Bitcoin mining - what is it and how to mine bitcoins on a home computer + TOP-5 programs for bitcoin mining
Hello, readers of the online magazine "Rich Pro"! Today we will talk aboutBitcoin mininghow to mine bitcoins on a home computer; what programs and equipment for bitcoin mining exist.
From the article you will learn:
- What is the process of mining bitcoins;
- How to mine bitcoins on your home computer;
- What hardware and software (software) for bitcoin mining to choose.
The answers to these and some other questions will surely be of interest to all those who are in search of effective and affordable income on their home computer.
You will learn about what Bitcoin mining is, how to start mining bitcoin and what equipment and software for mining bitcoins - in this issue
1. What is bitcoin mining and how does it work - an overview of the concept
In recent years, investments in bitcoins (BTC) have turned into a real gold mine. Last year alone, the value of the world's most successful cryptocurrency has grown more than 5 times.
Investing in electronic money today is regarded by experts as one of the most profitable investment options. There’s only one thing, It’s getting harder and harder to mine or mine bitcoins every day.
Before we begin to consider how to mine cryptocurrency at home, we need to define the basic terms and understand what it means to mine bitcoins.
Mining Bitcoins- This is the process of performing a certain sequence of actions of miners aimed at ensuring the stable operation of the blockchain system for a fee.
This activity is voluntary, and the ability to operate the entire Bitcoin network depends on it.
Mining is designed to solve the following problems:
- Cryptocurrency Making - involves the creation of digital blocks, which are the basis of the entire system;
- System Maintenance - conducting authentication scripts of transactions.
According to the results of successful work, miners receive share premium. The system pays it for each new block created by users. Today, bitcoin mining is the only way to manufacture and transfer this cryptocurrency into circulation.
Table of changes in the size of remuneration of miners from 2009 to 2016:
Year | The amount of remuneration |
year 2009 | 50 BTC |
year 2012 | 25 BTC |
In the summer of 2016 | 12.5 BTC |
As can be seen from the above table, the size of the remuneration of miners is gradually falling.
However, given the fact that cryptocurrency quotes over the past few years have grown practically 1,000 times, not a single "Internet miner" regretted the chosen field of activity.
The PTS system today brings together several hundred million members from around the world. Of these, the percentage of miners is no more 20%.
Miners become those who are ready to collect, verify and authenticate new transactions using a computer, followed by the creation of new blocks from them and entering them into the user registry.
For a variety of reasons, not every PC user can earn on cryptocurrency mining.
The difficulty of mining bitcoins is as follows:
- The creation of each new block is a laborious work, the implementation of which requires serious computing power;
- Average production 1 block the whole network spends bitcoin about 10 minutes. This time does not depend on the number of miners and the PCs they use;
- It is often unprofitable to mine cryptocurrency at home, as the power of one computer is not enough to carry out the necessary calculations.
A few years ago, even the simplest laptop or stationary PC was enough for cryptocurrency mining. But that golden time has sunk into oblivion.
Today, artisanal (independent) mining no longer brings serious profit. The reason for this was the entry into the market of special equipment designed for the extraction of bitcoins. In particular, we are talking about products of the ASIC trademark.
Important to understand that today mining is a serious profession that requires Not only training, but also serious investment in the purchase of expensive equipment.
The so-calledmining farms, which are real computer centers created specifically for cryptocurrency mining. In China, entire mining enterprises have been created with a staff of skilled workers and managers.
In order to compete with large miners and eliminate the factor of randomness in the development of bitcoins, lone programmers are united in pools - Cryptocurrency mining communities.
2. Why are miners on the Bitcoin network needed - 4 main reasons
According to rough estimates of power engineers, miners spend such an amount of electricity in the process of digital money production for a year that is comparable to the consumption of a small country from Central Asia. However, all costs pay off with interest.
Currently, stopping the mining process is already unrealistic. Every day, the demand for electronic money is growing, and there is no other way to issue bitcoins and other cryptocurrencies.
