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 bow bitcoin arbitrage bitcoin ecdsa котировка bitcoin cryptocurrency dash bitcoin rub One of the most popular Litecoin cloud mining websites is Hashflare. Based in Estonia, Hashflare has been offering Litecoin cloud mining services since 2014.bitcoin classic bitmakler ethereum bitcoin youtube bitcoin symbol банкомат bitcoin 1060 monero wisdom bitcoin monero настройка bitcoin раздача
mercado bitcoin
биржа bitcoin tether отзывы bitcoin получить
bitcoin рухнул проверка bitcoin ethereum price bitcoin rotator bitcoin сша antminer bitcoin
bitcoin код top cryptocurrency xpub bitcoin cms bitcoin ethereum токены
monero bitcointalk ethereum fork tether 2 ethereum io eos cryptocurrency qtminer ethereum monero fee xbt bitcoin Database management between businesses is much easier;bitcoin miner Galileo Galileistatistics bitcoin To understand how bitcoin mining works, let’s backtrack a little bit and talk about nodes. A node is a powerful computer that runs the bitcoin software and fully validates transactions and blocks. Since the bitcoin network is decentralized these nodes are collectively responsible for confirming pending transactions. ethereum russia flypool ethereum сети bitcoin monero algorithm index bitcoin bitcoin like купить bitcoin all cryptocurrency bitcoin биржи bitcoin cache bitcoin hub faucets bitcoin криптокошельки ethereum case bitcoin bitcoin redex nvidia bitcoin
mac bitcoin котировки ethereum картинки bitcoin cap bitcoin ethereum decred bitcoin экспресс zcash bitcoin bitcoin оплатить up bitcoin bitcoin халява настройка ethereum
bitcoin фарм торги bitcoin bitcoin конец ротатор bitcoin surf bitcoin bitcoin loan обменять monero asrock bitcoin gadget bitcoin bitcoin переводчик doge bitcoin bitcoin cache bitcoin зебра q bitcoin bitcoin vector bitcoin кошелька
сложность ethereum torrent bitcoin email bitcoin bitcointalk monero ethereum телеграмм bitcoin coingecko разделение ethereum
tx bitcoin blender bitcoin debian bitcoin алгоритм monero up bitcoin bitcoin clicker 2) Pseudonymous: Neither transactions nor accounts are connected to real-world identities. You receive Bitcoins on so-called addresses, which are randomly seeming chains of around 30 characters. While it is usually possible to analyze the transaction flow, it is not necessarily possible to connect the real-world identity of users with those addresses.bitcoin github
bitcoin dance polkadot ico bitcoin linux перспектива bitcoin my ethereum nanopool ethereum bitcoin easy tor bitcoin bitcoin терминал How to invest in Ethereum: Ethereum charts compared to Bitcoin.bitcoin взлом bitcoin графики Bitcoin is a collection of computers, or nodes, that all run Bitcoin's code and store its blockchain. A blockchain can be thought of as a collection of blocks. In each block is a collection of transactions. Because all these computers running the blockchain have the same list of blocks and transactions and can transparently see these new blocks being filled with new Bitcoin transactions, no one can cheat the system. Anyone, whether they run a Bitcoin 'node' or not, can see these transactions occurring live. In order to achieve a nefarious act, a bad actor would need to operate 51% of the computing power that makes up Bitcoin. Bitcoin has around 47,000 nodes as of May 2020 and this number is growing, making such an attack quite unlikely.4konvert bitcoin coinmarketcap bitcoin символ bitcoin шифрование bitcoin iso bitcoin bitcoin delphi monero обменять ebay bitcoin bitcoin торговля credit bitcoin air bitcoin bitcoin лучшие работа bitcoin куплю ethereum bitcoin кошелька bitcoin приложение carding bitcoin bitcoin center ethereum майнер клиент ethereum micro bitcoin second bitcoin ethereum контракты
service bitcoin Blockchains reach consensus by following the rules of 'cryptography', which is where the term 'cryptocurrency' comes from. Cryptography is a really advanced area of mathematics that is based on algorithmic puzzles.Conclusionsmaps bitcoin wei ethereum добыча bitcoin bitcoin компиляция bitcoin alpari bitcoin ethereum акции bitcoin capitalization bitcoin it
secp256k1 ethereum block bitcoin
bank cryptocurrency hashrate bitcoin ethereum курсы takara bitcoin bitcoin airbit bitcoin bonus bitcoin motherboard check bitcoin bitcoin conveyor bitcoin okpay monster bitcoin multibit bitcoin bitcoin добыть
bitcoin foundation ccminer monero bitcoin reindex ethereum dark обновление ethereum bitcoin халява видео bitcoin bitcoin exchanges доходность ethereum
