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In the last two years, the topic of cryptocurrency has been raised very often in the popular media, with most journalists writing about bitcoins and making money on them in a positive way. And looking at , which in 2017 already exceeds 1 btc to $2,700, it becomes clear why many network users are interested in the question of how to make bitcoins. The prospect of installing a special mining program on your PC, which will independently carry out all the necessary calculations and generate virtual coins, seems very tempting, but not everything is so simple.
At the very beginning of the existence of cryptocurrency, when each created block contained 50 coins, the question of how to create bitcoins on your computer was relevant. In 2009-2012, it was actually possible to mine cryptocurrency yourself using your home PC. Then the process of mining coins was much simpler, and there were several orders of magnitude fewer miners on the network, so even owners of not very powerful computers could count on luck. But in 2018, the answer to the question of how to quickly mine bitcoins on a home PC is clear: without special, very powerful equipment, this is impossible.
However, it cannot be said that now ordinary network users have no chance of getting bitcoins on their computer. Of course, this will require costs and effort, but as a result, you can make good money by mining bitcoin. Let's look at the specifics of cryptocurrency mining and the ways in which you can actually start downloading Bitcoin now.
Bitcoin mining in 2018
Mining (from the English Mining - mining) is the process of creating bitcoins through calculations. Cryptocurrency is generated in blocks, and each block contains a fixed number of coins. In 2009, when the system was just launched, there were 50 btc in one block, and after 4 years the reward for a mined block began to be 25 coins. At the end of 2016, the number of bitcoins awarded to the user for a generated block again decreased by half - to 12.5 btc.
On average, every 10 minutes, 1 block is generated on the network, and the miner or group of miners who extracted it receives a reward. Total There is a limited number of bitcoins that can be mined - after 21 million coins have been created, the process will stop. It is impossible to speed up the process of generating new blocks and get all the coins in a few days or weeks. Therefore than more users networks are engaged in mining at the same time, the smaller the chance of creating bitcoins for each of them.
Thus, we can conclude that the process of creating cryptocurrency is constantly becoming more complicated under the influence of two factors:
- Reduced reward for each mined block
- An increase in the number of miners, while the number of blocks that can be created per unit of time remains unchanged.
However, there is another factor that partially covers the difficulties of mining Bitcoins and makes the mining of this cryptocurrency attractive to network users. This factor is the prospects for its further growth.
Mining Software
The first step to start mining Bitcoin is to create a personal Bitcoin wallet. A Bitcoin wallet will be needed by both miners and those who simply use this currency to make purchases on the Internet or earn money by investing in virtual money.
The easiest and safest option is to create an official Blockchain wallet. But many users also trust their mined or purchased virtual coins to Breadwallet and Armory wallets. These software solutions are united by the fact that the keys in them are stored on the user’s personal PC, and not on cloud services. Therefore, no third party can access the user's private keys.
Server-based bitcoin wallets like Coinbase should be used at your own risk. The fact is that all the data from them is stored on the servers of the Internet provider. And the provider (or a hacker who hacked the server) can at any time gain access to all the keys from the wallet - both public and private.
In addition to the wallet, to mine bitcoins on your own equipment (PCs, specialized ASIC miners, powerful video cards), you need a program that will carry out calculations to generate blocks. Nowadays you can find more than 10 different software for creating cryptocurrency on the Internet, and all of them are adapted for operating systems Windows and Linux. Also, most of them are designed for mining not only bitcoin, but also a number of other cryptocurrencies. The most popular programs for creating bitcoins are:
- BFGMiner is a miner that can be used to mine virtual money using the power of the matrix, video card, processor and ASIC.
- CGMiner is a powerful and almost universal program for creating blocks. It not only performs all the necessary calculations, but also monitors the power of the video card and adjusts the computer fan speed settings during the mining of Bitcoin or other cryptocurrencies.
- NiceHash Miner is a multi-user cloud version of CGMiner.
Cloud cryptocurrency mining
If 4-5 years ago, when there were relatively few bitcoin “diggers”, owners of medium-power PCs could mine cryptocurrency on their own, but now this is not realistic. It is impossible to mine a block with virtual coins on a regular computer or laptop - the equipment simply does not have enough power. Therefore, miners began to unite into groups (pools) to combine the power of their equipment for collective mining. This collective creation of bitcoins is called cloud mining.
