Cryptocurrency mining: is it possible to get coins without attachments?

leokarpovsky (39)in #mining • 6 years ago (edited)

What is cryptocurrency?

Only a complete ignoramus even a corner of the ear did not hear about cryptocurrency. The real crypto boom is going on in the network: users not only heard, but also “tried” all the power and strength of the cryptomonet. And even though this phenomenon is at the hearing, not everyone understands the very essence of cryptocurrency, and if we talk about the technical parameters of their existence, it doesn’t mean IT professionals and others who want to be familiar with the technology of the people.

Cryptocurrency - is the money of the Internet, in which it was invented, it functions in it and so far without much success trying to get out of it.

This innovation is a unique and revolutionary idea that is already changing the world, and in the future will alter financial relationships beyond recognition. A cryptocurrency has no physical analogs and is nothing more than a collection of codes encrypted with modern cryptographic principles. This system is extremely reliable, moderately anonymous, gives users the freedom from centralization and is a real means of payment and mutual settlements.

A crypt arises not by emission, but by extraction with computing power, which is called mining. This is the only money in the world that can be generated independently and which no one controls. At the same time, digital currencies have a value that is supported by trust, not gold or the volume of goods produced. And since the coins that you can mine yourself have a value, there is serious interest in their mining.

Mining cryptocurrency at home

Without much effort on your part, you can get a cryptocurrency right at your home, using a computer. The first Bitcoin cryptocurrency was exactly that - the enthusiastic users generated the first blocks on their PC without even knowing if they would be worth anything. Today, the price of the cue ball fluctuates around $ 4,200 for 1 BTC, and everyone who was involved in its early mining earned great money and even more - there are quite a few millionaires among them.

As a rule, the more kryptomonet mined, the more difficult it is to generate new ones and the less profitable it is to do it on a PC. So, for example, you can try to extract the same bitcoin on your computer, but not the fact that it will bring at least some profit even in a dozen or two years. But the losses - with ease: get ready for the transcendental bills for electricity and a burned-down processor.

Nevertheless, you can get coins at home. And the success of an enterprise directly depends on what exactly you are going to mine and on what. There is not much to earn on a bare PC, but if you add a good video card, and better a few, then mining will start generating revenue.

Bitcoin mining mining

The first of all existing cryptocurrencies turned out to be not only the most successful, but also the most expensive. Therefore, all miners-beginners will certainly want to extract only Bitcoin, but just with him everything is not so simple. The main cryptocurrency has been mined since 2009, and to this day, the complexity has increased so much that it is simply not advisable to use CPU to receive coins. The market is flooded with the most powerful asik miners, who work thousands of times more productive than a conventional processor and even a video card.

Therefore, to get at least some income, miners have no choice but to pool their capacities and fight industrialists for their share of cryptocurrency profit. But again, from a simple PC in this case there will be little confusion, but if you equip a home farm with video cards, then the profit will be more tangible.

Cryptocurrency Mining Farm

When the interest in mining began to increase, and its complexity increased, new players entered the arena - mining farms. These are not some kind of agricultural enterprises, but technical devices that are used for productive mining of cryptocurrencies. Well, it’s logical that the more you use a video card, the extraction capacity will be large, and therefore the number of coins can be extracted more meaningfully. That is why miners equip entire apartments for their capacities, assemble installations from video cards and extract a crypt by the sweat.

Farms are different depending on how much money their owner has. This may be a small farm consisting of several GPUs, or maybe a whole hangar equipped with millions of dollars of enormous power. The last option is the prerogative of the Asian miners who have already done so many farms that they have the largest coin mining in the world.