You will learn (1) how bitcoin mining works, (2) how to start mining bitcoins, (3) what the best bitcoin mining software is, (4) what the best bitcoin mining hardware is, (5) where to find the best bitcoin mining pools and (6) how to optimize your bitcoin earnings.
Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot.
How Bitcoin Mining Works
Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.
The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.
Step 1 - Get The Best Bitcoin Mining Hardware
Purchasing Bitcoins - Although it's not yet easy to buy bitcoins, it's getting simpler every day.
How To Start Bitcoin Mining
To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to 100x the capability of older systems have come to dominate the Bitcoin mining industry.
Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. Several companies such as Avalon offer excellent systems built specifically for bitcoin mining.
Bitcoin Mining Hardware Comparison
Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:
Manufacturer
|
AntMiner S5
Spondoolies
Tech SP20 Jackson
BPMC Red Fury USB
Advertised Capacity
| 1,155 Gh/s | 1,500 GH/s | 2.5 GH/s |
Power Efficiency
| 0.51 W/Gh | 0.80 W/Gh | 1.00 W/Gh |
Weight
| 6 pounds | 20 pounds | 1.6 ounces |
Getting Started Guide
| Yes | Yes | Yes |
Price
| $474.97 | $499.97 | $33.87 |
Appx. BTC Earned Per Month
| 0.35787681 | 0.46477508 | 0.00077463 |
No comments:
Post a Comment