whole.
The more distributed the hash power, the stronger the Bitcoin network!
7 of the Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware for 2020.
Despite the profit potential of mining Bitcoin, your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware's upfront and energy costs can actually do harm to your bank account.
Picking the wrong hardware could cost you more money to operate than the amount of funds you earn mining Bitcoin with it.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:05 am

What Do YOU Need to MINE ONE BITCOIN In 2020?! UPDATED!|12:44
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:06 am
7 of the Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware of 2018.
1. Bitmain Antminer S9i.
Since it's considered the most popular Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware in the world, the Antminer S9 is entirely sold out on Bitmain's website. Fortunately, though, Bitmain released the Antminer S9i for only $499 this May. The S9i boasts a hash rate of 14 TH per second and an energy consumption of 1,320 watts, which makes it one of the most efficient Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware out there.
If you're an intermediate or expert miner trying to make a profit, the low upfront cost and high efficiency of the Antminer S9i could offset its somewhat lofty energy costs and help you make some money.
2. Halong Mining DragonMint T1.
Out of all the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware on the market, the DragonMint T1 has the highest hash rate of 16 TH per second. And with an energy consumption of 1480 Watts, which translates to a 0.075 Joules per Gigahash ratio, it's the most powerful and efficient Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware out there.
Naturally, there's a lot of demand for the DragonMint T1, so you'll have to pay a hefty price of $2,729 to buy it. But if you're an expert miner with low electricity costs, the power and efficiency of the DragonMint T1 could offset its high upfront cost and help you turn a profit.
3. Bitmain Antminer T9.
With a hash rate of 12.5 TH per second and energy consumption of 1,576 Watts, the Antminer T9 is less powerful and efficient than the Antminer S9i, but it's considered the more reliable option. It has higher quality chips compared to the S9i, so it's more stable and doesn't burn out as fast.
You should expect to pay around $500 for an Antminer T9. If you're an expert miner who wants a durable mining hardware, this is a good option.
4. Pangolin Whatsminer M3X.
Even though it uses the most power out of all the hardware on this list, requiring 2,050 watts of energy, the Whatsminer M3X is also one of the most powerful, possessing a hash rate of 12.5 TH per second.
The M3X is also more affordable than other powerhouse hardware, costing $1,022, which can offset its high energy costs and help you earn a profit. If you're an expert bitcoin miner with below average electricity costs, this could be the best hardware for you.
5. Bitmain Antminer R4.
Bitmain's Antminer R4 falls right behind the Antminer S9i in terms of efficiency, with a hash rate of 8.7 TH per second and a small energy consumption of 845 watts. Another one of the R4's best features is that it runs almost silently, making it the ideal hardware for mining bitcoins at home.
The R4's convenience and efficiency comes at a cost, though -- you'll need to spend $2,999 to buy it on Amazon. If you're a hobbyist or intermediate miner trying to make money at home, consider using the Antminer R4.
6. Avalon6.
Listed at $300 on Amazon, the Avalon6 is one of the most affordable Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, and it's the easiest to set up. But it also has low efficiency, possessing a hash rate of 3.5 TH per second and a relatively high energy consumption of 1050 watts.
Unless your electricity costs are extremely cheap, using the Avalon6 to mine more Bitcoin than it costs to operate is nearly impossible. The Avalon6 is best for beginners or hobbyists, since you'll most likely never make a profit using the hardware.
7. Bitmain Antminer S7.
Another solid Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware for beginners or hobbyists is the Bitmain Antminer S7. Its low $200 cost matches its low efficiency -- it has a hash rate of 4.73 TH per second and energy consumption of 1293 watts. But if Bitcoin's price shoots up and you can find extremely cheap electricity, it's possible to make a profit using the hardware.
Originally published Aug 30, 2018 7:00:00 AM, updated December 16 2019.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:06 am

Crypto Mining Farm at Apartment - January 2020 Update|10:07
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:07 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software.
Now that you already know about the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, we're going to talk about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware handles the actual Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) process, but:
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is equally as important.
If you are a solo miner: the mining software connects your Bitcoin miner to the blockchain. If you mine with a pool: the software will connect you to your mining pool. If you are cloud mining: you do not need mining software.
Buying bitcoin is the fastest way.
Why Do You Need a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Operating System?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs and systems have come a long way since the beginning. The first Bitcoin miners made do with the tools they had at their disposal and set up various software to control the mining hardware in their rigs.
While these make-shift solutions were better than nothing, they didn't exactly work efficiently. Not only did that slow down the mining process, but it also made it difficult for newcomers to join in on the fun.
Necessity is the mother of all invention, so along came solutions like Awesome Miner, ethOS, and SimpleMining that streamlined the mining process.
These days, mining operating systems are the standard.
But many users of the existing systems still experience issues with:
Managing multiple mining devices. Maintaining a steady mining performance. Fixing spontaneous errors. Managing the mining system remotely. Maximizing the efficiency of their hardware. Difficulty Adjustments.
Importance of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software.
The main job of the software is to deliver the mining hardware's work to the rest of the Bitcoin network and to receive the completed work from other miners on the network.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software monitors this input and output of your miner while also displaying statistics such as the speed of your miner, hashrate, fan speed and the temperature.
You may also need Bitcoin tax software in order to calculate your taxes owed.
Sorry, your browser doesn't support embedded videos.
Bitcoin Wallets.
One of the most important things you will need before using any kind of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is a wallet.
This is because all Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software will ask you for a Bitcoin address that will be used to send your mining rewards and payouts. Once you create or download a wallet you will be able to get a Bitcoin address from your wallet.
There are many Bitcoin wallets, but these are the ones we recommend if you are just starting out:
Ledger Nano X - Secure Bitcoin hardware wallet for all platforms. iOS Wallets - The most popular Bitcoin wallets for iOS. Android Wallets - The most popular Bitcoin wallets on Android. Desktop Wallets - The most popular Bitcoin wallets for desktop.
Now that we understand mining software and how it helps in the mining process, and you have your Bitcoin wallet and address, let's look at different software on different operating systems.
Mining Software Overviews.
Find the Right Software for You.
So which software should you choose?
Let's go over all the most important info for each mining software.
By the end, you should be able to pick the best one for you.
Braiins OS+ Overview.
Best Mining Software For Windows.
Braiins OS is part of Satoshi Labs and is the creation of the original inventor of mining pools, Marek "Slush" Palatinus. You may also know Marek for his invention of the Trezor, the world's first hardware wallet.
Unlike many other mining software and operating systems, Braiins is completely free. Satoshi Labs makes money off of Braiins OS by offering you incentives to join their Slush mining pool, although this is not required to use their software.
Supported Hardware.
Braains OS+ currently supports Antminer S9, S9i and S9j. Support for Antminer S17 and T17 are coming soon. Thankfully, Braiins OS+ makes the S9 family so much more efficient, that it can extend the life of your S9 ASICs. It achieves this life increase through better minign efficiency, which we will cover next.
Performance.
With Braiins OS, you can increase the hashrate of your S9 up to 17+ Terrahashes per second.
Braiins OS+ can also take an S9 on low power mode and deliver 20% better performance than even an S9i.
For aging hardware like the S9 family, this is a crazy performance boost, so we can't wait to see what Braiin's will be able to do once they launch support for next gen Antminers like the S17 and T17.
While there is no up front cost to buying the software, you will need to pay Slushpool dev fees by directing 2% of your hashing power to their pool regardless of which pool you end up mining on. However, if you choose to mine with slushpool for all 100% of your hashing power, that rate drops to 1%.
This is how Satoshi Labs makes money off of Braiins OS.
Features.
Braiins OS boasts many features, such as:
Unlocked SSH Autkmatic Updates to the OS firmware Device installation on all your devices at once Super Fast boot up speeds Pre-heating to get mining faster Complete fan control.
Command Line.
For the more traditional, tech-savvy users, Braiins offers a simple but robust command line interface for their mining software in addition to the more common graphical user interface that most people are used to. Both have their advantages, but many are more comfortable issuing commands with a keyboard instead of mouse clicks.
Two-Factor Authentication.
According to Slushpool,
Every important change made to a user account requires email verification. We furthermore recommend enabling two-factor authentication using either TOTP mobile app or a hardware token (U2F). For even better protection, there is a possibility to lock your payout address so it can be only changed in future by a signed message from said address.
Slushpool takes the security of your earnings very seriously, which means a robust set of two-factor authentication options are at your disposal.
Technical Support.
Braiin's OS comes with some of the best documentation of all the mining software. If that doesn't answer you questions you can reach out to Braiins for help or join their telegram.
Implementation of Stratum V2.
Braiins OS+ has also implemented its Stratum V2 communication protocol. This protocol offers truly advanced features for power miners such as bandwidth load reductions, hash rate variance control, and hash rate hijacking protection.
It also comes with a nifty Proxy so that you can still use Stratum on other pools even if it isn't supported by them.
Should You Use Braiins OS?
There is no one more experienced in mining software than Satoshi Labs, so you really can't go wrong. These guys are constantly innovating, so even if you are running Linux, you won't be disappointed in choosing Braiins.
That being said, if you don't plan on mining with Slushpool, be aware that you will essentially pay a 2% fee to Slushpool (in the form of redirecting 2% of your hashing power to them). By mining with Slushpool, that cuts in half and becomes very attractive.
For more info on mining pools and how to pick one, see our compplete guide on mining pools.
Hashr8 Overview.
Best Mining Software for Linux.
Every system has its flaws, and the best solutions to how to fix those flaws often come from the users of the system. Enter Hashr8, a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operating system developed by miners for miners.
As you'd expect, Hashr8 has fixed many of the flaws we covered in the introduction. But the developers have also added some additional bells and whistles to their OS.
What Hashr8 Can Do Now.
To combat the inefficiencies of other mining systems, Hashr8 constantly monitors the performance of your rig and automatically restarts it when there's an error. It also comes with a handy mobile app that notifies you of any changes and allows you to control your mining system remotely when you're on the go.
What Hashr8 Can Do Soon.
On the horizon, the team behind Hashr8 plan to add automated mining based on which cryptocurrencies are currently the most profitable to mine. Users will also be able to optimize the settings of their rig, adjust their power consumption, manage an entire mining farm from the app, and download performance reports for each individual mining rig.
In other words, there's a lot to be excited about!
What Are the Benefits of Hashr8?
Now that you have a basic overview of Hashr8, it's time to look at some of the specific benefits of using this mining operating system over the alternatives on the market.
Remote Management.
The app (which is available for both iOS and Android devices) that comes with Hashr8 allows you to control multiple mining rigs from your phone.
First of all, it'll notify you the moment there's a low hash rate, or when any parts overheat or malfunction. But the app also allows you to control which cryptocurrency is being mined, which wallet you're using, and what your numbers look like. Finally, you also have the option to overclock your mining rigs.
Easy Installation.
Another advancement the team behind Hashr8 has made is on the installation front.
Newbies no longer have to dread a complicated installation process. This one's plug and play. Simply go to the Hashr8 website, download the disk image, and connect it to your rig via a flash drive.
It'll automatically configure the installation based on the hardware in your rig. You also have the option to add overclocking and firmware with the configuration presets that are included.
Incredible Support.
Since Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is such a rapidly evolving space, any service providers have to adapt their systems to serve their customers.
Hashr8 already supports over 650 different miners and mining pools, so chances are the one you're using is covered. Your mining rig itself is likely also supported, as Hashr8 is compatible with most CPUs, GPUs, and ASICS and covers mining for multiple kinds of coins.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:07 am

How to Build a Crypto Mining Rig|8:32
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:08 am
How Much Does Hashr8 Cost?
As mentioned, you can choose between three different packages when you sign up for Hashr8.
Here are your three options:
Home Miner is free and allows you to run three mining devices at the same time. Pro Miner costs $2 per month for every mining device after the first three. Corporate Miner gives you a dedicated account manager, additional configuration and integration options, as well as a discount when you use more than 300 mining devices.
Each option comes with 24/7 customer service and support if you need help with Hashr8.
How to Install Hashr8 in 8 Steps.
Decided whether or not you want to try out Hashr8? Then it's time to look at how to install it. Fortunately, it's as easy as eight simple steps.
Here's how to install Hashr8:
Go to the Hashr8 website and click "Login" in the top right corner and then "Register" to create an account. Log in to your new account and click "Download" on the left-hand side of the dashboard to download the installation file. Transfer the installation file to a flash drive or external hard drive so you can connect it to your mining device. Click "Rigs" on the Hashr8 dashboard menu and then choose "Add Rig" to add your mining device. Fill in all the required details, such as name, description, password, and the number of GPUs, then click "Save." Click the name of your rig once it has been set up, then click "System Info" and copy the information under the "Rig Token" section. Open the installation file on your flash drive or external hard disk and paste the information you just copied to into the document named "token.txt" and save. Plug your flash drive or external hard disk into your mining rig, turn it on, and wait until it's registered as online on your Hashr8 dashboard.
That's it, you're not ready to mine!
Using mining software is not the fastest way to get bitcoins.
Try an exchange below for the fastest way to get bitcoins.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software Reviewed.
By: Ofir Beigel | Last updated: 8/23/20.
If you're thinking of getting into Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), one of the things you're going to need is a software to run your mining hardware. In this post I'll review the top Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software available on the market.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software Summary.
Whether you're joining a mining pool or mining solo, you will need to get familiar with the most up-to-date mining software. The different software options out there vary by the miner types they support (GPU/ASIC/FPGA), supported platforms (Windows, Linux, etc.) and more.
Whatever your choice may be, remember you need to follow certain steps to successfully mine Bitcoins:
Get the right Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware (for mining Bitcoin only ASIC miners will do). Get the best software that matches your needs. Decide whether you're joining a pool or going solo. Start mining!
Here are the best programs for mining Bitcoin:
That's what you need to know about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software in a nutshell. For a more detailed review of the software mentioned keep on reading. Here's what I'll cover:
1. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) overview.
If you are reading this it means you are familiar with the fundamentals of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and have the necessary hardware for mining. If not, before moving forward I suggest you go back and read our guide on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). And if you don't like reading, here's our video on the topic:
Mining software is an essential part of your mining operation. It provides you with an interface to monitor and manage your miner's settings (clocking speed, fan speed, etc.).
More importantly, it allows you to put your miner to work and start making money by connecting to a pool, or to the Bitcoin network if you are mining solo (not recommended).
There are several things you need to look out for when choosing your mining software.
For one, are you going to mine other coins than Bitcoin? Nowadays, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can only be done by ASIC miners, so whatever software you choose it has to support ASICs. However, if you have other miners on your rig and you wish to manage all of them through the same interface, you'll need the proper software to support it.
Another important thing is the platform you're using to manage your miners; Whether it's Windows, Mac OS or Linux - you'll need to choose the right software. So, without further ado, let's review the best mining software available out there.
Free Bitcoin Crash Course.
Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.
2. How to Start Mining Instantly.
If you're not looking to mine Bitcoin specifically you can use a program like HoneyMiner that mines the coin that is most profitable for you to mine based on your computer's specification.
While you may be mining some obscure coin, you'll still be getting paid in Bitcoin, so this could be a good way to start mining instantly. However, if you want to become a professional miner you'll have to use dedicated mining equipment and more advanced software.
According to HoneyMiner's site you can make anywhere between $15-$75 a month assuming you have at least one graphics card. Keep in mind this does not include the electricity cost for running HoneyMiner.
3. Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software.
CGminer.
Pros : Supports GPU/FPGA/ASIC mining, Popular (frequently updated)
Cons : Textual interface.
Platforms: Windows, Mac, Linux.
Going strong for many years, CGminer is still one of the most popular GPU/FPGA/ASIC mining software available. CGminer is a command line application written in C. It's also cross platform, meaning you can use it with Windows, Linux and Mac OS.
The software includes overclocking, monitoring, fan speed control and remote interface capabilities, among others. With ASIC, FGPA & GPU and multi pool support, CGminer is more than an adequate solution to handle your mining operation.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:20 am

Upgrading the Mining Rig - Asus B250 Mining Expert|9:20
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:20 am
BFGminer.
Pros : Powerful miner with many features, Cross platform, including Raspberry Pi.
Cons : GPUs not supported, Suitable for more advanced users.
Unlike CGminer, BFGminer is designed specifically for FPGA and ASICs and doesn't support GPU mining. More oriented towards the tweaking audience, it features dynamic clocking, monitoring and remote interface capabilities.
Besides being a super versatile program, BFGminer is also cross platform, including an option to install on Raspberry Pi which is pretty neat. Though text based, the interface is very straightforward and you can use hotkeys to go through the different options it offers.
Lastly, BFGminer has a watchdog thread to detect idle threads and restart them or stop failed reconnects to spare your resources. Among the ASICs supported by BitMinter you could find Antminer U1/U2, Block Erupter USB, Red/Blue Fury and more.
EasyMiner.
Pros : Graphic UI, Moneymaker mode for quick start-up.
Cons : Windows installation triggers AV.
Platforms: Windows, Ubunto.
More of a GUI-based version of BFGminer and CGminer than a miner by itself, EasyMiner is a user friendly solution for miners that don't like to work on the popular Command Line Interface-based mining tools. With this tool you can also get graphical visualisation of your statistics and performance which is pretty neat.
Like other mining software, EasyMiner allows you to configure your miners to connect to external mining pools or mine solo. Additionally, the tool includes its own "MoneyMaker" mode which allows you to instantly create a paper LTC wallet and connect to its own private pool.
From several testimonials, it appears that Windows antivirus software products tend to get jumpy along the installation process. Apparently, this is "thanks" to some hackers that used malicious versions of the miners as part of a botnet attack on affected users.
Also, while officially EasyMiner is only available for Windows, you can find an Ubuntu version of the software on this link.
MultiMiner.
Pros : Beginner friendly, Graphic UI.
Cons : Installing on anything other than Windows requires some work.
Known as one of the most beginner friendly mining software out there, BFGminer-based MultiMiner is a graphical, powerful yet simple solution for your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) needs.
Once the installation process is done, the tool detects your installed mining hardware and creates a table with all the required info.
The software allows you to choose which coins you wish to mine per the connected mining device (GPU, ASIC, FGPA). MultiMiner is also packed with additional features such as an option to choose your mining strategy, remote access to your rig and tooltips to get you familiar with the complicated mining terms.
Though very appealing for newcomers, MultiMiner also allows more advanced options for power users such as direct access to API settings and engine arguments.
MultiMiner is cross-platform. For detailed information on the latest releases and instructions on how to install on different OSs, follow this link.
BitMinter.
*July 2020 update: BitMinter has shut its operation down and is no longer active.
Pros : Easy and intuitive UI, The pool's site is informative and approachable.
Cons : Supports only BitMinter's pool, As of writing, the pool shows little activity.
Originally started as an idea to create a user friendly mining software, Bitminter was a fully fledged mining pool. It belongs in this article thanks to its dedicated client which allows you to use its services quickly and easily.
The software's official website is quite complete and straightforward. For the creators of the program, it's all about making Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) "easy" and winning "high payouts".
BitMinter is different because it's a software that belongs to a mining pool, so your initial step is to register and fill in the pool sign-up form. It's a great option if you're looking for a simple installation.
Besides being available for operative systems like Windows, Linux and Mac OS X, BitMinter assures a good mining speed and long polling in order to reduce stale work.
4. Frequently Asked Questions.
What is the Best Miner for Bitcoin?
Currently the best miner on the market for mining Bitcoin is the Antminer S19 Pro by Bitmain. You can read my review of it here.
Is It Worth to Mine Bitcoins?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has become more of a profession than a hobby these days. If you want to mine profitability you'll need to invest heavily in equipment, get cheap electricity, and locate yourself in a cool area since miners tend to heat up very fast.
It's recommended to use a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator to estimate your profitability before investing any capital on buying mining equipment.
Can You Mine Bitcoins on Your Phone?
While technically mining can be done on a mobile phone, in practice it will not yield any results and probably just heat up the phone's CPU.
5. Conclusion.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is an essential component of any mining operation. Whether you're mining solo or as part of a pool, the software is your only way to monitor, configure and connect your hardware to the network.
While it's clear that you have to match the software to the hardware you already have, there are some points you may have overlooked:
Get a bitcoin wallet - The result of successful mining are newly minted Bitcoins. You'll want to have a safe place to keep them in, preferably a hardware wallet Beware of scammy download links! Bitcoin software is a potential way for hackers to steal your money. Download the software from official links only.
That's it! If you've had some personal experience with mining software or think I missed anything, let me know in the comments section below.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:20 am

Asus B250 Mining Expert Bios Configuration|6:09
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:21 am

Asus H370 mining master Hands on with 14 rx 570 GPUS what i learned so far|8:55
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:21 am
9 Best Bitcoin Miner Software.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) still remains one of the best ways to make a profit in the crypto industry, although it is not exactly easy to do it by yourself anymore. With the demand being as great as it is, it is much easier to simply join one of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools and help out, rather than try to win the block for yourself.
But, no matter what you try to do, you need two things in order to do it -- mining hardware and mining software. Today, we are going to talk about BTC mining software , as well as different pieces of software that can serve as the best choice for different systems.
What is a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software?
To start off, let's first cover the basics, such as answering the question of what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software actually is. As you know, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is done by providing your computing power to a mining pool to participate in solving blocks and verifying transactions.
Mining hardware is actually what does the mining, but the mining software is also quite an important aspect, as it can connect you to Bitcoin's blockchain, or to the mining pool. The software's main role is delivering the hardware's work to the Bitcoin network. In addition, it also receives all the work that other miners have done.
The software also monitors all of the input and output that your mining hardware does, and it provides you with useful statistics, which include the temperature of the hardware, fan speed, as well as the mining speed and hashrate information.
The software will also require you to set up your own Bitcoin wallet, where it will send all the BTC that you manage to mine as part of your efforts. You can use any wallet that supports Bitcoin, just keep in mind that not all wallets are compatible with all devices.
Also, the security of the wallet is also a very important thing to consider. For example, if your goal is to earn larger amounts of money from mining, you will also need a more secure wallet to store it. The best wallets, as you likely know, are hardware (cold) wallets. If you are only after small profit, however, the online (hot) wallet should do the trick.
With that out of the way, let's take a look and see what is the best Bitcoin miner app for different devices. After that, you can simply choose which one suits your needs best, and you can start mining coins with the rest of them.
Best Bitcoin Miner Software.
Similarly to wallets, different Bitcoin miners need different software. The best Bitcoin miner app for Android will likely not help you much if you plan to use your PC that runs on Windows 10 system. This is why you need to make sure that you are using the best software for different devices, which is what we will discuss today. So, without any more delay, let's begin.
Bitcoin Miner Software Windows 10.
#1 Bitcoin Miner.
One of the best choices for mining Bitcoin on Windows 10 would be to use Bitcoin Miner. This software has a very easy-to-use interface, which makes it a perfect choice for new miners, who are only getting started. Too many other solutions come with a bit more complex interface that assumes that you already have some experience, so if that is not the case -- this is the miner for you.
It also comes with a number of other features, such as a power-saving mode, which is a great thing to have, considering how expensive BTC mining can be, especially when it comes to electricity use. Then, there is also mining pool support, as well as fast share submission.
Of course, it would be very useful for you to automatically know whether you are making a profit by mining or not, instead of just waiting for a while and having your bills grow, only to receive a minimum amount in return. Bitcoin Miner has got you covered there as well, thanks to its profit reports feature. With it, you will always be able to determine whether your mining is actually earning you a profit. If not, it is time to change your approach.
• Easy to use • Available for free • Only requires a quick registration.
8 of the Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software for 2020.
You've got your Bitcoin wallet, address, and mining hardware. Now, all you have to do is get a free Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software that can help you effectively manage and oversee your hardware's crypto dig.
Like any popular, free product, though, there's a lot of options to choose from. Without testing them all out, how do you separate the Doctor Peppers of mining software from the Doctor Thunders?
Fortunately for you, we scoured the web to find some of the absolute best mining software options for 2018.
8 of the Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software for 2018.
1. CGMiner.
The crypto community generally considers CGMiner to be the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software on the market due to its great versatility. CGMiner is open source and written in C, runs on Mac, Windows, and Linux, and is compatible with three types of mining hardware: GPU, FPGA, and ASIC.
The mining software also has a ton of other benefits, like advanced detection of new blocks, remote interface capabilities, and an ability to scale to a hash rate of any size with zero delay.
2. BFGMiner.
Just like CGMiner, BFGMiner is written in C, so it can run on most operating systems like Mac, Windows, and Linux. The modular software miner is also compatible with mining hardware like FPGA and ASIC.
Some of BFGMiner's best benefits are its ability to simultaneously hash on popular mining algorithms, like Scrypt and SHA256d, and mine multiple cryptocurrencies at the same time. Its other useful features include integrated overclocking, full monitoring, and fan speed control.
3. EasyMiner.
EasyMiner is a GUI-based, open-source frontend software upgrade for mining software like CGMiner and BFGMiner. The upgrade gives you a clean user interface and can integrate with your cryptocurrency wallet. It also allows you to mine various cryptocurrencies like Bitcoin, Litecoin, and others, but only with the Windows operating system and ASIC mining hardware.
When you start mining cryptocurrency with EasyMiner, you can either choose the "Moneymaker" mode, which sets you up with stratum pool to mine Litecoin, or the "Solo" mode, which lets you pick your own type of pool, the cryptocurrency you want to mine, and the custom hash algorithm associated with your chosen cryptocurrency.
4. BitMinter.
Similar to EasyMiner, BitMinter is a GUI-based, open source mining software. But its versatility is what sets it apart from EasyMiner -- you can run it on Windows, Mac, and Linux and it's also compatible with mining hardware like GPU, FPGA, and ASIC.
To mine Bitcoin with BitMinter, you actually need to join its Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool, which has had over 450,000 users register for an account since 2011. BitMinter requires you to join the mining pool before you can use the software because they want to make it easier for their users to mine Bitcoin and win higher payouts.
5. BTCMiner.
BTCMiner is a cloud-based mining software with over 142,315 users. Anyone with a Bitcoin wallet and address, FPGA mining hardware, and an internet connection can mine cryptocurrency on the software.
One of BTCMiner's coolest features is that its dynamic frequency scaling is based on error measurement, so the mining software automatically selects the frequency with the highest hash rate.
BTCMiner also boasts other great features like power save mode, overheating protection, and ready-to-use Bitstream, which lets you run the mining software without Xilinx software or a license.
6. DiabloMiner.
DiabloMiner uses the OpenCL framework to swiftly conduct hashing computations and support unlimited amounts of mining pools for its users.
The mining software is compatible with GPU mining hardware and runs on Mac, but if you have any of the current Nvidia drivers or an ATI Stream SDK 2.1, it'll run on any operating system. You also have the option of either doing solo or pool mining.
7. MultiMiner.
Considered the easiest-to-use mining software with its intuitive graphical UI, MultiMiner is also one of the most versatile. You can run it on Windows, Mac, and Linux, seamlessly switch from one type of mining hardware to another with it, and use it to mine different types of cryptocurrency.
One of MultiMiner's most advanced benefits is its ability to automatically scan and detect your mining hardware's details, like its average hashing power and the pool that it's linked to.
The mining software can also give you the option to automatically mine the most profitable or lowest difficulty cryptocurrency at any given time and even displays your projected profits.
8. Awesome Miner.
Awesome Miner is a robust mining software that can simultaneously handle multiple types of mining hardware, supports more than 25 mining engines, is compatible with every popular mining algorithm, and lets you manage multiple miners' pools at the same time.
The mining software also features a dashboard that displays each of your hardware's temperature and status, which lets you monitor its progress and health. Awesome Miner runs on Windows, but you can access the web version of it on any type of computer and operating system.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:21 am

19 GPUs 500+ MH/s - Asus B250 Mining Expert Motherboard Overview|13:59
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:22 am
The Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software (November 2020)
In brief.
Interest in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has skyrocketed during 2020 as the price of Bitcoin has increased. Bitcoin miners need a Bitcoin wallet, suitable mining hardware, and mining software. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software options vary considerably in their ease-of-use, functionality, and efficiency.
In the last six months, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability has increased by more than 30% as the cryptocurrency's price soared to heights not seen since 2017.
As a result, interest in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has skyrocketed, with the Bitcoin hash rate climbing by more than a third in the last six months.
If you're looking to get involved in the action, then you are going to need three things: a Bitcoin wallet; suitable mining hardware (such as a powerful CPU, GPU, or ASIC); and the mining software that's used to bring everything together.
Fortunately, there is now a huge range of options available for the software used for mining--but they can vary considerably in their ease-of-use, functionality, and efficiency. We'll cover the best of these to help you spot the one that works best for you. These were all tested on a Windows device, but many feature compatibility for multiple operating systems.
Did you know? Cryptocurrency miners can often be flagged as malware by some antiviruses, but this is generally not accurate when downloading from the original source.
Widely billed as the best Bitcoin miner for Windows, CGMiner was one of the first pieces of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software ever released, and is one of the few Bitcoin miners written in C.
It is extremely efficient and uses minimal CPU and RAM, and has heavily threaded code design to maximize multi-threaded CPU architectures. It supports GPU, FPGA, and ASIC mining--with automatic support for many of the most popular Bitcoin ASIC miners, including Bitmain's Antminer.
The miner supports multiple pools and can automatically switch between them, and is designed to support mining operations of any size without performance loss.
Unlike most of the other miners on this list, you'll need to compile CGMiner yourself using the source with MinGW. Detailed instructions are included describing how to do this, but it is a somewhat lengthy process that will take around 20 minutes.
CGMiner is extremely efficient. Image: Decrypt.
Precompiled versions are available, but it's important to check that your download comes from a reputable source to ensure it's not riddled with malware.
Once compiled, you'll be able to run the resulting CGMiner executable, loading its simple command-line interface. Here, you can manage your devices and settings using four simple commands.
As its name suggests, EasyMiner is all about making cryptocurrency mining easy. It is currently only available for Windows devices.
Easyminer is most commonly used for mining Bitcoin and Litecoin, but also supports Bytecoin, Monero, and most other cryptocurrencies that use either the scrypt and SHA256d mining algorithms. It features embedded mining pools, making it simple to choose a pool. But for those with a larger mining network, it also supports solo mining.
The miner features an extremely basic, but clear and easy-to-understand user interface. It also features a built-in chat channel, where users can discuss and troubleshoot issues. It is lightweight and uses minimal CPU and GPU resources, helping to maximize mining yields.
EasyMiner's UI is simple to understand. Image: Decrypt.
Though the miner is easy to navigate, we did find that switching which coin to mine was a less than simple task. By default, the software only supports Litecoin mining. To switch to a different coin, you need to manually input the parameters into the setup screen--or modify and load one of the configuration files supplied by Easyminer.
Ease of use: ★★★★★★★☆☆☆ Functionality: ★★★★★★☆☆☆☆ Pricing: Supported by donations (donationware)
Awesome Miner.
Awesome Miner is a powerful cryptocurrency miner that supports a wide range of coins and algorithms. It is currently only available for Windows and Linux systems, and is available as a pre-compiled executable.
Users can select from a variety of miner types--including managed miners which essentially hand over full control of the mining parameters to Awesome Miner, and managed profit miners, which are similar, but also allows Awesome Miner to automatically switch mining algorithms if a more profitable coin is available.
Awesome Miner supports over 100 different coins. Image: Decrypt.
As of writing, Awesome Miner supports well over 100 different coins--each of which can be easily ordered by potential revenue, algorithm, and other parameters. It also offers incredible flexibility for users, giving users full control over how their miners perform. The interface is understandably busy, given the number of features it offers, but still relatively simple to navigate.
The software is available as a free version which supports up to 2 miners, and there is also a premium version which unlocks cloud services and additional features. Both the free and premium versions support ASIC, GPU, and CPU mining.
Ease of use: ★★★★★★★★☆☆ Functionality: ★★★★★★★★★☆ Pricing: Free/premium versions.
Billed as a modular cryptocurrency miner written in C, BFGMiner is one of the most popular Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) clients. It features dynamic clocking, remote interface capabilities, and is compatible with several operating systems--including 32 and 64 bit Windows, as well as several Linux distros.
It's also available for MacOS, but the installation process is somewhat challenging unless you use a pre-compiled version.
The software features a large variety of device drivers, making it suitable with many SHA256d ASIC miners. It also supports CPU, GPU, FPGA, and ASIC miners, making it suitable for those mining using several algorithms or different hardware types.
BFGMiner is one of the most popular clients. Image: Decrypt.
Like many other pieces of mining software, you will need to have MinGW or a similar program installed to compile your own BFGMiner executable. You will need to install YASM separately if you want to use BFGMiner for CPU mining.
It is controlled using a simple to navigate command-line interface which is used for selecting a server and the mining hardware, and changing basic parameters. There's not much more to it than that--which makes it super lightweight and efficient.
Ease of use: ★★☆☆☆☆☆☆☆☆ Functionality: ★★★☆☆☆☆☆☆ Pricing: Free.
If you like the sound of BFGMiner, but are not keen on controlling it through the command line, then MultiMiner could be a suitable alternative.
This is a desktop miner that uses BFGMiner as the underlying mining engine. MultiMiner uses BGFMiner to detect available mining hardware, and then presents a simple user interface to control these.
If you're a newer miner, MultiMiner features a simple Getting Started wizard that will help you select an engine and coin, and select a pool to mine with. It will also install the latest version of BFGMiner automatically.
MultiMiner supports 20 different mining algorithms. Image: Decrypt.
It features a range of built-in strategies, allowing you to automatically mine different coins based on their profitability, difficulty, or price. It supports a total of 20 different mining algorithms, including scrypt, Ethash, SHA256, Groestl etc, making it suitable for mining a large range of cryptocurrencies--including Bitcoin, Zcash (ZEC), Ethereum, and over a dozen others.
MultiMiner can be remote controlled using an associated application known as MobileMiner. This will allow you to control your mining rigs via MultiMiner using your mobile device.
Overall, its simple user interface, in combination with its wide range of features and customization options makes MultiMiner an excellent choice for those looking to upgrade from BFGMiner.
Ease of use: ★★★★★★★★☆☆ Functionality: ★★★★★★★☆☆☆ Pricing: Supported by donations (donationware)
Cudo Miner.
Cudo Miner is a breath of fresh air as far as Bitcoin miners go. It's refreshingly simple to use and is compatible with a wide array of operating systems, including Windows, MacOS, CudoOS, Linux, and ASIC.
The mining software itself is already pre-compiled, avoiding the headaches that come with some alternatives, and it offers its own mining pool--essentially taking all the difficulties out of setting up a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operation.
Its powerful feature set includes automatic algorithm switching to maximize profitability, and allows users to set the mining intensity or timing. Right now, it can be used to mine four coins: Bitcoin (BTC), Rivex (RVX), Ethereum (ETH), and Monero (XMR).
CudoMiner offers its own mining pool. Image: Decrypt.
The platform is mostly controlled through the Cudo web app, which allows you to set up and manage workers, manage payments, and create and apply custom configurations. It definitely earns its place among the simplest to use Bitcoin miners.
However, this does come with a downside--it's not free to use. Unlike with many other miners, you'll be charged up to 6.5% commission for using Cudo Miner, but this can go to as low as 1.5% for those that mine more than 10 BTC.
Ease of use: ★★★★★★★★★☆ Functionality: ★★★★★★☆☆☆☆ Pricing: Commission-based fees.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:22 am

Asus b250 Mining Expert Unboxing|12:27
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:23 am
Kryptex.
Kryptex takes a somewhat different approach to cryptocurrency mining. Rather than allowing you to choose which cryptocurrency to mine, set up a pool, and keep track of profitability, it instead simply pays you for your computing resources.
Getting started is a matter of downloading the Kryptex program and creating an account. It will then run a short performance test (took us 4 minutes). Once complete, it will start mining and display an estimate of your earnings.
The exact amount you will earn varies over time, and depends on the specifications of your computer or mining hardware. For reference, we tested Kryptex on a rig running an RTX 2070 GPU and an AMD Ryzen 3600 processor--roughly mid-range PC specs--and were quoted.
$49/month in earnings.
This estimation was provided when switching to pro mode (which uses both CPU and GPU for mining). Lite mode only uses the CPU, and hence pays less (in our case.
Kryptex pays you for your computing resources. Image: Decrypt.
Although you are unlikely to make quite as much using Kryptex as if you were to mine solo or use a pool, the simple setup process makes it considerably easier to use than everything else on this list. This could make Kryptex a suitable alternative for those with negligible electricity costs and/or ample hardware.
It also suits a range of payout options not available to most miners--including fiat options like Visa/Mastercard payments, Qiwi, and UnionPay, in addition to regular cryptocurrencies like Bitcoin and Ethereum.
Ease of use: ★★★★★★★★★★ Functionality: ★★★☆☆☆☆☆☆☆ Pricing: Free.
20+ BEST Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software (2020)
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software's are specialized tools which uses your computing power in order to mine cryptocurrency. In exchange of mining operation, you can receive a monetary reward in the form of digital currency. These applications provide a detailed report based on your earnings. Many such tools are automated, and hence there is no need for technical skills.
Following is a handpicked list of Top Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software, with their popular features and website links. The list contains both open source (free) and commercial (paid) software.
BEST Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software.
Name Supported Platform Link Computta Windows Learn More Minergate Windows, Mac, and Linux Learn More Hashflare Windows Learn More kryptex Windows Learn More NiceHash Windows, Mac, and Linux Learn More.
1) Computta.
Computta is a software and services create by cryptography professionals to enable you to make digital money. It offers a simple and intuitive interface.
Features: Setup with just a couple of mouse clicks. Compatible with all computer systems. It is an automated tool, hence there is no need for technical skills. Provides a detailed report based on your earnings. It is a free bitcoin miner software. You can customize the way you like.
2) Minergate.
Minergate is a software that enables you to mine just with CPU or GPU. This platform allows you to trade various coins such as Bitcoin Gold, Litecoin, Ethereum, Zcash, and more.
Features: It offers a user-friendly interface. This cryptocurrency mining software enables you to mine without investing in hardware. It provides good customer support. Users can safely deposit coins in their wallets. It can determine a more profitable coin for you to mine.
3) Hashflare.
HashFlare is a cloud-based mining tool that enables you to trade for Litecoin, Ethereum, bitcoin, and other cryptocurrencies. You do not require any expensive equipment to set up this software.
Features: You can instantly start mining. It enables you to view all mining-related information in real-time. You can easily choose the amount to withdraw and receive quickly. This bitcoin miner software enables you to find the ideal profitable combination. Hashflare helps you to view every single transaction.
4) Kryptex.
Kryptex is an application that helps you to mine cryptocurrency and allows you to pay dollars or bitcoins. This application also works when your PC is idle.
Features: You can setup this software with ease. This cryptocurrency mining software provides a clean GUI. It automatically starts when you turn on the PC. Mine with your CPU and GPU. It is available in English, Spanish, Portuguese and more.
5) NiceHash.
NiceHash is an application that enables you to mine and trade with ease. It allows you to manage all your activities remotely. This app enables you to check mining status with ease.
Features: It provides options to deposit or withdraw cryptocurrency. This altcoin mining software offers instant notification. You can manage your profile with ease. It is intuitive and easy to use. NiceHash offers a profitability calculator.
6) Ethermine.
Ethermine is easy to use the crypto mining software that provides real time statistics. The tool supports anonymous mining. It also supports third-party apps like Telegram.
Features: It has real time PPLNS (Pay Per Last N Shares) payout schemes. Provides accurate mining information. It offers a professional helpdesk. Ethermine supports the full stratum. The software has an efficient mining engine. It provides notification in email. This tool gives warning upon invalid shares.
7) Slush Pool.
Slush Pool is a crypto mining software that allows users to mine ZEC and BTC with ease. It helps you check that your rewards are fair with statistical proof.
Features: You can mine from the mobile phone. Provides 24/7-hour feedback. Slush Pool helps you to minimize losses caused by hardware failure and connection issues. It provides a VIP solution for a large-scale mining operation.
8) BitMinter.
BitMinter is open-source software that makes it easier to min Bitcoin with higher payouts. This application can work with GPUs and ASIC (Application-Specific Integrated Circuit) devices.
Features: Easy to use GUI. Install the application with ease. You can start mining with just one mouse click. It enables you to quickly check progress at any time. Provides updates when a device is connected.
9) Genesis Mining.
Genesis Mining is a tool that offers cryptocurrency mining functionality. This application provides a variety of mining-related solutions to large- and small-scale investors.
Features: It has the fastest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware at data centers. You can easily mine any cryptocurrency mention in the catalog. It provides periodic mining output to your wallet. This altcoin mining software allows you to mine multiple cryptocurrencies, including Ethereum and bitcoin. Offers a user-friendly interface. Easy setup process You do not require much knowledge to get started.
10) Filecoin.
Filecoin is open-source, public cryptography, and a digital payment system that enables you to join without needing any permission.
Features: It has a built-in process where the files of faulty minders are redistributed to a reliable one. This application can check that files are stored correctly over time. You can get a choice of your own tradeoffs between redundancy, cost, and speed. Filecoin is very easy to join.
11) Awesome Miner.
Awesome Miner is easy to use program for managing.
It enables you to quickly monitor the trading of Bitcoin and many other cryptocurrencies.
Features: It helps you to maximize profit and minimize downtime. You can start mining in less time. The tool can display GPU properties like clock speed, fan speed, temperature, etc. Provides support for more than 50 mining software. You can set up mining polls with just one mouse click. It can work with all ASIC devices.
12) Hive OS.
Hive OS is a mining platform that enables you to setup mine and control processes more efficiently. It allows you to Monitor your trading from a single dashboard. The tool provides notification via Telegram and Discord.
Features: Monitor data in real time. Provides statistics on different algorithms and miners. It has integrated VPN settings. You can easily add wallets. Quickly switch between pools and pool servers. It can keep your GPU near to the target temperature. Offers secure remote access via SSH (Secure Shell).
13) Claymore's Dual Miner.
Claymore's Dual Miner is a tool that allows you to earn digital money with ease. This application supports both AMD and nVidia graphic cards.
Features: It offers easy to use user interface. This tool provides stability while mining. It has a timer automatically checks GUPU freezes and restart the software.
14) Cudo Miner.
Cudeo Miner cryptocurrency miner enables you to earn as much money as possible from your PC or laptop. It is easy to install, secure to use, and safe on your hardware.
Features: It offers auto coin switching to maximize profit. Provides setting and control to adjust GPU speed and performing optimization. Supports CPU, GPU, and ASIC mining. It has an advanced hashing algorithm that allows for more customized mining. Security through multi-factor authentication. You can view your stats, earnings, manage users withdraw funds, and more with ease. You can access it from the command line interface.
15) Hashing24.
Hashing24 is a software that enables you to mine cryptocurrency without buying any equipment. The tool provides access to real-world data centers. It can automatically deposit your earned mined coins to the balance.
Features: You can mine cryptocurrency without any hassle. It has data centers in many countries, including Norway, Canada, Georgia, and Iceland. The newest ASIC chips. Offers intuitive interface. It uses the latest air and cooling technology.
16) Mining Pool Hub.
Mining Pool Hub is a trading system that enables you to set the coin you want get with ease. It allows you to start mining in less time.
Features: You can mine with various different coins. It enables you to mine just with CPU or GPU. This application provides a profit switching facility for ASIC and GPU. Mining Pool Hub offers a user-friendly interface.
17) EasyMiner.
EasyMiner is a graphical open-source tool for mining Bitcoin, Litecoin, or other cryptocurrencies. It offers a clean and easy to use interface. This tool is designed to simplify the curve of learning mining.
Features: It has a chat system which helps you to connect to beginners to experienced users. Supports crypto coins line Litecoin and bitcoin. It offers moneymaker mode that allows you to quickly start mining without learning new stuff. UI provides ASIC mining for Bitcoins. This free Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software enables you to choose your own pool with a custom hash algorithm.
18) MultiMiner.
MultiMiner is software for crypto mining and monitoring. It is simplified switching individual devices between bitcoin and Litecoin.
Features: It offers Wizard to get started. Provides intuitive interface. Supports automatic updates. This free Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software gives you a notification alert when it is profitable to consider mining. Services are easily integrated online. You can monitor, configure, and control any MultiMiner rig on a network.
19) BTCminer.
BTCminer is a software that enables you to min bitcoin effortlessly. It automatically chooses the frequency having the highest hash rate.
Features: Offers ready to use Bitstream. It can monitor the temperature and overheat the shutdown of the PC. One instant software can control many FPGA (Field Programmable Gate Arrays) boards. It goes to power save mode after 5 min inactivity. This application has a feature of dynamic frequency scaling.
20) Bitmine Farm.
Bitmine Farm is a hardware-based mining pool. This software helps you to check mining status with ease. You can use it to maximize profit and minimize downtime.
Features: It has easy setup. It enables you to make digital money without any hassle. Mine with your CPU and GPU. This application provides a clean GUI.
21) Hostero.
Hostero is a platform that helps miners to mine cryptocurrencies. You can install this software without any effort. It enables you to manage and monitor the performance of minder from the dashboard.
Features: It enables you to mine currencies securely. You can easily view the logs of a miner. The tool allows you to mine more than 10 cryptocurrencies. You can mine from any number of a user device.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:23 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:34 am
❓ How Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) works?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a process in which the latest bitcoins are entered into circulation. By using mining, you can earn money without investing. You require either an application-specific integrated circuit (ASIC) or GPU to set up a mining rig.
⚡ How to mine bitcoin at home?
Yes, you can technically mine bitcoin at home. Considering the complexity of mining bitcoin, it is very crucial that you invest in the right type of hardware. If you are mining bitcoin at home, you need to consider hardware electricity consumption. The success rate will be very less. Because nowadays cryptocurrency is so popular that even a kindergarten kid is mining bitcoins. You need a dedicated mining hardware to see any reasonable success.
✔️ What is Hash Rate?
Hash Rate is a unit that measures the processing power of the Bitcoin network. When your network reaches a hash rate of 5 Th/s, it could make 5 trillion calculations per second.
❓ Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitable?
Yes, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can still be profitable for some individuals.
⚡ What is a mining pool?
Mining pool is a group of cryptography miners who combine computational resources over a network.
Ease of use: ★★★☆☆☆☆☆☆☆ Functionality: ★★★★☆☆☆☆☆☆ Pricing: Free.
Now that you have Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, your next step is to join a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool.
What is a Mining Pool?
Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power.
While mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pool's owner.
Miners can, however, choose to redirect their hashing power to a different mining pool at anytime.
Pool Concentration in China.
Before we get into the best mining pools to join, it's important to note that most mining pools are in China. Many only have Chinese websites and support. Mining centralization in China is one of Bitcoin's biggest issues at the moment.
There are about 20 major mining pools. Broken down by the percent of hash power controlled by a pool, and the location of that pool's company, we estimate that Chinese pools control.
81% of the network hash rate:
Before joining a mining pool:
You'll need a bitcoin wallet. Why?
This is because all Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools will ask you for a Bitcoin address that will be used to send your mining rewards and payouts.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:35 am
Our guide on the best bitcoin wallets will help you get a wallet. Read the full guide.
The Biggest Mining Pools.
The list below details the biggest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools:
We strongly recommend new miners to join Poolin or Slush Pool.
1. Poolin.
Poolin is a public pool which mines about 13% of all blocks. They are based in China, but have a website fully available in English.
2. F2pool.
F2Pool is based in China. It mines about 19% of all blocks.
3. BTC.com.
BTC.com is a public mining pool that can be joined and mines 1.5% of all block. We strongly recommend joining Slush Pool or Poolin instead.
4. Antpool.
Antpool is a mining pool based in China and owned by BitMain. Antpool mines about 11% of all blocks.
5. ViaBTC.
ViaBTC is a somewhat new mining pool that has been around for about one year. It's targeted towards Chinese miners and mines about 8% of all blocks.
6. 1THash & 58coin.
This is a Chinese pool made from two pools: 1THash and 58coin. They mine about 6% of the blocks.
7. Slush.
Slush Pool was the first mining pool and currently mines about 11% of all blocks.
Slush is probably one of the best and most popular mining pools despite not being one of the largest.
8. BTC.top.
BTC.top is a private Chinese mining pool and cannot be joined. It mines about 2.7% of all blocks.
9. Bitfury.
Bitfury is a private pool that cannot be joined. Bitfury currently mines about 3.5% of all blocks.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pool Comparison.
Pool Location Fees Private Pool BitFury Georgia 0% Yes Slush Pool Czech Republic 2% No Antpool China 1% No BW China 1% No.
The comparison chart above is just a quick reference. The location of a pool does not matter all that much. Most of the pools have servers in every country so even if the mining pool is based in China, you could connect to a server in the US, for example.
Get a Bitcoin Wallet and Mining Software.
Before you join a mining pool you will also need Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software and a Bitcoin wallet. You will also very likely need an ASIC miner, since GPU mining will likely never be profitable again going forward.
Mining Pools vs Cloud Mining.
Many people read about mining pools and think it is just a group that pays out free bitcoins. This is not true! Mining pools are for people who have mining hardware to split profits.
Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service provider to mine for you and you get the rewards.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:35 am

No more B250's|7:16
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:36 am

Cómo se prepara la Placa Base Asus B250 Mining Expert para Minar Criptomonedas #4|10:57
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:36 am

My new Asus B250 Mining Expert - 19 slot GPU Mining Motherboard. To the moon baby!|22:07
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:36 am
Just Want Bitcoins?
If you just want bitcoins, mining is NOT the best way to obtain coins.
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Which Countries Mine the most Bitcoins?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) tends to gravitate towards countries with cheap electricity.
As Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is somewhat centralized, 10-15 mining companies have claimed the vast majority of network hash power.
With many of these companies in the same country, only a number of countries mine and export a significant amount of bitcoins.
China.
China mines the most bitcoins and therefore ends up "exporting" the most bitcoins.
Electricity in China is very cheap and has allowed Chinese Bitcoin miners to gain a very large percentage of Bitcoin's hash power.
It's rumored that some Chinese power companies point their excess energy towards Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) facilities so that no energy goes to waste.
China is home to many of the top Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) companies:
It's estimated that these mining pools own somewhere around 60% of Bitcoins hash power, meaning they mine about 60% of all new bitcoins.
Georgia.
Georgia is home to BitFury, one of the largest producers of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware and chips. BitFury currently mines about 15% of all bitcoins.
Other Countries.
The countries above mine about 80% of all bitcoins.
The rest of the hash power is spread across the rest of the world, often pointed at smaller mining pools like Slush (Czech Republic) and Eligius (US).
A Note on Pools.
While we can see which mining pools are the largest, it's important to understand that the hash power pointed towards a mining pool isn't necessarily owned by the mining pool itself.
There are a few cases, like with BitFury and KnCMiner, where the company itself runs the mining operation but doesn't run a mining pool.
Bitcoin miners can switch mining pools easily by routing their hash power to a different pool, so the market share of pools is constantly changing.
To make the list of top 10 miners, we looked at blocks found over the past 6 months using data from BlockTrail.com.
The size of mining pools is constantly changing. We will do our best to keep this posted up-to-date.
If you cloud mine then you don't need to select a pool; the cloud mining company does this automatically.
Why are Miners Important?
Bitcoin miners are crucial to Bitcoin and its security. Without miners, Bitcoin would be vulnerable and easy to attack.
Most Bitcoin users don't mine.
However, miners are responsible for the creation of all new bitcoins and a fascinating part of the Bitcoin ecosystem.
Mining, once done on the average home computer, is now mostly done in large, specialized warehouses with massive amounts of mining hardware.
These warehouses usually direct their hashing power towards mining pools.
Payout Schemes.
How do Pools Pay Members?
You may be wondering how pools payout their members?
Is it the same way everytime?
Do all pools use a similar payment structure or are all of them unique?
When you become a member of a mining pool, there are a number of ways your rewards for contributing hashing power can be calculated. All of the payout methods use the term "share".
A "share" is awarded to members of the mining pool who present a valid partial proof-of-work.
Essentially, the more hashing power you contribute to the pool, the more shares you are entitled to.
Pay Per Share.
The most simple payout scheme, Pay Per Share guarantees the miner a payout regardless of if the pool finds the next block or not. The value of a share is determined by the amount of hashing power that is likely needed to find a block divided by the reward for finding it.
If 100 shares are likely needed to find a block and the reward is 6.25 BTC, then each share is worth .0625 BTC (6.25 / 100).
Payment is paid from the pool's existing balance and the amount of the payment is determined based on your number of shares.
Because payment is guaranteed, more of the risk is on the mining pool operator. The payouts to the pool members is therefore smaller than in Pay Per Last N Share, explained below.
One final feature of Pay Per Share is that transaction fees from each block are kept by the pool operator. Pool members are only paid based on block rewards.
Full Pay Per Share.
Full Pay Per Share (also known as "Pay Per Share +") is the same as Pay Per Share, except transaction fees are also paid to the pool members on top of the block reward.
Pay Per Last N Shares.
Pay Per Last N Shares is a more complicated payout that shifts more risk to pool members but also more rewards.
In Pay Per Last N Shares, pool members are only paid once a block has been found. Once a block is found, the pool looks at your share contributions for all previous blocks where the pool did not find the block, and this is called a "time window". All the blocks in a time window are known as a "round". Using these numbers, the pool determines your total share contributions over the round to determine your payout.
For example, if the pool mines through 6 blocks before finding a block, Then their reward for all the hashing power the pool contributed to the network over thsy 6 block round is 6.25 Bitcoins (not including transaction fees). If you contributed 100 shares for each of those blocks and the total number of shares was 1000, then your payment would be .625 BTC or .104 BTC per block.
The idea behind this payout scheme is that it removes all luck and only pays members based on their contribution to actual revenue earned by the pool. This scheme also incentivises members to continue mining on in the pool even as the profitability of mining different coins rises comparatively. This is because disconnecting from the pool before a block is found will pay you nothing.
Pools that use Pay Per Last N Share may or may not include transaction fees in their reward payouts so it is up to your to find this out from each pool.
Mining is not the fastest way to buy Bitcoin.
Supercharge your mining potential.
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Cloud Mining.
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Hardware Mining.
Start mining with your own ASIC hardware and benefit from our high payouts.
Testimonials.
Hear from some of our happy customers.
The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team.
Alexander Levin | CEO of Asicseer.com.
Mining.bitcoin.com has the highest payouts across the industry. Reliable and honest service.
Libo Zhao | CEO of YouDu.
Mine Bitcoin in the cloud without buying any mining hardware. Simply choose the amount of computing power you want to mine with on our global datacenters and leave the rest to us.
Calculate how much Bitcoin you could earn.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:37 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:37 am

What is Bitcoin Mining? (In Plain English)|16:01
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:38 am
Bitcoin Cash Daily Profit.
Bitcoin Daily Profit.
* Based on current mining difficulty and Bitcoin price. View historical difficulty for BCH and BTC.
** Daily fee covers electricity and maintenance costs. The contract will end if the total revenue from the past 30 days is less than the total daily fee for the same period.
Bitcoin.com global pool network.
Already have your own hardware or datacenter? Connect to our pool to maximize your profits and benefit from our monitoring features.
Monitor your mining anytime, anywhere.
Easily organize mining activity with your team. Track statistics like earnings, hashrate, and workers on the go.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:38 am

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Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:42 am
In this article, we'll examine the top five Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools. It's worth noting that this article is about mining with your own Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware and not cloud mining.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools Summary.
Mining pools allow individual miners to join their mining resources with other miners, to improve their chance of mining a block and earning Bitcoins. There are several pools to choose from, that are different in size and the payment methods they offer.
Larger pools offer more frequent payments, but smaller pools offer higher rewards (since the reward is split among less miners). Here are the top Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools today:
If you want a detailed understanding of how mining pools work and reviews of each one keep on reading. Here's what I'll cover:
1. What are Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools?
New Bitcoins enter circulation as a "prize" for miners who managed to guess the solution to a mathematical problem. The winning miner gets to add the latest block to the blockchain and update the ledger of Bitcoin transactions.
For a detailed explanation about mining watch this video.
By design, the more miners you have, the more difficult it gets to solve the math problem, and vice versa.
This system is called 'mining difficulty' and it was designed to regulate the flow of new Bitcoins into the system (i.e. to prevent inflation).
Bitcoin's popularity boost made the mining difficulty sky rocket and rendered small home mining operations pretty much obsolete.
As more and more people jumped on the mining wagon, the mining difficulty rose to a point that it became unprofitable to mine with a home operation.
Throw in the initial & ongoing costs involved in home mining (buying the gear, electricity bills, etc.) and not only you're not making a profit, you're actually losing money.
Enter mining pools.
Mining pools are basically groups of miners who pool their mining resources together to get more hashing power (i.e. computing power). The more hashing power you own, the better your chances of adding a block and claiming the mining reward.
With mining pools, miners manage to solve problems more often than they would mining solo. The rewards are then split between the pool members, proportionally to the amount of hashing power their gear contributed to the solution.
The mining pool owner usually charges a fee for setting up the pool as well. The pools vary in their payment methods, as well as in the fees they charge and other parameters.
2. How to Choose a Mining Pool?
Here are a few factors to consider when you're choosing a mining pool:
Pool size - Bigger pools offer more regular payments. However, the payout is smaller because it's shared among more members. Smaller pools offer less frequent payments but larger payouts. Whichever you choose, the return should even out in the long term.
Fees - Some Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools charge fees, and some don't. Fees can range from as little as 0%, and go as high as 4% off the reward.
Reliability and security - An important thing to look out for is whether you can trust the pool to not cheat and steal your funds, or not get hacked and lose your earnings.
A good way to mitigate such risks is by joining a more veteran, established pool. Make sure to also read user reviews before you join, keeping in mind that there'll always be disgruntled users so nothing should be taken at face value.
Payout policy - Whether you want regular daily payments or to get paid whenever a block is solved by the pool, make sure to do your due diligence before you sign up to a pool.
3. Mining Pools Reward Methods.
Before we can understand how mining pool reward methods work, we need to first understand what shares are, in relation to mining.
Simply put, shares are units that allow pool owners to calculate an individual miner's contribution to the hashing effort. Whenever miners are mining via a pool, they receive shares that are proportional to their contribution to solving a block.
Miners can then get paid by the pool, according to the amount of shares they received.
To be clear, in terms of the Bitcoin network, shares are invisible, they are only used internally by the mining pools. According to the share amount the pool's payment can take several forms.
Pay-per-Share (PPS)
In a PPS payment scheme, miners receive shares that can be paid out at any point along the hashing process. PPS allows miners to get paid for shares they received, regardless of whether a block has been solved during their participation.
To achieve that, the pool operators pay miners from their own balance. The shares' rate is fixed and known in advance.
A newer version of PPS exists, PPS+ rewards. This method takes the form of PPS as well as the TX fees included in the block. The reward TX fees are distributed using PPLNS.
This payment method guarantees payments and leaves the miners with very little risk of not being paid for their contribution. The downside of this scheme is the high fees the pool owners charge, to mitigate the risk they take by paying regularly.
Proportional.
Similar to PPS, miners submit shares along the block finding period.
The more hashing power you have and the longer you mined for the block, the more shares you can submit. Once a block is found, the pool pays the miners according to the amount of shares they received.
However in this payment method, the value you will receive for each share will equal the block rewards divided by the total number of shares submitted by all miners.
This means that the more miners that join the pool, the lower the value of each share you receive.
Score-based.
This payment method was designed to prevent miners from pool-hopping.
Your mining time and hashing power are calculated into a 'scoring hash rate' score. The longer you stay on the pool, the greater your score is and the greater the value of the shares you receive.
Once you stop mining, your score gets smaller and the value of your shares drop accordingly. Miners are rewarded once a block is found.
Pay Per Last N Shares (PPLNS)
In PPLNS, miners only get paid for shares received during a predefined "window" that ends with the solving of a block.
Unlike other payment schemes, shares received outside of the window will not be rewarded at all. This window can either be defined as a time frame (uncommon), or by a certain number (N) that represents the last shares received up to the block solving.
For example, if N equals 1 Billion, once a block is found only the last 1 Billion shares will be rewarded. While not defined anywhere explicitly, N is usually set as a multiple of the mining pool difficulty with a constant (usually 2).
Due to this, PPLNS is also called Pay Per Luck Shares. When implemented correctly, miners can't predict the right time to join.
With PPLNS miners can either get higher rewards if they get to receive more shares within the last N shares, or get no reward at all if they didn't.
Naturally, if you hang around a certain pool for long enough, your hits and misses should eventually even up.
4. Top 5 Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools.
May 2020: Hashrate distribution by mining pool. Image credit: blockchain.com.
SlushPool.
Pros: Established medium+ pool, score-based method reduces risk of cheating, user-friendly dashboard.
Cons: 2% fee may be too much for some people.
Announced in 2010, SlushPool was the very first Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool and undoubtedly led the way for many other mining pools to come.
Founded by SatoshiLabs current CEO Marek Palatinus (aka Slush), it's based in the Czech Republic and follows a score-based system to discourage pool-hopping.
This is a medium-large sized pool. SlushPool claims a 2% fee from every block solving reward. SlushPool's dashboard is very user friendly and provides excellent detail with regular updates.
While it may not be the largest of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools, it's certainly considered one of the best.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:42 am

HOW MUCH MONEY did $5,000 of Crypto Mining Rigs Earn in 2020?!|15:37
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:43 am

Bitcoin and cryptocurrency mining explained|7:46
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:44 am
Antpool.
Pros: Offers both PPLNS (0% fees) and PPS+ reward types, plenty of security options.
Cons: Owned by Bitmain (considered a drawback for Bitcoin maximalists)
Antpool is a medium sized Chinese Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool operated by Bitmain Technologies.
One advantage Antpool has is that you can choose between PPLNS (0% fee) and PPS+ (4% fee from the block reward and 2% from mining fees). Payments are made once per day if the amount exceeds 0.001 Bitcoin.
Those new to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) will appreciate the clean interface. The dashboard clearly displays earnings and hashrates.
There are also a variety of security options, including two-factor authentication, email alerts, and wallet locks.
BTC.com.
Pros: Established large pool, low withdrawal fees, TX fees included in payouts.
Cons: 1.5% fee, owned by Bitmain (considered a drawback for Bitcoin maximalists)
Known for their wallet and their own blockchain explorer, BTC.com have been around for a while, before opening a pool in 2016. Owned by Bitmain Tech, BTC.com is one of the largest pools around.
BTC.com have their own payment method, FPPS, which similar to PPS+ includes TX fees in the payouts, along with the block reward. As for mining fees, BTC.com charges 1.5% and has a 0.001 BTC payment threshold.
F2Pool.
Pros: Additional coins supported, low payout threshold, daily payouts.
Cons: 2.5% fee.
F2Pool is a medium-large pool established in 2013. Operating a PPS+ reward system, F2Pool takes a 2.5% fee, which is a bit on the high side.
Aside from Bitcoin, F2Pool also supports mining Litecoin (LTC), Ethereum (ETH), Zcash (ZEC), as well as other coins. There's a daily automatic payout, and the minimum withdrawal is 0.005 BTC.
Unlike some Chinese Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools, it has an English interface. The layout is quite simple, with information presented in a clear and concise manner.
Kano CKPool.
Pros: Low fees (0.9%), welcoming community.
Cons: Interface isn't user friendly.
Also known as KanoPool, Kano CKPool was founded in 2014. This small Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool offers a PPLNS payment model, charging a 0.9% fee.
With regard to payout, per each block found you will need to wait +101 block confirmations to get paid, which might take some time.
The pool's interface could do with an update as it's not the most user friendly. It doesn't have much in the way of features, but it does have two-factor authentication as an extra layer of security.
ViaBTC.
Pros: Additional coins supported, daily payouts.
Cons: 4% fees for PPS, 2% for PPLNS.
Launched in 2016 and headquartered in China, ViaBTC is a medium mining pool. In addition to BTC, the pool supports LTC, BCH, ETH, ZEC and DASH mining.
ViaBTC offers both PPS (4% fee) and PPLNS (2% fee) payment methods. ViaBTC is known for being able to maintain a high uptime, more than 99.9% as of writing.
Poolin.
Pros: Worldwide access, decent coin support.
Poolin was founded by 3 former Bitmain employees and quickly became one of the world's largest mining pools. In fact, with hundreds of blocks a month mined, Poolin is now one of the top 5 mining pools in the world.
The pool charges a 2.5% FPPS BTC mining fee. Additionally, poolin allows you to mine other coins including BCH, BSV, LTC and more.
5. Frequently Asked Questions.
The best performing miner today is the Antminer S17 Pro that can reach up to 62 TH/s with a power consumption of 2790 Watts.
How do I join a Mining Pool?
Here's how to join SlushPool:
Sign up to SlushPool Configure your mining device Register your payout address Check to see that you're mining.
A detailed explanation can be found here.
At a difficulty factor of 7,459,680,720,542.3 one Antminer S17 pro set to maximum power can mine 0.00208995 Bitcoins a day. Difficulty changes every two weeks on average so make sure to calculate before starting to mine.
Yes. With the right configuration Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still profitable. However, you'll need to have low electricity costs and a cool environment. You can calculate the exact profitability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) with a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator.
Remember that home mining is practically extinct and you're up against some big player, so in most cases it won't be worth mining if you're not doing it professionally.
6. Conclusion - Which pool should you choose?
Joining a mining pool is the logical thing to do if you want to make money mining Bitcoin. As you can see the pools vary in size, payment methods and fees.
If you're just starting out perhaps it would be best to join a large established mining pool in order to gain some experience. Once you feel comfortable you can optimize your earnings by choosing smaller or low-fee pools.
If you want to share your experience with one of the pools above, or tell us of a new pool, feel free to leave a comment below.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:44 am

Inside a Bitcoin mine that earns $70K a day|5:09
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:47 am
Want to find the best Bitcoin cloud mining contracts? This post has you covered. Just know ahead of time - the truth about cloud mining in 2020 isn't pretty.
Most Bitcoin Cloud Mining Companies are Scams.
Like the heading says, most cloud mining contracts are scams. Why?
Because it's easy for companies to take peoples' money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware.
So remember: 99.9% of cloud mining companies are scams.
Mining is not the fastest way to buy bitcoins.
Which Companies Are Not Scams?
We can't recommend any cloud mining companies at this time.
Note: If you do find a legitimate one, you'll need a wallet to receive payouts to. A secure hardware wallet like the Ledger Nano X is a good option.
Is Cloud Mining Profitable?
It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all.
You will get more bitcoins for your buck if you just buy bitcoins!
If you find a legitimate cloud mining operation and you are making profit, you will very likely need to pay taxes on that profit. The best way to determine the taxes you owe is to use a crypto tax software.
Bitcoin Cloud Mining Scams History.
The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website.
Once the website is setup it can claim that the company has a large mining facility.
The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments.
Two of the most famous cloud mining companies have already been exposed as scams: HashOcean and Bitcoin Cloud Services.
Even as recently as September of 2019, cloud mining scams are stealing people's money. The SEC equivalent of the Phillipines just issued a warning to customers of Mining City to get out now and have told promoters of the company that they could go to jail for up to 21 years if they don't stop immedietely.
Cloud mining scams are not a thing of the past. They very much so still happen today, so be vigilant or, better yet, just avoid them.
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Red Flags to Look Out for In Cloud Mining Operations.
If you beleive you have found a legitimate clound mining company, you can really make sure by putting it to the test.
If any of these red flags are present, we recommend proceeding with caution.
NOTE: the following are taken largely from Puppet's Cloud Mining 101 reddit post, which is a great supplement to this post.
Is there a way to direct hashing power to your chosen pool?
If you have purchased options for the right to some amount of hashing power, there is no reason why you shouldn't be able to direct that hashing power to any pool that you want.
If this is not an option, it is very likely that the hashing power does not exist at all.
Has an ASIC manufacturer endorsed the cloud miner?
There are only a handful of ASIC manufacturers who could service a large scale mining operation with hardware. Any cloud mining operation would not only allow an ASIC manufacturer to disclose a large ASIC purchase, but they'd also want them to do so to prove they are serious. So far, no cloud mining operation we are aware of has has an ASIC manufacturer acknowledge they are selling hardware to a cloud mining company.
Does the cloud miner have an affiliate program?
Cloud mining operations that offer affiliate bonuses are very suspect, especially when they are offering numbers as high as 10%. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is very competitive and has incredibly thin margins. There would be no way to mine profitably if they were paying not only you, but also the person who referred you.
Can you find out who the owners are?
If there is no way to the know idenntity of the cloud mining operation, there is no way to hold them accountable if they run with the money. It also makes it harder to catch the person who stole your money.
If, for instance, Jack Dorsey or Elon Musk was an investor/founder of a cloud mining operation (and they were public about it in a verifiable way), it would speak volumes about the legitimacy of the operation because they are so wealthy and so public that they would have too much to lose by scamming a few thousand people out of a few Bitcoins.
WARNING: Just because a cloud mining website boasts a famous person as an investor or advisor does not mean that person is actually investing or advising.
Anyone can throw up a picture of Elon Musk on their site. The real proof is if Elon Musk himself says in a news clip that he is a founder.
Can you sell your shares?
Investments should never be a one-way transaction. If you can easily give the cloud miner money, but there is no obvious way to sell your position and get it back, then that is a good indication you will never get your money back.
Does the cloud miner guarantee profits?
Any investment that guarantees profits is a scam. If the cloud miner has so far made good on delivering its guarantees, it is because they are using funds from new investors to pay off old ones and appear solvent. Ponzi schemes work this way. Eventually, they are going to run with the money, but you never know when it will happen.
The other point to consider is: if a miner could guarantee profits, why would they sell that right to you? Why wouldn't they take teh guaranteed profits for themselves?
Is there an unlimited amount of hashrate for sale?
If the amount of shares for sale in the cloud mining operation appear infinite, then they are definitely running a scam. No miner has an unlimited amount of hashing power. If they did, they could just 51% attack the network of their choosing.
What Payment Methods do Cloud Mining Companies Accept?
Most cloud mining companies accept Bitcoin, PayPal, and credit cards. If a cloud mining company accepts bitcoins then there is a good chance it is a scam.
This is because Bitcoin payments cannot be reversed. Once the scam company receives your bitcoin payment you have no way to get your coins back.
Are there Free Cloud Mining Trials?
No company would give away free cloud mining; this is basically giving away free money.
Any company offering free trials, especially if they require payment information, is most likely a scam.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:48 am

Noob's Guide To Bitcoin Mining - Super Easy Simple|11:37
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:48 am
How does Bitcoin Cloud Mining Work?
Cloud mining means a host company owns Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware and runs it at a professional mining facility.
You pay the company and rent out some of the hardware. Based on the amount of hash power you rent, you will earn a share of payments from the cloud mining company for any revenue generated by the hash power you purchased.
At least...that's how it works in theory.
In most cases, though, there is no mining facility or hardware. There is just a guy taking your money and paying part of it to someone who signed up before you did. Eventually he runs away with the money, and you are left with nothing.
Cloud Mining Viruses.
There have been viruses that land on computers and then use the computers' power to mine bitcoins.
This is particularly common with Monero since it is ASIC resistant and can be mined with GPUs.
Run a malware detector on your computer if you think you may have come under attack.
Is Mining Software the Same as Cloud Mining?
Mining software is something you download on your computer. It is required when you OWN mining hardware. Software connects your hardware to the internet so that it can make hashes and communicate with the network.
Just buy Bitcoins!
If you just want bitcoins, don't bother with cloud mining. Just find an exchange in your country and buy some bitcoins.
Learn More.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools.
Get a Free Bitcoin Wallet.
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Sitemap Bitcoin Wallets Exchanges Bitcoin Halving.
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:49 am

The Business Of Bitcoin Mining (Why It's So Difficult)|9:52
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 09:49 am

How To Mine Bitcoin - Easy Simple|11:31
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:02 am
Start Mining Now!
Excel Mining provides Bitcoin & Altcoin cloud mining at unbeatable prices! All our contracts feature the lowest fees on the market, instant hardware setup, and responsive support. Sign up now during our launch phase and receive 50 GH/s towards your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)!
What Do We Offer?
Bitcoin & Altcoin Mining.
Our mining services do not stop at Bitcoin. We also offer mining in Ethereum, Monero, Litecoin, Dash, and ZCash.
Unbeatable Prices.
Our prices are 65% lower than other major cloud mining providers. No cloud mining service comes close to our contract pricing.
Already Running Hardware.
Don't waste your time building rigs or waiting for parts to arrive. We can provide this all for you instantly and professionally setup.
Low Maintenance Fees.
With our hardware optimization and optimal cooling efficiency we achieve incredible results with very little energy needed in the process.
Daily Mining Payouts.
Mining payouts are processed every 24 hours of continues mining. Maintenance fees are automatically deducted from payouts daily.
99.9% Uptime Guarantee.
We can all agree downtime is the worst! That is why we have round the clock maintained facilities and fail-safes!
Why Choose Us?
We work every day and create new innovative products to meet your biggest and most complex requirements while offering the most flexible and cost-competitive solutions.
Low-cost, High-Performance Lowest Maintenance Fees No Hardware To Setup Higher Net From Mining Payouts Multiple Mining Algorithms Instant Activation High Transparency With Customers.
Run on Renewable Energy.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has bad effects on our environment, that's why we use wind & geothermal energy sources.
Two-Factor Security.
We strive to use the most up to date security protacals to keep our customers data safe from attackers.
Responsive Support.
We are dedicated to help and solve any and all of your concerns you may have in a responsive time.
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Don't waist time and money on other services with cheap hardware, we mine with high-end hardware!
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Have worldwide access to all your mining data and charts you may need, when you need them.
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With our ambition for Bitcoin and the technology behind it, we're always trying to evolve and grow.
Loved by individuals, and businesses across the globe.
Just a few of our many reviews and testimonials.
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The mining starts immediately after confirmed payment. First payouts within 24 hours.
SECURE.
Hardware is monitored 24/7 by onsite security guards as well as through remote security system.
INSTANT WITHDRAWAL.
Choose the amount to withdraw and receive it instantly.
STABILITY.
Miners are in stable operations within our dedicated datacenters. We provide 24/7 security and exchange of defective miners free of charge.
Low Electricity Rates.
Our datacenters are located in the Nordics where electricity rates are very low and 100% green.
DETAILED STATISTICS.
View all mining related information in real-time, at any point from any location.
Cheap Mining.
LEADERS OF THE MARKET.
Cheap-Mining.com is a unique online Bitcoin investment platform, which allows independent investors from all over the world to Mining Bitcoin.
Cheap mining is a Cryptocurrency Cloud Mining company. The company provides modern, high-efficiency platform rental services for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). We guarantee an instant connection, access 24/7, operation without any interruptions, real-time mining monitoring, easy-to-use and secure platform as well daily mining outputs.
Our company guarantees payments on deposits and affiliate accruals, we have a reserve fund and insurance. We are an officially registered company in London, we have all the permissions and licenses. We work completely legally and transparently. Low Fee We take low maintenance fees and transaction fees compare to other mining companies.
How It Works.
The main disadvantage of large currency exchanges and stock markets is a high entry threshold. In order just to obtain permission to direct stock trading, you must have at least $5,000 on your trading account.
This amount can be quite challenging for most people. Coinvestpro allows everyone to take part in trading on major world exchanges and markets, even if they don't have the required amount of money on their hands. This becomes possible by the means of creating a common financial pool.
Funds from hundreds of investors from around the world are accumulated in the accounts of our traders, who multiply them and return them to customers, keeping just a small fee for their services. This provides privat investors with significantly larger opportunities, while allowing us to work with bigger budget, thus maximizing the amount of profit.
Need help or have a question?
Frequently asked questions (FAQ) or Questions and Answers (Q&A), are listed questions and answers, all supposed to be commonly asked in some context.
We currently accept the following payment methods: • Cryptocurrency: Bitcoin,Perfect Money • Credit/Debit Card (Visa and Mastercard): Not Available .
You can access the Genemining platform from your computer or mobile phone . We recommend that you use the latest version of Firefox, Chrome, Microsoft Edge or Safari for the best Cheap mining experience.
It's super simple. Please enter a valid e-mail address. The registered e-mail will be used to activate your account and to restore in case of loss. Keep your Pin in a safe place, will be used as validation for Bitcoin withdrawal. As soon as you've set up the account, you can start to mine your first coins using our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) service!
You can get the referral link in your personal account (BONUS › Referral Bonus section).
Cheap Mining offers a Affiliate Program to increase your earnings. Each registered user of your referral link automatically becomes a affiliate. You will receive up to 10% Referral Bonus for every purchase made by any of your affiliates, excluding reinvest purchases. The bonus will be automatically added to your account balance in Bitcoin shortly after the purchase confirmation. For more information, please check in your personal account (BONUS › Referral Bonus section).
• Login with your Cheap Mining Account. • Go to section WITHDRAWAL. • Enter the amount to request withdrawal. • Confirm your Bitcoin wallet address before requesting withdrawal. The transaction is irreversible and can't be undone. You can change the wallet in the SETTINGS › My Account section. • Enter your Pin-Code. • Click on the WITHDRAWAL button. • Check status in the WITHDRAWAL section. The transaction will be processed automatically after confirmations within the Blockchain network. This can take a few minutes or hours. We cannot influence the speed of these confirmations.
Customer service is our highest priority. Therefore, if you need help, please contact us in your personal account (SUPPORT › Tickets section) .
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:02 am

