Is Bitcoin Too Expensive To Buy ? Mine Them Instead
Bitcoins with minimal investments and faster ROI and what risks am Itaking? Bitcoin prices has been sky rocketing and all the cryptocurrencies are following the lead. There are 2 ways to get bitcoins We buy and trade the bitcoin in the exchange like Coinbase , Gemini etc What is Bitcoin mining? you can read here . I took the mining approach for getting bitcoins and I will tell you my story. I was showing lot of interest in mining bitcoins. I was trying to seek the machine to mine bitcoins. The most powerful machine on market today that can mine bitcoin is Antminer s9 with gives hashrate from 11.5TH/s 14TH/s with the power consumption of 1127W 1372W. This machine (Original Cost: $1415) is in high demand and almost sold out from manufacturer, every other shop you can possibly find and where ever it still available its madly priced ( $4800 $6000) and the prices of these machines are going up as bitcoin prices are going up. Approximately it can make 0.81.1 BTC / Year ($16K $18K) which is again based on the current difficulty of SHA 256 which is increasing as more coins are being mined. The cons of doing this you need atleast $6000 ready to start this kind of investment and you have to live with extreme noise and heat this machine is going to generate. I am a small investor and I dont want to invest huge dollars and more importantly bear with the noise/heat and loose my sleep over it, So what to do now? I looked upon is cloud mining (which is something like AWS analogy to regular data center) which means some body else will mine for you and you buy the hash rate you wish to buy, which translates I dont have to invest a whole lot and more importantly I dont have to deal with the noise/heat. Hashflare is the one of the cloud miners who sell their has rate as a year contract s Continue reading >>
Bitcoin Mining For Dummies
How Can You Make Money in Bitcoin Mining? Bitcoin mining is the validation of transactions that take place on each Bitcoin block. The decentralized nature of Bitcoin means that transactions are broadcasted to the peer-to-peer network and once broadcasted, needs to be verified, confirming that the transaction is valid and then having the transaction recorded on the public transaction database, which is known as the Bitcoin blockchain . Miners basically are the people involved in the processing and verifying transactions before then recording the transactions on the Bitcoin blockchain. Miners will then receive transaction fees in the form of newly created Bitcoins. So, whats involved in the actual mining process? Computers are used to include new transactions onto the Bitcoin exchange and while computers will find it relatively easy to complete the verification process, the process becomes more difficult as computer capability becomes more sophisticated with faster processing speeds. Attempting to get Bitcoin users from around the world to agree on a single version of the transaction is the challenge and it comes down to what is referred to as proof of work. Bitcoin protocol requires those looking to include additional blocks of transactions on the Bitcoin blockchain to provide proof that the user expended a scarce resource, in the case of mining being the processing power of the computers used for the verification process. Miners compete with everyone on the peer-to-peer network to earn Bitcoins. The faster the processing power, the more attempts are made by the hardware to attempt to complete the verification, and thereforeearning the miner the Bitcoins that are highly sought after along with transaction fees. The Bitcoin network is self-evolving, to ensure that the ti Continue reading >>
What Are The Best Sites For Bitcoin Cloud Mining?
Answered Mar 16, 2018 Author has 125 answers and 30.2k answer views After too much research on Bitcoin cloud mining provider then I found HashGains which is fast growing cryptocurrency mining firm in crypto world. They offers many services like Bitcoin, Ethereum, Litecoin, Monero, Dash etc at very reasonabe price. Cloud Mining is the procedure of bitcoin mining utilizing a remote data center with shared processing power. Bitcoin cloud mining contracts are usually sold for bitcoins on a per hash basis for a particular period of time. Why Choose Bitcoin Cloud Mining from HashGains:- HashGains is the best cloud mining firm for all cryptocurrencies and using distributed systems on their centralized systems. There are many advantages of distributed system on centralized system, such as scalability and redundancy. HashGains also offers ICO or Initial Coin Offering in order to establish green data centres in Rajasthan (India) and Quebec (Canada). HashGains is going to built use of sustainable energy resources to create a green mining infrastructure. Answered Dec 9, 2017 Author has 309 answers and 152.2k answer views The best paying Site that is a real Company is HashFlare right now . Right now with 140$ invested(bought whilst the promo last week with 6%OFF) and am about to make 844$ back in 1 year if BTC stays at the price it is right now. I have been using it for over a year now and they are in the business for almost 4 years now. They might offer LiteCoin Mining soon aswell , thats what i am really looking for. If you are smart you start now with SHA256(Bitcoin algorythm) and reinvest as soon as the LTC mining contracts start. Another nice site is EObot , because you can mine over 20 Different Coins with only 1 Miningpower and can switch between the most profitable ones wit Continue reading >>
So You Want To Mine Bitcoin For Profit? Heres What You Need Toknow.
