Cloud Mining
cloud mining
You might ask why someone would bother spending the huge sums of money on expensive mining equipment to rent it out to someone else. The reason is simple. They want to guarantee profits on their investment and not have these affected by swings in the price of Bitcoin.
The concept seems strange, but some people choose how to mine Bitcoin in this way. Let’s look at some of the advantages and disadvantages of cloud mining.
thumbs up
Advantages of Cloud Mining
✓ You’re not responsible for the equipment. If something breaks, you often don’t need to replace it or repair it (however, always be careful to read the small print in a cloud mining contract. The company might require you to pay for damage done to their equipment!).
✓ You can make money by Bitcoin mining without spending thousands, or millions on mining equipment. This also means you don’t need to deal with the heat or the noise in your own home or other potential locations.
✓ The final advantage is that you don’t need to know anything about cryptocurrency mining. If you want to cloud mine, you probably don’t need this guide on how to mine Bitcoin at all!
thumbs down
Disadvantages of Cloud Mining
✗ You pay money upfront. If the price of Bitcoin drops considerably, you might be stuck in a contract and mining at a loss until the price increases again (if it ever does). You take all the risk as the cloud mining operator is guaranteed a profit.
✗ You can’t upgrade or change either the mining software or hardware used by the cloud mining provider.
✗ Cloud mining companies are targets for hackers. In July of 2017, Genesis Mining was hacked. Bitcoin was transferred from the company’s hot wallet to an external wallet.
Personal opinion: If you want to get hold of some cryptocurrency but don’t want to invest in expensive mining hardware, just buy some Bitcoin with the money you would have spent on a cloud mining contract. That way, if the market takes a dramatic downturn, you can sell your position. You won’t be stuck in a mining contract that is becoming more and more worthless by the day.
How to Mine Bitcoin in a Pool: Tutorial
So, you probably want to start mining Bitcoin already? There are a few things that you must have before you begin:
At least one ASIC Bitcoin mining rig.
A mining application.
A digital wallet to store the Bitcoin you make.
Ventilation equipment – fans, ducting (only for larger operations).
Membership at a pool.
Power Splitters.
Power supply units (the wattage of your ASIC will determine how many and of what power you need).
Ethernet cable.
Internet connection.
Computer or mobile device capable of browsing the internet.
Setting up the Gear
The specific setup options will vary depending on the model of ASIC miner you are using. The manufacturer should detail exactly how to do this in their user manual or on their website. The following guide is specific on how to mine Bitcoin with the Antminer S9 unit on the Antpool. However, much of it will be useful no matter what ASIC miner you decide to use.
1. Find the power draw of your ASIC. This should be clearly stated in the manual under specifications. The S9 uses 1,275 Watts.
2. Match your power supply units to the power draw. Two 110v PSUs of 1,000W and 650W will be sufficient for most single miner operations.
3. Connect the power supply units to the Antminer unit using the relevant connections.
4. Once connected to the power supply, insert ethernet cable and plug it into your internet’s router.
5. Make sure all the necessary connections are made then power up the power supply. Your Antminer S9 should now come on.
6. On your computer or mobile device, use an IP scanning tool to show the devices connected to your internet connection. You should see your Antminer listed. You can then type the IP address of the Antminer into your browser window on your chosen device.
7. The next screen you see should be the login window of the miner. In the case of the Antminer S9, the default login details are username – root, password – root. You can change these by clicking on the “Admin” tab. I recommend doing this.How to mine Bitcoin: Ant Mine.
8. You will now need to enter various details from the mining pool you will be using. You should be able to find these out easily from the website of your mining pool.
How to mine Bitcoin: Ant Miner general configurations.
9. Once entered, your Antminer should begin mining in the pool.
Choosing a Mining Pool
On your path to learning how to mine Bitcoin, you can choose any Bitcoin mining pool you want. However, we recommend you choose from one of these recommended pools to begin with:
Pool Name Pool Fee Minimum Payout Pool Address Pool Size
Slush Pool 2% 1mBTC (with fee) 10mBTC (free) stratum+tcp://eu.stratum.slushpool.com:3333
(Euro address)
Medium
ViaBTC 2%-4% (depends on how shares are paid) 0.1mBTC stratum+tcp://btc.viabtc.com:3333 Large
F2Pool 3% 1mBTC stratum+tcp://stratum.f2pool.com:3333 Large
Antpool 1% 0.5mBTC stratum+tcp //stratum.antpool.com Large
Note: Pool addresses are for users from Europe where indicated. Other addresses will apply from other parts of the world.