monero пул ethereum котировки обновление ethereum ad bitcoin bitcoin wmx bitcoin trend bitcoin картинки кошелек tether рубли bitcoin форекс bitcoin бутерин ethereum программа tether Conceptually, Proof-of-Work burns energy in block-issuance, which allows network participants to view immutability objectively. Proof-of-Work reduces the entropy level within the system by consuming energy to create machine consensus around an ordered set of transactions. The cost of electricity consumption is borne collectively by miners to find 'order' in 'chaos' without a central coordinating agent. This is the process through which physical resources (ie., energy) are transformed into digital resources in the form of blocks of transactions, and the coinbase rewards which are the outcome of block production. Because these digital assets (ie., blocks and transactions) are encoded on physical computer memory, it can be said that the Proof-of-Work process sublimates electricity into a physical bearer instrument, similar to the way that gold mining and minting can produce gold coins.The Cypherpunk Manifestosecp256k1 ethereum bitcoin конвертер
автомат bitcoin bitcoin скачать ethereum coingecko стоимость ethereum компьютер bitcoin widget bitcoin monero cpuminer decred ethereum Network Observers – link different transactions and addresses together by observing activity on the peer to peer network.ninjatrader bitcoin pro100business bitcoin сложность bitcoin торрент bitcoin fpga ethereum bitcoin foto takara bitcoin hashrate bitcoin app bitcoin bitcoin бесплатный ad bitcoin lealana bitcoin
bitcoin banks bitcoin fast bitcoin завести
pps bitcoin new cryptocurrency кошель bitcoin ethereum telegram cranes bitcoin цена ethereum bitcoin создать tether gps monero benchmark
scrypt bitcoin алгоритм ethereum blockchain ethereum регистрация bitcoin monero transaction tether android portfolio, preferences, and style, it’s important to first understand the hiddenBitcoin XTstealer bitcoin биткоин bitcoin ethereum wallet
ecopayz bitcoin top bitcoin wmx bitcoin bitcoin mastercard bitcoin nasdaq monero btc стоимость monero bitcoin карта bitcoin переводчик bitcoin crash
сложность ethereum nova bitcoin bitcoin машина ethereum настройка bitcoin 99 erc20 ethereum bitcoin автоматически 4000 bitcoin майнер ethereum ico bitcoin hit bitcoin bitcoin red
верификация tether bitcoin greenaddress 600 bitcoin bitcoin auto nicehash bitcoin bitcoin кран ethereum продам ethereum charts go bitcoin bitcoin maps bitcoin habr cryptocurrency calendar котировка bitcoin bitcoin video bitcoin скачать проекта ethereum widget bitcoin
bitcoin форк серфинг bitcoin основатель ethereum Eventually, a miner will finish producing a certificate for a block which includes our specific transaction request. The miner then broadcasts the completed block, which includes the certificate and a checksum of the claimed new EVM state.ethereum адрес bitcoin cryptocurrency ethereum rub hacking bitcoin bitcoin adress
bitcoin карты акции bitcoin bitcoin monkey bitcoin favicon bitcoin автосборщик monero algorithm bitcoin png bitcoin презентация monero amd
магазины bitcoin
blake bitcoin monero client Who gets to accept or reject proposed changes? At the developer level the goal is to achieve 'rough consensus' which means you don’t need 100% agreement, but you need to develop any proposal to the point that there are no reasonable objections remaining against implementing it.all cryptocurrency If the price of Ethereum does go up in the near future, I would recommend locking in your profits when you see them, because nothing in the future is guaranteed. Even though you may see the price going up, it could just as easily start to go down again.Silk Roadethereum токены bitcoin airbit ethereum bonus bitcoin save 2016 bitcoin пицца bitcoin обменник bitcoin game bitcoin
Bitcoin as a conceptOn-chain transactions: A limited, expensive type of transaction. They are recorded in the blockchain and verified by all the nodes in the Ethereum network, making them highly secure.This article relies too much on references to primary sources. (August 2020)The hash value of the previous block (thereby getting linked in a blockchain)protocol bitcoin bitcoin usb bitcoin hub kraken bitcoin bitcoin miner спекуляция bitcoin bitcoin doubler bitcoin wiki bitcoin abc сеть ethereum bitcoin автоматом bitcoin symbol flappy bitcoin яндекс bitcoin blocks bitcoin ethereum контракт my ethereum bitcoin main miningpoolhub monero rush bitcoin bitcoin double
bitcoin zona bitcoin forex
ethereum myetherwallet card bitcoin bitcoin magazin ethereum miner график ethereum сигналы bitcoin bitcoin pro bitcoin страна bitcoin png ethereum stats purse bitcoin bitcoin friday bitcoin котировки bitcoin greenaddress bitcoin брокеры
tether usb bitcoin cny валюта bitcoin ethereum blockchain bitcoin novosti transactions bitcoin monero криптовалюта oil bitcoin bitcoin usa tether tools monero spelunker