Specialists highlight 4 key reasonsthe need for miners when mining cryptocurrencies.
Reason # 1. Mandatory confirmation of each transaction
Absolutely all user operations must be authenticated before entering the block.
For the coins to become available for use, the miner must accept the transaction and wrap it in a block.
Reason number 2. Protect your network from false information
In the event that hackers attempt to conduct a false transaction on the network, the system will be able to block it even at the stage of block formation.
Purely theoretically, a system can be fooled, but for this it will be necessary to introduce a whole fake block into it. This will require availability cryptographic signaturewhich is generated using data from the old block.
Of course, it can be calculated independently by performing complex calculations for this. But why waste time, effort and power on tricking the network, if you can use them for completely legit mining?
Reason number 3. Protecting the Bitcoin network from malicious attacks
Using their own cryptographic algorithms, miners protect the system from hacker attacks. The so-called Attack51in which, in theory, attackers get 51% all the computing power of Bitcoin.
However, even in this case, hackers will only be able to carry out operations with the blockchain wallet or slow down the remaining transactions. These actions will not bring much harm to anyone.
Reason number 4. Bitcoin network decentralization support
The main advantage cryptocurrency is her decentralization. Due to the lack of a single repository of information, cryptocurrency transactions cannot be controlled by anyone except the system itself.
Must be understood! Miners scattered around the world only provide assistance in conducting transactions. And even shutting down most of the computers will not be able to stop operations, since information is simultaneously stored on all devices connected to the network.
Step-by-step instructions on how to mine bitcoins - 5 simple steps before starting mining
3. How to start mining (mining) bitcoins - a step-by-step guide to mining bitcoins for beginners
A few years ago, the availability of cryptocurrency was enough 4-8 nuclear processorlater there was a need for video cards.
Special farms assembled from several video cards made it possible to mine cryptocurrency and performed the task of decentralization. However, every day even they become more and more useless.
Today, it is increasingly used for mining bitcoins. professional equipment ASIC - Computing chips designed specifically for the extraction of digital money and characterized by high power and performance. However, even such chips need enormous energy and time costs.
Those who decided to earn money on mining, the pros and cons should be carefully weighedcalculate the planned costs and profits.
It is likely that the cost of electricity and the purchase of equipment will not be able to pay off. In this case, experts recommend considering alternative options for cryptocurrency mining.
So, eg, most of yesterday's miners have already switched to earning through cloud miningin which the extraction of digital money is carried out remotely (not on their own, but on leased equipment). That's just cloud mining is fraught with a lot of difficulties.
The main problem is that there is a big risk of running into scammers. Currently, the network has a huge number of projects that are not mining farms or pools, but are just intermediaries or investment funds that have a limited lifespan.
Compiled by us step-by-step instruction for making money on bitcoins will help beginners to avoid mistakes.
Step number 1. Choosing the right service for mining bitcoins and registering on it
The success of the whole event largely depends on how competently the choice is made.
When selecting a service, you should pay attention to the following indicators:
- Project lifetime
- The size of the commission for the withdrawal of mined bitcoins;
- The presence of feedback;
- Participation in the project of famous pools;
- Service status;
- Reviews about the project in professional forums.
After the choice is made, you must go through the registration procedure on the site.
Step number 2. Choosing a pool for mining bitcoins
When choosing a pool, you should focus on the size of the commissions used for the extraction of the program, as well as methods for calculating remuneration.
It’s worth considering that some cloud mining sites provide their users with a limited list of pools with which they collaborate. Miner can either accept this choice or go in search of another service.
Step number 3. Choosing a program for mining bitcoin
Most cloud mining services themselves provide their members with up-to-date software. However, experienced miners recommend that beginners additionally use special software to monitor the performance of the PC processor.
The most popular mining programs are CCMiner, CGMiner, 50Miner, DiabloMiner.
Step number 4. Setting up and running the program
Specialized services provide their members with detailed and clear instructions for setting up, running, and working with software.
In case of malfunctions in the program, users should not try to fix them on their own - you should contact the project consultants for help.
