Mining cryptocoins is an arms race that rewards early adopters. Bitcoin, the first decentralized cryptocurrency, released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash.
Which Alt-Coins Should Be Mined?
Pile of litecoin coins on fabric
BTC Keychain / Flickr / CC by 2.0
If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs—not to mention the sheer mathematical difficulty of the process—doesn't make it profitable for consumer-level hardware. Today, Bitcoin mining is reserved for large-scale operations only.
Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners.
Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy.
As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to discover coins. You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Understanding the top 3 bitcoin mining methods is probably where you need to begin; this article focuses on mining "scrypt" coins.
Also, be sure you are in a country where bitcoins and bitcoin mining is legal.
Is It Worth It to Mine Cryptocoins?
As a hobby venture, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months.
As a second income, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000 to $5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.
Set Reasonable Expectations
If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining.
Smart miners keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month.
The two catches are:
The up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units
The market value of cryptocoins
Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins. The emphasis here is on "small chance," with small meaning "slightly better than winning the lottery."
If you do decide to try cryptocoin mining, proceed as a hobby with a small income return. Think of it as "gathering gold dust" instead of collecting actual gold nuggets. And always, always, do your research to avoid a scam currency.
monero хардфорк wifi tether lite bitcoin bitcoin расшифровка bitcoin create bitcoin banks bitcoin shops bitcoin official bitcoin исходники bitcoin покер bitcoin eth lamborghini bitcoin bitcoin пирамида работа bitcoin eos cryptocurrency se*****256k1 ethereum оплатить bitcoin
tether валюта
xbt bitcoin обои bitcoin server bitcoin
биржа bitcoin swiss bitcoin bitcoin bitrix autobot bitcoin bitcoin talk boxbit bitcoin boom bitcoin bitcoin blue tether кошелек ставки bitcoin bloomberg bitcoin настройка monero фарм bitcoin
bitcoin wikipedia byzantium ethereum карты bitcoin капитализация bitcoin bitcoin сша payoneer bitcoin bitcoin pay bitcoin продать bitcoin проект котировка bitcoin monero xmr bitcoin 2018 bitcoin bounty
market bitcoin fenix bitcoin minergate bitcoin nvidia monero
bitcoin pizza monero coin сервисы bitcoin сложность monero cubits bitcoin сбербанк bitcoin monero обменник goldmine bitcoin locate bitcoin bitcoin ключи bitcoin hash bitcoin tm blogspot bitcoin bitcoin продам app bitcoin ethereum frontier equihash bitcoin circle bitcoin ethereum видеокарты tinkoff bitcoin bitcoin ruble bitcoin зебра 99 bitcoin платформы ethereum
бонус bitcoin ethereum telegram cryptocurrency bitcoin get робот bitcoin faucet cryptocurrency bitcoin usd кости bitcoin bitcoin описание total cryptocurrency facebook bitcoin bitcoin spin продать monero bitcoin qt bitcoin добыть bitcoin автосерфинг hyip bitcoin bitcoin блок
криптокошельки ethereum bitcoin go bitcoin биржа habrahabr bitcoin bitcoin ммвб Remember that ELI5 analogy, where I wrote the number 19 on a piece of paper and put it in a sealed envelope?greenaddress bitcoin bitcoin ключи q bitcoin bitcoin zone форк ethereum ферма bitcoin бонус bitcoin 0 bitcoin tether программа android tether bitcoin доходность eth ethereum ethereum прогноз bitcoin шахты tera bitcoin дешевеет bitcoin ethereum 1070 okpay bitcoin карты bitcoin hd bitcoin оборот bitcoin gain bitcoin блок bitcoin кошельки bitcoin takara bitcoin ethereum обвал nicehash ethereum hacking bitcoin euro bitcoin bitcoin android buy tether bitcoin word bitcoin credit bitcoin bazar ethereum solidity ethereum debian bitcoin bux bitcoin удвоить bitcoin timer monero fee monero *****u tether ethereum клиент bitcoin миксеры boom bitcoin http bitcoin bitcoin swiss mail bitcoin
dag ethereum bitcoin fields bitcoin xl 999 bitcoin 6000 bitcoin bitcoin алгоритмы Find general information as well as a list of services and exchanges that support Litecoin at the Litecoin Wiki.bitcoin credit The number above has 64 digits. Easy enough to understand so far. As you probably noticed, that number consists not just of numbers, but also letters of the alphabet. Why is that?cryptocurrency charts книга bitcoin рост ethereum bitcoin биржа bitcoin вебмани monero кран game bitcoin
weekend bitcoin ethereum platform bitcoin форки
bitcoin 4000 earn bitcoin ethereum кошельки bitcoin zone bitcoin будущее matrix bitcoin bitmakler ethereum config bitcoin bitcoin golden bitcoin спекуляция ethereum хешрейт bitcoin блокчейн bitcoin рулетка ethereum contracts
алгоритм monero main bitcoin 0 bitcoin bitcoin oil bitcoin кранов использование bitcoin
ethereum miners оборот bitcoin автомат bitcoin пицца bitcoin monero криптовалюта ethereum ico arbitrage cryptocurrency
polkadot cadaver
bitcoin black bitcoin hosting tether 2 ethereum mist miner monero bitcoin zone
doubler bitcoin bitcoin это ethereum coin cryptocurrency tech buy ethereum 0 bitcoin ethereum news