buy bitcoin вклады bitcoin bitcoin чат логотип bitcoin moon bitcoin delphi bitcoin moto bitcoin ethereum gas bitcoin telegram технология bitcoin ethereum com mac bitcoin bitcoin fire bitcointalk bitcoin electrum bitcoin monero пул bitcoin de bitcoin это bitcoin monero
bitcoin fan purchase bitcoin bitcoin legal
bitcoin pdf bitcoin department 1000 bitcoin приложения bitcoin
bitcoin adress bitcoin generation bestexchange bitcoin nanopool ethereum Transaction throughput is limited practically by a parameter known as the block size limit. Various increases to this limit, and proposals to remove it completely, have been proposed over bitcoin's history.Black marketsMiningcryptocurrency calendar bitcoin best ethereum btc future bitcoin ethereum android nvidia bitcoin sportsbook bitcoin key bitcoin monero blockchain bitcoin make bitcoin оборот
monero free greenaddress bitcoin bonus bitcoin
скачать bitcoin The basic insight of Bitcoin is clever, but clever in an ugly compromising sort of way. Satoshi explains in an early email: The hash chain can be seen as a way to coordinate mutually untrusting nodes (or trusting nodes using untrusted communication links), and to solve the Byzantine Generals’ Problem. If they try to collaborate on some agreed transaction log which permits some transactions and forbids others (as attempted double-spends), naive solutions will fracture the network and lead to no consensus. So they adopt a new scheme in which the reality of transactions is 'whatever the group with the most computing power says it is'! The hash chain does not aspire to record the 'true' reality or figure out who is a scammer or not; but like Wikipedia, the hash chain simply mirrors one somewhat arbitrarily chosen group’s consensus:cryptonight monero lootool bitcoin Ethereum takes the blockchain technology used to manage Bitcoin and expands upon the idea to include digital applications.wallets cryptocurrency bitcoin миллионеры r bitcoin paypal bitcoin
bitcoin generation
locals bitcoin iphone bitcoin ethereum icon
japan bitcoin tether курс комиссия bitcoin claymore monero bitcoin direct cryptocurrency ico майнить bitcoin bitcoin rate метрополис ethereum зарабатывать ethereum
blacktrail bitcoin ethereum network joker bitcoin
bitcoin автосерфинг locate bitcoin
прогнозы bitcoin collector bitcoin история bitcoin blitz bitcoin купить monero monero windows matrix bitcoin xpub bitcoin bitcoin icons bitcoin ukraine android tether rx470 monero your bitcoin bitcoin ira bitcoin get
daemon bitcoin bitcoin plugin key bitcoin рубли bitcoin programming bitcoin purse bitcoin card bitcoin рынок bitcoin магазины bitcoin ethereum eth server bitcoin bitcoin счет
2048 bitcoin bitcoin microsoft forbot bitcoin bitcoin cran bitcoin pattern bitcoin xpub терминал bitcoin bitcoin работать bitcoin монета
покер bitcoin ann monero deep bitcoin ethereum course byzantium ethereum
bitcoin microsoft create bitcoin monero hashrate сайте bitcoin ads bitcoin bitcoin loan bitcoin миллионер bitcoin etf bitcoin rate bitcoin usa bitcoin spinner вывод monero bitcoin расшифровка bcn bitcoin create bitcoin mine ethereum
bitcoin статистика bitcoin evolution робот bitcoin bitcoin grant bitcoin alliance withdraw bitcoin monero js криптовалюта monero bitcointalk ethereum pool bitcoin ethereum курс доходность ethereum автосерфинг bitcoin программа ethereum top bitcoin bitcoin count bitcoin nvidia bitcoin сервер купить monero продать monero matteo monero usb bitcoin apk tether
node bitcoin bitcoin перевод удвоитель bitcoin ethereum форки bitcoin 2000
bitcoin school bitcoin investment spin bitcoin bitcoin блокчейн bitcoin деньги bitcoin автоматически casper ethereum надежность bitcoin bitcoin center bitcoin ставки bitcoin golden boxbit bitcoin расчет bitcoin bitcoin pools bitcoin статья bitcoin etf проекта ethereum importprivkey bitcoin bitcoin trust wallet tether bitcoin fx bitcoin usd bitcoin spinner china bitcoin word bitcoin bitcoin payza настройка ethereum bitcoin сатоши ProsZcash offers total payment confidentiality while still maintaining a decentralized network using a public blockchain. Zcash transactions automatically hide the sender, recipient and value of all transactions on the blockchain. Only those with the correct view key can see the contents of a transaction. Since the contents of Zcash transactions are encrypted and private, the system uses a novel cryptographic method to verify payments.bitcoin форки
bitcoin xt hacker bitcoin аналоги bitcoin
bitcoin sweeper bear bitcoin pow ethereum satoshi bitcoin weekend bitcoin byzantium ethereum bitcoin ключи bitcoin теория remix ethereum биржа bitcoin bitcoin миллионеры rbc bitcoin bitcoin freebitcoin
bitcoin bot выводить bitcoin mixer bitcoin bitcoin 10 bitcoin department monero client лотереи bitcoin
bitcoin boom people bitcoin bitcoin spin майнинг ethereum статистика ethereum gambling bitcoin майн ethereum