I bet they are holding bitcoin mining extract bitcoin-cash so they can profit from it. I recommend running the numbers through the Gensis Block Mining calculator http: Only saw the reply now, so will respond, in the meantime, maybe you should read about bitcoin mining schemes here: Rolf Bitcoin profitablebitcoinmining Currently asic ones are Monero, ZCash bitcoin Etherium. This also needs to be accounted solutions when you are working out how long it will take you to get your return on investment.
Hope you can give a little direction. Leave a Reply Cancel reply Your email address will not be published. Instead of owning your own physical bitcoin mining hardware on your premises, you pay for bitcoin mining power provided by a bitcoin cloud mining company. I will bring my A game and invite them to bring their A game. Bitcoin cloud mining usually refers to the process of Bitcoin mining using the shared processing power of a bitcoin miners at a remote data center. Rolf September 8, 4:
Note that the weight of the attached PSU adds considerably to shipping costs. In the mining days, if you were a gold miner, bitcoin were lucky, you could make a profitable. Some people are who believe the price of bitcoin will go up, think that it is a wiser investment to therefore not spend it, and rather keep your bitcoin for that future date. The solutions the jumps in bitcoin difficulty, the bigger the cuts in your mining profits. The problem Asic see wth that is where are you going to get power from?
This is due to the ever-changing nature of the Difficulty modifier and the BTC price, in particular. To begin, we must select a suitable ASIC mining rig. To aid in selection, the Bitcoin Wiki provides a handy mining hardware comparison:.
Note that the Hardware Costs field does not seem to influence the final calculation. We are using the default power cost of 5c USD , a likely rate for a Chinese industrial area or one in which electricity is subsidized. To determine your own power cost, check worldwide electricity prices or your utility bill for the exact price. Smaller pools will generally offer lower or even no fees, but keep in mind they will seldom find blocks.
The fees and reward structures of various pools are compared in this list. In other words, the unit will pay for itself within a year. This is a dangerous assumption! Occasionally, Bitcoin hashrate spikes as a big new mining pool comes online. This happened in early The home miner really has no chance to compete in such a challenging environment, unless they have access to free or extremely low-cost electricity….
Also bear in mind that the rate of obsolescence in Bitcoin mining hardware is quite fast! When one miner finds the solution to the problem, they broadcast their solution to all of the other miners. The other miners then verify that the solution is correct. This new creation of bitcoins also acts as a way to add to the overall bitcoin money supply. The description of mining above is extremely general and conceptual.
The problem with mining for profit is that it takes a ton of electricity and expensive hardware, and profit margins are slim. Then on top of that it takes some time and dedication to learning. Common wisdom says that investing that is just buying and holding is a better way to make profit and some light trading is a better way to make coins.
As Bitcoin mining hardware got faster and faster, SI unit prefixes were required:. Difficulty is an automatic control measure which prevents that from occurring.
Every two weeks, difficulty adjusts to the current hashrate so that blocks continue to be solved every 10 minutes on average. Remember to account for probable downtime due to power cuts, hardware or software failures and the like. Break-even point is the length of time it takes for your miner to pay for itself, if it ever does. Mining pools are cooperative groups which combine their hash-power and distribute any rewards which the pool earns proportional to individual hashrates.
Pools have different fees and reward structures which be compared here. The larger the pool, the more regular returns can be expected. The current distribution of hashrate among mining pools, courtesy of Blockchain. Click here to view AntMiner S9s for sale. Although the S9 is four or five times more expensive than its rivals, it also mines about three to four times more bitcoins and also uses electricity far more efficiently.
If your intention is to mine for profit at a small scale, at this stage the S9 represents your best shot at success. Bitmain is currently the leading manufacturer of publically-available ASIC hardware.