Step number 5. Bitcoin mining and its withdrawal into electronic or fiat money
Cryptocurrency mining is carried out automatically, for this, the PC must work throughout the day. The speed of receipt of digital money to the account of a bitcoin wallet will depend on the processing power of the equipment used.
For each miner, the transfer of PTS to real money is a serious matter. For these purposes are used special exchangers, of which several hundred work on the Internet today. But not all of them are reliable.
In order to choose the most profitable one out of the many currently existing cryptocurrency exchangers, experts recommend take advantage exchanger monitoring services.
One of the best cryptocurrency quote comparison sites isbestсhange.ru. The site independently searches for the most profitable cryptocurrency rate at the moment, and also shows the available reserves of exchangers and provides the services of a calculator.
For convenience, a comparison of traditional and cloud mining is presented below in table form.
Table of comparative analysis of cloud and classic mining (farms for mining cryptocurrencies):
No. p / p | Comparison options | Cloud mining | Mining Farms |
1. | Expenses | Minimum (funds needed to buy a hashrate) | High (funds needed to purchase special equipment) |
2 | Payback | A few days | 6 to 12 months |
3 | Expected income | Average | High if the farm has high productivity |
Further in the section, we will take a closer look at what a mining pool is and how to choose it.
4. What is a pool for mining bitcoins and how to choose it + TOP-9 popular mining pools 🗒
It will not be superfluous to repeat once again the meaning of the concept of “mining pool”.
Mining pool - This is a specialized community of miners engaged in the joint extraction of digital money. In this case, the reward is distributed between its participants according to the provided hashing power of each of them.
Each miner can use any pool. The choice of a community depends solely on the user and the tasks that he sets for himself.
The most popular mining pools are:
- Antpool- A community of miners created in China. Supported by the manufacturer of hardware and software for miners Bitmain. The production for all new blocks is 15%;
- DiscusFish / F2Pool - The community base is also located in China. Over the past six months alone, the mining of this pool amounted to 12%;
- Bitfury pool - the community was created by the largest manufacturer of equipment for mining bitcoins - the company Bitfury. Today, this private pool is mining order 12% all bitcoins;
- BTCC - The third largest community of miners in China. The percentage of production of this pool is about 7%;
- ViaBTC - The pool has its history since 2014, its base is also located in China. Community mining currently stands at 8% of the total number of all new blocks;
- Top - A new and rapidly growing pool. It is considered a private community that does not have its own website;
- Slush pool - is officially the first pool in the world. Its base is located in the Czech Republic. Community accounts for about 6% mined bitcoins all over the planet. It is considered one of the most trusted and trusted pools in the world;
- Network - the largest pool in the world specializing in the production of various cryptocurrencies;
- GBMiners - quite a good pool from India, it accounts for 5% mined digital media.
In the event that you are not satisfied with the pools, and you are determined to mine yourself, we recommend that you try the official client BitcoinCore (BitCore). It is easy to use, making it ideal for single miners.
3 reliable bitcoin cloud mining sites
5. Cloud mining bitcoins: 3 most reliable bitcoin mining sites through the cloud
Specialists highlight 3 cloud mining servicesthat are considered the most reliable and time-tested.
1) Hashflare
Modern and convenient cloud mining service with full support for the Russian language and instant connection. The service pleases users with a quick withdrawal of funds received, as well as detailed statistics.
There are no hidden commissions in the project, power is distributed across different pools, and technical support experts answer questions without delay. The minimum withdrawal amount to the wallet is 0,0004 BTC. In addition to bitcoin, the service is mining the following cryptocurrencies - DASH, ZCASH and ether.
2) Hashing24
This service has been in the TOP of cloud mining leaders for the past months. The project is an ideal option for professional and experienced miners.
Hashing24 service has the following advantages (+):
- many different ways to replenish your account balance;
- regular withdrawal of funds;
- operational technical support.
TO cons (−) The project can be attributed to the lack of a Russian-language version of the service, as well as the ability to mine only bitcoins.
