Who is producing bitcoin now, please?

Khaos77

member

Activity: 200

Merit: 73

Flag Day ☺

Quote from: bitbollo on February 27, 2019, 04:15:09 PM

PoS are not profitable. I can earn around 0,1-0,5% more coins yearly with Waves.
Even other PoS token are not the best and I don't think this they are profitable since coins can be overproduced and then depreciated on the market.

Picking a low inflation PoS coin can be profitable. (Especially in the long run.)

Even picking a high inflation PoS coin can be profitable (Short Term), if you're smart enough to enter & exit at the right times.

Waves is just another smart contract want-a-be, that no one cares about.
Here is the last post in the Waves Topic.

Quote from: Piston Honda on February 27, 2019, 10:48:28 AM

exactly right.

(and waves is still shit)
HAHA

bitbollo

legendary

Activity: 3276

Merit: 3537

Nec Recisa Recedit

PoS are not profitable. I can earn around 0,1-0,5% more coins yearly with Waves.
Even other PoS token are not the best and I don't think this they are profitable since coins can be overproduced and then depreciated on the market.

Quote from: ?? on ??

Bitcoin Proof of Work Mining is too expensive and there is no profit in it, unless you are Mega Rich to start with.

Only Way the little guy can make money is staking.

In PoW mining , you have to be mining all of the time so you don't lose out.

In PoS Staking, you can turn your PC off for months at a time, and turn it on for a few hours and receive almost the same reward (short compound interest difference of course).

Also in Staking, there is no need to buy new hardware every year or pay really high energy prices, a substantial price savings.

In addition, Staking has a higher scaling potential than Proof of Work , according to Ethereum founder Vitalik Buterin .
Which is why Eth will eventually drop PoW in favor of PoS.
Hopefully one day Bitcoin will do the same, so the little guy has a reason to own it again.

One of the Major complaints by Warren Buffet (one of the top ten billionaires in the world)
https://cointelegraph.com/news/warren-buffett-bitcoin-is-a-delusion-that-attracts-charlatans

Quote

“You can stare at it all day, and no little Bitcoins come out or anything like that. ”

If Bitcoin moved to Staking, then little bitcoins would come out ,
and that could potentially draw in the Billionaires to invest in bitcoin
and make the 1 bitcoin = 1 million not just a hope , but a reality.

BeManga

sr. member

Activity: 962

Merit: 269

CryptoDirectories.com

Quote from: valentin68 on February 24, 2019, 04:25:49 AM

3 weeks ago I visited the Hashnest website to verify if the Ant S12 miners have appeared (I read about them on the internet). There were no Ant S12 and the production of the Bitcoin with Ant S9 was stopped because the maintenance/payout was 140%.
Today when I verified Hashnest, the Bitcoin production is gone (What remained is the LTC hash power market, the LTC miners have been sold).

Is there someone here to tell me who remains the biggest Bitcoin producer, today? Who is producing bitcoin now, please? If I want to buy Hash power where do I have to go (what website)?

i think your just looking for cloud mining well cloud mining is not really profitable
and as for setting up own rigs you need to country will low cost electricity and cold weather
there also a lot of competitor you must know there are aslo incoming block halving
so for me i dont think its a good idea to invest in mining right now if you only plan to invest small amount

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

I can tell you from many years of experience with cloud mining that it is just one big Ponzi scheme. You buy hash power and your income just decrease over time and you pay them a fee to "mine" Roll Eyes

for you.

I experimented with different Cloud mining services and they all have the same business model. Guaranteed regular payment cycles and dwindling profits over time.

I had to cut my losses and exit the cloud mining scene. Angry

Nassim_1990

newbie

Activity: 12

Merit: 0

are you looking for bitcoin specifically or a cryptocurrency?
you can find groups that do the transactions, sell and buy.

muratsink

sr. member

Activity: 1330

Merit: 256

Quote from: Upgrade00 on February 24, 2019, 04:28:54 AM

I do not know very much about mining. But miners are not producers of bitcoin. The confirm transactions and get rewarded for completed blocks. I believe ASICS are the current mining system.
You would get clearer answers from more experienced members or you can do a bit of research online

in my opinion, The existence of miners is able to maintain the crypto world. financially, miners are also able to produce BTC, in my opinion, traders and whales also become big producers who can control the crypto market. investors prefer to hold for a long time, traders and whales are always looking for markets to find high BTC prices.

