How am Main cryptocurrency and that it needs to
Educational Program Technologies / / December 19, 2019
What is Mining cryptocurrency
The essence of mining (from the word mining - mining) - kriptomonet creation of a special algorithm. On the computer generates a unique set of data (or block), which confirms the authenticity of payment transactions. The block consists of the hash of the previous block header hash transactions and a random number. Chain containing all of the transactions referred to blokcheyn.
For each found the block a reward. Different currencies it is different. For example, the oldest and most expensive cryptocurrency - bitcoins (Bitcoin, BTC) - it is halved every four years. Since 2016 the award was 12,5 BTC (about 32 thousand dollars), in 2020 there will be a decrease in its following.
Reward Ethereum unit (Ethereum, ETH) - 5 ETH (about $ 1 540).
The success of mining depends on the computing power of the computer, which is available for miners. The more, the higher the probability of getting a reward.
What is needed for mining
1. Putting equipment
- Graphics card (GPU) - a modern, not the budget. And it's better than one, but several.
- Computer (farm) with an efficient cooling system, a motherboard with the maximum possible number of slots for cards. The processor can be any stable working. Recommended memory - 4 GB.
- The operating system is the most commonly used Microsoft Windows 10 Pro 64-bit. There is also a OS designed specifically for the production of certain currencies. For example, ethOS for Ethereum.
- Internet with a good ping.
2. We determine the cryptocurrency
The choice depends on the available graphics. The most popular among miners cryptocurrency - Ethereum, Zcash, Monero. Bitcoin Litecoin and using the graphics card is not already extracted: for this purpose there are specialized devices, such as ASIC (Application-specific Integrated Circuit).
Examples of cards used for mining:
- Nvidia GeForce GTX 1050 Ti / 1050, and 1060, 1070, 1080 Ti / 1080;
- AMD Radeon RX 470/480 and 570/580.
Here You can see the main characteristics of cards, their hashing rate (an important indicator for mining) and how quickly they pay for themselves.
The average cost of a set of for mining with five or six video cards (including their sharp rise in price due to increased demand) today is about 200 thousand rubles. To this sum must be added the cost of electricity (it will be consumed continuously), including air-conditioning facilities, as well as online.
3. Choose pool (server) for mining
There is quite a lot of pools. The main characteristics affecting the choice: ping, power, protection, ease-miner software settings, the presence server Russia, the possibility of monitoring the size of the pool of the commission (usually 1%) and the Commission to transfer to your kriptomonet purse.
Recommended forums miners pools: dwarfpool.com, www2.coinmine.pl, nanopool.org, 2miners.com.
4. Choosing a stock exchange or purse, where it will accumulate extracted cryptocurrency
Here is one tip: only use proven services, which you need to explore the reviews.
What is cloud Mining
This investment in the purchase or rental of equipment required for the production cryptocurrency. Physically, it will not be at your home. Configuration, connection and maintenance assumes a specially crafted service.
Revenue from the cloud of mining proportional acquired or rent equipment.
Pros:
- Home to establish not one but several farms are likely to fail, as the equipment for mining is strongly heated. Remotely You can use any number of farms. Or do very little investment (minimum contracts for certain services cost a little more than a dollar).
- This method is recommended for those who are not technically savvy: it will be difficult to assemble and set up the equipment on their own. Or those who do not want to spend time on it and be attached to the house or the room where the farm is located.
- Higher as compared with a home device power.
- Possibility Mein bitcoins and to extract several cryptocurrency.
Minuses:
- The risk of running into a scam.
- The Commission, which is taken from the awards for production (in her usual laid all the costs, including possible equipment failure, etc.).
- The risk of hacker attacks on the server, resulting in can be left with nothing.
- A strong resemblance to a pyramid scheme. By the logic of services with their capacity to produce more profitable cryptocurrency themselves rather than give it to the side, even with the commission. In support of this assertion, saying the referral program to attract new customers many of the cloud services of mining promise a reward.
Is it worth it to engage in mining
Drinking cryptocurrency yet ambiguous, although their liquidity (ease of handling in the "real" money - rubles, dollars and so on) is very high.
The other day the head of VTB Andrey Kostin said that Bitcoin - a "speculative currency". Although representatives of the Central Bank have voiced a desire to create a national cryptocurrency.
Find out how much will be paid back the cost of building its own farm, it is very difficult.
It depends on the course cryptocurrency, the growing complexity of their production, the number of miners, which are constantly changing.
In general, the calculations made to date indicate that the equipment worth about a thousand dollars can pay for itself in six months or a year. If you invest in the establishment of farms 3 000-5 000 dollars, the profit may be 50 or more dollars a day. But these data can drastically change (especially considering the number of scams growth).
To calculate the profitability of mining, you can use online calculator.
Some experts believe that mining can be seen as an opportunity to obtain a little extra income, but not as a way to quickly and correctly enrichment. Think of it as a collection of gold dust and gold nuggets are not.
Thus, the risk or not, everyone decides for himself.