3) Genesis Mining
With full right is considered the oldest cloud mining service in Iceland are 3 company data center.
The project is designed to provide users with production facilities. Bitcoin, as well as other cryptocurrencies (Zcash, Ethereum, Monero). The user-friendly control panel interface will be useful for beginner miners.
The absence of problems with charging and withdrawing funds leads to a large number of users of this service and positive reviews about him on various thematic forums.
The most popular programs for mining bitcoin (Bitcoins) - BFGMiner, 50Miner, Ufasoft Miner, CGMiner, DiabloMiner
6. How to mine bitcoins on a home computer - an overview of the TOP-5 programs for mining bitcoin on a home PC
Before you start mining bitcoins on your computer, you need to select the appropriate programs. The choice of this or that software should be carried out in accordance with the capabilities of the system and the capacities used.
Experts recommend also use special monitoring software which will allow you to monitor the performance of the equipment.
Downloading Bitcoin mining software is best from official sources. So, below is a list of the most convenient and popular digital coin mining programs.
1) BFGMiner
1. Bitcoin mining program - BFGMiner
The software is an excellent solution for both beginners and professional miners.
The pluses (+) of this program include:
- the ability to work with video cards and FPGA devices;
- the ability to control the speed of rotation of PC coolers (fans);
- convenient setting of pools;
- support for RPC, scrypt.
2) 50Miner
2. Bitcoin mining program - 50miner
This Bitcoin mining program is one of the most popular Bitcoin mining software. It allows you to work with cryptocurrencies such as Litecoin and Bitcoin.
The benefits The programs are:
- simple and quick registration and authorization;
- the ability to use the program without installing it on a computer (using a portable storage medium);
- the ability to work with multiple miners - Cgminer, Phoenix, Diablo, Poclbm;
- the program settings made are saved in the configuration file.
3) Ufasoft Miner
3. The program for mining BTC - Ufasoft Miner
Using the Ufasoft Miner program does not cause users any difficulties with its installation and configuration.
The advantages of the program include:
- support TeneBrix, Roll-NTime, BitFORCE, and SolidCoin;
- the ability to independently configure the parameters of the PC video card;
- pool address change function;
- user login and password data, as well as the number of threads and cores involved, can be easily changed if desired.
4) CGMiner
4. Bitcoin mining program - CGMiner
The software is designed to be installed on powerful PCs and is designed for experienced users.
Among the pluses (+) of the program are the following:
- overclocking support for a PC video card;
- simple setup of the system and pools;
- the possibility of obtaining the maximum value of MH / S.
5) DiabloMiner
5. A program for mining bitcoins on a computer- DiabloMiner
This bitcoin mining program is designed for experienced users who use a powerful PC to mine cryptocurrency.
The advantages of software include:
- the ability to independently configure pools;
- video card support (AMD, Nvidia) and operating systems (Windows, Mac, Linux);
- the presence of the function of switching the processor (CPU) and video card (GPU).
In the section below, we will consider what equipment for bitcoin mining exists and what is their difference from each other.
Types of equipment for mining bitcoins - an overview of ASIC miners, video cards and usb miners
7. What equipment for mining bitcoins to choose - an overview of the best ASIC miners, video cards and usb miners 🎛
As already mentioned above, the miner's reward is directly proportional to the processing power that the user can provide for the network.
Important! For this reason, it is safe to say that the quality of the equipment and software used is the basis of the future wealth of the crypto miner.
At first, miners used central processing units(CPU). However, with the growth of the network, they ceased to cope with the mining of bitcoins and switched to the category of obsolete equipment.
Gradually, the mining industry switched to graphic processors (GPU) - computer graphics cards.
Mining Farm on GeForce Graphics Cards
With their help, it was possible to speed up the process of hashing almost 100 times and at the same time slightly reduce the amount of electricity consumed.
Today, more and more often are used for mining user programmable Gate Arrays (FPGA) and specialized integrated circuits (ASIC).
