bitcoin mining reddit represents a topic that has garnered significant attention and interest. Is it worth getting into mining nowadays? : r/CryptoCurrency - Reddit. 101 votes, 226 comments. trueSay there are 10,000 bitcoin miners that all mine at the same rate of 10 TH/s.
The total hash rate of the network is 100K TH/s. The electricity costs of these miners are $3K per day and the mining rewards are split evenly among them in a probabalistic fashion so 900 Bitcoins per day = about $40 M per day split 10,000 ways or $4k per day each. Is it worth it to start mining Bitcoin now? : r/BitcoinMining - Reddit. Furthermore, cloud mining is the super passive option where all you have to do is pay for hashrate.
It is not as profitable in the longrun but I’d say it is also lower risk in the shortrun, assuming you don’t get scammed, because you can estimate the amount of bitcoin you’ll get and you pay a set amount at the start without any worries. In this context, is it worth investing in BTC mining right now? The mining is bringing it in slowly, but my math shows small scale operations like mine don't profit as much as the BTC itself.
However my bet is for the long run.. going to be mining with these machines for years. ELI5: How does crypto mining work? Moreover, : r/explainlikeimfive - Reddit. Similarly, for Bitcoin and similar coins specifically, the miner is taking a selection of recent transactions (that haven't already been recorded in a previous block), adding a little bit of data (including the previous block's hash, the miner's address to send the reward to, and a random value for each attempt), and calculating the cryptographic hash of ...
Can someone explain mining like I'm 5 please? Not sure which part of mining interests you, but first some more general comments about mining: Because Bitcoin is a decentralized system, you need a decentralized workforce to keep it running. Miners are this workforce, which help to keep the infrastructure running and are paid for their services in newly minted Bitcoins. The community of GPU mining enthusiasts, both professionals and hobbyists.
Thinking about using a gaming pc to mine, is it a good idea ... Hi all, I'm new to building PCs and don't know much about cryptocurrencies so I have a few questions: - I'm thinking about building a gaming PC with a Ryzen 5900x cpu and Nvidia Rtx 3080 gpu, would it be a good idea to use this for mining cryptocurrency? Would it be profitable (Average UK electricity price is 16.3 p/kWh) - What cryptocurreny is good to mine? This perspective suggests that, obviously the price for bitcoin is ... Equally important, how to mine BTC with PC in 2024 for fun? I recall having to install mining software, sync data with the internet, and then run another software to mine BTC.
However, I'm unsure about how the mined funds appeared in my blockchain wallet. I've tried searching Google for guides on how to do this, but I couldn't find any recent articles. I've always been interested in Bitcoin, however I am complete beginner to mining.
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