Topic: ✅ Cloud mining by ECOS - page 20. (Read 14613 times)

I know that mining farms are located in the highlands where there are hydro-electric stations. The cost of electricity is minimal there.

I have not heard of such information. Maybe you share a link to this resource so that I read the whole article?

I heard that a large mining farm burned out in China - equipment was destroyed by $ 10 million. Against this background, the Bitcoin network hashrate plummeted by 5%.

Live chat is very cool, maybe you mean something like AMA where we can ask questions for team members?

ECOS is ready to answer all your questions!

☑️This Wednesday, on October 02 at 1 pm UTC time (4 pm of Moscow time) ECOS team is ready to answer any of your questions!

☑️We will have a live stream to answer all your questions!😊
 
The link to our YouTube channel!

Join us on Wednesday and let’s have a live chat!

Yes, Bitcoin makes the weather for the whole crypto world. I thought that we would fall below 7k, in the end now I’m not sure about it. Most likely from this level will grow.

How to find mining hardware?
⠀
A few days ago, Chinese crypto mining hardware giant Bitmain announced platform for connecting miners and farms. So, mining sector is developing rapidly. And now for being successful in this area you just need to buy efficient equipment. How to do it?
⠀
Advice #1 Calculate costs
⠀
Even if you have already found a good ASIC miner, analyze its energy consumption and efficiency. In the las year Japanese company GMO released a new model of its hardware – B3. The ASIC price is about $2000. According to GMO, you can adjust the hash rate power optimally and the level of energy consumption as well. We remember that hash rate it is unit of measurement for the determining the processing power of equipment.
By the way, it has maximum hash power of 33 Th/s and its maximum level of energy consumption is about 3417 watts. This equipment can mine $2,19 of cryptocurrency per day. That means, it will become profitable in 2,5 years.
⠀
Advice #2 Save your money
⠀
If you want to understand, how cryptocurrency mining works, you can buy cheap hardware. For example, it may be Bittech One Mini, which price starts from $880. Its hash rate is 16 Th/s/ The equipment consumes 1150 watts of energy. The purchase will bring the profit in 2 years and a few months.
⠀
Advice #3 Analyze different options
⠀
Your choice will depend on your budget. You can buy A9 ZMaster by Innosilicon. Its price is about $10000. The company guarantees the lowest level of energy consumption. This ASIC mines $142 of coins per day. Otherwise, it was designed mostly for ZCach mining, which is price is about $37,16. Although, it has failed to 3,55% in last 24 hours. This information was published in Coinmarketcap.
⠀
First, decide, which coin you want to mine, then define the amount of investment. If you can do it, you will find good mining hardware without any problems!

You are right. The main thing that China has huge  capacity which is capable of building the most powerful mining farm in the world.

But is China today not a leader in terms of capacity? And yes, if I'm not mistaken, the mining farms is still in China. Or am I missing something?

They are doing everything right. Without marketing, there will be no chance of success. If the power of mining equipment is growing, then the company is doing well.

Thank you for the detailed answer. Now it is more clear. I fear that Bitcoin will fall even lower. Of course, this fall is temporary, and we will soon return to 10k again.

What is going on with Bitcoin?

The exchange rate of one of the most popular cryptocurrencies has failed to 3,59% in last 24 hours.
Now its price is $8131,14, according to Coinmarketcap. What does it mean for the market?

To answer this question, we need to learn expert studies about it.

According to Digital Asset Research, Bitcoin’s price will hit $60,595 by May 2020. It will be worth 7 times its current value. In this case, market capitalization of the coin will be about $1,25 trillion.

Experts say, that one of the key factors, which will influence on the cost, is Bitcoin’s block reward halving. They explain, that in 2020 the reward for mining blocks will cut in half. So, Bitcoin will rise.

The history of the cryptocurrency normally repeats itself.

 First time in 2012 the reward was cut in half. A year later the Bitcoin price increased 407 times!
A little notice about the reward, its ammount halves every four year.

 In Digital Asset Research they notice the tendency to peak every third of the way through each halving reward cycle.  If the forecast is wright, the Bitcoin price will reach $60,595.

Otherwise, the forecast is modest in comparison to other predictions. For example, American venture capital investor Tim Draper expects, that by 2022 the cost of Satoshi Nakomoto’s coin will hit $250,000. And it will have about 5% market share of the world of currency. The billionaire comments, that now Bitcoin faces complexities, which are related with accepting it.

It is the reason, why consumers still prefer to pay with well-established monetary instruments. Although, in the long-term people will choose digital coins. The traditional capital is closely connected with the political influence; the investor explains.

Also, Tim Draper mentions, that people would use Bitcoin for its decentralized ecosystem. Probably it could work in US. Moreover, the investor has high hopes for Argentina, where plenty of entrepreneurs lose their fortune in local fiat currency market due to manipulation and devaluation. Meanwhile, billionaire believes, that the digital market does not have such kind of problems.

So, what is going on with Bitcoin?  It is expecting to grow. And now is the best time to invest in the cryptocurrency, isn’t it?

I think that Mongolia will be extremely pleased with such an influx of capital into the country))

This is because bitcoin has the highest capitalization and all coins inevitably correlate with bitcoin in both directions.

China is a very strange country: today they forbid cryptocurrency,  but tomorrow, they are already building huge mining farms.

Hello. China wants to eliminate the cryptocurrency mining in the country. It always used to be home for the world's largest cryptocurrency mining farms due to cheap electricity. But now the government has decided to clear the mining business all over the country and started with Mongolia.
The new regulation may impact not only the mining farms but also the mining equipment manufacturers, which may cause deficit in mining facilities and mining equipment in the market. So our advise is to start mining now until the deficit arised and mining contract prices increased. A cloud mining service called ECOS is the best solution for you as its mining farm is situated in the Free Economic Zone in Armenia with low electricity rates and high profitabiity indicators. So you can join the platform right now and get ready for the bullrun. Stay with us!

WATCH

I agree. Can repeat the situation last year or something similar perhaps not with such a large fall. Again, all attention will be turned to bitcoin.