5 Best Bitcoin Mining Hardware ASIC Machines (2020 Rigs)
7 Best ASIC Miners 2020: Tried and Tested With Reviews
Realtime mining hardware profitability ASIC Miner Value
DyslexicZombei's Miners Cooperative
We are an at cost democratic ASIC Miners Cooperative based on the Bitcoin Talk Group Buys Forum. We vote on all major decisions on important matters and have members on 4 continents and 2 island chains. We're a true representative democracy with weighted voting based on the number of shares owned in a particular Round with everyone's voices being respected.
Imagine if all the money miners spend on buying new ASIC rigs would go directly into the purchase of bitcoins. Imagine also if all the cost associated with operating mining farms would be virtually eliminated and therefore greatly reducing amount of bitcoins miners have sell to keep operating.
That is effectively one of the things ETH 2.0 is bringing to the table. It will also result in lower issuance, a rapid increase in network scaling. This is a very exciting development for cryptocurrencies as a whole, and if the implementation is successful there are a lot of reasons to believe it will catapult Ether's price. If you are a maximalist (on either side of the fence), please consider hedging your investment. It is a responsible approach specially when dealing with a highly speculative and volatile asset class. Cheers!
If a country perceived bitcoin as a big enough threat, how much would it cost them in USD (for hardware and energy) to build their own custom ASICs and exceed the network's current hashpower? How quickly could they realistically do this, and could anything be done to stop this scale of attack?
Isn't there a disturbingly high chance that the ASIC disruption will threaten the entire bitcoin currency? As difficulty rises and all but the largest miners with the lowest costs drop out, isn't there a strong possibility of one organization reaching 51 percent and ending bitcoin as we know it?
correlation between ASICs, bitcoin price and mining electricity costs?
Lately I've been quite interested in the idea of investing in cryptocurrencies, and the issue of energy expenditure came up. While it is true that nobody really knows how much a bitcoin will be valued in the far future, I have been hearing people speak of when it's more profitable to buy coins than mine, and vice versa. I am quite aware that there's a ton of speculation surrounding the price which will never go away... however, I do wonder: does anyone feel that there's any possible relationship between the amount of energy used to maintain the network/generate BTC and the exchange value of an individual coin? Or perhaps you feel that the amount of energy expended has no bearing on its' exchange value? Whatever you feel, please explain why. Perhaps this has been discussed before...? I do also wonder if the same ideas apply to alternative cryptocurrencies as well... so if you have any insight on that, please share. I apologize if the question itself is vague, but the idea of investing in currencies itself is relatively new to me. Please let me know if I need to rephrase the question, if so. Thank you very much!
A week or so ago i finally bought into bitcoin trough an exchange. But id be interested in learning more and see what options there are for mining using my own pc (i have cheap electric) any place or videos that would teach me more of the in depth info about bitcoin?
Do people profit by mining anymore? If not why do people mine if it is no profit? If mining is profitable then how? I am looking at cost of different asic hardware. Even at bulk prices and with free electricity the online mining reward calculators still show a loss by never recovering the price of hardware. Or in a good situation just a cut even. Is mining on bitcoin now only reserved to the few elitist who manufacture asic machines? The claims that it is profitable because bitcoin value go up is invalid. Because at that case better off to just buy bitcoin and hodl instead of buying asic with it. Or if bought the hardware using bitcoin may never recover costs. How is lack of asic resistance not an issue?
Ok, A little backround. I know hardware and networking. I can build just about any config of a computer. I understand overclocking and undervolting. I can invest around 2,700 for initial investment. So do I buy hardware to build a GPU miner with at least 6 cards or more? Probably RX580 as they are cheap and I have one in my rig. More on that later. Or do I a Asic miner like this I understand a GPU miner is multiple coins and not Bitcoin, and Asic is nothing but Bitcoin. I've done the math on the Asic miner and the ROI in about 3 months with a net gain of about ~10,000 USD a year @ .13 cents per Watt. I've had a hard time finding a solid or semi way of calculating the earnings for a GPU miner. Not only because it is many coins or dedicated to one coin, but there our other variables involved. However I have more control of the hardware if it fails. I dipped my toe into mining with my own rig that has a RX580 fatboy and a AMD Phenom ii x4 955 black edition. I overclocked the GPU and undervolted the CPU to reduce heat since it was hitting 62 cel. The GPU gets 12.5 sol/s and the CPU was getting ~322 h/s. All this added up to ~170 watts and a net of .00218322 BTC/Month. This was all done using Cudo as it was easy to find and setup just to test. This was just a test to see how it would work. I wouldn't use Cudo to full scale as it is a pool and the transfer to a Wallet is pretty steep in relationship to earns. I understand that in a pool you get your share based upon how much of the "work" you did to get find block. So do I build or buy? With that much computation power do I need to join a pool? What software is best for pool or alone? I am comfortable with CLI as long as it's well documented, but would like a remote GUI. Also what is the best wallet with the best fees for transactions. Currently using uphold since I use Brave. I think I covered as much as I could, if you have any questions let me know. Any advice would be great. If I should post this else where let me know please or I could just cross post it. TIA. Be safe, stay safe! Edit: Words and BTC earning was WAY off then I first typed this.