So you want to mine bitcoin for profit? Heres what you need toknow. So you heard about bitcoin mining and you want to earn some money? Here Ill break down how this will play out for you today. Mining difficulty is how your payout is calculated and works like this. Every 2 weeks the network adjusts the difficulty by calculating how much hash power was used to mine bitcoins over that 2 week time span and the more hashpower that gets added to the network the higher the difficulty goes. So lets look at how that plays out for the miners. John spends $2,459 on an Antminer S9 and $200 on a PSU. This gives him a hashrate of 13.5 TH/s. His expenses are electricity at $0.12 KW/h and his equipment consumes roughly 1375 Watts constantly. He doesnt consider the time he will spend maintaining this mining equipment or the bandwidth it uses as an expense. He mines bitcoin from September 30th 2017 to October 14th 2017 and over this time the electricity he uses costs him roughly $55.44, while he earns roughly 0.0029 BTC every 24 hours. The total amount of money John has spent (so far) is $2,659 (hell get his electricity bill for this usage later). Over this 2 week time span bitcoin fluctuates between $4,151.11 all the way up to $5,741.42 and he has earned himself 0.0406 BTC. Now Oct 15th has come and the difficulty has increased by roughly 6.22% decreasing Johns mining profits by 6.22% and the cycle repeats. So in a way what John has essentially done in this example is bet that he will get more bitcoins by mining than he would have gotten if he just bought $2,659 worth of bitcoin during that 2 week time span then bought $55.44 worth of addition bitcoin every month till the date he would have stopped mining. At the best BTC price during the first 2 weeks he would have gotten roughly 0.64 Continue reading >>
Everything You Need To Know About Bitcoin Mining
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 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. Bitcoin mining 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. Visualize and Download High-Resolution Infographic Bitcoin mining 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. This both serves the purpose of disseminating new coins in a decentralized manner as we Continue reading >>
How To Mine Bitcoin Cash? Beginners Guide
How to Mine Bitcoin Cash? Beginners Guide How to mine Bitcoin Cash, is mining Bitcoin Cash profitable, bitcoin cash mining pools, bitcoin cash cloud mining, software for Bitcoin Cash mining, hardware for Bitcoin Cash mining How to mine Bitcoin Cash, is mining Bitcoin Cash profitable, bitcoin cash mining pools, bitcoin cash cloud mining, software for Bitcoin Cash mining, hardware for Bitcoin Cash mining How to Mine Bitcoin Cash? Beginners Guide How to Mine Bitcoin Cash? Beginners Guide If youre a firm believer in Bitcoin Cash, there is a way for you to support the network and earn some BCH at the same time mining. Essentially, its a process of solving complex mathematical puzzles. Miners are the most important part of every cryptocurrency community, as they not only mark transactions as legitimate, theyre also responsible for putting new tokens into circulations. Miners receive substantial rewards for successfully mining a block of transactions. In the Bitcoin Cash network, the reward currently stands at 12.5 BCH per block + all the transaction fees within said block. In 2018, in order to make significant profits on Bitcoin Cash mining, you will need to invest some money into specialized mining equipment first. But before you do so, you can find out roughly how much your profits will add up to using this profitability calculator . In order to use this calculator, you will need to find out your hash rate, which is the speed at which your computer and the equipment youre planning to invest in can compute the output of a hash function. The bigger it is, the more chances you will have of successfully mining a block. This calculator can help you find out your computers hash rate, while this one will take the hardware youre using as well as your local electricity costs into c Continue reading >>
Bitcoin Cloud Mining
