About The Author Worth Mark is a 24 year old litecoin entrepreneur. Why Use a Blockchain? Mining for asking it! I believe digital currency is future its inevitable. Versions of cgminer following version 3.
Therefore, the latest version isn't necessarily the one to download. It seems like if you purchase a rigs worth of litecoin now, you would be making more money than if you were waiting for the rig to earn itself back as the difficulty keeps rising with litecoins continued exposure. Brunchies is a criminal. And please don't worry, your report will be anonymous. You better use a graphics card GPU to mine litecoins or if you can't afford one, switch to another coin.
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Just remember, if you are considering becoming a Bitcoin miner, work through the math before you invest. While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoinsmany of the alternative digital currencies are still well suited for mining on your home PC. That can become a professional litecoin or at least a part of it. Petr Mensik 1 1 mining. Unless worth possess specific mining hardware, there are two ways to mine cryptocurrencies:
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These are however very important factors of profitability. What will happen after the last coin is mined? Would not it mean the price of the coin would drop to 0? Very well written Ofir, thank you. In other words do you need to have the highest available internet service too? I know nothing about Bitcoin compared to most of the people who are reading this or in Bitcoin.
I have been reading and watching videos about Bitcoin. I believe digital currency is future its inevitable. Anyway since I have watched and read cannot tell how to make Bitcoins. I dont believe in cloud mining because I havent seen that i can trust. Is there any one who still makes Bitcoin with mining, cloud mining etc? There are very few cloud mining websites that have real and actual proof they truly mine and are not scams.
Personally, my fav one is BW. Please, feel free to check it yourself. Just read the article. I understand now that it is not that profitable on legit cloud mining platforms unless the bitcoin price surges. I guess I will have to look for other ways to get into bitcoin investing since home mining and cloud mining are not forthcoming. I have joined a company for bitcoin mining which is legitimate.
Pls let me know if you are interested. Can share with you more. Hi all I live in an area where we have free electricity its a university community and electricity if free to student I would like to partner with someone who can supply the equipment to mine.
Kindly contact me if interested. My 3 miners currently operate at approximately 7. I have been reading through this document on Bitcoin and very eager to start investing but your post caught my attention and would like to hear your advice concerning starting Bitcoin investment. What does it take apart from the electricity issues? Will be glad to hear from you. Also do you pay pool fees etc? Can you just mine the BTC and place in wallet by yourself without joining pools?
Your 20k investment into BTC mining is now a central heating system, amazing. Last updated on December 23rd, at Select miner Released How much electricity does your miner consume?
Avalon 7 November WW 0. AntMiner S7 August W 0. AntMiner S5 December W 0. Avalon 6 August W 0. It has a small chance of mining a block but does not generate monthly revenue. Notify of new replies to this comment. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous. Genisis Mining is very profitbale.
There are the most trusted cloud mining. Dear Ofir, Thank you so much for such a wonderful and informative article. I have learned a lot. I highly recommend you try out some alt coins and dump them on exchanges. Thank you for your interest in this question. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site the association bonus does not count.
Would you like to answer one of these unanswered questions instead? Questions Tags Users Badges Unanswered. Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. Join them; it only takes a minute: Here's how it works: Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top. Is it worth mining Litecoins? Petr Mensik 1 1 7. If you plan to sell the coins you can only do it at a few places right now, BTC, Litetree, vircurex.
Only a few of these Exchanges do litecoins. Cryptocoins Mining hardware comparison. Aley 1 2 9. Thanks for answer, but still - is mining other currencies makes sense or is it a dead end? Petr it depends on your hardware. I would say it makes sense for some time, but when competition gets to high it doesn't.
Electricity cost is the most important factor. PetrMensik you never know. But the probability that LTCs rise in value is high I guess.