With all the latest news and going ons, I came to the conclusion that in the future there might be a backlash against power hungry coins like Bitcoin resulting in some national tax being levied on Bitcoin transactions (don’t worry too much about this , it’s just to explain where my mind was going). So I thought this might mean LiteCoin would be a good long term investment as I’ve heard it’s more energy efficient. I did some googling and found this well written article: https://www.ofnumbers.com/2018/08/26/how-much-electricity-is-consumed-by-bitcoin-bitcoin-cash-ethereum-litecoin-and-monero/ I was surprised to find LiteCoin , isn’t that much more energy efficient , due to the fact miners still end up using ASIC machines. The article finishes by addressing some of the common counter arguments such as traditional systems also consume a lot of energy, and use of green energy. I strongly recommend reading it if you want to comment about those. It does however focus on the energy cost after a coin or fiat has been created (I.e. cost of transactions and storage) and not the cost of producing the fiat. But cost of production is one one off cost anyway. And it does not mention gold (which I imagine has a high production cost but cheaper transaction+storage costs vs. BTC). Anyway thought I’d get the communities thought on all of this. I know a lot of us are emotionally attached to crypto and will rush to defend it but I im trying to anticipate if there might be a backlash in the future and if so which coins might be a good investment. I’m curious to see how the author would rate Nano, which is kind of the conclusion I’m reaching here (all the nano shillers I’ve been deriding will rejoice to hear this) Thoughts?
Doctor’s calculations are predominantly focused on Bitcoin Price to Mining Breakeven Cost Metric, or P/BE, which is described in the executive summary posted by Lee above, as having a ”proven and reliable long-term support level”.’ Part of Doctor’s analysis focuses on the increasing energy efficiency of the mining network, and an escalation of large-scale operations over individual s It has been estimated, in fact, that mining a bitcoin with such a device costs more than 7 thousand dollars in electricity, assuming a cost of 0.06 dollars per kWh. As reported by those who carried out this study, the estimate is based on the use of a single ASIC for the mining of a BTC , an operation that, depending on the model, could require up to two years. Bitcoin mining is effective only when there is a net benefit in regard to productivity and low cost of running. They are high on consuming electricity and there are users who often combine rigs and ASIC chips just to bring the costs even lower. The ASIC miners are designed to basically work and be co-joined with the mining rigs. The advantage of adding the ASIC chips to the mining rigs is that ... ASIC vs CPU mining . An ASIC Bitcoin miner is designed exclusively for the purpose of mining bitcoin. Though significantly more expensive to purchase, they are far more powerful (higher hash rate) and electricity-efficient than CPUs and GPUs (graphics cards) – used for mining in the early days of bitcoin – and even FPGAs (field programmable gate arrays), which were, in 2011, the most ... Live income estimation of all known ASIC miners, updated every minute. ASIC Miner Value ... Aladdin Miner 16Th/s Bitcoin. Jul 2018. 16 Th/s. 1400 W. 76 db. SHA-256-$2.60 /day. Bitmain Antminer S9 (13.5Th) Sep 2017. 13.5 Th/s. 1323 W. 85 db. SHA-256 -$2.61 /day. Dayun Zig Z1+ Oct 2018. 7.25 Gh/s. 1200 W. 70 db. Lyra2REv2-$2.61 /day. Holic H22. Dec 2018. 22 Th/s. 1700 W. 70 db. SHA-256-$2.64 ...
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