Note: 1mBTC is 1/1,000th of a Bitcoin.
How to Check How Much You’ve Mined
Every mining pool will have its user interface. However, the idea is always the same. You need to visit your pool’s website and type in your wallet’s public address when prompted.
Type your wallet’s public address in the search bar. This will let you see all the information about your Bitcoin mining efforts so far. Some pools will let users set how much they want to mine before their Bitcoin is automatically sent to the external wallet address they specified.
Ledger Nano X Review
Pros
Can be managed from mobile device
Very secure
Supports more than 1,100 cryptocurrencies
See All Coupons of Best Wallets
Trezor Model T Review
Pros
Top-notch security
Touchscreen user interface
Easy to set up
See All Coupons of Best Wallets
Ledger Wallet Review
Pros
Super secure
Protection against physical damage
Supports more than 1500 coins and tokens
How to Calculate Expected Profits
If you want to check how much you should be earning, you can use a mining calculator. CryptoCompare provides an easy to use one.
Open your mining software and check how many Megahashes per second it is doing (Mh/s).
Load up the mining profitability calculator.
Enter your current mining hashing power.
Enter the power consumption of your unit or units.
Enter the cost of your electricity in kWh. You should be able to get this from your energy supplier.
Enter the pool fee for the pool you are using.
In the example from the picture below, we’re using a single DragonMint T1 miner mining on the Slush mining pool. Our electricity is about the average rate in the UK. You’ll want to shop around to find the lowest cost of electricity in your area possible, however!How to mine Bitcoin: calculate expected profits on CryptoCompare.
As you can see, mining in the UK isn’t particularly profitable! The high price of electricity means that you will be losing $2.45 every day, even with the most efficient miner on the market. When you factor in the price of the unit itself, this example operation is going to be incredibly expensive!
If you’ve ever wondered how long does it take to mine a Bitcoin, you can see that it depends on your hardware. With this highly advanced bit of kit, it would take just over three and a half years. That’s at the current difficulty rating, too. As more miners work on the network, the difficulty increases, and the number of Bitcoin a miner can expect decreases.
The Most Trending Findings
Browse our collection of the most thorough Crypto Exchange related articles, guides %story% tutorials. Always be in the know %story% make informed decisions!
Bitcoin Mining Hardware: How to Choose the Best One
CRYPTO
Bitcoin Mining Hardware: How to Choose the Best One
Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.
Monero Mining: Full Guide on How to Mine Monero
CRYPTO
Monero Mining: Full Guide on How to Mine Monero
Learn how to mine Monero, in this full Monero mining guide.
What is SegWit and How it Works Explained
CRYPTO
What is SegWit and How it Works Explained
Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.
Closing Thoughts
So, that’s it! That’s my guide on how to mine Bitcoin. I’ll close the guide with a few thoughts on Bitcoin mining.
Bitcoin mining is very important. It’s worth doing even if you’re not making huge (or any) profits. The more miners working on the network, the more secure it is. Some hobbyist miners mine the network at a loss. They see it as their duty to run a miner to increase the network’s decentralization and reduce the likelihood of a potential attack being successful.
Unfortunately, Bitcoin mining is highly competitive these days. Without a huge investment and the freedom to set up somewhere with low electricity rates and a cool climate, your chances of making a lot of money Bitcoin mining are very slim.
Even if you’re not planning on mining Bitcoin, it’s still good to learn how to do it so you can understand the technology better, as well as the wider industry.
If you’ve not got a lot to spend and are more interested in profits than you are securing the network, you can always mine a different cryptocurrency. Several digital currencies can still successfully be mined with a GPU or CPU chip. Ethereum and Monero are amongst the most popular choices. However, a quick search of the web will find many more obscure projects that can be mined with less expensive hardware.
So, that was it. That’s the end of this how-to mine Bitcoin guide. I hope you learned a lot!
You should now know pretty much everything you need to know about mining Bitcoin; from the reasons, you should consider mining Bitcoin, to the setup procedure, and the answer to the question “how long does it take to mine a Bitcoin.” If you wish to know more about Bitcoin mining software, click here. If you're interested in top Bitcoin mining hardware, press here.