Bitfire mining - New Cloud Mining Site - 100GH/S Free - BTC / ETH / ZEC|2:51
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:03 am

KAYIT OL 30 DOLAR KAZAN - BITFIRE MINING SIK SORULAN SORULAR !|7:11
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:03 am
Best Crypto Mining Rigs, Rated and Reviewed for 2020.
Digital currency mining has become a popular way for tech-savvy individuals to generate a return in the digital currency markets. However, as mining difficulties increase and the market becomes more and more competitive, miners need to ensure that they have the best crypto mining rigs to maximize revenues.
Here is a look at the best mining rigs to help you choose which ones are right for you and your mining operation.
Should You Still Mine Digital Currencies in 2020?
Digital currency mining has had an incredible rollercoaster ride in the last 36 months. During the big bitcoin gold rush of late 2017, bitcoin and altcoin miners were making bank and mining hardware providers were barely able to keep up with demand.
In 2018, it all went downhill as digital asset prices tanked aggressively from their all-time highs. As a result, digital currency mining also became less profitable as the number of miners had grown substantially - and thus also the mining difficulty - but asset prices dropped and miners' profits started to erode.
In late 2018, the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) bear market peaked when bitcoin dropped below the $4,000 mark, at which points Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) became no longer profitable for smaller mining operations that are not able to capitalize on the economies of scale from which its larger counterparts can benefit.
Going forward, digital currency mining profitability will be dependent on where the market will go next. If we see a rally again, miners will see profits again and more miners will (re)join the market.
Whether you want to start to mine digital currencies or not is entirely up to you. If you are only in it for the money, then it is probably best to wait for market prices to hit a level where mining makes sense (and cents) again.
However, if you want to learn about cryptocurrency networks, the blockchain, and how mining actually works, then you could start immediately with one of the more affordable miners and look at it more as an experiment than an investment venture.
Finally, it is important to remember that miners help to secure digital currency networks and, thus, play an integral role in the blockchain revolution. Therefore, you can also look at mining as your contribution to an industry that has the potential to change the world and increase the value of your portfolio along the way.
Related Articles:
If you want to learn more about digital currency mining and the new finance market, subscribe to the Bitcoin Market Journal newsletter and join the blockchain revolution today!
Best mining rigs and mining PCs for Bitcoin, Ethereum and more.
By Matt Hanson , Brian Turner 14 September 2020.
If you still fancy mining cryptocurrencies, these are the best pre-built rigs and PCs.
While some may argue that the cryptocurrency gold rush has tapered off a bit recently, there are still plenty of reasons why you'd want to buy the best mining rigs and mining PCs that money can buy.
If you invest wisely, it means you can still make a decent amount of money from mining, but which is best for you?
Before we get into our list of the best mining rigs and best mining PCs, we should explain some key differences between the two types of hardware.
The best mining PCs, are desktop computers that can also be used for other day-to-day tasks, such as working on and gaming. Meanwhile, mining rigs are specially-designed for one purpose only: to efficiently and effectively mine crypto currencies such as Bitcoin.
This means you won't be able to use a mining rig for other tasks, but it does mean you'll be getting the very best mining results thanks to the best mining rigs being designed to eke out the maximum return when running.
However, if you're weary of spending money on something that can only mine, then buying the best mining desktop PC is the way to go, as it means you're also getting a top PC to do other things with as well, though your mining returns won't be quite as good.
If you still want to build your own mining rig or PC, check out our guides on the best mining GPUs, best mining CPU, best mining motherboards and best mining SSDs to help you get started.
1. Shark Mini.
A great compact mining rig.
Graphics cards: 4 x AMD RX570/580 | Warranty: 90 days.
How to build a crypto mining rig in 2020 to earn Bitcoin and Ether.
Mining with home rigs is back, so here's what those interested need to know to put together their own rig at home.
In a time of global crisis, a pandemic, and a generally unstable political and social environment, cryptocurrencies have shown remarkable stability. Moreover, the pandemic-induced economic downturn played into the hands of the industry by not only attracting professional cryptocurrency traders but also reviving mining as a way of generating passive income.
It is not surprising that countries experiencing difficult political and economic situations have witnessed a boom in the purchase of GPU cards in recent months. In the region of Abkhazia, where all crypto activities have been illegal since 2018, citizens spent more than $500,000 on mining equipment over a period of six months.
Another factor that has worked to further popularize mining is strong crypto prices. Bitcoin (BTC) has risen by almost a third, while Ether (ETH), the most popular currency for mining, has added $150 to its price and the decentralized frenzy has meant that gas fees have reached unprecedented levels.
So, here's how to design a cryptocurrency rig -- and an exploration of whether it needs to be done at all, given all the associated risks.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:03 am
Mining rig components.
A cryptocurrency mining rig consists of a computer that has many graphics cards but no monitor. Computer cases are filled with GPU cards, a power-generating unit, a motherboard and a cooling system. If a monitor is connected, it can become a regular computer where a user can open a browser or play their favorite video game.
The rig is connected to the internet, and thus, the blockchain network. The network operates by itself to conduct monetary transactions using the power of the graphics cards. To be more specific, a mining rig consists of:
An ordinary motherboard, which has the capability of linking to a number of connectors for GPU cards. A hard disk drive, or HDD, with 100 to 250 gigabytes of memory to house the cryptocurrency wallet, with an Ether wallet usually taking up 25 GB and a BTC wallet requiring 50 GB or more. Several GPU cards, which are the most important components in a rig because they are the base that defines the cryptocurrency that a user will mine, along with their future profit and its timeline. A power-generating unit. A rig with four GPUs often requires more than one power unit. Usually, miners have a few 750-watt units connected together. A power adapter for GPU cards. Video cards are connected to the motherboard using special extension cards called "risers." There are many different types and models of risers, but the PCI-E 1x version 006 is the most popular. A power switch. A cooling system, and it's preferable to have several coolers to provide additional airflow.
Another important detail is the frame for the rig. It is better to make a frame out of wood or aluminum. The size of the mining rig will be slightly larger than its frame due to protruding parts, adapters and a cooling system. For example, a seven-GPU rig will be approximately 21 inches wide (53 centimeters), 12 inches deep (30 centimeters) and 12 inches high (30 centimeters).
After purchasing all the components of the rig, it's time to design it, which is a rather easy task for a person who has experience with computer hardware. Additionally, there are plenty of guides on YouTube.
When a rig is ready, all that needs to be done is to install some software -- i.e., to choose a program for mining the currency of preference. Another way is to find a mining pool, which is a popular way to mine, as it's becoming harder to do so individually due to the rising complexity of crypto mining. There are also some tools available such as TeamViewer, for remote control, and WatchDog, which automatically restarts the system if the program freezes.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:04 am

Bitfire mining qazandıqca qazanacaqsız|2:06
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:04 am

CLOUD MİNİNG ÖDEME KANITI - SİTE AÇIKLAMASI (BİTFİRE MİNİNG)|3:30
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:04 am

BitFire Mining|5:55
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:05 am
Top GPU cards.
As a rule, one rig should include four to seven video cards -- it's a number that will not go beyond the framework of a stable operation, although there are exceptions. Miners can connect 10 to 15 GPU cards to one motherboard, but seven is the optimal number because Microsoft's Windows 10 operating system can detect only this number of cards. But there is a solution: specialized mining software based on the Linux kernel. In that case, the key is to choose the right motherboard, such as an ASRock Pro BTC+ series or similar.
Determining which GPU cards are best for mining is not so straightforward, as the answer depends only on the amount of money that the miner has. In general, it makes little sense to buy the most expensive, powerful GPUs for the price of two to three slightly weaker ones, as there is a greater chance the cheaper ones will bring more benefits due to their low power consumption and initial cost.
The highest income in mining is currently achieved with Nvidia GeForce RTX 2080 Ti and AMD Radeon VII cards, but it is more profitable to build a mining farm with AMD Radeon RX 580 and Nvidia GeForce GTX 1660 Super cards, as they will pay off much faster.
It should also be kept in mind that AMD RX series GPU cards can be flashed by changing the working time of the RAM, downvolting the core and overclocking. Programs such as MSI Afterburner and Sapphire TriXX can assist in making these manipulations, which will help GPU cards achieve maximum performance during the mining process.
Electricity in question.
In over 10 years, the mining industry has turned from something incomprehensible and rather cheap to a professional, high-tech venture that implies high barriers of entry, not only for the equipment but also for its maintenance.
After purchasing mining equipment, paying the cost of electricity during its operation becomes the main expense that directly affects profitability. The energy consumption of one mining rig consists of the following components:
GPU cards, depending on the power and mining algorithm, consume between 360 watts and 1500 watts for a rig of six to seven cards. The motherboard, power unit, HDD and RAM consume up to 100 watts. The cooling system uses from 20 watts to several kilowatts when using air conditioning systems.
So, how can a miner reduce the cost of electricity? The main consumers of electricity are the GPU cards, and with the right settings, electricity consumption during mining can be reduced significantly. For example, when mining Ether, the main thing is to overclock the video memory. The most optimal operating mode for GPU cards is setting the core voltage to about 830 to 850 millivolts for AMD cards and 650 to 850 millivolts for Nvidia cards. Lowering the voltage on the core of the card, in addition to reducing power consumption, decreases the amount of heat, which has a beneficial effect on the equipment.
Power-generating units can also use less power if they have a "gold" certificate, which means they save a large amount of electricity (about 15%) compared with power units that lack them. Another way is to change HDDs to solid-state drives, which will increase the speed of loading the operating system and reduce the power consumption of each rig by five to 15 watts. Furthermore, modern RAM (DDR4 or DDR3L instead of DDR3) and processors can reduce consumption by another 10 to 20 watts.
A miner can also reduce consumption through slightly more complicated ways too, such as finding more economical electricity tariffs -- for example, installing the rigs where there are reduced tariffs for consumers with electric stoves or electric heating and lower night-time prices. If possible, miners can even reach out to a power plant that generates electricity to find out if it has surplus capacity. Some miners can create their own solar or wind farms and use them for mining, but not everyone can afford such an investment.
Mining in the cloud.
Keeping in mind the unstable situation in the economy, some may want to join the crypto mining community but cannot due to the high initial costs associated. Here's where "hosted mining" can come into play, whereby cryptocurrencies are mined through a remote connection to equipment that has been rented out. Philip Salter, head of operations at Genesis Mining -- a hosted mining provider -- told Cointelegraph:
"Since mining is becoming more competitive, margins are shrinking and it's harder for home miners to compete. Miners need to get every drop of efficiency they can, and that means growing the operation (economies of scale) and doing it somewhere where electricity is insanely cheap. [. ] Mining in the cloud seems like the only viable option for many."
Hosted mining starts with a user choosing a provider of computational capacity. Then they enter into agreements with the company to connect to its equipment. After paying for computer capacity, miners are provided with access to remote mining of cryptocurrencies through rented equipment. So, users only need a computer and a fast internet connection to operate. Hosted mining commissions are charged in accordance with the agreements established between the parties.
This type of mining has a number of advantages, such as not requiring start-up capital, not needing to connect equipment by yourself, no costs of maintenance and electricity, the ability to disconnect from work at any time, and not needing special technical knowledge and skills.
There are also risks in cloud mining, primarily because, like any young industry, many rogue actors seek to take over the funds of ignorant users. So, when choosing a platform, users should spend time and carefully study its history and reviews.
Also, hosted mining brings in lower income compared with mining using one's own equipment. Nevertheless, this is a possible option for those who really want to get involved in mining because, in any case, no one will give up an opportunity for passive income, even if it's not too significant.
Build it on your own.
In summary, it can be said that today, mining seems to be an attractive way to make some income. If for some reason hosted mining is inconvenient, then setting up a personal rig is not too difficult. This will require an initial investment and a little time to figure out how the system operates.
Randy Ready, CEO and chief technology officer of Mining Rig Rentals -- a hardware mining rental platform -- believes that building your own system certainly is more interesting, adding: "I suggest going with a small rig and potentially going larger once you are familiar with mining and have a stable profit."
Disclaimer. Cointelegraph does not endorse any content of product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.
How to Build Your Own Crypto Mining Rig: A Comprehensive Guide -
Are you a Crypto enthusiast? Wondering how to build your own crypto mining rig? We have got you covered. This article discusses the crypto mining rig and its components and how to build your own.
Is Crypto Mining Getting Popular? Crypto Mining Rig and its Components? How to Build your Cryptocurrency Mining Rig Crucial Point to Keep in Mind Before Building a Crypto Rig Concluding Lines.
Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Is Crypto Mining Getting Popular?
As the crypto economy continues to grow, crypto mining is gaining a lot of public attention. COVID-19 pandemic has caused a tremendous downturn due to which cryptocurrency traders are encouraging mining as a new way of generating passive income. Not only this, countries have started observing an increase in buying of GPU cards, which is the primary element for building a cryptocurrency mining rig. Even in the region Abkhazia, where all crypto activities have been prohibited for the past two years, it has been reported that citizens have spent around $500,000 on mining equipment over the past few months. Apart from this, ever-increasing crypto prices of Bitcoin(BTC) and Ethereum(ETH) is the other major reason for increasing crypto mining activities.
Want to know more about cryptocurrencies and become a Certified Cryptocurrency Expert? You are just a click away!
Crypto Mining Rig and its Components?
There is no exact definition of a mining rig. All you can say is that a mining rig consists of several GPU (Graphics Processing Unit) cards, which is considered to be the primary element for building a cryptocurrency mining rig but no monitor. Such cards have a power-generating unit, a motherboard, and a cooling system. Here it is important to note that a cryptocurrency mining rig has no monitor; it is just connected to the Blockchain network via internet connection.
A mining rig consists of a motherboard that has the linking capability with several connectors for GPU cards. The next component is a hard disk drive with 100 to 250 GB of memory to accommodate the cryptocurrency wallet . The next component is GPU cards that define the crypto asset that a user will mine with their future profit and timelines. A power-generating unit is another vital component. You can understand it in a way that if a rig has four GPUs, then it will require more than one power unit. Then comes a power adapter for GPU cards, a power switch, and a cooling system to provide airflow.
How to Build Your Cryptocurrency Mining Rig.
Once you have purchased all the components of the rig, all you have to do is install software for mining the cryptocurrency of preference. Moreover, you can also go to your preferred mining pool. After collecting all the components, all you have to do is start its design. For the designing process, there are many tutorials and guides that can help you.
To state which GPU is the best is not correct as it depends on how much money a miner can spend on buying one. It is advised to buy the more robust GPU cards for the price of two to three somewhat weaker ones, as the cheaper ones will bring more profits due to their lower initial cost and power consumption.
Crucial Point to Keep in Mind Before Building a Crypto Rig.
Building a crypto mining rig is not difficult, but a user must consider electricity as an essential parameter. This is because paying the cost of electricity is the most expensive task that can hamper profitability. Therefore, before building a crypto rig, users must gain a thorough understanding of GPU cards because these cards are the main energy consumers.
Power-generating units are also responsible for consuming a certain amount of electricity. They can consume even less power if they are 'gold-certified.'
After considering the high initial costs associated, Philip Salter, head of operations at Genesis Mining, believes 'mining in the cloud seems like the only viable option for many.'
Concluding Lines.
Mining is an efficient way to earn some money. Keeping the points mentioned above in mind will help you in building your own crypto rig.
To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications , check out Blockchain Council .
Best Mining Rigs.
The Best Crypto Mining Rigs You Can Buy The prices of cryptocurrencies like Bitcoin have been rallying of late, and this has led to an increase in the.
The Best Crypto Mining Rigs You Can Buy.
The prices of cryptocurrencies like Bitcoin have been rallying of late, and this has led to an increase in the price of graphics cards. Because of this, if you are looking to invest in a cryptocurrency mining rig, you might be better off buying a pre-built one rather than trying to build one yourself.
Keep in mind when shopping for a pre-built mining rig that these computers are very specialized. Unlike normal desktop computers, there are not intended for normal computer tasks. Instead, they are meant to be used exclusively for mining cryptocurrencies. But they do this very efficiently, helping you maximize your profits.
Here is our list of the best mining rigs mining that you can buy right now:
The Shark Mini is a compact rig that includes in its base model 4 AMD RX570/580 graphics cards, and it comes with a 90-day warranty. Shark Mining manufactures it, and the company is well respected by crypto-mining enthusiasts.
While the base model includes the 4 AMD RX570/580 cards, you can upgrade them to either a set of Nvidia GTX 1070 GPUs or a set of Nvidia 1070 Ti GPUs. These cards are more expensive, but they could be well worth the extra cost by increasing your profit accordingly. You can also buy a touchscreen display for the rig, so that you can monitor it.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:09 am
2. Bitcoin Gold GPU Miner 2000 H/s.
The Bitcoin Gold GPU Miner 2000 H/s includes 6 Nvidia GTX 1060 6 GB graphics cards. It also comes with what the manufacturer calls a "default factory warranty," though it is not exactly clear at this moment what this means. Ethereumminer.eu manufactures the rig, and its specs indicate that it could make miners a significantly profit under current market conditions.
While the rig itself is not inexpensive (even after recent price cuts), the profits a miner could earn from using such a rig could easily offset its costs in a short amount of time. Another great feature of this rig is the ability to customize it according to your needs.
3. Antminer D3.
The Antminer D3 is a fundamentally different mining rig than all the other rigs in this roundup, as instead of graphics cards it mines cryptocurrency through the use of what are called application-specific integrated circuit chips (ASICs). These chips have both advantages and disadvantages in comparison to GPU-powered rigs. The chips are cheaper and use less energy than graphics cards, but they also can be more complicated to use.
Mineshop.eu manufactures this mining rig, which is extremely compact. It is an especially good choice if space is limited or if you intend to specifically mine Bitcoin, as it can mine blocks of this cryptocurrency faster than many other rigs. It comes with an excellent 19.5 GH/s hash rate.
4. Shark PRO.
The Shark PRO includes 6 AMD RX570/580 graphics cards, and it comes with a 90 days warranty. Like with the Shark Mini, Shark Mining manufactures it.
While not nearly as compact as the Shark Mini, the Shark PRO is a well-built rig. One that is intended for professional cryptocurrency miners. While the rig is the most expensive one in this roundup, it is well worth it. It is not only fast, but it also comes with a plethora of configuration upgrades. The graphics cards, in particular, you can upgrade to one of the following Nvidia models:
GTX 1070 GTX 1070 Ti GTX 1080 Ti RTX 2080 Ti (available beginning in October)
The Shark PRO is a rig to consider if you are really serious about cryptocurrency mining.
5. PandaMiner B5 Plus.
The PandaMiner B5 Plus includes 8 AMD Radeon RX 460 graphics cards, and it comes with a 6-months warranty. Luckily Pandaminer manufactures this mining rig, which is not only compact but also far more attractive than the other rigs in this roundup.
This powerful rig packs a lot of punch while providing a good value for its price. Not surprisingly, this has made it a popular choice for cryptocurrency mining enthusiasts. It is so popular, in fact, that it is often sold out. But if you can find one for sale, you can be pretty certain that under current market conditions it will make you a fine profit. Another plus of this rig is that there are various models that you can choose from.
Title: Re: Bitcoin mining.
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How does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) work.
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Best Cryptocurrency Exchange: What does It Mean for Us?
For you to be able to recognize a reliable online exchange and sort out those that appear to be too weak, we list several features, paying attention to which would help you to make the right choice. 1. Service safety and security. It is critical to ensure that your data will not be leaked to any other parties. Thus, the availability of certificates, like the PCI DSS, serves as the proof of service’s safety. Besides, the regulation of exchanges is also important. For example, CEX.IO.
is officially registered in the UK; has a Money Services Business status in FinCEN; complies with the legal requirements of the countries where it functions.
In traditional fiscal system, governments and banks can (and do) issue more money whenever they want to. However, no one can do that in Bitcoin, since the money issuance process revolves around mining - an extremely clever process of confirming Bitcoin transactions and recording them on a decentralized ledger at the same time.
But how does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) work? In this guide, we dive into the fundamentals of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and the key processes behind it.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be defined as a process of "discovering" bitcoins. Much like gold, bitcoins are artificially limited, and there can never be more than 21 million BTC. Also, like gold, you need to allocate resources and hard work to extract it. However, unlike mining gold, bitcoins are designed to be minted using the computational power of millions of competing computers from all over the world.
It may be tricky to wrap your head around it at first, but in fact, it is quite genius. Everyone is free to run a Bitcoin node and try their luck at mining, but no one is guaranteed to be profitable at it. However, these millions of computers ensure one thing - the functionality and security of the network.
If you want to dive deeper into the topic of "what is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)," see our namesake guide.
For now, all you need to know is that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) serves multiple purposes:
Secures the Bitcoin network. Incentivizes the miners to allocate their resources to the Bitcoin network. Confirms Bitcoin transactions. Ensures the decentralization of Bitcoin (which makes it free global peer-to-peer (P2P) money). Makes bitcoins scarce and hard to get. Penalizes bad actors in the network by making it unprofitable to go against the system.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:11 am
How does mining work?
People can send bitcoins (or any other digital assets) all the time, but it doesn't mean much unless someone keeps tabs on all of them. This is especially true with digital assets which are super easy to copy. So to have a fully functioning digital cash you need to keep a record on who paid what and to whom, and that's essentially what banks do for us.
But how do we know that person A has sent bitcoins to person B if there are no organizations to oversee it? How do we prevent double-spending where person A sends the same bitcoins to person C?
The answer is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
The Bitcoin network replaces banks and other intermediaries by processing all the network transactions, putting them into a list, and locking them up into immutable blocks. Eventually, it's the miners who do all the work - allocate their hashing power to confirm those transactions and record them into a distributed public ledger.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) requires a computer and special Bitcoin program (client). When you install Bitcoin client on your computer, you become a miner and can compete with rival miners in solving complex math puzzles. Every ten minutes, all computers try to solve a block with the latest transaction data in it using cryptographic hash functions.
What are bitcoin hashes?
Every solved block is added to the public ledger. Essentially, the distributed public ledger consists of a long list of blocks which make up the Bitcoin blockchain.
The Bitcoin distributed ledger aka blockchain is a public record of all the transactions that took place on the network. Since the file is public, it can be explored by anyone using any bitcoin block explorer. A new block is added to the ledger approximately every 10 minutes. Therefore, the blockchain size is continuously increasing. An updated copy on a new block is shared between miners, so everyone always knows what's going on.
Now, what purpose does that serve?
In traditional systems, a ledger must be trusted, meaning that there has to be a trusted person or entity which oversees it and guarantees no one tampers with it. In the Bitcoin network, that role is played by the miners.
When a block of transactions is ready, the miners need to process it. They apply the SHA-256 Cryptographic Hash Algorithm to turn into a seemingly random sequence of numbers and letters known as a hash. The hash is stored together with the block at the end of the blockchain at that particular point in time, which serves as a proof of work and validation.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) \"farm.\" Source: Wikipedia Commons.
But how are these hashes so reliable?
Well, it's easy to make a hash out of data included in the Bitcoin block. However, it is practically impossible to decrypt the data just by looking at the hash because it is entirely random and each hash is unique. If you change even one symbol in the original input, you will get an entirely different hash. Therefore, it is completely impossible to predict the output and the only way to match it is by blind guessing, which is what miners do.
Nevertheless, the miners don't merely wrap the transactions into hashes but use some other pieces of data, too. One of these pieces is the hash of the last block.
Since each block's hash contains the hash of the previous block, it works as like a digital a wax seal. It guarantees that the produced block, as well as every block before it, is legitimate. If the block is falsified, other miners can see it and reject it.
In other words, a fake transaction would change a block along with its original hash. Since each block's hash is used to create the next block's hash, that would affect all blocks on the chain. So if someone checked it, they would immediately notice the difference between correct and false blocks since they don't match the ones already verified on the blockchain.
That's how miners "seal off" a block. Now let's have a look at the competition part.
Bitcoin \"mining.\" Source: Freepik.com.
Competing for coins.
We've already established that the only way to seal off a block is to guess the output of the hash correctly, and the most efficient way to do so is random guessing done by computers.
All miners compete with each other who can guess it faster using the mining software. The miner who is first to do this mines the block (which takes billions of random computer-generated guesses from all over the world) and reaps the block reward which is currently set at 12.5 BTC per block and decreases by half every 210,000 blocks. At the current rate, it means the block reward will fall to 6.25 BTC per block sometime in 2021.
Essentially, it serves as an incentive to keep on mining to keep the system working. Since the block rewards are continually decreasing, it is expected BTC price will continue to appreciate. However, block rewards aren't the only incentive mechanism for the miners, as they also share the collective Bitcoin transaction fees.
Check out this guide to learn more about the value of bitcoins.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:11 am

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Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:12 am
StefaNikolic / Getty Images.
Bitcoin is a sovereign system of digital money. It has no direct correlation to any real-world currency, nor is it controlled by any government or centralized entity. But people can (and do) use it to purchase real-world items at major retailers such as Overstock.com and Expedia.
In order to process these transactions securely, entities called miners compete to solve mathematically complex problems. The miner who is successful in solving the problem adds a block to Bitcoin's blockchain and receives a reward of 6.25 bitcoins.   In November 2020, a single bitcoin was worth over $18,000--meaning every successful miner receives over $100,000 worth of Bitcoin.  
Not only is this a reward for the miner's efforts, but the process of mining is how new bitcoins are generated and introduced into circulation.
All mining starts with the blockchain. This is an online decentralized ledger that records transactions throughout a network. A group of approved transactions is called a "block." These blocks are tied together to create a "chain," hence, the term "blockchain. "
In the Bitcoin network, a miner's goal is to add individual blocks to the blockchain by solving sophisticated mathematical problems. This requires enormous computational and electrical power. While many miners compete to add each block, the miner who solves the problem will actually add the block--along with its approved transactions--to the blockchain. This miner receives a reward of 6.25 bitcoins (as of November 2020).  
The reward rate is cut in half every 210,000 blocks, which roughly means every four years.   This process, called "halving," is algorithmically enforced, ensuring a predictable, unalterable rate of introducing new bitcoins into the existing supply--eliminating concerns of inflation.
Due to the inherent difficulty in mining bitcoins, there are a number of requirements when it comes to the actual mining process.
What Do I Need to Mine Bitcoin?
Bitcoin is designed to adjust the difficulty required to mine one block every 14 days (or every 2,016 blocks mined). The overarching goal is to maintain the time required to mine one bitcoin to 10 minutes. Since Bitcoin has been around since 2009, its mining difficulty is currently extremely high, which is why resource-intensive, powerful hardware is required to mine it.  
Regular household computers--even those with incredible power by today's standard--will not see any success in the modern Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ecosystem.
The first and most important piece of equipment needed to mine bitcoin is specialized mining hardware called application-specific integrated circuits, or ASICs. A new ASICs device can cost anywhere from several hundred dollars to $10,000. But the price of mining hardware is only a fraction of the expense involved. ASICs consume tremendous amounts of electricity, the cost of which can quickly exceed the cost of the device using it.
You'll also need to choose Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software to join the Bitcoin network. This isn't nearly as expensive as hardware. In fact, there are plenty of reliable software options available for free.
To determine the profitability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), all expenses must be considered: hardware, software, and electricity. The current value of Bitcoin, which consistently fluctuates, must also be taken into account, as well as taxes you might pay.
Each block takes roughly 10 minutes to mine. If more power and resources are dedicated to mining, and the time required to mine one block falls under 10 minutes, Bitcoin's mining difficulty will increase to bring the average per-block mining time back to 10 minutes.  
Can You Make Money From Mining Bitcoin?
At first glance, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) appears profitable. As of November 2020, the reward per block was 6.25 bitcoins, and one bitcoin is worth almost $18,000. According to these figures, Bitcoin generates over $100,000 worth of value every 10 minutes. If that sounds too good to be true, that's because it is--in part.
A single ASIC can consume as much electricity as 500,000 Playstation 3 devices, which is why Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) simply isn't profitable from home.  
The profitability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) mostly depends on the cost of electricity. For example, if you live in Louisiana and access electricity at an industrial rate of 4.58 cents per Kilowatt hour--which is the cheapest in the U.S.--you will lose money, even with top-notch ASICs hardware.  
Fortunately, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) enthusiasts without direct access to cheap electricity have another option.
Mining Pools.
One way in which Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can still be profitable--and perhaps the only way--is through mining pools. These enable miners to pool their resources together, adding power, but splitting the difficulty, cost, and reward of mining Bitcoin. There are several well-known Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools across the globe, including F2Pool, Poolin, and BTC.com.
When a mining pool is rewarded, the individual miners get a very tiny piece of this reward. One bitcoin can be divided by eight decimal places, meaning a transaction of 0.00000001 BTC can be facilitated by the Bitcoin network, thus accommodating thousands of Bitcoin miners who collaborate through mining pools.  
But miners might still wait a long time to successfully reap their reward. Though this is highly speculative, one analysis found that top-notch ASICs hardware would require about 1,200 days to receive one bitcoin from mining efforts as part of a pool.  
The IRS treats cryptocurrencies (including Bitcoin) received from mining as income. A miner needs documentation proving when a bitcoin was mined. The bitcoin will be valued based on its price the day it was mined. If a bitcoin is later sold at a higher price, the miner will need to pay capital gains tax on the difference.
If a mining operation is not part of an established business, additional tax obligations could apply. Such miners are likely to owe a self-employment tax of 15.3% on their annual income.  
How to Start Mining Bitcoin.
Though it is extremely difficult and rarely profitable, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still feasible. While the best results will derive from joining a mining pool, the following steps can be taken to venture into Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw):
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:12 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:13 am
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitable or Worth it in 2020?
The short answer is yes. The long answer... it's complicated.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) began as a well paid hobby for early adopters who had the chance to earn 50 BTC every 10 minutes, mining from their bedrooms. Successfully mining just one Bitcoin block, and holding onto it since 2010 would mean you have $450,000 worth of bitcoin in your wallet in 2020.
Unless you have access to very cheap electricity, and modern mining hardware then mining isn't the most efficient way to stack sats. Buying bitcoin with a debit card is the simplest way.
Ten years ago, all you needed was a reasonably powerful computer, a stable internet connection and the foresight of Nostradamus. These days, thanks to industrial Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operations, it's not such a level playing field and for a lot of people it makes more sense to simply buy some bitcoin on an exchange like Coinbase.
If you're motivated to learn, and you want to get a semi-passive income of bitcoin, then there are a few basics to get your head round, before working out if it's even possible for you to profit from Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Mining is the backbone of all proof-of-work blockchains and can be described with three key concepts:
Transaction Records.
The verification and addition of transactions to the public blockchain ledger. This is where you can view every single transaction that has ever occured in the history of the blockchain.
Proof-of-Work Calculations.
The energy-intensive puzzle that each Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine solves every ten minutes. The miner that completes the puzzle before anything else adds the new block to the blockchain.
Bitcoin Block Reward.
Rewarded with 6.25 bitcoins. This number will reduce to 6.25 bitcoins after the halving in May 2020. The reward (plus transaction fees) are paid to the miner who solved the puzzle first.
This process repeats approximately every 10 minutes for every mining machine on the network. The difficulty of the puzzle (Network Difficulty) adjusts every 2016 blocks (
14 days) to ensure that on average one machine will solve the puzzle in a 10 minute period.
Network difficulty is calculated by the amount of hashrate contributing to the Bitcoin network.
What is Hashrate?
Hashrate is a measure of a miner's computational power.
In other words, the more miners (and therefore computing power) mining bitcoin and hoping for a reward, the harder it becomes to solve the puzzle. It is a computational arms race, where the individuals or organizations with the most computing power (hashrate) will be able to mine the most bitcoin.
The more computing power a machine has, the more solutions (and hence, block rewards) a miner is likely to find.
In 2009, hashrate was initially measured in hash per second (H/s) - Due to the exponential growth of mining, H/s was soon commonly pre-fixed with the following SI units:
Kilohash KH/s (thousands of Hashes/second) Megahash MH/s (millions of Hashes/second) Gigahash GH/s (billions of Hashes/second) Terahash TH/s (trillions of Hashes/second) Petahash PH/s (quadrillions of Hashes/second)
To try and put this into perspective, let's look at how much revenue 1 TH of power can earn mining bitcoin. As the global hashrate is usually growing the revenue per TH for each miner is usually falling, - and the revenue chart for 1 TH/s looks like this:
When you consider how many TH/s there are in the entire Bitcoin network though, you get a true sense of the scale of the industry:
85 Exahash = 85,000,000 Terahash.
That means in May 2020 the daily revenue, globally, for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is: $8.45M.
How do Bitcoin miners calculate their earnings?
You've probably heard the scare stories about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)'s energy consumption.
Regardless of whether the impact is overblown by the media, it's a fact that the underlying cost of mining is the energy consumed. The revenue from mining has to outweigh those costs, plus the original investment into mining hardware, in order to be profitable.
Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Mining Revenue.
In 2020, one modern Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine (commonly known as an ASIC), like the Whatsminer M20S, generates around $8 in Bitcoin revenue every day. If you compare this to the revenue of mining a different crypto currency, like Ethereum, which is mined with graphics cards, you can see that the revenue from Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is twice that of mining with the same amount GPUs you could buy for one ASIC. Thirteen AMD RX graphics cards cost around the same as one Whatsminer M20s.
WARNING.
This graph shows you the daily revenue of mining Bitcoin. It does not take into account the daily electricity costs of running a mining machine. Your baseline costs will be the difference between mining profitably or losing money. GPU mining for Ethereum is more efficient than mining with Bitcoin with an ASIC machine.
You can think of it as though the miners are a decentralized Paypal. Allowing all the transactions to be recorded accurately and making a bit of money for running the system.
Bitcoin miners earn bitcoin by collecting something called the block reward plus the fees bitcoin users pay the miners for safely and securely recording their bitcoin transactions onto the blockchain.
What is the Block Reward?
Roughly every ten minutes a specific number of newly-minted bitcoin is awarded to the person with a mining machine that is quickest to discover the new block.
Originally, in 2009, Satoshi Nakamoto set the mining reward at 50 BTC, as well as encoding the future reductions to the reward.
The Bitcoin code is predetermined to halve this payout roughly every four years. It was reduced to 25 BTC in late-2012, and halved again to 12.5 BTC in the middle of 2016.
Most recently, in May 2020, the third Bitcoin halving reduced the block reward to 6.25 BTC.
What about transaction fees?
The second source of revenue for Bitcoin miners is the transaction fees that Bitcoiners have to pay when they transfer BTC to one another.
This is the beauty of Bitcoin. Every transaction is recorded in an unchangeable blockchain that is copied to every mining machine.
Bitcoin doesn't rely on a central bank to keep records, it's the miners themselves that keep the records, and they get to keep a share of the transaction fees as well.
Taxes on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profits.
Of course, while profiting on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) isn't certain, paying taxes on your mining rewards is. Every miner needs to know the relevant tax laws for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in his area, which is why it is so important to use a crypto tax software that helps you keep track of everything and make sure you are still making enough money after you account for taxes.
How do you know if you can profit from Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
First of all, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has a lot of variables. This is why buying bitcoin on an exchange can be a simpler way to make a profit. However, when done efficiently it is possible to end up with more bitcoin from mining than from simply hodling.
One of the most important variables for miners is the price of Bitcoin itself. If, like most people, you are paying for your mining hardware, and your electricity,- in dollars, then you will need to earn enough bitcoin from mining to cover your ongoing costs; and make back your original investment into the machine itself.
Bitcoin price, naturally, impacts all miners. However, there are three factors that separate profitable miners from the rest: cheap electricity, low cost and efficient hardware and a good mining pool.
1. Cheap Electricity.
Electricity prices vary from country to country. Many countries also charge a lower price for industrial electricity in order to encourage economic growth. This means that a mining farm in Russia will pay half as much for the electricity you would mining at home in the USA. In places like Germany, well as you can see from the chart, that's another story...
In practical terms. Running a Whatsminer M20S for one month will cost around $110 a month if your electricity is $0.045 kWh in somewhere like China, Russia or Kazakhstan. You can see from the table below that you would make $45 a month in May 2020 with those electricity prices.
Profitability with $0.045 kWh electricity.
However, with the typical home electricity price in the USA, of $0.12 kWh, you would be running the machines at a loss from the start and it would not make sense to mine under these conditions:
Profitability with $0.12 kWh electricity.
2. Efficient Hardware.
So far in this article I've used the Whatsminer M20S as an example of the kind of machine you will need to mine bitcoin. These days there are several hardware manufacturers to choose from.
The price of hardware varies from manufacturer to manufacturer and depends largely on how low the energy use is for the machine vs the amount of computing power it produces. The more computing power, the more bitcoin you will mine. The lower the energy consumption the lower your monthly costs.
When choosing which machine to invest in, miners should think about the machine's profitability and longevity.
Profitability is determined by the machine's price per TH, how many watts the machine uses per TH, and your hosting costs. Longevity is determined by the production quality of the machine. It makes no sense to buy cheaper or seemingly more efficient machines if they break down after a few months of running.
If the hosting cost is low enough, it often makes sense to prioritize the 'price per TH' over 'watts per TH', as your lower operational expenses (OpEx) will make up for the loss in your machine's efficiency - and vice versa if your hosting costs are high.
The manufacturer with the lowest failure rate right now is MicroBT, who make the Whatsminer M20S and other Whatsminer models.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Turnoff Prices.
One useful way to think about hardware is to consider what price BTC would have to fall to in order for the machines to stop being profitable. You want your machine to stay profitable for several years in order for you to earn more bitcoin from mining than you could have got by simply buying the cryptocurrency itself.
The following table shows that the majority of the most modern machines could remain profitable at a bitcoin price between $5000 and $6000. Some machines could handle a drop below $5k, if they are being run with electricity that costs under $0.05 kWh.
Unfortunately most older machines are now no longer profitable even in China. The Bitmain S9 has been operational since 2016 and interestingly enough they are still being used in Venezuela and Iran where electricity is so cheap that it outweighs the risk of confiscation. There may, eventually, be more reputable sources of sub 2 cents electricity as the access to solar and wind improves in North America.
For the individual miner, the only hope of competing with operations that have access to such cheap electricity is to send your machines to those farms themselves. Not many farms offer this as a service though.
3. Reliable Mining Pool.
These days, every miner needs to mine through a mining pool. Whether you are mining with one machine, or several thousand, the network of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machines is so large that your chances of regularly finding a block (and therefore earning the block reward and transaction fees) is very low.
If the Bitcoin Network Hashrate is 100 EH/s (100,000,000 TH/s), a WhatsMiner M20S ASIC miner with 68 TH/s, has approximately a 1 in 1,470,588 chance of mining a Bitcoin block. With one block per 10 mins they may have to wait 16 years to mine that one block.
The oldest two pools are Slush Pool and F2Pool. F2Pool is now the largest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool and they support around 20% of the entire Bitcoin network.
F2Pool's payout method is called PPS+. PPS+ pools take the risk away from miners, as they pay out block rewards and transaction fees to miners regardless of whether the pool itself successfully mines each block. Typically, PPS+ pools pay the miners at the end of each day.
This is how PPS+ pools calculate how much to pay out to miners in their pool. Here comes the science part...
If the Bitcoin Network Hashrate is at 85 EH/s (85,000,000 TH/s), a WhatsMiner M20S ASIC miner with 68 TH/s, will earn around 0.000702 BTC per day before pool fees.
0.000702 BTC is calculated by 68 (miner hashrate) ÷ 85,000,000 (network hashrate) × 144 (number of blocks per day) × 6.25 (block reward).
Pool fees are normally 2.50-4.00%, so let's use 2.50% for the example; the net mining revenue is therefore 0.00068445 BTC.
If BTC is priced at $9,000, then this M20S has a daily revenue of $6.16.
Choosing the right mining pool is very important, as you will receive your mined bitcoin sent from the pool payouts every day. It's important to choose a pool that is reliable, transparent and offers the right suite of tools and services to help you optimize your mining operation.
4. Fees When Selling Bitcoin.
An often overlooked facet of mining profitability is the fees one pays to sell the Bitcoin one mines. If you are a small time miner, you may have to sell your coins on a retail exchange like kraken or binance. Sometimes your fees are low but sometimes your fees are high - it really just depends on the fee structure of the exchange and the state of the orderbook at the moment.
However, if you are a professional miner like F2 or Bitmain, you likely have really advantageous deals with OTC desks to sell your coins at little to no fees - depending on the state of the market. Some miners are even paid above spot price for their coins. Either way, professional mining operations deal with Bitcoin at a large scale and so they have more leverage to get deals that are good for them, and this doesn't just apply to electrcity purchases.
If you think you have what it takes be mine profitably, we suggest you make sure first by using our mining profitability calculator.
Professionals vs Amateurs.
It's common knowledge that it has become very difficult for individual miners to get access to the best machines and the cheapest electricity rates. Bitcoin farms that operate at scale use these advantages to maximize their returns.
As the difficulty of mining bitcoin increases, and the price lags behind, it is becoming harder and harder for small miners to make a profit.
It all comes down to scale and access to cheaper prices. When people enter the space, without prior relationships, they struggle to compete with established mining operations.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is starting to resemble similar industries as more money flows in and people start to suit up. With increased leverage, margins are lower across the whole sector. Soon, large scale miners will be able to hedge their operations with financial tooling to lock in profits, whilst bringing in USD denominated investments like loans or for equity.
As mining becomes more professional, it will make things even harder for DIY miners.
Can you Mine direct to an exchange?
If you have put in the effort to learn about mining, and you have found a location with low cost electricity for your machines, then you still need to consider where to store the bitcoin that you mine.
It is possible to mine direct from the pool to an exchange, but we recommend you keep your bitcoin in a wallet where you have access to the private keys.
Here are our top picks for Bitcoin wallets:
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Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Worth It? (2020 Updated)
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) worth it?
In this article, we’ll answer that question given that today, large scale mining operations now dominate the landscape. We’ll consider equipment costs, what can give you an advantage in mining and how to determine profitability. В.
Before we dive in though, if you’d like a primer on what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is, including some interesting facts that you might not be aware of, we’ve published another article: What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). The article is a great introduction to the topic of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and if you’re new to crypto you might want to check it out before reading this more technically rich article.
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In this article.
The State of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Today.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) today is dominated by mining farms, large Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operations with thousands or tens of thousands of ASICs (specialized mining devices) all under one roof. These operations benefit from economies of scale as well as the financial acumen to hedge their operations using futures and options.
As of publication, the Bitcoin hashrate has not quite reached its all-time high from March 2020. However, that won’t last long and at some point over the summer of 2020, the hashrate will break old records. Why is this important?
A high hashrate means that it’s more difficult to make a profit mining Bitcoin. The higher the hashrate the more miners there are (or fewer but more efficient miners) which means you’ll earn less by mining.
So when deciding whether you want to mine Bitcoin you should consider the hashrate and how that will affect your bottom line.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Costs.
The two major costs in mining Bitcoin are electricity and equipment costs, I.e. the ASIC miner costs. If you live somewhere with cheap electricity this puts you at an advantage.
In fact, this is why Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is common in China, which has cheap hydroelectric power, as well as in Venezuela, with its cheap, state-subsidized electricity. University dorm room mining, where electricity is a fixed cost per semester, is also increasingly a thorn in university housing budgets. В.
The other cost, the ASIC miner, is nothing to dismiss. A top of the line miner can cost anywhere between $1,000 and $3,000. Again, the small guy who is buying a handful of miners (or just one) is at a big disadvantage to the large mining farms getting a discount by buying in bulk. В.
As expensive as an ASIC is, it’s advisable to buy top of the line equipment as the latest generation of miners usually provide the best ROI. When you look at Amazon and see old ASIC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs selling for $100 each, there’s a reason that they’re that cheap.
These old rigs are so inefficient that the electricity costs dwarf any potential returns вЂ" unless you have a source of nearly free electricity (we do not recommend mining from WeWork or moving to Venezuela).
There is a reason this miner only costs $99. Image credit: Amazon.
To throw another wrench in the gears of profitability, ASIC miners become obsolete faster than anyone would like. If you buy a miner when it first comes out you can typically get between 6 to 12 months of peak efficiency before the next generation comes out and makes your ASIC old news.
You can still mine on older equipment of course but the cost to reward ratio is going to be increasingly disappointing. Also, as shown above it’s not as though you can sell the old rig to recoup your costs. Old ASIC miners are just about worth their weight in high grade firewood.
Finally, you have mining pool fees, cooling fees, mining software fees, the time cost of maintaining your rig, and the set up costs.
An ASIC is as loud as a hairdryer and almost as hot. When you’re mining, you’ll need to keep your rig in a noise insulated container, or somewhere outside, like your shed, which will require some special planning to avoid fires.
So having mentioned those factors, let’s take a look at the next question, is it worth it?
So is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Worth It? For Most, No.
Is mining Bitcoin worth it? As a financial investment, probably not. For it to make financial sense you would need very cheap (or free) electricity, strong technical acumen to optimize the operation of your ASIC(s), and plain luck.
As an example of how mining might go wrong, you can imagine how well all those people did who started mining in January of 2018…
Anyone who began mining in January 2018 had a very, very rough go of it. Image credit: TradingView.
If you still want to mine BTC, a tool like a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability calculator can be a great resource to help you decide whether mining Bitcoin is worth it. You can select different coins, input the cost of your electricity and so forth.
One consideration when running a cost-benefit analysis is that a Bitcoin ASIC will allow you to mine several different coins, including BTC, BCHSV, and BCH among others. So you can switch between networks to arbitrage opportunities.
That being the case, mining BTC is usually the most profitable opportunity and you shouldn’t count on a financial windfall from mining other coins.
Still, it does appear likely that we’re entering into a new crypto bull market. Or at the very least, that another protracted depression in prices is fairly unlikely. You can probably count on prices at least remaining where they are now, if not going higher as we move toward 2021.
Probably the best way to look at mining is as a hobby. Mining may be profitable, it may not be, but the experience is where the enjoyment comes from. Setting up the mining rigs, learning about Bitcoin, contributing to network security and bragging to your friends that you do some Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on the side. All part of the fun.
From a strictly financial point of view the best way to make money is probably to buy Bitcoin from an exchange and hold it in your wallet. But if you have a realistic idea of what mining will be like, and how much you can expect to earn, then by all means it’s worth it.
Here’s How You Can Still Benefit From Bitcoin’s Rise.
All signs point toward a new crypto bull market. Arther Hayes, the CEO of Bitmex, has suggested Bitcoin will be $20,000 again by the end of 2020. Macro trader turned Bitcoin bull Raoul Pal doesn’t give a timeline but he suggests Bitcoin is headed to $100,000 in the not too distant future. Plan B, a prominent crypto analyst, is calling for $288,000 sometime by 2024.
The very best way to benefit from this potential upside for most people will be buying Bitcoin and keeping it somewhere safe.
Given all of the costs associated with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), and the unfortunate advantage that large mining operations have from buying ASICs and electricity in bulk, it’s not likely that you’ll earn a positive return from investing a few thousand dollars in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Buying Bitcoin and storing it safely is the best strategy for most people.
Once you’ve purchased your Bitcoin, it’s paramount that you store it safely. Billions (with a B) of dollar’s worth of cryptocurrency are stolen every year. Nobody thinks it will happen to them, until it does, and centralized exchanges are notorious for losing customer funds.
One of the best ways to store your Bitcoin, as well as any other cryptocurrencies that you’re invested in, is with the Exodus wallet. Exodus is one of the most well reviewed wallets in the cryptocurrency ecosystem thanks to a couple of important features:
It supports over 100 crypto assets It’s both easy to use as well as visually appealing Exodus is the only cryptocurrency wallet that supports desktop, mobile, and hardware wallet (Trezor) integration Exodus allows you to exchange your Bitcoin for other cryptos right from your wallet - without creating an account! You can sync your wallet balances between desktop and mobile There is 24/7, fast human support if you ever need help From left to right: Exodus on Trezor, mobile, and desktop. Download Exodus BTC wallet.
It’s important to be realistic. There are too many articles that make it sound like Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is an easy way to make a quick buck.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is firmly in the hands of the big players and they have all of the advantages, from cheap equipment and electricity to dedicated engineers who do nothing all day, every day, but optimize operations.
If you’d like to mine as a hobby that’s awesome! Contribute to the network and earn some coin on the side. Just make sure that you’ve already got some Bitcoin safely tucked away so that, fingers crossed, when a new bull market begins you can benefit from rising prices.
This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Worth It in 2020?
One of the most talked-about terms in 2018 and 2019 was Bitcoin. Everyone was informed about this cryptocurrency, were you also paying attention? If not, sit back & relax! Here, we will talk about bitcoin a bit more, and we will tell you all there is to know in 2020, and you will stay up to date! Also, we will help you determine and finally figure out if this is the right move to make sometimes soon, or if you should skip on mining!
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How to know if bitcoin is for you?
Not everyone is a professional when it comes to crypto values or Bitcoin in particular. This is why you can have a simplified version and a lot of help with Dinksfinance.com and on their website.
There, they will help you download and run custom operating systems, and will help you out with:
All of your transactions are handled a lot easier.
Basics of Mining.
With the help of basic software, you can do complex calculations on the layers of a digital lock.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work.
Here, person transaction fees can be paid for their enforcements. New bitcoins are also being built every day!
Buy Bitcoin Gold with USD.
Just by depositing 150 dollars, you can buy bitcoin gold straight if possible.
They also have amazing customer support + you will understand all there is to know, no matter if you are a beginner or a professional when it comes to Bitcoin!
So, is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) worth it?
So, if you are a beginner, this fun fact will interest you. Did you know how long it takes to mine just 1 Bitcoin? Ten minutes! So, how much time do you have, how much are you willing to spare, and how much money do you want to invest in your little mining machines?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) today is dominated by thousands ASICs (which are specialized mining devices) that are all placed under one roof!
The Bitcoin hashrate didn't reach its all-time potential since March of 2020. Luckily, this won't last for too long and you can expect this hashrate to break old records sometimes by the end of the year.
The higher the hashrate - the harder the chances to make a profit. If the hashrate is high, you can expect a lot of miners.
What are the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) costs?
You will spend most of your money on electricity as well as the equipment costs. If you are lucky enough to live somewhere where the electricity is super cheap - this is a major advantage, and you should give mining a chance!
Most mining is done in China since they have super cheap power.
The ASIC miner can cost you around $1,000 to $3,000. However, people who buy in bulks may get a discount, which makes the price even more affordable!
Also think about the pool fees, cooling fees, mining software fees, as well as the time cost of maintaining your rig.
Once you think about all of these factors it is time to reconsider and question yourself - is mining still worth it in 2020?
Is it worth it?
Before and while it was the most-talked topic (back in January of 2018), Bitcoin was having its rough start.
Nowadays, there are Bitcoin calculators that can help you decide if mining Bitcoin is worth it, which makes the process and your money investments a lot safer and easier to do!
Usually, mining BTC is the most profitable opportunity.
However, once you look at the overall picture, you can expect that prices remain where they are now. However, they will progress as we move into 2021.
How to understand mining, and what to do about it?
The best way to look into it and to think of it is as a hobby. For some, it can be profitable. However, sometimes, the journey and the experience can be even more fun than the end goal itself!
You should enjoy setting up the mining rigs, learning about Bitcoin, as well as investing a smaller amount of money into your first attempts. Start slow and proceed gradually6.
Source: FX Empire.
How to benefit?
According to some stats as well as the CEO of Bitmex, Arther Hayes, Bitcoin will be around $20,000 by December 2020, or by January 2021. Also, Bitcoin is headed to $100,000 in the near future. Some analysts also believe that it could be around $288,000 sometime by 2024!
What is the best way to profit or benefit from Bitcoin? Buy it in the near future, and store it somewhere safe.
You probably will not make a positive return of a thousand dollars in the next month or so, but it may take years for you to profit (so, be ready for it).
Source: MIT Technology Review.
What should you watch out for?
Have you purchased your very own, first, Bitcoin? It doesn't matter which one is it, all crypto values should be stored properly and safely. Why? Well, did you know that billion dollar's worth of cryptocurrency is stolen every year?!
Make sure to invest proper time & care when hiding your Bitcoins. Some experts recommend that you get yourself an e-wallet, such as an Exodus wallet. This one as well as similar wallets can support over 100 crypto assets + they are super easy to use and navigate through and on your own!
Source: The Conversation.
Summing it up: Top 3 reasons to proceed with Bitcoin.
Proceed if you have cheap electricity and you can store your machines at one facility with ease, and you have space to spare. Choose the right and reliable mining pool and that pays out every day. You can even mine directly to an exchange. However, investing in an e-wallet may seem like a safer way to do it. Source: Planet Compliance.
Ready for your new Bitcoins?
Are you ready to explore the world of mining? Although 2020 may not be the best year for Bitcoin, it seems like its bright future is ahead! If you don't mind waiting around till 2021, give it a go! However, if you are someone who is quite impatient and you need profit today, rather sit this one out.
Depends on how much hardware you have and the cost of electricity where you'll be mining. If the cost of electricity is high, likely not, and if you don't have an ASIC mining rig, also likely not.
If you have moderate to low electricity cost, probably, but you'll need an ASIC to see any major returns--a CPU/GPU won't cut it.
You can use an ASIC miner, a GPU, or a CPU to mine Bitcoin. You'd have to download Bitcoin's blockchain, a mining program, and connect to/establish a mining pool.
This is a simple question with a complex answer. There are a few different factors that influence whether or not Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) will be worth it for you. Even with the rising Bitcoin price, the set-up fees and electricity costs may outweigh the revenue that you'd earn through mining.
The primary factors that affect your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitable are:
Mining difficulty and rewards Hash rate Operational costs.
Mining difficulty and rewards.
The mining difficulty determines the complexity of the algorithm you need to solve when creating a new block of transactions. As more miners join the network, the difficulty increases making Bitcoin harder to mine.
The reward for mining a block is currently 12.5 Bitcoin . This reward is cut in half every 210,000 blocks with the next "halving" set to occur in 2020. Ideally, the price of Bitcoin will increase enough to outweigh the continuing decline of the mining reward.
You should also factor in the conversion rate of Bitcoin to fiat if you plan on cashing out at any time. With the volatility of Bitcoin's price, this could greatly affect your profitability.
The biggest unknown when calculating your projected Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitable is the amount of yearly profitability decline . No one knows how many miners will continue to join the network, so it's nearly impossible to calculate just how much your revenue will decrease each year.
The hash rate is the speed at which your mining rig can solve the algorithm needed to mine new blocks. Although a mining rig with a high hash rate may seem nice, they usually cost significantly more to purchase and operate.
When choosing a miner, you should first figure out how long you'd like to mine for . If you're only planning on mining Bitcoin for a short amount of time, it could be advantageous to pick up a less expensive miner. Even though the hash rate may be lower, you may be able to pay off the initial purchase cost at a faster rate.
Operational costs.
There are a few different costs you need to consider when calculating your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability.
The electrical costs differ based on your electricity rate and the power consumption of your mining rig. Mining rigs are usually listed with their typical power consumption, and you can find your electricity rate on your power bills.
To mine effectively, you'll need to join a mining pool and pay the associated pool fees . A mining pool is a group of miners that work together to mine blocks at an increased rate. The reward of each block is then split amongst the miners enabling you to get paid more regularly. These fees range anywhere from 0% - 5% .
You should also include the upfront cost of buying a mining rig when calculating your potential profitability.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability calculators.
Once you've figured out some of your costs and mining rig options, you can use a calculator to determine whether or not Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is worth it for you. 99Bitcoins and CryptoCompare both have great calculators for you to use.
If you find that you won't be profitable mining Bitcoin, don't fret. There's plenty of other coins like Monero or Litecoin that you may find more profitable for yourself.
HODL Or Mining: Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Worth It In 2020?
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The cryptocurrency community is usually divided into three major camps when it comes down to potential ways to earn money.
The first is inhabited by traders, believing that the best way to make profits is to take advantage of the volatility in the market by trading.
The second comes in the form of long-term investors, also known as Hodlers. They believe in a cryptocurrency's (usually Bitcoin's) value and that it will increase notably over the years, so they don't trade it - just hold it.
The third option - enter miners. Those are people who have invested a large amount of money in hardware so that they can mine a particular cryptocurrency. Today we will take a more in-depth look into mining as a whole and will try to answer the question of whether or not it's still profitable in 2020 or miners should use that money to invest directly.
Even though plenty of different coins are "mined," we will provide the examples and explanations using Bitcoin, as it introduced the term "mining" in the industry, being the first-ever cryptocurrency working on this principle.
Bitcoin miners use high-powered computers to solve complex computational math problems, and the whole process is called the "Proof-of-Work" consensus algorithm. The result of this endeavor is two folded - miners "create" new bitcoins, and they also help verify each transaction, keeping the payment network secure and trustworthy.
The latter happens when the miners clump transactions together in "blocks" and then add them to a public record, called "blockchain." By doing this, they are making sure the transactions are accurate, and that double-spending cannot occur.
In return, miners receive bitcoins as rewards for completing each transaction, and the amount of new coins released with each mined block is called "block reward." It decreases in half every four years in a process called...
The Bitcoin Halving Event.
Every four years, the Bitcoin halving slashes in half the rewards that miners receive for their efforts. So far, there have been two previous cases - in 2012 and 2016. The former cut the rewards for a solved block from 50 BTC to 25 BTC and the latter from 25 BTC to 12.5 BTC.
It happens after every 210,000 blocks, and the next one will take place next year, further decreasing the rewards to 6.25 BTC. This brings us to our initial question - would Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) be still profitable in 2020 but more on that later.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Throughout the Years.
Back in the day when Bitcoin was initially introduced to the public, mining was usually done on personal computers. At that point, profitability was pretty easy, because miners already had the needed equipment, so they didn't need to invest any money to start. Additionally, the biggest competition they had was other miners using the same type of equipment.
Quickly though, this changed with the induction of application-specific integrated circuit chips (ASIC) that offered extremely higher capabilities than the regular personal machine, thus making them obsolete. The bar was notably raised, and adding the high expenses; individuals could no longer compete properly with the new standard. Moreover, this was the time when large Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) centers started to emerge with severely powerful machines.
It's worth noting that after ASIC-powered computers started operating, the hash rate of the largest crypto increased dramatically, as well, ultimately making the network much healthier.
BTCHashrate. Source: Binance Research.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Allocation.
With the entry of the new and powerful technology and the creation of large mining centers, it became clear that those establishments will be in control of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). China grew into the most prominent player in this game by controlling 66% of all the hash rate, as Cryptopotato recently reported.
Such a large percentage operated within the borders of the same country could be regarded as a potential issue for Bitcoin. One thing that remains positive, though, is that no single entity has more than 25% of the total control, let alone over 50%.
Bitcoin Hashrate Distribution. Source: blockchain.com.
As we can see in the picture above, Poolin controls around 18.3%, followed by F2Pool - 14.8% - both based in China.
We can also notice that the largest part indicates that it's unknown, which could raise concerns that it may be under a potential attack. However, the report quickly disproves it by clarifying that it appears this way only because they were unable to establish the origin yet.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Still Worth It Today?
Here comes the big question, but it doesn't have a straightforward answer. It consists more of complex issues that have to be explained before we can determine the outcome. Let's begin with the four major factors that we need to acknowledge.
The cost of electricity to power the computer systems. Mining difficulty The availability and price of computer systems Competition.
The first one is somewhat subjective and depends mainly on the location, as the electricity costs differ depending on where the mining machine is stationed. Also, the bills change with the different seasons, and in most places, the price is lower at night.
The difficulty factor is strongly related to the hash rate of Bitcoin as it measures the transaction validation in hashes per second. The network is designed to produce a certain number of bitcoins per second, and when there are more active miners, the difficulty increases to ensure that the level is of distribution is static.
Even though the availability of computing power sounds like it wouldn't provide any issues, that's not always the case. During the parabolic price increase of 2017 and the increased media attention, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) became extremely popular and lots of people were trying to get in. Rapidly, the hardware became scarce, which also exploded the prices, leaving lots of potential miners "on the street." Nowadays, though, similar equipment can be found more easily and usually cheaper.
The competition could be the most significant factor, as mentioned above. As we can see from the previous paragraph, large mining companies have entered the field, leaving less grinding materials for the individual.
Now we can see why the question doesn't have just a "yes" or "no" answer. In fact, by looking at all of those factors, each future miner should ask himself whether or not it's worth it for him. But before heading to the hardware store to make large purchases with the idea of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), make sure that you have made all of the needed calculations.
Final Words.
Mining has become a billion-dollar industry in recent years, with so many large players trying to establish further control. However, those changes are generally excluding individual miners, yet many continue to do it and manage to make profits. Next year Bitcoin will go through its third halving, cutting the rewards that miners receive in half to 6.25 BTC.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:31 am

Top 5 des meilleurs site de CLOUD MINING (Miner de la Crypto, BITCOIN, ETHEREUM...)|10:10
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:32 am
On the surface, this might repel potential newcomers who are asking the question if it's not more profitable just to invest in the largest crypto and wait for it to grow over the years. Yet, the growth is not guaranteed; however, by mining, people not only receive BTC as rewards but also keep the network safe and validate the transactions, making them one of the most critical pieces of the Bitcoin puzzle.
Is it worth Mining Bitcoin in 2020?
Many people have been asking themselves if Mining Bitcoin is worth it or profitable. There is massive domination of the landscape by the large scale mining operations. The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) started early by early adopters who could earn 50BTC every 10 minutes. The Bitcoin Guide below will give you a great perspective of why Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is worth it.
Bitcoin Guide: the state of Bitcoin today.
Mining farms, large Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operations, and many specialized mining devices dominate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in the current world. The economies of scale are the main benefiting factors of these operations.
Bitcoin Harshrate.
Bitcoin Harshrate is a very crucial thing in the mining of Bitcoin. The Harshrate is essential so that if its higher, you will not make maximum profits in Bitcoin. It is because when the Harshrate is higher, the large the number of miners available hence you will earn less.
Is Mining Bitcoin Worth It?
A little miner is digging on graphic card with golden coin. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and crypto currency concept.
Most of the people see the Mining of Bitcoin as not worth it since it requires cheap electricity, sharp technical insight to operate the ASICs and plain luck. You can use tools such as mine BTC or Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitability calculator that will enable you to see if Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is worth it. Here you can choose various coins, add the electricity cost and many other things.
Bitcoin ASIC will help you immensely in mining numerous coins such as BTC, BCHSV, and BCH when operating on a cost-benefit analysis. They will help you in switching between networks to arbitrage opportunities.
Mining BTC is a good thing considering those factors, and mining other coins should not be counted as a financial windfall. If you want to be great in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), you need to take it as a hobby. It may be profitable or not profitable to you, but bringing enthusiasm is the experience when doing it. It is all fun to create mining rigs, educate yourself about mining Bitcoin, your contribution to network security, and tell your friends or colleagues that you have specialized in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
If you want to make more money, purchase Bitcoin from an exchange and then hold it to your wallet. If you have excellent knowledge about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and how it will look and how much money you will be earning, then it is worth it, and you should go for it. For more bitcoin insights click here.
How to benefit from the rise of Bitcoin.
A great way to earn from mining is to buy Bitcoins and keep it a place where it will be very safe. The Exodus wallet is the best way to store the Bitcoin that you have purchased. Exodus is the most preferred in the world of cryptocurrency due to the following factors:
It gives support to more than 100 cryptocurrencies. It is effortless to use, and its visuals delightful and appealing. It allows the integration of desktop, mobile, and wallet. You can easily exchange your Bitcoin with other cryptos from your wallet, and you do not need to create any account. Offers 24/7 services to the people.
Electricity and equipment costs are the two significant cots of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). People who live in homesteads that have cheap electricity are at a great advantage. It is the main reason the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a big thing in china since it has a very affordable hydroelectric power.
We have another cost, ASIC, which is minor but not to be ignored. The tiny miners' costs between $ 1000-$ 3000 and a person need to buy plenty of them have caused considerable disadvantages to the large firms on receiving discounts when purchasing in bulk. ASIC is very expensive hence advisable to buy the best equipment since the current generation of miners offers ROI. The evidence is on the Amazon s the old Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs go for less than even $100.
However, the ASIC miners become very obsolete fast, and it is their major negative thing. It will serve you for approximately 6-12 months in good conditions before the new ones are invented, and yours becomes obsolete after purchasing the ASIC miner. The cost of a reward ratio is very disappointing if you use mine on old equipment. The old equipment once becomes obsolete; it losses value as you cannot sell it to anyone.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:32 am

Bitcoin : résultat d'1 an de cloud mining et mon avis sur le mining des cryptos !|17:03
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:32 am

La vérité sur les Cloud-Miners|26:29
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:33 am
The old ASIC miners are very useless and cannot help you with anything.
A mining pool is another cost of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). They are collections integrated to share the blocks' rewards in proportion to contributed mining hash power. However, they have a negative aspect as they unfortunately take control of the pools' owners. Yet, Miners have a choice to redirect their power to the various mining pools at any time they want. A mining pool is one of the costs affecting Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). The following are the biggest mining pools.
● Poolin- mines about 18% of all blocks, and it is a public pool. They are found in china and have a website fully in English.
● F2Pool- it mines 17%
● BTC.com- it comprises of numerous public that can be joined. It mines 15%
● Antpool- it is found in China, and its owner is BitMain. It mines 11% of all the blocks.
● ViaBTC- it is the new mining pool that has been in operation for a year. It mines 9% and has majorly targeted the Chinese miners.
● Slush- it is the oldest mining pool and mines 11% of all the blocks. It is the best and most popular pool in the world despite its small size.
● BTC.top- it is a company that cannot be joined and mines 7% of all blocks.
● Bitfury- it mines 3.5%; it is one of the miners that mine the fewer percentage blocks.
Many people have stated that Bitcoin is a straightforward way of making money. However, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is dominated by huge companies that enjoy numerous advantages such as cheap equipment, electricity, and very experienced engineers that optimize the operations.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Still Worth It?
Before we get into whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still worth it, let's explain briefly what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is. Mining involves verifying transactions by solving algorithmic puzzles or finding blocks. This process increases the security of the Bitcoin Network and also earns the miner a small portion of the coins they produce or mine.
We have seen a rising interest in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) since its value rose from about 900$ per coin to about 20,000$ in less than a year. That increase was related to Bitcoin's second halving, and now we are in a similar situation. On May 11, Bitcoin's third halving occurred, and already we are beginning to see trends comparable to the bull run of 2017. And like last time, more and more people are looking to start mining themselves. However, is it still worthwhile to explore Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Over the Years.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has undergone different technological changes in the last decade. The genesis block was created on January 3, 2009. Back then, it was possible to mine Bitcoin using a regular personal computer. CPU mining was prominent in the beginning since there weren't a lot of users or transactions. In other words, the processing power and energy needed to mine were relatively low.
As Bitcoin established a price on the market, people began to realize that they can earn more cryptocurrency by using faster hardware. This gave rise to GPU mining rigs, which were nearly six times more powerful than the best CPU mining hardware.
Shortly afterward, FPGA mining entered the scene. This hardware was able to compute the mathematical operations required to mine Bitcoin twice as fast as the currently available GPUs.
The changes happened quite rapidly, and the influx of people joining the Bitcoin network lead to a steep increase in the mining difficulty. Today, CPU and GPU mining is obsolete. In 2013, the most significant evolution to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) was introduced - the ASIC (Application-Specific Integrated Circuit). ASICs are computers built with only one purpose - to mine Bitcoin.
The super-machines rendered every mining device used before useless. The advent of ASICs further increased the Bitcoin difficulty, an upward trend that continues till today. While there have been new generations of ASICs every year, no new mining technology has emerged since then.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and the 'Difficulty' Regulator.
Bitcoin's difficulty works as a regulator to maintain a stable production of verified blocks every 10 Minutes. This variable changes every 2016 blocks or roughly every two weeks. This ensures that Bitcoin production doesn't go too low or too high. The higher the difficulty rate, the lower the amount an individual miner earns, and vice versa.
When it was first introduced, Bitcoin's mining difficulty was 1. As of July of 2020, the difficulty has hit an all-time high at 17.35 Trillion. This difficulty level happened just a few days after the network reached an all-time-high 'hash rate.'
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitability.
Now that we have primed you on mining and difficulty, back to the main topic. So, is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) still worth it? This answer is yes, well, sort of. While there is money to be made from Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), the environment is a bit harsh for individual users. Mining, as it is today, is mainly a competition among large corporations. However, as an individual, if you have the right tools at your disposal, you could make it work.
Some ASICs allow the end-user to customize the hardware. This makes it easier to control the variables that affect profitability. For example, with the right tweaks, you could make an ASIC device require less electricity with minimal decrease in hash rate. In other words, the device can be configured to consume less energy, thus improving your net income since less money goes towards electricity.
It is, however, important for all new Bitcoin miners to find out their breakeven price for their current system setup before committing to a plan. The cost of electricity is the most crucial variable when analyzing how profitable you are going to be.
Some websites can also help you calculate the profitability of a single ASIC device. By simply inputting your device power in TH/S and your electricity rate, you can get a good idea of your total expenses and mining income at the end of each month. Something to keep in mind is that Bitcoin's price is volatile, and the difficulty also changes every two weeks, so earnings for a given device may vary daily.
In closing, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still worth it if you have certain things going on for you, like cheap electricity rates and access to efficient and affordable ASICs. And, of course, mining profitability will receive an even greater boost if the Bitcoin price does us all proud.
If you want to make money on the Bitcoin market, you essentially have three choices. You can trade on an exchange, buying low and selling high in much the same way as you would with Forex or shares. You can hold on for dear life, a strategy known as HODLing , which means buying your digital assets and hanging on to them like a long-term investment. Or, of course, you can mine your very own Bitcoins from scratch.
HODLing has created Bitcoin billionaires in the digital currency's early years, but today, is more likely to create controversy and derision. Trading is the activity of choice, and the arrival of user-friendly digital platforms for the smartphone age like Crypto Engine has opened this activity up to amateur traders and investors everywhere.
That leaves mining. The activity has a reputation for demanding high-end and costly hardware, although once you have it up and running, you can essentially set it and forget it. The question is, with the next Bitcoin halving event coming later this year, would miners be better spending that money on one of the other strategies?
A few words about mining.
In case you've always seen mining as some techy activity that you really don't need to know about, here's the quick and dirty on how it works. Miners use their expensive hardware to solve complex mathematical computational problems in what is called the proof of work mechanism. This achieves two objectives. It effectively brings new bitcoins into existence and at the same time strengthens and "verifies" the blockchain.
What's halving got to do with it?
Miners essentially receive bitcoins as a reward for the work they do on the blockchain. This is known as the block reward, and every 210,000 blocks, this amount is halved. It happens every four years, so the block reward has steadily dropped from 50 BTC to 25 BTC to 12.5 BTC. This year, it will drop again to 6.25 BTC.
More work for less reward.
In the early days, Bitcoin miners were a small group of people using personal computers. Over the years, they have multiplied in number and technology has advanced at a similarly exponential rate. Mining in 2020 is big business. China has become a powerhouse in this area, and the top miners use hugely powerful and expensive equipment. Keeping up with the competition means investing more in terms of time and money - yet the block reward is dwindling.
So is it worth it?
Of course, there is no simple yes/no answer to that question. Mining has evolved into a multi-billion dollar industry that is dominated by major players. Having said that, there are still thousands of individual miners out there who are continuing to make profits.
Nevertheless, the overall environment for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), taken in combination with the forthcoming halving event means that this is not an activity that is likely to attract many newcomers. When you look at it that way, it is unsurprising that when it comes to making money from Bitcoin, trading platforms are by far the most popular tool in the amateur's armory.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:33 am

Le MINING de crypto est-il rentable en 2020 ? Avec quel mineur ?|42:26
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:33 am

