country flagالعربية

Learn To Trade

Different methods of Bitcoin Mining

27-08-2017 | No Views : 1461

Different methods of mining Bitcoin

Electronic coin "Bitcoin" mining is not something that many people use, but if you want to do so, we will explain to you in detail how you can do it.
Bitcoin mining is one of the best profitable deals ever, a very competitive area, and the constant volatility of the currency makes you aware that it is important to make big gains by speculating on the price.

The meaning of Bitcoin mining

Different methods of mining Bitcoin

In short, the process of adding transactions to the public record into past transactions is called the Professor of Past Transactions. The Shane Block, a series of blocks, is designed to be resource intensive and so difficult that the number of blocks is found every day by Miners are still fixed, these individual blocks should contain evidence of work that is considered valid.
The main purpose of mining is to allow Bitcoin to enter into a security and tamper-proof compliance agreement. Mining is a mechanism used to introduce Bitcoin into the system, supporting currency decentralization and motivating people to provide security.
This process is called mining because it requires effort and a long time such as extracting oil from the ground.

Difficulty of mining

We all know that only 21 million Bitcoin will be created at all times, so why are there problems with the release?
The answer to this question is due to the difficulty of the problem of proving the work according to the speed of solving blocks within a given time frame, which increases the difficulty and falls with the published retail power to maintain the average time between blocks up to about 10 minutes.

The profitability of Bitcoin mining

Bitcoin mining is a profitable process, but depends mainly on the head of the owner, because the most expensive currency Bitcoin, increasing the difficulty of mining more and more.
In order to understand this, it is necessary to use the computer for mining profits and calculate the percentage of profitability of different mining methods.

Bitcoin mining machinery


It was used in the early stages of the Bicoin, when the difficulty was almost non-existent, but the difficulty quickly increased as demand for Bitcoin mining increased.
Now you'll find a lot of mining software from your own computer, you'll go back for a year without earning a cent.

Graphics cards (GPU)


Graphics cards are also old ways of mining Bitcoin, the power of Hash produced by you will make you mining in 1 Bitcoin in about 100 years.
There are many, many new coins that can be mined in the previous two ways, but the Bitcoin is no longer fit for these years.

ASIC Miners

ASIC Miners
This device is priced at about 147 US dollars, the device is characterized by low price and a processor "SHA256" speed up to "336MH / s".
It can also double its speed by multiplying it by adding a number of them into an USB port to multiple ports using the USB HUB technology and connecting it to another unified data processing device called PiMiner Raspberry. It contributes to processing incoming and outgoing data, Larger.
All of the aforementioned mining devices are electronic devices that were not manufactured for mining, but these devices were specially designed for this purpose and can not be designated for other purposes.
These devices are aimed at mining only Bitcoin or any coin that operates with the same Bitcoin mining algorithm. The hardware inflexibility is offset by an increase of 100 in retail power while reducing power consumption compared to all previous technologies.
Unlike all previous generations of previous devices, ASIC may be "end-line" when it comes to mining technology CPUs have been replaced by GPUs that have been replaced in turn by ASIC tools. There is nothing to replace ASIC now or even in the near future.
And not even long to explain these devices, and the most device you can start in mining is:

Antminer s9

Antminer s9
This device is worth about 0.4 million per month, and the price ranges from 2500 Dollar to 3 thousand Dollar, is the most profitable devices compared to other devices with a strength of up to 13 Terra Hach.
To start mining with this device you need a power cable and costs about 200 Dollar, a mining program to connect the device to the computer such as CGMiner for Windows, RPC Miner for Mac.

Related topics

Know about the electronic currency "Bitcoin"

"Bitcoin Cash" is the natural evolution of electronic currency

Ripple .. your cheapest way towards electronic wealth

Ethereum .. A coin is on its way to change the world

Explanation of trading platform MetaTrader Advantage of forex trading
All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.