BTC market charts are controlled by traders who are always looking for opportunities to profit every day.

ASIC mining devices are not good, but are simpler, and in my opinion, good mining devices are Nvidia GTX 1070 Ti, AMD Radeon RX580, and others.

Micerker

full member

Activity: 593

Merit: 100

BBOD The Best Derivatives Exchange

Currently, Bitcoin mining stopped because some investors say that the cost is too high and you cannot make a profit from this even if you can lose money. Especially many people have sold their excavators to minimize the losses they receive.

ozeraykut

newbie

Activity: 10

Merit: 0

Its not worth to mine btc anymore. I think it would almost end and will be so hard in next year. So better to leave btc mining or even cloud mining systems so far.

valentin68

full member

Activity: 459

Merit: 104

Quote from: amrulshare on February 25, 2019, 02:03:18 AM

maybe the one producing bitcoin is the hardware mining industry,I think before they launch a new product to the public they certainly use it. with the hashrate that continues to rise they certainly develop mining hardware that has more powerful power. but, buying a hash is not something that is good to do because it will end in a scam

Thank you, I appreciate this advice.

fronti

legendary

Activity: 2912

Merit: 1309

Quote from: valentin68 on February 26, 2019, 10:43:44 AM

Quote from: awawo on February 24, 2019, 01:44:58 PM

It wrong to think that miners are the producer's of bitcoin, because from the little knowledge I have about bitcoin is that we have 21 millions bitcoin in circulation and what the ninners does is to hash bitcoin transactions so with my little knowledge about bitcoin mining I know the miner's are not producing bitcoin.

When every bitcoin will be mined (around 2040) there will be 21 milion bitcoins in circulation theoretically. The bitcoin produced until now are 80% of the 21 million bitcoins. That is, it remain to be mined approx 4 million bitcoins in the next 22 years.
Miners are producing bitcoins, they are hardware devices that apply the SHA256 hash algorithm to some previously given data, to obtain the bitcoins. With time the difficulty to find the bitcoins increases (goes up). This is why in the last 10 years 80% of the bitcoins were mined, and 20% of bitcoins remain to be mined in the next 22 years.

nearly correct but the last bitcoin will be mined in approx. 2140 not 2040.
So we will have some more time.
Here you can see in some tables the supply over the next blocks: https://en.bitcoin.it/wiki/Controlled_supply

valentin68

full member

Activity: 459

Merit: 104

Quote from: Pedro12528 on February 24, 2019, 03:04:25 PM

Quote from: anu1908 on February 24, 2019, 05:03:26 AM

Quote from: valentin68 on February 24, 2019, 04:25:49 AM

If I want to buy Hash power where do I have to go (what website)?

don't do it. cloud mining is not worth your time. your investment will return (if it ever will) after years or months, and after that the profit is quite minimal. build your own rig and mine on your own, or join a mining pool.

90% sites with cloud mining are just scam and nothing more, its a kind of hype projects.

For me Hashnest worked very good. I bought approx 400 GHash coupons on ebay 4 years ago with Paypal (paying approx 100 dollars). If I have kept those 400 GHs from Hashnest, until a year ago, now I would be a rich men.

valentin68

full member

Activity: 459

Merit: 104

Quote from: awawo on February 24, 2019, 01:44:58 PM

It wrong to think that miners are the producer's of bitcoin, because from the little knowledge I have about bitcoin is that we have 21 millions bitcoin in circulation and what the ninners does is to hash bitcoin transactions so with my little knowledge about bitcoin mining I know the miner's are not producing bitcoin.

When every bitcoin will be mined (around 2040) there will be 21 milion bitcoins in circulation theoretically. The bitcoin produced until now are 80% of the 21 million bitcoins. That is, it remain to be mined approx 4 million bitcoins in the next 22 years.
Miners are producing bitcoins, they are hardware devices that apply the SHA256 hash algorithm to some previously given data, to obtain the bitcoins. With time the difficulty to find the bitcoins increases (goes up). This is why in the last 10 years 80% of the bitcoins were mined, and 20% of bitcoins remain to be mined in the next 22 years.

valentin68

full member

Activity: 459

Merit: 104

Quote from: Danica22 on February 24, 2019, 01:02:52 PM

It is better to put your money into trading rather than investing in cloud mining. I humbly suggest not to buy a hashrate on any websites. It is not worth for your money it will take forever to be able to reach your ROI if it is a legit one. Most of them a Ponzi scheme.