One pool can contain both 1000 and 100,000 users at the same time, and more than more people joined forces and the more powerful their equipment, the more blocks they will create. The reward for each block mined in the pool is distributed among all participants in proportion to the provided hashing power. Therefore, ordinary users should not expect to earn 1 or more bitcoins per month - they can receive an average of 150-400 thousand satoshi in 30 days. It is also important to remember that the pool administration takes a commission from all participants in the amount of 1 to 5% of earnings.
Users can choose a pool for collective bitcoin mining on their own. The main thing is to take into account the reputation and life of the pool. And today the most reliable and successful are the following mining pools:
- AntPool is a Chinese pool that mines about 15% of all new blocks
- F2Pool (another name is DiscusFish) is a Chinese mining pool that generates this moment approximately 12% of all new blocks
- BitFury Pool is a private Georgian pool that creates about 12% of all bitcoins
- ViaBTC is a Chinese pool that has been operating for 3 years and produces 8% of all new blocks
- GBMiners is a well-established Indian mining pool with a 5% share of total bitcoin mining.
Cloud mining today is the most promising way to mine Bitcoin. However, it cannot be said that it does not require investment, because in order to receive a good reward, the user needs to provide the pool with powerful equipment. And most companies that own pools offer all mining participants to buy or rent ASIC miners, which, when installed on the pool’s Bitcoin farm, will “work” for their owner or tenant.
The advantages of cloud mining include real prospects earnings, no additional costs for electricity and no need to constantly monitor the serviceability of your (rented) equipment.
Mining with ASIC miners
ASIC miners (colloquially called “ASICs”) are highly specialized equipment that is installed on a PC and is intended exclusively for mining cryptocurrency. Modern miners are very powerful, but have only one function - to carry out operations to generate new blocks. Therefore, the purchase of such equipment is associated with some risk, because if the bitcoin rate drops sharply, ASIC miners will become useless hardware.
However, purchasing an ASIC is the only way today to make bitcoins yourself, without participating in a pool. Having a Bitcoin farm with several powerful miners, it is quite possible to independently generate new blocks that fit the conditions of the system and receive a reward for them.
But those who want to create their own farm and mine Bitcoin individually should understand that large investments will be required at the very beginning. The price of ASIC miners, the power of which is sufficient to generate new blocks for this moment, is $1500-3000 and above. It is also important that this equipment consumes a lot of electricity, and the cost of electricity will fall on the shoulders of the individual cryptocurrency miner.
Today the most popular ASICs are from the following manufacturers:
- HashCoins
- Avalon
- Bitmain Tech
- AsicMiner et al.
Mining on video cards
Mining bitcoins on gaming video cards was very popular in 2013-2015, the code power of this equipment was enough to perform hashing. Now, according to experienced miners, even the most powerful video card alone will not be enough to carry out computational operations. Therefore, those who prefer this method cryptocurrency mining, buy several powerful specialized cards produced by Nvidia or ASUS at once and create their own bitcoin farm.
The method of mining bitcoins on an nvidia video card is not much different from mining on ASICs. These cards are installed on a PC, and then run miners that perform hashing operations using the power of the video cards.
Thanks to the fact that Nvidia and ASUS have begun producing video cards for mining, cryptocurrency miners can now purchase specialized hardware rather than buying gaming cards, as they previously did. However, the price of such equipment is not much lower than the cost of ASIC miners, and its performance is somewhat lower.
In the process of testing video cards, it was found that they are more effective for mining cryptocurrencies such as ether, litecoin, etc. But to mine bitcoin, you will need several cards with high performance at once.
If you decide to start mining Bitcoin for investment and profit, you will most likely encounter one serious problem: most sites on this topic are created for advanced users. If you are not a professional programmer, you have no experience with Ubuntu and Linux, and only a little experience using a Mac or PC, this text will help you start with the basics.
1. Buy Bitcoin mining equipment
In the past, you could mine Bitcoin on a regular computer or using a video card (this was called GPU mining). However, today this type of activity has become so competitive that you will need ASIC miners - special computers designed exclusively for mining Bitcoins.
2. Get a Bitcoin wallet
First of all, you will need to choose a Bitcoin wallet. Since Bitcoin is a cryptocurrency, you will need to store your money somewhere. When you create a wallet, make sure you have the wallet address. It is a long sequence of letters and numbers. Different wallets have different methods for obtaining a public (open) Bitcoin address, but, as a rule, it is all very simple. Please note that you will need a public Bitcoin address, not a private key, which is the password to your wallet.
