Topic: What is mining and how do you do it? (Read 1352 times)
I believe you have got your answer from other posts. One important thing to be aware of is cryptojacking software, which runs a script on your machine and uses your processing power to mine cryptos.
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.
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.
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.
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.
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. I do not think that mining is very feasible unless the electricity cost are low wherever you are farming at. Nonetheless, good luck in your venture.
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Since big companies are investing on it
Mining is any more not profitable for individuals
you will lose your time
I disagree completely. You can mine ASIC resistant coins with your GPU. Let's assume you already have gaming computer. At times when you are not using it for gaming you can mine any number of coins - BTC, Monero ... and make money. Now you won't make much but you will most certainly make more than you spend in electricity. My estimate is that you can make back the cost of your GPU in 7-8 months or so,
The real purpose of this is not to gather riches but to have a more indepth feel of how this crypto world works. You can invest in more GPUs now you've created a second job, your apartment will be noisy, not look as good (see images of rig porn) and your girl friend / wife will not be happy.
If You have a serious mining farm, then of course there are large pools, but if You want to make on your computer with 2 graphics cards, then services such as Micromining (min. payout 0.001 BTC) and Computta (min.payout 0.01 BTC) You will be very useful.
I earn http://micromining.cloud?r=1NkPrD1P2hFBWRhTWpNT8X4iLYf9DCou6n here
without any skills. Just computer work and collect Satoshi. If the weak comp in the application you can disable one GPU and you will not even notice his work.
without any skills. Just computer work and collect Satoshi. If the weak comp in the application you can disable one GPU and you will not even notice his work.
If you want to mine with hardware you already own you should look into asics resistant altcoins. If you have relatively cheap electricity (under 7 or 8 cents) you may be able to mine bitcoins with a small profit (after you pay for your hardware of course). I'd suggest doing a lot more of your own research to find out what would make the most for you.
You absolutely shouldn't mine with your hardware. Even with free electricity it is completely USELESS. your CPU will break in no-time and it will make you a couple cents, if you're lucky.Exactly, you will make few satoshi per day, you need to buy specialized hardware which will be used for only mining bitcoin. It will cost you lot of money and electricity consuming will also be very high, up to two are three you have to pay for electricity from your pocket. Right now bitcoin difficulty arises so you will get less amount of coin.But if you mine with your computer definitely it will damage your entire hardware.
not profitable at all, better way of making bitcoins can be to buying at cheaper price and selling at higher prices. even the bigger players face many difficulties in bitcoin mining.
I Tried Cloud Mining 1 Year From Now and On that time I Got Some Profit By Just Investing Money And I Don't Need to Maintain the Hardware to do Mining But Now a Days I Don't Suggest you Anyone to Do Mining Because Now a Days Mining is Not Profitable Because the Halving Passed Last Year Made the Mining Unprofitable.........
Cloud mining is a good start to understand how Bitcoin mining works for beginners in Bitcoin mining.Im think Bitcoin mining is still profitable but you need more funds to buy some asic miner.
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
I Tried Cloud Mining 1 Year From Now and On that time I Got Some Profit By Just Investing Money And I Don't Need to Maintain the Hardware to do Mining But Now a Days I Don't Suggest you Anyone to Do Mining Because Now a Days Mining is Not Profitable Because the Halving Passed Last Year Made the Mining Unprofitable......... Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Everyone can mine using thier laptop or pc's. Doesnt need any skills in mining on your laptop. It would be better if you assemble your own pc. Dont mine on your laptop you will only destroy it,and it will give you high electricity charges Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
1: Can any one mine?
Ans: Yes, though there is no guarantee of profit for everyone.
2: Is it done by pros?
Ans: Sure it is, that is because they understand everything about it and it is really complicated for someone like me and you, so we better let them do that.
3: Does it require a certain computer system?
Ans: Yes again. You will need mining hardwares to mine bitcoin and some pool etc which i have no much knowledge about.
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
First of all I would recommend reading the mining section of the forum. https://bitcointalk.org/index.php?board=14.0
I would also recommend reading mining topics at the bitcoin wiki site. https://en.bitcoin.it/wiki/Mining
This site will also be useful. https://bitcoin.org/en/developer-guide#mining
Mining is not very profitable at the moment. If you're thinking about making a serious investment, you need to calculate your electricity costs. You can do hobby experiments with small devices. But you can not earn money.
If you want to mine with hardware you already own you should look into asics resistant altcoins. If you have relatively cheap electricity (under 7 or 8 cents) you may be able to mine bitcoins with a small profit (after you pay for your hardware of course). I'd suggest doing a lot more of your own research to find out what would make the most for you.
There is no such thing as asic resistant. There was a time when I thought that altcoins could be asic resistant. This is what i got as a reply on bitcoin stackexchange.
As for mining bitcoins, the best way would be to get a special miner (hardware) and join a pool. Solo mining is not at all profitable.
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Since big companies are investing on it
Mining is any more not profitable for individuals
you will lose your time
Yeah right. If we do as individual. We have to pay for electricity. That is the most hardest part in bitcoin. If you wish to start you can invest on the solar mining and start as large scale. Small scale will not be profitable.
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Since big companies are investing on it
Mining is any more not profitable for individuals
you will lose your time
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Anyone can mine using thier computer,it doest need any skills or whatever. As long as you have computer you can mine directly on it. But i will tell you mining is not profitable so better not to do it. Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
If you want to mine with hardware you already own you should look into asics resistant altcoins. If you have relatively cheap electricity (under 7 or 8 cents) you may be able to mine bitcoins with a small profit (after you pay for your hardware of course). I'd suggest doing a lot more of your own research to find out what would make the most for you.
You absolutely shouldn't mine with your hardware. Even with free electricity it is completely USELESS. your CPU will break in no-time and it will make you a couple cents, if you're lucky.
If you want to mine with hardware you already own you should look into asics resistant altcoins. If you have relatively cheap electricity (under 7 or 8 cents) you may be able to mine bitcoins with a small profit (after you pay for your hardware of course). I'd suggest doing a lot more of your own research to find out what would make the most for you.
Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
Easiest for you is watch rise nad rise of bitcoin documentary movie, you will see exactly how to mine on amateur level. Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
You won't earn money tho, its only for pros now how u described it.
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