CLOUD MINING in 2020! - REVIEWED - Is Cloud Mining Legit or a Scam?|6:45
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:35 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be highly profitable, but it requires power-hungry hardware and a deep understanding of the principles that drive blockchain technology. In order to mine Bitcoin, you’ll need specialized Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware called application-specific integrated circuit devices, or ASICs.В.
There are many different ASICs on the market today. These devices have evolved through a highly competitive Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) arms race вЂ" the Bitcoin blockchain uses vast amounts of processing power in order to solve extremely complex math problems and secure its network, forcing hardware to become progressively more powerful.
Entry-level Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) devices can be relatively low cost, while high-performance miners can range up to over $10,000. When assessing ASIC hardware with the intent of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), you’ll need to weigh up the power of the hardware versus the amount of power it draws, along with the cost of electricity in your region.
In this article, we break down the 10 best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware machines of 2020, presenting a breakdown of hash rate, power draw, and potential profitability.
What to Consider When Selecting Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has changed dramatically since the launch of the Bitcoin network in 2009. During the first few years of Bitcoin network operation, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) could be performed on virtually any home computer with a relatively powerful CPU.
As the Bitcoin network grew, however, the computational processes required to secure the Bitcoin network became increasingly complex, forcing miners to shift to more powerful GPUs in order to keep up with demand.В.
Eventually, the need for hardware with high hash power вЂ" the speed at which mining hardware operates вЂ" resulted in the creation of dedicated ASIC hardware. The highly specialized nature of ASIC hardware allows Bitcoin miners to mine faster, using less electricity.
ASIC hardware is now essential to Bitcoin miners. There are three primary factors to consider when choosing the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware:
Price:
The price of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware varies based on operational efficiency, durability, and computational power. As a rule, cheaper hardware will deliver lower efficiency and lower profitability. The cost of mining hardware should be incorporated into any profitability analysis, taking the expected lifespan of the hardware into account.
Efficiency:
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware is essentially designed to convert electricity into BTC. If you’re not sure how to choose the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, focusing on energy efficiency is the best place to start.В.
Hash Rate:
Hash rate is the rate at which Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware is able to make intensive mathematical operations. In simple terms, the higher the hash rate of the hardware, the more likely it is that the miner or mining pool for which the hardware is operating will solve the next block in the Bitcoin blockchain. As a rule, higher hash rate hardware is more expensive.В.
Overall, the best Bitcoin ASIC is the most cost-efficient, most profitable ASIC. The development of ASIC devices has accelerated rapidly over the last decade, with new hardware released on an annual basis that often renders older hardware obsolete.В.
Here are the best ASICs for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in 2020:
The Bitmain Antminer S5 isn’t the latest offering from the Beijing-based ASIC manufacturer, but still provides excellent value for money and efficiency. Unlike later models such as the S7 and S9, the AntMiner S5 operates a lower power supply of 115 volts, drawing an average of 560 Watts.В.
The low power requirements of the S5 makes it an ideal entry-level Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ASIC that is capable of providing impressive operational efficiency. The S5 generates a hash rate of roughly 1 GH/s for every 0.51 Watts, which equates to 0.51 J/GH.
The S5 is suitable for both hobby miners and entry-level home mining operations, with the added benefit of a low weight profile at just under 2.5KG.В.
2. Bitmain AntMiner S7.
The Bitmain AntMiner S7 is another older model from Bitmain’s highly popular line of ASIC units but remains one of the most popular devices online today. Offering lower power consumption than the S5, the S7 is widespread throughout China-based Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farms and boasts impressive adaptability when used in combination with a robust power supply such as the 1600 watt APW3.
While the S7 does deliver reasonable profit depending on power prices, the efficiency of the unit depends on both the power supply used and ambient temperature вЂ" the S7 is particularly sensitive to environments warmer than 27 degrees Celsius.В.
Overall, the S7 is most suitable for miners based in cooler climates, as cooling costs can significantly cut into profitability in warmer regions.В.
3. Bitmain AntMiner S9.
The Bitmain AntMiner, widely touted as the most efficient and most powerful Bitcoin miner on the market, offers miners a highly impressive hash rate of 14 TH/s at a surprisingly low power draw.В.
The high hash power of the S9 is delivered by a trio of boards, which feature 189 ships between them. Combined with an Antminer 1600 Watt supply, the S9 yields twice the efficiency of the S7 at 0.1 Joules per Gigahash with a draw of just 300 Watts more than the previous model.В.
A key downside of the S9 is the loud operational volume вЂ" the S9 is unsuitable for home applications, as the sturdy 4.7KG frame has the propensity to magnify operational noise.В.
4. AntMiner T9.
Released in August 2017, the AntMiner T9 remains one of the most powerful ASIC units available on the market today вЂ" as well as one of the most expensive. The T9 is frequently compared to the S9 in terms of performance and efficiency but contains some notable improvements in chip quality that enhance hardware stability.
Later batch AntMiner T9’s consume around 1450 watts, delivering approximately 11.5 TH/s and an efficiency rate of 0.126 J/GH. Profitability analysis based on performance alone places the T9 below the S9 in terms of profitability, but stability enhancements make the T9 a more reliable choice for smaller-scale mining operations.В.
The AvalonMiner 741, released in April 2017, provides hobby and smaller-scale Bitcoin miners with a reasonably powerful miner at an affordable price. Manufactured by Canaan, the 741 is a significant upgrade over the prior Avalon 721 model, integrating a new cooling design and a stronger chipset.
The Avalon 741 comes with 88 chips and a new cooling mechanism that enhances the efficiency of airflow within the device, alongside dual heatsinks mounted around the PCB. Canaan’s 2017 741 miner delivers a hash rate of 7.3 TH/s, with an energy efficiency rate of 0.16 J/GH вЂ" far more efficient than other ASIC units in the same price range.В В.
6. Bitmain AntMiner L3+
Bitmain’s L3+ is one of the most popular ASIC units in the world for Scrypt miners and is focused solely on mining this particular algorithm. The L3+ is based on the BM1485 chip, which provides significant improvements over the chipset used in the previous L3 model вЂ" doubling the hash rate and power draw of the L3.
The L3 provides a hash rate of 504 MH/s, with a power consumption of 800W. Running a higher hash rate with the L3+ results in serious power draw, but the lower price point of the device compared to more expensive models such as the Innosilicon LTCMaster makes the L3+ the best miner for Scrypt.
7. Bitmain AntMiner D3.
The Bitmain Antminer D3 is the precursor to Bitmain’s 2018 D5 ASIC, but is a highly popular device for miners focused on mining Dash вЂ" a cryptocurrency that was originally designed to be ASIC-resistant. The D3 is currently the most efficient miner for mining Dash, and offers major competitive advantages over other devices.
The D3 delivers a hash rate of 19.3 GH/s, with a power consumption rate of just 1350W. The realized efficiency rate of the D3 is 0.07 J/MH. When compared to the iBeLink DM384M, which has similar power requirements and produces only 384 MH/s, the D3 remains the more cost-effective option.В.
8. Dragonmint T1.
Manufactured by Halong Mining, the Dragonmint T1 is an impressively powerful ASIC that delivers 16TH/s with a remarkably low power draw. The T1 consumers 0.015J/GH which, compared to the Bitmain Antminer S9’s power draw of 0.098J/GH, provides a significant advantage over Bitmain-focused mining builds.
The T1 integrates ASICBoos technology, which provides an additional efficiency boost of 20 percent when operating with the Bitcoin algorithm. Notably, the T1 uses the DM8475 chipset, which yields more robust profitability over Bitmain’s S9 offering.В.
9. WhatsMiner M3X.
The WhatsMiner M3X is manufactured by Pangolin Miner, and provides use case-specific functionality for individual miners or mining farms that aren’t restricted by high power consumption and extremely loud operating volume.
While the M3X is not an ideal option for at-home hobby miners, the device itself delivers 12 to 13 TH/s with power consumption that ranges between 1900W to 2100W. Driven by 28nm ASIC chip technology, the M3X is powered through the WhatPower P5 which, notably, won’t run on 110-120V mains voltage and demands 180-240V mains voltage in order to operate.В.
10. Avalon6.
The Avalon6 is currently the best Bitcoin miner for home mining or hobby Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), delivering impressive functionality with a low noise profile and reasonable power draw at an affordable price point.В В.
While the Avalon6 provides a significantly lower hash rate than Bitmains Antminer S7 or S9 at 3.5 TH/s, the extremely low sound emission of the device along with chip array that consists of 80 18nm A3218 chips, the Avalon6 produces only 55dB of noise within 1.2 meters proximity.
The 500MHz standard frequency of the Avalon6 can be tuned via frequency control, which makes it ideal for miners seeking Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware that operates efficiently with complex temperature control вЂ" or overclocking opportunities.В.
Additional Considerations.
Determining the best Bitcoin miner for your requirements involves carefully assessing the hash rate of any given miner, temperature control requirements, and power draw. The cost of power in the region you will operate your mining equipment is critical, as this plays a major role in calculating overall profitability.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:35 am

Just Mining - Retour après 1 mois de Cloud Mining|4:39
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:35 am

Is Cloud Mining Worth it in 2021?|14:24
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:36 am
Crypto Taxes From Mining.
It’s also important to consider the potential tax implications of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Depending on the scale of your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) efforts and your geographic location, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) may be considered a business activity or may generate taxable events when you dispose of the Bitcoin earned through mining.В.
You can learn exactly how to handle your cryptocurrency received from mining on your taxes here: Crypto Mining Tax Guide .
Cryptocurrency Tax Software.
If you’re disposing of the Bitcoin you earn from mining through cryptocurrency exchanges, you can use cryptocurrency tax software like CryptoTrader.Tax to eliminate the stress associated with crypto tax reporting. Using CryptoTrader.Tax, it’s possible to import all Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)-related trades from any given exchange through seamless integration.
Once all of your mining transactions are imported, CryptoTrader.Tax automatically retrieves the historical fair market value prices for each mining payout and gives you an income report you can use with your taxes.
You can learn more about how CryptoTrader.Tax works here .
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Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software: Best BTC Miners in 2020 Welcome to Bitcoin Miner Machine.
Bitcoin Miner Machine a graphical frontend for mining Bitcoin, providing a convenient way to operate Bitcoin miners from a graphical interface. It supports both AMD and NVIDIA GPUs, as well as CPU mining. You can choose between pooled mining and solo mining - the software embeds a list of mining pools to choose from.
Bitcoin Miner Machine is the premier Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) tool for Windows and is one of the easiest ways to start mining Bitcoins. By offering a simple and easy to use graphical interface, Bitcoin Miner Machine will let you take full control of your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) process without requiring complicated commands or constantly editing configuration files.
Bitcoin Miner Machine is the perfect Windows mining software for beginners and experts alike, offering a ton of useful features that will help anyone get the greatest amount of Bitcoins with the lowest amount of fuss.
Bitcoin Miner Machine supports the most popular Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software, including OpenCL Miner for AMD graphics cards, CUDA Miner for Nvidia cards, Bitcoin Miner Machine for any ASIC Miner, and even Ufasoft Miner so you can mine Bitcoins with your CPU!
Not only does Bitcoin Miner Machine support all of these different Bitcoin miners, it also supports using multiple miners at the same time! With Bitcoin Miner Machine you can maximize your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profits all in one simple place! After your miners are configured, you can even setup "Autostart mining" that will let you start mining for Bitcoins as soon as the program opens!
To use Bitcoin Miner Machine download the latest version from the link above, open it and extract the archive to anywhere on your PC (we recommend your Desktop so you can easily access it), then double click the Bitcoin Miner Machine executable to open the interface.
Once Bitcoin Miner Machine is up and running, simply choose a mining pool (we recommend using Slush's pool, to receive the most Bitcoins), setup your login details and hit "Start Mining!" to begin earning those sweet Bitcoins!
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:36 am

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Title: Re: Bitcoin mining.
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Crypto Mining the MOST PROFITABLE COIN |19:46
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:38 am
12 Best Mining Pools to Join (List and Review 2020)
Are you thinking of mining BitCoin yourself? There is hardly any better way to do that than join the best BitCoin pool operating nowadays. It is a great way to try crypto mining anytime using hardware possessed by a person. Every user can join an active pool and get profits from mining depending on hashing power produced. You will agree that group mining may be much less rewarding for a user, but it is important to remember that the number of blocks mined and the frequency of successful operations are bigger, so there are high chances to get regular payouts mining with others. Look: this article will tell you about 12 best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools to consider which platform is worth your investment and time.
What is a Bitcoin Pool?
A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool is a protocol accessed by a group of miners who put their effort simultaneously to find a block and then share reward among all the participants in accordance with the hashing power contributed. Every mining pool has an owner whose power is concentrated on getting a certain block while other miners increase this power adding their own resources to this protocol and help this pool owner to achieve the goal.
How do Mining Pools Work.
Mining pools perform roles of a coordinator since their main tasks and activities look as follows:
Taking hashes provided by pool members. Searching for a block to mine. Recording the amount of work done of every participant. Rewarding participants in proportion to the contribution made.
To start mining in the pool, a person should select one, join it and ask for an assignment. To be able to do that, it is necessary to create a wallet to get payments and obtain Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software. Every work performed is paid, but miners usually get cryptocurrency for it instead of blocks or their pieces. The main question asked by novice pool miners is how to get paid for this job. In fact, there are several payout schemes used by pools nowadays, but most of them are usually made based on shares used by miners. However, there are pools, where funds are processed directly to the wallets of miners on request.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools 2019.
Nowadays, there are over 20 Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools operating on the planet, but the most interesting fact that 81% of the total amount of Bitcoin mined is done in China. The reason for that is cheap electricity, first of all, since you can get enough hashing power only if the facility used is powerful enough and is connected to electricity. Consequently, most of the best and largest pools for mining coins are located in China. However, they can be accessed from any corner of the world since servers for mining are spread on all continents. Other huge producers of hashing power are Georgia, Iceland, the US, the Czech Republic, and others. Each of these countries has at least one reputable mining company which can serve as a pool for miners. Now it is time to look closer at the leading mining pools and find out what makes them so great for users.
Website: https://antpool.com/ Supported coins: BTC, BCH, LTC, ETH, ETC, ZAC, DASH, SCC, XMC, BTM Fees: PPLNS with 0% fee, PPS+ with 2.5% and Solo - 1% Demo account: no Mobile app: yes Features:
Convenient management; Transparent earnings; Prompt notice; Stable 24/7 service.
AntPool is the second largest pool for mining coins operated by Bitmain Technologies company. The last one is a leading Bitcoin hardware producer which has opened its mining facilities in China and now mines 11% of all blocks. Founded in 2014, it has been successfully operating for over 5 years maintaining over 2,000 servers for this purpose.
Every user can create an account on the website and download software to be used on special mining equipment. There is a dashboard to follow the earnings and a possibility to monitor hashrate (by minute, hour or day). Fees are quite acceptable and can be of two types: PPLNS with 0% fee, PPS+ with 2.5% and Solo - 1%.
The mining pool is known for its security options including 2FA, email alerts, and wallet locks.
Slush Pool.
Website: https://slushpool.com/ Supported coins: Bitcoin, ZCash Fees: 2% Demo account: yes Mobile app: yes Features:
High accessibility; Stability in payments; Actively developed and improved.
Slush Pool is the oldest and one of the most profitable mining pools launched in 2010 in Prague. Its founder has created a concept of pool mining and now this pool produces over 13% of the total hashing power. Nowadays it has over 200 thousand active workers and a hashrate of 4.64 Eh/s.
It is a technologically advanced pool though it is very easy to set it up. It has powerful servers distributed all around the globe for easy access while any questions arising can be solved by a multilingual customer support team.
The account creating process is simple and fast. However, it is necessary to pass through the verification process too. Users should also provide a Bitcoin or ZCash address to get regular payouts. There are two types of fees paid by miners: a fixed fee of 2% and one paid by miners with the withdrawal threshold of less than 0.01 BTC. There is a fixed fee of 0.0001 BTC then.
This merged mining pool is great for beginners not only thanks to a simple and user-friendly interface but also a demo version provided. A mobile app will help miners to follow their progress in any corner of the world.
Website: https://www.f2pool.com/ Supported coins: 40 Fees: 4% Demo account: no Mobile app: no Features:
Accessible and affordable; Advanced technology; Multiple cryptocurrencies supported; All the transaction fees are paid by the pool.
F2Pool is a mining pool opened in China in 2013. It supports 40 coins and uses the Stratum mining protocol. Its network share is over 13% while the current hashrate is 10,391 PH/s. The servers of the company are located not only in China but also the EU and the US. The website is translated into 4 languages and is easy to use.
The registration process does not differ from creating accounts on other websites, however, an active mobile phone is required too. It is necessary to fill out a Captcha and verify the identity via text message.
The mining process begins with the download and setup of mining software to the hardware prepared. There is a special app to use for mining via F2Pool too.
The pool offers several most popular payout methods including PPS, PROP, Score, PPLNS and others. Minimum withdrawal is estimated at 0.005 BTC, 0.02 LTC, 0.1 ZEC or 0.1 ETH. The commission of the pool is 4% on average.
Website: https://pool.btc.com/ Supported coins: 10 Fees: 1.5% Demo account: no Mobile app: yes Features:
Low fees; Transparency; Owns its wallet; Established big pool.
BTC.com pool was opened in 2016 being a creation of Bitmain Technologies company and located in China. The website works on the basis of the stratum mining protocol and VarDiff. It is one of the pools which is in constant search of alternative solutions to mining so it is not surprising that it features new algorithms for mining improvement. Moreover, miners are provided with tracking apps to follow their earnings.
The website of the pool is available in Chinese and English. The payment method preferred is PPS and the fee charged is 1.5%. The minimum threshold for withdrawal is 0.001BTC and it usually takes about 2 hours to deliver funds to their owner. The pool generates over 6% of the total hashrate, though Bitmain company has a bit controversial reputation.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:38 am

Best Coins To Mine In 2020|11:47
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:39 am

How much I made in 8 days - easiest cryptocurrency to mine on laptop|20:00
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:39 am
BW Pool.
Website: https://www.bwpool.net/pool/ Supported coins: BTC, ETH, LTC, ETC, UB, DASH Fees: from 0% to 4.5% Demo account: no Mobile app: no Features:
High security level; Efficient; Round the clock revenue; Low fee rate.
BW Pool was founded in 2014 and has multiple functions in addition to being a mining pool. It has a wallet to store coins and can be used for purchasing and selling coins. More than 12 thousand blocks have been mined in this pool for the time of its existence. The website of this pool is available in 3 languages.
Mining pool minimum payouts look as follows 0.005 BTC, 0.01 LTC, 0.1 ETH, and 0.1 ETC. Transaction fees differ but are about 0.002-0.003 coins withdrawn. Pool fees range from 0% for SC to 4.5% for ETC. The current hashrate of the pool is over 168 PH/s.
Bixin.
Website: https://bixin.com/ Supported coins: BTC Fees: 4+2% Demo account: no Mobile app: yes Features:
Mobile access for Android and iOS; Only BTC mining; Multiple additional functions.
Bixin is a mining pool established by the Chinese company Bit Star Technology Limited. It was founded in 2014 and offers not only mining services but also can be used as a wallet and trading platform.
This pool targets the Chinese market first of all. The website has an English version too, but both mobile apps are only in Chinese.
The hashrate of the pool is about 1EH/s. The service supports CYN fiat currency which can be deposited to buy Bitcoin. The mining commission is 4% for mining and 2% for a transaction.
Bitfury.
Website: https://bitfury.com/ Supported coins: BTC, LTC, ETH Fees: no Demo account: no Mobile app: no Features:
Works on the equipment developed by the company only; The largest pool outside China; It is a private mining pool.
Bitfury is a leading blockchain technology company that develops both software and hardware solutions. Its network share is about 4% and the current hashing power about 3,214 PH/s. It takes the ninth position in the global rating and is located in Georgia. The main benefit of this mining pool is no fees. However, it is a private mining pool that allows mining Bitcoin (about 11% of all BITcoins are mined here) and other coins.
The company was founded in 2011 and in several years began to develop its own ASIC equipment for mining. The most famous hardware for miners is Bitfury Tardis known for its unmatched performance and a user-friendly list of features. When it comes to the reward transaction commission, it is over 36%. Payouts are performed in several ways offering miners to withdraw funds immediately after they receive them.
ViaBTC Pool.
Website: https://pool.viabtc.com/?lang=en_US Supported coins: BTC, BCH, BSV, LTC, ETH, ETC, DASH, ZEC, XMR, DCR, NMC, SYS, ELA Fees: 1% - 4% Demo account: no Mobile app: yes Features:
Security and stability; Transparency; Low fees and several payout methods; Multiple cryptocurrencies supported.
ViaBTC aims at providing the best mining services always developing and updating its software and hardware. It serves users from over 130 countries and offers to get a wallet which can be accessed from the mobile device as well. It is possible to join the pool by registering on the platform. It is enough to provide an email and a password to sign-up. It is possible to authorize the account to get a wider functionality range.
There three payment methods available on ViaBTC - PPS+(default), PPLNS, and SOLO. The fee depends on the method chosen: it is 4% for PPS+, 2% for PPLNS and 1% for SOLO. Moreover, the greater the difficulty, the higher earnings are received by miners. The last ones can check the earnings history and set up automatic withdrawal function if they want too.
The minimum withdrawal amount depends on the currency and is 0.01 BTC, 1 DOGE, or 0.001 LTC, for example.
CkPool.
Website: http://ckpool.org/ Supported coins: BTC Fees: 0.9% Demo account: no Mobile app: no Features:
Simple sign-up and start; Low fees; Not user-friendly website interface.
CKPool has been operating for a year only but can boast mining 7 large blocks already. It is also known as Kano.is pool which offers pool mining and solo mining. When it comes to solo mining, the platform gives 99% of the value of the block found to the miner and takes only a 1% fee for that. Pool mining works in accordance with the PPLNS model and charges a 0.9% fee. The reward is paid to the miners only after 120 confirmations about the block maturity.
The platform has no payout thresholds but with too low hashing power and reward under 0.0001BTC, nothing is paid out.
To start mining in the pool, it is enough to register an account on the website. It is possible to set up 2FA for higher security. The pool allows mining only Bitcoin and its currency hashrate is 1.71 PH/s.
DPOOL.
Website: https://www.dpool.top/ Supported coins: BTC, ETH, ETC, DCR, ZEC, BCH, BSV, DCA, ETP, SERO Fees: from 1% to 3% Demo account: no Mobile app: yes Features:
Absolute safety; Full-time customer service; Intelligent monitoring; Mobile access.
DPOOL is a mining pool established at the beginning of 2018 in China. Nowadays, it is one of the largest pools which mine about 4% of all the world's blocks. The platform has been available only in Chinese for a long time and it is evidence that it is widely spread in the Chinese market, first of all. Recently, English and Russian languages were added too. The number of cryptocurrencies supported has increased greatly too.
The payment method and fee depend on the coin mined. The biggest number of coins provide payments via the FPPS method with the fee ranging from 1% to 3%. Mining of ETC and SERO coins is paid via the PPLNS payment method with a fee of 1% and 3% respectively. The minimum withdrawal amounts also differ from coin to coin, but it is 0.001 BTC, LTC, BCH, and others. The pool has a mining guide for beginners and a user-friendly interface which is easy to navigate.
Website: https://www.poolin.com/ Supported coins: BTC, BCH, BSV, ZEC, LTC, ETN, DCR, DASH, XMR. Fees: 2% - 4% Demo account: no Mobile app: yes Features:
High earnings; Security and stability; Professional service; Multicurrency mining.
One large pool for mining cryptocurrency is PoolIN. With the hashrate of over 10,000 PH/s and the network share of over 15%, it is started by the founder of BTC.com in 2017. It supports quite a big number of coins to mine and offers multiple tools to increase profits which are quite high. There are three payment methods supported: PPS for most of the coins, FPPS for BitCoin, and PPLNS for Electronium. Pool commission ranges from 2% to 4% while the minimum payout threshold is different for every coin (for example, 0.001 BTC, 0.01 BCH, 0.005 DASH etc.).
The website offers a calculator to count profit from pool mining by adjusting certain settings and special software developed by the company to save on traffic, synchronize work of several miners, and create additional accounts for every device. There is also a mobile app offering similar functionality for miner comfort. To start mining on the platform, it is necessary to register an account, create a sub-account, choose a coin to mine, and a wallet address to get payouts.
BitcoinRussia.
Website: https://bitcoin-russia.ru/ Supported coins: BTC Fees: no Demo account: no Mobile app: no Features:
Lack of transparency; Regular payouts.
This cryptocurrency mining pool aimed at miners from the countries of former CIS was opened in 2017. There is not much information about it, but we can surely say that the facilities of this pool are located in Russia. To start mining in this pool, it is necessary to connect a miner to the Stratum interface and add a payout address instead of login.
All the payouts are made using the PPS method and nowadays more than 3,000 payouts have been made for less than two years. The pool allows mining only Bitcoin and a payout threshold is 0.05BTC. It is possible to count the future income received from mining on the website too.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:40 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:40 am

CPU MINING 2020 - Who's #1?|11:00
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:41 am
How to Choose a Right Pool to Join.
Since there are several mining pools where it is possible to get rewards for blocks found, it is necessary to select one to join and avoid mistakes. Therefore, it is necessary to consider several factors before this choice is made.
Reputation Most of the pools listed in this article have already attracted a certain number of miners who can express their attitude to the mining process there. In fact, some of them do have years of experience and should be transparent enough to provide information about the blocks found, current hashrate, equipment used to such popular websites as btc.com, for example. A lack of information can prevent miners from joining the pool. Moreover, it would be useful to browse forums, discussions and reviews of other miners regarding the pool you want to join too.
Fees It is natural that the higher fee a pool takes, the smaller reward will be received by a miner. Therefore, this aspect must be considered very attentively since in addition to the pool fee there might be some hidden commissions for transactions, network fees etc. Sometimes, fees can take the third part of miner income and the final reward delivered to the wallet turns out to be very low. The standard industry fee ranges between 1-2%.
Hashrate One more key to the regular rewards is a high hashrate of the pool since the more powerful equipment there is, the more blocks will be found. That is why it is better to become a member of the team with a big hashrate and contribute to it with your own hashing power.
Location of servers It is very important to broadcast information about finding a new block as fast as possible, so the closer to servers you are and the better Internet connection you have, the better.
Payout There are several payout methods offered by mining pools. Some of them feature higher fees, the others offer reasonable prices. However, despite being a minor factor for the choice of the pool, it is necessary to find out how regular payouts are, when they happen, and what payout thresholds there are.
Pros & Cons of Pools.
Many people ask questions 'is it worth mining cryptocurrency?', 'how to get crypto with minimum investment?', 'what to choose: solo or pool mining?'. It is not surprising to hear that due to the volatility of cryptocurrency. At the same time, why do so many people obtain equipment and start mining if it was not profitable for them? In fact, there are two ways to mine cryptocurrency: do that alone by getting powerful and expensive equipment or join mining pools with the cheaper equipment but share the reward received with other miners and the pool. Since this article is devoted to pool mining, let's consider what pros and cons this way of mining has.
The main benefits of mining in the pool look as follows:
The income you get is regular and steadier; Easy start: it is enough to register on the website and get special software; Lower investment: you do not need to get the biggest hashrate to get profits; Low fees; Many additional features and use of tools to improve mining results; Less space required: no need to build large facilities; Responsibility of the pool for software and hardware used: no need to maintain that alone.
At the same time, pool mining can have some negative features including:
A necessity to trust others to handle your money; Smaller expected earnings because of sharing with others; Pool mining can face interruptions in work caused by DOS attacks and other downtimes; Miner's power works not only on his own rewards but also earnings received by others: sharing is a must; Leads to centralization since pool offers to miners are very similar; The number of people actually running a fully validated Bitcoin node has decreased greatly.
Every person who starts mining cryptocurrency wishes to get a block as fast as possible, but unfortunately, only every third miner gets a block within the first year of mining. Therefore, it is better to get regular earnings in small parts than to wait for the best payout for years. Pool mining is a great solution for people who are interested in getting income from mining on a regular basis. Naturally, these rewards are much smaller than ones for a block found, but it is possible to save on equipment and join the pool easily without taking any responsibility.
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:41 am

How To CPU Mine Monero RandomX on Intel and AMD CPUs - Profitability - BEST CPUs - Best Miners|19:33
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:42 am
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There are only 21millions bitcoins, out of this 84.681% is mined (writing time) and 3,216,975.0 bitcoins still left to be mined. There are total 17,783,025 in existence and everyday 1,800 new bitcoins mined per day. These records changes every 10 minutes.
Now you all are thinking that where this all bitcoins come? Does it mine from the actual mining process? Like we mine gold and another fiat? The answer is no. the term used for bitcoin generation is called Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in the digital means.
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Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is technically defined as having your computer find a number that is difficult to find and increasingly difficult to find. When it comes to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), many people think of crypto money, which is widely used. However, this is not the only purpose of mining.
Bitcoin or crypto money mining also performs the task of maintaining the blockchain through computers called miners. To summarize briefly, the co.
As it is known, Bitcoin is a digital currency that has gained tremendous momentum in the last few years. You can buy and sell bitcoin from various websites and you can also do Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) yourself.
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Bitcoins, which are not production centers, have a dispersed network similar to Bittorent networks. Payments realized within the network reach the desired destination instantly so that the address from which the shipment goes and where it goes is not understood but remains registered. Bitcoin is easy to use and is among the most preferred investment instruments of recent times.
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Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitable Nowadays?
As with every investment, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is made for profit. The fact that it can be done anywhere with the Internet, electricity and processing power also creates different profit margins in different parts of the world.
The difficulty in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) at market value determines whether it is profit or loss. When it first emerged, it was easy to dig and obtain because of its very little difficu.
How Much Bitcoin Can You Earn in a Day?
Multiple methods for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) or other sub-coins; methods also include sub-methods. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a type of mining that should be planned at least every three to six months, not daily or monthly. Although Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is difficult, the high market price leads to a profitable business model in the long run. Nevertheless, the amount of bitcoin that can be dug per day is important in.
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How do you make Bitcoin by mining?
When you buy GH/S on your account, your Hash Power will be active for a lifetime without a contract, and will generate bitcoin every hour. We divide it into 3 parts - the first part is used to cover user withdrawals, the second part is used to finance our Mining Hardware and the third part is used to expand our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operations (currently 1.124862 PH/S or 0.0000000101% of the total strength of the bitcoin network). We make a profit and assume the full risk of our business and in return you keep your money with us, we give you a risk-free fixed rate of return.
There is a huge range of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software options available--and they can vary considerably in their ease-of-use and functionality.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Image: Shutterstock.
In the last six months, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability has increased by more than 30% as the cryptocurrency's price soared to heights not seen since 2017.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:42 am

#025 Is CPU mining still profitable going into 2021?|6:46
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:53 am
If you're looking to get involved in the action, then you are going to need three things: a Bitcoin wallet; suitable mining hardware (such as a powerful CPU, GPU, or ASIC); and the mining software that's used to bring everything together.
Did you know?
Cryptocurrency miners can often be flagged as malware by some antiviruses, but this is generally not accurate when downloading from the original source.
For a detailed primer, read What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
It is extremely efficient and uses minimal CPU and RAM, and has heavily threaded code design to maximize multi-threaded CPU architectures. It supports GPU, FPGA, and ASIC mining--with automatic support for many of the most popular Bitcoin ASIC miners, including Bitmain's Antminer.
Unlike most of the other miners on this list, you'll need to compile CGMiner yourself using the source with MinGW. Detailed instructions are included describing how to do this, but it is a somewhat lengthy process that will take around 20 minutes.
If you're a newer miner, MultiMiner features a simple Getting Started wizard that will help you select an engine and coin, and select a pool to mine with. It will also install the latest version of BFGMiner automatically.
How to mine bitcoin and other cryptocurrencies.
Going for virtual gold.
Mining is the process of using a computer to perform complex calculations on blocks of data which maintain the Bitcoin network. Miners are rewarded for their efforts with a certain amount of Bitcoin cryptocurrencies.
Bitcoin (BTC) is fast becoming the province of people using specialized ASIC (application-specific integrated circuit) devices, although if you have one or more powerful graphics cards you may still be able to generate a small profit by assembling your own mining device. You'll learn more about this in the following steps.
The actual profit you make will depend on a number of factors. The first is your 'hash rate' - in other words, the actual processing power of your machine. Computers designed for mining, or 'rigs' as they're commonly known, require large amounts of electricity, which will increase running costs. The complexity of mining also rises over time.
This is what you need to do if you want to mine Ethereum instead.
The Bitcoin itself is a very volatile virtual currency and while it has recently made huge gains, it may also plummet in value. Bear this in mind if you plan to hold onto any BTC you mine rather than selling immediately. If you want a rough idea of how much you can make from mining, use one of the many online profitability calculators (for example, the one at 99 Bitcoins ).
While you can technically try to mine Bitcoin on your own, it's very unlikely that your rig will singlehandedly solve the complex sums necessary to receive a reward. Instead, you'll need to join a mining pool. As the name suggests, this is a pool of multiple machines connected together, engaged in a collaborative mining effort. The Bitcoin rewards reaped are shared amongst everyone who contributed processing power to the effort.
However, note that the way in which profits are shared can vary from pool to pool. You can learn more about pooled mining on the Bitcoin Wiki .
Read our guide on acquiring and buy bitcoin instead as well as a list of the best bitcoin exchanges.
1. Choose your miner.
One easy - but not cheap - way to get started with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is to buy an ASIC device such as the AntMiner S9. These devices have been specifically designed for mining Bitcoins which means they'll generally give you the greatest return on your investment.
However, as mentioned, these ASIC devices are expensive. The S9 for instance currently retails for around €2,100 (about £1,860, $2,490). You will usually need to buy a separate power supply unit which will set you back something like another €300 (£265, $360). These devices are usually designed specifically to mine Bitcoin and will not function well if you try to use them to mine other cryptocurrencies (if, say, Bitcoin should happen to fall drastically in value).
Alternatively you can build your own Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig. While these aren't as efficient in terms of power and hash rate, they require less upfront expense and can mine other currencies besides BTC. In the simplest terms these are computers with multiple powerful graphics cards installed. These GPUs might be primarily designed to render complex graphics when playing games, but they also lend themselves well to coping with the complex calculations involved in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
To get started, you'll need to purchase a case for the machine. Most of these are a simple metal frame to allow heat to dissipate easily. You'll then need to choose a motherboard and graphics cards for mining, such as the AMD Radeon RX 580.
If you need some more advice, see our guides on choosing the best mining GPU and best mining motherboards . You'll need to assemble the machine and install the OS and mining software yourself, so you should only go down this route if you are tech-savvy and familiar with computers.
If neither of these options appeals, you can rent hash power from cloud mining companies. These firms have dedicated data centers devoted to mining Bitcoins. As they are centralized they can buy machines in bulk and use efficient methods to generate electricity.
Most companies will offer you a fixed amount of Gigahash Seconds (GH/s) of mining power for a fee. The advantage of this approach is that you don't need to buy any expensive hardware. The fees for cloud mining will vary, however, and another point to be wary of is scammers posing as cloud mining outfits. See the Bitcoin Wiki for a list of reputable cloud mining companies.
2. Set up your Bitcoin wallet.
Once you've made the decision that mining is right for you, you'll also need to set up a Bitcoin wallet to store your profits. If you're mining as an investment and don't plan on spending any of your coins soon, consider using a website like Bitcoin Paper Wallet Generator to create a 'paper' wallet. Make a note of the 'public' address which you can use to receive payments.
You can check the balance of your Bitcoin wallet safely at any time by visiting Blockchain.info and entering your payment address into the search bar at the top-right. Don't let anyone see your private keys as anyone with access to your paper wallet can control your virtual cash.
If you plan to regularly cash out your BTC or make payments, consider using a software wallet instead. The lightweight Electrum wallet is available for all major desktop operating systems and Android. When you create your wallet, Electrum will generate a 'seed' of a dozen random words to use as a private key. This means you can restore your Bitcoin wallet if anything happens to your computer.
If you use a software wallet like Electrum, try to do it on a machine that isn't connected to the internet so your BTC can't be hacked. This is known as 'cold storage'. The Electrum website has instructions for setting up a 'watching' wallet for day-to-day use which can show your balance but cannot make payments itself. Or for full instructions on setting up secure offline storage, see our article on how to create a secure cold storage Bitcoin wallet using Bitkey .
3. Pick a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool.
The next stage is to sign up to a pool; you can solo mine, but you need some serious hardware to make it worthwhile. You can find a list of pools on the Bitcoin wiki . We'll walk you through the process of signing up for Slush's Pool because it's one we've used a lot, but the same procedure can be used for any of the major pools.
4. Jump in!
Head over to the Slush Pool website and click on 'Sign up here' at the top-right. On the registration page choose a username, then enter your email address and password. The Slush Pool website will send you a confirmation email. Click the link to validate your email address. You'll see that a 'worker' has been created for you, so you can begin mining. Although it's not compulsory, you should ideally have one worker per device. Visit Slush Pool workers at any time to view and create workers.
5. Funded mining.
You need to tell your mining pool where and when to send the funds from your mining exploits. On the Slush Pool website you can do this by clicking 'Settings' at the top-right, then click 'Bitcoin' on the left. Choose 'Payouts' then click the 'New Wallet' button. Paste in your public address for Bitcoin payouts here. If you're using a paper wallet this should be clearly marked. In Electrum you can view your current receiving address by clicking on the 'Receive' tab. Click 'Submit' when you're done.
Some miners also allow you to choose the payout threshold - in other words how many BTC you need to have mined before the Pool sends funds to your wallet. This is important as while it's risky to leave large amounts of BTC in an online wallet, transaction fees for sending BTC across the network are currently very high, so you could end up paying a lot for multiple smaller payments. Choose freely and wisely.
6. Pool safety.
Mining pools are a popular target for hackers for obvious reasons. To make sure no one can potentially pilfer your Bitcoins, first check that your pool uses SSL. This means your connection is secure - in most web browsers you'll see a padlock icon (in the address bar) if this is the case.
Certain mining pools such as Slush Pool also allow you to secure access to your account by using two-factor authentication. This introduces a second step for a successful login, and is therefore another hurdle to prevent hackers from breaking into your account. In order to use this you'll need access to a mobile device and an app such as Google Authenticator or FreeOTP.
7. Diving in the deep end of the mine with GUIMiner.
Now you need to download the mining software to your PC. You have a few options here, but to get started we'd recommend using GUIMiner , if only because it has such a straightforward interface. It comes as a self-extracting archive and runs straight from the folder to which it's extracted.
Launch GUIMiner and select 'Slush's pool' from the Server menu. Type in the name of the worker that was created when you registered your account - it'll be [username].worker1 - and enter the password for the worker. Select your graphics card from the Device menu and then hit the 'Start mining' button to get going.
GUIMiner will now communicate with the servers to get shares for your machine to work with. You'll see your hash rate at the bottom right and the current state of your work in the bottom bar. You can also see the console (useful if you have connection problems) or a summary page (great if you've got multiple cards) via the View menu.
If you're running a mining rig instead of using specialized hardware, you can make a few small tweaks to make sure its running at peak efficiency. To do that, you need to do a quick search to see what the recommend flags are for your graphics card. Take a look at the Mining hardware comparison webpage and search for your card in the table.
The information you want from this table is under the Notes column. This is where you'll find the switches that push your graphics card that little bit harder, making them better at Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
The important ones are those relating to the workload (-w) and whether to use vectors (-v). Enter these values into the Extra Flags block in GUIMiner, stop mining and then restart it.
8. Precision tuning.
This should give your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) PC's performance a nice boost, but to really get the most from your card you need to turn your hand to a little overclocking. We recommend grabbing EVGA's Precision X utility , although you can get quite far using the overclocking tools that are part of AMD's Catalyst drivers.
9. Beat the heat.
Whether you're using a specialized ASIC Miner or your own rig, the device is going to run very hot when trying to mine BTC for you. Therefore, be sure to place your mining hardware somewhere with good ventilation so the heat can dissipate easily. Generally speaking, the cooler your mining machine, the more efficiently it will perform. Make sure to factor the costs of air conditioning and/or a heat pump into your mining calculations to be certain you're still running a profitable enterprise. If you live somewhere cold, you could follow in the footsteps of smart Siberians and use the excess heat from mining as a 'data furnace' to heat your home.
10. Keep mining profitable.
As research continues into specialist mining equipment and the difficulty of mining increases, the highest profits from mining are usually earned by data centers based in locations where energy is inexpensive such as China. As a hobbyist miner, you can maximize your profits by following their example by using ASIC miners and keeping electricity costs down.
While relocating to China may not be on the cards, you can increase the efficiency of your rig by using an efficient PSU. You can get help with this in the Pools section of the BitcoinTalk forums .
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:53 am

4X 3900X Random X Monero Miner Beast 54000 H/s CPU Mining Build \u0026 Parts [Miner Showcase #1] Crypto|6:26
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 14, 2021, 10:55 am

Mining Crypto With a CPU - Awesome Miner Tutorial|15:19
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:00 am
An alternative way to get one over on the 'big bully' miners is to use renewable energy to power your mining machine - for example by installing solar panels on your property.
If you do this, remember that the advertised wattage for devices is usually the optimal amount you'll receive under ideal conditions. Solar panels in particular are affected not just by the amount of sunlight they receive, but by surface area, the angle at which they're placed, and the direction in which they're facing. Speak to a qualified installer, fully explain your needs, and get things right.
To get started, consider using an electricity usage monitor to measure the energy consumption of your mining device in kWh (kilowatt hours). These are very inexpensive and available from any hardware store.
Remember that the reward for mining Bitcoin halves every 210,000 blocks. You can find a more detailed explanation of this on the Bitcoin Wiki , but essentially, this means mining becomes less profitable over time, unless you can increase your hash rate - or the value of Bitcoin increases.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:01 am

12 Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software for Windows PC.
August 10, 2018 By Madhuparna.
Every person in this world wants to earn profit these days and the means of earning could be anything from starting a business to investing in stocks. Investment is another avenue where people take chances by putting their money on commodities, and when the price of the commodity rises, they earn profits.
Cryptocurrency is one such avenue that is fast rising in popularity by climbing the currency charts and conquering the exchange rate. While there are many cryptocurrencies these days, Bitcoin is hands down the most popular of all. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is another aspect that helps us earn some good profits if done properly.
It is about authenticating the blocks on the cryptocurrency blockchain that becomes a reality by working out complex algorithms and problems. Let's see more about the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is useful:
for solo miners - the software can link your Bitcoin miner to the blockchain. for those mining with a pool - the software links you to the mining pool. for cloud miners - no mining software is required.
Importance of Using a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software.
The primary aim of the software is to convey the work of the mining hardware to the remaining Bitcoin network and to collect the completed work from other miners on the network. The software keeps a check on this activity (input and output) of the miner and projects the statistics at the same time that includes the fan speed, speed of the miner, temperature, and the hash rate.
Before you select the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software of your choice, remember a few things for successful Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) experience:
Select the right software Find the best software matching your requirements. Fix up a way to receive the profits generated from mining. Make sure if you want to just mine Bitcoins or other alternatives too? Double check the hardware pieces that you possess. Analyse your skills of using command prompts that help run programs, or the graphical user interface. Begin solving algorithms.
Keeping these things in mind, we have created a list of the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software that can help you choose the one that suits you the most.
This software is perfect for the beginners and for Windows 10 platform. The software is based on graphical user interface (GUI) that comes with an easy to access front-end. You can also use it with Linux and MacOS, but that will require additional software. The software is specially designed for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on Windows 10.
Since the software is based on GUI, it also comes with some advanced features. What's interesting is its ease of use. Once you have installed the software successfully, MultiMiner guides on how to connect to a pool in the right manner.
This also helps you by guiding you on the right time to enter each piece of information related to the mining pool you would be using. Bonus - all the possible complex terms are explained in an easy to understand manner.
Once you are done with the setup, MultiMiner runs a scan for the hardware. The scan pulls up details of each possible device like the estimated profits you can generate, and more. The software can also help you connect to several pools at once. It can also make the device automatically mine the most profitable coin at any time or look for those that offer the lowest complexity.
The software is available for free, but you can choose to share your 1% of mining profits directly with the developer. This is a donation which is as per your will and so, you can disable the option after sharing the profits for a week or for a month.
MinePeon.
This software focuses on stability and performance with its lean purpose build mining tool. The goal here is to configure the device and forget. All you need is to know how to install it, configure it and then let it do it's work endlessly for a day without any human dealings.
Some of the features of MinePeon are:
Lean - chances are that anything that's not directly associated with mining will not be included. Secure - it's designed as an Embedded OS with focus on stability. The packages offered are completely tested and available in latest stable versions. Fast - The software won't detect a CPU cycle taken away from mining. It's still not fully known as to how many GHS/s you can connect to a Raspberry PI without the software losing shares. Latest - the software is up-to-date with the latest packages and practices. Easy to Hack - If you have a better grasp on Linux, you can do just about anything with it. Easy to Mine - It's user-friendly and perfect for beginners. A newbie can easily set it up and start mining in matter of minutes.
It's an open source software that is, it's free to download and all the sources codes are easily available online. It would, however, need WinDisk32Imager to run efficiently.
Bitcoin miner.
This software is compatible with Windows 10 and Windows 8.1. It comes with a user-friendly interface with features like power saving mode, quick share submission, and mining pool support.
One of its best feature is its reports feature since this helps you to understand if mining is profitable for you or not. Bitcoin Miner is available in the latest version - 1.2.7.0.
If you are an advanced computer user, then CGMiner is just the right tool for you. It is Linux based, coded entirely in programming language C, based on the previous popular mining software, CPUMiner and one of the most commonly used Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software. Which means that it works with nearly all operating systems.
It uses an easy to use command line interface and provides assistance to different mining pools and devices. The keyboard commands help change the settings easily for example, the fan speed and so on. But since, it does not use a GUI, it's best suited for advanced users.
It also allows you to use GPUs and CPUs with it. That being said, it can be a little complex to install on Windows 10 OS due to the anti-virus blockers and Windwos Defender.
It's almost similar to the CGMiner. However, the different lies in the fact that BFGMiner is developed to be used with ASICs (application specific integrated circuits) instead of supporting CPUs and GPUs. This makes it a perfect situation for mining all cryptocurrencies (including Bitcoin) that are not ASIC proof. It's equally ideal for currencies using SHA256 mining data.
It's compatible with operating systems such as, Windows, Mac and Linux. You can also customize the mining hardware that includes operating a remote interface, controlling fan speeds, and overclocking. It helps you to connect to several mining pools at a time and even ceases to connect to pools that are not reachable for any known reason. This not just helps save your electric bills but, will also save money when the tool cannot connect with a pool to generate revenue.
BFGMiner is not entirely text based like the CGMiner but, is definitely easy to use. The interface is intuitive and the hotkeys offer a fast and smooth experience while accessing certain functions. But, if you do not have much experience with command prompts, it's not for you.
BitMiner.
BitMiner is known to be using a certain mining pool that easily possess the same name. It's an easy to setup software that claims to make Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) uncomplicated with higher earnings.
Best of all, it's supported on all platforms such as, Windows, Mac OS, and Linux. Given that it uses its own pool for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), you All you need to do is to sign up for the pool and install the software, and there you go!
The software is complete free of cost however, you have to pay a 1% commission to the BitMiner pool for mining with them. That said, this is the lowest fee for the mining pool among all the software.
RPC Miner.
It's a remote pool miner client for Bitcoin, which is also known as puddinpop's miner named after the forum name of the author. It has four chief client binaries administered:
CPU miner 4way CPU miner OpenCL miner for ATI GPUs CUDA miner for Nvidia GPUs.
It's termed as an experimental and decentralized digital currency that allows prompt payments to anyone, anywhere in the world. You can mine Bitcoins or different other cryptocurrencies by generating and configuring automated methods and situations in the dedicated tool.
It's compatible with Mac OS 10.6 or higher platform. The 1.5 version of the software for Mac is can be downloaded for free from the official website. The software assimilates with the system settings to operate in the backdrop and improve the usage of resources.
It's known to use peer-to-peer technology to run without any central control that includes transaction management and money dispensation collectively through the network.
Cloud Mining Software for Bitcoin.
There are some mining software that are completely supported by cloud and not Windows, Mac or Linux. These can be easily accessed from anywhere in the world. Being on cloud, these software can work across platforms that makes them diverse. However, these software are also less safe than the usual software and that's only because they are based on cloud servers and are hence, more prone to security threats.
Hashflare.
It offers SHA-256 mining contracts and usually turn out to be far more profitable since the coins (SHA-256) can be conveniently mined even while the payouts are done in Bitcoins automatically. However, the user must buy at least 10GH/s.
It's touted to be the largest player for Bitcoins among the cloud mining software. It offers diverse services for example, provides three payment plans and all these three plans are fairly priced. That's not all, as it also offers Zcash mining contracts for the users.
Hashing24.
This software started with the mining process in 2012 for Bitcoin and other cryptocurrencies. Today, they have many services related to cryptocurrencies and cloud mining software is among them. Hashing24 operates from two locations that is, from Iceland and Georgia, and they are known to use latest ASIC chips produced by BitFury. This lets them bring forward the highest level of performance and efficiency possible.
So, start with your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) today and earn generous profits for your investments that you have always dreamt of.
This is another reliable software with great performance. EasyMiner also comes with an easy to use and easy navigate GUI that works great for the beginners as well. It allows you to change network settings, change the mining pool you are using, and even view your crypto wallets with just one click.
The software enters the "MoneyMaker" mode automatically the first time it's started and almost immediately creates a Litecoin wallet and starts mining with the help of your computer's CPU on a private pool. In addition to the fact that it goes well with CPUs and GPUs, EasyMiner is also capable of mining cryptos with the help of advanced hardware.
It controls the function of both CGMiner and CPUMiner concurrently which indicates that your CPU or GPU will emphasize on Litecoin and the ASIC will concentrate on Litecoin.
BTCMiner.
It's a free and open source Bitcoin Miner. It's intended for the ZTEX USB-FPGA modules 1.5. Some of the features of BTCMiner are as below:
It comes with the advanced feature of dynamic frequency scaling where the software automatically picks up the frequency that has the highest number of valid hashes. It also features Bitstream that is ready-to-use which means that it does not require Xilinx software or any license to mine.
That's not all, as it's also accompanied with FPGA boards consisting of a USB interface that assists in programming and communication.
I find passion in writing Tech articles around Windows PC and softwares.
Time Frame BTC Reward Revenue USD* Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00003275 $0.61 $0.16 $0.00 $0.45 Daily 0.00078595 $14.74 $3.90 $0.00 $10.84 Weekly 0.00550162 $103.15 $27.30 $0.00 $75.85 Monthly 0.0236 $442.07 $117.00 $0.00 $325.07 Annually 0.2869 $5,378.48 $1,423.50 $0.00 $3,954.98.
* Bitcoin Price at $18,748.80 USD.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty Bitcoin Block Reward Bitcoin Price 17,596,801,059,571.00 6.25 BTC $18,748.80 (BTC to USD) Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hashrate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Watts Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Cost Electricity Costs 110.00 TH/s 3,250 Watts $2,407.00 $0.05 per kWh.
A BTC mining difficulty of 17,596,801,059,571.00, a BTC mining hashrate of 110.00 TH/s consuming 3,250 watts of power at $0.05 per kWh, and a block reward of 6.25 BTC at $18,748.80 (BTC to USD).
After deducting mining power costs and mining fees, the final daily Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profit is $10.84 Bitcoin to USD .
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:02 am
Mine for Bitcoin with ANY Computer.
@ burningw0rds Mike Co.
Mining is a great way to enter the cryptocurrency ecosystem. However, Bitcoin/Litecoin is almost impossible to mine for the average user. It requires expensive equipment called ASICs that are made by a controversial, centralized company called Bitmain. These ASIC chips consume high amounts of electricity, and ASIC mining farms often use cheap & ecologically-destructive coal power. These centralized mining cartels mint the vast majority of new Bitcoin, and are responsible for contentious forks of Bitcoin in order to maintain a monopoly of the network.
I am not trying to cast a negative light on Bitcoin- I am highlighting how far we have come from Satoshi's (the mysterious creator of Bitcoin's) white paper that described a democratic mining system of "One CPU" as "one vote." Back in the early days of Bitcoin, any old laptop could mine hundreds of Bitcoin a week (worth millions of $ at today's value). In a way, this was utopian in the sense that anyone, anywhere could verify and support Bitcoin's network. However today, CPUs and even more powerful GPU's are worthless for mining on Bitcoin's network- which leaves all of the mining to one powerful mining company in China.
However, just because you do not own an expensive ASIC miner doesn't mean you can't "mine" with any average computer to ultimately obtain Bitcoin (using a regular CPU, GPU, and even a Hard-Drive).
First Option: Mine Monero with CPU.
Monero is a particularly interesting alternative to Bitcoin. Unlike Bitcoin where every transaction is public on a distributed ledger, Monero offers true anonymity. While being a philosophically contentious issue, I believe that anonymity could be useful for people living under dictatorial governments. The Dark Web browser of choice called Tor, was created by an agency of the U.S. Department of Defense for this reason. And while anonymous tools like Tor and Monero can be used by drug dealers and criminals, so can cold hard cash.
Monero has an interesting feature that allows CPU mining to always be competitive, no matter the size of its network. This feature seems to fulfill the original intention of Bitcoin for "One CPU, one vote." Therefore, it is possible to mine Monero on ANY computer. A user-friendly website that I have used to CPU mine Monero for the past year is called Minergate. Make an account, download the software, and turn on "Extended Mode." I prefer to turn off the "Smart Miner" and instead only mine XMR (Monero) as I believe it is the best coin they offer.
If you leave a spare core, you should have no problem doing most tasks on your computer while simultaneously earning passive mining income. It depends on your equipment, but if you have a decent CPU you can make a reasonable income as long as your computer is on and running. Every month or so, Withdraw your earnings to your favorite altcoin exchange and either a. Hodl your Monero or b. Sell for Bitcoin.
This past year I have continuously sold most of my earned Monero directly for Bitcoin. (I have actually missed out on greater gains with this method as Monero has gone to the moon, but I probably will continue this way)
Next Option: Mine Zcash/Eth with GPU.
This is slightly more restrictive, as not everyone has a suitable AMD or Nvidia Graphics Processor so I will not go into too much detail for this one.
I personally mine Zcash and sell every week for Bitcoin or other interesting cryptocurrencies. I prefer to use Suprnova pool. Minergate also offers GPU mining if you like their interface better. Here, Suprnova offers a detailed guide for how to get up and running. Zcash is another anonymous coin similar to Monero. * (Update: ASICs will now soon be available for Eth/ZCash, so GPU mining may soon become obsolete)
If you want to support Ethereum's network instead of Zcash, check out eth.suprnova.cc, although it is a slightly more involved involved process than Zcash.
Final Option: Mine Storj with Hard Drive.
An interesting idea that has come from Bitcoin, is to distribute file storage on the blockchain like Bitcoin/Ethereum does for computing power. As such, it is possible to use extra hard drive space to "mine" and host files on decentralized storage networks like Storj, Sia, and Filecoin. Filecoin looks to be the most exciting of the three, but unfortunately it is not live yet. Therefore, I mine Storj with my hard-drive. (Sia is legitimate as well, but very unprofitable at the moment as a host)
Apparently, Google is an investor in Storj, and while it has had growing pains, I am bullish on Storj going forward. On Mac it's extremely easy to set up Storj and start up, but it is a little more in-depth for Windows users:
Click "Rent Your Drive" and follow the steps to download.
First step after opening the app is to enter your ERC20 token address:
Get that by "Creating a New Wallet" on MyEtherWallet and following the instructions to copy your "0x" ethereum address like the one above.
Enter this address in Storj Step 1, then move on and choose a folder to host your rented HD space. Follow through the steps, and the default setup should work for most Mac users no problem.
If you are a Windows user, you need to do two extra things. 1. Sync your time clock with the nearest server, as described in 3.1 in this Storj guide. Next, you need to make sure you chose an Open Port, as described in 3.3.2 of that same guide.
It will take weeks to fill up all of your space, but a few GBs worth of rented space can still yield profits.
Helpful tip: also remember to make sure your computer doesn't go to Sleep, if you want to consistently mine.
While some of these mining processes may sound confusing and probably won't make you a millionaire, I think mining is a rewarding way to explore the crypto-ecosystem. While some people call Cryptocurrency a bubble, I believe it will one day become an important part of the world economy.
Furthermore, I think that a few dollars worth of Cryptocurrency today can grow into a lot more in the future. Whether you hold these CPU, GPU, and HD-mineable coins, or simply sell directly for Bitcoin on your favorite exchange, I believe that you will ultimately thank yourself later.
To read more about Bitcoin and its role in the global economy, check out my latest story here .
How To Mine Bitcoin On PC.
In this guide, we reveal the most up to date ways on how to mine Bitcoin with a PC.
Believe it or not, but there is still Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software, which enables users to earn Bitcoin using a personal computer from mining. Software like Cudo miner and Nicehash are of some of the latest Bitcoin miners to get started Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) with a PC.
However, we want to mention that mining Bitcoin on a personal computer is not the fastest way, yet it's still one of the popular ways to start earning Bitcoin.
You see, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has progressed into much faster computers called ASIC miners, which we talk about in our other guide, and they're designed for this exact purpose. Trying to compete with these more advanced miners on the same network is a huge no-no these days, so we're going to show a few different ways around this issue.
By the end of this guide, you'll be a pro at setting up your computer to not only mine Bitcoin but also other cryptocurrencies called altcoins. This way, you can earn the most from Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on your equipment. We'll also show a few decent solutions to keep your PC cool and run more efficiently.
Sign Up For Cudo Miner Here.
Things You Need To Get Started Mining On PC.
Before we begin learning how to mine Bitcoin on your PC, there a few things you need to check off the list to get started. This list is as follows:
Laptop Or Desktop- Just about any style of computer will work although gaming PCs that are equipped with a high-performance GPU are optimal but not mandatory. Any computer with a 1 GHz Processor minimum and 30 GB of free disk space for mining software and wallets should suffice. Gaming computers work best but aren't mandatory to start mining.
Operating System- Every computer has some sort of operating system in which the mining software will function on. Windows7/8/10(Win10 recommended), Linux, and Mac are all supported in this guide. Windows 10 works best for most applications and is easier to navigate for most new miners.
High-Speed Internet- Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) requires miners to be constantly connected to the internet to be able to update the blockchain. Truth be told, any decent internet connection will work for this purpose as Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) doesn't require lots of bandwidth. Having your PC plugged into the internet via CAT5 is optimal but not required.
Bitcoin Wallet- Ever miner needs a good wallet to store his/her hard-earned Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profits. For miners just getting started, I recommend downloading one of these free wallets listed below to ensure your coins stay safe and secure from hackers.
Wallet Downloads LIst:
Bread Wallet (Best Option for small amounts of Bitcoin) Jaxx Libert Wallet Hardware Wallet ( Recommended for securing large sums )
Mining Software- Mining requires computers to solve complicated math, which is nearly impossible without the use of specialized software to do so. These days newer software allows at-home computers to be able to participate with ease and maximize earnings by using profit switching methods. Keep reading to find out which ones are best to use these days.
Cool Location- Mining is a very repetitive task for computers and causes them to work under a constant load. This can cause your computer to run hotter than normal, so it's important that the device has access to fresh circulating air. This will ensure your computer mines Bitcoin efficiently and safely as heat can cause your computer to run slow.
Best Way To Mine Bitcoin On PC.
The best way to mine Bitcoin these days with a PC isn't actually traditional Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) like it was in 2009. These days the digital space has over 2000 other cryptocurrencies called altcoins. Some of the altcoins could be considered Bitcoins competitors as they are mined in the same fashion as Bitcoin(a.k.a the king).
The main difference between mining for Bitcoin and some of the other mineable altcoins is the fact that Altcoins are much easier to accumulate than Bitcoin these days. Meaning an at-home computer has better luck at mining and earning a profit by going the altcoin mining route.
The best part about this new software is they can scan your computer hardware and run tests to see which coin would be best to suit the computer.
Once the tests are finished, the software can begin mining the most profitable coin for the given specs of the PC hardware. Additionally, the software takes these coins and exchanges them for their current value in Bitcoin, which optimizes your mining profits far better than going the traditional Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) route.
Our selection of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software mentioned below is free to download, but please be advised there is a small dev fee for using it that is taken from mining profits. This is the only way the devs get paid and keeps them happy to continue working on future improvements. With that said, here is our list of recommended mining software.
How To Get Started Mining Bitcoin On PC.
To get started mining Bitcoin these days is a rather simple task. All you need to do is sign up using one of the three options below and follow their instructions posted on each mining software's main site.
Cudo Miner is the latest and greatest when it comes to mining software as it supports Windows, Mac, Linux and if that not enough, they even have their very own operating system for advanced users. Cudo Miner also has some of the hottest coins to mine for a profit with Grin and Beam at the forefront. To get started with Cudo Miner, use the link below and follow the step by step instructions on their main site.
Get started with Cudo Miner: Here.
Honey Miner is a close second best as it supports Windows and Mac only. One huge difference between Cudo and Honey Miner is the fees that Honey Miner charge for use are higher for low-end computers. So if your computer is only equipped with a CPU, this may not be the best route. To get started with Honey Miner, use the link below, and follow the instructions on their main site.
Nicehash is a long-time competitor of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software and was very popular during Bitcoin's great bull run of 2017. In fact, nicehash was probably the first mining software of its kind when it first released in 2014. However, they only support Windows, and with it being a marketplace to buy and sell hashpower, profits can be lower than with other software. Nonetheless, to get started with Nicehash, use the link below and follow their instruction on their main site.
PRO TIP: If your mining on your everyday computer, we strongly recommend using Cudo Miner , and it's paused when computers in use feature. This way, your computer is only mining when it's not in use, which can cause lag issues otherwise.
How Long Does It Take To Mine A Bitcoin On A PC.
In the inception days of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), early adopters reported claims as high as 50 Bitcoin per week using nothing more than an at-home computer. Over the years, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has progressed into much more power-hungry devices called ASIC's.
As more of these advanced miners deploy, the chances of mining a whole whopping 1 BTC become slimmer and slimmer. In fact, the last time we checked, it was somewhere around 3400 years before a laptop could accumulate a whole Bitcoin.
However, not all computers come equipped with the same hardware and with mining difficulty constantly adjusting it nearly impossible to know exactly how long it would take. The best way to get an idea is to start mining and see what your daily profits are and divide that number by one to calculate how many days.
Remember, everyone has to start somewhere, and have some Bitcoin in your wallet is better than having none. Mining is a great way to accumulate Bitcoin without having to buy it through exchanges which charge fees for doing so. The key to all this is to start small and get a feel for it before investing more money on hardware.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:02 am

Is CPU Mining WORTH IT?|12:28
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:03 am

Mining Monero/XMR dengan CPU Komputer biasa tanpa GPU|13:37
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:03 am
How To Mine Bitcoin On Pc Faster.
By now, you must be thinking, "good riddance, there has to be a way to speed things up," and in fact, there is for some users of this software.
If your computer has a GPU, then there are some ways you can optimize for better hashrate as for CPU only computers, there's not much you can do at this point.
You could, however, find more computers to download the software on to increase your performance or even better look into building a cheap mining rig with the help of our how-to guide.
Please note that the intel onboard graphics processor is unable to mine as only the higher-end GPU made for gaming will suffice for this trick. Check out our comprehensive guide of some of the best GPU used in today's mining to see if yours in on the list and get an idea of its true potential.
Overclocking is a way for miners to optimize their GPU for better mining performance. Softwares like Cudo Miner allow users to manged these overclock settings within the software, whereas some of the others do not.
Overclocking can significantly improve the speed at which the GPU can mine while at the same time lower the card's power consumption for maximum efficiency. If you need help with overclocking, please hop in our mining discord support channel, and we will be glad to assist you.
PC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Alternatives.
Mining Bitcoin on a PC may not be the most fruitful way to go about earning Bitcoin for those who are willing to invest more money. In fact, there are some alternative ways to rent or buy hash power for investors who wish not to maintain the mining hardware themselves. This is considered to be a lazy man/woman's way of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Please note that these ways in which we're about to show you how to mine Bitcoin without hardware are not guaranteed to provide the best returns on investment. It is likely that, in some cases, the return you will see will be marginal compared to owning and operating your own rig.
Nonetheless, these alternative methods have some advantages over actually operating your own hardware, like not having to deal with exhausting the heat that these rigs are known to emit.
Nicehash, as we stated earlier, is a marketplace for buying and selling hashpower. Miners offer to sell/rent their rigs hashpower through the use of the software. Buyers can then place bids on this hashpower for a chance to use the hardware for their own mining profits. For more info, checkout Nicehash's main site here.
Mining Rig Rentals is another great option for those who are looking to get more hashpower for mining. Miners donate their mining rig so that buyers can lease them for however long they wish. For more info, check out the mining rig rental's main site.
Bitdeer is responsible for hosting Bitmains infamous ASIC miners who are widely known for their amazing performance when it comes to today's Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Users can buy different packages ranging from 120 to 360 days long. The problem is it's pretty popular, and therefore it tends to get sold out quite frequently.
In the end, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on a PC might not be the end all be all, but its still a way to earn money with Bitcoin. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is just one of the many ways to start making money through cryptocurrencies and is one of our favorite ways to earn. To learn more about some of the other ways you can make money with this digital craze, check out out our other guides.
If you feel this information has helped you in some way or maybe you have something else to add, then, by all means, drop a comment below. We love hearing from crypto enthusiasts from all around the world. If you need further assistance, please join our discord to talk to us.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:04 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the process of earning bitcoin in exchange for running the verification process to validate bitcoin transactions. These transactions provide security for the Bitcoin network which in turn compensates miners by giving them bitcoins. Miners can profit if the price of bitcoins exceeds the cost to mine. With recent changes in technology and the creation of professional mining centers with enormous computing power, as well as the shifting price of bitcoin itself, many individual miners are asking themselves, is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) still profitable?
There are several factors that determine whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a profitable venture. These include the cost of the electricity to power the computer system (cost of electricity), the availability and price of the computer system, and the difficulty in providing the services. Difficulty is measured in the hashes per second of the Bitcoin validation transaction. The hash rate measures the rate of solving the problem--the difficulty changes as more miners enter because the network is designed to produce a certain level of bitcoins every ten minutes.   When more miners enter the market, the difficulty increases to ensure that the level is static. The last factor for determining profitability is the price of bitcoins as compared against standard, hard currency.
Key Takeaways.
Bitcoin is mined using computing rigs which include expensive hardware. Miners are rewarded with bitcoin for verifying blocks of transactions to the blockchain network. As more miners compete for bitcoin rewards, the process becomes more difficult. To determine whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is profitable for you, consider costs of equipment and electricity as well as the difficulty associated with mining and how the price of bitcoin will impact potential rewards.
The Components of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Prior to the advent of new Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software in 2013, mining was generally done on personal computers. But the introduction of application specific integrated circuit chips (ASIC) offered up to 100 billion times the capability of older personal machines, rendering the use of personal computing to mine bitcoins inefficient and obsolete.   While Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still theoretically possible with older hardware, there is little question that it is not a profitable venture. This is because of the way that mining is set up: miners are competing to solve hash problems as quickly as possible, so those miners at a serious computational disadvantage essentially stand no chance of solving a problem first and being rewarded with bitcoin. When miners used the old machines, the difficulty in mining bitcoins was roughly in line with the price of bitcoins. But with these new machines came issues related to both the high cost to obtain and run the new equipment and the lack of availability.
Profitability Before and After ASIC.
Old timers (say, way back in 2009) mining bitcoins using just their personal computers were able to make a profit for several reasons. First, these miners already owned their systems, so equipment costs were effectively nil. They could change the settings on their computers to run more efficiently with less stress. Second, these were the days before professional Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) centers with massive computing power entered the game. Early miners only had to compete with other individual miners on home computer systems. The competition was on even footing. Even when electricity costs varied based on geographic region, the difference was not enough to deter individuals from mining.
After ASICs came into play, the game changed. Individuals were now competing against powerful mining rigs that had more computing power. Mining profits were getting chipped away by expenses like purchasing new computing equipment, paying higher energy costs for running the new equipment, and the continued difficulty in mining.
Difficulty of Mining Bitcoin.
As discussed above, the difficulty rate associated with mining bitcoin is variable and changes roughly every two weeks in order to maintain a stable production of verified blocks for the blockchain (and, in turn, bitcoins introduced into circulation). The higher the difficulty rate, the less likely that an individual miner is to successfully be able to solve the hash problem and earn bitcoin. In recent years, the mining difficulty rate has skyrocketed. When bitcoin was first launched, the difficulty was 1. As of May 2020, it is more than 16 trillion.     This provides an idea of just how many times more difficult it is to mine for bitcoin now than it was a decade ago.
Shifting Rewards.
The Bitcoin network will be capped at 21 million total bitcoin. This has been a key stipulation of the entire ecosystem since it was founded, and the limit is put in place to attempt to control for supply of the cryptocurrency. Currently, over 18 million bitcoin have been mined. As a way of controlling the introduction of new bitcoin into circulation, the network protocol halves the number of bitcoin rewarded to miners for successfully completing a block about every four years.   Initially, the number of bitcoin a miner received was 50. In 2012, this number was halved and the reward became 25. In 2016, it halved again to 12.5. In May 2020, the reward halved once again to 6.25, the current reward.   Prospective miners should be aware that the reward size will decrease into the future, even as difficulty is liable to increase.
Profitability in Today's Environment.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can still make sense and be profitable for some individuals. Equipment is more easily obtained, although competitive ASICs cost anywhere from a few hundred dollars up to about $10,000. In an effort to stay competitive, some machines have adapted. For example, some hardware allows users to alter settings to lower energy requirements, thus lowering overall costs. Prospective miners should perform a cost/benefit analysis to understand their breakeven price before making the fixed-cost purchases of the equipment. The variables needed to make this calculation are:
Cost of power: what is your electricity rate? Keep in mind that rates change depending on the season, the time of day, and other factors. You can find this information on your electric bill measured in kWh. Efficiency: how much power does your system consume, measured in watts? Time: what is the anticipated length of time you will spend mining? Bitcoin value: what is the value of a bitcoin in U.S. dollars or other official currency?
There are several web-based profitability calculators, such as the one provided by CryptoCompare, that would-be miners can use to analyze the cost/benefit equation of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Profitability calculators differ slightly and some are more complex than others.
Run your analysis several times using different price levels for both the cost of power and value of bitcoins. Also, change the level of difficulty to see how that impacts the analysis. Determine at what price level Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) becomes profitable for you--that is your breakeven price. As of May 2020, the price of bitcoin is hovering around $8,000. Given a current reward of 6.25 BTC for a completed block, miners are rewarded around $50,000 for successfully completing a hash. Of course, as the price of bitcoin is highly variable, this reward figure is likely to change.  
To compete against the mining mega centers, individuals can join a mining pool, which is a group of miners who work together and share the rewards. This can increase the speed and reduce the difficulty in mining, putting profitability in reach. As difficulty and cost have increased, more and more individual miners have opted to participate in a pool. While the overall reward decreases because it is shared among multiple participants, the combined computing power means that mining pools stand a much greater chance of actually completing a hashing problem first and receiving a reward in the first place.
To answer the question of whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still profitable, use a web-based profitability calculator to run a cost-benefit analysis. You can plug in different numbers and find your breakeven point (after which mining is profitable). Determine if you are willing to lay out the necessary initial capital for the hardware, and estimate the future value of bitcoins as well as the level of difficulty. When both bitcoin prices and mining difficulty decline, it usually indicates fewer miners and more ease in receiving bitcoins. When bitcoin prices and mining difficulty rise, expect the opposite--more miners competing for fewer bitcoins.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:04 am

CPU mining on $70 XEON 2021|7:17
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:15 am
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) still profitable in 2020?
If you have access to cheap hardware and/or electricity, then Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can still be a profitable endeavor.
Bitcoin miners help to keep the network running (Image: Shutterstock)
Bitcoin has more than doubled in value since March, but halving rewards have also been cut in half. The Bitcoin hash rate also recently reached its all-time highest value, leaving smaller Bitcoin miners at a disadvantage. The profitability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) comes down to hardware acquisition and running costs; most modern miners are currently net positive in terms of daily yields.
Since reaching its lowest value of 2020 back in March, the price of Bitcoin (BTC) has been on a meteoric uptrend, with the leading cryptocurrency more than doubling in value in the last five months.
At the same time, the Bitcoin hash rate has increased by more than 25% since March, recently reaching its highest ever value. In May 2020, Bitcoin also completed its third halving event, which saw the amount of Bitcoin mined each day cut in half.
With all these factors coinciding with one another, it can be difficult to keep track of whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is still profitable in 2020. Here's what you need to know.
Mining difficulty tends to increase with time.
One of the main things that miners need to consider when mining Bitcoin is the difficulty change. Briefly, the Bitcoin difficulty determines how much work a miner needs to put in to solve the complex mathematical problem that will allow them to add a new block of transactions to the blockchain.
This difficulty is either increased or decreased after every 2016 blocks, or roughly every 14 days, depending on how quickly the previous 2016 blocks were found. If the previous 2016 blocks took less than 14 days to discover, then the difficulty increases, whereas it decreases if it took more than 14 days to discover--all with the goal of returning the average block discovery time to 10 minutes.
Because the hash rate tends to increase over time, so too does the block discovery difficulty--which, in turn, makes it harder for miners with older hardware to keep up as their proportion of the total hash rate reduces over time. However, since the price of Bitcoin also tends to rise following an increase in the hash rate, the increasing difficulty doesn't always mean reduced profitability. There are also a handful of steps miners can take to quicken their return on investment (ROI) and maximize profits.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability depends on several factors.
The best way to stay on top of the difficulty curve and maximize the odds of achieving profitability is by acquiring the latest, most efficient mining hardware at a fair price.
Those looking to turn a profit by investing in new mining hardware will need to consider the price and shipping cost (and any potential delays), import taxes, and electricity costs involved in acquiring and operating their new hardware. The ideal Bitcoin miner is both energy efficient and offers excellent bang for the buck terms of hash rate output.
According to CryptoCompare's mining profitability calculator, 1 TH/s of hash rate will generate approximately 0.00000742 BTC, or around $0.08639 per day in profit at Bitcoin's current value ($11,763). Because of this, a 73 TH/s Antminer S17+ would pull in around $6.30 per day, while a 112TH/s S30 M++ would bring in around $9.68/day.
However, Bitcoin miners need to deduct their electricity and maintenance costs, which can vary considerably depending on the country and energy costs they have access to.
Assuming an average power consumption of 30W/TH/s and an average electricity cost of $0.10/KW, Bitcoin miners can expect to pay close to $ 0.072 per TH of mining power each day. That works out at $5.26 for a 73 TH/s miner or $8.10 for a 112TH/s one.
That means Bitcoin miners can expect to generate around 20% profit per day over operating costs using current generation hardware. Since electricity costs take up a sizable chunk of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profits, securing a low-cost energy plan or setting up in a region with cheaper electricity is the quickest way to boost profitability.
Miners also need to factor in their acquisition costs to determine how long it will take to achieve a full return on their investment. Mining hardware bought closer to its original launch date at or below RRP will often pay for itself faster than those bought later, or at an inflated price.
Since most Bitcoin miners run into the thousands of dollars, it's safe to say that most miners won't achieve a full ROI for several months at the very least--but they may be able to recoup some of their initial costs by selling the used miner on when purchasing newer equipment.
Disclaimer.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Mining Profitability Drops as Bitcoin's Hash Rate Hits New All-Time High.
18 Oct 2020 / In #Bitcoin, #Mining.
-Bitcoin miners have struggled to remain profitable with all but the latest iterations of mining rigs.
-Bitcoin's hash rate hit an all-time high on October 14 at 156 EH/s.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs have struggled to maintain profitability as BTC reached a new all-time high (ATH) hash rate earlier in the week.
According to data compiled by BitInfoCharts, bitcoin's hash rate reached a new ATH on October 14 at 156 exahash per second (EH/s).
Despite the increase in hash rate and network difficulty, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs-particularly the more common older generation models-are struggling to maintain profitability.
A report by Bitcoin.com claims miners are finding it more difficult than ever to turn a profit mining blocks on bitcoin's network, with the next difficulty shift scheduled to occur on October 17.
The report found that only 18 known mining pools and one unknown pool have managed to hash away at the chain following the spike in hash rate.
Using data from real-time mining hardware aggregator asicvalue.com, the report showed just thirteen of the SHA256 mining rigs available to the market are profitable at the current rate, generating about $2 per day.
A report by Tradeblock in February estimated the price of bitcoin would need to be $12,500 post-halving in order for miners to break even. At its current price, the average base reward value has been around $71,390 per block, with close to $6,189 in transaction fees.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:16 am

CPU Mining 3900x 14600 H/S On Random X Monero|10:24
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:16 am