If you have created an offline wallet (that is, you have downloaded the program to your computer and are not using an online service), you need to do one more thing important thing. Copy the wallet.dat file to the USB flash drive, print it and store it all in safe place. The point is that if your computer crashes and you don't have a copy of your wallet.dat file, you will lose all your bitcoins. They will not go to another user, but will simply disappear forever, as if you burned the banknotes.
3. Select a mining pool
Now that you have your wallet, you're probably itching to start mining, but if you really want to earn some Bitcoin, your best bet is to join a pool of some sort. A mining pool is a group of Bitcoin miners who have pooled their computing resources to mine more Bitcoins. Meaning teamwork is that rewards are given out per block - typically a block created is worth 12.5 bitcoins - and a single user has to be very lucky to get that money.
In a pool, you will have to perform smaller and less difficult algorithms, and through collective efforts you will have a better chance of executing a large algorithm and earning bitcoins, which will be distributed among the pool participants in proportion to their contribution to the common cause. As a result, you will be able to earn more bitcoins, and your investments will begin to generate profits sooner.
When choosing a mining pool, ask yourself the following questions:
- On what basis is remuneration calculated?
- What is the fee for mining and withdrawing bitcoins?
- How often do they find blocks (that is, how often will you receive a reward)?
- Is it easy to withdraw bitcoins?
- What statistics do they provide?
- How reliable is this pool?
The answers to most of these questions are contained in an excellent text on the BitcoinTalk website. In addition, a detailed comparison of mining pools is available in the Bitcoin Wikipedia. As an example, consider Slush's Pool. After registering, you will receive a username and password, which you will later need to enter to work in this pool.
Follow the link to the site, click on “Sign up here” at the top of the screen and follow step by step instructions. After you create your account, you will need to add a “Worker”. Actually, for each mining computer you will need to register a separate ID so that the pool can track your contribution to the common cause.
4. Install mining programs on your computer
Now that the preparations are done, you are almost ready to start mining Bitcoins. All that remains is to install the client program on your computer to manage your mining equipment. Different computers require different software. Many pools have their own software, e.g.
Hello, in this article we will talk about the virtual currency - Bitcoin.
Today you will learn:
- How to earn bitcoins with and without investments.
- What to do with bitcoins.
- How much do they earn?
Working ways to earn bitcoins
First, watch a 3-minute video that literally tells you about the Bitcoin cryptocurrency:
Earning bitcoins using a computer is becoming more difficult. Just a few years ago, when Bitcoin was just beginning its “promotion,” it was possible for anyone to earn the average salary of an office worker. Now, with the advent of the big coin, we have to come up with new ways to actually earn coins.
Mining
Mining is the extraction of currency using a video card, one of the first ways to earn cryptocurrency. It has its drawbacks, although it is considered the most reliable and profitable.
About two years ago, you could earn money thanks to a video card, which did not require any expenses. The whole point was that the currency “hunter” in game form built gold mines, mined gold and exchanged it for real money.
Now, in order to earn money, you need to create or buy a special computer configuration with an expensive video card. Not only will the configuration cost a lot of money, but you will also have to pay twice as much for electricity. That is why mining, as an unprofitable method, goes down a step from the top every month.
Advantages of mining on your own computer |
Disadvantages of mining on your own computer |
1. It is possible to sell equipment at a discount at any time. 2. Complete minimization of speculation. 3. You choose which currency to “hunt” for. 4. Automatic earnings of bitcoins. |
1. Equipment handled in this manner has a high risk of breakdown. Added to all this is the low likelihood of warranty service. 2. Noise and double the electricity use. 3. B own apartment there is no possibility to create large farms. 4. Due to Internet outages, work is completely interrupted (even if it has lasted for several days), and the farm has to be started again. |
The offer of mining among “hunters” is considered only if it is possible to pay half the cost of electricity or not pay for it at all.
Cloud mining
The essence of cloud mining is that you don’t have to spend money on a computer, video card, and so on. You are offered to rent computing power on remote servers. However, cloud mining has been almost completely “attacked” by scammers who successfully hide after receiving the rental payment. So be careful with this.
The purchase of capacity occurs in hashes. The computer unit increment system is identical to bytes. It is advisable to purchase Giga or Terahashi. This is a more reliable option.
