What would be good for investing in bitcoin mining?
- Thread starter Mykel
- Start date
Mining rewards are paid to the miner who discovers a solution to the puzzle first, and the probability that a participant will be the one to discover the solution is equal to the portion of the total mining power on the network. Participants with a small percentage of the mining power stand a very small chance of discovering the next block on their own. For instance, a mining card that one could purchase for a couple of thousand dollars would represent less than 0.001% of the network's mining power. With such a small chance at finding the next block, it could be a long time before that miner finds a block, and the difficulty going up makes things even worse. The miner may never recoup their investment. The answer to this problem is mining pools. Mining pools are operated by third parties and coordinate groups of miners. By working together in a pool and sharing the payouts among all participants, miners can get a steady flow of bitcoin starting the day they activate their miner. Statistics on some of the mining pools can be seen on Blockchain.info.
Choosing between buying hatching power online and setting up your of is palatable, setting up your own will always be the best, but the cost is to high... Buying of hatching power is good but most sire are scams.. So, if you are going for the hatching power buying, do your due diligence very well first.. Good luck..
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
You cannot just start a mining pools alone as you know obviously it requires a lot of people before you can successfully set up a functional mining pools and I also require a lot of money but I don't know the procedures that you need to take on how it work and how to start you can search it on Google and gather the information you need to get started.
I no longer use cloud mining sites, because even though they are legitimate but our income is too slow, Bitcoin mining uses hardware and setup your own device, this is quite good as long as electricity costs in your country are cheap, after all, you would be better off joining a mining pool so it will be more profitable than solo mining.
If you would really want to earn from mining, the best is to join a mining pool, that's the best I can advice cos mining with phone doesn't give significant returns from the ones I've done in the past. You can visit block chain website to see mining platforms and the percentage they are mining
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
For small investors, I do not think Bitcoin mining can be profitable. Bitcoin mining rigs are very expensive and bitcoin mining consumes a lot of electricity. Mining on PC is no longer viable.
The best way to make good amount of coin in the crypto mining is to have your own personal equipment for miming. With this it will be very easy for you to decide how much you want to make per day
You can set up a phone mining farm with cryptotab. You may start with 10 phones and login with same username and password on all the phones or you connect them separately using your affiliate link. If you want to make more , buy hashrate.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
My name is cryptocurrency of any kind is one that actually involves a lot of energy and sophistication materials. You will have to invest a handful amount of money to start.
If you talk about mining then what I know you would only invest on is your time that you would spend mining and information as to how to go about your mining which can be gotten from mineio
I would NEVER advise anyone to invest in online cloud mining sites or any other site that promises mining hash power for a fixed fee. All of such kinds of mining platforms are scams in disguise.
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
I think investing on Bitcoin mining is a very good investment but before then it is better you look for someone who is legit cannot connect you.
If you want to actually go into Bitcoin or any cryptocurrency mining business at all, you should set up your mining farm instead if you are prepared for the cost it comes with.
I'd advise for now you stick to trading currencies first before you think of investing - that's the only reasonable way I see you can accumulate currencies before you invest in buying your mining equipment. That's the best way to go about it I feel you'll have no regrets
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
One can't mine reasonable amount of coin using application to mine any crypyo coin. The coins are not mined with software apps rather it is mind with some hardware components and also some powerful softwares.
Before you think of investing in any of those things you need to understand how it is being done before you go ahead for you to understand if your capital is enough for a start.
Investing in crypto mining could actually be good but the question is that are you ready to spend those times mining and being patient ?
Bizdustry Advertising
In-Conversation/Thread Advertising - Click Here to Advertise
The cost of having your own personal equipment to be mining bitcoin is actually very expensive so if you cannot afford it it is better you just invest your own money into other people that are already mining.
I think it's quite stressful, very expensive to buy mining machines so I would suggest you find legit online site where you buy power and mine easily.
After going through some comments I noticed people talking about joining a pool mining contract. I don't understand what that means and would really appreciate if anyone could explain it..
Newest Directory Listings
WWE Hub is a discussion forum for all things wrestling! Share and chat with other wrestling fans throughout the world!
ABCProxy is cost-effective, ethical residential proxies network!