How To Mine Monero (XMR) RandomX With Your CPU (Intel  AMD)|13:23
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:17 am
Money can be made, but no method guarantees profit.
Interest in cryptocurrencies has surged since 2015 as bitcoin has seen its value rise from about $300 per coin to a peak of about $20,000 per coin in December 2017, then dropping to about $8,000 per coin as of November 2019.   Other cryptocurrencies have seen similar surges and dips in value. Nearly 3,000 cryptocurrencies are listed on investing.com, but two of the most popular alternatives to bitcoin include ethereum ($145 per coin, $15 billion market cap, as of Nov. 2019) and litecoin ($45, $2.9 billion).  
While buying on an exchange like Coinbase is usually fairly simple and allows you to buy fractions of cryptocurrencies, there are those who prefer to mine their coins. The best option likely depends on individual circumstances.
Mining Profitability.
Mining cryptocurrency seems like a no-brainer. Set up a computer to help solve complex math puzzles and you are rewarded with a coin or a fraction of a coin. The first bitcoin miners were able to earn coins relatively quickly just using what computing power they had in their homes.  
By 2019, cryptocurrency mining has become a little more complicated and involved. With bitcoin, the reward is halved every four years.   On top of that, serious miners have built huge arrays to mine, making it harder for smaller miners to compete. You can join a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool to be more effective, but that comes with a fee, reducing your profits.  
Some crypto miners instead opt for other currencies. Some other cryptocurrencies are worth very little in U.S. dollars, but it's possible to use what you mine and convert it into fractional bitcoins on an exchange, then hope that bitcoin gains in value.
No matter what you decide to mine, you have to account for your setup costs, including, in some cases, graphics cards that can cost upward of $700 apiece.     It's possible to put together a basic rig for some of the less popular cryptocurrencies for around $3,000. However, some miners spend more than $10,000 on their rigs.
On top of building your rig, you also need to realize that you are going to be using quite a lot of power. If you have high power rates, you could end up spending quite a lot to mine coins--especially bitcoin. The electricity cost involved in mining a single bitcoin is more than $3,000 in the cheapest states.   For states with higher electric rates, you could spend more than $6,000 in electricity to mine a single bitcoin. With the cost of one coin hovering at $7,000 as of December 2019, the energy costs alone don't make it worth it.  
A less powerful rig mining alternative currencies could save you money. Even so, it can take several weeks, or even months, to recoup your original investment and become profitable.
Cloud mining involves purchasing time on someone else's rig.   Companies like Genesis Mining and HashFlare charge you based on what's called a hash rate--basically, your processing power. If you purchase a higher hash rate, you are expected to receive more coins for what you pay for, but it will cost more.
Depending on the company you choose, you might pay a monthly fee, or you might pay according to the hash rate.   Some companies also charge a maintenance fee. In general, cloud miners that allow you access to bitcoin come at higher rates.
In some cases, you might be required to sign a year-long contract, locking you in. If the value of the cryptocurrency drops, you could be stuck in an unprofitable contract.
As it is, depending on what you mine, it can take several months before your cloud mining investment becomes profitable.
However, at least with cloud mining, you don't have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.
The Long View.
Investing in expensive equipment and spending in excess of $3,000 in energy bills to mine one bitcoin only makes sense if you believe the price of bitcoin will rise beyond the $3,000 to $4,000 range.
Buying bitcoins with hope of their value rising is equally risky. The market for cryptocurrencies is young, and for every analyst who sees great potential, there is another who expects the market to go bust.
Banks such as JP Morgan still view cryptocurrencies as unproven and likely to drop in value.   Benoit Coeure, a board member with the European Central Bank, argued in January 2018 that cryptocurrencies could prove to be a good system for cross-border payments as long as there is an understanding of how to "control these gateways between the shadow-currency universe and the regular financial system."   Less than a year later, he referred to bitcoin specifically as the "evil spawn of the financial crisis," while still acknowledging the broader potential of cryptocurrencies.  
Bottom Line.
Bitcoin and other cryptocurrencies remain a high-risk, high-reward investment with little consensus about the economic roles they will play in the coming years.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a central process to the entire network that validates transactions, secures the blockchain and uncovers new bitcoin. In brief, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) requires miners to contribute computing power in exchange for the chance to unlock rewards of bitcoin. In a very basic sense, bitcoin miners are primarily motivated to participate because of the chance to make a profit.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be quite profitable for the major operations that conduct the process on a large scale (running hundreds of thousands of miners at a time) and reduce their energy costs through sustainable sources, government subsidies or other means. But the exact level of this profitability is determined by many factors.
In addition to the costs of equipment and energy, the bitcoin price will have a large impact on the profitability of mining. Successful miners are rewarded in bitcoin which, as every Bitcoiner knows, does not have a fixed price relative to fiat currency. Thus, if bitcoin's price rises, miners will have further incentive to run operations and better chances of turning a profit. Conversely, if the bitcoin price falls, many large operations will cease or slow their mining efforts in order to reduce energy costs.
Despite the many factors that determine Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability, even with the latest and greatest hardware, a miner with high electricity costs is unlikely to ever turn much of a profit.
The Changes in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitability.
When first introduced by Satoshi, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) was conducted on personal computers. There is no indication that Bitcoin's creator predicted that bitcoin miners would specialize their equipment and that an entire Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) industry would rise to the degree that it has now.
The use of GPUs for mining, then the introduction of Application Specific Integrated Circuits (ASICs) have changed the dynamics of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability dramatically, making it critical to obtain specifically-built mining rigs that optimize for hash power and energy consumption.
The likelihood of a miner being first to correctly hash a block and therefore receive the mining subsidy is determined by the proportion of hash power they are contributing to the network. The majority of the hash power on the network is now contributed by a few mining pools.
The profitability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has also changed as the Bitcoin blockchain has been split.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitability and the Halving.
When miners solve blocks on the Bitcoin blockchain, they receive a predetermined amount of bitcoin as a mining reward, a system created to incentivize miners to contribute computing power to the network and confirm new transactions.
The block reward is based on the original block subsidy of 50 BTC, as determined by Satoshi, plus the mining fees that those conducting transactions are willing to pay to have their transactions verified. Bitcoin's block subsidy is preprogrammed to cut in half every 210,000 blocks, an event known as the "Halving" or "Halvening." The original subsidy of 50 BTC was cut in half at block 210,001 to become a subsidy of 25 BTC, then that subsidy was cut in half at block 630,000 to 12.5 BTC.
Because the reward for mining new Bitcoin blocks is cut so dramatically at these intervals, the Halvings have significant impact on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Still Profitable Today?
Although Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has become much more competitive than when the technology was first introduced, the practice can still be profitable. The advent of mining pools and advances in ASICs mean that it's possible for anyone, anywhere to find a way to participate in Bitcoin's most critical process and at least offset their energy costs.
But determining whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) will actually be profitable for any specific individual requires a cost analysis that takes into account their particular circumstances. While many factors go into Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)'s profitability today, the primary questions to answer are:
How much will power cost?
If you plan to mine from your home's power grid, this can be determined by reviewing your electricity bill and calculating costs based on how much you are charged per kWh. You may be able to reduce this cost by tapping into alternative or renewable energy sources. You may also consider sending your equipment to a mining colocation that hosts your machine and delivers its power for you. Costs for managed hosting in the U.S. can range from 4 to 8 cents per kWh, depending on the number of machines you are hosting.
How efficient is your mining hardware?
Different mining rigs have different efficiency specs, so your power consumption costs will ultimately be determined by how efficiently your hardware converts power into hash rate. Newer mining machines are the most efficient and can deliver you the highest profit margin, but they are also the most expensive to buy.
How long until you successfully mine a block?
There is no way to determine exactly how long it will take for you to be the first to correctly guess the hash and receive a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) reward, but this will ultimately be determined by the proportion of hash power you are contributing to the network. The more hash power you are contributing (or that your mining pool is contributing), the more quickly you can expect to receive a reward. As a miner, you are rewarded for your hash rate directly by the mining pool.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:17 am

Crypto Mining Farm at Condo - February 2021 Update|10:43
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:17 am

How to Mine Ethereum on Windows 10 - 2021 Guide|21:33
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:18 am
How much is bitcoin worth?
Because bitcoin miners are rewarded with bitcoin, the "profitability" of the enterprise is largely determined by the fiat price of bitcoin. If bitcoin is priced at a relatively high amount of dollars, a mining reward will go further than if it is priced relatively low.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Guide - Getting started with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot.
Before you start mining Bitcoin, it's useful to understand what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) really means. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.
The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.
Sometimes you may want to mine a more volatile altcoin like MWC which is superior for scalability, privacy, anonymity and fungibility by utilizing MimbleWimble in the base layer.
With mainnet launching in November 2019 it has risen from $0.22 to over $8.00 in its first two months.
Step 1 - Get The Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Purchasing Bitcoins - In some cases, you may need to purchase mining hardware with bitcoins. Today, you can purchase most hardware on Amazon. You also may want to check the bitcoin charts.
How To Start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
To begin mining bitcoins, you'll need to acquire Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to 100x the capability of older systems have come to dominate the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) industry.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware built specifically for that purpose. Several companies such as Avalon offer excellent systems built specifically for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Best Bitcoin Cloud Mining Services.
Another option is to purchase in Bitcoin cloud mining contracts. This greatly simplifies the process but increases risk because you do not control the actual physical hardware.
Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.
Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.
Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.
Hashing 24 Review: Hashing24 has been involved with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.
Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.
Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.
Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.
Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.
NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.
Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.
MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.
How to Mine Bitcoin: Complete Guide For Beginners.
Getting involved with cryptocurrency mining is a great way to gain a deeper understanding of the Bitcoin blockchain, and earn BTC along the way.
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Bitcoin pioneered mining when it first went live in 2008, and it's still one of the most popular coins among crypto miners.
Mining serves various essential purposes: it provides security for the Bitcoin network and it processes transactions. Moreover, it provides a way for participants to earn BTC as a reward.
Bitcoin's Hash Function.
In order to mine a block, participants must solve cryptographic hash problems. This is referred to as "hashing."
Bitcoin relies on a specific hash function called SHA-256. This is only important insofar as the nature of SHA-256 has led to an arms race of increasingly efficient computer chips purpose-built for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
It is no longer possible to mine Bitcoin at a profit using commercially available computer hardware, like a GPU or CPU. In order to compete, miners must use a device called an ASIC ( application-specific integrated circuit ), which is capable of solving SHA-256 problems very quickly. One of the most popular ASIC lines is Bitmain's Antminer.
Bitcoin could abandon SHA-256 and adopt an alternative in order to resist ASIC dominance, but it is unlikely to do so. Critics such as Cobra and BTC POW Upgrade have advocated changes to Bitcoin's mining protocol, but they have failed to gain traction.
ASIC Profitability.
There are several different models of ASIC mining devices on the market. The most profitable ASICs have a high hashrate in terahashes (TH/s) and low energy consumption in watts (W). Keep in mind hashrate and energy efficiency change quickly as newer, more efficient ASICs are released.
These are some of the most profitable ASICs, according to F2Pool:
Antminer S19 Pro, 110 TH/s, 3250 W, selling for $2,900 Whatsminer M30S++, 112TH/s, 3472 W, selling for $1,800 Hummer Miner H9 Pro, 84TH/s, 3360 W, selling for $1,600 Canaan Avalon 1166, 68 TH/s, 3196 W, price unknown INNOSILICON T3+, 67 TH/s, 3300 W, selling for $2,000.
There are also consumer devices like the the Coinmine One. Though, these "plug-and-play" mining devices are unlikely to turn a profit.
As of April 2020, the Antminer S19 Pro generates roughly $9 worth of profit per day, while the INNOSILICON T3+ brings in about $4 of profit per day. Exact profits are subject to change depending on personal electricity costs and BTC market prices.
Though it is clearly possible to mine BTC at a profit, ASICs are an expensive investment. The ASICs listed above cost $2,000-$3,000, and it could take over a year to recover the upfront costs.
Unfortunately, ASIC devices become obsolete fairly quickly. Though stories of ASIC devices being dumped and sold for scrap metal may be sensational, ASICs only last a few years--and it is not a good idea to buy a past-generation ASIC just before its lifespan expires.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:19 am
Bitcoin's Total Hashrate.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is highly competitive, and the blockchain's overall hashrate has risen sharply over the past several years.
Bitcoin's total hashrate, via Blockchain.com.
This growth is partially due to the rise of large-scale mining farms. Though it is not clear how heavily Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farms dominate mining, one firm (Layer 1) has suggested that it controls 2% of the total Bitcoin hashrate. Larger farms may have even greater dominance.
However, the dominance of mining farms should not be overblown. Bitmain, which likely controls a large percentage of the Bitcoin hashrate, has achieved such a large market share by selling ASICs to independent customers--not just by operating its own mining farms.
In any case, it is still possible for individuals to compete with mining farms. Rising hashrates simply render older ASIC devices obsolete.
Block Reward Halving.
Bitcoin undergoes a "halving" every four years, which cuts its block reward (the reward for mining one block) in half.
Though this reduces mining profits in the short-term, halvings also reduce inflation. In theory, this ensures that Bitcoin maintains a reasonably high value in the long term.
There is plenty of debate over whether halvings actually impact prices, or whether they are "priced in" beforehand. Bitcoin's 2012 halving caused its price to rise from $11 to $1,100 (97x) over one year. Bitcoin's 2016 halving caused prices to increase from $268 to $2,500 (10x) over the course of a year.
Bitcoin prices after halvings.
The next Bitcoin halving is scheduled for May 18, 2020--but there is no guarantee that the price trends following this halving will resemble previous trends, either in the short-term or long-term.
Incidentally, Bitcoin Cash and Bitcoin SV underwent their own halvings in 2020 without significant changes to market value. Those trends should not be generalized to Bitcoin.
Joining a Mining Pool.
It is no longer practical to "solo mine" BTC. Instead, those looking to mine will need to join a pool. Pools share rewards across miners in exchange for a small fee. This allows miners to earn block rewards on a regular, consistent basis.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools are known for being fairly centralized. Bitmain owns two of the largest pools: Antpool and BTC.com. Two other large pools, F2Pool and Poolin, are independently operated.
Pool hashrate distribution, April 2020, via BTC.com.
Generally, it is not necessary to compare pools too closely. Any pool that offers 1%-3% fees and minimum withdrawal amounts of 0.001-0.005 BTC ($10-$50) is reasonable. Most mining pools listed on the chart above are a good choice for most miners.
How Do I Get Started With Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
One of the questions I'm asked often is how do I get started with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? The answer is: to be cautious. Mining Bitcoins is an essentially risky endeavor, and you need to be well aware of the risks and potential rewards before entering. The good news is that there are a number of low-risk methods to get started, so get your facts straight first. First, it's important to consider the right environment for getting started with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). If you live in a remote location without high-speed internet access, this isn't a great option. You should go for regions where you have high-speed internet and the miner is close enough to the power supply for it to be easily connected to a generator. Second, it's important to take the steps to get started before deciding to invest any money in the process. That means knowing the basic skills of programming languages such as C++, Java , C#, PHP, etc. If you don't feel comfortable with such programs, find someone who can help you. Third, many people think that they're "rich" just because they're trying to get started with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). This isn't the case, but that doesn't mean it won't give you more motivation to get started with the process. Fourth, if you're interested in knowing more about how to get started with mining Bitcoins, it's important to learn about the process of mining. There are a few good resources online to help you learn.
How Do finally get started:
The final question people often ask me is how do I get started with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? In answer to the question of how do I get started with mining Bitcoins, it really depends on what you want to achieve. I have worked in the field of Bitcoin and mined for nearly four years, and I've learned that while the average person can get into the process, it's not at all for the faint of heart. It's far more profitable to work from home using software and other tools to produce a steady income. When it comes to getting started with mining Bitcoins, it's always important to have a clear idea of what you want to do and why. Only then can you make decisions that will help you accomplish your goals. The key is to be realistic about how much effort you can bring to the process and to set your expectations appropriately. If you're a beginner in the process, it's important to do some research on the process before you begin, and get up to speed on the information needed to protect yourself and your equipment. On the other hand, there are also numerous stories of people who have gotten very rich by mining Bitcoins. This is probably the best way to earn large sums of money and while the process may be slightly more complex than the average person would use, you don't have to be a computer programmer to make good money. Just as you don't have to be a computer programmer to buy a house, you don't have to be a computer programmer to mine Bitcoins.
Researching is the key!
It's important to get up to speed on the Bitcoin network, its technical terms, and the technology behind mining. It's possible to obtain technical information online to help you with your research. It's also important to learn about the security features of the equipment, which is essential to protecting yourself from becoming a victim of a hacker. Knowing the basics of how to get started with mining bitcoins is important to have a clear understanding of the process. You don't have to be a computer wizard, but you do need to be able to understand the basics of the mining process and be able to protect yourself from harmful outcomes that can occur.
How to Start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
It is not easy to make Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitable, especially if you decide to do it alone. On the other hand, if you approach the subject with skill and knowledge, it could be a really good shot. In this article we will tell you how to start mining bitcoin currency.
What do you need to start mining bitcoin currency?
Mining is a process performed by a powerful computer which consists in solving mathematical issues. As a reward for successful solving, a user gets bitcoins. This is a central principle of Bitcoin economy that drives its functioning.
As we have already mentioned, getting into the niche of mining is not easy. The reason is that more and more people with powerful equipment appear on the market regularly. In addition, there are large mining farms with incredible productive capacities, so it is almost impossible for an individual user to compete them. Think carefully before you start and try to realize whether mining is anyhow advantageous for you.
Long time ago, it was possible to mine bitcoins using a personal computer. However, today you need to purchase the newest and the most powerful miner which will cost you a few thousand dollars depending on its speed and power.
Hardware is produced in a form of cards similar to graphic ones. Between the most popular hardware there are AntMiner, Avalon, Butterfly Labs, CoinTerra, etc.
There is even more powerful (and more expensive) hardware designed for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) - ASIC (Application Specific Integrated Chip).
Bitcoins are transferred to the special digital wallets that store and protect your money. There are two types of them: local wallets and online ones. Online services that host personal wallets are considered less secure since they will not be held liable if something happens on their end.
Therefore, you'd better get yourself a local wallet. These wallets host blockchains and therefore protect your bitcoins from any catastrophes.
The most popular wallets are Armory and BitcoinQT.
Be very attentive and careful with your wallet. If you lose it, you lose your money with no possibility to get them back.
Mining pools are the groups of miners who get together to combine their powers and increase chances for getting income. They divvy bitcoins up according to the contribution made by every user. You should go in a group because this will increase your chances to receive money and return your investments. The most popular pools are Antpool, BTC.com, BCMonster.com, Slush Pool, etc.
To get started, you will also need mining program for your computer. Some pools offer particular software, the others don't.
One of the most efficient programs is BFGMiner. There is also a program designed for Mac called MacMiner.
Get started.
To launch the process, you have to connect your hardware to a power outlet and your computer. Then open your software, enter your pool, name and password. From that point, the mining operations can be started.
Keep your graphic card safe.
Remember that mining programs force hardware to be stretched to the limits, which may cause problems. You have to watch the temperatures to avoid damage. Such programs as SpeedFan will make sure that the temperatures don't rise above the tolerable limit. Usually, temperature harmful for graphic cards starts from 80 °C (176 °F).
Check the figures.
After your computer have worked a bit, check the profitability of its activity. Compare the profit you have made over the last time and to the amount of money you spend for electricity and hardware. Analyze the results carefully and think whether mining is your cup of tea. If not, consider some other options that might be more profitable for you. Besides mining, you can buy and sell bitcoins on an online marketplace.
So calculate expenses, weigh all the pros and cons, and get started with mining if your strategic vision holds promises for the future.
How to Mine Bitcoin: Tips and Tricks for Beginners.
Know When It's Time to Seek Out Debt Relief.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is an exciting and rewarding venture. But, if you are new to this trade and you wish to start mining bitcoins, there are a few things that you need to know. This article will outline a few things to know and steps to follow if you wish to venture into Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:19 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:19 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:20 am
As a Bitcoin miner, you are responsible for validating transactions and ensuring the security of the network. For doing this, you are rewarded with BTC. However, with modern technology and many people venturing into Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), becoming a miner is not easy and requires substantial investment. The following is what you need to know to get started.
1. Get a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Rig.
Before you start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), you need a mining rig. While in the past miners used personal computers and graphic cards, you will get no profit using these outdated methods in the modern era.
For substantial profit, you need specific hardware for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and other cryptocurrencies. The special hardware is called Application-Specific Integrated Circuit chips (ASIC). The hardware is energy efficient and mines much faster. The fastest machine of this kind can complete 14 terahashe/sec. But how do you choose the ideal ASIC mining rig?
Choosing an ASIC Mining Rig.
You should consider parameters such as hash rate (performance), power consumption, and price to ensure profitable mining. You have to consider the various different miners and choose one that is beneficial to you. Do not just choose based on price, but also performance and energy consumption. You can use online calculators to calculate and find the most profitable miner for Bitcoin.
2. Create a Bitcoin Wallet.
Once everything else is ready, set up your Bitcoin wallet. This is basically like your bank account. The Bitcoin wallet makes managing your Bitcoin addresses easy. But, you should know that there are different types of Bitcoin wallets. There are simple online wallets, software wallets, and secure paper and hardware wallets. Each wallet comes with benefits and flaws. Some can hold only one currency, while some can hold multiple currencies.
Which is the Ideal Wallet for Beginners?
As a beginner, the best Bitcoin wallet is the Software Wallet. This one is secure, easy to use, and manage. It is also suitable for repeated manipulation with mined coins. You can effortlessly download the wallet and install it on your PC, where your Bitcoins will be stored safely. You also have the option of choosing between a Full Software Wallet or a Lightweight Software Wallet.
3. Join a Mining Pool.
Unlike the old days when you could mine on your own, today, you need to join a pool even if you have a super ASIC miner. This is because one machine cannot profitably compete with large mining companies all over the world. This is why you need to join mining pools. When you join a mining pool, profits are shared among the group depending on a given power. You can make a small, but regular profit. However, there is a fee payable to the operator - usually 0-2% of your reward. Once you find the best pool, register with the website to get a miner ID.
4. Look For Mining Software for Your PC.
Now that you have the hardware, Bitcoin Wallet, and a Mining Pool, it is time to find a mining program for your PC. The program links you to the Bitcoin network and Blockchain. The mining program will deliver work to miners, collect complete transactions, and add the information to the Blockchain.
5. Get Started.
With everything else ready, you can start earning Bitcoins. All you need is to link your mining machine to a power outlet and link it with your computer and then install the mining program. Fill your personal information into the software, choose a device, and start mining...
Success Tip.
For better results, store your miner in the datacenter and enjoy subsidized power costs and get the best internet speed. Your machine will also be secure and a cooled and monitored environment.
Mining bitcoin cz.
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As bitcoin rises, CZ believes that the DeFi industry is here to stay.
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Quick take.
1 minute read.
Despite showing signs of a bubble, CZ believes DeFi is here to stay. The industry has seemingly been growing significantly despite its coin taking over the headlines.
The chief executive officer of one of the biggest platforms in the industry, CZ has recently said that decentralised finance, otherwise known as DeFi, is here to stay despite many projects in the industry showing signs of being a bubble.
Speaking in an interview earlier this week on the 17th of November with the Russian news agency RBC, the CEO argued: "a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely."
Furthermore, CZ went on to highlight that the industry for DeFi is seeing a lot of potential when it comes to growth as he mentioned that it is still a popular entity even during the spike in the bitcoin price following the United States presidential election earlier this month. On top of this, CZ added that initial coin offerings were seen as a bubble back in 2017 but a number of projects within this so-called "bubble" are still going on today including his platform Binance.
He further said:
"Companies create new tokens, issue them as a reward. This is not a long-running story. But I think DeFi is here to stay. Even now, with Bitcoin's popularity rising again, DeFi is still popular. We think there is a lot of growth potential in DeFi."
Despite this, he also did mention that some projects for DeFi may not last as long as people hope despite a number of incentives being provided by the industry through yield farming and liquidity for DeFi.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:20 am

How to Mine Ethereum - 2021 Guide|9:54
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:21 am
S příchodem prvního cenzurujícího poolu vyvstává řada otázek etického, politického a technologického rázu, na které hledáme odpovědi.
Lightning Network a problémy faktur s nulovou sumou.
POW a POS - problémy, zranitelnosti a srovnání.
Recenze.
Burza Coinmate mění design a přidává nové funkce.
Burza Coinmate neusíná na vavřínech. V nové aktualizaci přináší nový desing webu, vyšší bezpečnost díky 2FA už při přihlášení a nové obchodní příkazy.
Onecoin - zabiják bitcoinu, nebo podvodné Ponzi schéma.
Coinmate v novém kabátě a bitcoiny za koruny.
VŠECHNY ČLÁNKY.
Hrozí nám totální cenzura transakcí na Bitcoinu?
Peněženka Blue wallet pro Lightning network platby nepodporuje faktury s prázdnou sumou. Jaké jsou s tím problémy a možná řešení?
Proof of Stake je metoda, slibující oproti POW značné přínosy, POS však přináší také jak známé, tak i neznámé zranitelnosti a slabá místa.
Twitter výběr - býčí nálada začíná převládat.
Býčí nálada se začíná objevovat hned poté, co bitcoin překonal 2 roky nedosaženou hodnotu 16 tisíc dolarů. A je toho plný Twitter.
Proof of Work a Proof of Stake - 3. část, PoS.
Třetí část seriálu o Proof of Work a Proof of Stake se zaměřuje právě na POS algoritmus a jak funguje na síti Ethereum.
Twitter výběr - íránské bitcoiny a další novinky.
Pravidelný týdenní přehled novinek z bitcoinového Twitteru - dnes i o tom, jak chce Írán bojovat proti sankcím pomocí bitcoinu.
Proof of Work vs Proof of Stake - 2. část - hard.
Druhá část seriálu o algoritmech Proof of Work a Proof of Stake, tentokrát se zaměřením na vývoj hardware a bezpečnost algoritmů.
Proof of Work vs Proof of Stake - studie, 1. část.
První díl seriálu vycházející ze studie, která porovnává algoritmy Proof of Work a Proof of Stake. Od důvodů vzniku až po současný stav.
Twitter výběr - Stock-To-Flow jako Moorův zákon?
Stock-to-Flow ve zkratce - všechny modely jsou špatně, a měly by být brány jen jako možný vývoj, ne jako přesná předpověď. Výběr z Twitteru.
MoneyExpo Trading a Invest 2020 - tentokrát online.
Konference patří v této koronavirové době mezi akce, které se musí buď rušit, nebo najít jiné řešení. MoneyExpo se přesto koná - online.
Co je to inflace, jak ji chápat a jak se jí bránit.
Inflace se dá popsat z definice, podle ekonomických zákonitostí, nebo z praktického hlediska. Asi nejvíc vás bude zajímat, jak se jí bránit.
Twitter výběr - bitcoiny zadarmo v apce a týdenní novi.
Týdenní přehled novinek a zajímavostí ze světa kryptoměn, jak jej pro vás připravil Roman Mikulenčák z bitcoinových zpráv na Twitteru.
Těžíme digitální zlato budoucnosti.
TĚŽBA je autorizace plateb v kryptoměnovém trhu.
S námi může těžit každý. I vy!
Chci těžit a mít jen hardware na těžbu.
Chci vydělat na těžbě s co nejmenším rizikem.
Chci jen poradit s těžbou kryptoměn nebo v IT oblasti.
Kdo jsme?
Naše společnost se zabývá dodávkou, konfigurací a správou superpočítačů, které slouží svým výpočetním výkonem pro těžbu neboli autorizaci digitálních elektronických plateb - kryptoměn.
Zajistili jsme energetické, prostorové a odborné zázemí, které je schopno pojmout během 2 let počítačový HW (pro těžbu kryptoměn a realizování výpočetních operací) až do výše 1 mld. korun .
Máme přesah také do marketingu, v rámci kterého pomáháme spřáteleným firmám s nastavením marketingových strategií, copywritingem, PR a redakční činností .
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:24 am

How To Mine Ethereum (Very Easy) (2021)|11:37
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:25 am
First off, it is important to understand the term mining to understand what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is! Initially, before Bitcoin became a common name, the inventor of the blockchain technology knew that for any form of currency to make head way, whether FIAT or digital it had to be globally accepted as either a medium of exchange or a means of payment.
Gradually on the process was the Initial coin offering, where participant of a particular crypto community are allowed to partake in series of activities before launch so that a particular value of the coin is distributed. This is more like what is referred to as Airdrops.
Even though there are quite a number of ways to have a hold on and possess your own coins, like buying on exchanges (Mt. Gox before closure used to be an initial major crypto exchange, or accepting them as payment for a service or product. However, when a person decides to add transactions records to the Blockchain, it is known as Mining. The decentralised idea of Bitcoin simply implies that transactions are shared on a peer-to peer network. Once they are verified and deemed valid they are then recorded on a public database accessible by anyone known as Bitcoin Blockchain.
The blockchain is Bitcoins public ledger, where every transaction is traceable. Users in the network can as well access this ledger and confirm it. It is also a transparent media to confirm a legitimate Bitcoin transaction. So as a Miner you are serving the Bitcoin community by confirming every transaction and making sure all transactions are legitimate. Since there are miners globally it means that the process is almost non-stop and the competition is high and for every successful hash sequence the miners gets a reward.
The implication of mining Bitcoin is in twofold. Firstly computer solving complex maths on the network results in creations of more new coin. Secondly, by solving the computational math problems, the Bitcoin miners make the Bitcoin payment network secure and trustworthy by verifying its transaction information.
Talking about exchanges, it seems to be a common way of acquiring cryptocurrencies especially for newcomers or investors who are not really interested in the technology of things. In fact some of this exchanges do not sell the coins by themselves but they serve as middleman system that connects those who want to buy the coin with those that want to sell. This is however not without its disadvantage as it defeats the idea of this digital currency of decentralization and anonymity.
Some businesses are beginning to give out this cryptocurrencies as rewards for participating in their programs or using their services. For instance the BAT token is usually dished out to users who are actively using the brave browser.
Elsewhere some bitcoin casinos now accept cryptocurrencies and also pay winnings in Cryptocurrencies. This means that gamblers are now allowed to wager while playing the best crypto games with this cryptocurrencies and even get the yield of their winning as cryptocurrency.
Alternatively, one can get this coins from private brokers or perhaps accept it as a means of payment for a product or service.
BTC Mining Explained.
In actual sense every other form of getting Bitcoin are just series of coin transfer from one holder to another buyer. The only place that Bitcoin actually comes from is via Mining. There is a particular amount of this coin that is expected to be in circulation and so the process of mining would continue until the very last bit of the coin is mined. So advisably if you have a mining rig or a computer that is super fast, then there is no need holding back.
Nowadays, everybody entering the universe of mining cryptocurrencies should contend with enormous organizations and their mining farms. As a result normally one of the main choices that each hopeful miner needs to make is whether to go solo or join a 'pool'.
Pooled mining if simply put is the joint effort of generation of a block where different miners contribute their processing capacity. A pool has a lot greater possibility of mining a block and getting a prize. Although in such cases the prize will be divided amongst all the miners who worked towards achieving this goal. Even though the rewards will be obviously lesser than what one may earn by mining a block; many people join a pool as it is a steady flow of income.
Terminologies :
Cryptocurrencies : A cryptocurrency is a digital asset designed to operate as an exchange medium, wherein those in possession of the particular crypto coin have records of it digitally stored in a ledger in the form of a computerised database that is transparent, secure and decentralised.
Blockchain : The Blockchain is a decentralized, distributed ledger that takes record of every crypto transaction within the network. Explicitly, it can be visualized as a string of blocks comprising of various transactions that a carried out over a period of time. Whenever a block of transactions is initiated, miners globally applying series of complex mathematical formula to the instruction on the block, reduce this information to a seemingly short random sequence of letters and numbers called Hash.
Hash: The hash is one of the unique thing on the blockchain database. They are more like fingerprints. In fact it is what makes the system secured in itself. The hash can be created from data of any kind. It is like the Proof of Work in the crypto space.
Bitcoin : It can be regarded the father of all the cryptocurrencies, it is the first known decentralized digital asset. Others have come afterwards like the Ethereum, Ripple and Altcoins.
Mining : Many people around the world with super fast computers who check and confirm transaction hash for a crypto (Bitcoin) are in turn rewarded for this activities. However the more the coin that has been mined, the more difficult the process becomes, and unless you probably have a dedicated mining rig, the chances of getting a dime from mining now is pretty slim.
Interestingly you do not have to be a programmer to mine. The more validation of transactions you have on the blockchain the more the reward. However to prevent users from hashing thousands of transaction block each second and mining all the available Bitcoin at a go, the Bitcoin network has made the process a bit rigorous, as there are super-fast computers that may have been put to use for the purpose.
So the community introduced an economic measure used to battle fraudulent activities by requesting some work from the service requester; which implies processing time by a computer. So the process is initiated with low probability, resulting in a number of trial and error before generating a valid proof of work.
As complex as the mining world is turning out to be, owing to higher computation power required to mine, and the expense of getting the investment hardware making profit is almost becoming very difficult. It is quite competitive and you would need concrete research before investing in an hardware.
In 2009, Dr. Craig S. Wright, using the pseudonym Satoshi Nakamoto, created Bitcoin (BSV). This Bitcoin (BSV) blockchain maintains a public ledger that contains all past transactions.
Bitcoin (BSV) mining is the sophisticated peer-to-peer process used by nodes to add transactions to the publicly available ledger and mint new Bitcoins. Miners provide the computational investment to keep the Bitcoin ledger and secure the network.
What is the goal of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
The object of mining is to be the first miner to find an output that the Bitcoin (BSV) network accepts. New transactions are broadcast to a waiting area termed a Mempool. Miners select X amount worth of transactions from the Mempool to verify and bundle together into a new block, where X represents a variable number. The block and transactions are both hashed using the SHA-256 function. Once the new block is validated, the winning node appends the block to the previous sequential block in the Bitcoin (BSV) blockchain (on average, every 10 minutes).
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:25 am

How to start Bitcoin mining for beginners (SUPER EASY) - ULTIMATE GUIDE (2021)|13:51
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:27 am
What are the rules?
When Dr. Craig S. Wright introduced Bitcoin (BSV), he built the mining protocols on a consensus algorithm called Proof of Work or PoW. Only parties willing to expend a substantial amount of physical computational energy and time can add transactions to the blockchain.
In PoW, miners compete against each other to solve a mathematical equation, so they can earn the right to complete transactions on the Bitcoin (BSV) network. The puzzles are designed to be challenging to solve, but when finished, the solutions can be quickly validated by other miners.
Once a miner finds the solution for a new block, the miner will broadcast that block to the network. All other miners then verify the solution is correct. Afterward, confirmation of the block occurs. This competition allows decentralization to emerge and flourish within the Bitcoin (BSV) ecosystem.
It is harder now than it was in the past years to solve the equation because the mining difficulty algorithm periodically recalibrates as miners join or leave the network. The blockchain is designed to produce a certain level of Bitcoin (BSV) every ten minutes. Mining difficulty is measured in the hashes per second in attempting to find a block.
As miners increased by number, the complexities of crypto calculations increased with it. Hash rates are the speed in which the crypto puzzles are calculated. The adjustment to the complexity is made in accordance with the total amount of computational power being used for mining.
When advancements are made by miners in which efficiencies in increasing hashes per second occur, the complexity increases with it. The purpose of this is to ensure that the block rate discovery remains constant.
What are the incentives?
Block Rewards.
The block reward system economically incentivizes the miners to keep a validated public history of the transactions and continue to secure the blockchain. The broadcasting miner who successfully updates the blockchain earns a block reward.
The reward consists of newly minted Bitcoin and fees attached to the transactions they inserted into the new Bitcoin (BSV) block. The miner is incentivized to compile as many transactions as possible into a block because each transaction contains a fee that pays them. The transaction fees are calculated then charged when sending Bitcoin (BSV) from one address to another.
There are limited restrictions in block mining. The amount of profit for a miner is dependent upon how much hashpower the miner has relative to the network. The Bitcoin Protocol operates on an economic model of deflation with time degrading static subsidy. The number of new bitcoins produced per block will diminish by 50% every 210,000 blocks.
The initial reward was at 50 Bitcoins per block in 2009. The current number of bitcoins awarded per block is 12.5. The last halving occurred in July 2016, and the next one will be towards the summer of 2020 to 6.25 coins.
The fixed subsidy was never meant to be the primary source of revenue supporting miners, but the transaction fees from each block minded.
Profitability is, in large part, determined by how low the mining costs are maintained. Costs are a combination of several factors, including, but not limited to electric power, payroll, cooling, facility rental, etc. One of the biggest investments made is into the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) infrastructure itself.
A multitude of factors drives Bitcoin price fluctuation. Due to market volatility, it is difficult to project how much profit miners will earn from block mining. In 2018, mining revenue plunged as the price of Bitcoin declined, only to rebound in 2019 as the price of Bitcoin rose.
How do I start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Mining costs are substantial when you consider the electricity and maintenance costs needed to run computing equipment to compete for each block at all hours. A large share of the network hash rate on the blockchains originates from mining farms that have invested a substantial amount of money in mining rigs. Solo miners with a small percentage of hash power have little chance of discovering the next block. Mining pools address this problem.
Single miners join a collective network mining pool that merges the computing power of all participants to form a new block. Miners get a share of the reward from each discovered block based on their hash rate resource contribution.
In essence, they earn smaller payouts more often by pooling their resources together. Before joining a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool, new miners should always do their research because some pools have been untrustworthy in the past.
Cloud mining, which is also referred to as cloud hashing, allows the user to buy the output of cryptocurrency mining hardware located in remote data centers. With all mining done remotely, this removes the issues faced by miners using powerful platforms, including sizeable power usage, heat, insulation, and of course, maintenance.
There are some disadvantages to using cloud mining services new miners need to be aware of. These include:
Lower profits than having your own hashing systems Possible fraud, with cloud mining operators being unverifiable Inability to change mining software as the miner does not possess the hardware Contracts may be terminated, as service providers can shut down should cryptocurrency prices be too low, which could result in immediate nonpayment of income.
Mining Tools.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) started with CPUs of your standard computer being used to hash. As is the case with any new market, things have progressed particularly quickly in the mining sector, with the mining industry seeing a shift away from the standard CPUs to graphics processing units (GPU), which were able to hash and solve the cryptographic puzzles at a much faster rate.
Today's Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware has now evolved even further. Whereas in the past, you could mine Bitcoin using a standard desktop computer, today, mining requires specialized software and state-of-the-art hardware that can be energy-intensive. Possessing technical expertise is now required to run or participate in large scale data centers to successfully win blocks.
Mining is performed using specialized equipment called Application Specific Integrated Circuits (ASICs), which are custom-built for this purpose. ASIC Miners have dedicated circuits that produce a lot of processing power. Every year, upgraded ASIC miners get released into the market.
Mining software delivers the work to the external miners and receives the completed work from the miners on the network. The program relays that information back to the blockchain or the mining pool. The program also monitors them and displays general statistics such as the temperature, hash rate, fan speed, and the average speed of the ASIC miners.
Important factors to look at when determining which Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ASIC to buy:
Hash Rate: How many hashes per second the Bitcoin miner makes. Efficiency: Miners use a large amount of electricity, so buyers want to buy a miner that converts the most amount of power into Bitcoin (BSV).
Hosting and Electricity.
Besides the cost of purchasing the ASIC mining rig, the mining rig will consume a large amount of power to solve the complex puzzle and earn the block reward. Electricity rates greatly impact the overall cost to mine Bitcoin (BSV). Rates change depending on the season and type of energy, e.g., renewable.
For a small business mining operation, it is expensive to obtain a facility that's outfitted with the appropriate amount of electrical distribution, cooling, and data networking.
Legality.
In general, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is legal. However, a few countries have declared Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) illegal. Miners are encouraged to research the rules and regulations on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in their jurisdiction.
To date, over 18 million Bitcoins have been put into circulation via this block reward mechanism. There are several web-based profitability calculators that miners can use to analyze the cost-benefit of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Before getting started, miners are encouraged to run analysis before getting into Bitcoin (BSV) mining.
While mining can be profitable, it can be risky, as it requires extensive domain-specific knowledge and a higher cash reserve than expected.
Now that you learned about how Bitcoin is mined, here's a complete guide to cryptocurrency exchanges to help you choose which one is right for you.
How to Start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Computer and How does it Works ?
So do you want to setup Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) computer ? And interested in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Well than you are at the right place to learn where to start.
In order to understand what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) methods are, I will explain some basics about cryptocurrency itself.
Bitcoin (BTC) is an encrypted program code, and prices are affected by market demand. The number of BTC coins is limited and the amount of the coin is 21 million. The cryoto issue is not regulated by any organization or country, so no one but you can control it.
Bitcoin was first introduced in 2009, it was first of its kind and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) was so easy that you could even mine it with your PC.
But today the situation is total different if you want to make any profit you have to invest in costly hardware to do so.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) FAQs :
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ? How to start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ? What is Cloud mining ? What is Pool Mining ? What is Alone Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ?
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ?
BTC is blockchain based cryptocurrency. Bitcoin is like a virtual currency which breaks the monopoly of banks world. It doesn't have a central government. It works in a blockchain network with some algorithem program.
The network is secured by miners, here comes the role of miner who help to check the completion of your bitcoin transactions by solving the BTC blocks. This process is also known as blockchain mining.
All the transaction are grouped into blocks on network. Miner needs good hashing power to solve the block chain transaction. Miners must guess the hash means the string of characters for blocks. Once miner guessed correct hash it can be added to blockchain. This is called POW "Power of work".
In simple words miners uses a software to solve a math problem and in rewards get a certain number of bitcoin. And this makes it worthwhile to spend money on mining.
So when it comes to mining or buying bitcoin than you should know the risks that nothing in this world is guaranteed. So make sure before investment that you have enough knowledge about mining and cryptoworld.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:27 am

How to Mine Dashcoin on Android! Cryptocurreny Mining FREE on Android!|3:20
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:28 am
How to Start Mining Bitcoin ?
Lets starts for what you all came here for - there are three methods to start mining bitcoins :
1. Cloud Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
2.Bitcoin Pool Mining.
3.Solo Mining.
Cloud Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
What is Bitcoin Cloud Mining? Block Cloud mining is a process in which you buy hashing power on rent from the mining company who has a big mining farm setup. Its simply having someone else to do mining for you.
You are paid for the investment you made with the regular income in BTC. Here you can also invest a less amount. C loud mining for bitcoin with joining a good company plan.
As there are many companies claiming to provide best returns in cloud mining, you should well research before investing.
Step 1.
Finding a good Mining Company, below are the names of some good cloud mining providers:
Genesis mining Minergate Hashflare Nicehash Hashing24 Minex MineOnCloud Eobot.
Above mention are the giants and most profitable companies in the market.
You can check the rating, price, hash rate etc for different companies on CryptoCompare Website.
Step 2.
Once you find a good cloud company with good mining contract, you need to choose a package which gives you maximum profit. Better choose a high value package which gives you maximum profit quickly.
But there is also a risk factor, if the mining difficulty of bitcoin increases the BTC profit given by company will decreases. So its better to understand the market trend before investing.
Step 3.
After you join with a cloud mining package, most of the companies will ask you for joining a mining pool. You should join best global mining team to increase the chance earning bitcoins.
After completion of all these steps your cloud mining will be started with in a few days and you will see your account starts filling with bitcoins. Every thing has some advantages and disadvantages, same goes with cloud mining.
Pool Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a process in which BTC miners mines together to solve a single block of blockchain to get the rewards which will be shared with all miners as per their contribution in solving the block.
And to do so you need to get into a bitcoin miner pool. Without joining mining pool if you go for mining on your own then it might takes years or even impossible to solve a single block for you.
That's why it is good to mine in group so that block can be solved quicker and you can have your share of rewards.
There are some steps you need to follow :
1. Get Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Due to the popularity of cryptocurrency mining special chips has been created. Such devices are called ASICs. Thanks to this latest bitcoin device, the speed of the mining process has been improved.
This procedure is made more secure because it protects the system from hacker interference and ensures the operation of long blockchains.
In 2020, a full line of ASIC models has already been developed, offering tremendous performance over traditional computers.
The ASIC chip only releases specific crypto algorithms for certain cryptocurrencies, such as SHA-256 (Bitcoin) and SCRYPT (Litecoin), and some independent developers have released cryptocurrencies with other algorithms where ASIC devices do not exist.
This is done to ensure that the network capacity and complexity of new fork production does not grow to high value. However, this does not apply to Bitcoin and it has been mined for years only by ASIC miners.
If you are in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) then you need to find and buy yourself a good hardware to mine bitcoin. Purchase a powerful ASIC miner. There are many ASIC miner in market provided by bitmain.
Antminer S9 -Hydro Antminer S9i -14.5 TH/s Antminer S9j -14.5 TH/s Antminer T9+ 10.5T Antminer S7.
Currently Bitmain's Antminer S9 and S7 ASIC miners are best in the market.
Now should also make a digital wallet for storing your bitcoins.
2. Joining Mining Pool.
Once you find a good ASIC miner and finished setting up your hardware. Now its time to join a good mining pool which have plenty of miners, trustworthy, low fee and have more smaller regular payouts.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pool have people who mine together and get rewarded for solving block as per their contributions.
Following pools are trustworthy :
BTC.com AntPool Slushpool Eloipool Via BTC F2Pool.
3. Downloading the right software.
This is last step to start mining, so its very important to download the right software and synchronize with hardware correctly.
Select software which supports ASIC Mining below mention are the list of software :
CG Miner Stratum Mining CK Pool BitMinter BFG Miner BTC Miner.
Features: The application, which is also a pool, runs on video cards, has ASIC support and is compatible with all operating systems.
Pros: Suitable for both beginners and experienced miners and easy to install.
Cons: No possibility to earn, the cost of a coin mined within 24 hours is equal to $ 0.5.
Features: console client supporting video card and FPGA devices, encryption, RPC support.
Pros: easy adjustment of the pool, the ability to control the cooling elements of the computer.
Cons: High hardware requirements (ASIC only).
Connect your personal computer to Miner Log in to mining pool Start mining with software.
Mining Alone.
Mining alone is for big miners where complete mining is done without any other miner's involvement. It Means mining without going into a mining pool.
Solving blocks without any helping hand is not an easy task but all rewards are yours.
What is Mining Alone or Solo Mining ?
Mining Alone is a solo mining process. When you connects yourself to mining pools what happens is all pool miners connected to same bitcoin block to solve the mathematical problem.
It helps to solve the block more quicker, more people in pool means more power to solve the bitcoin blocks and the incentives are also shares in between the pool miners.
But if you are doing solo mining, The best option for finding a block is to connect miner to the local btc client. The probability will decrease but you will keep all the rewards.
If you have hardware with several tons of hashing power then it can be used to get more rewards from solo mining but if you have small hardware with small hash rates then you could use pool mining to get your rewards.
How bitcoin Solo mining works ?
First you need is Installation of Bitcoin-core (both GUI and Daemon). Bitcoin core is full node software program Start and it will download complete blockchain with approx. 20 GB. Create a file named as " bitcoin.conf " for mining bitcoin. On window file location would be C:\User\yourusername\AppData\Roaming\Bitcoin\ Set your username and password, replace X with username an d Q with password Download ASIC miner like CGMiner or BFGMiner. Finally launch miner software with local host : 127.0.0.1, rpcport : 8332, username, password as you set in bitcoin.conf file.
Starting Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) In 2020.
Was mining relevance maintained in 2020? On the one hand, the profit to get bitcoin blocks is decreasing, and the amount of resources and energy consumed is increasing. On the other hand, the technology development process does not stop. New hardware comes in, costs are reduced, and chips with unprecedented performance are produced. So Lot depends on the entry point.
The short answer to the relevance of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in 2020 will all depend on the amount of money you want to invest. Indeed, profitability depends on many factors, including the cost of electricity and equipment, but large-scale farms can not only purchase ASICs in bulk, but also allocate a fraction of the cost and time spent independently, regardless of capacity. When Larger paybacks are higher.
It is much more profitable to invest in cloud mining when you have a small investment.
To understand, it is better to look at the opinions of experts on this issue. They claim that by the end of 2020, one bitcoin cost could reach $ 15,000 and grow to $ 25-55,000 by 2020.
Subsequent predictions seem completely unrealistic. Some claim that by 2030, one bitcoin will cost up to $ 500,000. You can predict forever, but as a result bitcoin ratios depend only on one factor-demand.
Bad scenario is For example, cryptocurrency may be banned in large states, making it illegal. And this trend is already evident in many countries.
Basic Concept for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Hash rate is the force used in the specific mathematical calculations that make up the block generation process. Miner programs have different hash rates. This value is measured in mega, giga, and tera hash per second.
BTC per Block (Bitcoin per Block) -A certain number of bitcoins are formed while solving a specific problem. Initially there were 50, and after 210,000 blocks were formed, the number became half, i.e. 25, 12, half, etc. (it takes 4 years to generate this block number, after which the number of queues is doubled).
Bitcoin difficulty -increases with increasing network capacity. In other words, the increase in the number of miners directly affects the complexity of solving mathematical problems.
Electricity Prices (Electricity Rates)-Costs are an important indicator of future profitability, as they vary from region to region and the process requires very high electricity costs.
Power Consumption -Because the "adaptability" of different devices is different, future earnings cannot be calculated without the information about the miner's power consumption.
Pool cost-for work you should be part of one of many pools (group of same crypto miners like you). Certain Service fees is also liable to different platforms.
Period -time dedicated to mining.
Declining production profitability during the year is an important but difficult to determine indicator. This is because no one can accurately predict how many participants will increase and how much production complexity will increase over the months.
Conversion rate -another variable that cannot accurately determine future profitability. If you can save coins for the time being, the value of the quotes doesn't matter much, and it's very important if you prefer to instantly convert all mined crypto to normal money.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:28 am

COMO MINERAR LITECOIN, DOGECOIN, DASH, BITCOIN ETC.. MINING COM PC FRACO FAZENDO RETIRADA LITECOIN|14:51
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:28 am

$7,000 Miner Review - Spondoolies SPx36 X11 DASH Miner - Best Dash Miner EVER!|16:59
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:33 am
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:33 am

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Title: Re: Bitcoin mining.
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by admin in Basics Of Bitcoin 25.
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What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and How Does it Work?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) seems crazy!
Computers mining for virtual coins? Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) just free money?
Well, it's much, much more than that!
If you want the full explanation on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), keep reading.
Chapters.
Chapter 1.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is the backbone of the Bitcoin network.
Miners provide security and confirm Bitcoin transactions.
Without Bitcoin miners, the network would be attacked and dysfunctional.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is done by specialized computers.
The role of miners is to secure the network and to process every Bitcoin transaction.
Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin's famous "blockchain").
For this service, miners are rewarded with newly-created Bitcoins and transaction fees.
Chapter 2.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) actually doing?
Miners are securing the network and confirming Bitcoin transactions.
Miners are paid rewards for their service every 10 minutes in the form of new bitcoins.
What is the point of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? This is something we're asked everyday!
There are many aspects and functions of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and we'll go over them here. They are:
Issuance of new bitcoins Confirming transactions Security.
Mining Is Used to Issue new Bitcoins.
Traditional currencies--like the dollar or euro--are issued by central banks. The central bank can issue new units of money ay anytime based on what they think will improve the economy.
Bitcoin is different.
With Bitcoin, miners are rewarded new bitcoins every 10 minutes.
The issuance rate is set in the code, so miners cannot cheat the system or create bitcoins out of thin air. They have to use their computing power to generate the new bitcoins.
Miners Confirm Transactions.
Miners include transactions sent on the Bitcoin network in their blocks.
A transaction can only be considered secure and complete once it is included in a block.
Because only a when a transaction has been included in a block is it officially embedded into Bitcoin's blockchain.
More confirmations are better for larger payments. Here is a visual so you have a better idea:
Why Does Bitcoin Need Miners?
In short, miners secure the Bitcoin network.
They do this by making it difficult to attack, alter or stop.
The more miners that mine, the more secure the network.
The only way to reverse Bitcoin transactions is to have more than 51% of the network hash power. Distributed hash power spread among many different miners keeps Bitcoin secure and safe.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:35 am

Mining Dashcoin With MinerGate|13:03
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Chapter 3.
Actually want to try mining bitcoins?
Well, you can do it. However, it's not profitable for most people as mining is a highly specialized industry.
Most Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is done in large warehouses where there is cheap electricity.
Most people should NOT mine bitcoins today.
Most Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is specialized and the warehouses look something like this:
That's who you're up against! It's simply too expensive and you are unlikely to turn a profit.
For hobby mining, we'll show you some steps you can take to get started mining bitcoins right now.
Step #1: Get Bitcoin Wallet.
When earning bitcoins from mining, they go directly into a Bitcoin wallet.
You can't mine without a wallet.
Ledger Nano X.
SCREEN: RELEASED: 2019 PRICE: $119.
Ledger Nano S.
SCREEN: RELEASED: 2016 PRICE: $59.
TREZOR T.
SCREEN: RELEASED: 2018 PRICE: $159.
TREZOR One.
SCREEN: RELEASED: 2013 PRICE: $59.
If you aren't sure which one to buy, our best bitcoin wallets guide will help you select a wallet.
Step #2: Find a Bitcoin Exchange.
When earning bitcoins from mining, you may need to sell the coins to pay for power costs. You may also need to buy coins on exchanges.
Step #3: Get Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
You won't be able to mine without an ASIC miner.
ASIC miners are specialized computers that were built for the sole purpose of mining bitcoins.
Don't even try mining bitcoins on your home desktop or laptop computer! You will earn less than one penny per year and will waste money on electricity.
This video from 2017 shows how difficult it is to make money mining using GPUs, and this was in 2017. It is far less profitable today than it was in 2017.
Step #4: Select a Mining Pool.
Once you get your mining hardware, you need to select a mining pool.
Without a mining pool, you would only receive a mining payout if you found a block on your own. This is called solo mining.
We don't recommend this because your hardware's hash rate is very unlikely to be anywhere near enough to find a block solo mining.
How do mining pools help?
By joining a mining pool you share your hash rate with the pool. Once the pool finds a block you get a payout based on the percent of hash rate contributed to the pool.
If you contributed 1% of the pools hashrate, you'd get .125 bitcoins out of the current 12.5 bitcoin block reward.
Mining is actually NOT the fastest way to get bitcoins.
Buying bitcoin is the fastest way. Our exchange finder makes it easy to find an exchange. Try it here.
Step #5: Get Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is how you actually hook your mining hardware into your desired mining pool.
You need to use the software to point your hash rate at the pool.
Also in the software you tell the pool which Bitcoin address payouts should be sent to.
If you don't have a Bitcoin wallet or address learn how to get one here.
There is mining software available for Mac, Windows, and Linux.
Step #6: Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Legal in your Country? Make Sure!
This won't be much of an issue in MOST countries.
Consult local counsel for further assistance in determining whether Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is legal and the tax implications of doing the activity.
Step #7: Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitable for You?
Do you understand what you need to do to start?
You should run some calculations and see if Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) will actually be profitable for you.
You can use a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator to get a rough idea.
I say rough idea because many factors related to your mining profitability are constantly changing.
A doubling in the Bitcoin price could increase your profits by two.
But:
It could also make mining that much more competitive that your profits remain the same.
How to Mine Bitcoins on Android or iOS.
Here's what's funny:
You actually CAN mine bitcoins on any Android device.
Using mining software for Android you can mine bitcoins or any other coin.
What's not so fun?
You'll likely make less than one penny PER YEAR!
Android phones simply are not powerful enough to match the mining hardware used by serious operations.
So, it might be cool to setup a miner on your Android phone to see how it works. But don't expect to make any money.
Do expect to waste a lot of your phone's battery!
Chapter 4.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware (ASICs) are high specialized computers used to mine bitcoins.
The ASIC industry has become complex and competitive.
Mining hardware is now only located where there is cheap electricity.
When Satoshi released Bitcoin, he intended it to be mined on computer CPUs.
Enterprising coders soon discovered they could get more hashing power from graphic cards and wrote mining software to allow this.
GPUs were surpassed in turn by ASICs (Application Specific Integrated Circuits).
Nowadays all serious Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is performed on ASICs, usually in thermally-regulated data-centers with access to low-cost electricity.
Economies of scale have thus led to the concentration of mining power into fewer hands than originally intended.
Chapter 5.
What Are Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Pools?
Mining pools allow small miners to receive more frequent mining payouts.
By joining with other miners in a group, a pool allows miners to find blocks more frequently.
But, there are some problems with mining pools as we'll discuss.
As with GPU and ASIC mining, Satoshi apparently failed to anticipate the emergence of mining pools.
Pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining power.
The pie chart below displays the current distribution of total mining power by pools:
While pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pool's owner.
Chapter 6.
Inside the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Industry.
The mining industry has come a long way since the early days of graphics card mining.
Today there are very professional industrial mining operations. Let's take a look at how they work.
What does a mining farm look like?
Let's take a look inside a real Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farm in Washington state.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farms exclusively use ASIC miners to mine various coins. Many of these farms are minting several Bitcoins per day.
How much do crypto mining farms make?
How much a mining farm makes depends on many factors:
The price it pays for electricity How old its mining hardware is The scale of its operation The price of Bitcoin when the miner sells it The level of difficulty when the Bitcoin is mined.
By far, the biggest factor affecting how much money a mining farm makes is how much it pays for electricity. Nearly all mining farms are using the same hardware.
Since the reward for finding a block is fixed, and the difficulty is adjusted based on total processing power working on finding blocks at any given time, then electricity is the only cost that is variable. If you can find cheaper power than other miners, you can afford to either increase the size of your mining operation, or spend less on your mining for the same output.
How much electricity do mining farms use.
As previously mentioned, mining farms use a lot of electricity. How much they consume depends on how big their operation is. However the latest Bitmain ASIC miner consumes about 1350 watts.
In total, it is estimated that all mining farms will use about 75 terrwat hours of electricity in the year 2020. That is roughly the equivalent to 15 times the yearly energy consumption of denmark.
Where are mining farms located?
Mining farms are located all over the world. We don't know where every mining farm in the world is, but we have some educated guesses.
Most of the mining has been and still is located in China. In fact, as of 2020, it is believed that as much as 65% of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) occurs in China.
Why is so much Mining happening in China? Samson Mow of Blockstream and former CTO of BTCC mining pool explains.
The main advantages of mining in China are faster setup times and lower initial CapEx which, along with closer proximity to where ASICs are assembled, have driven industry growth there.
Bonus Chapter 1.
Important Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Terms.
In this bonus chapter, we will learn about some of the most common terms associated with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
If you are thinking about mining at any level, understanding what these terms means will be crucial for you to get started.
Miner.
Anyone who mines Bitcoins (or any other cryptocurrency).
Block Reward.
The block reward is a fixed amount of Bitcoins that get rewarded to the miner or mining pool that finds a given block.
A collection of individual miners who 'pool' their efforts or hashing power together and share the blockreward. Miners create pools because it increases their chances of earning a block reward.
Approximately every 4 years, the block reward gets cut in half. The first block reward ever mined was in 2008 and it it was for 50 Bitcoins. That block reward lasted for four years, where in 2012, the first reward halving occured and it dropped to 25 Bitcoins.
In 2016, a second halving occured where the reward was reduced to 12.5 Bitcoins. And as of the time of this writing, we are on the cusp of the third halving (ETA May 11th), where the reward will be cut down to 6.25 Bitcoins. You can find the most up to date estimation of exactly when the next halving will occur on our bitcoin block reward halving clock.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:36 am

How To Mine Dash Coin, AMD GPU Miner Guide.|4:56
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ASIC Miner.
ASIC stand for "Application Specific Integrated Circuit". In plain english, that just means it is a chip designed to do one very specific kind of calculation. In the case of of an ASIC miner, the chip in the miner is designed to solve problems using the SHA256 hashing algorithm. This is opposed to GPU mining, explained below.
Learn more about ASIC Miners.
GPU Mining.
GPU mining is when you mine for Bitcoins (or any cryptocurrency) using a graphics card. This was one of the earliest forms of mining, but is no longer profitable due to the introduction of ASIC miners.
Hashing Power (or Hash Rate)
How many calculations (hashes) a miner can perform per second.
Or it can refer to the total amount of hashing done on a chain by all miners put together - also known as "Net Hash".
You can learn more about Hash Rate by reading our article about it.
Difficulty.
Measured in Trillions, mining difficulty refers to how hard it is to find a block. The current level of difficulty on the Bitcoin blockchain is the primary reason why it is not profitable to mine for most people.
Difficulty Adjustment.
Bitcoin was designed to produce block reliably every 10 minutes. Because total hashing power (or Net Hash) is constantly changing, the difficulty of finding a block needs to adjust proportional to the amount of total hashing power on the network.
In very simple terms, if you have four miners on the network, all with equal hashing power, and two stop mining, blocks would happen ever 20 minutes instead of every ten. Therefore, the difficulty of finding blocks also needs to cut in half, so that blocks can continue to be found every 10 minutes.
Difficulty adjustments happen every 2,016 blocks. This should mean that if a new block is added every 10 minutes, then a difficulty adjustment would occur every two weeks. The 10 minute block rule is just a goal though. Some blocks are added after more than 10 minutes. Some are added after less. Its a law of averages and a lot if left up to chance. That doesn't mean that for the most part, blocks are added reliably every 10 minutes.
Kilowatt Hour.
A measurement of energy consumption per hour. Most ASIC miners will tell you how much energy they consume using this metric.
Bonus Chapter 2.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) a Waste of Electricity?
The media constantly says Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a waste of electricity.
But, there are some problems with their theories as we'll discuss.
Isn't Mining a Waste of Electricity?
Certain orthodox economists have criticized mining as wasteful.
It must be kept in mind however that this electricity is expended on useful work:
Enabling a monetary network worth billions (and potentially trillions) of dollars!
Compared to the carbon emissions from just the cars of PayPal's employees as they commute to work, Bitcoin's environmental impact is negligible.
As Bitcoin could easily replace PayPal, credit card companies, banks and the bureaucrats who regulate them all, it begs the question:
Isn't traditional finance a waste?
Not just of electricity, but of money, time and human resources!
Mining Difficulty.
If only 21 million Bitcoins will ever be created, why has the issuance of Bitcoin not accelerated with the rising power of mining hardware?
Issuance is regulated by Difficulty, an algorithm which adjusts the difficulty of the Proof of Work problem in accordance with how quickly blocks are solved within a certain timeframe (roughly every 2 weeks or 2016 blocks).
Difficulty rises and falls with deployed hashing power to keep the average time between blocks at around 10 minutes.
For most of Bitcoin's history, the average block time has been about 9.7 minutes. Because the price is always rising, mining power does come onto the network at a fast speed which creates faster blocks. However, for most of 2019 the block time has been around 10 minutes. This is because Bitcoin's price has remained steady for most of 2019.
Satoshi designed Bitcoin such that the block reward, which miners automatically receive for solving a block, is halved every 210,000 blocks (or roughly 4 years).
As Bitcoin's price has risen substantially (and is expected to keep rising over time), mining remains a profitable endeavor despite the falling block reward... at least for those miners on the bleeding edge of mining hardware with access to low-cost electricity.
Honest Miner Majority Secures the Network.
To successfully attack the Bitcoin network by creating blocks with a falsified transaction record, a dishonest miner would require the majority of mining power so as to maintain the longest chain.
This is known as a 51% attack and it allows an attacker to spend the same coins multiple times and to blockade the transactions of other users at will.
To achieve it, an attacker needs to own mining hardware than all other honest miners.
This imposes a high monetary cost on any such attack.
At this stage of Bitcoin's development, it's likely that only major corporations or states would be able to meet this expense... although it's unclear what net benefit, if any, such actors would gain from degrading or destroying Bitcoin.
Mining Centralization.
Pools and specialized hardware has unfortunately led to a centralization trend in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Bitcoin developer Greg Maxwell has stated that, to Bitcoin's likely detriment, a handful of entities control the vast majority of hashing power.
It is also widely-known that at least 50% of mining hardware is located within China.
However, it's may be argued that it's contrary to the long-term economic interests of any miner to attempt such an attack.
The resultant fall in Bitcoin's credibility would dramatically reduce its exchange rate, undermining the value of the miner's hardware investment and their held coins.
As the community could then decide to reject the dishonest chain and revert to the last honest block, a 51% attack probably offers a poor risk-reward ratio to miners.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is certainly not perfect but possible improvements are always being suggested and considered.
This simplified illustration is helpful to explanation:
1) Spending.
Let's say the Green user wants to buy some goods from the Red user. Green sends 1 bitcoin to Red.
2) Announcement.
Green's wallet announces a 1 bitcoin payment to Red's wallet. This information, known as transaction (and sometimes abbreviated as " tx ") is broadcast to as many Full Nodes as connect with Green's wallet - typically 8. A full node is a special, transaction-relaying wallet which maintains a current copy of the entire blockchain.
3) Propagation.
Full Nodes then check Green's spend against other pending transactions. If there are no conflicts (e.g. Green didn't try to cheat by sending the exact same coins to Red and a third user), full nodes broadcast the transaction across the Bitcoin network. At this point, the transaction has not yet entered the Blockchain . Red would be taking a big risk by sending any goods to Green before the transaction is confirmed. So how do transactions get confirmed? This is where Miners enter the picture.
4) Processing by Miners.
Miners, like full nodes, maintain a complete copy of the blockchain and monitor the network for newly-announced transactions. Green's transaction may in fact reach a miner directly, without being relayed through a full node. In either case, a miner then performs work in an attempt to fit all new, valid transactions into the current block.
Miners race each other to complete the work, which is to "package" the current block so that it's acceptable to the rest of the network. Acceptable blocks include a solution to a Proof of Work computational problem, known as a hash . The more computing power a miner controls, the higher their hashrate and the greater their odds of solving the current block.
But why do miners invest in expensive computing hardware and race each other to solve blocks? Because, as a reward for verifying and recording everyone's transactions, miners receive a substantial Bitcoin reward for every solved block!
And what is a hash? Well, try entering all the characters in the above paragraph, from "But" to "block!" into this hashing utility. If you pasted correctly - as a string hash with no spaces after the exclamation mark - the SHA-256 algorithm used in Bitcoin should produce:
If the characters are altered even slightly, the result won't match. So, a hash is a way to verify any amount of data is accurate. To solve a block, miners modify non-transaction data in the current block such that their hash result begins with a certain number (according to the current Difficulty , covered below) of zeroes. If you manually modify the string until you get a 0... result, you'll soon see why this is considered "Proof of Work!"
5) Blockchain Confirmation.
The first miner to solve the block containing Green's payment to Red announces the newly-solved block to the network. If other full nodes agree the block is valid, the new block is added to the blockchain and the entire process begins afresh. Once recorded in the blockchain, Green's payment goes from pending to confirmed status.
Red may now consider sending the goods to Green. However, the more new blocks are layered atop the one containing Green's payment, the harder to reverse that transaction becomes. For significant sums of money, it's recommended to wait for at least 6 confirmations. Given new blocks are produced on average every ten minutes; the wait shouldn't take much longer than an hour.
The Longest Valid Chain.
You may have heard that Bitcoin transactions are irreversible, so why is it advised to await several confirmations? The answer is somewhat complex and requires a solid understanding of the above mining process:
Let's imagine two miners, A in China and B in Iceland, who solve the current block at roughly the same time. A's block ( A1 ) propagates through the internet from Beijing, reaching nodes in the East. B's block ( B1 ) is first to reach nodes in the West. There are now two competing versions of the blockchain!
Which blockchain prevails? Quite simply, the longest valid chain becomes the official version of events. So, let's say the next miner to solve a block adds it to B's chain, creating B2. If B2 propagates across the entire network before A2 is found, then B's chain is the clear winner. A loses his mining reward and fees, which only exist on the invalidated A -chain.
Going back to the example of Green's payment to Red, let's say this transaction was included by A but rejected by B, who demands a higher fee than was included by Green. If B's chain wins then Green's transaction won't appear in the B chain - it will be as if the funds never left Green's wallet.
Although such blockchain splits are rare, they're a credible risk. The more confirmations have passed, the safer a transaction is considered. This is why what is known as '0-conf' or "0 confirmations" on the Bitcoin Cash blockchain is so dangerous.
Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors interested in cryptocurrency because of the fact that miners are rewarded for their work with crypto tokens. This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in 1849. And if you are technologically inclined, why not do it?
By mining, you can earn cryptocurrency without having to put down money for it. Bitcoin miners receive Bitcoin as a reward for completing "blocks" of verified transactions which are added to the blockchain. Mining rewards are paid to the miner who discovers a solution to a complex hashing puzzle first, and the probability that a participant will be the one to discover the solution is related to the portion of the total mining power on the network. You need either a GPU (graphics processing unit) or an application-specific integrated circuit (ASIC) in order to set up a mining rig.
However, before you invest the time and equipment, read this explainer to see whether mining is really for you. We will focus primarily on Bitcoin (throughout, we'll use "Bitcoin" when referring to the network or the cryptocurrency as a concept, and "Bitcoin" when we're referring to a quantity of individual tokens).
The primary draw for many mining is the prospect of being rewarded with Bitcoin. That said, you certainly don't have to be a miner to own cryptocurrency tokens. You can also buy cryptocurrencies using fiat currency; you can trade it on an exchange like Bitstamp using another crypto (as an example, using Ethereum or NEO to buy Bitcoin); you even can earn it by shopping, publishing blog posts on platforms that pay users in cryptocurrency, or even set up interest-earning crypto accounts. An example of a crypto blog platform is Steemit, which is kind of like Medium except that users can reward bloggers by paying them in a proprietary cryptocurrency called STEEM. STEEM can then be traded elsewhere for Bitcoin.
The Bitcoin reward that miners receive is an incentive that motivates people to assist in the primary purpose of mining: to legitimize and monitor Bitcoin transactions, ensuring their validity. Because these responsibilities are spread among many users all over the world, Bitcoin is a "decentralized" cryptocurrency, or one that does not rely on any central authority like a central bank or government to oversee its regulation.
Miners are getting paid for their work as auditors. They are doing the work of verifying the legitimacy of Bitcoin transactions. This convention is meant to keep Bitcoin users honest and was conceived by bitcoin's founder, Satoshi Nakamoto. By verifying transactions, miners are helping to prevent the "double-spending problem."
Double spending is a scenario in which a bitcoin owner illicitly spends the same bitcoin twice. With physical currency, this isn't an issue: once you hand someone a $20 bill to buy a bottle of vodka, you no longer have it, so there's no danger you could use that same $20 bill to buy lotto tickets next door. While there is the possibility of counterfeit cash being made, it is not exactly the same as literally spending the same dollar twice. With digital currency, however, as the Investopedia dictionary explains, "there is a risk that the holder could make a copy of the digital token and send it to a merchant or another party while retaining the original."
Let's say you had one legitimate $20 bill and one counterfeit of that same $20. If you were to try to spend both the real bill and the fake one, someone that took the trouble of looking at both of the bills' serial numbers would see that they were the same number, and thus one of them had to be false. What a Bitcoin miner does is analogous to that--they check transactions to make sure that users have not illegitimately tried to spend the same bitcoin twice. This isn't a perfect analogy--we'll explain in more detail below.
Once miners have verified 1 MB (megabyte) worth of bitcoin transactions, known as a "block," those miners are eligible to be rewarded with a quantity of bitcoin (more about the bitcoin reward below as well). The 1 MB limit was set by Satoshi Nakamoto, and is a matter of controversy, as some miners believe the block size should be increased to accommodate more data, which would effectively mean that the bitcoin network could process and verify transactions more quickly.
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Title: Re: Bitcoin mining.
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Note that verifying 1 MB worth of transactions makes a coin miner eligible to earn bitcoin--not everyone who verifies transactions will get paid out.
1MB of transactions can theoretically be as small as one transaction (though this is not at all common) or several thousand. It depends on how much data the transactions take up.
"So after all that work of verifying transactions, I might still not get any bitcoin for it?"
That is correct.
To earn bitcoins, you need to meet two conditions. One is a matter of effort; one is a matter of luck.
1) You have to verify.
1MB worth of transactions. This is the easy part.
2) You have to be the first miner to arrive at the right answer, or closest answer, to a numeric problem. This process is also known as proof of work.
"What do you mean, 'the right answer to a numeric problem'?"
The good news: No advanced math or computation is involved. You may have heard that miners are solving difficult mathematical problems--that's not exactly true. What they're actually doing is trying to be the first miner to come up with a 64-digit hexadecimal number (a "hash") that is less than or equal to the target hash. It's basically guesswork.
The bad news: It's guesswork, but with the total number of possible guesses for each of these problems being on the order of trillions, it's incredibly arduous work. In order to solve a problem first, miners need a lot of computing power. To mine successfully, you need to have a high "hash rate," which is measured in terms of megahashes per second (MH/s), gigahashes per second (GH/s), and terahashes per second (TH/s).
That is a great many hashes.
If you want to estimate how much bitcoin you could mine with your mining rig's hash rate, the site Cryptocompare offers a helpful calculator.
Mining and Bitcoin Circulation.
In addition to lining the pockets of miners and supporting the bitcoin ecosystem, mining serves another vital purpose: It is the only way to release new cryptocurrency into circulation. In other words, miners are basically "minting" currency. For example, as of Nov. 2020, there were around 18.5 million bitcoins in circulation.   Aside from the coins minted via the genesis block (the very first block, which was created by founder Satoshi Nakamoto), every single one of those Bitcoin came into being because of miners. In the absence of miners, Bitcoin as a network would still exist and be usable, but there would never be any additional bitcoin. There will eventually come a time when Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ends; per the Bitcoin Protocol, the total number of bitcoins will be capped at 21 million.   However, because the rate of bitcoin "mined" is reduced over time, the final bitcoin won't be circulated until around the year 2140. This does not mean that transactions will cease to be verified. Miners will continue to verify transactions and will be paid in fees for doing so in order to keep the integrity of Bitcoin's network.
Aside from the short-term Bitcoin payoff, being a coin miner can give you "voting" power when changes are proposed in the Bitcoin network protocol. In other words, miners have a degree of influence on the decision-making process on such matters as forking.
How Much a Miner Earns.
The rewards for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) are reduced by half every four years. When bitcoin was first mined in 2009, mining one block would earn you 50 BTC. In 2012, this was halved to 25 BTC. By 2016, this was halved again to 12.5 BTC. On May 11, 2020, the reward halved again to 6.25 BTC. In November of 2020, the price of Bitcoin was about $17,900 per Bitcoin, which means you'd earn $111,875 (6.25 x 17,900) for completing a block.   Not a bad incentive to solve that complex hash problem detailed above, it might seem.
If you want to keep track of precisely when these halvings will occur, you can consult the Bitcoin Clock, which updates this information in real-time. Interestingly, the market price of bitcoin has, throughout its history, tended to correspond closely to the reduction of new coins entered into circulation. This lowering inflation rate increased scarcity and historically the price has risen with it.
If you are interested in seeing how many blocks have been mined thus far, there are several sites, including Blockchain.info, that will give you that information in real-time.
What Do I Need To Mine Bitcoins?
Although early on in Bitcoin's history individuals may have been able to compete for blocks with a regular at-home computer, this is no longer the case. The reason for this is that the difficulty of mining Bitcoin changes over time. In order to ensure the smooth functioning of the blockchain and its ability to process and verify transactions, the Bitcoin network aims to have one block produced every 10 minutes or so. However, if there are one million mining rigs competing to solve the hash problem, they'll likely reach a solution faster than a scenario in which 10 mining rigs are working on the same problem. For that reason, Bitcoin is designed to evaluate and adjust the difficulty of mining every 2,016 blocks, or roughly every two weeks. When there is more computing power collectively working to mine for Bitcoin, the difficulty level of mining increases in order to keep block production at a stable rate. Less computing power means the difficulty level decreases. To get a sense of just how much computing power is involved, when Bitcoin launched in 2009 the initial difficulty level was one. As of Nov. 2019, it is more than 13 trillion.
All of this is to say that, in order to mine competitively, miners must now invest in powerful computer equipment like a GPU (graphics processing unit) or, more realistically, an application-specific integrated circuit (ASIC). These can run from $500 to the tens of thousands. Some miners--particularly Ethereum miners--buy individual graphics cards (GPUs) as a low-cost way to cobble together mining operations. The photo below is a makeshift, home-made mining machine. The graphics cards are those rectangular blocks with whirring fans. Note the sandwich twist-ties holding the graphics cards to the metal pole. This is probably not the most efficient way to mine, and as you can guess, many miners are in it as much for the fun and challenge as for the money.
The "Explain It Like I'm Five" Version.
The ins and outs of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be difficult to understand as is. Consider this illustrative example of how the hash problem works: I tell three friends that I'm thinking of a number between one and 100, and I write that number on a piece of paper and seal it in an envelope. My friends don't have to guess the exact number; they just have to be the first person to guess any number that is less than or equal to the number I am thinking of. And there is no limit to how many guesses they get.
Let's say I'm thinking of the number 19. If Friend A guesses 21, they lose because of 21>19. If Friend B guesses 16 and Friend C guesses 12, then they've both theoretically arrived at viable answers, because of 16 What Is a "64-Digit Hexadecimal Number"?
Well, here is an example of such a number:
The number above has 64 digits. Easy enough to understand so far. As you probably noticed, that number consists not just of numbers, but also letters of the alphabet. Why is that?
To understand what these letters are doing in the middle of numbers, let's unpack the word "hexadecimal."
As you know, we use the "decimal" system, which means it is base 10. This, in turn, means that every digit of a multi-digit number has 10 possibilities, zero through nine.
"Hexadecimal," on the other hand, means base 16, as "hex" is derived from the Greek word for six and "deca" is derived from the Greek word for 10. In a hexadecimal system, each digit has 16 possibilities. But our numeric system only offers 10 ways of representing numbers (zero through nine). That's why you have to stick letters in, specifically letters a, b, c, d, e, and f.
If you are mining bitcoin, you do not need to calculate the total value of that 64-digit number (the hash). I repeat: You do not need to calculate the total value of a hash.
So, what do "64-digit hexadecimal numbers" have to do with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Remember that ELI5 analogy, where I wrote the number 19 on a piece of paper and put it in a sealed envelope?
In Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) terms, that metaphorical undisclosed number in the envelope is called the target hash.
What miners are doing with those huge computers and dozens of cooling fans is guessing at the target hash. Miners make these guesses by randomly generating as many "nonces" as possible, as fast as possible. A nonce is short for "number only used once," and the nonce is the key to generating these 64-bit hexadecimal numbers I keep talking about. In Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), a nonce is 32 bits in size--much smaller than the hash, which is 256 bits. The first miner whose nonce generates a hash that is less than or equal to the target hash is awarded credit for completing that block and is awarded the spoils of 6.25 BTC.
In theory, you could achieve the same goal by rolling a 16-sided die 64 times to arrive at random numbers, but why on earth would you want to do that?
The screenshot below, taken from the site Blockchain.info, might help you put all this information together at a glance. You are looking at a summary of everything that happened when block #490163 was mined. The nonce that generated the "winning" hash was 731511405. The target hash is shown on top. The term "Relayed by Antpool" refers to the fact that this particular block was completed by AntPool, one of the more successful mining pools (more about mining pools below). As you see here, their contribution to the Bitcoin community is that they confirmed 1768 transactions for this block. If you really want to see all 1768 of those transactions for this block, go to this page and scroll down to the heading "Transactions."
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"So how do I guess at the target hash?"
All target hashes begin with zeros--at least eight zeros and up to 63 zeros.
There is no minimum target, but there is a maximum target set by the Bitcoin Protocol. No target can be greater than this number:
Here are some examples of randomized hashes and the criteria for whether they will lead to success for the miner:
(Note: These are made-up hashes)
"How do I maximize my chances of guessing the target hash before anyone else does?"
You'd have to get a fast mining rig, or, more realistically, join a mining pool--a group of coin miners who combine their computing power and split the mined bitcoin. Mining pools are comparable to those Powerball clubs whose members buy lottery tickets en masse and agree to share any winnings. A disproportionately large number of blocks are mined by pools rather than by individual miners.
In other words, it's literally just a numbers game. You cannot guess the pattern or make a prediction based on previous target hashes. The difficulty level of the most recent block at the time of writing is about 17.59 trillion, meaning that the chance of any given nonce producing a hash below the target is one in 17.59 trillion. Not great odds if you're working on your own, even with a tremendously powerful mining rig.
"How do I decide whether bitcoin will be profitable for me?"
Not only do miners have to factor in the costs associated with expensive equipment necessary to stand a chance of solving a hash problem. They must also consider the significant amount of electrical power mining rigs utilize in generating vast quantities of nonces in search of the solution. All told, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is largely unprofitable for most individual miners as of this writing. The site Cryptocompare offers a helpful calculator that allows you to plug in numbers such as your hash speed and electricity costs to estimate the costs and benefits.
What Are Coin Mining Pools?
Mining rewards are paid to the miner who discovers a solution to the puzzle first, and the probability that a participant will be the one to discover the solution is equal to the portion of the total mining power on the network. Participants with a small percentage of the mining power stand a very small chance of discovering the next block on their own. For instance, a mining card that one could purchase for a couple of thousand dollars would represent less than 0.001% of the network's mining power. With such a small chance at finding the next block, it could be a long time before that miner finds a block, and the difficulty going up makes things even worse. The miner may never recoup their investment. The answer to this problem is mining pools. Mining pools are operated by third parties and coordinate groups of miners. By working together in a pool and sharing the payouts among all participants, miners can get a steady flow of bitcoin starting the day they activate their miner. Statistics on some of the mining pools can be seen on Blockchain.info.
"I've done the math. Forget mining. Is there a less onerous way to profit from cryptocurrencies?"
As mentioned above, the easiest way to acquire bitcoin is to simply buy it on one of the many exchanges. Alternately, you can always leverage the "pickaxe strategy." This is based on the old saw that during the 1849 California gold rush, the smart investment was not to pan for gold, but rather to make the pickaxes used for mining. Or, to put it in modern terms, invest in the companies that manufacture those pickaxes. In a cryptocurrency context, the pickaxe equivalent would be a company that manufactures equipment used for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). You may consider looking into companies that make ASICs equipment or GPUs instead, for example.
The legality of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) depends entirely on your geographic location. The concept of Bitcoin can threaten the dominance of fiat currencies and government control over the financial markets. For this reason, Bitcoin is completely illegal in certain places.
Bitcoin ownership and mining are legal in more countries than not. Some examples of places where it is illegal are Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal, and Pakistan.   Overall, Bitcoin use and mining are legal across much of the globe.
Risks of Mining.
The risks of mining are that of financial risk and a regulatory one. As mentioned, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), and mining in general, is a financial risk. One could go through all the effort of purchasing hundreds or thousands of dollars worth of mining equipment only to have no return on their investment. That said, this risk can be mitigated by joining mining pools. If you are considering mining and live in an area that it is prohibited you should reconsider. It may also be a good idea to research your countries regulation and overall sentiment towards cryptocurrency before investing in mining equipment.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw): How does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work.
Where do new Bitcoins come from? What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and how do you start mining Bitcoin? Fiat currency--government-backed currency such as the Dollar or Euro--is printed by individual countries. But cryptocurrency has its own set of rules. In this article, we'll take a look at where Bitcoin comes from and what it means to be a Bitcoin miner, including some of the overhead costs miners encounter. After all, understanding Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is at the heart of understanding how cryptocurrency works--and why it's a better global economic system than the one we're used to.
Some background on Bitcoin and Bitcoin miners.
Bitcoin is a currency that is both decentralized and deflationary by nature. In other words, it's the opposite of fiat currencies, which are controlled by a central entity and subject to inflation. That's because written into Bitcoin's code is:
A cap of 21 million Bitcoins that can ever be created That Bitcoin is to be governed by a peer network, known as Bitcoin miners , responsible for ensuring the coin's integrity. Approximately every four years, the number of Bitcoins miners receive as a reward for their work is cut in half.
To understand Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and why it exists, let's start by looking at the technology behind Bitcoin. When we take a purely digital currency, how do we keep track of how many Bitcoins each person has? Bitcoin is based on the Blockchain--a giant ledger of every Bitcoin transaction. But unlike a bank account or a private ledger, the Blockchain is not only out in the open for everyone to see, it's also maintained by the very people who use it. These Bitcoin miners use special mining computers and a series of complex algorithms to verify each transaction. Those transactions are then added to the Blockchain, and become an unerasable part of Bitcoin's history. In this way, the currency is both decentralized--that is, it's not controlled by any one government or entity--and tamper-proof.
Accounts for the creation of new Bitcoins Maintains the integrity, authenticity, and safety of the Bitcoin network.
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Creating new Bitcoins.
Why do Bitcoin miners do what they do? Because they earn a Bitcoin reward for their work. This is where the 21 million Bitcoins that can be created come in. Most Bitcoin transactions are trades between people or exchanges of already existing Bitcoin. For example, if you buy Bitcoin from Coinmama, that transaction will be confirmed and then will appear on the Blockchain as part of a block (or several transactions). But as an incentive to confirm that block, the miner who does so first will receive a certain number of brand new Bitcoins as a reward, which is then sent to their Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) wallet.
How many Bitcoins are in the reward? That number changes approximately every four years. When Bitcoin was first released, the number of coins in the reward was 50. Then in 2012, it was cut in half to 25. In 2016, it was halved again to 12.5. And on May 11, 2020, the Bitcoin reward was once again cut in half to 6.25. The reward is cut in half every 210,000 blocks, and because it's written into Bitcoin's code that a new block will be issued every 10 minutes, this Bitcoin Halving takes place approximately every four years. This extends the life of the 21 million Bitcoins that can ever be created, and establishes Bitcoin as a deflationary asset.
Maintaining the integrity of the Blockchain.
The Blockchain is the key to keeping Bitcoin tamper-proof, and the main role of Bitcoin miners is to maintain the integrity of the Bitcoin Blockchain.
When a transaction is made, it's added to a block. Once enough transactions are on a block, that block is confirmed through computing power and added to the Blockchain. Once a block is added to the Blockchain, it is public, and it is almost impossible to alter it. In this way, the Blockchain stays tamper-proof.
But how do miners confirm transactions?
Proof of Work and Proof of Stake.
Cryptocurrency mining requires proving that a transaction is authentic. One way this is done is through Proof of Work . In this method, special computers are used to solve complex cryptographic equations in order to prove that a block of transactions is legitimate. The first miner to solve the problem is the one to get the Bitcoin reward. The downside of Proof of Work is that it takes a lot of time and a lot of electricity, making mining both expensive and slow.
While Bitcoin uses Proof of Work, other cryptocurrencies aim to solve some of its problems by using Proof of Stake . In this method, miners put cryptocurrency they already have into the system, betting that they'll be able to solve the block problem first, and the reward they receive is based proportionally on what they put in.
If it seems unfair that the Bitcoin reward keeps dropping every four years, it's worth looking at the number of Bitcoin in the reward versus the Bitcoin price. At the time of the 2012 Bitcoin Halving, the Bitcoin price was about $12. So a reward of 25 Bitcoin yielded approximately $300. At the time of the 2016 Bitcoin Halving, the reward dropped to 12.5 Bitcoin, but the price had risen to $657. Meaning the Bitcoin reward was $8,212. Currently, the Bitcoin price is approximately $8,500, which means a reward of 6.25 Bitcoin will still yield $53,125.
So why aren't we all Bitcoin miners if we could potentially make $53,125 every 10 minutes? For one thing, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) isn't so simple, and it's definitely not cheap. Successful mining requires a heavy investment in a lot of very expensive equipment. (You can't mine Bitcoin on your home computer.) It also requires a lot of electricity--some people estimate that the amount of electricity required to mine Bitcoin is equal to the amount of electricity required to power a small country--so unless you're living in a country where electricity is very cheap, mining probably isn't worth it. There's also no guarantee that you'll be the first miner to validate a block and earn the reward. In other words, even if you invest in the equipment and electricity, you may not earn back what you've put in. And as the price of Bitcoin rises and the block reward increases in value, the competition among miners heats up as well, making it less probable that you'll be the one to earn the block reward.
The best way to build your Bitcoin portfolio is to buy Bitcoin through an exchange such as Coinmama.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine hardware.
While in the earliest days of Bitcoin you could mine cryptocurrency on your personal computer, today that's no longer possible. The price increase of Bitcoin drove competition up, creating harder and harder algorithms that couldn't be computed on personal equipment. Today if you want to be a Bitcoin miner, you need to build a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig, and invest, at minimum, in a special Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) computer known as an ASIC.
Even with the right Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) computer, it's not worth it to mine alone. That's because as an individual, you'll be competing against Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farms, which have much more equipment, and therefore a much greater chance of reaching the right answer first. One solution some miners have found is to join a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool, or to join forces with other miners. The upside of joining a mining pool is that it gives you more resources and a greater chance of getting the block reward. The downside is that there are often fees involved, and you have to share the block reward with the rest of the pool, making your profit smaller. Still, if you're determined to start mining Bitcoin, it's best to do so through a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool.
At the end of the day, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is an integral part of making Bitcoin work. Without it, the Blockchain wouldn't function properly, Bitcoin transactions wouldn't be confirmed, and Bitcoin would lose all meaning. Miners are essential to the operation of Bitcoin.
Yet for the average person, the investment required to be a successful miner is out of reach and unprofitable. For almost everyone except a small handful of people who not only want to make the investment but also live in one of the best countries to be a Bitcoin miner , the cheapest and most efficient way to get Bitcoin is simply to buy it through an exchange or broker that specializes in the sale of Bitcoin.
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:53 am