The average cost of one Gigahash depends on the exchange rate. For example, in 2016, 1 bitcoin cost about $650. 1 Gigahash cost 0.0006 bitcoins ($0.47). This will be enough for a stable income of 1 bitcoin per week.
Investments
Bitcoin appeared in 2008 and its cost was negligible. In 2017, the cost increased a million times. An investment carries some risk. With a long-term investment in cryptocurrency, it is possible for the price to rise, stop, or fall.
After several years, many people regret that they did not contribute, for example, in 2013. It was at the end of this year that the price began to rise, which later rose “to the skies.”
Bitcoin farm
Mining farm – a chain of computers that perform calculations around the clock, 365 days a year. The way a farm works is that you provide a specific program with the processing power of your computer. The video cards built into the farm operate at the limit of their capabilities.
Farms occupy a pyramid position. They are beneficial only to those who started doing this at the time of the birth and “promotion” of cryptocurrency. Many people, having learned that a mining farm brings in $1,000 a month, spend fortunes on it, but what happens then?
Perhaps in the first month the farm will give you the desired money. But the fact is that over time, the computing power requested by the program and servers increases. And the power of your farm remains the same as in the first month. As a result, earnings will decrease.
IN best case scenario the owner of such a device begins to try to fix something, but nothing works, and therefore he has to sell the farm.
Next, second underwater rock: your farm worked hard, for example, for about six months or a year. You bought it for 100,000 - 150,000 thousand rubles, and a year later its value due to permanent job will be about 60,000 thousand rubles.
But does anyone make money on these farms? Yes, on the computing power of those who buy up hangars and completely fill them with farms. They invest several million and buy about hundreds of thousands of video cards. This brings income, but newcomers who have stepped on the second pitfall make money only by selling these same mining farms.
To avoid getting hooked by those who sell farms, ask yourself: why is he selling it if it generates income? True miners who know all the intricacies and nuances of making money will not dare to decide to sell what generates income.
How the farm works and what you get paid for
Bitcoin is a decentralized unit. It does not have a single server or developer who would do this. That is why when downloading a special software For mining, you turn your computer into a server particle. And there are quite a lot of people like you. If you put all these particles together, you get a powerful server.
To give people an incentive to stay part of the server, the system pays rewards in the form of virtual currency. That is, miners receive money for donating the power of their computer to the system.
Remember that it is impossible to quickly earn bitcoins, and it is also impossible to earn them simply by placing a farm on the windowsill and minding your own business. This is a kind of investment in which you need to wait for payback, you need to constantly work on it, delve into new subtleties and monitor the exchange rate of virtual currency daily.
Earning bitcoins without investment
It is quite possible to make money on Bitcoins from scratch, but it will take a lot of time. Currently there is great amount servers that offer free currency, more precisely, Satoshi (one hundred millionth of a Bitcoin). All you have to do is enter captchas, go to websites or watch videos. In general, a full-fledged job.
Where to earn bitcoins
Free Bitcoin servers are called Bitcoin faucets. Earnings are low, but so are you complex tasks you don't comply. Initially, faucets were created to “promote” currency, but now they are the easiest and most popular way to make money. Plus, there is a referral program on all servers. By attracting partners, you receive additional income.
Several ways to earn currency without investment:
- Bitcoin collection.
The easiest way to get bitcoins. The registered user is asked to either enter a captcha or view an advertisement, and after the action is completed, they are paid from 50 to 200 satoshi.
Typically, such faucets have a timer for entering a captcha or viewing an advertisement. On some sites, the entry can be repeated every five minutes, while on others it can be repeated every hour. Experienced “hunters” suggest setting up 10 - 20 coin mining servers, because from one such faucet even average earnings very difficult to get.
If you have or is well promoted social network, then this method is just for you. You can leave affiliate links to Bitcoin faucets where a certain number of people will see them. Thus, we are back to the referral system again. For referrals, that is, partners, the service determines your percentage.
- Automatic earnings on faucets.
Earning money from a machine is the most the best option to search for virtual currency. This is a fairly simple method that is suitable for those who want to make a profit without any action at all. In order to earn money, you just need to install it on your computer special application STARTAVTOBET, and it will bring you money automatically.
What to do with earned bitcoins
If you have earned your first bitcoin, then the question arises: what to do with it? Before you start working, any server you want to register on will offer to open a wallet with which it cooperates.