Farm for mining bictoins from Antminer s9
However, despite the appearance of more modern equipment on the market, cryptocurrency mining using video cards is still being carried out all over the world (in particular, due to the possibility of mining other cryptocurrencies).
The best ASIC miners are:
No. p / p | ASIC Model | Cost |
1. | Antminer s7 | from 450 $ |
2. | Antminer s9 | from $ 2,250 |
3. | Avalon6 | from 450 $ |
4. | CoinTerra TerraMiner IV | from $ 1,500 |
The best ASIC miners for bitcoins are:
No. p / p | ASIC Model | Cost |
1. | Antminer s5 | from 130 $ |
2. | Antminer u3 | from 80 $ |
3. | ASICMiner BE Tube | from $ 280 |
4. | ASICMiner BE Prisma | from 550 $ |
5. | Avalon 2/3 | from $ 2 950 |
6. | BTC Garden AM-V1 | from 320 $ |
7. | VMC Platinum 6 Module | from $ 8 940 |
In addition, now on the market for mining equipment you can buy USB miners for bitcoins that have an affordable price, compact size and quietly work. True, the performance of such devices is very small.
The most popular USB miners are:
No. p / p | USB miner model | Cost |
1. | Antminer u2 | from 50 $ |
2. | BPMC Red Fury USB | from 40 $ |
3. | Gekkoscience | from 50 $ |
4. | Avalon Nano 3 | from 50 $ |
Among the best video cards for cryptocurrency mining are:
No. p / p | Graphics card model | Cost |
1. | Gigabyte Radeon RX 560 (4 GB) | From 13 000 rubles |
2. | ASUS Radeon RX 580 (4/8 GB) | From 20 000 rubles |
3. | Gigabyte Radeon RX 570 (4 GB) | From 20 000 rubles |
4. | ASUS Radeon RX 570 (4 GB) | From 21 000 rubles |
5. | Gigabyte GeForce GTX 1070 (8 GB) | From 39 000 rubles |
6. | ASUS GeForce GTX 1070 (8 GB) | From 34 000 rubles |
7. | Gigabyte GeForce GTX 1080 (8 GB) | From 35 000 rubles |
8. | MSI GeForce GTX 1080 (8 GB) | From 50 000 rubles |
* notethat the cost of equipment is indicated at the time of this writing. Check prices with sellers of this equipment.
In the past few years, Russian miners have faced a serious problem - graphics card shortage. Large chain stores of computer equipment and the media instantly blamed miners for the situation.
It is quite obvious that there is some truth in this, since our compatriots are interested in the cryptocurrency mining process with great interest.
8. How to choose the right equipment for mining bitcoins - 4 tips from experts
So, is it profitable to mine bitcoins using a computer? Experts believe that to give a definite answer to this question impossible.
However, undoubtedly such a method of mining bitcoins can be profitable for those network participants who have unlimited access to software and free electricity.
This category of persons includes:
- students as well as schoolchildren;
- computer center specialists;
- avid gamers who have powerful equipment at their disposal;
- organizations somehow related to cryptocurrencies.
We recommend that you use professional advice, which can be useful for increasing the efficiency of mining at home.
Tip number 1. The amount of internal memory should be sufficient
According to experts, the amount of internal memory should be no less than 4 GB, and better 6-8 GB. This amount of memory is enough with a margin for the successful mining of any cryptocurrency that currently exists.
Ideally, a home computer should be used exclusively for mining. This avoids problems such as PC virus infection or out of memory for fast and error-free operation of mining programs.
Tip number 2. It is worth considering such a parameter as the size of RAM
For the successful extraction of cryptocurrency in the coming years, it is necessary to have the amount of RAM (RAM) no less than 4 GB.
This indicator should be sufficient for the correct and fast operation of the operating system and mining program.
Tip number 3. Equipment must be purchased only with a warranty period and certificates
Experts do not recommend purchase equipment from dubious suppliers or from hands. Ideally, it should be purchased at an official point of sale and have a guarantee.
In the event that for some reason the video card or processor cannot provide the power declared by the seller or fail, they can always be exchanged for a new one or return the money spent.