Data Mining (https://secure.iqmining.com/tiny/e8NNw): How You're Revealing More Than You Think|11:13
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:54 am
Diversified Portfolios Need Bitcoin.
Investors should look not at the risk and return of individual assets, but at how they blend together into a diversified portfolio.
Coinmama has all the information you need to get informed about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Discover how Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) works, what Bitcoin pools and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware are, and more. Visit Coinmama to learn more today!
Bitcoin Halving 2020: Everything You Need to Know.
Learn all about the Bitcoin Halving 2020 and how it will likely affect the Bitcoin price. Visit Coinmama to get up-to-date information and buy BTC before the Bitcoin Halving takes place!
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10 Moments That Defined Crypto in 2019.
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Back to the future: the Earliest Bitcoin News.
There's no shortage of Bitcoin news, but what did that news look like when BTC first debuted? We take a look at Bitcoin's history through early articles.
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When to Sell Bitcoin: 3 Investment Strategies.
When you make an investment, knowing when to sell is as important as when to buy. But when is the right time to sell Bitcoin? We take a look at three strategies.
Bitcoin HashRate Explained (2019)
If you follow crypto news, you might have seen reports of Bitcoin's hashrate pushing above the 100 exahash (or 0.1 zetahash) level recently. In this article, we'll address all these questions and more. While the topic may seem technical, it's really not that difficult to understand.
How Does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work?🤸‍♂️Beginner Friendly.
In very simple terms, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a payment gateway made up of thousands of computers around the world which compete to solve a puzzle first in exchange for Bitcoin as reward.
Therefore, each time some one sends Bitcoin to another person anywhere around the world, the Bitcoin miner will verify, validate this transaction and get Bitcoin as incentive.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) sounds easy on paper but...
In 2008, it was possible to mine Bitcoin from a simple computer.
Now, if you attempt to mine Bitcoin on your laptop, it would most likely damage your computer.
The way the Bitcoin algorithm is set up, is that the more people enter the system, the more the puzzle becomes more difficult to solve.
Bitcoin has an inbuilt difficulty regulator which is called the "proof-of-work", meaning the more people/computers enter to mine, the harder it will be to solve issue and more efficient tools will be needed.
So, as more people started mining the Bitcoin, the mining difficulty increased.
As the mining difficulty increased, the miners started using GPUs to mine (as shown below).
However, with the Bitcoin halvings and new incoming miners, the GPU miners also became obsolete.
New specialized and efficient mining equipment called ASIC Miners were introduced.
ASIC stands for Application-Specific Integrated Circuit.
ASIC Miners are specialized equipment created for the sole purpose of mining cryptocurrency.
ASIC Miners require some heavy investments and come at a risk:
An ASIC Miner cost around $1500 excluding shipping They are very loud so you would need to put it in an isolated area. They generate a lot of heat and therefore not recommended in warm climates. They consume of lot of energy have been banned in many countries for this reason.
Another risk that many people do not realize when getting into Bitcoin is that they are competing with large mining farms in China and their revenue will be from transaction fees rather than reward blocks.
This is an important factor to consider simply because during bear markets, there are not enough transactions to make it worthwhile.
In 2018, we saw dozens of Youtubers document their loss and quit Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) all together.
Why is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Important.
Bitcoin is a currency as well as a payment gateway.
Bitcoin is not owned by any individual nor government and therefore relies on the mining power of miners to keep the network running.
What if Bitcoin Miners did not exist?
If all the miners decide to stop mining Bitcoin, then Bitcoin transfers would not stop taking place and the network would stop working.
How do bitcoin miners mine bitcoin specifically?
As established above, mining Bitcoin on a basic computer is unrealistic and on a gpu not profitable unless you live in a country with ridiculously cheap electricity.
However, Antminers are usually plug-and-play along with some slight power customization.
SoloMining vs Minepool.
Because the chance of success is too low for individual miners, Bitcoin miners team up to share computing power and therefore increase their chances of rewards.
However, not all Minepools have the same conditions and reward systems.
Because of all the risks involved in buying the hardware to mine Bitcoin, some people have turned to Cloud mining.
Cloudmining basically refers to renting out mining equipment from cloud mining companies such as Genesis Mining and Hashflare.
However, the same principles apply as above and the chances of any significant profit are improbable.
If you would like to know more here are my reviews after testing them:
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Farms.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) requires energy and the only way for it to be profitable is mine Bitcoin large scale.
Greenidge, previously a coal-fired electrical power plant that has converted to natural gas which also supplies electrical power to New York State's residents, is now one of the largest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) facilities uses over 20 megawatts (MW) of power to mine Bitcoin.
Only 21 Million Bitcoins can ever be created and at the time of writing, 18.5 million Bitcoins have been mined so far.
Also the number of new Bitcoins that can be generated get halved every 4 years.
This means that the mining difficulty will also increase.
So if you want to get Bitcoin, it is cheaper and easier just buy bitcoin with a credit card.
Let me know what you decide to do next on Twitter or Facebook 😉 Cheers, Marie Founder of Satoshi Library.
PS Thank you for visiting! And also, if you feel comfortable enough to give me your email, just enter it below and I just might send you an email one of these days 😉
Disclaimer: I am not a financial advisor and the information provided does not replace professional advice. Cryptocurrency prices are highly volatile as well as evolving very quickly. This post may contain inaccuracies, so please do your own research before placing money in any website. Thanks!
How Does the Process of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Work?
Unlike traditional currencies, bitcoins are not printed; instead, bitcoins are mined. If you think that bitcoins are mined by using shovels and other equipment, just like the gold are mined from gold mines, you are mistaken.
Bitcoin is not a physical currency. Thus, the process of getting bitcoins is not the same as the process of getting traditional currencies.
Why is the process called Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Well, just like the gold occurs in gold mines, bitcoins occur in protocol design. As per the bitcoin protocol, only 21 million bitcoins can be mined. By the process of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), miners will bring these 21 million bitcoins to light. Once all of 21 million bitcoins are mined thoroughly, there won't be any bitcoins left to be mined. Miners involved in the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) process get transaction fees for creating blocks and validating different bitcoin transactions.
The working of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is pretty simple and straightforward. To understand how mining works, you have to know about nodes. A node is a powerful computer that runs the software, which helps validate the bitcoin transactions and blocks. The bitcoin network works in a decentralized form, and thus the nodes are collectively responsible for validating bitcoin transactions.
Anyone can quickly run a node. All you need to do is download the bitcoin software. The most significant advantage with the node is that it consumes lots of energy, and it needs lots of storage space; thus, a standard computer with limited storage won't be able to mine bitcoins. The bitcoin network writes hundreds of gigabytes of data. The nodes are used to properly spread bitcoin transactions across the network. One node helps in sending information to a few nodes that it already knows about. Then the other nodes relay information to a few others, and in this way, the bitcoin network functions. You can visit Like this website to get details about how nodes functions.
Among all these types of nodes, some nodes are called mining nodes, and they are usually called miners. These nodes help collaborate different transactions into chunks or blocks, and then, these are added to the bitcoin network. Blockchain technology is the idea behind these fantastic tasks performed by nodes.
The addition of these bitcoins into blocks and networks is like solving a puzzle. When data is combined in the blocks, it has to pass through a hash function. The hash function makes it quite challenging to know what output it will get. Thus, the miners have to guess the mystery number, and they apply the hash function to the combination of the guessed number and the data stored in the block. The hash mostly begins with a certain number of zeroes. There are almost negligible chances of people knowing which number will work. This is because two consecutive numbers used can give a varied range of results. Thus, the miners keep on trying with different block configurations.
The calculations are pretty tricky as the miners don't have any idea or information about how many zeroes are needed at the time of creating hash strings. Thus, it takes at least 10 minutes on an average to process the block.
Ten minutes is needed to process blocks as this is the amount of time required that bitcoin developers think that it will be required to get a steady and diminishing flow of new coins till the time goal of 21 million is reached. As per a few research, the purpose of 21 million will be reached sometime around 2041.
Numerous miners are involved in this task, and the first miner who gets the result announces his/her victory to the rest of the network. Then, all other miners stop working on that block, and they start figuring out the mystery of the next block. As a reward for getting the victory, the miner gets some new bitcoins as rewards.
At present, the reward for getting a victory is 6.25 bitcoins per block. This means it is almost worth $60,000 in June 2020.
Hundreds of miners work day and night to get the reward. The more and better calculation you can perform, the more victory you will get. We hope this article will help you in understanding the functioning of bitcoins.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:54 am

Data Mining (https://secure.iqmining.com/tiny/e8NNw) (Introduction for Business Students)|4:21
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:55 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty - What is it And How Does it Work?
Before we even begin to understand what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) difficulty means, we need to know how mining works. We have covered this topic in detail before, so we will just give you a little overview before getting into the different nuances of difficulty. Following that, we will look at how mining difficulty is calculated and how it changes to suit the network's needs.
How does mining work? How long does it take to mine 1 Bitcoin?
Bitcoin's network has several specialized nodes called "miners" who use specialized equipment to solve cryptographically hard puzzles. If they are successful, then they will get the opportunity to add blocks to the BTC blockchain successfully. This is how it works:
The miner picks up transactions waiting in the mempool and hashes them. They add a random hexadecimal value to the front of the hash and hashes the entire value.
This hash needs to be less than a particular value, which is called "difficulty."
What determines Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) difficulty? Why does BTC difficulty increase?
#1 To maintain network integrity.
The level of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) difficulty increases or decreases according to the ease of mining within the protocol. Remember, Bitcoin needs to have a consistent block time of 10 minutes. In other words, new BTC can be injected into the circulating supply every 10 minutes. To make sure that this timing doesn't change the Bitcoin protocol:
Increases network difficulty when it becomes easier for miners to mine. Decrease network difficulty when it becomes harder for miners to mine.
The Bitcoin network has a universal block difficulty. All valid blocks must have a hash below the target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares.
#2 Relationship with hash rate.
One of the critical metrics in judging the health of a proof-of-work network is hash rate. Simply put, hashrate shows you how powerful the miners are within the network. Higher the bitcoin network hashrate, higher it's overall security and speed. However, these networks need to keep their hashrate under control for consistent block production. This is why, when hashrate becomes high, the bitcoin difficulty eventually gets higher as well, making it tougher for miners to mine easily within the network.
The inverse is also true.
If Bitcoin's hashrate decreases, the network difficulty will reduce as well. Hashrate may decrease because of the following reasons:
Bitcoin currently has a high difficulty, which is why the miners are having a tough time mining in the system. The price of BTC went down, which is why a lot of miners quit mining.
To understand the correlation between the two, let's check out their graphs. Up first, we have the hash rate.
After that, we have the bitcoin difficulty chart:
As you can see, there is a very close correlation between the two. Around March 26, the network difficulty fell by 16% from 16.55 trillion to 13.9 trillion. This was the largest crash in network difficulty since early 2013. To understand why this happened this time around, look at how the hashrate dropped as well just before the bitcoin difficulty drop. This dip occurred because of Bitcoin's price crash, which forced a lot of miners to quit operations.
How does Bitcoin calculate difficulty?
Bitcoin's network difficulty changes every 2016 blocks. The formula used by the network to calculate difficulty goes like this:
difficulty = difficulty_1_target / current_target.
In the formula above:
target is a 256-bit number. As per Bitcoin's protocol, the targets are a custom floating-point type with limited accuracy. Bitcoin clients approximate difficulty based on this fact. This value is also known as bdiff. difficulty_1_target can be different depending on how you choose to measure difficulty. Traditionally, it represents a hash where the leading 32 bits are zero and the rest are one. In fact, this value is also known as pool difficulty or pdiff.
Every single block stores a packed representation of bitcoin difficulty in their blocks called "Bits." This target usually appear as 0x1b0404cb (stored in little-endian order: cb 04 04 1b).
A block calculates the target value via a predetermined formula. Eg. With the packed target given above, i.e. 0x1b0404cb. The hexadecimal target is:
0x0404cb * 2**(8*(0x1b - 3)) = 0x00000000000404CB000000000000000000000000000000000000000000000000.
Now let's calculate bdiff and pdiff.
The highest possible target (difficulty_1_target) is defined as 0x1d00ffff or, in hex form:
0x00ffff * 2**(8*(0x1d - 3)) = 0x00000000FFFF0000000000000000000000000000000000000000000000000000.
Now that we know this value, we can use this to calculate our bdiff using the difficulty = difficulty_1_target / current_target formula.
Now, as we have defined in the previous section, the current_target is 0x1b0404cb or 0x00000000000404CB000000000000000000000000000000000000000000000000.
So, to calculate current difficulty:
Hence, bdiff is 16307.420938523983.
Now, let's calculate the pdiff. Mining pools tend to use non-truncated targets which puts difficulty_1_target at 0x00000000FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF.
If that's the case then for the same current_target, our pdiff will be:
Here is a program code taken from Bitcoin wiki which relies on logs to make difficulty calculation easier:
inline float fast_log(float val)
int * const exp_ptr = reinterpret_cast (&val);
std::cout How do you set a mining difficulty?
Miners use specialized ASIC hardware to mine Bitcoins. These machines are extremely fast and produce tetrahashes every single second. It will be extremely impractical for a system to painstakingly check every single one of them to see if they satisfy all the necessary conditions, or not. This is exponentially true for mining pools. They can't check all the hashes produced by a bitcoin miner every single second. This is why mining pools use a concept called "Share Time."
So, let's imagine that your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool has set a Share Time of 5 seconds. This means that, on average, your mining pool will require miners to submit a share to them every 5 seconds.
How exactly is this done?
Your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool will set a value called Share Difficulty for every miner. The share difficulty of a miner is directly proportional to their individual hashrate. As such, higher the miner's hashrate, higher their Share Difficulty. The idea is that the miner will use their equipment to generate tons of hashes. The moment they find a hash that meets the target Share Difficulty, they will send the hash to the pool.
How are the miners rewarded?
Miners in the pool are rewarded on a "Pay per share" (PPS) basis. In this system, the miners get rewarded for the shares they submit. The values of the shares are entirely dependent on how difficult it was to discover the share.
Let's take an example to see how this works:
Suppose you are a miner with an individual hashrate of 50 TH/s. The mining pool that you have joined has set your Share Difficulty at 1,000,000. The moment that you get shares above 1,000,000, you'll be rewarded by the pool. The pool may change your difficulty to make sure that you are not submitting your shares too quickly. Now, if you buy some new equipment and increase your hashrate to 150 TH/s, the pool will increase your difficulty to 3,000,000. You will be submitting shares at the same rate that you were previously submitting. However, you'll get 3 times the reward that you were previously receiving for the shares you submit. The reason why pools recommend higher difficulties for faster hardware is to reduce network load on both the miner's system and the pool. It also reduces decreases the restart delay for your mining hardware as it prepares for the next work unit. At the same time, the pool must be careful not to set the difficulty too high which will result in a lot of stale shares.
NOTE: Share Target = 1 / Share Difficulty.
The Importance of Difficulty in Nakamoto consensus.
To understand how critical difficulty is to Bitcoin's ecosystem, you need to know how Nakamoto consensus works. For a wide area network with no centralized entity, consensus protocols are the only way to maintain any form of governance. Traditional consensus algorithms like Raft are not ideal for maintaining a wide-area cryptoeconomic protocol. This is why Satoshi Nakamoto, the creator of Bitcoin, came up with Nakamoto consensus. The central tenet of the Nakamoto consensus is that to participate in the system, one must pay a price. In the case of proof-of-work (POW), i.e., Bitcoin's consensus, miners pay a price with "work." Work, in this case, is the heavy amount of computational energy that a miner must spend to mine one Bitcoin. This is where difficulty comes in. Difficulty is the metric that makes Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hard, plus, this is what Nakamoto consensus leverages to solve the double spending problem.
What is double spending?
Double spending is the reason why all the attempts at creating a decentralized cryptocurrency had failed miserably before Bitcoin. In simple terms, it is a flaw that can allow one Bitcoin to be spent more than once at the same time. We never encountered this issue while dealing with physical cash. After all, if you are buying something with a $10 note, you can't simultaneously purchase something else with that same note, right?
However, a digital token has digital files that can be easily duplicated, leading to inevitable double spending. As you can imagine, double spending can have several devastating effects on the ecosystem's economy:
Firstly, it inflates the total supply of the coins within the ecosystem, which throws the supply-demand equation out of control. Secondly, if anyone, anywhere can spend the same coin without restriction, it will reduce the people's faith in the sanctity of that currency.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:56 am

DATA MINING - The Checkout - ABC1|5:43
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:57 am
Bitcoin requires all the transactions to be included in the blockchain, without fail. This makes sure that anyone in the network can trace every single Bitcoin right to its very source. Such a high level of transparency ensures no one will be able to double spend without the entire network noticing. However, let's think of something more diabolical. Suppose, someone decides to hijack the blockchain by forking out and try to double spend all the Bitcoins.
What happens then?
Well, it turns out that due to network difficulty, the amount of resources and money that the attacker will need to take over the chain will be exponential. As such, it will simply not be economically worth it for them to act against the interests of the system. This is how network difficulty gives Nakamoto Consensus the firepower it needs to maintain network security and integrity.
Conclusion - Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty.
We hope that you found a lot of value in this article. If you have some doubts, then feel free to reach out to us at any time.
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty.
This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the hashcash function.
The Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:58 am
What is Mining Difficulty?
Mining difficulty or just "difficulty" is a measure or a network-wide setting that indicates how much effort is required by miners to find a proof-of-work.
In Bitcoin, a proof-of-work is just a piece of data - or more precisely a number - which falls below a predetermined difficulty target that is continually and automatically readjusted by the Bitcoin protocol.
For miners competing in the Bitcoin network, finding or generating this number involves repeatedly hashing the header of the block until the hashing algorithm spits out an output that falls below the aforementioned pre-set difficulty target.
But why do miners do that in the first place?
Miners expend computational energy and compete to find the proof-of-work because finding the proof-of-work is the only way to validate blocks, and validating blocks is how miners in the Bitcoin network make their living.
The first miner to validate a block gets to create a unique transaction, called a coinbase transaction, whereby the miner rewards himself with a set amount of newly minted bitcoins.
How Do Miners Find Proof-of-Work?
The process of hashing is, in fact, quite simple but requires an enormous amount of computational energy.
Put simply, hashing is the transformation of a string of characters (the input) into a usually shorter, fixed-length value or key (the output) that represents the original string.
The trick with hashing is that, while running the same input through the same hashing algorithm always gets us the same output, changing only the smallest bit of the input and running it through the same algorithm changes the output completely.
In order to find the proof-of-work, miners must repeatedly change the input (which is consisted of the block header - the part that stays the same - and a random number called a nonce - which is the variable that miners change to get a different output) and run it through the SHA256 cryptographic algorithm until they find a hash that meets the preset difficulty target.
Using sophisticated mining hardware called ASICs (Application-Specific Integrated Circuits), miners can make hundreds of thousands of these calculations per second.
It takes the entire network of miners roughly 10 minutes to find and validate a new block of transactions.
Why Is Difficulty Important?
The moving or self-readjusting difficulty target is a crucial component of Bitcoin security for several reasons, but mainly because it ensures the network's neutrality by preventing any single miner from taking full control over the protocol.
The ever-changing difficulty target ensures that the Bitcoin protocol runs smoothly and that a new block is validated and added to the Bitcoin blockchain roughly every 10 minutes on average. This 10-minute interval between blocks is better known as block time.
Difficulty matters for more than just protocol security. Maintaining a stable block time has substantial monetary implications. If miners start mining blocks faster, they'll generate bitcoins faster, which in turn translates into a higher inflation rate.
Maintaining a low, fixed and predictable inflation rate is essential for a scarce digital asset such as Bitcoin.
How Does Bitcoin Difficulty Change?
In order to keep the block time fixed as more miners join and/or leave the network, the Bitcoin protocol must keep pace and continually readjust the mining difficulty accordingly.
The average block time of the Bitcoin network is evaluated every 2106 blocks (roughly every two weeks); if the block time is greater than 10 minutes, then the difficulty will be reduced, and if it's less than 10 minutes, the difficulty level will be increased.
In other words, if the cumulative hash power of the network rises, the Bitcoin protocol will readjust and make it harder for miners to find the proof-of-work. And, conversely, if the cumulative hash power drops, the difficulty will drop to make it easier for miners to validate blocks and keep the interlude between each new block and the previous one fixed at.
It's important to note that not every cryptocurrency in existence is designed with the same block time in mind. Ethereum, for example, aims for an average block time of 20 seconds, while Litecoin aims for a block time of 2.5 minutes.
You may be wondering: "How does the Bitcoin blockchain know if block times have been longer or shorter than ten minutes on average? Wouldn't this require an oracle to keep track of block times?"
Good question. The way the blockchain "knows" how much time the average block has taken during this difficulty period is by referencing timestamps left by the miners of each block. To some extent, there are protocol rules in place that prevent a miner from lying about the timestamp. If you want to know more, you can read this guide from Bitmex's blog.
How Does Difficulty Affect Miners?
Difficulty directly impacts miner profitability. Difficulty adjustments make it easier or harder for active miners to find new blocks and earn bitcoins.
Greater difficulty means that miners need more hashing power to secure the same chance of winning a block reward. Since in today's world nearly all individual miners join mining pools, greater difficulty means that miners will earn fewer bitcoins per unit of hash power contributed to the mining pool or per unit of electricity consumed.
Usually, when the Bitcoin network experiences a drop in mining difficulty, that means that the price of bitcoin was too low and the most inefficient miners couldn't cover their operating costs and had to stop mining.
If you are interested in mining, make sure to check out our mining profitablity calculator before you get started.
When inefficient miners shut their mining rigs off, the efficient miners that survive get to experience greater profit margins -- but only for a short period of time. In free markets with relatively low barriers to entry, high margins tend to attract competition.
In that way, the Bitcoin protocol - through the moving difficulty target - acts as a self-stabilizing ecosystem.
Higher margins attract more miners. More miners results in greater difficulty. Greater difficulty means lower margins. Lower margins translate into greater sell pressure for inefficient miners. The selling pressure then further lowers the price by increasing the bitcoin supply while the demand (presumably) stays the same.
This then leads to miner capitulation and a drop in difficulty, which then means higher margins for the efficient miners, which again attracts more miner competition and we arrive back where we started.
Another aspect of the mining business that affects profiit is taxes. Every miner needs to know the relevant tax laws for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in his part of the world, which is why it is so important to use a crypto tax software when calculating profits.
Is There a Maximum Difficulty?
Yes, but getting to the maximum difficulty is practically impossible.
The maximum difficulty is a ridiculously huge number (about 2^224), which quite literally means that to mine a block with this difficulty would require all the energy in the universe.
Understanding how difficulty fits into the Bitcoin blockchain is crucial to understanding how Bitcoin secures its transactions.
Difficulty adjustments keep Bitcoin blocks consistent (for the most part) and their reliablity over the past 10 years is impressive.
Historical Difficulty Adjustments.
Below you can see all the difficulty adjustments since the beginning of Bitcoin.
Height Difficulty Change Average Block 641,088 16,847,561,611,550 - 16.85 T - 2.87 % 10 min 18 s 639,072 17,345,948,872,516 - 17.35 T + 9.89 % 09 min 07 s 637,056 15,784,217,546,288 - 15.78 T 0.00 % 10 min 01 s 635,040 15,784,744,305,477 - 15.78 T + 14.95 % 08 min 42 s 633,024 13,732,352,106,018 - 13.73 T - 9.29 % 11 min 01 s 631,008 15,138,043,247,082 - 15.14 T - 6.00 % 10 min 39 s 628,992 16,104,807,485,529 - 16.10 T + 0.92 % 09 min 55 s 626,976 15,958,652,328,578 - 15.96 T + 8.45 % 09 min 14 s 624,960 14,715,214,060,656 - 14.72 T + 5.77 % 09 min 28 s 622,944 13,912,524,048,945 - 13.91 T - 15.95 % 11 min 54 s 620,928 16,552,923,967,337 - 16.55 T + 6.88 % 09 min 22 s 618,912 15,486,913,440,292 - 15.49 T - 0.38 % 10 min 02 s 616,896 15,546,745,765,529 - 15.55 T + 0.52 % 09 min 57 s 614,880 15,466,098,935,554 - 15.47 T + 4.67 % 09 min 33 s 612,864 14,776,367,535,688 - 14.78 T + 7.08 % 09 min 20 s 610,848 13,798,783,827,516 - 13.80 T + 6.57 % 09 min 24 s 608,832 12,948,593,420,946 - 12.95 T + 0.56 % 09 min 57 s 606,816 12,876,842,089,682 - 12.88 T - 0.74 % 10 min 05 s 604,800 12,973,235,968,799 - 12.97 T + 1.99 % 09 min 49 s 602,784 12,720,005,267,390 - 12.72 T - 7.10 % 10 min 46 s 600,768 13,691,480,038,694 - 13.69 T + 5.25 % 09 min 31 s 598,752 13,008,091,666,971 - 13.01 T + 1.95 % 09 min 49 s 596,736 12,759,819,404,408 - 12.76 T + 7.31 % 09 min 20 s 594,720 11,890,594,958,795 - 11.89 T + 10.38 % 09 min 04 s 592,704 10,771,996,663,680 - 10.77 T + 5.78 % 09 min 27 s 590,688 10,183,488,432,890 - 10.18 T + 1.98 % 09 min 49 s 588,672 9,985,348,008,059 - 9.99 T + 10.78 % 09 min 02 s 586,656 9,013,786,945,891 - 9.01 T - 0.56 % 10 min 04 s 584,640 9,064,159,826,491 - 9.06 T + 14.23 % 08 min 46 s 582,624 7,934,713,219,630 - 7.93 T + 7.09 % 09 min 21 s 580,608 7,409,399,249,090 - 7.41 T - 0.67 % 10 min 04 s 578,592 7,459,680,720,542 - 7.46 T + 11.26 % 09 min 00 s 576,576 6,704,632,680,587 - 6.70 T + 0.04 % 10 min 00 s 574,560 6,702,169,884,349 - 6.70 T + 5.50 % 09 min 29 s 572,544 6,353,030,562,983 - 6.35 T - 0.63 % 10 min 04 s 570,528 6,393,023,717,201 - 6.39 T + 0.22 % 09 min 59 s 568,512 6,379,265,451,411 - 6.38 T + 5.11 % 09 min 31 s 566,496 6,068,891,541,676 - 6.07 T - 0.05 % 10 min 00 s 564,480 6,071,846,049,920 - 6.07 T + 0.17 % 09 min 59 s 562,464 6,061,518,831,027 - 6.06 T + 4.25 % 09 min 36 s 560,448 5,814,661,935,891 - 5.81 T - 1.18 % 10 min 08 s 558,432 5,883,988,430,955 - 5.88 T + 4.72 % 09 min 33 s 556,416 5,618,595,848,853 - 5.62 T + 10.03 % 09 min 06 s 554,400 5,106,422,924,659 - 5.11 T - 9.56 % 11 min 03 s 552,384 5,646,403,851,534 - 5.65 T - 15.13 % 11 min 47 s 550,368 6,653,303,141,405 - 6.65 T - 7.39 % 10 min 48 s 548,352 7,184,404,942,701 - 7.18 T + 0.02 % 10 min 00 s 546,336 7,182,852,313,938 - 7.18 T - 3.65 % 10 min 23 s 544,320 7,454,968,648,263 - 7.45 T + 4.23 % 09 min 36 s 542,304 7,152,633,351,906 - 7.15 T + 1.90 % 09 min 49 s 540,288 7,019,199,231,177 - 7.02 T + 4.34 % 09 min 36 s 538,272 6,727,225,469,722 - 6.73 T + 5.29 % 09 min 30 s 536,256 6,389,316,883,511 - 6.39 T + 7.39 % 09 min 20 s 534,240 5,949,437,371,609 - 5.95 T + 14.88 % 08 min 42 s 532,224 5,178,671,069,072 - 5.18 T - 3.45 % 10 min 22 s 530,208 5,363,678,461,481 - 5.36 T + 5.64 % 09 min 28 s 528,192 5,077,499,034,879 - 5.08 T + 2.77 % 09 min 44 s 526,176 4,940,704,885,521 - 4.94 T + 14.71 % 08 min 43 s 524,160 4,306,949,573,981 - 4.31 T + 3.94 % 09 min 38 s 522,144 4,143,878,474,754 - 4.14 T + 3.03 % 09 min 43 s 520,128 4,022,059,196,164 - 4.02 T + 4.76 % 09 min 33 s 518,112 3,839,316,899,029 - 3.84 T + 9.35 % 09 min 09 s 516,096 3,511,060,552,899 - 3.51 T + 1.40 % 09 min 52 s 514,080 3,462,542,391,191 - 3.46 T + 5.23 % 09 min 30 s 512,064 3,290,605,988,755 - 3.29 T + 9.42 % 09 min 10 s 510,048 3,007,383,866,429 - 3.01 T + 4.62 % 09 min 34 s 508,032 2,874,674,234,415 - 2.87 T + 10.43 % 09 min 03 s 506,016 2,603,077,300,218 - 2.60 T + 16.84 % 08 min 34 s 504,000 2,227,847,638,503 - 2.23 T + 15.36 % 08 min 40 s 501,984 1,931,136,454,487 - 1.93 T + 3.10 % 09 min 42 s 499,968 1,873,105,475,221 - 1.87 T + 17.74 % 08 min 30 s 497,952 1,590,896,927,258 - 1.59 T + 18.11 % 08 min 28 s 495,936 1,347,001,430,558 - 1.35 T - 1.28 % 10 min 08 s 493,920 1,364,422,081,125 - 1.36 T - 6.09 % 10 min 40 s 491,904 1,452,839,779,145 - 1.45 T + 21.39 % 08 min 14 s 489,888 1,196,792,694,098 - 1.20 T + 6.49 % 09 min 24 s 487,872 1,123,863,285,132 - 1.12 T + 1.85 % 09 min 49 s 485,856 1,103,400,932,964 - 1.10 T + 19.58 % 08 min 22 s 483,840 922,724,699,725 - 922.72 G + 3.89 % 09 min 38 s 481,824 888,171,856,257 - 888.17 G - 3.80 % 10 min 24 s 479,808 923,233,068,448 - 923.23 G + 7.32 % 09 min 20 s 477,792 860,221,984,436 - 860.22 G + 6.92 % 09 min 21 s 475,776 804,525,194,568 - 804.53 G + 13.53 % 08 min 49 s 473,760 708,659,466,230 - 708.66 G - 0.43 % 10 min 03 s 471,744 711,697,198,173 - 711.70 G + 4.85 % 09 min 33 s 469,728 678,760,110,082 - 678.76 G + 13.90 % 08 min 47 s 467,712 595,921,917,085 - 595.92 G + 6.42 % 09 min 24 s 465,696 559,970,892,890 - 559.97 G + 7.28 % 09 min 20 s 463,680 521,974,519,553 - 521.97 G + 0.22 % 09 min 59 s 461,664 520,808,749,422 - 520.81 G + 4.24 % 09 min 36 s 459,648 499,635,929,816 - 499.64 G + 5.03 % 09 min 32 s 457,632 475,705,205,061 - 475.71 G + 3.24 % 09 min 41 s 455,616 460,769,358,090 - 460.77 G + 4.54 % 09 min 34 s 453,600 440,779,902,286 - 440.78 G + 4.41 % 09 min 35 s 451,584 422,170,566,883 - 422.17 G + 7.43 % 09 min 19 s 449,568 392,963,262,344 - 392.96 G + 16.64 % 08 min 35 s 447,552 336,899,932,795 - 336.90 G + 6.05 % 09 min 26 s 445,536 317,688,400,354 - 317.69 G + 2.43 % 09 min 46 s 443,520 310,153,855,703 - 310.15 G + 8.16 % 09 min 15 s 441,504 286,765,766,820 - 286.77 G + 1.76 % 09 min 50 s 439,488 281,800,917,193 - 281.80 G + 10.68 % 09 min 02 s 437,472 254,620,187,304 - 254.62 G + 0.40 % 09 min 58 s 435,456 253,618,246,641 - 253.62 G - 1.90 % 10 min 13 s 433,440 258,522,748,404 - 258.52 G + 7.17 % 09 min 20 s 431,424 241,227,200,229 - 241.23 G + 6.82 % 09 min 22 s 429,408 225,832,872,179 - 225.83 G + 2.30 % 09 min 47 s 427,392 220,755,908,330 - 220.76 G + 1.56 % 09 min 51 s 425,376 217,375,482,757 - 217.38 G + 7.67 % 09 min 17 s 423,360 201,893,210,853 - 201.89 G - 5.43 % 10 min 35 s 421,344 213,492,501,107 - 213.49 G + 0.04 % 10 min 00 s 419,328 213,398,925,331 - 213.40 G + 1.88 % 09 min 49 s 417,312 209,453,158,595 - 209.45 G + 6.83 % 09 min 22 s 415,296 196,061,423,939 - 196.06 G - 1.63 % 10 min 10 s 413,280 199,312,067,531 - 199.31 G + 2.60 % 09 min 45 s 411,264 194,254,820,283 - 194.25 G + 8.73 % 09 min 12 s 409,248 178,659,257,772 - 178.66 G - 0.01 % 10 min 00 s 407,232 178,678,307,671 - 178.68 G + 7.09 % 09 min 20 s 405,216 166,851,513,282 - 166.85 G + 0.82 % 09 min 55 s 403,200 165,496,835,118 - 165.50 G + 4.46 % 09 min 34 s 401,184 158,427,203,767 - 158.43 G - 3.10 % 10 min 19 s 399,168 163,491,654,908 - 163.49 G + 13.44 % 08 min 49 s 397,152 144,116,447,847 - 144.12 G + 20.06 % 08 min 20 s 395,136 120,033,340,651 - 120.03 G + 5.89 % 09 min 27 s 393,120 113,354,299,801 - 113.35 G + 9.12 % 09 min 10 s 391,104 103,880,340,815 - 103.88 G + 11.16 % 09 min 00 s 389,088 93,448,670,796 - 93.45 G + 18.14 % 08 min 28 s 387,072 79,102,380,900 - 79.10 G + 8.77 % 09 min 12 s 385,056 72,722,780,642 - 72.72 G + 10.44 % 09 min 04 s 383,040 65,848,255,179 - 65.85 G + 5.77 % 09 min 27 s 381,024 62,253,982,449 - 62.25 G + 2.25 % 09 min 47 s 379,008 60,883,825,480 - 60.88 G + 0.12 % 09 min 59 s 376,992 60,813,224,039 - 60.81 G + 2.49 % 09 min 46 s 374,976 59,335,351,233 - 59.34 G + 4.17 % 09 min 36 s 372,960 56,957,648,455 - 56.96 G + 4.98 % 09 min 32 s 370,944 54,256,630,327 - 54.26 G + 2.95 % 09 min 43 s 368,928 52,699,842,409 - 52.70 G + 0.81 % 09 min 56 s 366,912 52,278,304,845 - 52.28 G + 2.35 % 09 min 46 s 364,896 51,076,366,303 - 51.08 G + 3.39 % 09 min 41 s 362,880 49,402,014,931 - 49.40 G - 0.58 % 10 min 04 s 360,864 49,692,386,354 - 49.69 G + 4.42 % 09 min 35 s 358,848 47,589,591,153 - 47.59 G - 2.50 % 10 min 15 s 356,832 48,807,487,244 - 48.81 G + 2.44 % 09 min 46 s 354,816 47,643,398,017 - 47.64 G + 0.07 % 10 min 00 s 352,800 47,610,564,513 - 47.61 G - 3.71 % 10 min 23 s 350,784 49,446,390,688 - 49.45 G + 5.84 % 09 min 27 s 348,768 46,717,549,644 - 46.72 G - 1.50 % 10 min 09 s 346,752 47,427,554,950 - 47.43 G + 1.59 % 09 min 51 s 344,736 46,684,376,316 - 46.68 G + 5.01 % 09 min 32 s 342,720 44,455,415,962 - 44.46 G + 7.71 % 09 min 17 s 340,704 41,272,873,894 - 41.27 G - 6.14 % 10 min 39 s 338,688 43,971,662,056 - 43.97 G + 8.20 % 09 min 15 s 336,672 40,640,955,016 - 40.64 G + 3.00 % 09 min 43 s 334,656 39,457,671,307 - 39.46 G - 1.37 % 10 min 09 s 332,640 40,007,470,271 - 40.01 G - 0.73 % 10 min 04 s 330,624 40,300,030,327 - 40.30 G + 1.76 % 09 min 51 s 328,608 39,603,666,252 - 39.60 G + 10.05 % 09 min 05 s 326,592 35,985,640,265 - 35.99 G + 2.81 % 09 min 44 s 324,576 35,002,482,026 - 35.00 G + 0.98 % 09 min 54 s 322,560 34,661,425,923 - 34.66 G + 16.20 % 08 min 36 s 320,544 29,829,733,124 - 29.83 G + 8.75 % 09 min 11 s 318,528 27,428,630,902 - 27.43 G + 15.03 % 08 min 42 s 316,512 23,844,670,038 - 23.84 G + 20.86 % 08 min 17 s 314,496 19,729,645,940 - 19.73 G + 5.30 % 09 min 30 s 312,480 18,736,441,558 - 18.74 G + 8.08 % 09 min 15 s 310,464 17,336,316,978 - 17.34 G + 3.08 % 09 min 44 s 308,448 16,818,461,371 - 16.82 G + 24.93 % 08 min 00 s 306,432 13,462,580,114 - 13.46 G + 14.51 % 08 min 44 s 304,416 11,756,551,916 - 11.76 G + 12.44 % 08 min 54 s 302,400 10,455,720,138 - 10.46 G + 18.10 % 08 min 28 s 300,384 8,853,416,309 - 8.85 G + 10.66 % 09 min 02 s 298,368 8,000,872,135 - 8.00 G + 14.64 % 08 min 44 s 296,352 6,978,842,649 - 6.98 G + 14.04 % 08 min 46 s 294,336 6,119,726,089 - 6.12 G + 22.23 % 08 min 11 s 292,320 5,006,860,589 - 5.01 G + 17.80 % 08 min 29 s 290,304 4,250,217,919 - 4.25 G + 11.39 % 08 min 59 s 288,288 3,815,723,798 - 3.82 G + 21.92 % 08 min 12 s 286,272 3,129,573,174 - 3.13 G + 19.39 % 08 min 23 s 284,256 2,621,404,453 - 2.62 G + 19.49 % 08 min 23 s 282,240 2,193,847,870 - 2.19 G + 22.59 % 08 min 10 s 280,224 1,789,546,951 - 1.79 G + 26.16 % 07 min 56 s 278,208 1,418,481,395 - 1.42 G + 20.12 % 08 min 20 s 276,192 1,180,923,195 - 1.18 G + 30.01 % 07 min 43 s 274,176 908,350,862 - 908.35 M + 28.41 % 07 min 47 s 272,160 707,408,283 - 707.41 M + 16.07 % 08 min 37 s 270,144 609,482,679 - 609.48 M + 19.29 % 08 min 25 s 268,128 510,929,738 - 510.93 M + 30.70 % 07 min 40 s 266,112 390,928,787 - 390.93 M + 46.02 % 06 min 51 s 264,096 267,731,249 - 267.73 M + 41.45 % 07 min 04 s 262,080 189,281,249 - 189.28 M + 27.19 % 07 min 52 s 260,064 148,819,199 - 148.82 M + 32.13 % 07 min 34 s 258,048 112,628,548 - 112.63 M + 29.56 % 07 min 43 s 256,032 86,933,017 - 86.93 M + 32.22 % 07 min 34 s 254,016 65,750,060 - 65.75 M + 29.40 % 07 min 44 s 252,000 50,810,339 - 50.81 M + 35.88 % 07 min 22 s 249,984 37,392,766 - 37.39 M + 19.63 % 08 min 22 s 247,968 31,256,960 - 31.26 M + 19.47 % 08 min 23 s 245,952 26,162,875 - 26.16 M + 22.63 % 08 min 09 s 243,936 21,335,329 - 21.34 M + 10.32 % 09 min 04 s 241,920 19,339,258 - 19.34 M + 23.92 % 08 min 04 s 239,904 15,605,632 - 15.61 M + 28.41 % 07 min 48 s 237,888 12,153,411 - 12.15 M + 8.64 % 09 min 12 s 235,872 11,187,257 - 11.19 M + 11.03 % 09 min 01 s 233,856 10,076,292 - 10.08 M + 12.28 % 08 min 55 s 231,840 8,974,296 - 8.97 M + 16.96 % 08 min 33 s 229,824 7,672,999 - 7.67 M + 14.59 % 08 min 44 s 227,808 6,695,826 - 6.70 M + 38.13 % 07 min 15 s 225,792 4,847,647 - 4.85 M + 10.98 % 09 min 01 s 223,776 4,367,876 - 4.37 M + 19.63 % 08 min 22 s 221,760 3,651,011 - 3.65 M + 11.47 % 08 min 58 s 219,744 3,275,464 - 3.28 M + 10.33 % 09 min 04 s 217,728 2,968,775 - 2.97 M - 8.64 % 10 min 57 s 215,712 3,249,549 - 3.25 M + 9.06 % 09 min 11 s 213,696 2,979,636 - 2.98 M - 11.59 % 11 min 19 s 211,680 3,370,181 - 3.37 M - 2.00 % 10 min 12 s 209,664 3,438,908 - 3.44 M + 2.08 % 09 min 48 s 207,648 3,368,767 - 3.37 M + 1.95 % 09 min 49 s 205,632 3,304,356 - 3.30 M + 7.55 % 09 min 20 s 203,616 3,072,321 - 3.07 M + 0.58 % 09 min 56 s 201,600 3,054,627 - 3.05 M + 6.65 % 09 min 22 s 199,584 2,864,140 - 2.86 M + 6.31 % 09 min 24 s 197,568 2,694,047 - 2.69 M + 10.38 % 09 min 04 s 195,552 2,440,642 - 2.44 M + 11.40 % 08 min 59 s 193,536 2,190,865 - 2.19 M + 7.57 % 09 min 18 s 191,520 2,036,671 - 2.04 M + 9.12 % 09 min 11 s 189,504 1,866,391 - 1.87 M + 6.56 % 09 min 23 s 187,488 1,751,454 - 1.75 M + 1.44 % 09 min 52 s 185,472 1,726,566 - 1.73 M + 9.06 % 09 min 10 s 183,456 1,583,177 - 1.58 M - 0.50 % 10 min 03 s 181,440 1,591,074 - 1.59 M - 8.20 % 10 min 54 s 179,424 1,733,207 - 1.73 M + 14.89 % 08 min 42 s 177,408 1,508,589 - 1.51 M - 4.39 % 10 min 28 s 175,392 1,577,913 - 1.58 M - 2.99 % 10 min 19 s 173,376 1,626,553 - 1.63 M + 8.56 % 09 min 13 s 171,360 1,498,294 - 1.50 M + 0.09 % 10 min 00 s 169,344 1,496,978 - 1.50 M + 8.77 % 09 min 12 s 167,328 1,376,302 - 1.38 M - 0.24 % 10 min 02 s 165,312 1,379,647 - 1.38 M + 5.50 % 09 min 29 s 163,296 1,307,728 - 1.31 M + 4.55 % 09 min 34 s 161,280 1,250,757 - 1.25 M + 7.83 % 09 min 17 s 159,264 1,159,929 - 1.16 M + 0.42 % 09 min 58 s 157,248 1,155,038 - 1.16 M + 5.90 % 09 min 27 s 155,232 1,090,715 - 1.09 M - 8.54 % 10 min 56 s 153,216 1,192,497 - 1.19 M - 0.91 % 10 min 06 s 151,200 1,203,461 - 1.20 M - 18.03 % 12 min 12 s 149,184 1,468,195 - 1.47 M - 13.09 % 11 min 31 s 147,168 1,689,334 - 1.69 M - 3.76 % 10 min 24 s 145,152 1,755,425 - 1.76 M - 1.26 % 10 min 08 s 143,136 1,777,774 - 1.78 M - 1.55 % 10 min 10 s 141,120 1,805,700 - 1.81 M - 4.40 % 10 min 28 s 139,104 1,888,786 - 1.89 M + 11.70 % 08 min 57 s 137,088 1,690,895 - 1.69 M + 8.18 % 09 min 15 s 135,072 1,563,027 - 1.56 M + 13.33 % 08 min 50 s 133,056 1,379,192 - 1.38 M + 57.27 % 06 min 22 s 131,040 876,954 - 876.95 K + 54.59 % 06 min 28 s 129,024 567,269 - 567.27 K + 30.44 % 07 min 40 s 127,008 434,877 - 434.88 K + 78.15 % 05 min 37 s 124,992 244,112 - 244.11 K + 55.07 % 06 min 27 s 122,976 157,416 - 157.42 K + 43.54 % 06 min 59 s 120,960 109,670 - 109.67 K + 18.76 % 08 min 25 s 118,944 92,347 - 92.35 K + 12.15 % 08 min 55 s 116,928 82,345 - 82.35 K + 19.38 % 08 min 23 s 114,912 68,977 - 68.98 K - 9.47 % 11 min 03 s 112,896 76,192 - 76.19 K + 37.06 % 07 min 18 s 110,880 55,589 - 55.59 K + 52.47 % 06 min 34 s 108,864 36,459 - 36.46 K + 40.24 % 07 min 09 s 106,848 25,997 - 26.00 K + 18.10 % 08 min 28 s 104,832 22,012 - 22.01 K + 19.39 % 08 min 23 s 102,816 18,437 - 18.44 K + 13.06 % 08 min 51 s 100,800 16,307 - 16.31 K + 12.59 % 08 min 53 s 98,784 14,484 - 14.48 K + 18.23 % 08 min 28 s 96,768 12,251 - 12.25 K + 51.66 % 06 min 36 s 94,752 8,078 - 8.08 K + 17.65 % 08 min 31 s 92,736 6,866 - 6.87 K + 51.37 % 06 min 37 s 90,720 4,536 - 4.54 K + 46.75 % 06 min 50 s 88,704 3,091 - 3.09 K + 43.83 % 06 min 57 s 86,688 2,149 - 2.15 K + 55.95 % 06 min 25 s 84,672 1,378 - 1.38 K + 4.55 % 09 min 34 s 82,656 1,318 - 1.32 K + 43.73 % 06 min 58 s 80,640 917 - 917.00 + 28.79 % 07 min 46 s 78,624 712 - 712.00 + 14.29 % 08 min 45 s 76,608 623 - 623.00 + 21.92 % 08 min 13 s 74,592 511 - 511.00 + 45.17 % 06 min 53 s 72,576 352 - 352.00 + 44.26 % 06 min 56 s 70,560 244 - 244.00 + 34.81 % 07 min 27 s 68,544 181 - 181.00 + 302.22 % 02 min 24 s 66,528 45 - 45.00 + 95.65 % 05 min 11 s 64,512 23 - 23.00 + 21.05 % 08 min 16 s 62,496 19 - 19.00 + 11.76 % 08 min 58 s 60,480 17 - 17.00 + 6.25 % 09 min 34 s 58,464 16 - 16.00 + 45.45 % 07 min 08 s 56,448 11 - 11.00 - 8.33 % 10 min 51 s 54,432 12 - 12.00 + 9.09 % 08 min 56 s 52,416 11 - 11.00 + 57.14 % 06 min 49 s 50,400 7 - 7.00 + 16.67 % 07 min 47 s 48,384 6 - 6.00 + 50.00 % 07 min 30 s 46,368 4 - 4.00 0.00 % 09 min 56 s 44,352 4 - 4.00 + 33.33 % 08 min 21 s 42,336 3 - 3.00 + 50.00 % 06 min 41 s 40,320 2 - 2.00 + 100.00 % 07 min 12 s 38,304 1 - 1.00 0.00 % 07 min 24 s 36,288 1 - 1.00 0.00 % 09 min 43 s 34,272 1 - 1.00 0.00 % 09 min 04 s 32,256 1 - 1.00 0.00 % 08 min 28 s 30,240 1 - 1.00 0.00 % 14 min 39 s 28,224 1 - 1.00 0.00 % 19 min 29 s 26,208 1 - 1.00 0.00 % 21 min 04 s 24,192 1 - 1.00 0.00 % 19 min 43 s 22,176 1 - 1.00 0.00 % 29 min 40 s 20,160 1 - 1.00 0.00 % 20 min 05 s 18,144 1 - 1.00 0.00 % 19 min 08 s 16,128 1 - 1.00 0.00 % 13 min 33 s 14,112 1 - 1.00 0.00 % 12 min 24 s 12,096 1 - 1.00 0.00 % 12 min 46 s 10,080 1 - 1.00 0.00 % 12 min 47 s 8,064 1 - 1.00 0.00 % 12 min 45 s 6,048 1 - 1.00 0.00 % 12 min 24 s 4,032 1 - 1.00 0.00 % 11 min 36 s 2,016 1 - 1.00 0.00 % 17 min 00 s.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:58 am

Data mining with Weka - Data mining Tutorial for Beginners|3:49:01
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:58 am
Is Bitcoin Legal?
Bitcoin, the world's first decentralized digital currency, is attracting attention across the globe. When acknowledging that it is also the first borderless, apolitical form of money in history, it's hard to avoid the topic of whether it can be used legally.
It's worth noting that no matter who says you can't use bitcoin, its decentralized nature ensures that nobody can actually stop you from using it. As a broad answer, bitcoin can be used anywhere with equal access to the network, as long as you have access to the internet and in some areas, just electricity, thanks to new satellite systems.
Still, this has not stopped countries from trying to restrict the use of bitcoin within their borders. Some countries have made bitcoin entirely illegal, like India, Bolivia and Ecuador. Some of these same countries have also issued their own digital currencies as well. Other countries, like China, have shifted their view on bitcoin, banning and unbanning the currency in various ways over the last few years. As of October 2018, China has restricted digital currencies to private use only, prohibiting all financial institutions from handling any digital currency transactions at all.
The problem with banning something like bitcoin (which cannot be easily censored) from a geographic region is that trying to enforce such a ban is very difficult to do. The most restrictions can do is try to dissuade people from using it by threatening them with some sort of consequences, but they cannot actually prevent people from using it, due to bitcoin's decentral.
But, by and large, it is legal to send, receive, mine and generally use bitcoin in most countries around the world.ized protocol.
Is Bitcoin Legal Tender?
Legal tender is defined as money that must be accepted as payment for a debt in the jurisdiction where the payment is being made. Because bitcoin is not recognized as legal tender by any government, it can only be used as payment if both parties in a transaction agree to its use as a form of payment.
New technologies are often misrepresented and misunderstood, as the internet itself was in the early days. Some first world countries, like the United States, Canada, and most of Europe, have taken a "wait and see" approach to bitcoin by not outright banning it, but they are slow to regulate it as a legitimate financial technology.
The gray line in these legal classifications is what bitcoin is considered. Regulatory bodies all over the world have each given bitcoin its own legal classification based on what they believe it is. The problem arises when each regulatory body has their own viewpoint on what classification the digital currency falls under.
In the United States, for example, the Treasury classifies bitcoin as a "virtual currency." The Commodity Futures Trading Commission (CFTC) classifies bitcoin as a commodity, and the Internal Revenue Service classifies bitcoin as property.
All of these organizations have their reasons for classifying the digital currency the way they do, but the fact that it is classified differently so many times goes to show one thing: nobody is ready to agree on a definition of exactly what bitcoin is.
The Legal Status of Bitcoins in the U.S. and Elsewhere.
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As of February 2020, Bitcoin was legal in the U.S., Japan, the U.K., Canada, and most other developed countries. In the emerging markets, the legal status of Bitcoin still varied dramatically. China heavily restricted Bitcoin without actually criminalizing the holding of bitcoins. India banned banks from dealing in bitcoins and left the overall legal status of cryptocurrencies unclear. In general, it is necessary to look at Bitcoin laws in specific countries.
Even where Bitcoin is legal, most of the laws that apply to other assets also apply to Bitcoin. Tax laws are the area where most people are likely to run into trouble. For tax purposes, bitcoins are usually treated as property rather than currency. Bitcoin is generally not considered legal tender.
As of February 2020, Bitcoin was legal in the U.S., Japan, the U.K., Canada, and most other developed countries. In general, it is necessary to look at Bitcoin laws in specific countries. In the U.S., the IRS has taken an increasing interest in Bitcoin and issued guidelines for taxpayers. Bitcoin has serious flaws for those seeking anonymity, so illegal activity is moving to other cryptocurrencies.
IRS Guidance for U.S. Taxpayers.
In the United States, the IRS has taken an increasing interest in Bitcoin and issued guidelines. In 2014, the agency issued IRS Notice 2014-21 to provide information on the tax treatment of virtual currencies. Virtual currency is the term that the IRS uses for cryptocurrency.   In 2020, the IRS created a new tax form requiring taxpayers to declare if they engaged in any virtual currency transactions during 2019.  
Other Legal and Regulatory Issues.
Bitcoin exists in a deregulated marketplace, so there is no centralized issuing authority. Bitcoin addresses do not require Social Security Numbers (SSNs) or other personal information like standard bank accounts in the United States. That initially raised concerns about the use of bitcoins for illegal activity.
In its early years, the perceived anonymity of Bitcoin led to many illegal uses. Drug traffickers were known to use it, with the best-known example being the Silk Road market. It was a section of the so-called dark web where users could buy illicit drugs. All transactions on the Silk Road used bitcoins. It was eventually shut down by the FBI in October 2013.
However, Bitcoin has several serious flaws for those seeking anonymity. In particular, Bitcoin creates a permanent public record of all transactions. Once an individual is linked to an address, that person can be connected to other transactions using that address. Competing cryptocurrencies, such as Monero and Zcash, now provide much better privacy protection. Given this situation, illegal activity is moving away from Bitcoin.
Defining Bitcoin.
The digital currency known as Bitcoin was created in 2009 by a person or organization using the alias Satoshi Nakamoto. The real identity of Satoshi Nakamoto has never been established. There are no physical bitcoins that correspond with dollar bills and euro notes. They exist only on the Internet, usually in digital wallets. Ledgers known as blockchains are used to keep track of the existence of bitcoin. It can be given directly to or received from anyone who has a bitcoin address via peer-to-peer transactions. Bitcoin also trades on various exchanges around the world, which is how its price is established.
Bitcoin can be transferred from one country to another without limitation. However, the exchange rate against government-backed currencies can be very volatile. That is partly because speculation often drives the price, but also because bitcoins have a relatively small market compared to traditional currencies.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 06:59 am

How data mining works|6:01
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:00 am
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Legal? Can You Mine Them at Home?
The Short answer is yes. But it is not a simple matter of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) being legal as long as you follow your countries rules and regulations ie. "legal requirements" as it may be legal to do so, but illegal if not done with proper licencing, and following safety, and power consumption restrictions, and guidelines (for example)in your specific country. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has not been declared illegal to mine for the most part and legal in most countries to do so.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Illegal? Copyright: www.123rf.com/profile_artmagination.
Since rules, regulations, and laws change frequently, its best you consult with the proper tax and legal institutions in your country of origin. Follow the news and keep current with changes in legislation as they occur and you will then always be legal and will not have to constantly be asking yourself is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) legal?
It has been threatened to be shut down for use as a currency in some countries however. China and India have lead the way recently with bans on bitcoin use with mining in China coming under fire as well, with all kinds of mining equipment hitting the markets this year as people in China had to give up on it.
The currency itself has also seen its exchanges shut down like the bitcoin exchange in India. Anytime shutting down of trading or limiting the use of something such as using bitcoin in this case as a digital currency, will also have spin off affects on the mining part of it as well.
How much remains to be seen however, because if a country limits bitcoin use but not the mining of the actual currency, and it is still lucrative to mine it, then use it to cash in from another country's exchange in a different part of the world. Maybe fly somewhere and spend your bitcoins where its friendly and easy to do so.
People will do what they feel can make them the most money in the easiest possible way. If you live in a country where its cheap to mine bitcoin and cryptocurrency, but the use of the currency is not allowed, I would mine the coins and then go vacation and use them or cash them in somewhere else.
Its also has been threatened to be taxed in Russia for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Its not so much it being legal or illegal, its about governments threatening to regulate, and tax, and limit production because of electricity consumption, fears of non regulation and people getting duped for their bitcoins.
These are the main concerns about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). There are many exchanges to buy and sell bitcoin, and people using bitcoin, and huge industrial operations mining bitcoin so therefore Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is quite legal and open for your participation.
You just need to comply with any rules and regulations and forms of taxation as they arise in the country you mine in. Staying up with any changes in the law of the country you mine in will keep you legal. If your country announces it is regulating mining in some way then its suggested you follow the regulations as they arise, otherwise you will be mining illegally.
Of course planning your mining operation means setting up in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) friendly countries with inexpensive mining costs. Eventually all miners will gravitate to certain Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) friendly zones, or countries, like offshore gambling sites did by moving to places like the Isle of Man, and Panama, or how Switzerland became the hub for offshore banking and holding of financial assets, etc. People will mine and gravitate to where its most friendly to do so.
Helpful and interesting resources at other websites:
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in Canada: A friendly country.
Practical Must Read Resources Here at BitBetBuddy If you own crypto or plan to, then please read these articles.
Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Legal or Illegal?
The Peer-to-Peer virtual currency Bitcoin made its debut in the year 2009, and the new era of cryptocurrency began.
While enforcement agencies, tax authorities as well as regulators worldwide are till now debating upon the best practices, one prominent question that is disturbing everyone is - Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Legal or Illegal?
The answer to this question depends on the location and activity of the user.
A Short Story of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
As we have previously discussed in How Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Works? Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) refers to the process of keeping the record of transactions to a public ledger, however, the actual users can stay hidden behind anonymous names.
The ledger is known as Blockchain, and the transactions are recorded into blocks.
Now, the mining process refers to the creation of new blocks of the transactions occurred. Once a new block is created, it is added to the public ledger, aka blockchain. And, this is done by solving complex algorithms using computer processors.
With the passage of time, the algorithms have grown even more difficult. This means that it requires more computer power and time to create a block.
Initially, 50 Bitcoins were rewarded for mining a block, then the number turned to half, and now again half 12.5.
This is what makes mining more difficult and restricts bitcoin money supply.
Essentially, any process can be used to mine bitcoin. But, without a powerful computer processor, you won't have much success.
These days, bitcoin-specific machines are available as Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig. They are machines particularly designed to mine new bitcoins by solving algorithms needed to create new blocks.
3 Reasons Why Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Is Considered Illegal?
People believe that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is like counterfeiting money, which is not true at all. Some governments consider bitcoin as a thret, since it competes with national currencies. Bitcoin can can also be mined illegally, which is done by using malicious viruses to hijack people's computer systems, and use their processor to mine bitcoins.
List of Countries Where Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is Legal.
The United States Canada Australia Finland Belgium United Kingdom Bulgaria Germany.
List of Countries Where Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is Illegal.
China Russia Vietnam Bolivia Columbia Ecuador.
You May Also Read: Blockchain in Agriculture.
Though Bitcoin is now almost 10 years old, there are countries which still don't have explicit systems that restrict, regulate or ban the cryptocurrency.
The decentralization and anonymous nature of Bitcoin is what has challenged many governments on how to allow its legal use while preventing criminal transactions.
However, many countries are still analyzing the ways to regulate the cryptocurrency. Bitcoin, overall, remains in a legal gray area for many countries in the world.
Here are a Few Articles for you to Read Next:
Kapil Gauhar.
Kapil Gauhar is the founder of Blogger's Gyan. He is a Passionate Blogger, a Big Thinker and a Creative Writer. His passion for doing friendship with words and letting people know about the wonders of the Digital World is what motivates him to take writing as a career.
Before talking about the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, let us understand the basic terminologies, which will help us understand the technicalities involving Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Recently Samsung has announced that it is going to start designing chips for mining purposes. This information came out in one of the conferences in China, and this proves that competition is going to be tough.
Hash Rate means the number of complex calculations that the hardware can complete in one second. Hash Rate increases the chances of solving complex computations, necessary to earn Bitcoin as a reward. Hash rate is measured in Megahashes or Gigahashes or Terahashes per second. The first mining hardware featured a hash rate of between 336 MH/s and 14,000,000 MH/s.
Given that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is an investment and you have to be prepared to bear a certain cost to accomplish the mining process effectively, out of which one of the major expense is the energy cost. You can get the approximate cost in the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator as per the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) contract. The more powerful the hardware, the more the electricity you consume. Before purchasing any mining hardware, you should consider the electricity consumption rating in watts, which will enable you to work out the costs of energy consumed by the unit and will help you determine the viability of BTC mining using the said hardware.
The energy consumption and hash rate numbers can help you understand the number of hashes that can be mined from every watt of electricity flowing through the mining hardware. After that, divide the hash rate by the hardware's watt consumption to get the calculation.
Nice Miner is a free Bitcoin miner which can be used by the beginners also and is popular as per the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pool and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) websites. A USB Bitcoin miner, when connected to the PC with suitable software, performs the mining at a certain hash rate.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:00 am

HOW TO MINE DOGECOIN (Easiest Way) - Dogecoin 2021|8:48
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:02 am
The top 10 best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware are:
BitMain AntMiner S5 BitMain AntMiner S7 BitMain AntMiner S9 Antminer T9 AvalonMiner 741 AntMiner L3+ BitMain AntMiner D3 Dragonmint T16 Pagolin Miner M3X Avalon6.
#1 BitMain AntMiner S5.
Even if Antminer S5 may not be the latest version like other models - S7 and S9, its function is exemplary. The Bitmain Antminer S5 features a power supply labeled 115 Volts, which draws about 560 Watts. Its power consumption needs are low, similar to those running Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) computers can accommodate the Antminer S5. The unit produces about 1 GH/s for every 0.51 watts consumed with respect to its efficiency. the S3, the S5's efficiency has improved in comparison to its predecessor. This is one of the best Bitcoin miner hardware in 2020.
#2 BitMain AntMiner S7.
Since its introduction in 2015, BitMain AntMiner S7 has become one of the most popular Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware because of its lower power consumption factor. The power supply unit recommended for utilization the S7 is 1600 watt APW3, which is one of the best available in the market, designed specifically for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). The efficiency of AntMiner S7 depends on the effectiveness of the ambient temperature and the power supply used. But, at room temperature of around 25-degree centigrade, the S7 produces about 1300 watts.
#3 BitMain AntMiner S9.
Bitmain Antminer S9 is one of the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware available in the market as of now. It has the highest hash rate of about 14 TH/ sec. This high hash rate has been made possible with the courtesy of 3 circuit boards featuring a total of 189 chips. It is one of the efficient Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software available, where it consumes 300 watts more compared to the S7, which is twice as efficient with about 0.1 Joules per Gigahash.
#4 AntMiner T9.
AntMiner T9 is yet another Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware which is a bit expensive as compared to the S9. T9 consumes around 1450 watts for approximately 11.5 TH/s for Batch 23 and has an efficiency of 0.126 J/GH. Going by the numbers, S9 is better than the T9. The S9 quality chips were of a lower quality that leads to their reduced stability. But later, the T9 Miner has this problem of lower quality fixed.
#5 AvalonMiner 741.
AvalonMiner 741 is one of the affordable Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware which has been created by a company called Canaan. It provides a good hash rate of about 7.3 TH/s with an efficiency of 0.16 J/GH and features an air forming cooling system that enables 88 chips to function as a single unit. It even helps to keep the miner running at all times.
#6 AntMiner L3+
AntMiner L3+ has four boards containing 288 chips, which is double of its predecessor. L3+ is an easy to use mining hardware which comes packing in power having a hash rate of about 504 MH/s and uses up around 800 watts and sports efficiency of 1.6 J/MH.
#7 BitMain AntMiner D3.
AntMiner D3 is the best when it comes to Dash ASIC miners. Most of the miners are using this hardware to first mine dash coins which they convert into Bitcoins and make increased profits in the process. Bitmain Antminer D3 provides a hash rate of 15 GH/s and utilizes around 1200 Watts. It measures 320x130x190mm that actually makes it possible to have a good arrangement when running multiple miners simultaneously.
#8 Dragonmint T16.
Dragonmint T16 is the first BTC mining hardware to achieve the hash rate of 16 TH/s, making it exceptional. It needs 1600 W power supply but consumes only 0.075J/GH against 0.098J/GH in Bitmain's Antminer S9. Because of the ASICBOOST algorithm, the Dragonmint T16 efficiency can be boosted by 20 percent. It is one of the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware in 2020.
#9 Pagolin Miner M3X.
Pagolin Miner M3X is not as energy efficient or effective as its aforementioned contemporaries but is a bigger unit because of its embedded ASIC chips. It's the most power demanding Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) equipment in the market, with a draw rate of between 1.8kw and 2kw. It appeals to people because of its high hash rate of 13 TH/s.
#10 Avalon6.
Avalon6 is one of the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware for beginners. The setup process is pretty simple and is one of the profitable ones which has been around for a while. From the 1050W it draws, it only manages to produce 3.5 TH/s. Unfortunately, Avalon6 doesn't come with its own power supply and they can be bought separately. The Avalon6 makes a good unit to run in an office or at home that might well lose money but serves a very altruistic purpose by securing the network.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) might prove to be profitable to some individuals as the equipment is easily obtained and are flexible as per the different environment. They can perform a cost/benefit analysis to understand the breakeven price. There are several web-based profitability calculators that help analyze the cost-benefit equation. Even individuals can join a mining pool to compete against mega-mining centers.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:02 am