This is exactly the same system as, for example, if you paid your child’s tuition through a university partner bank: minimal commission or no commission at all, and the money will be received one hundred percent. Many Bitcoin faucets withdraw earnings automatically if you enter your wallet number.
After the first cryptocurrency has been successfully earned, it must be withdrawn. Many advanced “workers” advise not to wait for the rate to double or increase, but to withdraw the amounts immediately, because there is a huge risk of “burning out”.
Bitcoin withdrawal
It is legal to withdraw bitcoins to an electronic account. Unfortunately, this currency cannot be cashed out, but there have been cases when it was used to pay in online stores.
The following ways to receive cryptocurrency are available:
- You can withdraw through exchanges.
Exchange systems have flooded the Internet. They allow users to engage in a system of purchases and sales, as well as cryptocurrency conversion (conversion is the ability of currencies to exchange among themselves). The commission on exchanges is minimal, but you need to wait until there is a buyer for your product.
Popular exchange – big chance quickly change a coin. The most reliable exchanges are those that, after registration, ask you to make a deposit and undergo verification, and only after that provide full list operations.
- Exchangers.
The most reliable and proven method by many people. Almost instant payments to your desired wallets. But of course, the exchanger requires a fee for its operations.
- Forums.
This is perhaps the most unsafe method of exchanging currency. It is built through the forum on complete trust strangers to each other. And here the chance of becoming a participant in a dishonest deal increases.
On specialized forums it is possible to find a specific person with whom you will make a transaction, but this will take some time. The advantages of this option are zero commission and instant exchange.
How much do you earn on bitcoins?
The more people mine or register for Bitcoin faucets, the less you will earn. Imagine a circle that is divided into ten equal parts. A circle is information that you need to process, and for this processed circle you pay 20 bitcoins.
There are ten people like you, and when you process this circle, one tenth of all the money will end up in your wallet. Now imagine that a thousand more people find out about this circle, which means that now the reward will be a thousand times less.
The Bitcoin exchange rate is not backed by anything and is extremely unstable. It changes almost every hour. This happens because its fall and rise depend only on two factors: buying and selling.
Example. If one person decides to sell ten bitcoins, the rate will fall quite low, and if he decides to buy them, the rate will increase. It also depends directly on the news. If a well-known news newspaper writes that they want to block the cryptocurrency, then the rate will be almost equal to the minimum.
When considering mining as an option for making money on cryptocurrency, the daily income will be about 600 rubles per day. And this is with the most powerful gaming computer. If you take a computer of average power, then the maximum income will be 50-60 rubles.
Alternative ways to make money on Bitcoins
People don’t really want to wait for their cloud mining to take off or for a certain amount of Satoshi to be collected on a Bitcoin faucet.
In order to earn 1 bitcoin per week, you can use the following methods:
- Take advantage of cryptocurrency doublers.
Doublers operate on the “invest - get twice as much” system. In this case, you need to be careful and not jump into the pool headlong. Beginners who invest large sums to receive what they think is the same cryptocurrency are left with nothing.
In case of “victory” over the doubler, it is recommended to use only those servers that offer small percentages (2-3% per day). There is no need to “scroll” the money several times either. It’s better to do it once, withdraw and invest further amounts. This will be more reliable, and you definitely won’t get burned out.
The operating principle of doublers is based on the arrival of newcomers to the system who invest money. In this case, payments to existing participants continue. But such servers later turn into scams and are forgotten.
Earning money from honest services is not built on the principle of a pyramid, like future scams, but on the principle of how deposits work in official financial institutions, where they pay a small percentage on the account balance. In order to earn 1 bitcoin per week, you need to invest 15.
- Casino.
There are small lotteries or casinos on Bitcoin faucets. With an accumulated amount of several hundred Satoshi, you have the opportunity to win at the casino and earn currency for free.
- Exchange.
Traders no longer want to earn one bitcoin a week. They want the same results in a few days or even hours. Trading takes place according to standard market system: We buy cheaper and sell more expensive.
The exchange rate does not depend on any influences. the main task trader - do not panic when the rate begins to decline rapidly. Just wait until the price rises again and sell. For your patience you will receive very decent money.
Since the advent of cryptocurrency, many users have wondered how to mine 1 Bitcoin. If previously the form of earning money was available to beginners, now the extraction of currency has become more complicated. It has become a difficult hobby for amateurs, but a real professional income. To make a decent profit, you need powerful equipment and special knowledge from the miner.
