Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Jul 27, · r/EtherMining: Discussion of mining the cryptocurrency Ethereum. Ask questions or receive news about about mining, hardware, software . Bitcoin mining is an expensive way to earn free Bitcoins. Mining requires a powerful Bitcoin mining rig and a strong and reliable power supply. You have to invest .
Mining for bitcoin redditCan You Really Make Money Mining Bitcoin With Your Gaming PC?
You will make more money if you have a faster GPU, as it can do more work. However, if you have to pay more for electricity, that will cut into your profits. The PC used about 65 watts of power at idle, and could use around watts while mining. The returns from mining with a consumer graphics card are clearly decreasing.
If you want to mess with NiceHash yourself and see how your hardware performs, you can easily do so. Just head to NiceHash. After creating an account, download the NiceHash miner software and install it on your PC.
Fire it up, enter the email address associated with your NiceHash account, and then allow it to perform some benchmarks. Everything happens automatically while mining. Note that there are service and withdrawal fees for getting the Bitcoin out of the NiceHash miner into the NiceHash wallet or an external Bitcoin wallet. You will also incur additional transaction fees if you want to sell Bitcoin and convert it to USD to another currency.
And of course, all those fees will also cut into your profits. The Best Tech Newsletter Anywhere. Join , subscribers and get a daily digest of news, comics, trivia, reviews, and more. Windows Mac iPhone Android. Check it out below and see for yourself how you can profit from Bitcoin mining. But they consume so much power, about watts each.
It could have a total of watts of total power consumption. It also uses 6 razors to connect each video card to the PCI Express ports and invest on a new motherboard that can run all of those at the same time. It also got a mining rig case to hold everything. Check Price at Amazon. This miner does 14 Terra hashes a second and uses watts. The Bitcoin difficulty continues to rise, so in time you will get less and less of Bitcoin.
But the one thing that can balance the difficulty and how much Bitcoin you mined is — if the price of the Bitcoin continues to increase. A number said that Bitcoin is no longer profitable , but if you have the right gear, you will still find this profitable. In fact, a number still do this because they earn from it.
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Password recovery. Forgot your password? Get help. Is Bitcoin mining profitable? Should I do it too? Contents 1 Is Bitcoin mining profitable? Go to top. The card will pay for itself in less than 10 months. But take note the power consumption is out of the calculation.
However, according to Evangelho, this is profitable.