How To Mine DogeCoin|12:19
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:03 am

Dogecoin Mining (https://secure.iqmining.com/tiny/e8NNw) Tutorial - Fast and Easy!|10:32
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:03 am
FAQs on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Can I mine Bitcoin on my PC?
The least powerful way to mine Bitcoin is through the computer. As it needs a large amount of power consumption, there are heavy machines required to successfully mine Bitcoin, to get rewarded.
2. How many Bitcoins can be mined per day?
144 blocks per day are mined on average, and there are 12.5 bitcoins per block. 144 x 12.5 is 1,800, so that's the average amount of new bitcoins mined per day. Because many miners are adding new hash power, over the last few years blocks have often been found at 9 and a half minute intervals rather than 10.
3. How long does it take to mine a Bitcoin?
It takes 10 minutes to mine one Bitcoin.
4. How do I start mining Bitcoin?
You can refer here to understand the process carefully.
5. Can you make money as a Bitcoin miner?
Yes, you can, once you create a block and you can earn a reward of 12.5 BTC, which should be equally split amongst the miners, who have pooled the resources.
6. What is the most effective Bitcoin miner?
The above-mentioned miners are all effective, but you should do research before going for any.
7. How much does it cost to mine 1 Bitcoin?
As per the recent analysis by Elite Fixtures, U.S. is the 40th cheapest to mine a single Bitcoin, with an average cost of $4758.
8. Are AntMiner s9 and v9 profitable?
Both are good, but s9 is more popular.
9. What is a USB Bitcoin miner?
A USB Bitcoin miner, when connected to the PC with suitable software, performs the mining at a certain hash rate.
10. What is the fastest Bitcoin miner?
Out of all the Bitcoin miners, Dragonmint is considered pretty fast, as it has the highest hash rate of 16TH per second.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware: How to Choose the Best One.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware: Your top choices for choosing the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware for building the ultimate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine.
Last Updated: November 19, 2020.
Hey there! Let me welcome you to this guide to choosing the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. If you're wanting to get started earning a passive income mining Bitcoin, you've come to the right place. This guide will explain the differences between the top Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs on the market today.
If you don't know your DragonMints from your Antminers, don't worry. As usual, I'll be explaining all that to you in an easy to understand way. This guide to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machines will cover the following:
What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). How to pick a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine depending on your own circumstances. A look at the top mining units on the market today. I'll cover: the DragonMint T1, Antminer T9+, Antminer R4, Avalon6, Antminer S9, and the PangolinMiner M3X. There will also be hints as to which kind of miner each of these will appeal to. A handy table to help you compare each of the units.
As always, there's loads to get through in this guide to the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware around. Without further ado, let's begin!
1. What is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)? 2. Mining Hardware Depends on Your Circumstances 3. The Best Mining Hardware 3.1. Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware on a Budget - Antminer T9+ 4. Best for Beginners - Avalon6 4.1. Best for Home Use - Antminer R4 4.2. Best if Money is no Object - DragonMint T1 4.3. Antminer S9 - The Next Best Thing to the DragonMint T1 4.4. Best if avoiding Bitmain and Can't Get a DragonMint - PangolinMiner M3X 4.5. Mining Hardware Comparison Table 5. Conclusion.
The role of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is to verify that transactions on the network follow the rules. To do this, complex computer units are used to check the transactions and broadcast them to other computer systems around the world. The operators of these computer systems are rewarded for their efforts. This reward comes from both the fees that each transaction and a mining reward set by the network itself.
To stop people cheating the network, a system known as "proof-of-work" is used. Proof-of-work is needed before any group (block) of transactions is added to the blockchain. When the computers are performing their proof-of-work, what they're doing is trying to guess a long string of numbers and letters. This string is known as a hash.
Only the computer that correctly guesses the hash can add the block to the chain. Proof-of-work requires computational power and the process is neither quick or cheap. To cheat the network would require so much of an investment that it is not financially viable for someone to try and amend the blockchain. This is the main security feature of the Bitcoin (and other cryptocurrency) networks.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) used to be able to be performed by CPUs (central processing units) like those found in your computer system at home. However, as more units began to mine the network, the difficulty of the hashes they were trying to guess increased. This made people turn to higher powered processors such as GPUs (graphical processing units). These GPUs are commonly found in high-end gaming PCs.
Today, the hashes are so hard to solve and there are so many miners trying to solve them that only specialist computer systems can solve them. These units use application-specific integrated circuit chips - or ASICs for short. That is what this article is all about!
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:04 am

Solo CPU mining Dogecoin in 2020|9:44
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:04 am

Dogecoin Mining (https://secure.iqmining.com/tiny/e8NNw) Tutorial January 2021🚀 - Fast and Easy!|2:16
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:17 am
Mining Hardware Depends on Your Circumstances.
Although Bitcoin miners are now limited to choosing from a range of ASICs to mine Bitcoin, there are still plenty of options. Picking one will depend on each miner's individual circumstances. Some miners will want a single unit that can work in their spare bedroom. Others will want a couple of affordable ASICs to get themselves started mining for the first time. Finally, there are some people who want to fill a warehouse with the absolute best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware around.
There are lots of things to consider when picking Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. It's important to judge each unit based on their hashing power, their electricity consumption, their ambient temperature, and their initial cost to buy.
There are also some ideological reasons to choose one manufacturer over another. These relate to decentralisation and I'll touch upon some of the issues that surround this later in this article.
How to Invest in Blockchain: The Ins and Outs.
Don't know how to invest in blockchain? This guide will show you all possible blockchain investment methods & teach you how to invest in blockchain.
How to Accept BitDegree Tokens on Your Website?
Read the guide and learn what is BitDegree token, how you can get them and how you can use them on your website to attract key audience.
Bittrex vs Poloniex: What's The Better Alternative?
Bittrex vs Poloniex: full comparison, including Bittrex fees vs Poloniex fees. Learn what is the better alternative in Bittrex vs Poloniex battle.
The Best Mining Hardware.
Finally, I can get down to the real topic of this article - Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. I've looking at Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs from some of the biggest and best-known manufacturers on the planet to create this list.
I've also tried to group the different devices in terms of the applications that they're best suited for. I'll be giving you my recommendations for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs for:
People on a tight budget. People wanting to mine at home. Those who have never mined Bitcoin before. People who are looking to spend the most on the most power Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware around. A couple of alternative choices for professional miners who can't locate enough DragonMint T1s for their operation.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware on a Budget - Antminer T9+
For Bitcoin miners that are on a budget, one of the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs around is the Antminer T9+. It can be picked up much more cheaply that most of the other devices on this list. However, don't let the price tag fool you -- it's still a decent machine.
As well as being great for those concerned about the price of their mining unit, the Antminer T9+ is ideal when space is a concern. This is because it features a compact design. This makes it great for cramming lots of units into a mining rig farm. If this is how you intend to use your ASIC miners, you'll be even more glad of the temperature reducing features of the Antminer T9+. You'll be saving a lot of money on extraction equipment too.
In terms of the hardware this unit uses, the Antminer T9+ features 162 of Bitmain's BM1387 chips. This allows it to produce a brilliant hash rate of 10.5 TH/s whilst drawing just 1332W from the wall.
As well as being a great performer, the Antminer T9+ also has an easy to grasp user-interface. This is used to configure various settings and make upgrades to the firmware as new releases come from Bitmain.
Being priced between $550 and $600 per Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig, the Antminer T9+ is certainly the most affordable unit on our list. You can pick one up from here.
Unfortunately, like the average Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) machine, the power supply is sold separately.
Be s t for Beginners - Avalon6.
The next piece of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware I'll be looking at is one for the beginners to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). The creators of the Avalon6 Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig, Canaan Creative, built it with simplicity in mind.
The Avalon6 Bitcoin miner is one of the easiest ASIC units to setup. Both the advanced and basic procedure is simple, and this makes the device great for beginners. Unfortunately, it's not the most profitable unit around. From the 1050W it draws from the wall, it only manages to produce 3.5 TH/s.
Whilst it's certainly not going to impress any serious Bitcoin miners, the ease with which you can set up this bit of kit, along with the affordable price tag will make it a great unit for those wanting to get started in the world of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Unfortunately, like most of our units on this guide to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, the Avalon6 doesn't come with its own power supply. These are sold separately.
There are options to buy the unit itself directly from Canaan Creative, but these are only for bulk orders. Fortunately, it's possible to pick them up in smaller order sizes for around $650 each from here.
Running an Avalon6 (or Any Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Machine) Not for Profit?
As well as being great for beginners, the Avalon6 is a good piece of hardware for those who want to mine Bitcoin without making a profit. This might sound bizarre at first but there is a very good reason why people would want to mine Bitcoin without necessarily generating profits.
Put simply, the more units mining on a cryptocurrency network, the more secure that network is. The robustness of Bitcoin's security comes from its decentralization. There are many hobbyists and passionate developers around the world who either are not able or don't want to mine Bitcoin for a profit. There are many reasons that this could be the case. These include but are not limited to the following:
Not having an area of your home that you want to dedicate to running multiple mining units. Living somewhere very hot meaning that all that equipment running would generate an unbearable amount of heat. The electricity being too expensive to generate a profit from running Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rigs. You're not at home often enough to bother setting up a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig farm that could, after all, represent a fire hazard.
The Avalon6 makes a good unit to run in an office or at home that might well lose money but serves a very altruistic purpose - securing the network. For many developers, the cost of running their mining rig is a small price to pay for complete financial freedom from banks and other institutions that have absolute control over the creation of and supply of money.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Reviews & Comparison.
By: Ofir Beigel | Last updated: 6/21/20.
Initially, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) was a simple task even home computers could participate in. Today, mining is done by ultra-powerful computers that are designed for that sole purpose. In this post I'll cover the best mining hardware available today.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Summary.
Nowadays, the only way to participate in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is through dedicated miners known as ASIC miners. As mining evolves, more and more companies begin manufacturing dedicated hardware.
The top Bitcoin miners on the market today are:
That's Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware in a nutshell. If you want a deeper understanding of how to choose your miner keep on reading. Here's what I'll cover:
1. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Evolution.
Before I get into the various miners on the market today, I want to make sure you're familiar with what Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is. If you already know about the purpose of mining and how it integrates with the Bitcoin network, feel free to skip this part.
If not, here's our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) whiteboard video to get you up to speed:
Mining has moved from being something you can do from the comfort of your own home to a specialized occupation that requires a lot of time and capital.
Miners evolved from using PCs to GPUs (graphics processing unit) and later on to FPGAs (field-programmable gate array) before reaching their current state of ASIC (application-specific integrated circuit) mining.
Today, if you try to mine with anything other than an ASIC miner, you're in for a disappointment. ASICs are built specifically for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and are therefore the most efficient type of miner out there.
For reference, a single ASIC miner has the equivalent mining power of 700 GPUs. Therefor, the massive move of miners toward ASIC hardware is easily understandable.
Clear evidence of this is the Bitcoin network total hashrate, which has exceeded the incredible milestone of 120 exahash per second (that's 120,000,000,000,000,000,000 hash calculations per second!).
Image courtesy of blockchain.com.
Today's focus is on creating smaller chips for ASIC mining in order to produce more powerful miners. The smaller the chip, the more chips you can put inside a miner, increasing its mining capabilities.
The smallest chip introduced commercially to date is a 7 nm (nanometer) chip by Bitmain and their Antminer S17. However, 5 nm chips are expected to be introduced shortly by Bitmain and Canaan.
2. Evaluating a Miner.
When you want to evaluate a miner, there are usually three main factors you need to check:
How much electricity does the miner consume? This is important since you're going to run a huge electric bill if you mine Bitcoin. This is measured in watts, and the lower the number, the better.
Hashrate.
This is how much power the miner has to solve the mining math problem. It basically measures how many guesses the miner can make per second.
While a personal computer can make a few million guesses per second, today's ASICs can make 1*10^12 guesses per second. The higher you hashrate is, the better.
Energy Efficiency.
While having a high hashrate is good, if you're wasting a lot of energy to get it you'll be losing money in the end.
Efficiency is basically calculating how much power is required to generate a single bitcoin. An efficient miner requires less electricity to mine Bitcoin.
Efficiency is calculated by dividing energy consumption with hashrate. This way you can effectively measure miners against one another.
All of the above factors are important for calculating profitability, so make sure you have them all before proceeding.
Once you have this information, you can insert it into a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator and estimate how many bitcoins you'll be able to mine per timeframe.
Difficulty Factor Hash Rate BTC/USD Exchange Rate BTC/Block Reward Pool Fees % Hardware Cost (USD) Power (Watts) Power Cost (USD/kWh) Duration Calculation Estimated Profit in USD Show Details.
Keep in mind that this calculation will never be 100% accurate since you can't know for sure the exact difficulty measurement at the moment, or what will happen to Bitcoin's price a week from today.
3. Notable Mining Hardware Companies.
Bitmain Technologies.
The most well-known mining hardware manufacturer around, Bitmain was founded in 2013 in China and today has offices in several countries around the world.
The company developed the Antminer, a series of ASIC miners dedicated to mining cryptocurrencies such as Bitcoin, Litecoin, and Dash.
Bitmain is also in charge of two of the largest mining pools around: BTC.com and Antpool.
While Bitmain is respected for its technical excellence and reliable delivery, the company is also criticized by many Bitcoin enthusiasts for a variety of reasons:
Its monopolization of ASIC manufacturing and mining Its role in delaying the SegWit upgrade to Bitcoin Its support and promotion of Bitcoin Cash Its alleged anti-competitive practices Its questionable methods, such as the Antbleed vulnerability and the covert AsicBoost scandal.
It's likely that the bulk of mining equipment today consists of Bitmain miners, based on analysis placing Bitmain's share of the ASIC market at 70%-80%.
However, since these controversial events and some setbacks and closures, Bitmain has adopted a less aggressive business strategy. It's likely that the bulk of mining equipment today consists of Bitmain miners, based on analysis placing Bitmain's share of the ASIC market at 60%-70%.
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MicroBT.
MicroBT or Bit Micro is a relative newcomer to the space but a successful one; they sold 650,000 ASICs in 2019 and are shaping up to be a strong rival to Bitmain and Canaan. They are based in China, specifically the tech production hotspot of Shenzen.
MicroBT manufactures the Whatsminer range of ASICs, and have so far produced 5 series in this range: the Whatsminer D1, M10, M20, M21, and the current generation M30.
The company has certainly enjoyed a strong start, released some competitive products, and it will be exciting to follow their development.
Canaan Creative.
Canaan was founded in 2013 in Beijing by N.G. Zhang. Canaan began as a producer of FPGAs, the mining hardware that preceded ASICs.
In November of 2019, Canaan raised a total of $90 million by listing on the Nasdaq, a tech-focused stock market in the USA. Canaan was the first ASIC manufacturer to list publicly.
Canaan is the world's second-largest ASIC producer. The company has a wealth of experience in electronic design and production. It's clear that this veteran industry player has big plans for its future.
Innosilicon Technology.
Innosilicon is a hardware company with design teams in China and North America, Innosilicon pride themselves on providing low cost, high-performance, fully customizable solutions combined with award winning customer design support.
Their IP can be found in millions of mobile, multimedia and consumer electronic devices such as: tablets, cell phones, HD set-top boxes, TV, cameras, network devices, computing ICs that have achieved leading market shares.
The company has entered the cryptocurrency mining market and introduced the Terminator series for mining Bitcoin, with their latest miner being the T3+ Pro.
GMO Internet.
*June 2020 update: Due to lack of profitability, GMO Internet has stopped producing mining hardware .
Japanese giant GMO Internet has also introduced a line of Bitcoin miners.
While GMO Internet is mainly engaged in the Internet infrastructure business, it also runs other businesses such as online advertising & media, Internet financial services, mobile entertainment, and of course cryptocurrency.
The company has also launched several crypto exchanges and it runs a mining business and cloud mining contracts.
Zhejiang Ebang Communication.
Ebang mainly engages in R&D, manufacture and sales of fiber optical telecommunication products. The company is also one of the largest ASIC chip manufacturers in their region. Ebang miners carry the Ebit brand.
On April 2020 Ebang filed for an IPO on the U.S stock market listing , so the company definitely has big plans for the future.
Bitfury is a veteran Bitcoin hardware and software company formed back in 2011. The company conducts large-scale mining operations on its own and has been known to account for large amounts of the Bitcoin network hashrate.
The company offers several products including an ASIC mining chip called Clarke, an enterprise grade Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) server called Tardis and a portable Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) data center called BlockBox.
The company has data center operations in Iceland, the Republic of Georgia, Canada and Norway, which process and transmit bitcoin transactions.
The blockbox ac by Bitfury.
4. Best Bitcoin Miners for 2020.
While you can find a wide variety of miners on the market, it's highly recommended to use the latest models out there since they will give you the best return on investment. Here's a short overview of the top miners around.
Buy best cryptocurrency mining hardware 2020.
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Most Profitable Cryptocurrency Mining Equipment.
Obelisk SC1 Immersion.
Bitmain Antminer S17+ 73Th.
Innosilicon A10 PRO ETHMaster 500Mh.
ASICminer Zeon Turbo 400 000 Sol/s.
StrongU STU-U6.
Innosilicon A10 ETHMaster 485Mh.
Bitmain Antminer S17 Pro 53Th.
Bitmain Antminer S17e.
Obelisk SC1 Dual.
Innosilicon T3+ 57T.
Bitmain Antminer S17 56Th.
StrongU STU-U8 Pro.
Why use our cryptocurrency mining equipment ?
At the beginning, most miners used their own CPU for coin mining, but very quickly this was not enough to mine in quantity. Miners then moved to using their Graphic Cards GPUs because they were able to hash data up to 100 times faster and consumed much less power per unit of work.
Over time, the conditions to mine in high quantity became very high and people who want to successfully mine, need a powerful cryptocurrency mining equipment.
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We know that each miner has his own needs in terms of GPU quality and power. Many of the existing cryptocurrency mining hardware is very expensive with no better quality than the standards. That's why we offer you a cheap mining hardware shop and high quality products. Wait no longer and buy your cryptocurrency mining machine now! Check out our SHOP and compare our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware!
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Guide.
The best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware has evolved dramatically since 2009.
At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 to 100 times faster and consumed much less power per unit of work.
During the winter of 2011, a new industry sprang up with custom equipment that pushed the performance standards even higher. The first wave of these specialty Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) devices were easy to use Bitcoin miners were based on field-programmable gate array (FPGA) processors and attached to computers using a convenient USB connection.
FPGA miners used much less power than CPU's or GPU's and made concentrated mining farms possible for the first time.
Today's modern and best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
Application-specific integrated circuit (ASIC) miners have taken over completely. These ASIC machines mine at unprecedented speeds while consuming much less power than FPGA or GPU mining rigs. Several reputable companies have established themselves with excellent products.
Two major factors go into determining the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware: (1) cost and (2) electricity efficiency.
ASIC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware.
Application-specific integrated circuit chips (ASICs) are Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware created solely to solve Bitcoin blocks. They have only minimal requirements for other normal computer applications. Consequently, ASIC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) systems can solve Bitcoin blocks much quicker and use less less electricity or power than older Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware like CPUs, GPUs or FPGAs.
As Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) increases in popularity and the Bitcoin price rises so does the value of ASIC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. As more Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware is deployed to secure the Bitcoin network the Bitcoin difficulty rises. This makes it impossible to profitably compete without a Bitcoin ASIC system. Furthermore, Bitcoin ASIC technology keeps getting faster, more efficient and more productive so it keeps pushing the limits of what makes the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
Some models of Bitcoin miners include Antminer S5, Antminer U3, ASICMiner BE Tube, ASICMiner BE Prisma, Avalon 2, Avalon 3, BTC Garden AM-V1 616 GH/s, VMC PLATINUM 6 MODULE, and USB miners.
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AntMiner U2.
2 Gh/s 1.0 W/Gh 0.8 ounces Yes N/A.
BPMC Red Fury USB.
2.5 Gh/s 0.96 W/Gh 1.6 ounces Yes N/A.
GekkoScience.
9.5 Gh/s 0.33 W/Gh 0.8 ounces Yes N/A.
For those not interested in operating the actual hardware then they can purchase Bitcoin cloud mining contracts. Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.
Full List of Mining Hardware.
Miner Capacity Efficiency Price AntMiner S1 180 Gh/s 2.0 W/Gh N/A AntMiner S2 1000 Gh/s 1.1 W/Gh N/A AntMiner S3 441 Gh/s 0.77 W/Gh N/A AntMiner S4 2000 Gh/s 0.7 W/Gh N/A AntMiner S5 1155 Gh/s 0.51 W/Gh N/A AntMiner S5+ 7722 Gh/s 0.44 W/Gh N/A AntMiner S7 4.73 Th/s 0.25 W/Gh N/A AntMiner S9 13.5 Th/s 0.098 W/Gh N/A AntMiner U1 2 Gh/s 1.25 W/Gh N/A AntMiner U2 2 Gh/s 1.0 W/Gh N/A AntMiner U3 63 Gh/s 1.0 W/Gh N/A ASICMiner BE Blade 11 Gh/s 7.72 W/Gh N/A ASICMiner BE Cube 30 Gh/s 6.67 W/Gh N/A ASICMiner BE Sapphire 0 Gh/s 7.59 W/Gh N/A ASICMiner BE Tube 800 Gh/s 1.13 W/Gh N/A ASICMiner BE Prisma 1400 Gh/s 0.79 W/Gh N/A Avalon Batch 1 66 Gh/s 9.35 W/Gh N/A Avalon Batch 2 82 Gh/s 8.54 W/Gh N/A Avalon Batch 3 82 Gh/s 8.54 W/Gh N/A Avalon2 300 Gh/s N/A N/A Avalon3 800 Gh/s N/A N/A Avalon6 3.5 Th/s 0.29 W/Gh N/A bi*fury 5 Gh/s 0.85 W/Gh N/A BFL SC 5Gh/s 5 Gh/s 6.0 W/Gh N/A BFL SC 10 Gh/s 10 Gh/s N/A N/A BFL SC 25 Gh/s 25 Gh/s 6.0 W/Gh N/A BFL Little Single 30 Gh/s N/A N/A BFL SC 50 Gh/s 50 Gh/s 6.0 W/Gh N/A BFL Single 'SC' 60 Gh/s 4.0 W/Gh N/A BFL 230 GH/s Rack Mount 230 Gh/s N/A N/A BFL 500 GH/s Mini Rig SC 500 Gh/s 5.4 W/Gh N/A BFL Monarch 700GH/s 700 Gh/s 0.7 W/Gh N/A BitFury S.B. N/A N/A N/A Bitmine.ch Avalon Clone 85GH 85 Gh/s 7.65 W/Gh N/A Black Arrow Prospero X-1 100 Gh/s 1.0 W/Gh N/A Black Arrow Prospero X-3 2000 Gh/s 1.0 W/Gh N/A Blue Fury 3 Gh/s 1.0 W/Gh N/A BTC Garden AM-V1 310 GH/s 310 Gh/s 1.05 W/Gh N/A BTC Garden AM-V1 616 GH/s 616 Gh/s 1.05 W/Gh N/A CoinTerra TerraMiner IV 1600 Gh/s 1.31 W/Gh N/A Drillbit N/A N/A N/A HashBuster Micro 20 Gh/s 1.15 W/Gh N/A HashBuster Nano N/A N/A N/A HashCoins Apollo v3 1100 Gh/s 0.91 W/Gh N/A HashCoins Zeus v3 4500 Gh/s 0.67 W/Gh N/A HashFast Baby Jet 400 Gh/s 1.1 W/Gh N/A HashFast Sierra 1200 Gh/s 1.1 W/Gh N/A HashFast Sierra Evo 3 2000 Gh/s 1.1 W/Gh N/A Klondike 5 Gh/s 6.15 W/Gh N/A KnCMiner Mercury 100 Gh/s 2.5 W/Gh N/A KnC Saturn 250 Gh/s 1.2 W/Gh N/A KnC Jupiter 500 Gh/s 1.2 W/Gh N/A KnC Neptune 3000 Gh/s 0.7 W/Gh N/A LittleFury N/A N/A N/A Metabank 120 Gh/s 1.42 W/Gh N/A NanoFury / IceFury 2 Gh/s 1.25 W/Gh N/A NanoFury NF2 4 Gh/s 1.35 W/Gh N/A BPMC Red Fury USB 2.5 Gh/s 0.96 W/Gh N/A ROCKMINER R3-BOX 450 Gh/s 1.0 W/Gh N/A ROCKMINER R4-BOX 470 Gh/s 1.0 W/Gh N/A ROCKMINER Rocket BOX 450 Gh/s 1.07 W/Gh N/A ROCKMINER R-BOX 32 Gh/s 1.41 W/Gh N/A ROCKMINER R-BOX 110G 110 Gh/s 1.09 W/Gh N/A ROCKMINER T1 800G 800 Gh/s 1.25 W/Gh N/A Spondooliestech SP10 Dawson 1400 Gh/s 0.89 W/Gh N/A SP20 Jackson 1.3-1.7 Th/s 0.65 W/Gh N/A Spondooliestech SP30 Yukon 4500 Gh/s 0.67 W/Gh N/A Spondooliestech SP31 Yukon 4900 Gh/s 0.61 W/Gh N/A Spondooliestech SP35 Yukon 5500 Gh/s 0.66 W/Gh N/A TerraHash Klondike 16 5 Gh/s 7.11 W/Gh N/A TerraHash Klondike 64 18 Gh/s 7.06 W/Gh N/A TerraHash DX Mini (full) 90 Gh/s 7.11 W/Gh N/A TerraHash DX Large (full) 180 Gh/s 7.11 W/Gh N/A Twinfury 5 Gh/s 0.85 W/Gh N/A Avalon USB Nano3 3.6 Gh/s 0.85 W/Gh N/A GekkoScience 9.5 Gh/s 0.33 W/Gh N/A.
U.S.-based asset manager, Digital Asset Investment Management, or DAiM, has launched the country's first employer-sponsored 401K retirement plans supporting Bitcoin.
The outgoing SEC Chairman Jay Clayton, who oversaw the rejection of nine Bitcoin (BTC) exchange-traded funds during his tenure, has told CNBC that "inefficiencies" in.
Mainstream media outlets are finally reporting on the recent rally that saw Bitcoin creep close to its all-time high -- but some commentators appear to be determined to spread.
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we've all come to value and expect, please keep the following criteria in mind:
Enrich the conversation Stay focused and on track. Only post material that's relevant to the topic being discussed. Be respectful. Even negative opinions can be framed positively and diplomatically. Use standard writing style. Include punctuation and upper and lower cases. NOTE : Spam and/or promotional messages and links within a comment will be removed Avoid profanity, slander or personal attacks directed at an author or another user. Don't Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse. Only English comments will be allowed.
A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator allows you to determine how much can you profit from a certain Bitcoin miner. It takes into account all relevant costs, such as hardware, electricity, and fees.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator Summary.
Enter the hash rate of your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware (mandatory). Enter additional optional information, such as pool fees, electricity costs, etc. The more information you enter, the more accurate the result will be. Results will be displayed automatically in USD (to see the detailed calculation, click "Show Details"). Some values (e.g. the exchange rate) are updated automatically with the latest network stats. However, you can adjust any value manually to simulate possible scenarios.
For a detailed explanation about each part of the calculator keep on reading. Here's what I'll cover:
1. Calculating Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profitability.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) secures the Bitcoin network. Without miners, there would be no one to update Bitcoin's ledger, which is known as the blockchain. The more miners you have, the more decentralized and secure the network is. Due to miners' crucial role in the network, an incentive system was designed so that miners will be compensated for providing their services.
Each block mined by miners contains a block reward--a fixed amount of Bitcoins that are paid out to the miner that mined the block.
While mining today is very competitive, it's possible to run a successful and profitable mining operation. Let's outline the many factors that will determine whether or not your mining operation will be profitable.
Hardware Costs.
The up-front cost of mining hardware is usually the largest expense for any new mining operation. Just like good computers cost more money, good mining hardware is expensive. There are three main mining hardware manufacturers today that supply miners on the market.
When purchasing mining hardware, you will want to look at a miner's hash rate measured in Terra Hash (Th/s). A higher hash rate means a more powerful miner.
Miners also generate heat and need to be supplied with electricity. Unless you already have the needed parts, you will likely need to purchase cooling fans and power supplies. Make sure to take these into account and add them into the "hardware cost" section of the calculator.
Hardware Efficiency.
Hash power alone is not enough to determine the quality of a miner. Similar to the way cars are rated by their MPG (miles per gallon), miners are valued by how many Bitcoins they yield according to the electricity they consume.
The reason for that is that miners use massive amounts of electricity, and electricity costs money. In short, you want a miner that has a high hash rate and uses the provided electricity efficiently.
W/Gh (watts per gigahash) is the metric used to display a miner's efficiency. The lower this number, the more efficient the miner.
Electricity Costs.
Electricity costs can make or break a mining operation. A huge monthly electric bill means significant costs on top of the up-front cost of the hardware.
China's cheap electricity is one of the reasons why nearly 60% of Bitcoin's network hashing power is located there. In the United States, for example, most mining hardware is run in Washington State, where power costs are relatively cheap thanks to hydroelectricity. Venezuela's crisis and the cheap electricity resulting from it have made Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) extremely profitable there.
Electric costs for cooling are yet another factor to consider, as miners generate significant heat during the mining process. Insufficient cooling may impair your mining operation or even lead to irreparable damage in the hardware. However, there are ways to harness this by-product to your advantage.
Creative miners in cold areas can use the heat generated by miners to heat their houses in the winter. If the heat generated by miners will partly replace your normal heating costs, it can be another way to save money and improve your chances of profitability.
Additionally, miners in cold areas also have an advantage because they may not need to use extra fans to cool the hardware.
Mining Difficulty and Network Hash Power.
In order to keep Bitcoin's inflation in check, as more miners join the network the difficulty is raised i.e. it gets harder to mine. This ensures that Bitcoin blocks are mined, on average, every 10 minutes. In other words, a higher difficulty is indicative of more hash power on the network (i.e more or stronger miners are at work).
Mining revenue is based partially on the current difficulty to mine Bitcoins. Difficulty can (and will) change. Stay alert to advances in mining technology and efficiency to get a better idea of how the network's hash rate and difficulty may look down the line. From past experience, it usually goes up as time goes by (on average 0.4% per day).
Bitcoin Price.
Bitcoin's price is extremely volatile and can't be predicted. Mining Revenue is shown in USD based on the exchange rate at the time of calculation.
This means, you may calculate your profitability today with a Bitcoin price of X and experience a price drop to Y a day afterward that will significantly affect your profitability. In short, be prepared for price movements and understand that Bitcoin's price is a factor that you cannot control.
Unlike Bitcoin's price, the Bitcoin block reward is predictable: every four years (or 210,000 blocks to be exact), the amount of Bitcoins awarded for each block, is cut in half. In 2012, the reward was cut from 50 Bitcoins per block to 25 and is now 12.5 Bitcoins per block. In 2020, this reward will fall to just 6.25 Bitcoins per block, and so forth.
Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Title: Re: Bitcoin mining.
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Note that while each halving cuts miners' reward in half, the increase in demand that results may lead to Bitcoin's price rising, keeping mining profitable.
2. Frequently Asked Questions.
How Do I Start Mining Bitcoin?
Get a Bitcoin miner Join a mining pool Install a mining software Start mining.
How Many Bitcoins Can You Mine in a Day?
In June of 2019, if you use the Antminer S17 Pro (56 TH/s, 2212 Watts) with an electricity cost of $0.12/Kw you can mine 0.00188769 Bitcoin in one day. However this calculation might be outdated when you read this as Bitcoin's difficulty changes every two weeks. It's best to run a new calculation before starting to mine with updated stats.
How long does it take to mine a Bitcoin?
Assuming you're using the Antminer S17 on June 2019 it would take 531 days to mine a full Bitcoin with the Antminer S17. However this calculation might be outdated when you read this as Bitcoin's difficulty changes every two weeks. It's best to run a new calculation before starting to mine with updated stats.
It's still possible to make a profit from Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) if you have the right hardware and low enough electricity costs. However, today mining as a hobby is almost non-existent due to the fierce competition in this field. If you're serious about mining you should conduct ample research before buying your first miner.
Also, remember that revenue is NOT profit. You have to take into account additional mining expenses or missing expenses that weren't entered into the calculator. (e.g. the cost of your mining hardware or the electricity it takes to run it and cool it down if necessary).
3. Conclusion: A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator Predicts the Future.
To conclude, a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator can give you a much better idea about your potential to run a profitable mining operation. Remember, however, that some factors such as Bitcoin's price and mining difficulty, change every day and can have dramatic effects on profitability, so it's important to conduct up to date calculations when needed.
If you have additional comments or questions feel free to leave them on the comment section below.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator & Profitability Calculator.
Bitcoin (BTC) Mining Calculator is a simple calculator which can be used to calculate profitability or number of bitcoins can be generated using specific Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. To use the same you will need the configuration of your mining hardware and the electricity price in the area you are going to setup the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) rig.
How does Bitcoin (BTC) Mining Calculator Works?
This Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator will help you predict the amount of profit that you will be making based on the various factors that influence the mining operation. It works on a simple principle. Takes the input value of your mining hardware feeds it into the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Algorithm does the calculation and predicts the profit/revenue or you can no of bitcoin generated and profitability of the same.
Here's a look at how our mining calculator works:
Basically, you first need to consider the Hash Rate of your miner - the higher the hash rate , the faster it can mine for Bitcoins. Hash Rate is usually measured in GH/s (GigaHashes per Second).
Next, you need to enter the amount of power (in terms of Watts) that your mining device consumes.
After that, the price of the power is considered - the price at which you get electricity. The lower the price of electricity, the more profitable your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operation is.
Pool fees percentage is also considered in this - most Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) pools charge a small fee. After deducting that percentage of the fees, you can get a better, clearer picture of the profitability of your mining.
Mining difficulty is also considered as a factor. Ever since the Bitcoin network went live, mining difficulty has been constantly increasing - the higher the difficulty, the harder it is for miners to mine for Bitcoin.
Another crucial factor here is the block reward - basically, the number of Bitcoins released upon solving a block: this number keeps reducing by 50% every four years. The current block reward is 12.5 BTC per block, which will reduce to 6.25 BTC per block in May 2020.
Finally, the Bitcoin price is also taken into account: which has a major impact on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profits. The higher the price of BTC, the more profitable your mining operation is. Also, you can see the Bitcoin Price Prediction calculate.
When you enter all these factors into the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator, the profitability of the mining operation is determined. The mining calculator shows you your profits on an hourly, daily, weekly, monthly and yearly basis.
The Need for a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator.
Mining is much more than just something that you do to gain Bitcoins. It is a proper investment and it requires a detailed thought process behind it. No investment is usually made without keeping the profitability in mind - and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculators help you determine the profitability of your mining operations.
Considering that in the world of cryptocurrency, everything is so dynamic - one always needs to keep a track of their progress - and how profitable their mining operations continue to be. Sometimes, these 'dynamic changes' can be internal - such as an increasing mining difficulty or a drop in the block reward. However, there can be some external changes too - such as the cost of electricity or a change in the pool fees percentage.
Keeping all these factors in mind is essential and any change in any of these factors would change the profitability of your mining operations. The most important factor, however, continues to be the price of Bitcoin. The higher the price of Bitcoin goes, the more profitable a mining operation becomes and the lower it falls, the profits fall along with it.
Hence, a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator helps you check at all the times about how profitable your operation is, keeping all the other factors in consideration. You can pause or resume your mining operations on the basis of the profitability - to ensure that you are not making any losses while mining.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:21 am

Is dual mining more profitable? is it worth it? ETH/ETC/PIRL+VERGE(XVG)|8:11
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:21 am

How To Mine Ethereum Plus Zilliqa|5:46
Title: Re: Bitcoin mining.
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Bitcoin's Price Volatility.
The biggest factor that determines your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operation is the price of Bitcoin itself. Anyone who invests in Bitcoins must know about the price volatility. Bitcoin, which went from $950 to $19,500 in 2017 - has been on a major downtrend in 2018. However, the potential to bounce back is immense.
The price of Bitcoin can be the make-or-break factor for all mining operations. When the price rises, mining operations can provide extremely high returns. However, when the price declines, the profitability of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operation to goes down.
To understand Bitcoin's price volatility, one has to understand some basic economic concepts: that of demand and supply. When the demand for Bitcoin rises, people begin to buy it in large numbers - and the more Bitcoin is purchased, the higher the price rises. This is because there are only a limited number of Bitcoins in circulation - the lesser Bitcoins remain in circulation, the higher the price would be. However, when people begin to sell their Bitcoins - and the Bitcoins in circulation rise, the price of the currency falls because of abundance. The lesser the supply the greater the price of the currency.
Moreover, there are a number of other reasons which can result in Bitcoin's price fluctuations. Sometimes, government actions such as China banning cryptocurrency exchanges or Korea launching a probe in crypto exchanges in the nation result in price crashes. Other times, it might be an external malicious force such as a group of hackers who break into an exchange, stealing cryptocurrencies. These kinds of events lead to a fall in the price.
Every time there's a major fluctuation in the Bitcoin prices, miners need to check the impact of the change of prices on their profitability using a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculator. Our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator automatically grabs the latest Bitcoin price to ensure that you are shown the latest results based on the current price of Bitcoin.
How can the Bitcoin (BTC) mining profitability be calculated? - Factors That Influence Your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Profits.
There are a number of factors that influence your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability: while the most basic factor, as we have discussed above in detail - is the price of the Bitcoin itself, there are also a number of other factors that need to be considered before you begin your mining operations. Let us take a look at three main factors which affect mining profitability.
Investment into the mining setup: One factor that many people tend to miss out is the investment that they make on the mining setup. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is not a cheap affair and it often requires thousands of dollars to set up a proper mining rig with multiple ASIC miners. It often takes miners months or even years to break even on that initial investment that they put in, after which it is all profit. A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator can be used to check the amount of time it would take you to break even given that conditions remain static.
Cost of Power: Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operations tend to consume a large amount of electricity. Hence, the cost of power has a major role to play here - the higher the cost of the power, the higher would the cost of the mining operation be. This is the reason a number of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operators are choosing locations with cheap power for their mining operations.
Block Rewards: Considering that block rewards reduce by 50% every four years - your profits would significantly reduce when this happens in 2020. However, the logic behind this is that with every drop, the price of Bitcoins too would increase as they would become an even more scarce resource - hence neutralizing the reduction in quantity.
Conclusion: Before setting mining farm it is advisable to use Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Calculators to calculate the profitability of the same.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculators are not just a one-time tool - they are a constant support that Bitcoin miners need. With any change to any of the factors - the price of Bitcoin, the price of electricity, or the difficulty/rewards, miners need to know the impact it will have on their mining process. Our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator shows an exact breakdown of how each price influences the profits.
Disclosure: The Profit Details are the result of a chosen budget of $ 10,000.00 to purchase Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) servers that are hashing 76 TH/s at a price of $ 25 per terahash. This assumes a total hashrate of 400.00 . The Profit Details also take in consideration the current network hash rate of 1.7596801059571E13 and current BTC/USD exchange rate of 1 BTC = $ 18,743.69 . These figures vary based on the total network hash rate and on the BTC to USD conversion rate. Block reward is fixed at 6.25 BTC. The Profit Details do not take into account any future changes in block rewards, hashrate and difficulty rate. All inputs in this calculator vary over time. The profit details is based on current values only and should be used as a guide only.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:22 am

How To Dual Mine ETH/ETC With ZIL - Boost Your 3GB/4GB GPU Profits!|15:30
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:29 am
3 Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware ASICs for 2019-2020 - Reviews & Comparison.
Some see the mining of bitcoin as a hobby. Others see in this lesson a profitable business or a way to get profit. To evaluate the profitability of miner hardware, you need to compare the cost of electricity, device and some fees. Sometimes it turns out that to buy coins is more profitable. We will cover all this in more detail in this review.
ASIC stands for the application-specific integrated circuit. These schemes do not perform general functions but act only in a strict framework to solve a specific problem. Therefore, to mine the Bitcoin through ASICs is chip then using another Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
ASIC Bitcoin Miner.
Initially, crypto enthusiasts could receive Bitcoin with computer help. Mining is the award of aggregate mathematical problems using specialized powerful miners hardware and software.
Then they started to use graphic processors and FPGA (field-programmable gate array), but soon they also ceased to be quite useful. ASIC miner is the best bitcoin miner of the latest generation. It provides a higher cryptocurrency mining speed, the machine heats less and consumes less electricity.
You can try mining through the computer, but only as a hobby or to understand how this process occurs. The hash power (computing power) and the hash rate of conventional computers are significantly lower (about 40-50 times) than mining rig.
Best miners should be profitable. New machines should cover the prices you pay for them. Moreover, the Bitcoins received must have more high values ​​than the electricity spent on their production.
Estimated Electricity Cost Of Mining One Bitcoin By Country.
To calculate the worth of all factors, you need to make a comparison. The difficulty is that the value of BTC is continuously changing. Before you buy mining rigs, make a simple calculator:
Hashing rate; A bitcoin sale price; Power consumption; How much USD a participant needs to pay per month for current; The number of coins you get per month.
To choose the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) chip, first, a client should to find out which is the most powerful of the miners accessible. Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware has the following features:
The evolution of bitcoin chips Most significant hash rate will permit to get more currency. Effectiveness is expressed in how much electricity is required to get a certain sum of coins. Currently, the most effective is the ASIC mining hardware. The price of the fastest equipment cannot be low or average. The lower the cost, the smaller the efficiency (you may even go negative). Beware of scam on the mart. Trusted manufacturers can be sold on eBay or Amazon. But before buying, check all the details about graphics and setup.
Even a used hash miner may be beneficial to you. Check out ASIC Bitcoin miners such as Dragonmint miner or The Antminer S9.
DragonMint B29 and Antminer S9.
In addition to high speed, manufacturers must provide a low hash price. It means that the performance of the facility will be high.
Here are reliable brands to watch out for.
This brand is created in China and produces reliable Bitcoin ASIC chips. The most popular among devices is Bitmain Antminer. The equipment of this brand is capable of mining coins of Bitcoin, Litecoin, Ethereum and Dash. Besides, the company owns one of the greatest Bitcoin pool.
It is a famous Chinese apparatus brand that started with FPGA. As technology stepped forward, the company released its own ASIC chip. The market share held by the brand is about 20%.
Halong Mining.
Halong Mining collaborates with Samsung brand from South Korea. The company entered the market only in 2018 but has already become a leader in this industry. Halong Mining produces the most powerful Bitcoin miner ASIC to date, called DragonMint T1.
The international company has branches in the USA and China. The brand specializes in diverse digital technology. The brand is currently releasing one of the best ASIC Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware called Terminator T3.
GMO Internet is a Japanese brand. The company is engaged not only in the production of cryptocurrency equipment but also in advertising and financial services via the Internet. The brand even has its projects among crypto exchanges working on the blockchain (such as Coinbase).
The abbreviated name sounds like Ebang. The main field of activity of the company is the creation and sale of optical fiber for telecommunications. The latest ASICs mining equipment is one of the best using ASICs and competes with Bitmain.
Bitfury is one of the first companies to start producing Bitcoin miners. Bitfury themselves mine coins on their equipment. Large data centers are located in Canada, Norway, Iceland, Georgia. The range includes ASIC mining chips, servers, and portable data centers.
Bitcoin USB Miners Comparison.
USB miner is not high-performance equipment. This type of device only helps you understand the principle of coin mining. Besides, USB mining equipment is cheaper.
ASICMiner Block Erupter USB 330MH / s Sapphire Miner.
There is the standard option among USB Bitcoin miners. The expected profit is only $ 0.01 per month. At the same time, the hash power is 330mh/s-336mh/s.
GekkoScience Compac USB Stick Bitcoin Miner.
The device works simply through the connected USB port, absolutely silently. At the same time, your profit will be approximately 0.15 USD per month.
Avalon Nano 3.
Do not confuse this device with the crypto wallet Ledger Nano. Both devices look about the same, but they have entirely different functions. A wallet keeps your coins. While Avalon Nano 3 allows you to get Bitcoins for 1 USD per year.
Bitmain Antrouter R1 Wifi Solo Bitcoin Miner.
Your production will be a little more than 1 USD per year. Even with the low price of equipment, it does not look too cost-effective. But this device has an additional plus. It also operates as a wireless router, providing you with wireless Internet.
21 Bitcoin Computer.
There is not the most efficient USB bitcoin miner. It connects via a standard USB port. But under the current circumstances, you are unlikely to be able to count on profit in virtue of the poor hash rate.
Dragonmint T16 vs. Antminer s9.
In 2019, the most efficient Bitcoin miner is Dragonmint T16. The manufacturer supplied a 16 t / s machine. No other equipment can boast such an indicator.
Using Dragonmint T16, you also save energy. The user needs only 0.075 J / GH. While the Bitmain Antminer S9 consumes 0.098 J / GH.
And another Dragonmint T16 bonus is the ASICBOOST algorithm, which increases the effectiveness by 20%.
Now comparing electricity consumption, din seems like a slight advantage. But if you intend to mine coins in pro volumes, you will feel the savings. Returns to the price of electricity. Even if it is high, both ASICs Bitcoin installations will bring you profit.
Bitmain Antminer S7.
The first release of Antminer S7 came in 2015. Those days, it was the most effective equipment. The BM1385 ASIC chip and two cooling fans are integrated into the metal case. The manufacturer recommends the additional use of a 1600 W power supply.
The hash rate is 4.73 TH / s; Efficiency is about 0.25 J / G / s; Equipment is in the middle price category; There are many instructions on working with Antminer S7 available on the market; Easy to buy spare parts if necessary.
Antminer S7 is less capable than the modern AntMiner S9; High energy costs await you; To achieve stable results, you need an additional power supply; Noise during operation exceeds the average.
Currently, even if the user does not takes into account the worth of the device, but only the cost of electricity, he receives losses. Perhaps if the value of Bitcoin increases significantly, this equipment could be a bargain.
Bitmain Antminer S5.
The equipment, emitted in 2014, loses much in power to modern devices. Antminer S5 consumes only 590 W and does not require an additional energy production. The device is possible to connect to a PC. Using only this mechanism, you will not get coins. The user needs special software and membership in a large Bitcoin pool.
Low cost of the device; Low power consumption (respectively, petty bills for payment); Antminer S5 is easy to configure and suitable for newbies.
The sound from the exploitation of the device is above average; There is only one cooling fan; Low hash rate.
Even in the case of a sharp jump in the cost of Bitcoin, you are unlikely to get positive results. Installation is only suitable for training.
Spondoolies SP20.
The brand was first introduced in 2014. In those conditions, this device was cost-effective. But already in 2016, it was discontinued. The device has compact dimensions and a metal case. If someone likes rarity, he may find this miner on eBay for more than $ 100.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:29 am
The miner works with any power supplies; The device is one of the cheapest among analogs; It is possible to connect two low-power reserves; A working device emits little noise; Even a novice can easily configure a simple user interface.
The device has a low hash rate compared to modern standards (accordingly, efficiency suffers); During operation, the case becomes very hot; SP20 connects only via Ethernet; The miner may only be operated at ambient temperatures under 35 ° C.
In general, the installation provides extremely low profitability in 2019. For a year you will not get even 1 USD.
Dragonmint 16T.
Halong Mining announced during the announcement of DragonMint 16T in 2018 that about $ 30 million was spent on research and testing. These efforts did not become in vain, because today, this miner is the most powerful and profitable among competitors.
The hash rate was 16 thousand UD / s. The introduction of ASICBOOST technology (a fragment of the Bitcoin software code) has increased the efficiency by an additional 20%.
Test launches have confirmed that the miner is developing the declared speed and is highly efficient; It is possible to work with a standard voltage of 220-240V; You will get the lowest possible energy consumption from all available options. You can buy both one device and several at a time. There are no restrictions on the volume of the party.
The price is too high for an ordinary crypto enthusiast; To start, the user needs to additionally purchase a branded power supply unit (also not very cheap); Power consumption varies depending on the used power supply; The device may work at full strength only in conjunction with the original power supply.
The average projected income from the use of one installation is about 1.5 thousand USD.
Best Bitcoin Miners for 2019-2020.
Given a great number of mining facilities, we understand how difficult it is to opt for any one installation. The buyer needs to focus primarily on high efficiency (and, of course, the price he can afford to pay for equipment). But consider the cost of paying for electricity. In most cases, you will lose half of your income or so to cover your bills.
In this review, we will look at the three most popular and cost-effective options.
Antminer s17.
The product release came at the beginning of 2019. It is the flagship model of Bitmain. The capacity is 62 thousand tons / s. At the same time, energy costs are very high and equal to 2790 watts. Two hardware settings are available to you:
Normal; Professional.
You can earn more than 0.06 BTC per month. But, as expected, about half of the profits will be "eaten" by paying for electricity.
EBIT E12 +
The hash rate of this miner is slightly lower than the previous one and is.
50TH / s. However, the required power for starting is lower (2500 W). This combination is very effective in today's market. Having a profit of more than 0.05 BTC per month, you will spend 47% on paying bills.
Innosilicon Terminator T3.
Of all three samples, this is the least powerful, but this does not mean that it is the least lucrative. The hash rate is at the right level and amounts to 43TH / s. The maximum power consumption does not exceed 2100 watts. You can earn more than 0.04 BTC per month. Subtract half for the payment of electricity.
In the article, we mentioned Bitcoin pools several times. It is time to clarify what it is in more detail.
Beginners who are just trying to get coins would not be able to achieve at least some results due to intense competition. Therefore, they have only one way out - this is to combine their efforts. Such an association in the Bitcoin society is called pool.
Even the most modern potent facilities will not provide anyone with the same power as professional data centers, which include many special (expensive) pieces of equipment.
If the pool won the race for coins, all revenue is distributed among the participants in proportion to their contribution. The standard membership fee is 2%. Now several large pools control the situation. Due to a large number of participants, the revenue of each of them will not be as significant as we would like.
For practical mining of Bitcoins, each member needs not only a specialized installation but also additional equipment:
Individual power supplies allow more efficient use of electricity. If the old models of miners could be connected directly to the outlet, then the new top equipment will not even turn on without a particular power source. Cooling fans allow mining units to run smoothly. In the case of overheating, the machine switches off spontaneously. Standby generators are needed to secure the primary source of electricity. Miners Revenue.
People may get significant profit from mining Bitcoins if they have a modern ASIC installation and cheap electricity. The situation changes daily due to the floating rate of all cryptocurrencies.
Today on the market there are only a few advantageous offers among miners. If the price of Bitcoin rises, most likely, more and more new manufacturers will begin to develop and offer their versions of mining installations. And an increase in supply will entail a reduction in prices. Then more players will be able to join the Bitcoin network.
I am a crypto enthusiast. Bitcoin miner in 2013. AERGO Ambassador. I believe that blockchain technology is the future. My goal is to clarify the value of cryptocurrencies and blockchain in a free economy and security. I want to contribute to the implementation of these technologies in people's lives through an explanation of the principles of its work.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:30 am

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Title: Re: Bitcoin mining.
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7 Best ASIC Miners 2020: Tried and Tested With Reviews.
Bitmain Antminer S9.
Cryptocurrency is arguably the best gift the 21st century has to offer. It started off a little shaky, but with time, it has grown more and more stable.
For the sake of your future, financial future, it is wise that you start thinking of accumulating Bitcoins. For this, you will first need to understand how they work, how to transact in Bitcoins and above all, how to mine it. The theory and process of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be complicated. However, great minds have developed technology that only requires you to understand the basics of Bitcoin and runs all the complex processes in the background.
Part of this new technology includes Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. It is only through the best asic miners that Bitcoins is added to your wallet (unless you buy bitcoins). Different Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware features different performance levels. And with the ever-increasing complexity of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculations, you will need to have the best asic miner.
In this piece, we review some of the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware and shed light on some of the factors to consider in your search of the best mining hardware.
ASIC Miners: What the Heck is it?
A short term for Application Specific Integrated Circuit, ASIC is a circuit that is made for a specific use rather than being used in general. The miners who indulge in ASIC mining are more developed and sophisticated when they are compared to the traditional miners that use the CPU, GPU, and other components. There are some rare Bitcoin ASIC mining chips and they, along with the common ones, can be used on their own when it comes to the subject of mining of the Bitcoin.
When it comes to mining with a greater speed, ASIC miners play a huge role and they are more productive and cost-effective than the traditional Bitcoin miners. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is effective only when there is a net benefit in regard to productivity and low cost of running. They are high on consuming electricity and there are users who often combine rigs and ASIC chips just to bring the costs even lower.
The ASIC miners are designed to basically work and be co-joined with the mining rigs. The advantage of adding the ASIC chips to the mining rigs is that they make mining the coins with the rigs quite a lot more efficient. The ASIC chips can outperform a stack of GPUs any day. When pit against one another, the ASIC chips hash the transactions 100 times faster than a typical stack of GPUs.
This is because the ASIC chips are the next step in the journey of technology and also, they are more energy efficient, consuming less energy than the GPUs. Analysts predict that the next few years will see the viability of the ASIC chips since there are no such plans or technologies that can replace the chips within the energy frame.
One of the biggest advantage of having an ASIC chip instead of a typical miner is that while other miners are busy waiting for the transactions to be processed, you will be mining the coins at a much higher rate, giving you a strategic advantage over them.
The one thing that might irk you a bit is that since the chips are quite task-specific and are made for the sole purpose of mining bitcoins, the cost to build them can go quite high. While you may want the speed of hashing coins to be high, the time that is required to make a microchip for a task-specific functionality is quite a lot. The first miner that was released using an ASIC chip was made by Bitmain in May 2016 in China.
Even though it was designed to mine the Bitcoin, there were other SHA-256 coins that could be mined with it. It was proven quite vividly that the ASIC chips are better than the FPGAs, GPUs, and CPU combination when it comes to the speed of mining and the hash rate.
ASIC Miner: Common and Popular Brands.
There are many companies which are manufacturing ASIC miners, making the microchips based on the same technologies. A minor tweak here and there differentiates the brands from each other and each one has its own price and features. Here are a few of them that have been rated quite high and are commonly used by the miners around the world:
Bitmain : When it comes to the different Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) tools, there is no name that is more resonant than Bitmain. This is the company that was responsible for the Antminer, and over the years, it has become the biggest supplier of all the mining tools that are used by the people around the world. Even though the company mass produces the ASIC miners now, the price has not seen quite an affordable purchase. A typical Bitcoin miner from Bitmain comes at a price of around $1,100.The one interesting thing about Bitmain miners is that they come with a three month warranty. Depending upon the model that you choose, the hash rate of the miner varies from 8 to 14 TH/s. Each model has its own efficiency and depending on that, the profitability of the ASIC miners also varies. There have been reports where users from some batches of the miners have claimed that the miners were quite unstable. Halong Mining : This one started out as a ASIC mining startup, there was no one who could say that Halong Mining equipment could become one of the best in the world. Once the startup was established, Halong Mining launched the Dragonmint T16 miner. This brought quite a lot of recognition to the company and people started to believe that this upcoming startup was going to be the best thing that ever happened to the ASIC mining community . The Halong miner started to compete with the pioneer Bitmain and they have gone head to head, competing for the top spot. Halong Mining has started an advertising campaign to highlight the benefits of the ASIC miner made by them. With the advertisements, the company has made endeavours to create a sense of trust with its customers and credibility.According to the company, millions of dollars went into the development of the Dragonmint T16. The first batch for the miner shipped in March 2020 and there have been no complaints ever since. Running between a voltage of 220V and 240V, the miner consumes 0.075 J/GH, and has a hash rate of around 16 TH/s. Canaan Creative : When it comes to the most stable bitcoin miners, there is no name that is as recognised as that of the Canaan Creative. Within the miner, there is an Avalon controller that can attach up to 4 miners on a single network.While the cost of the miner is quite premium, coming in at around $700, there are users who have claimed that the mining of the Canaan Creative miner is not as efficient as that of the Bitmain miner. If the reports and comments are to be believed, the average hash rate of the miner by Canaan Creative comes in at around 7.3 TH/s. Baikal : Baikal is a name that is known to all, for their work that it is doing in research and development of technology and the microchips since 2008. This was the company that created the SHA-256 algorithm chips back in 2013. They gained quite a lot of experience from the development of the aforementioned chips and they implemented the said experience in the future technologies that they began to develop.There are four product lines from Baikal which are offering quite a lot of products related to technology. These are Giant B, N, x10, and plus. There are other products from the company as well which help in the mining process. These include mining tutorials, customer service, and support after the sales of the products, among a long line of services. Ebang : Combining efficiency with stability, Ebang brings you the ASIC mining chips at a price between $700 and $1,100, depending upon the model that you go for. The mining chips made by Ebang make use of the 14 nm technology and this helps the chips to push out a hash rate from 6.3 to 9 TH/s. GekkoScience : There was a small mining firm in the United States of America that dreamt of making it big. They did so with the company now known as GekkoScience. The company now manufactures USB micro miners having incorporated the existing ASIC chips into their own designs. However, the end results are not always profitable, as is seen by the GekkoScience 2 PAC.
There is a lot of excitement building up because of a tweet by MyRig showing a wafer and claiming that it was produced by the technological giant Samsung. The truth about the claim is not yet confirmed but if it is considered to be based on a solid foundation, there is an oncoming slaught that will change the entire industry. Another rumour is that Samsung has been producing the chips for over a year.
However, the buyer of the chips is still unknown even though there are some people who believe that the chips are sold to Halong Mining for the production of the Dragonmint T1 miner. If Samsung joins the game, it could become the largest producer of the ASIC mining chips since it has considerable resources at its disposal and the price could also see a marginal drop since the chips will be produced at quite a large level to meet the demand.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:33 am

#042 HOW TO: Dual mining ETC + ZIL with Phoenix Miner with 4GB graphics cards|6:39
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:33 am
ASIC Miners: How do they Work?
There are two different ways in which the ASIC miners are manufactured. They can either be pre-manufactured to work with a specific application or manufactured and then integrated with a custom application.
The typical parts of an ASIC miner are the software for mining, the ASIC chip, a power source, and the fans to keep the system cool. The entire rig consists of the fans, ASIC chips, and the processors among the main components.
If you wish to understand the working of an ASIC miner, you do not have to spend unnecessary money on becoming a mining expert. Instead, you can go for the low-cost tutorials that are available on the internet. Another way that you can opt is to use the USB miners. While they are quite cheap, the hash rate on them is quite low. This is understandable since you are getting what you pay for.
On a typical USB miner costing around $30, you will get an average hash rate of 330 MH/s. The return of investment by using this type of miner is usually around 1% per month. You will want to invest in an ASIC miner if you are planning to build a premium Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
If you are in the market looking for the best ASIC miner, you will want to go with the Antminer S9, coming with a hash rate of 14 TH/s. This miner uses quite a lot of power and this is why you will need a power source that supplies more than 1275 watts. You can go with either of the two choices, depending upon the type of power that you are choosing:
110V PSUs like the Gold Rated 1000 watt PSU, or 650 watt Power the ASIC Miner.
There are just three simple steps that you have to follow in order to get started. These are as follows:
Using the PCIe cables, connect the PSU with the Antminer S9. This will automatically connect the miner to the Ethernet cable. After this, you will have to turn on the PSU, ensuring that the miner has started working. The last step is to connect your PC to the same network as the miner and you are done.
ASIC Miners: Getting Started.
Before you start building up hardware for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), there are a few things that you need to consider. There are some people who prefer to set up the mining rigs at their homes but if you are thinking about making a substantial profit, you will have to have a proper setup that is not feasible at homes.
You have to make some tough calculations and get the answers to what you want in profits. You can put in thousands of dollars and then not make a profit if you are not set up with the right equipment. This will just be a waste of your efforts and money and you will end up regretting ever putting your mind to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
If you are looking to join the industry and make a profit, you will either have to build up a hardware that is capable of making you profits or purchase one of the pre-built rigs that are available in the market.
There are a few things that you require when you are looking to mine some bitcoins. These include:
An ASIC miner, A software that is going to be compatible with the miner, such as BFGMiner or CGMiner, A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator that will help you determine the number of altcoins that have been mined. This figure will be in cahoots with the power of the ASIC mining gadgets that you have. You can also use an additional fan for a better cooling of the components. A Bitcoin wallet. This will be the wallet where you will be storing the all the coins that have been mined by your setup. You can also use a slush pool as a pool mining account.
The process of mining is quite easy to understand and once you are familiar with it, you will be able to start the process whenever you want once you have the hardware set up.
The first thing that you have to do is to connect your ASIC miner gadget to your PC. After that, you can use the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator to calculate the proceeds in the form of the bitcoin results. If you do not have a pool mining account, sign up for a slush pool account. You will need to connect the ASIC miner to the pool mining account. The next step is to set up the configuration of the pool mining account. Usually, this step requires the address of the server port and the pool. After this, you will need to boot up your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software, such as the CGMiner or the BFGMiner. The software will then ask you to enter your address pool, port, username and password. Start the mining process and mine the bitcoin accordingly.
How to Choose the Best Mining Hardware.
Hash rate refers to the number of complex calculations that the hardware can complete in every second. The Hash rate is a critical factor as a high hash rate increases the chances of solving the complex mathematical computations necessary for earning Bitcoin as a reward.
In Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), what you will be looking for is a specific solution. With hash algorithms, similar mathematical problems will always give similar solutions. They are however designed to run unpredictably. As such, the only best way to get the specific solution right is to try many different (randomly). In addition to this, you should note that mining is competitive. Since after all the transaction request is broadcasted to the peer network. So the miner who gets it right first gets the reward. For these reasons, a high hash rate is essential for profitable mining.
Hash rate is measured in Megahashes or Gigahashes or Terahashes per second. The very first mining hardware featured a hash rate of between 336 MH/s and 14,000,000 MH/s.
Energy Consumption.
Bear in mind that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is an investment. Given that, there are some costs you will have to bear to sustain the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) process. One of the expenses you will have to cater to is energy costs.
The more powerful the hardware you use is the electricity you should expect to consume. As such, before you purchase any mining hardware, you should consider electricity consumption rating in watts. Knowing this will help you work out the costs of energy consumed by the unit. It will help you determine the viability of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) using the said hardware. If your calculations assess the revenue of mining BTC to be less than that of the subsequent energy bills, then the venture is not worthwhile.
Using the energy consumption and hash rate numbers, you can determine just how many hashes can be mined from every watt of electricity flowing through your mining hardware. To make this calculation, divide the hash rate by the hardware's watt consumption.
For instance, if you have a hardware hash rate of 4500 MH/s and it requires about 32 watts of energy, then expect the mining hardware to provide you with approximately 140,625 MH/s for every watt of electricity. To calculate the power bill you should expect every week, month or year, make use of the online Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) energy calculators.
Do the same calculations apply when using a laptop, one may wonder? Well, they do. Laptops consumer energy and have a hash rate as well. Follow the above formula to calculate the energy costs.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:33 am

HiveOs How To -- Dual Miner Setup ETC,ETH,XMR|12:42
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:34 am
The price of the mining hardware is also essential. Do not forget most of the cheap mining hardware will rake in a few Bitcoins. Expensive Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware is unique, fast and efficient. To make a fortune from the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business, be ready to invest. Aim for value and quality in your purchase.
Once you have an idea of the factors to look for as mentioned above, the hunt for the best hardware for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) begins. To make it easy for you, we have already complied a list of the best miners. This will help you determine the best bitcoin miner hardware and start mining bitcons yourself.
Our Top 7 Best ASIC Miners 2020.
The Antminer S5 may not be the latest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware (other models like the S7 and S9, have come after it), but it is still in use, and its efficiency and function is exemplary.
The Bitmain Antminer S5 features a power supply labeled 115 Volts, and that draws about 560 Watts. With the low power needs and consumption, small power supply, similar to those running desktop computers can accommodate the Antminer S5.
With regards to efficiency, the unit produces about 1 GH/s for every 0.51 watts consumed. Which translates to 0.51 J/GH. Compared to its predecessor, the S3, the S5's efficiency has improved. All these integrated features makes it the most powerful bitcoin miner in the current market.
As for the weight, the S5 weighs 2.5kgs. Its reduced weight is courtesy of its lightweight material and the fact that it is open from top to bottom. The setup is not rocket science and requires no prior tech experience. All these features make it the best antminer in the current market.
The Bitmain Antminer S7 was introduced to the market in 2015. It has since become one of the most popular Bitcoin hardware miners and dominates the market courtesy of its low power consumption compared to the S5.
The power supply unit recommended for use the S7 is the 1600 watt APW3. This power supply unit is by far one of the best available in the market. It is precisely designed for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
The miner can run even the most potent mining hardware - the Antminer S9. It, however, requires a minimum of 205 Volts to operate. The optimal power consumption makes it the most efficient bitcoin miner.
The efficiency of the S7 depends on the effectiveness of the power supply used and the ambient temperature. But, at room temperature of about 25 degrees Celsius, the S7 produces about 1300 watts. At this point, you should note that every generation of the Antminer is near twice as efficient when compared to its predecessor.
It weighs 7.5 pounds and features a durable metal casing with a groove and tongue system incorporated into it. Since the unit is noisy, it is not ideal to have it inside a home. Additionally, it is imperative to ensure you put it in a cool environment to ensure that you spend less energy trying to cool it as it mines.
The Bitmain Antminer S9 is currently the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware available on the market. It features the highest hash rate of about 14 TH/sec and is by far the most efficient mining hardware available.
This high hash rate has been made possible courtesy of 3 circuit boards featuring a total of 189 chips. For all that the S9 has to offer, you should expect to pay a pretty penny for it.
The Antminer S9 can be used with the Antminer 1600 Watt power supply efficiently. Speaking of efficiency, the S9 is notably the most efficient mining hardware available. And while it consumes 300 watts more compared to the S7, it is twice as efficient with about 0.1 Joules per Gigahash.
The unit has a sturdy design and weighs 10.4 pounds. The sturdy design comes in handy when a miner needs to arrange the multiple miners on one shelf. Using the S9, you best have it in a garage or a warehouse. The noise produced is unbearable for a home.
T9 is yet another excellent best bitcoin miner 2020 on the list. It should, however, be pointed out that it is slightly on the higher price range. With regards to comparing the T9 to the S9, miners are split on which is better. Below is a brief review of the T9 that will allow choosing between the two an easy process.
The T9 consumes about 1450 watts for approximately 11.5 TH/s for Batch 23. It has an efficiency of 0.126 J/GH. Going with this numbers, the S9 is better than the T9. But before you make the decision, note that the quality chips in the S9 were of a slightly lower quality which leads to their reduced stability. The T9 Miner has this problem fixed.
The T9 also attended to the pre-auto-freq issue prevalent with the S9 miner.
If you are looking for an excellent bitcoin miner at an affordable price, this is the one for you. This product is the latest addition to the industry by the company Canaan. It provides a good hash rate about 7.3 TH/s and features an air forming cooling system that enables 88 chips to function great as a single unit. Also, it helps to keep the miner running at all times.
The unit features an efficiency of 0.16 J/GH. This efficiency rating is way better compared to all other products in its price range.
This mining hardware was introduced into the market in 2018. When talking about Dash ASIC miners, you have to mention the Antminer D3 as it is among the best.
Most miners are using this hardware to first mine dash coins which they later convert into Bitcoins and make huge profits in the process. The Antminer D3 provides a hash rate of 15 GH/s and uses up about 1200 Watts.
Overall, it measures 320x130x190mm which makes it possible to have a neat arrangement when running multiple miners simultaneously.
How ASIC Miner Have Changed the World of Cryptocurrency Mining.
When the idea of the bitcoin and the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) was still new, all you needed was a normal PC with the normal CPU and GPU to start the mining. However, when the idea became popularized, the traditional equipment could not get the desired hash rate. This is when the advancements began to be made. It was known beforehand that when the demand of the bitcoin will rise, there will be a need to develop better hardware to keep up with the demand.
When the traditional CPU proved itself to be ineffective, there was an addition of the GPUs to the system. This kept the hash rate up for a while. However, the exponential growth of the demand meant that there was a need for a better hardware to keep up with the market.
This is when the GPUs became more advanced and stacks of them began to be used to get a higher hash rate. However, the cost of electricity began to rocket through the skies and mining coins on stacks of GPUs stopped being feasible as well.
As and when the miners increase in number, there is going to be a drop in the hash rate if you are using the same equipment. This is when the need for a better technology arose and the ASIC chips came into existence.
As we know quite well by now, the ASIC chips are designed for the sole purpose of mining and they are quite efficient in comparison with the GPUs, producing a higher hash rate at a lower consumption of electricity. This specialized technology has done marvels and companies and individuals around the world have started their own mining farms after the ASIC chips came out.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:35 am

Claymore's Miner DUAL Mining (https://secure.iqmining.com/tiny/e8NNw) ETH + Blake2S Keccak Algorithm Guide|9:49
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:36 am
Since this technology was developed for the sole purpose of mining and cannot be used anywhere else, the cost has to be born by the customers of mining only. This is why some of the best ASIC miners in the world can cost thousands of dollars every month.
There is quite a lot of heat produced when the ASIC miners are at work. This is one of the sole reasons why many companies in the world are having a hard time looking for a suitable place to set up their mining farms. There is a huge requirement of space to accommodate all the equipment and the electricity has to be cheap too. A lot of the space is taken up by the fans that are used to cool down the equipment.
On the other hand, there are some companies which do not have any trouble with this arrangement and they have set up huge mining farms. This has led to the mining of the bitcoin and validation of the blockchain to become more of a centralized process since most of the mining is being done by these few companies.
Can we Mine Without ASIC Miners? YES!
Even though everyone around the world is going to recommend that you invest in an ASIC miner, there are a few other ways in which you can mine the bitcoin and other altcoins. These include:
Mining Pools: This is the process of collaborating with others in the pool and combining the computing power of all to create a block. The rewards of this block are then shared among all the members of the pool propotional to the computing power that they contributed. USB Miners: This is one of the simplest ways of mining; the only thing that you have to do is plug in the USB Miner to the PC. However, it is quite inefficient and is usually considered a waste of the time and money. CPU: This is going to be one of the simplest way of mining; the only requirement is the CPU with a strong processor. This was going to be fruitful a decade ago but now it is not going to bring about any result.
Choosing the Best ASIC Miner: What's Your Choice?
Ultimately, the decision of whether or not to mine Bitcoin lies with you. However, if you need the best mining hardware to make your mining venture profitable, then above are some of the best asic miners you should consider. Ensure you consider the factors we have listed above before choosing the best asic miner.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) asic.
An application-specific integrated circuit (abbreviated as ASIC ) is an integrated circuit (IC) customized for a particular use, rather than intended for general-purpose use. In Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, ASICs were the next step of development after CPUs, GPUs and FPGAs. Capable of easily outperforming the aforementioned platforms for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in both speed and efficiency, all Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware that is practical in use will make use of one or more Bitcoin (SHA256d) ASICs.
Note that Bitcoin ASIC chips generally can only be used for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) . While there are rare exceptions - for example chips that mine both Bitcoin and scrypt - this is often because the chip package effectively has two ASICs: one for Bitcoin and one for scrypt.
The ASIC chip of choice determines, in large part, the cost and efficiency of a given miner, as ASIC development and manufacture are very expensive processes, and the ASIC chips themselves are often the components that require the most power on a Bitcoin miner.
While there are many Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware manufacturers, some of these should be seen as systems integrators - using the ASIC chips manufactured by other parties, and combining them with other electronic components on a board to form the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware.
Bitcoin ASIC development pace.
The pace at which Bitcoin ASICs have been developed, for a previously non-existent market, has seen some academic interest. One paper titled "Bitcoin and The Age of Bespoke Silicon" notes:
The Bitcoin and Cryptocurrency Technologies online course by Princeton University notes:
A timeline overview for CoinTerra's Goldstrike 1 chip also shows this as 8 months between founding the company and shipping a product.
Bitcoin ASIC specifications.
A Bitcoin ASIC's specification could be seen as having a certain hash rate (e.g. Gh/s) at a certain efficiency (e.g. J/Gh). While cost is another factor, this is often a relatively fixed factor as the minimum cost of a chip will be determined by the fabrication process, while the maximum cost will be determined by market forces, which are outside of post-fabrication technological control.
When reading the specifications for ASICs on this page is that they should be interpreted as being indicative, rather than authoritative. Many of the figures will have come from the manufacturers, who will present their technology in the best light - be that high hash rates that in practice may not be very efficient and require additional cooling, or very high efficiency at a cost of hash rate and risking being slow in the race against difficulty adjustments. Complicating the matter further is that Bitcoin ASICs can often be made to cater to both ends of the spectrum by varying the clock frequency and/or the power provided to the chip (often via a regulated voltage supply). As such, chips can not be directly compared.
Comparing Bitcoin ASICs.
Two proposals have been made in the past for attempts at comparing ASICs - Gh/mm² and η-factor. Gh/mm² is a simple measure of the number of Gigahashes per second of the chip, divided by its die area (area of the the actual silicon). This measure however does not take into account the node size which affects how many logical cells can fit in a given area. As a result, η-factor was suggested at the BitcoinTalk Forums which attempts to take the node size into account, by multiplying the Gh/mm² value by the half the node size, three times.
Although the merit of these approaches can be debated, ultimately these figures are not as important as the ones that detail what is required to make an ASIC work. If an ASIC requires highly stable power supply, then the power supply circuitry on a board may be more expensive than for another ASIC. If the ASIC has a complex communications protocol, additional relatively expensive components may be required. If an ASIC's die is large, fewer (rectangular slices) can be obtained from a (circular) wafer, defects affect its design dispropotionately, and cooling solutions are generally more complex compared to smaller die chips which in turn have other overhead. Chips with a BGA design are less simple to integrate than a QFN, requiring more expensive (inspection and testing) equipment. Nevertheless, for historic purposes they are included in listings here where sufficient information is available.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:36 am