If you need to earn 1 Bitcoin, you can use one of the methods. Among the main options are:
- Working with faucets that distribute Satoshi for free.
- You can use faucets and earn up to $200 per month using BTC Free scripts or bots.
- If you have a certain amount, casinos and gaming grounds are used.
- Cloud mining is one of the effective methods making a profit.
Many methods of earning Bitcoins involve using sites where you need to enter a captcha and collect satoshis on a machine. You will need to run a special program on your PC and configure the bot. When choosing a way to earn money, it is better to invest in the acquisition of equipment and capacities of several resources at once. This will help secure your funds. It is advisable to divide the investments equally between 4-5 projects. If you can't make money on one or two, the rest will work.
Important! If you choose serious projects, you can count on making a profit of 1-5 Bitcoins per week.
If you use faucets, you can earn 1 Bitcoin in 3 months. With cloud mining, if gift power is used, 1 Bitcoin will be earned in a week, quite quickly. Earned funds can be converted into regular money using numerous exchange offices. The most favorable exchange rate is offered on the xchange.cc resource. You can transfer money from one currency to another in a few seconds, in more than 20 directions.
How long does it take to mine 1 Bitcoin in 2019?
If you want to get 1 Bitcoin in 2019 quickly and with minimal resources, you should be prepared for material expenses and negative psychological aspects. A miner planning to mine currency at home will need to provide the following:
- Uninterrupted Internet operation.
- Stable supply of electricity.
If one of the factors is violated, there is a risk of experiencing an interruption in the work associated with the generation of Bitcoins. For cloud mining, these requirements are not important. To mine currency, you can rent equipment if you can’t buy new professional devices. To receive one Bitcoin per week you need to purchase Gigahash. It will cost 0.0006 Bitcoins.
Important! In the process of earning Bitcoins, you need to adhere to the rule - as much as you invest, you will receive as much. Earnings depend on the amount of invested funds.
How to earn 1 bitcoin per month?
If you invest money in sites that use cloud mining, you will need to wait more than one month to make a profit. To speed up the process and receive one Bitcoin per month, it is not enough to choose the appropriate method; it is worth using methods to speed up the process. Here are the most effective:
- Purchasing a cryptocurrency doubler;
- Using a familiar casino, outside or inside faucets.
Doublers are services that offer 2-3 times the amount of money invested. Professionals advise using sites that offer a small percentage of 2-3% per day. Earning money will take a little longer, but you can avoid risks. How long it takes to mine a cryptocurrency, how long it takes to get one Bitcoin, depends on the equipment used.
How to quickly earn 1 Bitcoin in a day?
One of the popular methods of making a profit in one day is a special online casino. This is an ideal opportunity to get rich quickly, but there are quite big risks. Receiving Bitcoins is purely a result of luck. To receive 1 Bitcoin per day, you need the favor of fortune and free cash. Among the benefits of earning money are:
- Different ways to withdraw received funds.
- Transparency of game conditions.
- Equal conditions for all participants.
- 1 Bitcoin can be mined in one day.
You need to select a specific service based on positive reviews and a good reputation. After choosing, register and select suitable type games.
Among the popular gaming houses that provide the opportunity to solve the question of how to earn one Bitcoin per day, the following stand out:
- 7bitcasino is a gaming resource that rewards participants with up to three btc and provides a huge number of different bonuses.
- mBitCasino is a site where there are many different games and a rich bonus program. The amount credited to the account after registration is automatically increased by 110 percent. Beginners are given the opportunity to make additional moves.
- 999dice is a resource for those who want to earn a lot of bitcoin in just a day. Programs are offered that allow you to quickly increase the amount in your account. Players will need to register and technical staff The site will help all interested visitors at any time.
Modern advanced users have been making money in virtual casinos for a long time. There are those who consider this type of earnings adventurous, but there are many people who completely justify this type earnings. If you put in some effort and apply winning techniques, you can easily and simply earn money - the treasured Bitcoins.
Conclusion
There are many places where you can earn Bitcoins. How long it takes to mine 1 Bitcoin depends on the chosen method. When choosing a technique, you should rely on reviews and the reputation of the chosen resource. Many choose to trade virtual currency in 2019 on exchanges, some work on HYIPs or on the difference in rates.
If you want to replenish your budget with Bitcoin, you need to choose the most thoughtful strategy.