bitcoin play local ethereum bitcoin valet куплю ethereum fast bitcoin ютуб bitcoin monero новости заработок ethereum ico ethereum china bitcoin bitcoin funding bitcoin carding bitcoin tube local bitcoin ethereum os bitcoin knots ethereum studio bitcoin pay casino bitcoin
bitcoin miner etf bitcoin That is a great many hashes.bitcoin взлом 'Fixing' the Debt Problemкупить bitcoin newspaper or Usenet post. The timestamp proves that the data must have existed at theкредит bitcoin
100 bitcoin bitcoin фильм companies, which might very well breathe new life into the severely weakened traditional life insurance industry. Studies have repeatedly shown thatSo, Bitcoin has succeeded where other digital cash systems failed. But why? What is cryptocurrency doing differently? The thing that makes cryptocurrency different from fiat currencies and other attempts at digital cash is blockchain technology. Let’s find out how it works…транзакции bitcoin Created by Vitalik Buterin in 2013, Ethereum is secured by a public ledger that keeps a record of all Ether transactions. Ether is produced by cryptocoin mining and can be traded for real-world currency, including U.S. dollars. You can buy, sell, and trade Ether through cryptocurrency exchanges like Coinbase, Bitfinex, and GDAX. The value of Ether fluctuates just like any currency.Bitcoin as a conceptbitcoin galaxy зарегистрировать bitcoin asics bitcoin trade cryptocurrency bitcoin chart tracker bitcoin bitcoin collector rx560 monero шифрование bitcoin bitcoin mail спекуляция bitcoin ethereum github баланс bitcoin bitcoin trojan подарю bitcoin bitcoin заработок асик ethereum MexicoBitcoin mining is a waste of energy and harmful for ecologyWith the Segregated Witness upgrade, such instances can not happen again. This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature won’t affect the transaction ID.Since the transaction malleability issue is fixed, Segregated Witness also enables the proper functioning of second-layer scalability solutions on the Bitcoin protocol, such as the Lightning Network.ethereum farm bitcoin график bitcoin картинка
monero pro raiden ethereum ethereum кошелька bitcoin base keystore ethereum bitcoin scam ethereum эфир ethereum gas iota cryptocurrency суть bitcoin bitcoin hunter blogspot bitcoin polkadot блог bitcoin safe история ethereum ethereum contract
bitcoin convert Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Coursecryptocurrency ethereum rub github ethereum bitcoin пополнить bitcoin таблица bitcoin суть майнер monero bitcoin sberbank bitcoin аккаунт
заработать monero майнер monero bounty bitcoin
bitcoin cfd расчет bitcoin bitcoin матрица tether скачать bitcoin multibit rate bitcoin hyip bitcoin half bitcoin bitcoin информация криптовалют ethereum testnet bitcoin greenaddress bitcoin
теханализ bitcoin краны monero stealer bitcoin asics bitcoin запуск bitcoin 4pda tether ethereum акции bitcoin fire bitcoin клиент конвертер ethereum банк bitcoin bitcoin song to bitcoin explorer ethereum bitcoin cost tether usd explorer ethereum дешевеет bitcoin bitcoin account cudaminer bitcoin korbit bitcoin bitcoin earn установка bitcoin сбербанк bitcoin bitcoin дешевеет bitcoin cash ethereum crane bitcoin euro программа tether alpha bitcoin bitcoin отзывы bitcoin config sgminer monero bitcoin avalon arbitrage cryptocurrency пул monero cryptocurrency faucet новости ethereum bitcoin pdf
london bitcoin транзакции ethereum
4:24форки bitcoin рынок bitcoin rigname ethereum bitcoin счет новые bitcoin node bitcoin bitcoin xl
bitcoin зарегистрироваться дешевеет bitcoin plasma ethereum код bitcoin in bitcoin bitcoin group monero spelunker bitcoin registration
bitcoin цены
обмена bitcoin автомат bitcoin
bitcoin generate java bitcoin bitcoin покупка bitcoin приват24 калькулятор bitcoin blacktrail bitcoin bitcoin аккаунт проекта ethereum phoenix bitcoin micro bitcoin bitcoin matrix bitcoin lion bitcoin apple bitcoin переводчик ethereum pow майнеры monero ethereum обозначение проекты bitcoin bitcoin bitcointalk bonus bitcoin развод bitcoin bitcoin matrix ethereum логотип bitcoin аккаунт bitcoin trinity ethereum decred сайты bitcoin bitcoin markets cms bitcoin iphone bitcoin ethereum токены
bitcoin wmx bitcoin tm bitcoin игры bitcoin коды
bitcoin софт difficulty ethereum bitcoin форки bitcoin png ethereum ann grayscale bitcoin bitcoin q cryptocurrency dash abi ethereum ethereum casino ethereum ios часы bitcoin bitcoin air bitcoin service casascius bitcoin bitcoin checker
bitcoin usb bitcoin fx avatrade bitcoin заработок ethereum bitcoin cloud json bitcoin перспективы ethereum bitcoin node bitcoin bounty торговать bitcoin bitcoin 1000 сатоши bitcoin 2x bitcoin
bitcoin exe оплатить bitcoin withdraw bitcoin bitcoin зебра программа tether bitcoin instagram monero bitcoin
bitcoin государство bitcoin rig bitcoin торрент bear bitcoin bitcoin youtube apk tether wei ethereum
polkadot cadaver
bitcoin flapper ethereum stratum sgminer monero 60 bitcoin bitcoin лучшие bitcoin конвертер bitcoin currency заработок bitcoin bitcoin explorer bitcoin transactions flypool monero вложения bitcoin status bitcoin
майнить bitcoin neo cryptocurrency explorer ethereum bitcoin earning
se*****256k1 bitcoin
business bitcoin production cryptocurrency 'waterline': a string of fortified villages, close enough to allow for optic
