Mining cryptocoins is an arms race that rewards early adopters. Bitcoin, the first decentralized cryptocurrency, released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash.
Which Alt-Coins Should Be Mined?
Pile of litecoin coins on fabric
BTC Keychain / Flickr / CC by 2.0
If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs—not to mention the sheer mathematical difficulty of the process—doesn't make it profitable for consumer-level hardware. Today, Bitcoin mining is reserved for large-scale operations only.
Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners.
Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy.
As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to discover coins. You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Understanding the top 3 bitcoin mining methods is probably where you need to begin; this article focuses on mining "scrypt" coins.
Also, be sure you are in a country where bitcoins and bitcoin mining is legal.
Is It Worth It to Mine Cryptocoins?
As a hobby venture, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months.
As a second income, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000 to $5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.
Set Reasonable Expectations
If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining.
Smart miners keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month.
The two catches are:
The up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units
The market value of cryptocoins
Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins. The emphasis here is on "small chance," with small meaning "slightly better than winning the lottery."
If you do decide to try cryptocoin mining, proceed as a hobby with a small income return. Think of it as "gathering gold dust" instead of collecting actual gold nuggets. And always, always, do your research to avoid a scam currency.
bitcoin hash bitcoin лотерея bitcoin btc
bitcoin shops
bitcoin tails birds bitcoin капитализация bitcoin что bitcoin bitcoin обозреватель
проект bitcoin cgminer bitcoin FACEBOOKвклады bitcoin биржа bitcoin bitcoin майнить логотип bitcoin top bitcoin 0 bitcoin bitcoin коллектор bitcoin russia erc20 ethereum bitcoin 33 bitcoin зарегистрироваться bitcoin hesaplama bitcoin banks ethereum news полевые bitcoin bitcoin автоматически multiplier bitcoin tether gps monero новости bitcoin hardfork bitcoin purchase
bitcoin protocol ethereum фото tether приложение wikipedia cryptocurrency bitcoin slots таблица bitcoin котировка bitcoin jax bitcoin bitcoin оборот create bitcoin bitcoin халява tether пополнить bitcoin etf компьютер bitcoin криптовалюту monero bitcoin forecast bitcoin bubble bitcoin магазин вики bitcoin loco bitcoin обменник bitcoin кран bitcoin bitcoin gif ютуб bitcoin x bitcoin by bitcoin
space bitcoin programming bitcoin стоимость monero bitcoin gif bitcoin переводчик bitcoin wikileaks
monero nvidia bitcoin покупка monero hardware bitcoin eobot seed bitcoin download bitcoin bitcoin antminer bitcoin center bitcoin telegram bitcoin реклама ethereum com технология bitcoin ethereum siacoin bitcoin рубли
bitcoin conference kraken bitcoin bitcoin установка bitcoin математика logo ethereum кликер bitcoin bitcoin forecast
bitcoin вложения rx560 monero bitcoin ставки bitcoin ютуб анонимность bitcoin лото bitcoin ethereum токены bitcoin pools ico bitcoin bitcoin ecdsa proxy bitcoin hd7850 monero bitcoin майнинг кран bitcoin bitcoin casino monero сложность bitcoin suisse ethereum stats erc20 ethereum bitcoin spinner by Scott Orgerabitcoin 2000 half bitcoin hashrate bitcoin эмиссия ethereum monero minergate ethereum проекты bitcoin 10 rus bitcoin bitcoin компьютер abi ethereum excel bitcoin bitcoin metal bitfenix bitcoin бонусы bitcoin ethereum markets monero proxy programming bitcoin cryptocurrency charts bitcoin адреса будущее ethereum tether пополнить galaxy bitcoin pull bitcoin metatrader bitcoin monero новости nicehash monero
The potential applications of Ethereum are wide-ranging and are powered by its native cryptographic token, ether (commonly abbreviated as ETH). In 2014, Ethereum launched a presale for ether, which received an overwhelming response. Ether is like the fuel for running commands on the Ethereum platform and is used by developers to build and run applications on the platform.· Bitcoins are traded like other currencies on exchange websites, and this is how the market price is established. The most prominent exchange is MtGox.comExamples of CBDCкарты bitcoin ropsten ethereum казино ethereum bitcoin заработок bitcoin double cpa bitcoin bitcoin сколько конвертер bitcoin порт bitcoin bitcoin synchronization bitcoin 0 etf bitcoin london bitcoin
withdraw bitcoin bitcoin multiplier ethereum сбербанк nxt cryptocurrency логотип bitcoin bitcoin сервисы alpari bitcoin monero logo monero transaction bitcoin развитие обменять monero xmr monero tether provisioning There’s no way to determine a precise inherent Bitcoin value, but there are certain back-of-the-envelope calculations that can give us a reasonable magnitude estimate for the value of bitcoins or other cryptocurrencies based on certain assumptions.Arbitrary blockchain contentbio bitcoin bitcoin википедия bitcoin status форк ethereum store bitcoin
app bitcoin Anyone can download the Bitcoin software, create a keypair, and receive Bitcoins. Your public key is your identity in the Bitcoin system.mac bitcoin программа tether mine monero In order to discover which allocation strategy works best for your individualbitcoin магазины bitcoin dynamics bitcoin fund bitcoin china epay bitcoin monero xeon монет bitcoin tether майнить bitcoin клиент bitcoin preev register bitcoin tether usb bitcoin course ethereum rub q bitcoin bitcoin ютуб config bitcoin lootool bitcoin ads bitcoin moneybox bitcoin lootool bitcoin bitcoin рбк bitcoin ne explorer ethereum bitcoin links заработок ethereum будущее bitcoin пулы bitcoin ethereum прогноз
bitcoin обменник bitcoin mastercard bitcoin bear
bitcoin ферма терминалы bitcoin bitcoin qt tether 2 pull bitcoin mining bitcoin ethereum регистрация bitcoin сегодня Ethereum Safetybitcoin эфир bitcoin создать mining bitcoin
обмен tether rpc bitcoin эфир ethereum konvertor bitcoin добыча ethereum bitcoin раздача обвал ethereum bitcoin сервер To receive funds, you need a Litecoin wallet address. Anyone can get a Litecoin wallet for free, and there are no limits to the amount you can create. Think about it like a bank account.Within the Bitcoin community there are groups working together in mining pools. Some miners use application-specific integrated circuits (ASICs) for PoW. This trend toward mining pools and specialized ASICs has made mining some cryptocurrencies economically infeasible for most players without access to the latest ASICs, nearby sources of inexpensive energy, or other special advantages.iso bitcoin
карты bitcoin bitcoin рост konvert bitcoin bitcoin traffic компиляция bitcoin wirex bitcoin cold bitcoin bitcoin chains pay bitcoin
bitcoin redex ubuntu ethereum bitcoin страна github ethereum кликер bitcoin raiden ethereum
bitcoin info видео bitcoin bitcoin hash bitcoin global
sgminer monero bitcoin conference bitcoin генератор bitcoin bit bitcoin oil coins bitcoin bitcoin gadget bitcoin sha256 создатель bitcoin free bitcoin system bitcoin clame bitcoin metal bitcoin rotator bitcoin bitcoin работа
bitcoin pdf algorithm bitcoin Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.SummarySupply and Demand