Increase Profits Merge-Mining (https://secure.iqmining.com/tiny/e8NNw) ETH+ZIL!|43:11
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:37 am
Number of cores.
One other oft-mentioned number statistic for an ASIC chip is the number of cores or hashing engines that are on the chip. While this number is directly related to performance, it is not necessarily a comparitive relation. Bitmain Technologies' BM1382 calculates 63 hashes per clock cycle (Hz), while their more efficient BM1384 calculates 55 hashes per clock cycle. Similarly, while these hashes per clock cycle are spot-on for the claims regarding the number of cores, BitFury's BF756C55 is claimed to have 756 cores, but yields around 11.6 hashes per clock cycle. This is because the reference to cores sometimes mean different things, and certain designs result in less straightforward calculation [1] Nevertheless, when a designer makes claims regarding hash rates at certain clock frequencies, one can determine if A. there is a straightforward calculation and B. if the designer is being imprecise (rounding values) or even intentionally dishonest, as the ratio between clock cycles and hash rate should remain the same.
'A Race Toward Zero': With Hashrate in the Clouds, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Is Less Profitable Than Ever.
Colin Harper.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitability is in the basement, seeing all-time lows in 2020. Conversely, bitcoin's hashrate has surged throughout 2020, propelled in part by mining farms financing new hardware to boost their operations. Bitcoin's hashrate has taken a dip as China's wet season comes to an end, but mining professionals predict this will only be temporary, and it has only improved profit margins so much.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profits have been rock bottom in 2020.
For much of the year, the cryptocurrency has been less profitable to mine than ever. And that's because Bitcoin's collective hashrate - or how much computing power is pulsing through the network - has surged to consecutive all-time highs this year.
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According to North American Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) company Luxor's hashprice index, miners are extracting $0.096 for every terahash they produce (before the recent price spike, it was lower still at roughly $0.08). This time three years ago, miners could expect to make roughly $1.40. Their revenue in October of 2019, though several magnitudes less than what they were raking in during 2017's market mania, was still double today's cash flows at $0.16.
Coming into 2020, miners were producing approximately 90 exahashes a second (or 83,000,000,000,000,000,000 cryptographic numbers a second in an effort to generate new blocks). Now, they are producing roughly 124 EH/s, after hitting an all time high of 157 EH/s in mid-October.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is a resource war of attrition, so naturally revenue margins are dwindling in a year when Bitcoin's hashrate is exploding. And ASIC financing could largely be to blame.
The practice, whereby big operations can take out loans to bulk-order newer-generation hardware, floods the network with fresh hashrate. The surge in hashrate has meant more competition than ever for the digital gold rush - and with fewer bits to go around, small-time miners are having trouble keeping up.
Bitcoin's hashrate and mining revenue are inversely proportional.
Luxor Mining pool operator Ethan Vera told CoinDesk the anemic miner revenue is a direct result of the Bitcoin system's growing hashrate, its relatively stagnant price and lower-than-usual transaction fees.
According to Luxor's index, the seven-day hashrate average is currently resting at 124 exahashes a second, and Vera said this "is largely due to Bitmain S19s and Whatsminer M30s being delivered to the market in large quantities."
It's not unusual, of course, for miner revenue to decline when hashrate is going vertical. But Bitcoin's stellar increase in hashrate in 2020, a nearly 30% increase this year, is the result of accelerated investment in the industry. Much of this growth comes from ASIC financing, wherein miners take out loans to buy the best new-generation mining equipment.
The mining finance industry, populated by key players including Blockfills, Arctos, BlockFi, SBI, DCG and Galaxy Digital, continues to grow. Increased competition has led to lower rates, Vera said, with some miners being able to secure sub 10% interest loans. Just a year or so ago, the common rate was 20%.
"A number of North American companies have been in the news recently for large hardware purchases, particularly RIOT Blockchain and Bitfarms. Foundry has also popped up recently and offering financing options for ASIC miners," Thomas Heller, the COO of mining media firm HASHR8, told CoinDesk.
Most recently, CoinDesk reported on Marathon Patent Group's purchase of 10,000 Antminer s-19s, which could pump an estimated 1.1 exhashes into the mining company's operation. This is Marathon's second bulk purchase from Bitmain this year after it scooped up 10,500 ASICs for $23 million in a deal with Bitmain this August.
Stephen Barbour, whose company, Upstream Data, provides oil drillers with mining rigs that run on vented natural gas, sees this as detrimental to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)'s short-to-near-term health. In some cases, he told CoinDesk, the big players aren't always optimized for profitability because they have financial cushions.
"These guys can rent out an old mine, operate at a loss and then recapitalize," he told CoinDesk, referring to these firms' abilities to take out new loans or woo new investors when they need to shore up finances.
A look at one such firm, RIOT Blockchain, makes Barbour's point. The publicly traded company purchased thousands of ASICs this year in a herculean (if quixotic) effort to quadruple its hashrate by 2021. As of June 2020, Riot had net operating losses of nearly $15 million, according to SEC filings. Riot clocked a similar loss in the first half of 2019, and Marathon posted $3.2 million in losses for the first half of 2020.
Northern AG, another publicly traded mining operation, had a net income of -$8.7 million in 2019 and -$5.6 million in 2018. Even the profitable ones, like the likewise public industrial miner Hut 8, barely eked out a profit in 2019: after generating $83 million in revenue, Hut 8 pocketed just $2.1 million after debt obligations and other expenses.
Disregarding profit, these miners continue to expand in hopes of future spoils, but this very activity is sending Bitcoin's hashrate skyward, Barbour argues.
"These guys can get these big loans and they are effectively operating at a loss, and it's propping up the hashrate."
Retail miners feeling the heat.
As these big mining farms scale irrespective of profit, Bitcoin's hashrate pumps, and smaller players are having a hard time keeping up with the suped-up competition.
"It's becoming increasingly challenging for small miners to compete for both hosting and hardware purchases, because lower prices are available for those orders with larger volume," Heller said.
List of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) ASICs.
Contents.
1 ASIC development projects 1.1 21 1.2 ASICMiner 1.3 ASICrising GmbH 1.4 Avalon Project 1.5 BIOSTAR Group 1.6 BitDragonfly 1.7 BitFury Group 1.8 Bitmain Technologies Ltd. 1.9 Black Arrow 1.10 Btc-Digger 1.11 BTCGARDEN 1.12 Butterfly Labs, Inc. 1.13 Clam Ltd 1.14 CoinTerra, Inc. 1.15 DigBig 1.16 Ebang 1.17 Gridchip 1.18 Gridseed 1.19 HashFast Technologies, LLC 1.20 iCoinTech 1.21 Innosilicon 1.22 KnCMiner Sweden AB 1.23 Land Asic 1.24 LK Group 1.25 MegaBigPower 1.26 SFARDS 1.27 Spondoolies-Tech LTD 1.28 TMR 2 Canceled projects 2.1 bASIC 2.2 BTCMinerz 2.3 DeepBit 2.4 helveticoin 2.5 LargeCoin 2.6 Marchenko Ltd 2.7 Novello Technologies 2.8 OpenBitASIC 2.9 papa moi 2.10 Xcrowd 3 Questionable projects 4 References.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:37 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:38 am
ASIC development projects.
ASICMiner.
ASICMiner Unknown a 2015 16nm chip co-developed with BitQuan,BitFountain. The planned node size would be 16nm or 14nm This chip is planned to be introduced in the future.
ASICrising GmbH.
ASICrising Wolfblood x14 a 14nm 200Gh/s 0.08J/Gh chip . As of 1 April 2015 ( 2015 -04-01 ) [update] no further information on this potential chip has become available beyond the Coinbau investment brochure.
Avalon Project.
Avalon Project Unknown a 2015-Jul chip co-developed with Canaan Creative. This chip is rumored to become available around July of 2015.
BIOSTAR Group.
BitDragonfly.
BitFury Group.
BitFury Group Unknown a 40nm chip . BitFury Group would have considered this their Gen 3 product. No information is available on whether the earlier 'Gen 1 Rev 2' is to be seen as 'Gen 2'. This chip may have been canceled altogether.
BitFury Group Unknown a 2015-Sep-02 16nm 0.06J/Gh chip . BitFury Group considers this their Gen 5 product. Date is public announcement of tape-out date. This chip is planned for the future and specifications are highly subject to change.
Bitmain Technologies Ltd.
Bitmain Technologies Ltd. unknown a 2016 16nm chip . This chip has only been alluded to in Bitmain Technologies' BM1385 announcement.
Black Arrow.
Black Arrow Ltd Unknown a 2015-May 14nm 0.3J/Gh chip . Tape-out was purportedly in December 2014 This chip has been declared canceled on the 27th of May, 2015.
Btc-Digger.
BTCGARDEN.
BTCGARDEN www Unknown a 2013-Dec 40nm chip . Along with an IPO, BTCGARDEN's 40nm endeavours were canceled. BTCGARDEN would then go on to use ASICMiner's BE200 40nm chip in mining products.
Butterfly Labs, Inc.
Clam Ltd.
CoinTerra, Inc.
CoinTerra, Inc. SHIVA www BCT a 2014-Sep-18 16nm 0.225J/Gh chip co-developed with Global Unichip Corp. Assumed not to have gone into production before CoinTerra's Chapter 7 Bankruptcy.
DigBig.
Ebang.
Gridchip.
Gridchip Unknown BCT a 2013-Jul-04 40nm 2Gh/s chip . This chip was canceled, however its technology would eventually surface in the Gridseed GC3355.See also: GridSeed, SFARDS.
Gridseed.
HashFast Technologies, LLC.
HashFast Technologies, LLC generation 2' a 2013-Aug-21 16nm chip co-developed with DXCorr. Date is initial design start date. Plans of this chip were revealed in HashFast's bankruptcy case. Although listed here under HashFast Technologies, the IP rights lay with DXCorr. This chip was canceled at some point during its development, in favor of 'generation 1.5.
HashFast Technologies, LLC generation 1.5 a 2013-Dec-01 28nm chip co-developed with DXCorr. Date is initial design start date. Plans of this chip were revealed in HashFast's bankruptcy case. Development of this chip began after 'generation 2.0' was canceled. This chip was canceled after DXCorr ceased verbal communication pending HashFast's bankruptcy case.
iCoinTech.
iCoinTech Unknown a 2014-Apr chip . A next chip was mentioned, and in a private message to TheRealSteve, iCoinTech noted that there were unexpected delays. No new information has since surfaced, and it may have been canceled.
Innosilicon.
KnCMiner Sweden AB.
Land Asic.
LK Group.
LK Group Limited www B-eleven BCT a 14nm 0.26J/Gh chip . Plans for this chip have been announced and claimed to have been taped out. Any specifications are highly subject to change.
MegaBigPower.
MegaBigPower www unknown www BCT a 2014-Jul 28nm 62.5Gh/s 0.5J/Gh chip . Hash rate is a rough estimate based on 2kW at-the-wall miner with 64 chips. Other than website claims no information on this chip is available. Some BitcoinTalk posts suggest the design did not originate entirely with MegaBigPower.
SFARDS.
Spondoolies-Tech LTD.
Spondoolies-Tech LTD Mattock BCT . Mattock was mentioned in the BitcoinTalk thread, but it is uncertain if it is/was to be a (Bitcoin) ASIC.
Spondoolies-Tech LTD unknown a 2015 chip . Considered by Spondoolies-Tech to be their 3rd Generation product. Mentioned only in passing in a BitcoinTalk forum post.
TMR www Unknown www BCT a 2013-Sep-23 110nm 0.313Gh/s 2.5J/Gh chip .
TMR www Unknown www a 2014-Feb 55nm 2Gh/s 0.9J/Gh chip . Intended to be package, pin and protocol compatibe with the TMR's 110nm offering. TMR sought venture capital for development of a 55nm chip, but As of 1 April 2015 ( 2015 -04-01 ) [update] no further information has become available.
Canceled projects.
The following is a list of projects that are known or confidently presumed to have been canceled prior to production.
bASIC.
bASIC unknown www BCT a 2012-Sep-03 90nm 4.5Gh/s 6.413J/Gh chip co-developed with BTCFPGA. This project was effectively canceled on January 9th, 2013.
BTCMinerz.
DeepBit.
DeepBit Reclaimer BCT a 2012-Sep-10 chip . This project was declared canceled on April 8th 2013.
helveticoin.
helveticoin Unknown BCT a 2012-Oct 28nm 64Gh/s 0.078J/Gh chip co-developed with STMicroelectronics. Date is claimed tape-out date. Gh/s performance is based on claimed clock frequency and number of hashing engines. Claimed to incorporate / be built around an ARM Cortex M3 core. Presumed to have been canceled prior to production or to have been a ruse given claims.
LargeCoin.
LargeCoin Unknown BCT a 2012-Jul chip . Presumed to have been canceled prior to production.
Marchenko Ltd.
Marchenko Ltd unknown BCT a 2012-Apr-04 chip . Project was cancelled on July 12th, 2012.
Novello Technologies.
Novello Technologies unknown www BCT a 2014-Jun-03 40nm 128Gh/s 0.195J/Gh chip . Die size is an estimate based on a stated chip size of 100mm² Project was put on indefinite hold on June 12th, 2013.
OpenBitASIC.
OpenBitASIC unknown BCT a 2012-Apr-12 chip . Project was canceled on April 14th, 2013.
papa moi.
Xcrowd.
xCrowd Terra One / Z1 www BCT [media: a ] a 2013-Jul-02 40nm 15Gh/s 1.667J/Gh chip . Listed as both Z1 and Terra One Presumed to have been canceled prior to production.
Questionable projects.
The following is a list of projects that were not formally canceled and are generally presumed to have been dishonest in their presentation of the existence / performance / depiction of the chip and/or the company.
Note: Most links below will lead to external sites. Icons have been suppressed to prevent link clutter.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:38 am
How to Mine Cryptocurrency with Raspberry Pi.
By Caroline Dunn 07 November 2020.
Is it possible to mine for cryptocurrency in 2020 with Raspberry Pi?
With Bitcoins trading at almost $14,000 per bitcoin , perhaps it is finally time for me to get into the cryptocurrency game? Instead of buying bitcoins, could I use my Raspberry Pi to mine for bitcoins instead?
What is Cryptocurrency mining?
Crypto mining is the digital version of mining for gold, combining performing complicated calculations and pure luck (being the first to complete the calculation) with your computer. Mining is essential to cryptocurrencies in order to maintain their distributed ledger, aka Blockchain.
While Bitcoin is the most well-known form of cryptocurrency, it's hardly the only game in town. All forms of cryptocurrency use blockchains to maintain the validity of each transaction and prevent someone from fraudulently spending their coins more than once.
Is Raspberry Pi Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitable in 2020?
My initial research showed that mining for bitcoins with any consumer grade computer is not profitable when factoring in the cost of electricity and hardware . Most Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is now done on ASIC Bitcoin Miners ; hobbyists and individuals can find limited success by joining a mining pool, harnessing the power of a group of distributed computers. What if we joined a mining pool, used solar panels to power our Pi, and 'wrote-off' the cost of our hardware? Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is an extremely competitive venture with too many other miners, increasing difficulty levels, and lower rewards for miners .
Despite this gloom and doom news, I decided to forge ahead with this project and set my sights on alternative cryptocurrencies. As of the writing of this article, there are over six thousand alternative cryptocurrencies traded today.
Individual cryptocurrency mining was out of the question since we are using a Raspberry Pi and not an ASIC Bitcoin Miner . I looked at several mining pool software groups I could join; most had options for Windows and MacOS; there were no mining pools with support for Raspberry Pi. Raspberry Pi is not supported by Linux miner software due to its ARM Architecture. Supported Linux mining software is based on x86 processors found in typical PCs.
Disclaimer: This article is presented as an educational opportunity to spark interest in learning more about blockchain and cryptocurrency, and not necessarily to generate cryptocurrency. The methods described in this article are hacks and not officially supported. The easier and faster method is to download and install the free software associated with the mining pool of your choice on your PC.
What You'll Need for this Project.
Raspberry Pi 4 or Raspberry Pi 3 8 GB (or larger) microSD card (see best Raspberry Pi microSD cards) with a fresh install of Raspberry Pi Lite OS or Raspberry Pi OS with Desktop. Power supply/Keyboard/Mouse/Monitor/HDMI Cable (for your Raspberry Pi) Optional (Recommended): Heatsinks and fan for your Raspberry Pi Optional: Solar Panel Power Bank with USB-C Optional: Raspberry Pi Cluster Case with Heatsinks and Fans.
This tutorial is based on terminal commands. If you are not familiar with terminal commands on your Raspberry Pi, we highly recommend reviewing 25+ Linux Commands Raspberry Pi Users Need to Know first.
How to Mine for Cryptocurrency on Raspberry Pi.
We will start by creating our account with Minergate , a cryptocurrency mining pool with 3.5 million users worldwide for Bitcoin Gold, Zcash, Ethereum, Ethereum Classic, and Monero . This tutorial is specific to mining Monero as it was the only cryptocurrency I had any level of success with.
2. Boot your Raspberry Pi. If you don't already have a microSD card see our article on how to set up a Raspberry Pi for the first time or how to do a headless Raspberry Pi install .
3. If you are using Raspberry Pi OS with Desktop, open a Terminal , or press Ctrl-T . If you are using Raspberry Pi Lite, login as you would normally.
4. Once in your terminal, run the following updates and install the necessary dependencies:
5. Now, let's compile the mining code with the following three commands. This step will take a couple of minutes on a Raspberry Pi 4.
6. After building and configuring our mining software on our Raspberry Pi, let's start mining for Monero ! Enter the following terminal command to start the miner, replacing YOUR_EMAIL with the email address you used to signup for your Minergate account.
You should see the mining software start and hopefully see a few shares 'accepted' with 'yes!'
7. Let's check your Minergate Dashboard by logging into https://minergate.com/internal . You can do this on a Chromium browser if using Raspberry Pi Desktop, or on your PC. Scroll down your dashboard until you see Monero. If everything is working, your Monero Status will indicate ONLINE. Congratulations! You're now mining for Monero!
How to Start Raspberry Pi Crypto Mining on Boot.
To automatically start our cryptocurrency miner on boot on our Raspberry Pi, we'll use the Crontab method.
If you haven't set the crontab previously, you'll see the response "no crontab for pi, Select an editor."
1. Type '1' and hit Enter .
2. This will open a new crontab file, arrow down to the bottom of your crontab file and enter the command below, replacing YOUR_EMAIL, with the email address you used when creating your Minergate account.
4. Press Ctrl-X , and y to save your crontab .
5. Now reboot your Pi by typing ' sudo reboot ' in your Terminal .
How much Monero did I mine with Raspberry Pi?
My Raspberry Pi 4 calculated 357 good shares in about 8 hours of run time. Miners are rewarded for good shares . Bad Shares are calculations where I came up with the right answer, but my Pi produced the results slower than another computer. Miners only get paid when they submit the correct answer first. Invalid shares are the worst as a miner is penalized for every invalid share due to possible fraudulent activity. I was a bit worried when my first 4 shares were marked as invalid shares.
357 good shares = 0.000001410642 Monero = 0.00015569 USD.
I made the equivalent of 1/100th of a penny in 8 hours.
In order to withdraw my Monero, I needed a minimum of 0.05 Monero , approximately equal to $5.811 USD . (Exchange rate at the time of the writing of this article.) At a pace of accumulating 0.000001410642 Monero per 8 hours , it would take me 3,762 years to reach the minimum withdrawal threshold of 0.05 Monero.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:39 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:39 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:40 am
Interesting to Know. Mining (https://secure.iqmining.com/tiny/e8NNw) and production of platinum metals|3:28
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:41 am
Lessons Learned about Raspberry Pi Crypto mining.
As stated at the beginning of this article, the purpose of this exercise was to learn about cryptocurrency and not to make a profit.
Cryptocurrency mining rewards are calculated by shares and hash rates. My hash rate varied from 1.6 H/s to 33.3 H/s. The average hash rate for the pool was 10.27 MH/s, approximately 3 million times my Pi's hash rate. For reference, 1 MH/s is 1,000,000 hashes per second. The mining pool company (in this case Minergate), also charges a small commission on your transactions. You have the choice of luck based commission (higher risk, higher reward), or Pay Per Share (higher commission for Minergate, but less risk). At various points during the writing of this article, my Pi had numerous 'time out' errors and 'send_line failed.' Sometimes a reboot of the Pi would help, and sometimes, the miner would eventually start working again without human intervention.
it would take me 3,762 years to reach the minimum withdrawal threshold.
Crypto-"mining" is a type of Ponzi scheme. Don't do it!
Why not plug a usb crypto miner into your pi? They usually produce around 300MH/s at around 2.5-10W.
A few questions:
You mention the ARM CPU as a limiting factor. Would it work better with a cheap x86 unit like the Atomic Pi?
The last time I checked, World Community Grid had a client for ARM but no actual jobs to process. Has that changed?
Have you tried the xmrig miner?
Is there any real use for Monero? No one seems to want it.
How to Mine Cryptocurrency with Raspberry Pi : Read more.
If you want to go deeper down this rabbit hole I'd recommend investigating mining uPlexa instead of Monero on smaller devices like the Raspberry PI. More information here: https://www.uplexa.com/. While Monero has wider adoption, uPlexa is growing. you can exchange uPlexa for Ethereum on Stex and Bitcoin on Graviex.
Because it's designed for IoT you won't run into issues with Bad or Invalid shares mining uPlexa on your Raspberry PI. There are pools like upxpool.com that offer ports with very low difficulty that are also perfect for older Android phones (you can mine using their dedicated Android app or run Ubuntu in Termux), Raspberry PI, etc.
After overclocking my RPI4 and installing Raspberry OS 64 bit. I've been running xmrigCC for months and get a solid 1.1 kH/s hashrate. While that still will only net you about 19 cents a month at current values that's a significant improvement over Monero. And in 6 months uPlexa's exchange value has fluctuated significantly. That 19 cents was worth closer to 50 cents over the summer.
More importantly. there's a ton of development happening with uPlexa. They will be launching a new update shortly called Steadfast Storm which includes a dVPN on the uPlexa network. Mining powers the network. And a few days worth of mining on your RPI should be more than enough to cover access.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:41 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) with a Raspberry Pi.
First Published 14th January 2018, Last Updated 22nd August 2019 by Tim Trott.
Raspberry Pi Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) with AntMiner U2.
Since this guide has been written the difficulty involved in mining Bitcoin has increased significantly. The techniques presented here are no longer profitable and you will spend more on electricity than you would ever hope to gain through mining. When I fired up my miner to update this, the estimated payout was in 108 years time, for 0.0001 Bitcoin. This is for information purposes only.
Raspberry Pi in combination with a USB ASIC miner chip makes a good Bitcoin miner (PiMiner) due to its low power usage and ease of configuration. ASIC devices are specialised computing processors specific to the SHA256 algorithm used in Bitcoin hashes. They are much more efficient than pure CPU computations. The Raspberry Pi is a very cheap and efficient way to control and monitor devices which are better suited to mining Bitcoins.
To get started mining Bitcoins with a Raspberry Pi and an Antminer U2 USB ASIC device, you will also need:
A Pool Account (Recommended: SlushPool.com) A BitCoin Wallet Powered USB Hub (Optional for Pi3, Required for is the details from the Slushpool worker configuration.
If everything is plugged in correctly bfgminer should automatically recognise the antminers and start mining. Depending on which version of Antminer you have, you will see the speed and hash rates shown in the screen. Antminer U2 should be around 1.6Gh/s.
The three speed numbers you see indicate the last 5s avg speed, the All-Time Average (for this program run) and the Effective Average (actual performance taking into account failures etc).
While you won't get rich running a single Raspberry Pi Bitcoin Rig, you can learn about cryptocurrency, mining and of course the Raspberry Pi. As a tool for education, this can help you decide if you wish to invest in more appropriate equipment to mine cryptocurrency. Idea: Why not try Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on a Raspberry Pi cluster?
13th June 2019 at 3:56 am.
I am trying to implement the "Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) using RPi" project and am facing a little bit of trouble when I am trying to get the setup functioning to start mining bitcoins.Could you please help me out ?
I am using a RPi 3 flashed with Raspbian stretch OS (full version, not the lite version) Gekkoscience compac USB ASIC Bitcoin core wallet SlushPool pooled mining account BFGminer USB Hub.
I've already linked the Bitcoin core wallet to the slushpool account and also have installed the BFGminer onto the RPi.
There seems to be some problem/error occuring when I run the final command i.e bfgminer -S all -o stratum+tcp://eu.stratum.slushpool.com:3333 -u -p The mining process doesn't start. the screen shows something like "waiting for devices. press M+ to add devices or Q to quit" something like that and the quickly it moves on to another screen which keeps displaying "Trying in 15 seconds" something like that..
Can somebody help me out with this ?
I will be able to share screenshots of error message if somebody is really interested in solving the issue.
28th July 2018 at 12:00 am.
I'm trying to run bfgminer but I keep getting "No servers could be used. Exiting" trying to connect with nicehash and slush pool. Tried with and without sudo, and installed from repository using instructions here. Raspbian stretch 9. I heard it could be to do with libcurl or ufw but I don't know how to check or test these. Could somebody help please?
Leave a Reply Cancel reply.
Tim Trott is a creative photographer, traveller, astronomer and software engineer with a passion for self-growth and a desire for personal challenge.
How to Create a Raspberry Pi Bitcoin Miner.
If you don't know already, Bitcoin is a virtual currency set up in 2009. Bitcoin has grown in reputation over the past few years becoming a very popular as a method to pay for services over the internet. The value has rocketed recently thanks to the huge coverage in the media, for both positive and negative reasons.
There are two ways to get Bitcoin:
Buying them from an exchange, which is the process of converting local currency to Bitcoin. Mining them . Mining is the process of verifying transactions in the blockchain .
As the whole of the Bitcoin system is decentralised, every transaction is publically viewable within what is called the blockchain. This blockchain contains every bitcoin exchanged between users so, as there is no central server, it has to be self governed. This is the job of the miners.
Requirements.
In order to mine Bitcoin, you will need:
A pool account Bitcoin Wallet Raspberry Pi Raspbian image SD card USB Bitcoin miner.
Creating an Account.
There are four things you need to do:
Download a bitcoin wallet Create a pool account Set up payment Set up workers.
Download a Bitcoin Wallet.
A wallet is a program that sits on your computer and gives you a wallet address , this is a unique string of numbers and letters that you will use to receive bitcoins. Download the client for your computer from https://bitcoin.org/en/download.
After installation, you will have to save a file called wallet.dat , keep this file safe, as this contains your unique wallet address within it, including all bitcoins that you will gain. If you lose this file, you cannot recover any bitcoins it contained.
Create a Pool Account.
Once you have a wallet address, create a pool account. A pool is a huge collection of other people working towards gaining bitcoins. Due to the complexity of mining a bitcoin, it has become unrealistic to solo mine-the act of processing millions of numbers to solve the block problem. Working as a group, or pool, lets everyone have a chance of earning some Bitcoin. There are many pools around, in this tutorial I'll be using one called Slush's pool: http://mining.bitcoin.cz/
Set Up Payment.
Once you have created a pool account, you'll need to enter your unique wallet address into the Bitcoin payout address.
Create Worker Account.
Next step is to create a worker login account. Within your pool account you have the ability to create something called a worker for each of your bitcoin miners, so you're able to monitor them all separately just in case one should fail.
Each worker has its own login name and password. Whilst you are on My Account click Register New Worker and give it a name, for example; worker, and a password .
Now you're ready to set your Raspberry Pi mining for Bitcoin.
Setting Up the Raspberry Pi.
Start with a fresh Raspbian install, if you don't know who to do this, read the tutorial How to Install NOOBS on a Raspberry Pi With a Mac .
If you plan on running more than one Bitcoin miner at the same time, it is best to use a powered USB hub. Take into account the power rating as mining will need a lot of power, as much as one mp per miner.
With your USB miner attached to your Raspberry Pi, let's get everything installed.
Installing Required libraries.
The miner to be installed comes as source files, which means that the program must be compiled into a binary before it can be run. To make a program, in this case BFGMiner, many dependencies are required.
Dependencies are additional software, or libraries the program needs in order to compile properly, as it has been developed using them to make the software more efficient.
Hopefully you will be seeing the Raspbian desktop, so double click on LXTerminal and type in the following:
This process will take a few minutes to complete.
Installing BFGMiner.
Once all the dependencies have been installed, now it is time to download and install BFGMiner, so type the following into LXTerminal. It's normal for these to take a few minutes to complete so some patience is needed.
You will be greeted with a screen that looks similar to the following:
Start Mining Bitcoin.
Now you're ready to start mining. To do this, providing you're using Slush's pool, you'll use the following command:
The username section is composed of two parts, the username that you use to login to the pool, and worker which is the worker name you gave when you registered the worker. Finally, the password that was set when you created the worker.
If everything works, you will see the main screen that will look similar to this:
That's a lot of numbers, so I'll make some of them a bit clearer.
Current mining speed , typically calculated in megahashes or gigahashes. The number of hashes a second that can be calculated the better. A hash is an algorithm of converting numbers and letters into an undecryptable set of characters. So a miner is used to process millions of numbers in an effort to match the hash to guess the original number. The more hashes that can be processed the faster it is able to solve the problem. Number of accepted shares . A share on a pool is to show the miner has successfully worked out a given problem, so the more shares you can process the better your reward from the pool. Detailed information on accepted shares and pool updates . This is a running log of what is currently happening with the miners and basic pool information, such as messages of updates and when new blocks are found.
More information can be found at the BFGminer github site.
Following these steps will leave you with a very energy efficient bitcoin miner, as a Raspberry Pi only uses four watts of power, and a miner is typically 2.5W. Mining used to be done with computers consuming over 700W for the same process so to make a jump in savings helps repay the cost of the hardware we are using.
All there is to do now is to sit back and watch the money slowly build up. Though it is important that you understand that Bitcoin value fluctuates wildly, it is extremely volatile, so invest at your own risk.
For more information there are a number of websites and forums available, such as https://bitcointalk.org/,to help get you started.
And if you're interested in getting more involved with developing for Bitcoin, check out the range of Bitcoin scripts and apps on Envato Market.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:42 am
Elements of Mining (https://secure.iqmining.com/tiny/e8NNw)-Definitions and Stages|13:08
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:42 am

What Do YOU Need to MINE ONE ETHEREUM In 2020?!|14:13
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:43 am
24 Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software - (Reviewed) 2020.
Overview.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be described as the process where transactions between participants are verified and subsequently added to a public ledger which is known as the Bitcoin blockchain. It also means that through this process, new Bitcoins are released.
Any individual who has internet access and the required, suitable hardware can partake in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). The process attributed to mining involves recent transactions which are compiled into blocks and subsequently solving complex algorithms.
The participant, or miner, who solves the puzzle is allowed to place the next block onto the blockchain and claim the rewards. The rewards are what intensifies Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), and they consist of the transaction fees from transactions which are compiled into the block in addition to newly released Bitcoins.
This ensures that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is highly competitive, and it should be noted that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and Bitcoin trading or exchange, are two completely different activities which should not be confused.
Why is Bitcoin so valuable?
Apart from being the first digital cryptocurrency ever created, it was also the first which was recognized as one over which no person, organization, or authority has any control.
Bitcoin can be bought, sold, exchanged, traded, and mined, but there is no person that has any say over what a Bitcoin owner can do with their coins, how it should be spent, or invested.
There is no dictatorship associated with Bitcoin and it is free of oppression and hyperinflation. It also serves as a safe haven for people who live in developing countries where such conditions are prominent. It is also why so many governments have worked to outlaw Bitcoin, to no avail.
Fiat systems are strictly controlled and subsequently manipulated by banks and governments and the value thereof is backed by the word of these participants. It is in areas such as these, amidst numerous others, where Bitcoin has substantial leverage over fiat currencies.
However valuable and popular Bitcoin is and despite it being more widely recognized and accepted, fiat currencies cannot simply fall away or disappear from existence as it is still regarded as the most stable ground on which both exchange and trade are based.
Bitcoin has some leverage over fiat currencies, and it is being accepted more as the move towards a digitized world moves ahead steadily. There will, however, always be some controversy involved with adopting change, however small the move towards it may be.
Why do people mine Bitcoin?
By mining, miners stand a chance to earn cryptocurrency without having to put any capital towards it. It should also be noted that mining is not the only way to earn cryptocurrency, it can also be traded through a broker or bought and sold through an exchange using fiat currency.
Mining is the only way through which Bitcoin can be released into circulation and even without mining, Bitcoin would still exist and be usable but new Bitcoin would not be released.
Bitcoin was the first cryptocurrency which was created and released, and it is, to this day, due to various factors, also the most valuable. One of these reasons is that there is a limited supply of Bitcoin, 21 million to be exact, and there will never be more than this amount.
Apart from being paid for their services, miners also verify previous Bitcoin transactions to ensure that users stay honest and to prevent the chances of double-spending occurring.
Double spending entails the illicit spending of the same money twice and is one of the most prominent problems associated with fiat currencies.
CGMiner is the most popular and extensively free software available for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). It is an open-source ASIC/FPGA software which is used for mining, which is compatible for use on desktops running Windows, Linux, and MacOS X.
It is a command line application which is both fast and efficient and features full monitoring, remote interface capabilities and even the ability to control the computer's fan speed.
The network scheduler is scalable, and it can adjust to any size hash rate without causing any network hold-ups. Another unique feature of this software is that it includes the ability to configure files and the logging and monitoring of API.
There are also a number of proxy methods which can be used for mining purposes. However, the most distinctive feature of CGMiner is the control that it has over mining hardware.
With CGMiner, the user can change a variety of settings in both FPGA and ASIC including voltages, amidst numerous others. A menu is provided where custom management in most settings can be applied including self-detection of new blocks.
There is also a compact database for frail longpoll scenarios. There is a variety of ASIC mining hardware which is compatible with CGMiner including, but not limited to BlackArrow, Minion, Hexfury, and more.
This is a fork of CGMiner which incorporates a variety of advanced and unique features. It differs greatly from its predecessor in that it makes use of newer getblocktemplate as opposed to the former getwork template which was used.
It is a decentralisation change where, initially; blocks were created by the pool whereas they are now created by the miner instead.
BFGMiner does not focus on GPUs as CGMiner tends to but is rather created specifically for use on ASIC hardware. Without a proxy, the getblocktemplate decentralised mining protocol can, in addition, also generate work before existing work is completed.
Written in C, BFGMiner's source code is compatible with desktops running either Windows, Linux or Mac operating systems.
Another feature is that BFGMiner incorporates a watchdog thread which can restart any idle threads that present themselves without potentially causing the machine to crash should these threads fail to respond.
There is summarised as well as individual data statistics which is displayed and includes requests as well as accepts, rejects, efficiency, utility and lastly, hw errors. As long as the hardware support is present, BFGMiner can even monitor the temperature thereof.
Users of BFGMiner have more options where customization of their mining hardware is concerned and includes, but is not limited to overclocking, remote interface capabilities, fan speed control, and more.
BFGMiner also features an array of device drivers for Bitcoin and drivers for scripts.
This open-source GUI Miner acts as a convenient wrapper for both CGMiner and BFGMiner software. One of the challenges associated with the mining of various cryptocurrencies is that they require different command lines such as mining tools, which makes management tedious.
EasyMiner solves this issue as it enables users to mine numerous cryptocurrencies across the board. EasyMiner supports the use of ccminer, cudaminer, and numerous others for mining Bitcoin and in addition, it has a 'Moneymaker' feature which can be used when mining Litecoin.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:43 am
Users of EasyMiner can, alternatively also use the 'Solo' mode on the software to select a mining pool of their choosing and a custom hash algorithm which corresponds with the coin that they intend to mine.
HoneyMiner.
HoneyMiner is mining software which provides anyone with access to a PC the ability to mine digital currencies. HoneyMiner was designed for the purpose of a 'set it and forget it' approach which allows its users to earn Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) income without having to go through the process of contending with technicalities.
While using HoneyMiner, users can mine a variety of cryptocurrencies and cash out in Bitcoin.
To use it, users can download the software onto their computers and let it run. The software runs in the background and makes use of the GPU/CPU output in order to mine a variety of coins. The coins are then subsequently converted into Bitcoin to simplify the process of accessing any profits made.
The power of the user's PC, particularly the graphics card, is what will determine the amount that the user can earn from using the software to mine. Thus, PCs designed for computer gaming have the best potential to make more profits, the same rule applies to PCs that have more than one graphics card installed.
HoneyMiner is currently limited on its compatibility with operating systems and is only available for PCs that run on Windows. Although, support for MacOS and Linux is in planning.
AwesomeMiner.
With this mining software, users can manage multiple mining rigs of different types such as FPGAs and ASICs, amidst numerous others. The software is intuitive and features a variety of centralised management features.
One of its main management features is that it supports an excess of 25 mining engines including BFGMiner, CGMiner, and more. AwesomeMiner, in addition, also supports a variety of mining algorithms and it makes use of both real-time multi-pool statistics as well as digital currency statistics.
By making use of these, AwesomeMiner can achieve high profits by effortlessly switching between algorithms, multiple pools, and different mining software.
The dashboard featured on AwesomeMiner allows for the monitoring of the status and temperature of all FPGA and ASIC devices from one location. There is also a powerful C# script engine which can be used when designing customized triggers as well as actions.
The HTTP API can also be accessed by users to allow for interaction with the mining software from any external applications to allow for the retrieval of any mining progress information that may be useful to the user.
This beginner friendly mining software is compatible with Windows, Mac, and Linux operating systems and which is based on BFGMiner featuring a graphical and powerful, yet simple solution to the user's Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) needs.
Once MultiMiner has been installed, the tools automatically detect any mining hardware which has been installed and subsequently creates a table containing all required and relevant information.
Users are provided with the ability to choose the coins they wish to mine as per the connected mining device. MultiMiner also comes jam-packed with additional features including the option to choose a mining strategy, remote access to the mining rig, and tooltips which help the user familiarize themselves with complicated mining terms.
MultiMiner is appealing for newcomers and it also allows for more advanced options for power users including direct access to API settings and even engine arguments.
BitMine Farm.
BitMine Farm is a mining pool which is hardware-based and helps users check mining status with ease. It can also be used to maximize profit in addition to minimizing downtime.
Features of this software include:
An easy setup Enables users to make digital money without much hassle Mining enabled through both GPU and CPU Provides a clean GUI.
Antminer S17 Pro.
Antminer S17 Pro is a piece of hardware which has proven to be quite profitable, considering current conditions, as it yields a positive ROI when Bitcoin is mined.
However, there are more and more companies that are emerging in the mining hardware market and as it becomes easier and cheaper to find mining software, it becomes more difficult to find some, such as S17 at an affordable price.
The S17 miners run on a second generation BM1397 chip which is a massive leap in hashrate and is a result of great technological advances which were made by the development team of the provider, Bitmain.
Hostero.
Hostero is a mining tool which is used in cryptocurrency mining and includes an array of products which can help in the deployment, management and monitoring of miners as well as nodes.
Users of Hostero are provided with an environment in which they can securely mine coins and there is the provision of a single dashboard which features all miners and users in addition to charts and statistics.
When employing nodes, prerequisites associated with knowledge is no longer required and users can check their status easily in addition to deleting and even re-deploying them with the greatest of ease.
Hostero is a PoS miner and therefore users can even view the different logs of miners. Through the use of dedicated monitoring and alerts, users can access both real-time and historical charts, aggregated metrics, and numerous other features from a centralized platform.
MacMiner.
MacMiner is mining software which can be used on MacOS and is the first mining software which is native to the Mac system as it was designed and tailored perfectly for such devices.
The software is straightforward to understand and use and the app allows the user to run the backend in the terminal. Designed for the purpose of mining Bitcoin, MacMiner can also mine Litecoin just as easily.
It features a user-friendly interface to help users handle it more easily rather than having to deal with a complicated number of various command lines.
NeoNeonMiner.
NeoNeonMiner is mining software which is utilized on Android devices which requires that the user joins a mining pool as the software does not support solo mining. Apart from this drawback, it is still a great choice as far as smartphone mining is concerned.
The software, however, provides the ability for the user to choose between different mining pools and is a great way for Bitcoin and other cryptocurrencies such as Litecoin, Vertcoin, and others, to be mined while on the go.
There are, however, other drawbacks to using this apps which includes the inclusion of banner adds which pop up while it is being used. Some users may not be deterred by this whereas others may start finding it annoying.
The interface is not the best, but the software is free to use, supports a variety of coins and pools, and it has a few useful features such as:
Offering a detailed crypto mining log Autoconfiguration script, and more.
AA Miner.
For those who wish to mine Bitcoin but would prefer an app or software which does not entail a complicated interface, functions, and other features which may not make sense, especially to beginner miners, the AA Miner for Android is the perfect app.
When using AA Miner, the user has access to mine more than 50 different currencies and allows the user to join, and efficiently switch between, different mining pools.
Computta.
Computta is software used for the purpose of mining Bitcoin by using computing resources. This process is also referred to as shard mining and it involves the downloading of the software, installation, and then running it on the user's computer.
The miner runs in the background and uses computer resources to automatically mine cryptocurrency without intervention or assistance from the miner.
Before signing up for this, there are a few things that users need to note. Apart from the system requirements, users must be in possession of a Bitcoin Wallet address in order for payments to be received.
Computta is designed only for use on Windows (64-Bit) and requires disk space of a minimum 205Mb.
MinerGate.
MinerGate is mining software which can be run on almost any machine and allows for the mining of cryptocurrencies such as Bitcoin, Ethereum, Monero, and more.
It provides the user with access to an open mining pool where numerous other people make use of their computers to add more hashing power to that of thousands of other miners.
MinerGate provides users with a solution which is 'download and run' which provides users who cannot afford powerful machines to run more complex mining software. However, to earn great profits, users need to possess more powerful machines.
Average computers will earn some small profits but to really cash in, more powerful machines and subsequent software is necessary.
MinerGate may seem simple, but it runs complex algorithms in the background. With just a few clicks, it exploits the maximum capability of the hardware that is in use, depending on how much the user wants to dedicate to the overall process.
Depending on the amount of hashing committed by the user, they will be rewarded by the MinerGate team.
Another drawback to using mining software on a computer with little power to dedicate towards mining is that the electricity bill associated with mining may be higher than the profits that the user makes.
Kryptex is an application which helps the user mine cryptocurrencies in addition to allowing for payment in either US Dollar or Bitcoin. The software runs in the background even if the PC is idle and has the following features:
Setup of the software is fairly easy It provides for a clean GUI It automatically starts as the PC is turned on Mining can be done with both the CPU and GPU The software supports English, Spanish, Portuguese, and other languages.
Kryptex is available for use on PCs that run on Windows OS and is user-friendly and easy to navigate. Although the crypto pay-out on it is rather low, the software has a lite mode function which allows for use of the software while using a lower percentage of computer power although this can only be used on CPU, not GPU.
Slushpool is cryptocurrency mining software used for the mining of BTC and ZEC. Features of this software include:
The ability to mine from a mobile phone Provision of feedback 24/7 Assistance in minimizing losses as result of hardware failure and/or connectivity issues The provision of a VIP solution where large-scale mining operation is concerned.
Established in 2010, Slushpool is known for first pioneering crypto mining pools and has, thus far mined more than 1.25 million Bitcoin. It uses an advanced monitoring system in order to both observe and supervise miners, optimise losses, and improve the efficiencies of miners.
Through the mobile app, users can observe the mining process, receive real-time notifications depending on the preference of the user, and more. New users can create a demo account to explore the platform before committing.
Slushpool offers support in five different languages and there is adequate provision made for a news section.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:44 am

This New Ethereum Miner EARNS $200 DAILY?!|13:55
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 07:46 am
HiveOS.
HiveOS was developed by Bitmart and it is a detailed system which allows for better control over both graphics cards and mining rigs in an efficient manner.
Users can easily set their mining rigs up and with HiveOS, users can copy and paste settings which saves substantially on both time and effort. With this software users can set up multiple pools, dual mining, and manage a variety of grids from one system.
Cards are displayed individually on the Hive and from here, users can choose which cards can be dedicated to mining and what they should mine. In addition, users can also view the hash rate of each card.
Cudo Miner is mining software which uses multiple algorithms and is a feature-rich CPU and GPU miner. Users are provided with a simple setup in addition to a highly profitable way through which cryptocurrency mining can be done.
Cudo Miner is free to download and install and it uses the user's computer hardware as well as resources to yield cryptocurrency. Cudo is one of the platforms being used most by miners and which is also easy to navigate.
Features of Cudo Miner include:
The ability to use auto-coin switching which maximizes the chances of profit It offers setting and controls so that GPU speed and performance can be adjusted to allow for optimization CPU, GPU and ASIC mining are supported There is an advanced hashing algorithm provided which allows for the customization of mining Security is ensured by multi-factor authentication, and more.
Hashing24 is a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) company which has been in operation since 2012 and claims to be involved with the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) cloud. It allows for users to set a custom plan in renting the exact amount of hash power as per the user's preferences.
This provides users with the freedom to mine cryptocurrency without having to physically buy or own the hardware required. Through Hashing24, users have access to real-world data centers.
Some of the features and benefits of using Hashing24 include:
The mining of cryptocurrencies without any hassle Hashing24's data centres are located in various countries including Norway, Canada, Georgia, and Iceland. Hashing24 makes use of the newest ASIC chips. It offers an intuitive interface and makes use of some of the latest air and cooling technology.
Mining Pool Hub.
MiningPoolHub offers multi-pool mining and has an auto-trading system which allows for the choice to mine numerous cryptocurrencies, including Bitcoin, Ethereum, and more. The coins which have been mined can then be converted into BTC before the withdrawal is completed.
To make use of this provider, users must register an account with the pool on the website before proceeding. Once an account has been registered, the user can select their type of mining along with the port of the server for mining.
In addition to being able to mine different coins, users can use either the CPU or the GPU and users have access to profit switching for ASIC and GPU in addition to having access to an interface which is user-friendly.
MinePeon is mining software with great focus on stability as well as performance through its lean purpose build mining tool. The goal that the user needs to keep in mind is that they need to configure the software and leave it to do its work.
Some of the features attributable to MinePeon is:
That it is Lean which means that should there be anything which is not directly associated with mining, it will not be included. It is designed as an OS which is embedded and greatly focused on providing stability. All of the packages which are included have been thoroughly tested and available in the latest, most stable versions. The software is fast and will not detect a CPU cycle which will take away from mining. The software is up to date and contains the latest packages as well as practices. It is user-friendly and can be used by beginners.
BitMiner is mining software, which is easy to set up, uncomplicates Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and provides users with the chance to make high earnings.
BitMiner is compatible with all platforms including Windows, MacOS, and Linux. BitMiner makes use of its own mining pool to mine Bitcoin which means that the user only has to sign up for the pool, install the software, and mining can commence.
The software is free to download and use, although there is a 1% commission involved with the mining pool in order to form a part of it.
RPC Miner is a remote pool miner for the mining of Bitcoin, and which has four client binaries which are administered:
The software can be used for the mining of Bitcoin and numerous other cryptocurrencies by generating and configuring the relevant automated methods as well as variety of situations in the dedicated tool.
RPC Miner can be used by devices which run Mac OS 10.6 and higher. RPC Miner makes use of peer-to-peer technology to run without the use of central control.
BTCMiner is free and open-source mining software which includes an advanced feature associated with dynamic frequency scaling during which the software automatically depicts the frequency which has the highest amount of valid hashes.
BTCMiner also features Bitstream, which is ready-to-use as it does not require Xilinx software or any other associated license for mining to be done.
Final Thoughts - Advantages and disadvantages of Bitcoin.
Advantages.
Bitcoin is widely accepted by major organizations as well as a variety of companies. It is popular, recognized and easily convertible. Bitcoin has a high rate of liquidity due to its popularity and value. It offers easier transactions which are smoother than that of traditional fiat currency transfers. It offers anonymity. It is not regulated by central banks or any government.
Disadvantages.
Due to Bitcoin being the most popular cryptocurrency, the rate of liquidity is high and due to the demand on Bitcoin, the value thereof is susceptible to increases and decreases over a span of time which leads to high volatility. There are still concerns pertaining to security breaches and the lack of regulation is also concerning for some. Technical flaws associated with technology which could negatively impact a user or a heavy investor. Environmental impact due to the substantial amount of electricity that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) involves.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:05 am

2021 GPU MINING RIG CRYPTO - ETHEREUM BITCOIN MALAYSIA|9:21
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:16 am
6 Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software for Windows 10 12 min read.
The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software market is full of original offers with their benefits, features, capabilities, and drawbacks. Downloading and trying each solution is definitely a time-consuming and irrational task. That's why we have prepared for you a complete comparison of the popular cryptocurrency mining tools. Learn which one is the best in your case. In recent years, the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) trend is continuously decreasing. According to Google Trends , people haven't been that interested in this topic as they were in December 2019. Since the time of the most popular cryptocurrency reaching its top price of about $20,00 and then starting damping, society no longer has that enthusiasm about virtual money as before. However, many of us still hope to generate passive income in the long run.
At the time of rising buzz around Bitcoin , you could have a computer with a mediocre processor and graphics processing unit (GPU) to mine cryptocurrency. With the growing number of miners worldwide, the game rules have dramatically changed. Solo GPU mining works no more. Now you need to have mining farms or at least use special ASIC devices to earn rewards for creating new transactions in Blockchain . Whatever hardware you use, you should download and install suitable software to mine Bitcoins.
Cryptocurrency mining software is a digital tool designed specially for mining virtual money based on the blockchain. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software for Windows 10, Linux, or MacOS conducts mathematical calculations to generate new data blocks in the distributed ledger. For each generated block, miners get a reward equal to 12.5 Bitcoins (BTC).
In other words, miners provide the blockchain platform with their computing power while mining software connects miners to this platform and continuously try to calculate data block hashes using available hardware. This is how Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software works. Along with computing power, the other mining component is software. Its algorithms influence how fast it can calculate a data block hash.
Besides its basic function, mining software may have additional features that can improve the way the system generates new data blocks or simplify the management of this process for a miner. For example, you can use mining software to do the following:
GPU "overclocking" (increasing the GPU mining efficiency); Computing power configuration; Hardware condition monitoring; Hardware component heating control; Enabling/disabling hardware components.
It's highly important to choose the right software for your hardware to mine Bitcoins in an effective way. You should pick a tool by taking into account its specifications and capabilities to make sure it's compatible with your equipment and can use its computing power by 100%.
If you purchase a high-end AMD GPU with the capacity of 80 MH/s and install software that can perform calculations with a peak computing power of 40 MH/s, then your mining efficacy is only 50%.
How to choose mining software.
When choosing mining software, you should consider those solutions designed for mining your target cryptocurrency. Digital tools rely on specific algorithms that vary depending on the type of virtual coin. For example, Bitcoin relies on Blockchain, IOTA uses the Tangle distributed registry, while Monero uses the CryptoNight algorithm.
Then you should pay attention to which operating systems considered solutions support. Some tools may focus solely on Ubuntu while other ones support multiple platforms. Furthermore, there are cross-platform solutions compatible with different operating systems at the same time. So if you use the platform from Microsoft, you should use a Bitcoin miner for Windows 10 or lower.
Another valuable aspect of choosing mining software is your hardware capacity. You should learn the specifications of available solutions and pick the one suitable for your equipment. If your processor is incapable of delivering the computing power of over 20 MH/s, then it makes no sense to install mining software developed to work with the minimum capacity starting from this value. Otherwise, it can overheat your hardware or even damage it.
You also should take a type of mining you're going to use into consideration. In many cases, a particular solution focuses on a specific mining type. For GPU, central processing unit (CPU), or ASIC mining, you have to use separate tools. There also are solutions designed for multiple mining types, but you still have to separately launch software for each type of mining.
The other important aspect when choosing a Bitcoin miner is functionality. Many solutions offer additional useful features that can help you improve your mining efficiency. These features are:
Various cryptocurrencies support . With some solutions, you can mine different virtual coins thus increasing your income by mining more profitable virtual money. User interface . With a user-friendly graphical interface, you can mine Bitcoins in an easy way without entering any scripts. Advanced configuration . Decide whether you need additional features like heating control, background work, automatic selection of calculation algorithms, etc.
Besides Bitcoin, you may need to have a capability to mine other cryptocurrencies like Etherium typically used for transactions in smart contracts . To avoid the need for installing other software in the future, choose the solution that supports various cryptocurrencies mining. If you're a beginner in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), use a tool that has user interface rather than requires console-based commands. Learn what else you can get in addition to the basic tool functionality to optimize your mining process.
Bitcoin miners for Windows 10.
When you do your homework described in the previous paragraph, you can start creating a list of suitable solutions and highlight their advantages and disadvantages. Fortunately, you can use our own list containing GPU and CPU Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software that supports Windows 10.
Ufasoft Miner.
Ufasoft Miner is a console-based tool with no graphical interface. This makes using this mining software complicated for those unfamiliar with console commands. However, you need no learning complex scripts to work with Ufasoft Miner. Moreover, the installation process is quite easy and typical for most solutions. To install it, you just need to launch the .exe file and follow ordinary steps provided by a common installer. Make sure you have downloaded the right and actual version.
You manage how the system uses the computing power of your hardware. You can limit the working temperature for your hardware. The default value is 28.3 °C You can change the number of involved cores and threads. You can edit the pool address.
Antivirus software can identify Ufasoft Miner files as malware .
GUIminer.
GUIminer is one of the most popular GPU Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software for Windows 10. It also allows users to mine other cryptocurrencies like Litecoin (LTC). The main characteristics of this tool are that it provides a user interface which makes the mining process extremely easy. So even beginners can learn how to use it. In just a few minutes after configuration, you can start generating new data block and get rewards.
Therefore, you have no need for typing scripts in or editing configuration files to set the solution up. However, GUIminer is a great tool for both professional miners and those who only explore the crypto mining theme. It's worth mentioning that this software supports OpenCL solutions. So you can use different GPUs from various vendors like AMD or Nvidia.
The program also has a special version called GUIminer Script. The main difference between original GUIminer and its modification is that the latter allows you to mine cryptocurrency chains. In other words, this modification allows you to mine cheap cryptocurrencies. GUIminer Script also has a graphical interface which makes it as simple and comprehensive as the original version. The tool also offers various modes like CUDA mining.
GUIminer has already been configured by default to support popular pools. Therefore, you have no need for manually configuring the connection GUIminer provides useful data on the dashboard. This data includes: hash rate; the number of invalid/accepted shares; the total number of share per hour. You can monitor your account balance in real-time. With GUIminer, you can launch multiple cryptocurrency miners at the same time The tool can function in the background and display important notifications.
According to Github , the project hasn't been updated since 2014. There's no information about ASIC mining support either on Github or BitcoinTalk. That's why you need to have a mining farm with numerous GPUs to efficiently mine Bitcoins with GUIminer in 2019.
NiceHash Miner.
NiceHash is a service for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware renting. In fact, it's an auction. By connecting their farm or ASIC devices to the platform, users can lease their equipment. However, the initial price is unknown since buyers have to make bids once this hardware becomes available. On the other side, miners participate the auction. Users with the highest bids get access to equipment and then can start mining Bitcoins. As a miner, you can choose a pool and another cryptocurrency besides Bitcoin.
The solution supports both AMD and Nvidia GPUs. It's a good choice for beginners since configuration happens automatically. Furthermore, you have no need for choosing the most efficient algorithm because the system does it on its own. To determine this algorithm, the tool relies on other miners' experience. In addition, you always can change automatic settings in case you know what you're doing.
The hardware buying process is quite simple. All you need to do is register and replenish your account with the necessary amount. Regardless of the fact that you can mine various cryptocurrencies, you have to pay in Bitcoins as well as user receive rewards in the same coin. Due to the simple configuration, it's a great choice for those unfamiliar with console-based mining software for Windows 10.
You can connect to a wide range of mining devices. The service requires no prepayments and you can pay for hardware using your mining rewards. NiceHash Miners automatically selects the most efficient mining algorithm. The solution supports all popular mining algorithms as well as both CPU and GPU mining types. NiceHash also is ASIC mining software.
You can get a negative account balance because of your improper calculations. You can only receive payments in Bitcoin even if you mine another cryptocurrency In 2017, cybercriminals hacked the NiceHash platform. As a result, users lost around $60 million in Bitcoins (4,000 BTC).
CGMiner is a console-based Bitcoin miner. It's rather suitable for experienced users who are familiar with writing scripts. However, the tool has a wide community that can help you with technical issues and configuration. This solution is one of the most efficient mining software for Windows 10 64 bit and 32 bit. It allows users to mine the cryptocurrency with a high hashrate using their GPUs.
One of the most important benefits of CGMiner is its GPU overclocking feature. Using this feature, you can improve your mining efficiency. The tool also uses a special protocol called NeoScrypt which can increase the overall profit as well. It also provides numerous configuration options, However, it can be difficult for newbies to sort these settings out.
The initial software setup process is simple enough. It usually takes from 10 to 15 minutes to configure CGMiner The GPU overclocking feature The embedded notification system. The solution will notify you in case of any critical errors like hardware overheating or system crashes.
No graphical user interface Unsuitable for beginners.
DiabloMiner.
Like CGMiner, DiabloMiner also is a console-based Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) tool. It's best suitable for experienced users since it has no user interface and requires manual entering commands. It's free to use but you need to have a deep knowledge of MS-DOS. Besides Windows 10, it also supports Linux and MacOS operating systems.
The main benefit of DiabloMiner is that it allows miners to use both CPU and GPU cryptocurrency mining. It supports AMD graphics processing units starting from version 79 and Nvidia GPUs (version 8 or higher).
DiabloMiner supports Windows, MacOS, and Linux. With this tool, you can use GPUs from various vendors like Nvidia and AMD. GPU and CPU mining support; Manual pool configuration.
No graphical user interface.
Like NiceHash, Awesome Miner is also a paid mining tool that has a user-friendly interface. However, it charges a fixed $30 fee if you work with more than 2 farms simultaneously.
For $85, you can manage up to 10 farms at the same time and count on technical support within half of a year. In addition, you can manage this tool via SSN, SMS, cloud services, or even remotely using a special user interface.
The most expensive Ultimate package allows users to manage up to 300 farms and provides ongoing technical support for $800. One of the main benefits of Awesome Miner is its simplicity. Even absolute beginners will easily understand how to use it.
CPU and GPU mining support Automatic market analysis Bitcoin price monitoring Instant error notifications Earnings analysis Manual configuration as an option.
Suitable only for professional miners High cost When it comes to operating systems, Awesome Miner supports only Windows.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:16 am

Inside The Cryptocurrency Revolution|13:54
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:37 am
Summing up.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software comparison Feature/Software NiceHash Miner GUI Miner Ufasoft Miner CGMiner Diablo Miner Awesome Miner Price CPU mining ✔ ✔ GPU mining ✔ ✔ ✔ ✔ ✔ Console-based ✔ ✔ ✔ ✔ User interface ✔ ✔ ✔ Automatic hardware detection ✔ Automatic operation ✔ Manual activation/pool switching ✔ ✔ ✔ ✔ ✔
Which is the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software for Windows 10? This is the question it's hard to answer without any background. Despite they all have the same basic destination, each of them is best suitable in particular cases.
If you're new to cryptocurrency mining and prefer to avoid time-consuming learning technology aspects or configuration niceties, then use GUIminer. It's free and easy-to-use due to its intuitive user-interface. If you want to mine coins but have no your own high-end hardware, then create a crypto wallet and sign up for NiceHash. With this tool, you can rent suitable equipment and start generating data block in the distributed network called Blockchain.
If you're an experienced miner and plan to manage large mining farms, then Awesome Miner is exactly what you need. With this tool, you will get a detailed dashboard with mining progress data. Under similar conditions, you may also consider Diablo Miner in the case where you don't want to pay for software. However, you should be read for manual entering console commands since this solution doesn't have a user interface either, like NiceHash.
If you're familiar with scripts and unafraid of console-based mining tools, you also may consider Ufasoft Miner. It provides a wide control over mining process configuration. So you can manually manage your progress. In the case where you want to use your hardware at its maximum and ensure as high Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) efficiency as possible while having no desire to pay for software, then go for CGMiner.
Best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software 2020.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is considered as an important process in the Bitcoin network. It is carried out by specialized computers, and miners are responsible for security. The mining process confirms Bitcoin transactions. The role of a good miner is to secure the network, and they need to process every BTC transaction. Miners achieve this by solving a computational or mathematical problem. For offering this service, miners are remunerated with new Bitcoins mined and with transaction fees.
What is a Bitcoin Miner?
A Bitcoin miner manages the actual process of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Once a user is well equipped with a Bitcoin address, Bitcoin wallet , and the required mining hardware, all they need to do is to opt for a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software.
Whether the user is joining a mining pool or mining solo, they need to get themselves familiar with the latest mining software. Few latest software options are GPU/ASIC/FPGA, and the supported platforms are Windows, Linux and Mac.
Cryptocurrency mining can be executed through different hardware like CPUs (central processing units), ASICs (application-specific integrated circuits), or GPUs (graphical processing units). These hardware can make a particular number of guesses, which is known as the hash rate . ASICs provide the highest hash rate while CPUs provide the lowest hash rate.
Which is the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software?
Some of the best software for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) are given below -
CGMiner MultiMiner BFGMiner BitMinter Miner-Server EasyMiner Awesome Miner BTCMiner DiabloMiner Bitcoin Miner.
One of the important jobs of the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is to deliver the mining hardware work to the Bitcoin network and to receive other miner's completed work on the network. Further, the software oversees the progress of the miner, and also it displays the statistics like the speed of the miner, fan speed, hash rate, and the temperature.
Below given are our review about best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software -
CGMiner is one of the leading, most popular and commonly used Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software. It is the best mining software for Windows . Presently, it is based upon the original code of the CPU miner. This mining software has several special features; some of the important ones include fan speed control, GPU mining support, and multi GPU support, and many more. This software can scale a hash rate of any size, almost instantly.
CGMiner is written in C, and it has been in the market for more than 6 years. Also, it is compatible with all operating systems; this software works through a simple command-line interface, and supports several mining pools and mining devices. It was initially designed to be used along with hardware devices, yet it can be used with any GPUs , and can be connected to the machine too. This can configure their system to make an exception for CGMiner or they can use the Linux version.
self-detecting new blocks by using mini database fan speed control remote interface capabilities Highly customizable Cross-platform multi GPU support CPU mining support.
MultiMiner can be described as a desktop application for cryptocurrency mining and can be used on Windows Mac OS X, and Linux. It simplifies swapping individual devices like GPUs, FPGAs, ASICs, among cryptocurrencies like Bitcoin and Litecoin. One of the advantages of this mining software is its intuitive graphical interface. It uses mining strategies and can easily manage several devices. MultiMiner is cross-platform, yet the coin miner needs to install additional software, to get the mining software working on Linux and Mac OS.
MultiMiner is a crypto mining software which has a unique mode of operation. It is a desktop application that is used to mine and monitor popular kinds of PCs such as Windows Mac OS X and Linux . MultiMiner is an easy to use Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software and offers several features for its users. Also, it lets the user switch minings devices like FPGAs, ASICs among different cryptocurrencies like Bitcoin, and Litecoin without effort.
MultiMiner is a desktop application for cryptocurrency mining on Windows Mac OS X and Linux. MultiMiner is a Linux Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Software. MultiMiner uses the fundamental mining engine like BFGMiner; to detect devices that are available, and it presents a user interface for choosing the coins which the user likes to mine. MultiMiner also supports advanced features like relaunching crashed miners, minimizing the notification area, and mining on startup. Remote monitoring Automatically detects network devices MultiMiner rigs control the network for PCs and mobile devices.
BFGMiner is based on CGMiner, yet it is designed specially for ASIC mining hardware . It is the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software for Windows. Moreover, it monitors the temperature of most of the devices, and it can connect to several mining pools. Apart from offering a simple text interface, and several features, it is available for Windows and all major Linux platforms. BFGMiner could be installed on Raspberry Pi as a part of the free Minera operating system . One of the major drawbacks of BFGMiner is that it does not work well with GPUs.
Suitable for FPGA devices Available for Linux and Windows Several varieties of device drivers for Bitcoin CPU and OpenCL/GPU mining Integrated overclocking and fan control which includes automatic adjustment, if configured free C code for Linux and Windows with CPU usage being very low.
In 2011, the BitMinter mining pool was launched. BitMinter has a clear graphical interface and works well with external ASIC devices and GPUs. Further, BitMinter helps to ease the process of cryptocurrency mining. It was started as an idea to offer a user-friendly graphical user interface (GUI) for miners to collaborate with the Bitcoin blockchain.
1% Mining fee works only with BitMinter pool Preinstalled pool settings, Cross-platform (Java) Servers located in the US and Europe Supports ASIC Boost makes full use of the latest mining hardware Backs Merged Mining.
Miner-Server.
If the user is not ready to invest in a highly expensive ASIC (Application Specific Integrated Circuit), they can go ahead for cloud-based mining services. Moreover, if a user refers an Miner-Server to other users, and they sign up through their reference, they get a bonus hash power. Besides, they do not charge any additional maintenance fees, so the users get the full share of profits. To get started with Miner-Server, the users should join a mining pool that has other users, so that the payouts can be divided between the users. Also, the service provides several packages for one year. The user can check their earnings and other details anytime by logging into their account.
Does not charge additional maintenance fees Offers cloud-based mining service.
DiabloMiner is a Graphics Processing Unit (GPU) software that uses an open CL framework; it can support unlimited pools, and can switch to another pool if there is a connectivity failure, and it returns to the first one every hour. DiabloMiner supports solo and pool minings.
DiabloMiner uses the OpenCL framework to conduct hashing computations, and it supports unlimited mining pools for its users. DiabloMiner software is compatible with GPU mining hardware, and it runs on Mac, but if the user has any of the present Nvidia drivers or ATI Stream SDK 2.1, it will run on any operating system.
EasyMiner is a graphical frontend for mining programs of CPUMiner and CGMiner. It is the best Bitcoin software to mine for Windows. In the first stage, EasyMiner enters into the "Money Maker" mode and allows the user to automatically create a paper Litecoin wallet, and they can start to mine immediately with a private pool. Further, EasyMiner is a free, fastest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software; which is an open-source which permits the user to earn Bitcoin, Litecoin , or any other crypto coins by using the computer GPU or CPU. It also includes a console that informs the user of the progress of CGMiner and CPUMiner, which by default, can be used for mining Bitcoin and Litecoins. One of the major drawbacks of EasyMiner is it causes issues with antivirus apps.
Easy to use Interface simultaneously mines using CPU and ASIC/GPU.
BTCMiner can be described as an open-source Bitcoins miner for ZTEX USB-FPGA modules 1.5. It is a cloud-based mining software having several thousands of users. Anybody with a Bitcoin wallet and address, internet connection, and FPGA mining hardware can mine cryptocurrency on this software. The unique feature of BTCMiner is its dynamic frequency scaling.
BTCMiner offers great features like overheating protection, power save mode, and ready to use Bitstream, which allows users to run the mining software without a license or Xilinx software. BTCMiner comes with supported FPGA boards that contain a USB interface that is used for programming and communication.
Awesome miner is the best for centralized mining management. It works efficiently if the user has one mining rig to work with. If the user wants to manage several rigs, like ASICs, FPGAs, they need something more supportive, which is offered by Awesome Miner . Awesome miner has powerful centralized mining management features; it supports over 25 mining engines, and it is compatible with all leading mining algorithms like Scrypt, SHA-256, Ethereum, X11, and Zcash. It has a built-in C script engine, that can be used to create customized actions and triggers.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:37 am

Ethereum (ETH) Staking or Mining (https://secure.iqmining.com/tiny/e8NNw) - Which is More Profitable? (SURPRISING RESULTS)|18:44
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:37 am
Awesome Miner offers desktop notifications, coin statistics, email notifications, and several monitoring features that help in detecting non-working devices, miners, or devices with high temperatures. It comes with a powerful built-in C# script engine to create customized actions and triggers. Moreover, it offers an easy to use API that is accessible to enable control and monitoring of all the miners. Awesome Miner mainly works on Windows, yet it also offers a web front-end, which can be accessed from any tablet, smartphone, or computer. Further, the web interface offers detailed information about the miners, and offers access to all minings operations.
MultiMiner is a crypto mining software which has a unique mode of operation. It is a desktop application that is used to mine and monitor popular kinds of PCs such as Windows Mac OS X and Linux. MultiMiner is an easy to use Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software and offers several features for its users. Also, it lets the user switch minings devices like FPGAs, ASICs among different cryptocurrencies like Bitcoin, and Litecoin without effort.
Remote monitoring Automatically detects network devices MultiMiner rigs control the network for PCs and mobile devices.
Do you have a question like what are bitcoin miners? Specifically, Bitcoin Miner is designed to solve problems as per the proof-of-work algorithm. It is available on Windows 8.1 and Windows 10. The software interface is very user friendly, and it supports pool minings. There is a power saving mode and it is faster. The latest version of the software is 1.27.0. It has highly specialized chips called ASICs that are being used.
Remote cloud mining Profitability Reports Fast share submission Easy to use interface Night mode and Power saving mode Mining pool support.
Wrap Up.
As of today, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) has turned out to be a more profitable business; several people pay their bills by operating Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farms. Moreover, they require a lot of electricity to operate and access to cheap electricity becomes mandatory. Those who are willing to make money through BTC mining need to compete with large organizations who are having virtually unlimited resources to be spend on mining farms; additionally, hundreds of individual miners need to join them by forming mining pools. Hence, choosing a profitable Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software is mandatory for a lucrative venture.
1. Can I mine Bitcoin on my PC?
Ans. To start mining Bitcoins, the user needs to have a Bitcoin wallet, its address, and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. In the early stages of Bitcoin, mining was possible with a computer CPU; or with a high-speed video processor card, which is not possible at the present. Moreover, mining with any hardware will consume more electricity and the expense is huge. It is important to choose the best hardware before proceeding with mining for BTC.
2. How long does it take to mine 1 Bitcoin?
Ans. Presently, 1 Bitcoin is mined every 10 minutes, and the speed to mine depends on the equipment that is being used. If the user uses the home computer to mine BTC, it will take several years to get close to creating a block; even then they might be beaten by a strong and powerful ASIC chip equipment. Further, the power consumption over a long period will be more expensive, when compared to the revenue that had been generated.
3. Can you mine Bitcoin on the phone?
Ans. Simply, Android phones are not powerful to match the hardware used by the miners, and it takes a lot of time; also it is very difficult to make money, which may lead to wastage of Android phones battery. In 2019, there were applications that permitted Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on mobile phones. However, if a miner of Bitcoin directly mines on the Bitcoin network with an android phone, it will produce results that will not be profitable.
4. Is it worth mining Bitcoins?
Ans. Currently, those who have specialized machinery with high processing power, can profitably acquire Bitcoins. Moreover, mining is technically impossible for everyone. For those with underpowered setups, will find a lot of money being spent on electricity, than to mine Bitcoin. In simple words, mining will not be profitable on a small scale, unless the user has access to free or cheap electricity.
5. How do I mine Bitcoin for free?
Ans. Free mining can be possible, but it cannot be a replacement for the paid ones. If the user needs to mine a few Bitcoins, they should have high computational units specially designed to mine Bitcoins . They can either purchase a miner from Bitmain or they can invest in a cloud mining scheme. Either way, they need to spend their money to earn Bitcoins.
6. Is mining Bitcoin profitable?
Ans. Mining cryptocurrency is a huge process, the user needs to set up a computer and they need to solve complex mathematical problems. They are rewarded with a coin or a part of a coin. The first miners of Bitcoin were able to earn points very quickly by just using the computing power they had at their homes. By 2019, cryptocurrency mining had become more complicated. With Bitcoin, the reward is halved every 4 years; several serious miners have developed large arrays to mine by making it harder for the small miners to compete with them.
7. How can I mine Bitcoin fast?
Ans. In 2011, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is very difficult and a personal computer was allowed to mine 1 Bitcoin per day. Today, users can use specially designed ASIC minings chips for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
8. Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) legal?
Ans. Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is legal in several countries, yet few countries have declared Bitcoin as illegal; which is why this is prohibited. Moreover, this might be considered as a subjective matter, which varies from one country to another.
9. How do I start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) for Beginners?
Ans. For beginners, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) can be described as an energy-intensive process. Unlike governments, Bitcoin supply is already fixed, and it is regulated by the laws of mathematics, which are practically impossible to break.
10. How do I join Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw)?
Ans. Currently, anyone entering the world of cryptocurrency mining needs to compete with big organizations and their mining farms. Moreover, the first decision that every miner should decide is whether they need to go solo or join a pool of miners. The pooled mining is a mining approach where several users contribute their computing power to the creation of the block. Joining a mining pool will create a steady income, even though each payment will be meager, when compared to an entire block reward.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:38 am

How to Mine Ethereum on Windows 10 - 2020|10:41
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:38 am

Comment miner de l Ether (Ethereum) en 2021 ?|18:35
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:39 am
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How to Start a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business.
Mining Bitcoin and other cryptocurrencies is the Wild West of technology and finance. The field is still evolving and largely unregulated, and the work comes with risk. As with any frontier, however, there's significant profit potential for those who succeed.
Although cryptocurrency mining involves the latest in computational and financial advancements, starting a mining business requires no technical knowledge. The work is basically a numbers game, and anyone who's willing to invest in the resources needed to win the game might profit.
Learn how to start your own Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business and whether it is the right fit for you.
9 Steps to Start your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business Who is this Business Right For? Take the Next Step Useful Links.
TRY TRUIC'S FREE BUSINESS TOOLS.
Home Business Ideas Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business.
Start a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business by following these 9 steps:
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
STEP 1: Plan your Business.
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
Luckily we have done a lot of this research for you.
What are the costs involved in opening a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business?
When it first started, Bitcoin could be profitably mined with a home computer. Since 2013, however, mining has become too competitive for computers to provide any real profit. Even the fastest computers aren't quick enough to find the correct hash first.
Today, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) businesses use application-specific integrated circuits (ASICs) that are specifically made for mining Bitcoin or another cryptocurrency. An ASIC setup that can solve Bitcoin calculations on its own costs about $12,000 .
Most people get into the industry for much less by pooling their resources, though. New ASIC miners are available for anywhere from $489 to $3,000 . With one of these, business owners can join a mining pool where members literally pool their resources together. When the pool has a correct hash first, the proceeds are split amongst members.
For even less, business owners can mine through the cloud. In these agreements, business owners lease mining resources from a cloud-based provider and the leased resources are pooled with those leased by other business owners. Bitcoin.com and Genesis Mining both have plans starting under $200.
What are the ongoing expenses for a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business?
The ASICs needed for mining Bitcoin and other cryptocurrencies use a lot of power. One estimate places the amount of power needed to mine Bitcoin at 215 kilowatts per transaction computed. MarketWatch charts how much that costs in each state.
Who is the target market?
A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business serves the Bitcoin cryptocurrency and therefore, the software used must comply with Bitcoin's standards. Other cryptocurrency miners must comply with the standards of the cryptocurrency being mined.
How does a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business make money?
Mining Bitcoin is akin to participating in competitive auditing. Businesses verify Bitcoin transactions by guessing 64-digit hexadecimal numbers, which are referred to as "hashes." The first business to guess a hash that's equal to or less than the target hash is awarded Bitcoin and a transaction fee.
Bitcoin is set up so that the number of BItcoin rewarded halves over time . This occurs roughly every four years, and no more Bitcoin will be awarded once there's a total of 21 million Bitcoin. As the reward for Bitcoin decreases, the amount earned from transaction fees is expected to increase.
(Other cryptocurrencies operate differently.)
How much can you charge customers?
The compensation that Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) businesses receive is determined by the cryptocurrency. At the time of writing, having a correct hash first netted the winning business 12.5 Bitcoins. The current exchange rate was just below $8,000 for 1 Bitcoin, so having a hash would net almost $100,000. Transaction fees in comparison are relatively small.
How much profit can a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business make?
A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business' profitability is directly tied to the value of Bitcoin and cost of electricity. When Bitcoin was trading above $20,000 per Bitcoin, this business was highly profitable. As the value of Bitcoin has diminished, so has profitability.
How can you make your business more profitable?
Bitcoin is just one cryptocurrency that business owners can mine. Additional cryptocurrencies include Ethereum, Zcash, Ripple, Monero and others. Which of these is most profitable to mine depends on many factors, including the value, difficulty to mine and projected forecast for each cryptucurrency.
What will you name your business?
Choosing the right name is important and challenging. If you don't already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business Name Generator.
If you operate a sole proprietorship, you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.
When registering a business name, we recommend researching your business name by checking:
Your state's business records Federal and state trademark records Social media platforms Web domain availability.
It's very important to secure your domain name before someone else does.
Find a Domain Now.
Powered by GoDaddy.com.
After registering a domain name, consider setting up a professional email account (@yourcompany.com). Google's G Suite offers a business email service that comes with other useful tools, including word processing, spreadsheets, and more. Try it for free.
STEP 2: Form a legal entity.
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business is sued.
Read our Guide to Form Your Own LLC.
Have a Professional Service Form your LLC for You.
Two such reliable services:
ZenBusiness ($39 + State Fees) LegalZoom ($79 + State Fees)
You can start an LLC yourself and pay only the minimal state LLC costs or hire a Business Formation Service for a small additional fee.
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own.
STEP 3: Register for taxes.
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
STEP 4: Open a business bank account & credit card.
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.
Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more.
Open a business bank account.
This separates your personal assets from your company's assets, which is necessary for personal asset protection. It also makes accounting and tax filing easier.
Recommended: Read our Best Banks for Small Business review to find the best national bank, credit union, business-loan friendly banks, one with many brick-and-mortar locations, and more.
Get a business credit card.
This helps you separate personal and business expenses by putting your business' expenses all in one place. It also builds your company's credit history, which can be useful to raise money and investment later on.
STEP 5: Set up business accounting.
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
STEP 6: Obtain necessary permits and licenses.
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
State & Local Business Licensing Requirements.
Certain state permits and licenses may be needed to operate a bitcoin business. Learn more about licensing requirements in your state by visiting SBA's reference to state licenses and permits .
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.
For information about local licenses and permits:
Check with your town, city or county clerk's office Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources .
STEP 7: Get Business Insurance.
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company's financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you're unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it's a great place to start for your business.
Another notable insurance policy that many businesses need is Workers' Compensation Insurance. If your business will have employees, it's a good chance that your state will require you to carry Workers' Compensation Coverage.
Recommended: Learn what business insurance for your Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business will cost.
STEP 8: Define your brand.
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners, we'll give you helpful tips and advice for creating the best unique logo for your business.
How to promote & market a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business.
Marketing efforts for a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business should be targeted towards investors. Additional investors can help fund the acquisition of more equipment, which might help a business qualify for reduced electric rates. To attract investors, business owners should have a clear presentation that details what cryptocurrencies are and how profitable the business model is.
How to keep customers coming back.
A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business doesn't need to worry about attracting customers because the business serves the cryptocurrency and not people directly. Any business that complies with the standards can participate in the cryptocurrency.
STEP 9: Establish your Web Presence.
A business website allows customers to learn more about your company and the products or services you offer. You can also use social media to attract new clients or customers.
Start A Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Business In Your State.
Select your state below for an in-depth guide on completing each of these steps in your home state.
Is this Business Right For You?
The first people to mine Bitcoin were mostly technology geeks who were intrigued by the cryptocurrency's innovation. Today, geeks continue to experiment with cryptocurrencies, but they aren't the only people mining Bitcoin and other cryptocurrencies.
Anyone who wants a primary or side business that provides passive income may be interested in running a cryptocurrency mining business. The work involved can be arranged around other obligations, and the budget required can be adjusted as needed.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
What happens during a typical day at a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business?
Running a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business is mostly hands-off work. As long as operations are running smoothly, business owners need to do little more than check their business' Bitcoin holdings and the current exchange rate to see if they want to sell.
The most common computer malfunction is overheating, and business owners do need to respond quickly when this happens. Computers that overheat shut down, and they won't provide any profit until they're cooled down and restarted.
What are some skills and experiences that will help you build a successful Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business?
Mining Bitcoin and other cryptocurrencies requires no specialized knowledge. Nevertheless, business owners should familiarize themselves with the process so they understand what they're doing. Books, such as, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Step by Step , are popular resources on the subject.
Business owners may also want to invest in a USB Bitcoin miner . These usually aren't profitable, but they're helpful when learning the fundamentals of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
It's also important to be familiar with the risks that accompany Bitcoin and other cryptocurrencies. Understanding market volatility is essential when deciding whether to sell mined Bitcoin. Being familiar with the illegal scams and hacks that occur helps business owners avoid becoming victims. John Oliver detailed some of the biggest risks, including scams.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:39 am