In 2017, even people who do not have access to the Internet know what Bitcoin is. And active network users have information not only about the features and rapidly growing rate of bitcoin, but also about the specifics of the issue of this cryptocurrency, namely, the ability to mine it independently. Therefore, it is natural that in stores selling powerful video cards, from time to time there is a shortage of hardware - people buy up cards to create their own Bitcoin farms and mine cryptocurrency on them. But to make a profit from mining digital coins, purchasing a card with a high hashrate and installing it on your PC will not be enough. You also need to understand how a Bitcoin farm works, how to assemble it yourself, and how to start mining. Let's try in simple words answer these questions, and also tell you how to assemble a bitcoin farm for 50,000 rubles. And we’ll figure out separately whether it’s possible to earn bitcoins by playing virtual games with the withdrawal of money.
Bitcoin farm: what is it in simple words and how it works and produces cryptocurrency
The custom of calling computers used for cryptocurrency mining “farms” came from the United States, because it was American miners who, when communicating with each other, jokingly began to call their PCs equipped with several video cards that way. Now the term Bitcoin farm is used all over the world, and in any country this phrase means computers connected to one network with powerful equipment connected to them, on which digital coins are mined.
Theoretically, processors, video cards, and specialized equipment - ASIC miners - can be used as hardware for Bitcoin mining. But in practice, the power of the processor and even a gaming video card today is no longer enough to mine the most expensive and popular cryptocurrency. Therefore, bitcoin farms that bring in stable income high profits, work at the power of the latest ASIC models.
If you answer the question, a Bitcoin farm - what is it in simple words and how does it work, then we can say this: it is one or more interconnected powerful cars that mine Bitcoin. Of course, a Bitcoin farm must always be connected to the Internet, because all operations to create new coins are carried out online. And due to the fact that in the Bitcoin system one new block, which today brings 12.5 coins, is mined on average in 10 minutes, computers must work around the clock. The reason for this is simple - 24/7 mining maximizes the chances of solving each new block before other miners do.
Software tasks performed by a Bitcoin farm
The Bitcoin farm has only one task - to solve a new block before other miners and thereby earn a reward for its owner. That is why the characteristics of the processor, motherboard, RAM and hard drive of the computer on which mining is carried out do not play any role. But the performance of video cards or ASICs, which are used to mine cryptocurrency, is key. The fact is that both the complexity of bitcoin mining and the number of bitcoin farms are increasing every day, and in order to successfully compete with other “diggers” of electronic coins, you need to have very powerful equipment with a high hashrate.
Mining itself, from the point of view of the software problems being solved, represents the following sequence of actions:
- The Bitcoin system provides all miners with the hash function of the new block, and some of the hashing characters were taken from the previous, newly created block, and the other part were arbitrary.
- Software equipment installed on mining farms all over the world solves a new block in parts by enumerating numbers - that is, it selects characters that would fit a given hash function (for reference, each block contains tens of thousands of characters, and the hash - the function is a chain of several dozen characters).
- When any mining farm manages to solve a block, it will immediately be entered into the blockchain, and the system will give miners a new hash function that must be solved to obtain a new block.
- For a solved block, the miner who extracted it receives a reward of 12.5 btc. Those who did not cope with the task simply begin solving a new block.
According to the principle described above, new blocks are created not only in bitcoin, but also in other cryptocurrency systems. Only the hashing algorithms differ: BTC uses SHA-256, Ethereum uses Ethash, Litecoin, Dogecoin and Digitalcoin uses Scrypt, etc.
On video cards you can mine cryptocurrency with almost any hashing algorithm, the main thing is to install the appropriate software on your computer. But ASIC miners are initially “tailored” to a specific algorithm, so each model is suitable for mining a limited number of electronic currencies.
Bitcoin farm - how to start mining digital coins
Considering cryptocurrency mining as a way to make money online, novice miners first of all wonder how a bitcoin farm is assembled and how to start mining bitcoins on it. In fact, there is nothing complicated in assembling a mining farm for bitcoins or any other cryptocurrency, and any user who knows how to connect other equipment to the motherboard will be able to complete the farm in less than an hour.
Assembling a small Bitcoin farm involves removing the case from the computer system unit and installing it on a rack made in the form of a frame, and then connecting it to the motherboard via video card risers and placing them on the rack at a distance of at least 10-15 cm from each other. Since powerful video cards require additional power, they come with special wires through which the cards installed on the motherboard are connected to the power supply.
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