Tip number 4. Pay attention to the cooling system
For the mining process to be cost-effective, equipment operation is required (PC, video cards, microcircuits) at the limit of the capabilities laid down by the manufacturer. This requires additional energy consumption from him, and as a result, equipment overheats.
In turn, exceeding the maximum permissible temperature can lead to a halt in the work and premature wear of parts. Therefore, the issue of cooling is very important for any miner.
There are several options for solving the issue of additional cooling:
- oil cooling;
- water cooling (water blocks);
- use of fans, coolers, risers;
- timely replacement of thermal paste;
- indoor air conditioning;
- forced extraction of hot air and purging of the system.
Do not forget that that the room should not be forced by anything superfluous, and its cleaning from dust should be regular and of high quality.
9. Frequently Asked Questions (FAQ)
Question 1. How to get bitcoin on a GPU and is Bitcoin mining on a video card?
Yet In the middle 2016 of the year many miners complained that it became almost impossible to mine bitcoins on video cards, there simply was not enough capacity to solve new blocks.
Moreover, even specially assembled farms for carrying out operations in the network spent an unacceptably long time and electricity, thereby completely not recouping the costs of their acquisition and operation.
Good to know! Bitcoin mining problems have worsened since the sharp jump in BTC quotes in recent years. It accordingly caused increase number of minerswho want to make money "easy" in their opinion money at home.
The situation that has arisen entailed difficulties in the extraction of digital money and as a result - mining bitcoins on a video card has turned into an absolutely hopeless occupation.
However, those who want to make money on cryptocurrency mining should not despair ahead of time.
There is an opportunity to start mine BTC in the pool. Solving problems of solving new blocks in the pool is distributed among all miners and does not require huge capacities from each participant.
In addition, Bitcoin is not the only digital currency on the network. In addition to BTK, there are other highly liquid cryptocurrencies on the market.. Due to their lesser popularity, a much smaller number of miners are engaged in their mining, and colossal capacities are not required to perform computational operations on them.
Experts advise owners of powerful video cards who decide to master the profession of a miner, pay attention to cryptocurrencies (digital money), such as - Monero, Dash, Ripple, Litecoin, ZCash.
Question 2. What is the difference between the extraction of classic bitcoin from mining bitcoin gold?
The standard cryptocurrency is “mined”, as already mentioned, on ASIC miners, and bitcoin gold is mined through video cards.
Question 3. What is browser mining of bitcoins and why is it needed?
To begin with, we’ll decide What is the concept of “browser mining”?
Browser mining - This is the process of mining cryptocurrency using a special code (script) that is embedded on the website.
Visitors to such a resource, launching a site, simultaneously launch a program that produces cryptocurrency, using the power of remote computers of careless users.
Most experts evaluate browser mining exclusively as malware, which is embedded by hackers in the installation files on many dubious resources.
Currently, amid the constant growth of cryptocurrency quotes, many unscrupulous webmasters are actively looking for ways to earn money on visitors to their own sites.
However, no owner of an online resource, who values his own reputation will not add similar functionality to your site. After all, most of the users of the resource, having learned that they are earning money on it and at the same time do not ask permission, will simply stop visiting it.
It is quite possible to protect yourself from the actions of unscrupulous miners. Below are the possible options that will protect the owner of the PC from mining bitcoins in the browser.
Among the ways to protect against mining in a web browser are:
- Editing the hosts file. This method requires certain administrative skills;
- Disabling JavaScript in the browser and enabling it only on trusted resources;
- Installing special software or adding a filter to uBlock and AdBlock.
Given the fact that hackers regularly improve malware, it is best to periodically update protection from web mining.
Protection should be taken care not only of website visitors, but also of their owners. For an experienced hacker, it costs nothing to introduce extraneous code onto an Internet resource.
Despite the fact that miner scripts allow you to use only part of the power of a remote computer, attackers do not miss even such an opportunity to earn money.