In trading the reurns are about 90-98% of what you trade. To make money from trading (like in stock exchange, forex, etc) someone has to loose those money.
If you are very good, if you help other people, if people loves you, you will make money in trading, if not, you will loose money.

KingScorpio

sr. member

Activity: 1470

Merit: 325

big fat specialised and highly efficient bitcoin miner in big fat miner facilities, bitcoin mining is as central as the central banks.

Wildwest

sr. member

Activity: 1701

Merit: 308

Quote from: anu1908 on February 24, 2019, 05:03:26 AM

Quote from: valentin68 on February 24, 2019, 04:25:49 AM

If I want to buy Hash power where do I have to go (what website)?

don't do it. cloud mining is not worth your time. your investment will return (if it ever will) after years or months, and after that the profit is quite minimal. build your own rig and mine on your own, or join a mining pool.

I think it's true, cloud mining is no longer effective now, moreover there will be a reduction in the bitcoin block, the result will be a little.

amonymous

full member

Activity: 1177

Merit: 102

According to my ideas I can not see any problem for holding my bitcoin.But Holding has become clear to everyone now.for some people there is a lot of losses because when they bought bitcoin then the price was very high.
You write it down as well as holding you can start trading and It needs to be considered by your conscience.

seoincorporation

legendary

Activity: 3388

Merit: 3154

Quote from: valentin68 on February 24, 2019, 04:25:49 AM

3 weeks ago I visited the Hashnest website to verify if the Ant S12 miners have appeared (I read about them on the internet). There were no Ant S12 and the production of the Bitcoin with Ant S9 was stopped because the maintenance/payout was 140%.
Today when I verified Hashnest, the Bitcoin production is gone (What remained is the LTC hash power market, the LTC miners have been sold).

Is there someone here to tell me who remains the biggest Bitcoin producer, today? Who is producing bitcoin now, please? If I want to buy Hash power where do I have to go (what website)?

If you search on the news you will find how bitmain is on big troubles right now...

https://www.coindesk.com/mining-giant-bitmain-posts-500-million-loss-in-ipo-financial-filing

They are the ones behind the Ant miners, so, i'm not sure if they will continue with the business with those enormous losses.

But if you want to invest in some miners, i would recommend you to visit this site: https://whattomine.com/miners

joshv06

hero member

Activity: 991

Merit: 500

Quote from: kelz1 on February 25, 2019, 02:36:04 AM

China is known as the world's factory so it makes sense for them to produce most of the bitcoin. If they band together they could be the ones manipulating the market with these dumps

Yes China is the hub of the entire world and they can produce the most Bitcoin logically. But the fact is the value of top coins is not fair as expected, a lot of them thought mining might be a game changer for earnings but it has lose the trust. Continuous price manipulation has dumped the market and this disaster is still happening we need a change for sure.

eann014

hero member

Activity: 1078

Merit: 501

Quote from: anu1908 on February 24, 2019, 05:03:26 AM

Quote from: valentin68 on February 24, 2019, 04:25:49 AM

If I want to buy Hash power where do I have to go (what website)?

don't do it. cloud mining is not worth your time. your investment will return (if it ever will) after years or months, and after that the profit is quite minimal. build your own rig and mine on your own, or join a mining pool.

Mining for me is not really profitable, especially we need the use of electricity, the electricity in our country is expensive and it is not worth it if I mine here in our Country. I still choose to trade and invest.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: kelz1 on February 25, 2019, 02:36:04 AM

China is known as the world's factory so it makes sense for them to produce most of the bitcoin. If they band together they could be the ones manipulating the market with these dumps

While that's true, it's more precise to say that China is huge, and there are places with dirt cheap electricity and ideal mining weather conditions that miners can take advantage of. They're starting to distribute their operations a bit better geographically, but I imagine the current market won't allow any rapid movements.

Manipulation can't be ruled out for Chinese miners for sure, but the same could be said for any group that has sizable influence. It might be best for the community in general if we all stop pointing fingers.

Topic: Who is producing bitcoin now, please? (Read 569 times)