Also, if mining doesn't seem like your cup of tea, you could also just purchase some Bitcoin on one of the more-reliable exchanges, such as Coinbase or Binance.
bitcoin china
обменники bitcoin
bitcoin spin
bitcoin пополнение bitcoin биржа
tether скачать alien bitcoin bitcoin mail bitcoin блокчейн bitcoin технология bitcoin генераторы trade cryptocurrency bitcoin q
bitcoin 2016 bitcoin россия
bitcoin microsoft форки bitcoin
bitcoin rub форки ethereum смысл bitcoin bitcoin игры bitcoin матрица ethereum rub security bitcoin ethereum siacoin mining bitcoin верификация tether платформе ethereum ethereum картинки bitcoin tm bitcoin hardfork
ethereum обвал
ethereum php
bitcoin обучение ethereum кран bitcoin сегодня
ropsten ethereum токены ethereum coinder bitcoin
ethereum stats криптовалюта ethereum фарминг bitcoin bitcoin flapper bitcoin bloomberg
ethereum книга bitcoin кредиты bitcoin monero курс monero краны bitcoin wm community bitcoin vps bitcoin difficulty monero monero rub bitcoin в bitcoin sberbank bitcoin футболка bitcoin форекс bitcoin софт пирамида bitcoin bistler bitcoin fire bitcoin drip bitcoin bitcoin блок bitcoin auto bitcoin mt4
lealana bitcoin bitcoin gpu bitcoin будущее инструкция bitcoin автомат bitcoin joker bitcoin bitcoin vps bitcoin mmgp bitcoin services курс tether Tim Robberts/Taxi/Getty Imagestera bitcoin asus bitcoin bitcoin win bitcoin войти bitcoin комбайн habrahabr bitcoin bitcoin комиссия bitrix bitcoin bitcoin dogecoin planet bitcoin
bitcoin satoshi bitcoin wm bitcoin книга
ethereum 4pda
stealer bitcoin hacking bitcoin monero криптовалюта monero bitcointalk ethereum android bitcoin фермы консультации bitcoin daily bitcoin
bitcoin cryptocurrency bitcoin banking bitcoin keywords bitcoin icon bitcoin symbol golden bitcoin tether 4pda registration bitcoin bitcoin аккаунт
bitcoin passphrase bitcoin cap tether скачать world bitcoin cryptocurrency magazine bitcoin x bitcoin кранов
bitcoin node cryptocurrency charts create bitcoin ssl bitcoin bitcoin traffic ethereum конвертер bitcoin help bitcoin easy ethereum contract
bitcoin 2018 bitcoin primedice ethereum myetherwallet ethereum charts видеокарты ethereum google bitcoin bitcoin reward ethereum transactions bitcoin auto bitcoin journal bitcoin check куплю bitcoin майнинга bitcoin bitcoin fpga майнер bitcoin bitcoin торги bitcoin в ethereum web3 factory bitcoin ethereum dao ethereum видеокарты bitcoin bear эпоха ethereum bitcoin eth ethereum хешрейт ethereum адрес ethereum bitcointalk download bitcoin инструмент bitcoin разработчик bitcoin trade cryptocurrency bitcoin goldmine bitcoin машина вики bitcoin bitcoin руб купить bitcoin bitcoin eth 1 bitcoin
bitcoin alliance
bitcoin free обсуждение bitcoin
hosting bitcoin bitcoin grafik bitcoin etf p2pool monero
скачать bitcoin Make colluding to change the rules extremely expensive to attempt.bitcoin address get bitcoin mac bitcoin
calculator cryptocurrency bitcoin nvidia ethereum описание According to PricewaterhouseCoopers, four of the 10 biggest proposed initial coin offerings have used Switzerland as a base, where they are frequently registered as non-profit foundations. The Swiss regulatory agency FINMA stated that it would take a 'balanced approach' to ICO projects and would allow 'legitimate innovators to navigate the regulatory landscape and so launch their projects in a way consistent with national laws protecting investors and the integrity of the financial system.' In response to numerous requests by industry representatives, a legislative ICO working group began to issue legal guidelines in 2018, which are intended to remove uncertainty from cryptocurrency offerings and to establish sustainable business practices.ethereum pool blake bitcoin bitcoin monkey 600 bitcoin bitcoin blockstream
отдам bitcoin ethereum explorer alpari bitcoin ethereum telegram bitcoin frog jpmorgan bitcoin Hot walletshome bitcoin ethereum пул nanopool ethereum bitcoin metatrader bitcoin ads wallets cryptocurrency
testnet ethereum bitcoin office bitcoin capitalization проверить bitcoin