We are periodically providing information about the most profitable Bitcoin cloud mining services based on our real contracts with the providers seen in the table above. The most important indicators in our opinion are: Daily return on investment (%) and Days to ROI. Both can be viewed in our weekly updated ranking tables above. Make sure to check out our reviews before you invest in new hash power. Also, dont hesitate to share proactive your own experience with the crypto community. Hosted Mining You send your mining machine to a Firm, which provides electricity, cooling and configurations. It is also possible, that you lease yourself a mining machine. Buying Hashing Power The most popular method of cloud mining You buy an amount of hashing power (Hash Rate). Which means, that you dont need to own a physical or virtual mining machine (computer). The pros of the one are the cons of the other and vice verse. Now let us analyze both the Hosted Mining and the Buying Hashing Power types of Bitcoin cloud mining. Starting with the pros of hosted mining: Less Scammy if you decide to get an hosted bitcoin mining contract, than you need to check if the provider is a registered venture. If this is the case, you have high certainly, that you wont get scammed. Here is a list of hashing power cloud mining scam or terminated contracts. Higher investment and monthly cost you not only buy the mining machine but need to calculate your costs of maintaining it, which vary depending on the energy use of the Bitcoin miner. Harder to Monitor the success can be monitored only partly. Check out our tables above (so called monitor tables) to see the most profitable ones out there! The pros of the Hosted Mining are the cons of the Buying-Hashing-Power model and vice verse. Take a look on the be Continue reading >>
Largest Cloud Bitcoin Mining Company | Genesis Mining
You can mine any cryptocurrency available in our catalogue! Switch your mining power on the fly for all the coins using our bitcoin mining website You will get daily payouts of your investment to your designated wallet. Try our bitcoin mining platform now! Genesis Mining is one of the leading cloudmining companies and a trustworthy partner of ours. It's good to see that they are an honest cloudmining service which shows their farms openly to the public. Leading Bitcoin Asic Manufacturing Company Genesis Mining is one of our biggest clients and proven to be a reliable and trustworthy business partner. Their transparent mining sites and high quality software infrastructure together with our high end mining hardware result in a great and unique product and experience for everybody interested in mining! Leading Scrypt Asic Manufacturing Company As the world first 28nm BTC and LTC chip maker, Innosilicon selects Genesis Ming as partner in cloud mining industry business for its integrity, excellent customer oriented service and great user interface design. Genesis Mining is the best in class mining service that is supported by our technologically superior mining hardware. This unique synergy produces the best experience for those interested in mining and we look forward to having a long and prosperous relationship. MinerEU is very happy to have Genesis Mining as our trustworthy partner. We have already recommended Genesis-Mining to thousands of our existing customers who are happy and satisfied with their excellent services and products. Official Distribution Partner of Genesis Mining Continue reading >>
Bitcoin Cloud Mining: Hot Or Not? - Bitcoin Australia
As Bitcoin continues to soar to new all-time highs, global awareness surrounding cryptocurrencies has exploded. Particularly for newcomers, the idea of mining Bitcoin can sound very attractive at first. After a little research, however, the realities of needing special mining equipment, electricity costs, and technical know-how can be discouraging to many would-be miners. Cloud mining offers a tempting alternative, allowing people to participate in Bitcoin mining without the burdens of buying equipment, setting it up, and managing the necessary hardware and software. Cloud mining, sometimes also called cloud hashing, is a way to mine Bitcoin or other cryptocurrencies remotely, in the cloud, using shared processing power. Companies effectively let anyone rent mining power from their hardware, which is stored in remote datacentres. There are several potential advantages to mining in the cloud. If, for example, you live in a part of the world where electricity costs are very high, it might make sense to outsource your mining to a place where electricity is cheaper. For those who want to mine but dont have the desire or resources to invest in mining equipment and deal with issues like overheating, technical troubleshooting, and upgrading hardware and software, outsourcing can be an attractive option. If youre interested in mining Bitcoin, profitability is likely a major factor. A lot of people regret missing out on the early days of Bitcoin mining when anybody could mine from home using a regular computer. Cloud mining, as a concept, can sound like a very promising solution. The reality, however, may fail to meet expectations. While there are circumstances where mining remotely can be a worthwhile option, it is definitely not guaranteed to be profitable. To get started wit Continue reading >>
Which Online Bitcoin Cloud Mining Is Best/safe To Use?
