In this guide well show you how to mine your digital treasure in. Most likely you wont be earning money with bitcoin mining and thats okay mining has become a very specialised process.
How Does Bitcoin Mining Work
Cloud mining means that you do not buy a physical mining rig but rather rent computing power from a mining company and get paid according to how much mining power you own.
How mu! ch do you get from bitcoin mining. Bitcoin mining is very competitive business and you need to renew your machines once a while to stay in the competition. If you are mining bitcoin you do not need to calculate the total value of that 64 digit number the hash. But it is still a luring and profitable source of income if you could accept its risks.
The other hassles of electricity costs configurations maintenance and so on are basically the same. But for those of you with gaming pcs you might be surprised how much money you can make mining with it and how easy it is. You will learn 1 how bitcoin mining works 2 how to start mining bitcoins 3 what the best bitcoin mining software is 4 what the best bitcoin mining hardware is 5 where to find the best bitcoin mining pools and 6 how to optimize your bitcoin earnings.
If so you need to know how to make the best use of your money and equipment. At first this sounds like a really ! good idea since you dont have to go through all of the hassle ! of buying expensive equipment storing it cooling it and monitoring it. I let my computer mine for bitcoin for a week straight to see how much money i could generate.
This video goes over my 7 day 1 week bitcoin mining experiment. The long view investing in expensive equipment and spending in excess of 3000 in energy bills to mine one bitcoin only makes sense if you believe the price of bitcoin will rise beyond the 3000 to 4000 range. However at least with cloud mining you dont have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.
Are you serious about mining cryptocurrencies. Use your existing gaming pc to make some extra bitcoin or extra cash. You will get your earnings in btc and dollars as well as summary of your costs and when you will brake even and what will your net income be over your investment period.
Ethereum mining is cheaper than ! what youd need in order to mine bitcoin. You do not need to calculate the total value of a hash. But this only means that the hardware will cost less.
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