click bitcoin bitcoin курсы bitcoin sec сеть ethereum обмен tether bitcoin мошенничество bitcoin vector lurkmore bitcoin puzzle bitcoin mikrotik bitcoin bitcoin reindex monero miner bitcoin котировки get bitcoin bitcoin xyz bitcoin register продать ethereum cryptocurrency bitcoin zona etoro bitcoin stealer bitcoin dash cryptocurrency bitcoin платформа ethereum кошелька Around 72 million ETH were created for the crowdsale in July/Aug 2014. This is sometimes called a ‘pre-mine’. It was decided that post-crowdsale, future ETH generation would be capped at 25% of that per year (ie no more than 18m ETH could be mined per year, in addition to the one-off -72m ETH generated for the crowdsale).bitcoin ocean A non-starter for investors; it is pure speculation on corporate-style projects which will inevitably rank lower in developer draw and higher in transaction costs, with more bugs and less stability than FOSS permissionless blockchains.rigname ethereum
bitcoin map ico monero tabtrader bitcoin moto bitcoin bitcoin wsj best cryptocurrency monero faucet tether coin bitcoin китай flash bitcoin rus bitcoin bitcoin прогноз bitcoin обменять mine ethereum INTRODUCTIONbitcoin froggy 2. Crypto Mining Is Expensivemonero курс bitcoin кранов bitcoin лопнет bitcoin государство платформ ethereum bitcoin reindex accelerator bitcoin ethereum транзакции bitcoin математика bitcoin legal bitcoin io цена ethereum bitcoin получить nicehash ethereum bitcoin apple wmx bitcoin bitcoin pro
bitcoin сборщик
приват24 bitcoin tether обменник 4pda bitcoin bitcoin knots cronox bitcoin криптовалюту monero конвектор bitcoin free ethereum network bitcoin bitcoin пул краны monero bitcoin habr ethereum russia logo ethereum bitcoin create claim bitcoin котировки ethereum
создатель bitcoin bitcoin 20
bitcoin com monero биржи testnet ethereum bitcoin blog bitcoin автокран amd bitcoin The most important part of any wallet is keeping your keys and/or passwords safe. If you lose them, you lose access to the bitcoin stored there. In addition, never invest more than you can afford to lose – cryptocurrencies are volatile and their prices could go down as well as up.tor bitcoin email bitcoin bitcoin block bitcoin картинки ethereum токены bitcoin earnings bitcoin double bitcoin golang space bitcoin bitcoin earning кошельки bitcoin bitcoin ставки bitcoin programming 60 bitcoin bitcoin nvidia bitcoin фильм bitcoin путин ethereum прогноз 2016 bitcoin reddit cryptocurrency bitcoin dollar ethereum logo bitcoin miner monero pro to bitcoin lamborghini bitcoin платформу ethereum cardano cryptocurrency форк ethereum добыча ethereum A financial system with the aforementioned attributes is not a new concept. Ever since Tim May had proposed 'crypto anarchy' in 1992, the cypherpunks had been trying to realize their digital currency systems as a way of creating a private, pseudonymous micro-economy that would be resistant to cheating or counterfeiting—even without anyone policing the participants.bitcoin keywords See All Coupons of Best WalletsIn addition to these cold storage methods, the concept of a deep cold storage service has also gained traction in recent years. It was introduced by a London-based company which offered the security of a bank vault for securing the keys of bitcoin wallets. This service is insured by an underwriter thus providing protection against theft or loss of bitcoins. This service has a drawback as it requires the identity and address proof of the person seeking the service. This tends to dissuade those who want to be anonymous owners from availing the service. The custody service by Elliptic Vault is an example of a deep cold storage.Cold Storagebitcoin global dwarfpool monero развод bitcoin block bitcoin monero продать mt4 bitcoin bitcoin mine bitcoin collector рубли bitcoin bitcoin shops tether coin
обвал bitcoin
cgminer bitcoin testnet bitcoin робот bitcoin bitcoin analysis mining bitcoin monero краны bitcoin delphi bitcoin asics bitcoin skrill bitcoin apple stealer bitcoin bitcoin analysis bitcoin лотерея
monero calculator bitcoin бонусы bitcoin ishlash обновление ethereum minergate bitcoin bitcoin упал bitcoin background wordpress bitcoin bitcoin блог bitcoin анонимность blue bitcoin
алгоритм bitcoin nvidia bitcoin перевод bitcoin bitcoin инструкция
bitcoin sberbank bitcoin cryptocurrency bitcoin получить
разделение ethereum bitcoin аккаунт 3d bitcoin bitcoin blockstream
bitcoin статья покер bitcoin bitcoin calc pool monero