Which online Bitcoin cloud mining is best/safe to use? The World of Bitcoin Cloud Mining is full of Scams. There are companies like Terabox . me who are ready to rip you apart. So , only buy Bitcoin Cloud Mining Contract from reputed companies. Genesis-mining ( Use code mNpFUG for 3% discount) The most popular and biggest mining company. You can buy hashrates for Bitcoins, Ethereum and Monero mining. Hashflare.io is very popular and offer the best rates in the industry. You can mine based on Hash algorithms SHA 256, Scrypt , ET-HASH (Ethereum), X-11(DASH) and EquiHASH (ZEC). Hashing24 is a trusted website where you can mine bitcoins. They also offer a free demo which you can try if you are unsure about which contract to choose. NiceHash , the most advanced crypto currency cloud mining, hash rental service and multipool. They offer you to buy or sell hashing power without contracts on pay-as-you-go basis Hey, this is one of these questions that get asked all the time. Here i will give you my own thoughts about it. And the first one is: Indeed it is profitable to do cloud mining. Join hashflare if you want to get into cloud mining today! Cloud Mining is profitable. I do invest into cloud mining for about 1 1/2 years now. Mainly i use Hashflare as my mining income, be sure to check them out. They generate me about $80/day and ive only invested $4,500. You wont have to put in that much tho. Hashflare is giving you a one year contract with any investment you make, that means any money you invest will bring you profits for 1 year. Any money will do fine, here is some example math: They charge $1,50 for 10 GH/s in SHA-256: You can still reinvest all of that money on hashflare. That will make you more money and extend the mining contract for another year for the specific inves Continue reading >>
I Bet My Bitcoin Like A Gambler, And It Made Me Scared For The Future
I Bet My Bitcoin Like a Gambler, and It Made Me Scared for the Future I haphazardly dove into the world of bitcoin cloud mining to see if I could grind a profit. Image:Shutterstock / Remix:Jason Koebler I bought a little under one bitcoin (about 0.85 BTC) cheap, once; cheap by todays standards, anyway. It cost around $400 USD, from what I remember. For two years it sat in a wallet as I waited for my big paydaythe day when Bitcoins price hits however many hundreds of thousands it will take to not see John McAfee eat his dick and I could cash out. As I waited, I thought about how people were investing in that days most important cryptocurrency, which was once the butt of dismissive jokes about libertarianism . Seemingly everyone who didnt invest earlier was now just trying to make a quick return on a pricey investment before entirely exiting their position. More logical, I thought, was to put money into something thatd return gradually, avoiding crashes and still pocketing bitcoins that could be sold at the most opportune time. I wanted in, but not in a way that meant that I was going to be constantly buffeted by Bitcoins volatility. With my one bitcoin just sitting there, I decided to run an experiment. After taking a (legally-prescribed) Concerta and muttering, Its time for some game theory, I was reminded of playing a game of Craps. At a typical Craps table, there are those who bet on the six, eight and the pass line (with odds) and hope to not seven out. There are those who put lower amounts on the hard waystwo twos, threes, fours or fiveshoping that a soft version of four, six, eight, or 10 wont roll, or indeed a seven. So I wondered, what if I tried playing with Bitcoin like Id play at a Craps table? Id bring a bankroll, Id find a strategy that let me grind away an Continue reading >>
Best Cloud Mining Providers Of 2018
Explore the best cloud-based outfits for earning your cryptocurrency Cloud mining is the process of buying CPU power from dedicated data centers who use their own equipment to mine cryptocurrencies such as Bitcoin (BTC) on your behalf. The main advantage of this approach is that you don't need to have in-depth knowledge of mining hardware, nor buy expensive and hard-to-obtain devices. Renting 'hash power' (usually measured in Gigahertz per second or GH/s) also means you don't have to deal with the heat and noise that comes with a DIY mining project. Many of these companies either source their own equipment or build it cheaply and have placed their data centers in countries like Iceland and China where electricity is cheap, passing the savings on to you. In this guide, we will explore five of the most reputable cloud mining companies. As there are many scam outfits posing as miners, where possible we've chosen cloud miners who can prove that their data centers exist or are endorsed by a reputable firm. Take some time to do your own research before investing at your own risk, of course ultimately this is your money. If you are interested in cryptocurrencies but don't feel happy with the idea of mining, you can also simply purchase Bitcoin as an investment (see our guide on how to buy Bitcoins with Bitstamp ). Without further ado, lets move on to our selections for the best cloud mining providers. A well-established and highly popular cloud mining firm Well-established with verifiable data centers Mining contracts for many cryptocurrencies As one of the oldest (it dates back to 2013) and largest cloud mining centers, there seems to be no better place to begin than with Genesis. Its website offers a live feed of some of the data centers which are based in Iceland, a countr Continue reading >>
How To Get Started With Bitcoin Mining.