Question 4. Why do I need a profitability / profitability calculator for Bitcoin mining and how is the cost recovery for mining calculated?
Bitcoin mining profitability (profitability) calculator
To calculate the profitability of mining on ASIC equipment, you can use a special calculator.
Bitcoin mining calculator - this is a tool with which you can not only calculate the most accurate profitability at a particular point in time, but also predict the profit margins for several months in advance, as the forecast takes into account the increasing complexity of the network.
The profitability calculator interface includes access to all popular ASIC equipment models with a complete list of their technical parameters.
The user only needs to selectASIC minerenter device hashrate, power consumption data and set in a special field estimated cost of electricity(for each region of the Russian Federation this indicator will be different). After that, press the key "Payment".
This is how the mining calculator Bitcoin from the resource bitmakler looks - to calculate the profitability, enter all the data in the fields and click the button - Make a calculation
The calculator will instantly provide complete information on current profitability and electricity costs (per day, week, month) in the form of a table, and also automatically converts digital money into dollars, rubles or euros.
In fact, the cryptocurrency earnings calculator is a convenient software that allows you to maximize the process of choosing equipment for the extraction of bitcoins and other electronic money. Now you do not need to carry out complex calculations - the program will do everything for you.
Question 5. What is the difficulty of mining bitcoin?
Mining difficulty - This is a special parameter of the cryptocurrency, designed to regulate the speed of finding a new block in the Blockchain network. This indicator is automatically recalculated after a certain period of time, which is different for each cryptocurrency.
The complexity indicator performs the following functions:
- prevents the ability to quickly find a large number of new blocks with one miner;
- reduces the speed of issuing digital money;
- exclude the possibility of a significant amount of cryptocurrency being concentrated in the wallet of one network member.
Bitcoin Feature, like any other cryptocurrency, it is that the total number of coins mined is limited to a certain number specified by the program code.
So, the maximum number of BTC is 21 million coins, and the last bitcoin will be mined only at 2140 year. To date, the issue fee for each new block is 12,5 BTC
Moreover, in accordance with the program code, the search for a new block should take about 10 minutes. After every 2016 blocks found (which takes about 2 weeks), the bitcoin mining difficulty indicator is recalculated.
Example: Speed up creation 2016 new blocks (less 2weeks) means that an increase has occurred total processing power Bitcoin mining devices. This is a signal to automatically increase difficulty indicator.
Slowdown 2016 blocks (more 2weeks), on the contrary, indicates a decrease total computing power devices and leads to a decrease difficulties Bitcoin mining.
In this way, There is a strict regulation of the process of mining new coins.
After Bitcoin is created in the system 210 000 new blocks (this will require about 4years), the size of the issue bonus of the miner for new blocks declining about 2 times.
Every year an increase in the number of people wishing to mine BTC inevitably leads to an increase⇑ competition between miners for a reward, the size of which, as you know, is not only limited, but decreases every year⇓.
However, despite the high rates of mining complexity, the BTC mining process is very an attractive way to make money on the Internet. This is due to the strong growth in the exchange rate of bitcoin against fiat money.
10. Conclusion + video on the topic
To summarize all of the above, it should be noted that classic mining of bitcoins on video cards today is almost completely a thing of the past. However, do not rush and put up for sale expensive equipment, since it can be used to actively mine other types of cryptocurrency.
Of course, mining is the same lightcoins It is unlikely to bring big profits, but at the same time it can become quite a good help as a means of additional income.
The least expensive form of earning on bitcoins is cloud mining, which represents the rental and extraction of currency on remote PCs.
This method of obtaining digital funds cannot be classified as highly profitable, while there is always a risk of running into scammers and unscrupulous servicesthat cash in on gullible users.
The choice of a service for cloud mining should be carried out without haste, thoughtfully, based on reviews posted on professional forums.
In conclusion, we recommend watching a video about Bitcoin mining:
The team at Rich Pro hopes that this material has proven useful to you. Good luck with Bitcoin mining!
Do not forget to leave comments and comments on the topic, as well as share material on social networks. See you soon!