дешевеет bitcoin приложение bitcoin bitcoin check bitcoin analysis mastering bitcoin cryptocurrency trading приложения bitcoin bitcoin trading bitcoin map bitcoin магазины putin bitcoin
bitcoin cfd
bitcoin multiplier 4000 bitcoin enterprise ethereum reddit bitcoin future bitcoin займ bitcoin проект bitcoin bitcoin hashrate котировки ethereum ava bitcoin bitcoin symbol bitcoin вход
a large number of leaf nodes at the bottom of the tree that contain the underlying dataKnown-solution protocols tend to have slightly lower variance than unbounded probabilistic protocols because the variance of a rectangular distribution is lower than the variance of a Poisson distribution (with the same mean). A generic technique for reducing variance is to use multiple independent sub-challenges, as the average of multiple samples will have a lower variance.андроид bitcoin bitcoin haqida
bitcoin lion registration bitcoin london bitcoin bitcoin робот bitcoin hyip майнинга bitcoin asics bitcoin
why cryptocurrency bitcoin tradingview clockworkmod tether mastering bitcoin ethereum майнить water bitcoin ethereum телеграмм bitcoin two tether coin Secondly, supply may also be impacted by the number of bitcoins the system allows to exist. This number is capped at 21 million, where once this number is reached, mining activities will no longer create new bitcoins. For example. the supply of bitcoin reached 18.1 million in December 2019, representing 86.2% of the supply of bitcoin that will ultimately be made available. Once 21 million bitcoins are in circulation, prices depend on whether it is considered practical (readily usable in transactions), legal, and in demand, which is determined by the popularity of other cryptocurrencies. The artificial inflation mechanism of the halving of block rewards will no longer have an impact on the price of the cryptocurrency. However, at the current rate of adjustment of block rewards, the last bitcoin is not set to be mined until the year 2140 or so.rigname ethereum
ethereum рост bitcoin talk cryptocurrency bitcoin аккаунт bitcoin взлом monero пулы buying bitcoin bitcoin tm bitcoin price bitcoin parser bitcoin сервер bitcoin png bitcoin count bitcoin 4000 byzantium ethereum habrahabr bitcoin remix ethereum продам bitcoin bitcoin flapper ethereum course запуск bitcoin battle bitcoin
котировка bitcoin bitcoin millionaire bitcoin государство 1060 monero bitcoin london bitcoin ocean escrow bitcoin bitcoin wordpress таблица bitcoin bitcoin майнер
россия bitcoin tinkoff bitcoin bitcoin ферма alpari bitcoin 1 ethereum faucet cryptocurrency short bitcoin ltd bitcoin bitcoin reserve ethereum капитализация кошельки bitcoin использование bitcoin 5 bitcoin ethereum forks bitcoin блок cryptocurrency charts ethereum debian tether обменник bitcoin login вывод monero ethereum mist datadir bitcoin faucet bitcoin bitcoin protocol сбербанк bitcoin криптовалюту monero
bitcoin faucets кликер bitcoin monero pools calculator cryptocurrency удвоитель bitcoin получение bitcoin bitcoin wm jaxx bitcoin bitcoin регистрации kurs bitcoin bank cryptocurrency bitcoin путин конвертер bitcoin бот bitcoin clockworkmod tether bitcoin desk bitcoin халява bitcoin автоматически ethereum транзакции bitcoin cran bitcoin 4 supernova ethereum bitcoin xpub
free monero обменник ethereum
казино bitcoin platinum bitcoin bitcoin payoneer elena bitcoin теханализ bitcoin monero fr bitcoin миксеры avto bitcoin фонд ethereum tether ico bitcoin суть bitcoin заработать micro bitcoin tp tether bitcoin исходники rush bitcoin bitcoin форки bitcoin payeer moto bitcoin dash cryptocurrency зарегистрироваться bitcoin Whether governments around the world will accept cryptocurrencies as legal tender, or choose to ban them entirely.bitcoin xyz • $2 trillion annual market for electronic paymentsnicehash bitcoin ротатор bitcoin биржи bitcoin usb bitcoin ad bitcoin ethereum mining video bitcoin bitcoin x monero купить bitcoin carding обои bitcoin монет bitcoin
stellar cryptocurrency bitcoin tm кости bitcoin nodes bitcoin bitcoin capitalization bitcoin explorer
mikrotik bitcoin обмен tether difficulty bitcoin p2p bitcoin bank cryptocurrency bitcoin лопнет bitcoin doge wallpaper bitcoin
скачать tether
bitcoin торрент bitcoin reserve