Before you read further, please understand that most bitcoin users don't mine! But if you do then this Bitcoin miner is probably the best deal. Bitcoin mining for profit is very competitive and volatility in the Bitcoin price makes it difficult to realize monetary gains without also speculating on the price. Mining makes sense if you plan to do it for fun, to learn or to support the security of Bitcoin and do not care if you make a profit. If you have access to large amounts of cheap electricity and the ability to manage a large installation and business, you can mine for a profit. If you want to get bitcoins based on a fixed amount of mining power, but you don't want to run the actual hardware yourself, you can purchase a mining contract. Another tool many people like to buy is a Bitcoin debit card which enables people to load a debit card with funds via bitcoins. Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants. During mining, your Bitcoin mining hardware runs a cryptographic hashing function (two rounds of SHA256) on what is called a block header . For each new hash that is tried, the mining software will use a diff Continue reading >>
How To Mine Bitcoins Using An Aws Ec2 Instance
How to mine bitcoins using an AWS EC2 instance With all the talk about the Segwit2x fork (that has now been postponed), I decided to get my feet wet in mining cryptocurrencies. Initially, I chose to mine ether, then Monero coins on Ubuntu 16.04 servers using their accelerated computing instances, but my curiosity got the best of me and I started wondering what it would take to mine actual bitcoins. Every forum and blog I searched advised against even trying. So much so, that I couldnt find any recent tutorials on GPU mining for bitcoin. I took it as an opportunity to create one myself. Note: folks have it correct. Bitcoin mining on the cloud without an ASIC miner does not yield any profit. Still, its a fun experiment. First things, first: sign up for a free account at Amazon Web Services . AWS offers virtual machines, storage, and a host of other services in some cases, for free during your initial 12-month trial. Warning: Account verification can take up to 24 hours. Once your in, navigate to the home page and select EC2. The dashboard gives you access to anything and everything youd ever need concerning launching and maintaining your VM. Including security. Lets deal with that next. On the left-side menu, at the bottom, under the submenu Network & Security, select security groups, then click on the bright blue Create Security group button in the top nav. Give the group a name and a description, and keep the VPC to the default setting. Below that, youll see a tabbed panel asking you to create some access rules for the group. Dont worry about that. Well keep with the default settings here, too. Were mostly concerned with Inbound Rules, so select the Inbound Tab and click Add Rule. For the SSH Rule, youll want to select My IP under source, and the input area will popula Continue reading >>
Bitcoin Mining - What Is It And Is It Profitable In 2018? A Beginner's Guide
Last updated on November 24th, 2017 at 08:12 am Before we start, if youre new to Bitcoin mining and dont know what it is watch this short and simple explanation: The short answer would be It depends on how much youre willing to spend. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors mining profitability calculators were invented. These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a short example of how this is calculated lets make sure you are familiar with the different variables: Bitcoin Mining terms you should get to know Hash Rate A Hash is the mathematical problem the miners computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is. The Hash Rate can also refer to your miners performance. Today Bitcoin miners (those super powerful computers talked about in the video) come with different Hash Rates. Miners performance is measured in MH/s (Mega hashper second), GH/s (Giga hash per second), TH/s (Terra hashper second) and even PH/s (Peta hashper second). Bitcoins per Block Each time a mathematical problem is solved, a constant amount of Bitcoins are created.The number ofBitcoinsgenerated per block starts at 50 and is halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 12.5. The last block halving occurred on July 2016 and the next one will be in 2020. Bitcoin Difficulty Since the Bitcoin network i Continue reading >>