Comment miner de l'Ethereum (Ether)|13:14
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:40 am
What is the growth potential for a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) business?
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) operations run the gamut from individuals doing this as a hobby to large corporations that have vast resources. An example of a small-scale setup is Geoffrey Welborn's inexpensive, yet profitable, dorm room operation . A business in Sweden has a much larger operation, maintaining 45,000 computers in a former helicopter hangar.
TRUiC's YouTube Channel.
For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe below to view later.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:40 am
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in 2015: ASICs, Cloud Mining, and Difficulty.
Huge facilities all over the world are now packed with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware. A single facility near the Arctic Circle in Sweden boasts 45,000 machines running around the clock.
Why? Well, if your computer finds the correct answer to a problem in computing a hash algorithm, your bitcoin wallet address is built into the answer with 25 more bitcoin . Also, your bitcoin address collects the transaction fees implicit in that answer. You get these additional bitcoin after 99 further blocks are built onto the system. Today, at $196 per bitcoin, the 25 new bitcoin are worth $4,900. So, there are good reasons to dedicate additional computing power to the task.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Still Growing.
As a result, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is one of the fastest growing sectors in information technology (IT) today. More computers are being added to the task all the time. As the blockchain grows, more bitcoin are added to the ones already in circulation. Over time, the rate at which new bitcoin are added is scheduled to slow down, until Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is performed exclusively for the transaction processing fees when the system maxes out at 21 million total coins in circulation.
Next year, 2016, the award for computing the next bitcoin block drops from 25 to 12.5. Will we see a drop in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) activity? Perhaps. Already, the reduced exchange rate for bitcoins into dollars seems to be provoking some move toward consolidation in the industry. That comes at a time when bitcoin has again set a new record this month in the number of transactions occurring on a single day, over 105 thousand events.
A fairly typical transaction fee of 0.0001 bitcoin is applied to many of these events, implying 10.5 bitcoin, or about $2,058 in possible transaction fee revenue for bitcoin miners. Thus, transaction fees may prove to be attractive to bitcoin miners even after the new bitcoin award begins to drop.
ASICs - Bitcoin Miners That Are Game Changers.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) began in 2009, using the basic Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) software that is included with the original Bitcoin wallet software, with nearly any technically sophisticated user able to set up a computer to solve the mathematical puzzles involved. By early 2013, however, the first application-specific integrated circuits (ASICs), or bitcoin hash chips, began shipping. These chips are Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware that are only useful for mining SHA-256 cryptocurrencies, and make the use of ordinary personal computers, or networks of general-purpose computers, obsolete for Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Although microprocessors in general double their power every 18 months according to Moore's Law, the Bitcoin ASICs have been doubling their power every six months. This has led many to ask," Is Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) worth it ?" The answer is complicated, and Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) continues to be profitable overall, but you should always use a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) calculator to determine if it is right for you. It is estimated that hundreds of thousands of computers are focused on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
Bitcoin Value, and Exchange Rate Risks.
Are bitcoin prices destined to fall further? It is hard to say. Certainly, they have had their ups and downs. Shortly before the Mt. Gox exchange failed , the USD to bitcoin exchange rate had peaked above 1 $1,124. The hacking of Bitstamp earlier this month may be responsible for some of the recent drop in the exchange rate. Of course, prices sailed up from mid-2012 to late 2013 without too many hiccups. The fork of March 2013 was one instance of a dramatic, but short-lived setback, when different versions of the bitcoin software caused a difference of opinion about the validity of certain blocks. Once consensus was re-established, the problem was resolved, and the valuation of Bitcoin continued to climb.
Arguably, security at exchange sites has become an issue in the industry, as security in finance is always of paramount importance, with Bitstamp reporting 19,000 bitcoin missing in the hack. However, exchanger woes don't tell the whole story. Many mainstream businesses, including Time , Microsoft , and Overstock are accepting bitcoin , though only Overstock is known to keep a portion of sales in bitcoin. Most merchants are using payment processing companies, such as Bitpay or Coinbase , that act as currency converters, to exchange bitcoin for USD. Still, acceptability may prove to be key in the advancement of bitcoin, since the more users are able to find places to pay with bitcoin, the more demand they will have for the available supply.
Bitcoin Alternatives - Altcoin Mining.
Of course, Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is not the only cryptocurrency mining taking place these days. Cryptsy , the largest altcoin exchange, lists hundreds of cryptocurrencies, with names like Litecoin , Dogecoin , Reddcoin , Darkcoin , Bitshares , and many more. Any blockchain currency with proof-of-work features may be mined, and miners in alternative cryptocurrencies seem to find the activity profitable.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:41 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:41 am
How much is all this equipment dedicated to Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw), and altcoin mining, worth? Based on a statement from Coinometrics about a 51% attack, there is about $833 million in mining equipment and electricity currently operational in the industry. The combined mining power on the network continues to increase.
The Rise of Bitcoin Cloud Mining.
A large portion of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is now cloud-based . Firms have been selling gigahashes per second, or Gh/s, for a fee, that provides enough computing power to make a billion attempts a second to solve the hash function for a bitcoin block. Genesis Mining , for example, charges $702 for one thousand Gh/s, plus a fee for electricity. If you happen to earn enough bitcoin from the 25 bitcoin created in each block, plus transaction fees, to surpass these fees, then renting the gigahashes was a good choice. Of course, given the enormous amount of computing power in competition with you, you should probably view the investment as speculative rather than as a sure thing.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) is energy intensive, so huge mining operations tend to locate where it is easy to keep machines cool or where energy is very cheap. Cheap coal in Mongolia seems to be stimulating Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) in that country. Unfortunately, not every Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) company has found a way to remain profitable. Recently, Ghash.io , one of the largest mining operations, announced that it would be suspending service until Bitcoin's value increased, or mining difficulty decreased, enough to make Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) profitable for them.
Adjustable Difficulty Based on Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Power.
Every 2016 blocks, or two weeks on average, the bitcoin network automatically adjusts the difficulty of the hash function depending on how much computing power is on the task. Difficulty could be adjusted downward if a great many miners began pulling machines off the net, but for the past couple of years the trend has been upwards. Since ASICs were first shipped the difficulty has increased by a factor of ten thousand. However, this is changing, as the recent drop in bitcoin's price has caused so much mining power to be shut off.
How does Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) stack up as far as transaction processing goes? The bitcoin protocol currently can only process seven transactions a second, because of the 1 megabyte limit on blocksize, which is tiny compared to, say, Visa, which handles up to 10,000 transactions per second. However, of course, the fee for each transaction is significant, especially for merchants who bear the brunt of the credit card processing fees. A recent transfer of tens of millions of dollars worth of bitcoin was recorded on the blockchain for a fee of about two cents.
If bitcoin is going to enter the mainstream, the limit must be raised, or transaction fees must be significantly increased. Fortunately, the 1 megabyte limit can be changed, and the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) network's processing power is far greater than is necessary to handle however many transactions per second is required of it. Gavin Andresen, the Chief Scientist of the Bitcoin Foundation , as well as the primary developer working on bitcoin's core protocol since the departure of the currency's mysterious creator, Satoshi Nakamoto , has been experimenting with larger block sizes. His tests have shown that increasing bitcoin's blocksize can be easily achieved, when that becomes necessary.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:42 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:43 am
Crypto-Mining Space is the ultimate and most powerful cloud mining engine of the market.
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A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work.
About The Crypto-Mining Space.
The Crypto-Mining Space was founded at the end of 2015. The founders of our cryptocurrency company, which today is world-class, became known as users of the same platform for the sale of Bitcoins.
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2015 Was Do or Die for Bitcoin Miners But Promise Lies Ahead.
Dave Carlson.
2015 continued the trend: as the price of bitcoin fell and mining difficulty rose, miners were forced to sell both their bitcoin holdings and newly mined bitcoins to cover operating expenses and fuel growth.
This increased downward pressure on the price of bitcoin, and gives us all a painful reminder of how this network is designed with respect to miners: bitcoin punishes the greedy and the weak.
Just as in 2014, we saw attrition in mining operations (and among manufacturers) - the less favorable economic conditions meant many were unable to survive. The explosion of hashrate coming from China eclipsed operations in other parts of the world, and we quickly found the conditions at which many operations had to 'blink first'.
First-mover (dis)advantage.
Early leaders in the ASIC market found themselves lagging newer players, and in a declining market, struggling to find the funds to maintain their position.
To carry the same market share, industrial-sized operations needed to increase from 3-5MW to 30-50MW.
It becomes readily apparent that block rewards for mining are simply a subsidy designed to return on the investment in network security, not to produce long term revenues. Mining is now a race to see who will hold the biggest marketshare when the network transitions to a fee-based system.
Nobody loves bitcoin.
In 2015, the market decided it didn't like bitcoin anymore and the focus turned to the blockchain, its underlying distributed ledger.
This was silly, of course, because the two go hand in hand.
What the market was really saying was that it was unhappy that the bitcoin price didn't hold up. In retrospect what happened to the price makes total sense: more mining was being done than was necessary to support the transactions being made.
Bitcoin production rates are essentially fixed, but difficulty is not.
So we drove ourselves to the brink in our attempts to grab marketshare, couldn't (or wouldn't) continue growing and waited for prices to rise again.
Mining is a commodity business and its inherent price sensitivity was never more apparent (let this be a lesson to you).
Usher in the blockchain: a distributed ledger system with super cheap transactions and almost costless auditing - recording exchanges of value via a digital token.
Indeed it's very cool tech - but then I just described bitcoin, didn't I?
Block-size debate.
Perhaps the most annoying question we asked ourselves this year was whether to raise the limit on the number of transactions that can be written into data blocks on the bitcoin blockchain.
I was against this can-kicking, central bank-esque meddling from the beginning. I stood before the Satoshi Roundtable in February and proclaimed my intent to just mine for rewards, leaving transactions out of my blocks completely.
This of course "stirred debate", but I think I got my point across. With almost no revenue coming from fees, miners have literally no incentive to mess with transactions.
During the transaction spam "stress testing", we witnessed this same idea as a defensive tactic - full blocks impact pool performance, causing orphans, or valid blocks that aren't included on the main chain, meaning miners who mine them don't get the rewards.
With such low fee revenue, these transactions now become a liability.
Think about what a single missed block costs a pool operator. At $450, we make $11,250 for processing a block. If instead those transactions cost us $11,250 well, you can see the motivation.
Now, speaking of motivation, bitcoin has always been a system whereby miners vote for protocol changes by taking (or not taking) a particular BIP. This provides a consensus mechanism for change to the network only when there is a measurable (read: financial) incentive to a majority of the mining hashpower.
Maybe now it's clear why we don't have consensus on the issue.
So what if we don't take the BIP? The ever-rising daily transaction count will soon fill all the blocks and then we will have competition for transaction clearing. This will raise fees.
The shoe may be on the other foot at that point - startups with poorly conceived business models based on super-low transaction fees may be the next to fail. But it's possible that projects like sidechains or the Lightning Network will provide aggregation solutions.
In a few years, perhaps only the largest aggregators will be able to afford to post transaction data to the main chain.
This all sounds very painful, but it's actually a great and elegant and terrible evolutionary process happening all at once. It has the effect of taking out the garbage, so to speak.
Optimizing expenses.
This old saw again.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:44 am

How To Start Mining (https://secure.iqmining.com/tiny/e8NNw) with NiceHash - Official Guide|6:07
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:45 am
For miners, 2016 requires further optimization of operational expenditures, in addition to the need to transition away from less efficient hardware.
Even with very low power costs, miners need to move to the better gear in order to survive. Once you have very cheap power, where does a miner go?
I intend to spend 2016 pursuing more free power, and developing a 'net-zero' power cost business model. This can be achieved when you operate at megawatt scale and have a large 'controllable power load'.
Where in the world can you run your old hardware that costs more in power than it makes in bitcoin? There are places.
MegaBigPower is rolling out a new offering for this old stuff to get a second life. This follows our continued efforts to find ways to monetize this equipment rather than see it heading to landfills.
Competition at industrial scale.
My first industrial-scale ASIC project achieved 100 terahashes and we began the deployment when the global network itself was 100TH.
So, by the time we got it all running, we had something like 25% of the network. To attempt this same feat again will require some 750 petahashes, or 5.4 million of BitFury's new chip.
Will it happen? Yes, definitely - and more no doubt. As bitcoin prices rise, the system has room for more mining.
But since we are greedy humans, we will overproduce, difficulty will rise, profits will fall, putting pressure on the price and the whole cycle will repeat again...
Don't overlook what has happened, though. Bitcoin and its blockchain have become even more robust and more secure as a result.
Corporate integration.
With this newfound security and robustness, the network has greater value and eventually price will rise as a result of renewed investment and trust.
As the price rises, so does market capitalization and so does the amount of revenue to be had from processing transactions.
Right now, I estimate the 12-month revenue potential, if one could do all the mining, at about $700m.
When the mining market can pay billions, larger companies are going to take a serious look at this. Companies that already have assets such as power generation and capital resources will task their very smart power managers to build long-term strategies around large, controllable power loads, hedging and energy storage systems.
These companies will begin to see how mining (transaction processing) can 'plug in' to their existing business and even subsidize poorly performing assets. I've personally seen signs that this process is beginning already and will accelerate in 2016.
The good news here is that the security and value of the network can continue to grow even as it remains decentralized.
2015 was a year that tested our resolve as miners and forced us to adapt or die.
I believe 2016 carries more potential for the business of transaction processing than ever before, but it may not look anything like we thought it would back in the heyday of 2013.
The same goes for the blockchain. We are now looking at using the blockchain (and implicitly bitcoin) in ways that achieve a similar vision but are not nearly so straightforward as "Send x bitcoins from User A to User B".
The potential increases for alternative chains to take up space in large mining centers. Private Custom Blockchain hosting is right around the corner.
I have a rule of thumb when it comes to new businesses: any good business takes 10 years to develop, and transaction processing is well on its way to reaching that milestone.
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:45 am
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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:46 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:47 am
Bitcoin Reddit Roundup October 2020.
Welcome to the October 2020 edition of Reddit Roundup by Nik and Flip of Bitcoin Magazine !
This post contains 37 links to most of the best quality content that was uploaded to Reddit for this month. Most links come from the popular r/bitcoin, but we also retrieved posts from other forums as well, such as r/BitcoinMining.
In this roundup, there are 10 different categories organizing each link: Privacy, Adoption, Development, Security, Mining, Business, Education, Regulation & Politics, Archaeology (Financial Incumbents) and, last but not least, Memes, Fun And Other.
October picked up in bullishness where September left off, particularly in the price. The confidence in BTC amongst the community has been as strong as ever, with many anticipating a steep rise in price and many bulls calling for a new all-time high before the end of the year. Only time will tell.
Institution adoption of bitcoin as a treasury reserve asset continues to be the hottest topic in the space, as Square joined MicroStrategy and bought $50 million worth of BTC. These were just two of the many dominoes to fall for Bitcoin -- Stone Ridge Asset Management revealed its $115 million Bitcoin investment as well.
This was especially interesting as many employees at the company were Bitcoiners and already holding BTC, enticing their firm's auditors to look at it more closely. All of these big institutions entering the space makes us think... Apple just released that it jas $191.83 billion cash on hand and you have to ask yourself, so when does Apple buy Bitcoin?
As time goes on, more and more of the legacy financial institutions are changing their minds about Bitcoin, and we saw them being pretty vocal about it this month. A former hedge fund chief manager from Goldman Sachs has come out with a $1,000,000 BTC prediction. This goes hand-in-hand with JP Morgan Chase talking sweetly about Bitcoin recently as well. It seems that the Wall Street firms are starting to give up the battle that they had no shot at winning in the first place.
In addition, legendary hedge fund manager Paul Tudor Jones has expressed that he likes Bitcoin now even more than before, and that this bull market is still in the first inning.
How to Mine Bitcoin.
Last Updated: October 3, 2020 References Tested.
This article was co-authored by Vinny Lingam. Vinny Lingam is the CEO of Civic Technologies, a blockchain-powered identity protection and management startup. Vinny was awarded the Top Young ICT Entrepreneur in Africa Award in 2006, was on the World Economic Forum for Young Global Leaders in 2009, and was voted one of the top 500 CEOs in the World in 2015. He has a BS in E-Commerce from the University of South Africa.
There are 15 references cited in this article, which can be found at the bottom of the page.
The wikiHow Tech Team also followed the article's instructions and verified that they work.
This article has been viewed 1,103,894 times.
You've heard of Bitcoin and you're ready to get your hands on some digital wealth. However, this may be easier said than done. When you "mine" Bitcoin, you actually verify Bitcoin transactions in the public, decentralized ledger of Bitcoin transactions (called the blockchain ). Every time you find a new block to add to the chain, the system gives you some Bitcoin as a reward. Back in the early days of Bitcoin, it was easy to mine Bitcoin using your own computer. However, as the cryptocurrency has become more popular, it has become all but impossible for individuals to make a profit mining Bitcoin. That doesn't stop a lot of people from trying, though. If you want to mine Bitcoin, you can either sign up with a cloud-mining company or build your own mining rig to mine for yourself. [1] X Research source.
8 Best GPU For Mining - Which Graphic Card to Choose in 2020.
Discover the latest and best GPUs for mining cryptocurrencies and let us help you choose the one that suits your needs.
Graphic cards are constantly evolving. Miners are bombarded with new hardware releases on a regular basis. Crypto-enthusiasts can often become overwhelmed with the available options of cryptocurrency mining equipment.
This article will explore the best GPU for mining in 2020. We will take a look at specifications, power, and budget choices, making it easier for you to choose the option that works best for you.
Keep on reading if you are interested in finding out about the best GPU for mining cryptos.
A short introduction to cryptocurrency mining.
If you are reading this blog regularly, you probably know what cryptocurrency mining is. For the sake of clarity, let's give a brief introduction to the concept.
Cryptocurrency mining is the process of verifying transactions on the Blockchain. This is done through solving complex mathematical problems (or hashes) through the computing power of your PC.
Where it gets interesting is that mining also generates new (crypto) coins. These are distributed as rewards to the miners that successfully verify transactions. This mechanism is called a proof-of-work .
It was Satoshi Nakamoto who first implemented PoW through the Bitcoin blockchain. The idea was that people would use the power of their CPUs to mine new coins. At the cost of their time and electricity, miners would be rewarded with new Bitcoin for their effort.
However, it soon became obvious that GPUs were much better suited at solving these hashes.
Soon after, FGPAs followed, allowing for faster mining. And finally, came the ASIC miners, which are much more powerful than GPUs.
Once ASICs got introduced to the market, many people thought that GPUs would automatically go obsolete. However, that did not happen, and time showed that GPUs still have their place in the mining industry.
While some mining algorithms require high computational power, others have been programmed to be ASIC-resistant . They accomplish this by requiring a lot of memory for solving their hashes, making GPU mining still relevant today.
With that said, not all GPUs are the same. There are some key characteristics that you should look for when choosing your graphic card.
Main aspects to watch for in a GPU for mining.
As far as mining is concerned, rendering and gaming performances are mostly irrelevant when choosing a graphic card. Instead, users should focus on aspects that directly impact mining efficiency:
Hashrate - This is the problem-solving power of the GPU. It shows how much hashes the GPU makes in a second. Hashrate impacts the speed at which new coins can be mined, and is dependant on the algorithm of a particular blockchain. Power Draw - This will be the running cost of your GPU. It shows how much electricity is needed for your card to operate optimally. Memory Size and Memory Speed - Memory size and memory speed are important for mining size-heavy algorithms like the one on the Ethereum blockchain. Pricing - Your initial investment. There are lots of cards out there, so the goal is to find the best option that suits your budget.
As new video cards for mining hit the market, some retain their efficiency, while others become obsolete. Let's see which ones are the best GPU for mining in 2020.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) with a GPU.
Bitcoin is the most valuable cryptocurrency on the market. It goes without saying that it draws the most interest when it comes to mining.
But even the best GPU for mining isn't good enough for Bitcoin. The original cryptocurrency uses the SHA-256 algorithm in its mining process which is notorious for its high computational power requirements.
Additionally, Bitcoin's mining difficulty goes up with the number of miners competing for the rewards. Its incredible popularity has increased the difficulty, leaving only one viable option to acquire new Bitcoins: ASIC miners.
However, these specialized machines are very expensive, hard to come by and have diminishing returns due to hardware degradation. Furthermore, they are designed for solving only one algorithm, restricting you from mining different coins.
If you are looking for a Bitcoin-friendly GPU, you will be quickly disappointed. You would simply never break-even.
So, how do you mine Bitcoin with a GPU? Is it still possible?
Well, you can't mine Bitcoin with a GPU directly. Instead, you can go down another road: mine alternative cryptocurrencies and exchange them for Bitcoin. This way, you will still be able to increase your Bitcoin portfolio.
Here's a great video that explains the ins and outs of building a GPU mining rig if you are a beginner.
So let's check our list of the best video cards for mining that are available on the market at the moment.
Best GPU for mining Ethereum and Other Cryptos.
Choosing the best GPU for mining is not an easy task. To help you, our list combines 3 important aspects you should be investigating: budget, performance, and running costs. At the same time, we talk about some crucial points you should consider like availability, single or multiple GPU systems, regional electricity pricings, etc.
Performance varies depending on the coin that is mined. To optimize ROI, check Betterhash profit ratios, and adapt to the market accordingly.
That being said, let's check the best options in the market.
1. Nvidia RTX 2080ti - expensive but powerful.
Hashrate: Excellent | Power Draw: 270W | Memory: 11gb GDDR6 | Price: $999.
This is Nvidia's flagship graphics processor. It was released in late 2018 and is still one of the most powerful graphic cards out there today. This shows how Nvidia dominates the market when it comes to sheer performance.
With a hefty price tag of about $1000 and a pretty large power draw of 270Watts, it's an expensive card to buy and run.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:47 am
However, the mining performance is nothing to frown upon, as calculators set it as one of the best GPU for mining. For those that don't have space for more than 1 card, this might be their optimal choice, albeit expensive.
2. AMD RX 5700XT - the new contender from AMD to Nvidia.
Hashrate: Good | Power Draw: 220W | Memory: 8gb GDDR6 | Price: $360-400.
AMD has been lagging in the GPU department, but their new lineup has a few cards up its sleeve (pun intended). The 5700XT was launched in late 2019 and has come to play toe to toe with Nvidia's best models.
Performance-wise, it's close to Nvidia's top of the line (RTX 2070 Super) and is a bit more affordable (-20% on average).
This puts in a sweet spot, as people can buy two of these cards instead of a single 2080ti. For those residing in locations where electricity is cheap, they can double their mining performance without breaking the bank.
3. Nvidia 1660 SUPER - mining on a budget.
Hashrate: Decent | Power Draw: 125W | Memory: 8gb GDDR6 | Price: $230.
This is the souped-up version of the 1660 Geforce series from Nvidia. Released in late 2019, it has similar mining performance to the RTX 2060 , while being a lot more affordable.
It's usually priced around $250, making it one of the cheapest cards on our list. It only consumes 125W, which makes it really efficient to run.
The low price and power consumption make it one of the best GPU for mining at the moment. You could buy multiple new cards, enjoy 2 years warranty and still remain on a decent budget.
4. Nvidia 1080Ti - an older flagship that still performs on a high level.
Hashrate: Good | Power Draw: 250W | Memory: 11gb GDDR6 | Price: $350-400 Used.
For those into the second-hand market, Nvidia's best GPU for mining from the last generation can be a great option.
Like any flagship GPU, the 1080ti was very expensive when it came out (around $1000). Theoretically, it was the best GPU for mining, but miners avoided it because of how expensive it was at launch.
However, this card has been around for a few years now and there are a lot of offers for it on the second-hand market. We've seen the 1080ti on eBay for $300-350 which puts it at an almost-budget level.
5. AMD RX 580 - the best budget solution even 3 years later.
Hashrate: Decent | Power Draw: 180W | Memory: 8gb GDDR5 | Price: $220 (under $100 used)
The RX 580 was AMDs answer to Nvidia's budget line of GPUs in 2017. While it lagged a bit behind in gaming performance versus the competition, it was considered one of the best GPU for mining.
A budget price of $220 new and 8gbs of RAM out of the box made it the most popular card. This made it very hard to find one on the market during the 2017 altcoin boom.
While it's raw power has fallen behind, you can find a bunch of these cards on eBay for under $100. This would allow you to build a multiple-GPU rig for cheap that would easily surpass newer cards for less money.
6. Nvidia GTX 1070 - an old favorite from the last generation.
Hashrate: Good | Power Draw: 150W | Memory: 8gb GDDR5 | Price: $380 ( $200 used)
The GTX 1070 was a close second in popularity after the AMD RX580 during the 2017 cryptocurrency bull run. It offers above-average mining capabilities and is still widely available in some parts of the world.
With the popularity of mining slowly decreasing, you can find droves of these cards second hand, sometimes even under $200. We do not recommend buying one new, as more powerful and more affordable cards are available today for the same price.
7. Nvidia RTX 2070 SUPER - excellent miner for half the price.
Hashrate: Excellent | Power Draw: 250W | Memory: 8gb GDDR6 | Price: $500.
The Super versions of Nvidia's 2018 lineup brought excellent value placing them at the top of the best GPU for mining.
The 2070 Super isn't the most affordable card to run continuously with its 250W power draw. Performance-wise, it's close to the cheaper AMD 5700XT, so why would you even consider buying this GPU?
The answer is - Availability. The 2070 Super can be found anywhere most of the time, unlike its AMD rival.
8. AMD Radeon VII - power-hungry, but incredible mining performance.
Hashrate: Excellent | Power Draw: 300W | Memory: 16gb HBM2 | Price: $700 ($450 used)
The Radeon VII was our first choice for the best GPU for mining Ethereum a few months ago. A large amount of high bandwidth RAM ensures excellent mining performance.
It has the same mining capabilities as the top card from Nvidia, and it's cheaper, although a bit more power-hungry.
So what's the catch? Well, like it's often the problem with premium AMD cards, it's the availability. You will have a hard time finding one new if you are looking for hardware under warranty.
Still, for those on the lookout for used GPUs can find them at decent prices regularly on eBay.
Stats Comparison.
Our top pick (Our favorite GPU miner)
It's difficult to single out one card as being the best GPU for mining overall. There are a lot of parameters to consider. Some, like electricity cost and GPU availability, will depend on the region you are situated in.
Still, we are here to help you make the best choice, and our recommendation goes to the Nvidia GTX 1660 SUPER.
The card can be found as low as $210 and is a great ROI, especially when combined with the low power draw and decent performance. This is the new card to beat when building multi-GPU rigs in 2020.
Good availability Runs Cool (low heat) Small format (makes GPU mining rigs easier) Low power consumption.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:48 am

ETHER MINING: How to get 25 mh/s with a GTX 1060 (Windows)|6:45
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:48 am
Average performance Too recent, no second-hand market.
What coins can you mine with a GPU?
If you are serious about your GPU mining, our advice is to often check what coins are the most profitable. The GPU mining scene is ever-changing, but there are a few cryptocurrencies that have proven to provide good value over time.
Here are the top 5 coins to mine at the time of writing:
1. Ethereum (ETH)
Ethereum (ETH) is the second most popular cryptocurrency and is a great way to start your GPU mining adventure. It's widely accepted as a payment method and you can sell it on any exchange if needed.
Also, it might be your last chance to mine some ETH before the network changes its consensus mechanism to PoS in Q3 of 2020.
2. Ethereum Classic (ETC)
Ethereum Classic (ETC) is the original, unaltered version of the Ethereum blockchain. ETH was forked from Ethereum Classic after the DAO hack in 2016.
ETC is constantly one of the top 20 cryptocurrencies by market capitalization. This makes it quite a safe coin to mine, given its popularity.
3. Monero (XMR)
Monero (XMR) is a cryptocurrency with a focus on private transactions. Unlike Bitcoin and Ethereum blockchains, transactions can't be traced on the Monero Blockchain. While anyone can use the network, the source, amount and destination remain private.
4. RavenCoin (RVN)
Ravencoin is a fork of Bitcoin which adds features specifically focused on allowing tokens to be issued on the Ravencoin blockchain.
Through the Ravencoin network, users can create and transfer assets from one party to another. Similar to Monero, it focuses on the privacy of its users.
5. Bitcoin Gold (BTG)
Bitcoin Gold is a hard fork from the original cryptocurrency that was designed specifically to be ASIC-resistant. One of the main reasons for its creation was to democratize mining and make it accessible to enthusiasts that want to build their own machines with GPUs.
This concludes our article about the best GPU for mining of 2020. Let's sum up the main points you should be considering when building your own GPU mining rig:
Always weigh out the main aspects when choosing your hardware: performance, price, and running costs . There's no perfect GPU, they all have their pros and cons. Check the second-hand market for availability and great deals. There's nothing wrong with mining using second-hand hardware, as long as you accept the warranty risks. Use mining calculators and check what is the most profitable at the moment. Often check running costs versus income to ensure you aren't mining at loss.
Hopefully, this guide will give you the necessary info when choosing your GPU. The latest Nvidia mining GPU are great performers and if you are looking for new gear, you can't go wrong with a rig built around the GTX 1660 SUPER.
Best mining GPU 2020: the best graphics cards for mining Bitcoin, Ethereum and more.
Join the cryptocurrency craze with the best mining GPUs.
If you're looking for the best mining GPU for delving into cryptocurrency mining, then you've come to the right place. Excellent mining GPUs need enough memory and power for mining without breaking the bank. And, we've got the best of them right here. After all, when you start mining for Bitcoin or Ethereum, you won't be yielding large amounts of cryptocurrency to start. Minimizing your initial costs as much as possible, therefore, is ideal.
Cryptocurrency may not be as popular as it used to be, but that doesn't mean it's dead. Bitcoin, Ethereum and other crypto coins are still flowing, while others are booming, which means that there's still a demand for mining GPUs. That means that there's still quite a few of them out there, all vying for your money.
Let us help you find the best one for you. Keeping price and efficiency in mind, we gathered the best mining GPUs money can buy in 2020. We've also included our exclusive price comparison tool, so you get the best price on whichever one you pick. This way, you can maximize your profits and start making your initial investment back as quickly as possible.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 08:49 am

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Title: Re: Bitcoin mining.
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5 Best GPU for Mining Bitcoin.
Bitcoin is a phenomenon which took everybody by surprise when it reached the highest price of around $20K by December end 2017. If you are among those who knew of the phenomenon but were late to jump on the bandwagon, then don't worry Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) could be your way to earn the Bitcoin riches.
Mining is the process of verifying transaction on the Bitcoin Blockchain, which rewards the miner with a certain Block Reward (12.5 BTC currently). In order to start mining for Bitcoin or any other altcoin, you need certain hardware equipment.
This article would help you understand the process and the prerequisite of mining rigs to create a perfect setup for mining bitcoin.
The idea of Satoshi Nakamoto was to create a network of cashless transaction where the whole network is maintained by the peers, instead of a few selected ones. Bitcoin makes use of Proof of Work protocol, which is based on the SHA-256 algorithm.
In order to move to the next block, the hash function of the previous block is required, where the input hash has a predefined output which cannot be tampered with. In order to verify a transaction, one needs to verify the hash function associated with each transaction.
Now the process of verification requires computational power since the encrypted hash function is 256-bit, your computer needs to run simultaneous codes to verify the output hash function with the input one.
Earlier when the number of miners on the network was limited, it was easy to mine Bitcoin using a CPU based home PC. However, with time the mining difficulty has increased significantly, and people have started using specialized mining rigs, generally with multiple video or graphics card to generate extra hash power to mine the block earlier.
GPU focused mining rigs are the considered to be most suitable for the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) process, since it can run multiple codes to verify the output hash function, instead of a CPU which is considerably slower, when it comes to multi-tasking.
So, if you are jumping in the Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) game, you would require a good GPU mining rig, to compete with others. We will discuss 5 such GPU mining rigs which might suit our need.
5 Best GPU Mining Rigs For Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw).
1. Nvidia GeForce GTX 1070.
Nvidia which is known-name in the gaming industry found a different user base with almost same needs. Nvidia has been in the manufacturing of GPU mining rigs for long, and it's GeForce GTX 1070 is perfect for the beginners. It provides high hash rats of up to 30mh/s and consumes considerably less energy while doing it.
Mining process requires a lot of energy in fueling the rigs to generate high hash rates, so you know that GTX 1070 with less energy consumption is a perfect choice in the long run. The initial cost is high, but in the long run, it's one of the best choices for mining bitcoin.
2. AMD Radeon RX 580.
The AMD GPU rigs are equally popular to that if Nvidia, if not more. The AMD Radeon RX 580 can generate hash rates of 29 MH/s and saves you a ton in electricity bills. It's among the top choice for miners and warranties great performance. With its cost lower than Nvidia's GTX 1070, it can always match the performance.
By tweaking a few settings by looking at online setup tutorials, this AMD GPU could be your way to earning Bitcoin riches.
3. Nvidia GeForce GTX 1060.
The GeForce GTX 1060 might not be the beast of a performer, but given the price point, it can easily be a good mining rig for beginners, as it is comparatively cheaper than any other option available in the list. The GTX 1060 can alternatively be used for gaming as well, so it's a win-win situation.
4. AMD Radeon RX Vega.
One of the best performer from AMD, the RX Vega, and its benchmark scores even leave the Nvidia GeForce 1070 behind. It's one of the great overall graphics card packages and does what it promises the best. With high performance comes the headache of high-energy consumption, and heating issues. Do, if you are Bitcoin miner planning to run the beast 24*7 then, heating could be an issue.
But, looking from a purely mining point of view, this is certainly the best performer.
5. Nvidia GTX 1070 Ti.
The GTX 1070 at the top of the list provides a great GPU mining performance, however the GTX 1070 Ti better over it with few amendments like better clock speed, high-performance output. However, there have been reports of bugs in the software which lower the hash rate, plus its costlier than its predecessor and also consume more energy. Thus if you are looking to mine Bitcoin, make sure you have done your research right.
GPU mining rigs became a rage when people started taking mining seriously, earlier the mining process was intended to maintain the decentralization aspect of it. However, the high price rise of Bitcoin turned it into a legit business.
There are many mining farms which have come up in the location where the cost of electricity is cheaper and climate suits the high-heat yielding machines. If the 2018 market fall has made the individual mining non-profitable, you can opt for mining pools to earn a few bitcoin.
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9 Profitable BitCoin Cloud Mining Contracts And Services.
Unless you own a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware such as Antminer, you will probably not see a single coin mined with your 'powerful' desktop computer, this is because it takes a lot of processing power just to solve a simple equation. This is where Bitcoin Cloud Mining comes into play, instead of mining for a single coin, you rent a cloud server, this means you can participate in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) without maintaining the hardware yourself.
Cloud Mining is a way to mine bitcoin cryptocurrency without the need of owning a miner or mining hardware. Simply said, you buy yourself some shares of mining power - like a mining pool - and profit together with the pool. This means that you only need a contract with someone who offers Cloud Mining Services and a bitcoin wallet.
Like everything in life, there are risk, these risks includes the possibility of fraud and lower profit due to the opaque mining operations. There are various type of cloud mining, the two main types of hardware leasing or hashing power leasing. Hardware involves you renting their miner for a specific duration, hashing leasing involving renting a certain amount of processing power.
Warning - There is no guarantee Cloud Mining is profitable, do your own research, given a choice, I rather invest via BitCoin exchange over cloud mining.
↓ 01 - CryptoMining Farm | Hashing Leasing.
Cryptomining.farm is a new cloud mining company and investment opportunity that wants to give people a way to utilize high quality crypto-currency mining with guaranteed profits. GHS is Virtual Mining hashrate. They don't have any real bitcoin asic hardware.
↓ 02 - Genesis Mining | 1000 GH/s for USD180.
Genesis Mining is a large cloud mining company and hashpower provider for Bitcoin and Altcoins. You can mine any cryptocurrency available in the catalogue! Switch your mining power on the fly for all the coins. You will get daily payouts of your investment to your designated wallet.
↓ 03 - HashFlare | 1000 GH/s for USD150.
HashFlare.io offers cryptocurrency cloud mining services on modern, high-efficiency equipment. The mining starts immediately after confirmed payment. First payouts within 24 hours. Miner is a highly efficient piece of mining equipment specially designed for cryptocurrency mining. Their datacenters house hundreds of miners. Miners are connected to pools. There are many pools so HashFlare allows you to connect to ones you choose. This allows you to find the most profitable combinantion. Next, all mined cryptocurrency is distributed among all customers of HashFlare depending on their share of hashrate in the whole system.
↓ 04 - Hashnest | Rent Hardware.
Hashnest is a cloud hashing platform. This means you can participate in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) without maintaining the hardware yourself. Escape the noise, costly electricity bills, and warranty headaches.
↓ 05 - BitCoin Pool | 2TH/s for USD900 | Hashing Leasing.
To start earning, simply buy a cloud mining contract from them. You don't need any special hardware to do cloud mining, they will do the mining for you. They pay a 110% block reward, and charge 0% fees for PPS and PPLNS.
↓ 06 - Eobot | Hashing Leasing.
They are the easiest, cheapest, and best way to get or mine Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Ripple, Dash, Golem, BitShares, CureCoin, NEM, Monero, Zcash, Factom, Bytecoin, STEEM, Lisk, MaidSafeCoin, USD, Gridcoin, and Ethereum Classic. Whether or not you use our Cloud Mining or your own hardware, you can mine any cryptocurrency, regardless if it is based on a SHA-256 or Scrypt algorithm.
↓ 07 - MinerGate Cloud Mining | Hashing Leasing.
This MinerGate Mining Contract has a power rating of 200 GH and a lifetime duration. The Company has a solid reputation for integrity and charges a management fee for hosting and maintaining your GH in their optimally chosen global locations. The most advanced mining hardware and only freshly mined Bitcoins, Ethereum and Monero directly from the block rewards are a couple of clicks away.
↓ 08 - Hashing24 | Hashing Leasing.
The Hashing24 Small Mining Contract has a power rating of 100 GH and a 36 month duration. The contract is provided by Hashing24, a cloud mining contract provider that has been involved in a mining business since 2012. Its initial mining power supplier is one of the industry's leaders - BitFury. Hashing24 provides turnkey renting solutions from the largest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) data centers.
↓ 09 - NuVoo Mining | Hardware & Hashing Leasing.
The NuVoo Starter Mining contract has a power rating of 527.08 GH/s and a lifetime duration. There is no additional fees, including maintenance and electricity fees. The specific duration of a contract of liftetime duration is variable and determined by three factors: the difficulty of the exploitation, Bitcoin exchange rates against USD and maintenance costs (which includes all the costs of electricity, cooling, development and maintenance). Once it is no longer profitable to mine, the contract will be terminated.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:14 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:14 am
8 Best Cryptocurrency Mining Contracts.
Here, we have shared with you 8 Best Bitcoin & Cryptocurrency Mining Contracts .
In recent years, the number of individuals obtaining Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Contracts has multiplied many times. More and more persons are searching for the least expensive and trusted Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Contracts.
However, you need to be extremely watchful while purchasing a cloud digging contract for Bitcoin or some other Cryptocurrency. You should not put your trust in any arbitrary web specialist co-op without knowing the same.
In fact, there have been a substantial number of fake plans identified with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Moreover, profound concerns have been raised with respect to the cloud mining administrations.
Here, we endeavor to reduce your inconveniences by featuring the best Bitcoin Cloud Mining Contracts.
The Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Contracts are generally sold for bitcoins on a per-hash basis for a particular period of time.
There are many factors that go on to impact Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Contract profitability. The primary factor is the Bitcoin price.
For instance, Pay per GHash/s is 0.0012 BTC / GHs for a 24-month contract. Moreover, Contracts can vary from hourly to multiple years.
What is a Bitcoin Cloud Mining Contract?
Bitcoin Cloud Mining Contract is an agreement with a cloud mining company wherein you pay them some money, and they offer you some computing power for mining coins, which belong to you.
Herein, you pay for the output of mining power from hardware that is placed in remote data centers. A certain amount is paid upfront to a server company for mining Bitcoins.
So, the user need not invest in Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware and pay for the electricity. Plus, the data center need not rely fully on the price of Bitcoin.
What should you look at while choosing a cloud mining contract?
Reputation.
Firstly, you need to ascertain the reputation of a cloud mining contract. So, make sure that the operations are being done without any hassle. You need to figure out that the company does not exploit the "Bitcoin Boom" and is not essentially ripping you off.
You should read reviews from different sources so that you can make an informed and educated decision. However, we try to help you out by listing the best Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) contracts so that you need not carry out extensive research yourself.
You need to figure out the price of operations. Most companies tell you that you'll "break-even" by a certain month. You can pick out the machine that you would like to rent. You can put as much money as you want. The minimum amount is $10 to $20 per month.
The Advantages.
There is no need to man your servers. For the right price, that someone else's problem. However, you need to pay the maintenance and service fees associated with this practice. There's no need for upkeep, electricity costs, software installations, or expensive hardware You can quit at any time in case Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) becomes unprofitable No need to wait to start Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) No ventilation problems with hot equipment No out-of-stock equipment to wait on for being re-stocked.
The Disadvantages.
It is hard to find a trustable provider You are tied with the decisions of the provider. You cannot upgrade the gear yourself Lower profits long-term You need to depend on a cloud mining provider that can close down anytime due to low price on Bitcoin.
Irrespective of these disadvantages, Bitcoin Cloud Mining Contracts is the best choice for most people that aren't much tech-savvy or have money to put down for buying expensive hardware.
Currently, Cloud Mining is profitable. The current mining hardware allows it to be profitable after a certain amount of time. 12 to 16 months is usually the standard. It also depends on the price of Bitcoin. If the price of Bitcoin rises, so does your total revenue. Moreover, the more money you invest, the more money you will get back.
Most of the cloud mining companies go on to accept Bitcoin, PayPal, as well as Credit Cards. However, you must know that Bitcoin payments cannot be reversed. There's no way to get your coins back.
Unfortunately, there have been many scams in the Bitcoin cloud mining industry. Nowadays, it is very simple to set up a website and claim that the users will get X, Y, or Z. However, in reality, they might not be having any facility or hardware whatsoever.
Now, we move on and explore the best Bitcoin Cloud Mining Contracts / Hashing services out there:
8 Top Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Contracts.
1. Eobot Mining Contracts.
Eobot is recognized as one of the best cloud mining solutions out there. It allows you to purchase fractions of a cloud instance. You can pay with PayPal or by using Cryptocurrencies to mine a wide variety of cryptocurrencies like Litecoin, Bitcoin Cash, Ripple, Golem, Ethereum, and Dash, to name a few.
For each cloud instance that runs SHA-256 you own, you can get 1.0 giga-hash per second. It is the preferred one for Bitcoin because of its difficulty level. The Cloud Scrypt can get you 1.0 mega-hash per second, which proves suitable for Litecoin and other lower-difficulty coins.
As you can start small, it proves a great choice for a beginner that wants to start with Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw). Moreover, it is easy to get started. You can start with as low as $10. You get mining updates every 60 seconds, which makes it easy for you to track your profits. Eobot also offers a free calculator on its website allowing calculating the earnings per cloud instance.
2. NiceHash.
NiceHash is more of a marketplace rather than a company that's into the selling of cloud mining. It allows you to meet sellers with mining capacity. You can even sell capacity and connect with buyers here. NiceHash allows you to cancel at any time without a cancellation fee. The rates are a bit cheaper here than the data centers that rent out space and maintenance service. However, NiceHash allows you to pay and get paid in Bitcoin as of now.
3. Bitcoin Pool Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Contracts.
Bitcoin Pool is the world's highest paying mining pool. It allows you to mine Bitcoin easily on the cloud without the need to buy hardware or plug your own hardware.
They offer BTC and BCH mining. You can even choose to mine the most profitable coin automatically. You can even mine with its cloud mining contracts with 100% guaranteed uptime.
You can start mining with your own ASIC hardware to get benefitted from its high payouts. It has the lowest share reject rate (0.15%). They have a super responsive and reliable support team. They have the highest payouts across the industry.
So, you can mine Bitcoin in the cloud without having to buy any mining hardware. You simply have to choose the amount of computing power that you want to mine with its global data centers and leave the rest to them.
It's a global pool network that allows you to maximize your profits and benefits from its monitoring features.
You can buy a cloud mining contract from them. There's no need for any special hardware for doing cloud mining. Its pay a 110% block reward and charge 0% fees for PPS and PPLNS.
4. Genesis Mining.
Genesis Mining is one of the best cloud mining providers out there. It offers an easy-to-use interface and an easy way for mining Bitcoins.
Genesis Mining has a lot of experience in this field, as it happens to be one of the oldest cloud mining providers out there.
They have been recognized as the largest cloud Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) company. They can handle a lot of volumes doing it well.
Genesis Mining allows you to allocate the hash-power you own for different mining coins at the same time. So, you can use one instance for a variety of cryptocurrencies. It makes it extremely easy to accomplish and diversifies the risk of investment.
They have come up with different pricing packages based on the coins you want to mine and the amount of hash-power you want. However, they are a bit expensive than others in this field. That said, their support and experience make up for that.
5. Minergate.
Minergate is not only known for cloud mining, but it also offers mining software allowing you to easily mine cryptocurrencies using your computer. With Minergate, you get all the included costs and potential profit calculations. It offers a clean UI and over 20000+ happy users.
So, Minergate happens to be a great choice for a beginner. It allows you to set the amount that you want to invest per day, thereby helping you to enter the world of crypto mining. With Minergate, you can mine Bitcoin, Ethereum, and Monero.
6. Hashflare Bitcoin Cloud Mining.
Hashflare is operating since 2014. It's a renowned cloud mining provider out there. They have come up with a customizable pool mining solution. So, you can choose which pools you want to mine to make the most money possible.
They have set up transparent fees and commissions, allowing you to keep track of how much you have actually made.
Hashflare, like other Bitcoin cloud mining providers, offers two types of mining: Scrypt and SHA-256. They have also come up with specific packages for all those who are interested in mining Ethereum, Zcash, and Dash. Its pricing is easy to understand and is delivered at a competitive rate.
Your first payout comes to you within 24 hours. So, you can quickly see your investment paying off, slowly but surely.
7. Hashing24.
Hashing24 is operating since 2012 and has served thousands of satisfied customers. It's a well-renowned and well-established cloud mining company out there. They go on to use modern ASICs from Bitfury, thereby making sure that they have the most efficient and powerful hardware as possible. They assure a 100% uptime guarantee. So, you don't need to face any downtime or errors with them.
Hashing24 has its data centers in Georgia and Iceland. They give you calculations of the expected ROI time-frame by showing all the numbers beforehand. So, Hashing24 comes as a highly recommended service. They keep their users informed of all the included fees. Moreover, they offer all the good things that you expect with a cloud mining company.
8. Hashnest.
Hashnest offers excellent cloud mining contracts. It is being operated by Bitmain, the ones that are behind the Antminer line. Presently, Hashnest has over 600 Antminer S7s to rent out. As they are owned by Bitmain, they can easily re-stock in case they happen to run out of stock.
Hashnest has come out with a special contract called PACMiC V5. PACMiC means "Payback Accelerated Cloud Mining Contract." So, it aims to cut down on the payback time-frame a lot. With PACMiC, you can see a return on investment more quickly than other traditional cloud mining contracts.
Note: We recommend everyone interested in Bitcoin cloud mining to stay away from those cloud hashing companies that offer free trials. Any company that offers free trials are most certainly wants to scam you.
With this, we have featured all the 8 Best Bitcoin & Cryptocurrency Cloud Mining Contracts. I hope this post helped you in choosing the best Bitcoin Cloud Hashing Services. Thanks for visiting.
Title: Re: Bitcoin mining.
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Best Bitcoin Cloud Mining Websites in 2020 - Complete Guide.
Crypto mining represents a good way of lining your virtual wallets with various types of cryptocurrency. Naturally, turning profit from anything isn't easy; to mine cryptocurrency successfully, you need to invest heavily into hardware and know-how required to operate said hardware.
Knowing how to set up a crypto miner and paying for the electricity it spends aren't the only parts of the equation, with the last one including following the market and determining which coins to mine. This element also requires significant resource (namely your time) dedication as well.
Some people like to avoid the first part and only focus solely on hunting for mining opportunities. But even when you find a good cryptocurrency to mine, you'll still need to somehow find the hash rate required to mine said currency.
This is where cloud mining services jump in: with the help of these, you can basically borrow hash rate online and direct it to mine the currency of your choice. As such, you can become a crypto miner while avoiding all the pains of installing and managing your own hardware.
This practice comes with its own advantages and drawbacks. While the entry cost is much lower and the service is in general accessible to a wider pool of individuals, your profits will be lesser than if you were to mine with your own hardware.
Additionally, you don't own any hardware so you cannot sell it if you eventually decide to cut costs. Finally, cloud mining is a hotbed of illegal activity, as malicious individuals look to create fake cloud mining websites and take advantage of those looking for the service.
In this article we'll give you a quick overview of some of the more reputable cloud mining services on the market. Any potential cloud miner should research these services in depth and determine if they can help him turn a profit; online profit calculators (which most of these services have built-in already) can give said miner a better idea of one service's profitability.
At this moment in time and with these current crypto prices, cloud mining doesn't seem like a very profitable endeavor; still, it's not impossible to find a diamond in the rough and achieve some financial gains with properly directed rented hash power.
Before we move on to the top cloud mining sites list, here is a comprehensive overview of what coins are worth mining these days. These cryptocoins are easy to mine and give best returns.
Best cloud mining contracts 2020.
NiceHash.
NiceHash is an online crypto mining marketplace which connects sellers and buyers of computer hashing power. Exchange of hashing power goes through "mining contracts", where buyers set their terms (like the amount of hash they need, how long they need it, and the price they are willing to pay for it) and sellers then choose if they'll accept them or not.
The entire economy of this marketplace is "powered" by Bitcoin, with buyers using it to purchase the hashing power and sellers getting compensated in Bitcoin for their resources. This is an important thing to understand; you don't get paid in cryptocurrency you decide to mine/your hardware is pointed towards, but in Bitcoin. Hashing power sellers that sign up for NiceHash can choose to provide their service with all sorts of hardware, including CPU, GPU, and ASIC. NiceHash itself claims it doesn't own any mining hardware.
There is a total of 34 mining algorithms supported by the service, including SHA-256 (Bitcoin's algorithm), DaggerHashimoto, Sia, CryptoNight, Blake, Equihash, Scrypt, Keccak, Lyra2RE and 2REv2, X11, X13, X15 and others. The number of mining pools that can be mined on is also significant, as all mining pools that follow stratum protocol specifications are supported.
The service operates from Europe under the "NiceHash" name while their USA servers operate under the name of WestHash. The servers are located in Amsterdam, San Jose (USA), Hong Kong (China), Tokyo (Japan), Chennai (India), and Sao Paulo (Brazil).
Cloud mining service located in Tallinn, Estonia, operates on a similar principle to all other cloud mining services. HashFlare does apparently own some of the mining hardware they use to provide the market with hashing power. That being said, they do allow outside miners to contribute to the cloud as well.
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Originally provided cloud mining contracts for Bitcoin, Ethereum, Zcash, DASH and Litecoin (support for Script, SHA-256, ETHASH, EQUIHASH, X11 algorithms). Payouts were originally made in the currency you mined, with the exception of Litecoin (which was paid out in BTC). At the moment, they only have a limited amount of Ethereum smart contracts on offer.
The service isn't exactly known as very reliable in the community. A Trustpilot rating of 2.8 out of 10 (214 reviews) and bittrust rating of 2.1 out of 5 (816 reviews) that there have been plenty of individuals who got burned by HashFlare. And the service did face several major scandals in the past, from retroactively introducing KYC/AML requirements, over shutting down Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) on their platform, to randomly cancelling people's contracts for no apparent reason.
Some have reported earnings from mining with HashFlare so it remains unclear if the service is reputable or not (even though the amount of red flags suggests you should avoid it).
Operating from offices in UK, Thailand, and Ukraine (with data centers holding their mining devices located across Georgia and Iceland), this mining service existed on the market since 2016. It's also closely tied to the BitFury mining chip-making project which gives the service most of the hashing power it sells and an added level of legitimacy.
It only supports Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and offers one-time-pay, lifetime mining contracts. These have all currently been bought out but the website hosts auctions where you can buy a contract from an existing client. Overall, Hashing24 appears to be a reputable cloud mining service, one that may be somewhat overpriced with the current Bitcoin prices though.
Founded in 2013, the service owns mining farms across Europe, USA and Asia. Some consider it to be among the most reputable mining services out there and the fact that it's registered with the SEC as a Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) fund certainly helps that. Others feel that the service isnt that good, as its Trustpilot rating might indicate.
Keep note, Trustpilot and other rating aggregation websites can have skewed ratings due to bots and competitors trying to intentionally keep them down. The service claims to have over 300 thousand registered users on their books.
Genesis Mining service includes either open-ended or lifetime contracts for mining Bitcoin's SHA-256, Scrypt, X11, Cryptonight, Equihahs, Ethash. It supports Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) and offers Ethereum, Litecoin, Dash, Monero, Zcash mining contracts to top it all off.
You can also choose the currency you want to get your payments in; for example, you can choose to mine Ether but have your mined coins traded instantly on an exchange by the service to an ERC-20 token, and then receive payouts in said token.
IQ Mining.
As its name might suggest, the service markets itself as the "smart" cloud mining solution, one that automatically switches between mining different coins, thus ensuring you the best possible profit over time. Founded in 2016, it boasts with having nearly 100 thousand registered users (with about 4000 of those being active on a daily level).
It is a pay-as-you-go cloud mining platform, allowing you different mining plans and contracts that can have your hash power ultimately hop between a really diverse selection of 150 altcoins. The hardware used to provide hash power is apparently owned by them and anything you mine out will be paid to you in Bitcoin. Ethereum, Litecoin, Monero, Dash, Zcash are among the mineable currencies.
Nuvoo Mining.
Canadian mining endeavor founded on 2016, Nuvoo takes advantage of the country's access to cheap, environmentally-friendly electricity and offers hardware lined up across several mining farms to its customers. Nuvoo Mining offers Bitcoin, Litecoin and Ethereum mining (meaning it supports SHA256, Scrypt and Ethash algorithms). No matter what they mine, clients will get their payments in Bitcoin only.
The contracts offered by this service are open and users can mine as long as it's profitable. Some drawbacks of this service include the fact that they don't publish which mining pools they use and the fact that they lack a native wallet client. Overall, the service has received mostly favorable reviews from the community.
MiningRigRentals.
MiningRigRentals operates since 2014 and is certainly a website that will impress you with its massive offer of crypto mining algorithms. SHA-256, Scrypt, X11, BCD, Dagger-Hashimoto, Equihash, Qubit, Cryptonote and all sorts of its variations, you name the algorithm you'll likely find it here.
Sometimes you'll find an algorithm that doesn't have available rigs for rent but the big ones will almost certainly have hundreds on offer. This website is a marketplace which allows both hardware owners to rent out their hash power and miners to purchase someone else's hash power.
The service claims that it has been developed from the ground up by miners for the mining community, and from everything we saw it definitely looks like that.
There are very few user restrictions and the website has an impressive Help section which can take you through any potential issue you may come across while mining. Only downsides we could think of include somewhat high fees and a simply-looking website (which can be a positive sign for some more ascetic individuals).
CCG Mining.
CCG Mining was founded in 2016 in UK and apparently has its hardware situated in two Polish mining farms. They claim to be a real company with real people behind it and the project's team page does imply that (even though simple Google searches for their employees don't reveal much about them).
One of the project's defining services is the fact that they sell mining rigs to interested customers; currently there are three pre-built mining rigs on offer with AMD and NVIDIA GPUs installed. Their rig prices are a bit steep though and you could probably do much better pricewise if you simply assemble one from the used hardware market.
The service lets you mine coins like BTC, ETH, ZCASH, MONERO, DASH, LTC, and LBRY. Contracts are open-ended and run up to 2 years, which could potentially net you a decent profit. You can purchase either one of their pre-determined contracts or set up your own custom one.
They claim to have over 45 000 private clients and over 850 business clients and want to become Europe's leading hash rate provider. A potential issue with the service could be the fact that the person who registered its domain decided to stay private.
AGIO Crypto.
AGIO CRYPTO is a project providing cloud mining services since 2017. It has its own data centers in Russia and Ukraine, and is a reseller of the capacities of mining industry giants -- Bitmain and SaintBitts - which are located in Island and China.
Some of the most powerful ASIC devices out there, such as Antminer S9 (14 TH/s, 1450 W), Antminer L3+ (504 MH/s, 800 W), Antminer E3 (180 MH/s, 800 W), and Innosilicon A4+ (620 MH/s, 750W), currently provide the hashing power this project sells to the market. Besides providing clear purchase documents for their devices, AGIO apparently has a work license given to it by the Saint Vincent and the Grenadines registrar of international business companies.
The service offers dedicated cloud mining servers for mining Bitcoin, Litecoin, Ethereum. They also have something they call Mining Profitability Booster technology which can apparently increase your mining profitability by 200%.
MPB is an indicator that informs customers about the most favorable moment for the sale of the earned cryptocurrency. With MPB technology, users do not need to constantly monitor the market and analyze the data. Contracts are of the lifetime type and can be purchased with either USD or EUR. They are currently out of stock but there is a waiting list you can apply to.
MinerGate is a popular online crypto mining marketplace, one which apparently contains more than 3.5 million active clients. Some even consider it the "friendliest" cloud mining solution on the market. On this service, you'll find pools for cryptocurrencies such as Monero, Grin, Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Gold, Zcash, Bytecoin, Monero Classic. It even offers support for merged mining.
MinerGate is definitely one of the more established projects out there, having their own blockchain explorers, profitability calculators, pool stat trackers and service monitors. They even offer integration with the Lumi Wallet and have their own native MinerGate token which acts as development fuel, loyalty tool and support for EOS network.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:23 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:29 am
Hashnest.
Cloud service backed by the much-maligned Bitmain mining hardware producer. It is located in China but has offices and representatives all around the world. It was introduced to the market in April 2014. While some reviews suggest it's a decent, trusted option, others have apparently been burned by the service. This doesn't stop them from using the "best cryptocurrency mining platform" moniker to describe themselves.
By default, all miners are directed to Antpool, which is a part of the BitMain Corporation. The company has a number of Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farms located in China and Iceland, most of which are not available for viewing for "customer protection and security reasons". They do claim that they currently own the world's largest Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) farm.
Final verdict - which one is the best cloud mining platform?
Before we wrap this up, one important remark to highlight:
Majority of cloud mining contracts are scams. Why?
Because there are no guarantees that the company actually has the hardware for mining or that it will pay out your commissions. History teaches us that our first assumption about any crypto service is that it is a scam and then we search for arguments of contrary. Bottom line - be very careful and vigilant in your research.
So keep in mind: 99% of cloud mining platforms are scams.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) contract.
Our team has been involved with cryptocurrencies mining has over 6 years of professional experience. Bigger mining & greater trust! We always do more than is required of you.
LIGHTNING TECNOLOGY.
Our Lightning technology is an overlay network to increases its utility by enabling instantaneous micro-transactions. It is among the industry's most important efforts for cryptocurrencies mining, and this technology has been applied to the data centers in Singapore, Canada, Norway, Iceland, and Georgia.
Nick Wichmann, Bitcoin24Contract.
Technical support operates 24 hours a day.
Highest-quality equipment allow the mining process to achieve maximum efficiency and makes the contract prices become most aggressive in the market! The highest standard of CRAC (Computer Room Air Conditioner), PLC ( Program Logic Control ) and UPS systems are well designed specific for Lightning Technologies©
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Please send us your name, photo, email and the contracts you purchased, we listen what you have to say.
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Bitcoin24contract couldn't be more grateful - my life changed in this few years and my family want to say Thank you to your company too. If you ever find you guys in a jam on money or human resources, please feel free to call on us for help. My whole family be there. Sincerely, Johnny.
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About our company.
Bitcoin24Contract was founded in 2013 by professionals, we are the FIRST company apply Bitcoin Lightning Technologies© on the Bitcoin (BTC) mining. Bitcoin24Contract stay informed on the world's leaders in the cryptocurrency mining and cooperates with major players and vendors like BTC.com, AntPool, F2Pool, ViaBTC, and BTC.TOP. Our international business network and experience gives us the opportunity to develop new technology and provide the most reasonable prices to strengthen us in the global market.
About Bitcoin.
Look away now if you own bitcoin or other cryptocurrencies. This won't be breaking news to you if you are invested, Bitcoin is one of the most important inventions in all of human history. For the first time ever, anyone can send or receive any amount of money with anyone else, anywhere on the planet, conveniently and without restriction. It's the dawn of a better, more free world.
Bitcoin Profitability Calculator - BTC Mining Profit Calculator.
Enter your set up information in the form below. Do not enter commas, only dots for decimal separator.
Nothing guaranteed, of course this is only a rough estimate! Do not enter commas, only dots for decimal separator. You can also calculate rented mining by setting "Power consumption" to 0 and "Cost of mining hardware" to the rent per time frame. Default values are for a system of four 6870s.
Estimate Strategy.
Extrapolating bitcoin difficulty or price is pure voodoo. It is much easier to predict the relationship of the two parameters in form of the Mining Factor. The Mining Factor 100 is the value in USD of the bitcoins you can generate if you let a 100MHash/s miner run for 24 hours. If the Mining Factor 100 rises above $2 or so everybody buys mining equipment and thus increases difficulty. If it falls people will stop mining eventually. The estimate starts with the current Mining Factor and decreases it exponentially such that the decrease accounts for the factor decline per year. Please note that a profit/loss by holding the coins is not accounted for in this estimate.
Time Frame BTC Reward Revenue USD* Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00003275 $0.61 $0.16 $0.00 $0.45 Daily 0.00078595 $14.73 $3.90 $0.00 $10.83 Weekly 0.00550162 $103.14 $27.30 $0.00 $75.84 Monthly 0.0236 $442.03 $117.00 $0.00 $325.03 Annually 0.2869 $5,377.99 $1,423.50 $0.00 $3,954.49.
* Bitcoin Price at $18,747.10 USD.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Difficulty Bitcoin Block Reward Bitcoin Price 17,596,801,059,571.00 6.25 BTC $18,747.10 (BTC to USD) Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hashrate Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Watts Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Cost Electricity Costs 110.00 TH/s 3,250 Watts $2,407.00 $0.05 per kWh.
A BTC mining difficulty of 17,596,801,059,571.00, a BTC mining hashrate of 110.00 TH/s consuming 3,250 watts of power at $0.05 per kWh, and a block reward of 6.25 BTC at $18,747.10 (BTC to USD).
Disclosure: The Profit Details are the result of a chosen budget of $ 10,000.00 to purchase Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) servers that are hashing 76 TH/s at a price of $ 25 per terahash. This assumes a total hashrate of 400.00 . The Profit Details also take in consideration the current network hash rate of 1.7596801059571E13 and current BTC/USD exchange rate of 1 BTC = $ 18,755.99 . These figures vary based on the total network hash rate and on the BTC to USD conversion rate. Block reward is fixed at 6.25 BTC. The Profit Details do not take into account any future changes in block rewards, hashrate and difficulty rate. All inputs in this calculator vary over time. The profit details is based on current values only and should be used as a guide only.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:29 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:30 am
I already wrote about Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware, where I listed the top 5 GPUs and CPUs that can be used for mining. This time, we're going to do some Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) hardware comparison.
In this article, I've compared the best GPUs based on their hashing power, price and power costs. I hope you'll find the table below helpful when choosing the best GPUs for your own mining operation.
Why are the hashing power, power consumption and GPU price so important?
Hashing Power is how we measure the GPU(and other hardware) performance when it comes to cryptocurrency mining. It is measured in hashes per second(H/s), and the more hashes your hardware can generate- the better. In other words, the more hashing power your hardware has, the more cryptocurrency and Bitcoin you can earn.
The hashing power is sometimes calculated differently for different coins and mining algorithms, however in most cases the newer graphics cards with higher VRAM(video memory) and speed are going to perform better and earn you more cryptocurrency and Bitcoin.
Power Consumption is the second most important parameter, and in countries with high electricity costs it can be the most important one. In a nutshell, the GPU power consumption measures how much electricity your GPU spends.
If you have a free or nearly free electricity cost(alternative energy, social program or countries with lowest electricity price), then you don't need to care much about it. But if on other hand you have high electricity costs, that means you need to aim for hardware with least power consumption, and in some cases mining may even turn unprofitable for you.
Hardware Price.
Hardware Price should be pretty self explanatory, still I'll explain it here in case you're a newbie. It boils down to a price you pay to buy a GPU or other hardware, and the less you pay for it the better. However, there are a few things to consider when doing so:
Bitcoin and crypto mining is resource intensive. This is why you should never buy a hardware without the warranty. And the warranty length is a factor to consider. Basically, don't buy a hardware that has a warranty shorter than the time you need to pay off your hardware with mining.
Besides that, the hashing power plays a huge role and has to be considered when comparing the hardware prices. If two GPUs cost the same, you should pick the one that has higher hashing power. And if one GPU costs twice as the other, but makes 3x more hashes, that's the one that you should consider.
Bitcoin Graphics Card Comparison 2020(updated on 8/10/2020)
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Comparision(current Bitcoin price of $11,984) GPU GPU Earnings/day(zero electricity cost) GPU Earnings/day($0.05/kWh electricity cost) GPU Earnings/day($0.10/kWh electricity cost) GPU Price(cheapest I found for used or new for newest models) AMD Radeon R9 380 $0.76 $0.58 $0.40 $60 AMD Radeon R9 FURY $1.26 $0.90 $0.55 $60 Radeon™ RX 470 $1.04 $0.90 $0.76 $70 Radeon™ RX 480 $1.18 $1.01 $0.85 $80 Radeon™ RX 570 $1.12 $0.97 $0.83 $80 Radeon™ RX 580 $1.21 $1.05 $0.90 $90 Radeon™ RX Vega 56 $1.64 $1.36 $1.09 $330 Radeon™ RX Vega 64 $1.75 $1.45 $1.15 $350 GeForce GTX 1050 Ti $0.52 $0.42 $0.33 $120 GeForce GTX 1060 $0.90 $0.79 $0.69 $110 GeForce GTX 1070 $1.20 $1.05 $0.89 $150 GeForce GTX 1070ti $1.22 $1.07 $0.91 $300 GeForce GTX 1080 $1.38 $1.18 $0.98 $350 GeForce GTX 1080ti $1.82 $1.61 $1.40 $390 GeForce RTX 2060 $1.34 $1.18 $1.03 $410 GeForce RTX 2070 $1.57 $1.40 $1.24 $490 GeForce RTX 2080 $1.97 $1.74 $1.52 $700 GeForce RTX 2080 Ti $2.35 $2.08 $1.82 $1200 Radeon™ RX 5700 $2.05 $1.87 $1.69 $420 Radeon™ RX 5700 XT $2.07 $1.89 $1.71 $450 AMD Radeon™ Pro VII $3.14 $2.88 $2.63 $1900 GeForce GTX 1660 $0.88 $0.76 $0.64 $215 GeForce GTX 1660 Ti $1.07 $0.98 $0.88 $270.
Bitcoin Graphics Card Comparison 2019.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Comparision(current Bitcoin price of $3,860) GPU GPU Earnings/day(zero electricity cost) GPU Earnings/day($0.05/kWh electricity cost) GPU Earnings/day($0.10/kWh electricity cost) GPU Price(cheapest I found for used or new for newest models) AMD Radeon R9 380 $0.25 $0.08 -$0.10 $80 AMD Radeon R9 FURY $0.27 -$0.06 -$0.31 $250 Radeon™ RX 470 $0.33 $0.19 $0.04 $100 Radeon™ RX 480 $0.37 $0.21 $0.05 $120 Radeon™ RX 570 $0.35 $0.21 $0.06 $130 Radeon™ RX 580 $0.38 $0.22 $0.06 $140 Radeon™ RX Vega 56 $0.50 $0.26 $0.02 $330 Radeon™ RX Vega 64 $0.52 $0.20 -$0.13 $350 GeForce GTX 1050 Ti $0.18 $0.09 $0.00 $110 GeForce GTX 1060 $0.28 $0.18 $0.07 $175 GeForce GTX 1070 $0.46 $0.31 $0.15 $260 GeForce GTX 1070ti $0.54 $0.38 $0.22 $350 GeForce GTX 1080 $0.63 $0.45 $0.27 $390 GeForce GTX 1080ti $0.79 $0.56 $0.33 $470 GeForce RTX 2060 $0.71 $0.55 $0.40 $410 GeForce RTX 2070 $0.71 $0.53 $0.35 $530 GeForce RTX 2080 $0.90 $0.67 $0.43 $790 GeForce RTX 2080 Ti $1.10 $0.83 $0.57 $1700.
Bitcoin mining (https://secure.iqmining.com/tiny/e8NNw) Hardware Conclusion.
The table above should make your decision easier as it immediately brings some helpful info:
If you don't need to invest into GPU(s) and/or electricity costs in your country are cheap- definitely try mining Bitcoin and other cryptocurrency. If your electricity costs are close to zero, you can try with any GPU, and even cheapest AMD GPUs will be profitable for you. If your electricity costs are cheap, you can try with any GPU, except cheapest AMD cards which have high power consumption. If you're electricity costs aren't cheap, then your best bet are the nVidia(GTX) cards from a higher range.
Mining hardware comparison.
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Mining hardware comparison is an article shows different hardware devices.
Technical part [ edit ]
ASIC (application-specific integrated) is an integrated circuit specialized for solving a specific problem. In contrast to General-purpose integrated circuits, specialized integrated circuits are used in a particular device and perform strictly limited functions specific to that device only; consequently, the execution of functions is faster and, ultimately, cheaper.
An example of ASIC may be a circuit designed exclusively for the control of a mobile phone chip hardware for encoding/decoding audio and video signals (signal processors).
Chip ASIC has a narrow range of applications, due to the rigidly predetermined set of its functions.
Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:31 am

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Title: Re: Bitcoin mining.
Post by: Bitcoin on Feb 15, 2021, 10:32 am
Modern ASIC often contain a 32-bit processor, memory blocks (ROM and RAM) and other large blocks. Such ASICS are often referred to as" system on chip " (System-on-a-Chip).
When developing digital ASICs, hardware device description languages (HDLs) such as Verilog and VHDL are used to describe their functionality.
Reviews of ASIC mining hardware for 2017-2018 Consider the most powerful and popular models:
Antminer S9 with 13.5 Th / s.
HashRate: 13.5 TH / s ±5%; Power consumption: 1350W; Energy efficiency: 0.1 J/ GH; Voltage: 11.60.
13.00 V; Processor: 189x BM1387; Dimensions: 350mm(L)*135mm(W)*158mm(H); Cooling: 2x fan 12038; Operating temperature: 25 °C to 40 °C; Ethernet connection;
Antminer R4.
Hashrate: 8.6 TX / s (can vary in 5% range); Power Consumption: 845 W; Energy Efficiency: 0.1 J/GH; Noise level: 52db (at an ambient temperature of 35°C); Processor: BM1387; Number of processors: 126; Voltage 11.60.
13.00 V; Dimensions: 515mm (length) x 100mm (width) x 222mm (height); Ethernet connection;
Hash Rate: 4.73 TH / s ±5%; Power consumption: 1293W; Energy efficiency: 0.25 J/ GH; Voltage: 11.60.
13.00 V; Processor: 135x BM1385; Dimensions: 301mm (L)*123mm(W)*155mm(H); Cooling: 2x fan 12038; Operating temperature: 0 °C to 40 °C; Ethernet connection;
Avalon 6.
Hash rate: 3.65 TH/s Energy efficiency: 270 j / th*s; Input voltage: not less than 11.6 V; OS of the controller: from Avalon; Dimensions: 354 mm x 136 mm x 150 mm; Cooling system: cooler 12038 with 3800 rpm; Network controller: Raspberry Pi (version B or B+); External power supply required; Rated power: 990w; Max power: 1200W;
Antminer S5.
Hasrat: TH 1155/s ; Processor: BM1384; Ethernet network; Cooling: 1 model 12038 fan + 2 radiators on the working boards of the device; Power Consumption: 590 W; Energy efficiency: 0.51 j/gh; Temperature: 0-35°C;