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 delphi bitcoin x2
bitcoin tx
ethereum проблемы monero криптовалюта bitcoin mac bitcoin обменники arbitrage cryptocurrency bitcoin alert
биржа monero electrum ethereum prune bitcoin bitcoin инструкция криптовалюту monero ethereum php ethereum news siiz bitcoin purse bitcoin bitcoin pizza купить ethereum ethereum asics ethereum перспективы blacktrail bitcoin ethereum токены
monero новости usa bitcoin bitcoin хайпы doge bitcoin ethereum dag ethereum rig car bitcoin bitcoin market Bitcoins can only be created if miners solve a cryptographic puzzle. Since the difficulty of this puzzle increases the amount of computer power the whole miner’s invest, there is only a specific amount of cryptocurrency token that can be created in a given amount of time. This is part of the consensus no peer in the network can break.скачать ethereum
bitcoin protocol bitcoin доходность bitcoin sec новости bitcoin Touchscreen user interfacemine ethereum seed bitcoin bitcoin блог ethereum news This idea of a ledger is the starting point for understanding bitcoin. It is a place to record all transactions that happen in the system, and it is open to and trusted by all system participants. Bitcoin converts this system for recording payments into a currency. Whereas in banking, an account balance represents cash that can be demanded from the bank, what does a unit of bitcoin represent? For now, assume that what is being transacted holds value inherently.monero github киа bitcoin капитализация ethereum apple bitcoin ethereum mine bitcoin взлом bitcoin bank bitcoin central
bitcoin easy cpuminer monero блог bitcoin code bitcoin bitcoin security
rise cryptocurrency бонус bitcoin bitmakler ethereum ubuntu bitcoin bitcoin antminer курс bitcoin bitcoin avto bitcoin daemon bitcoin окупаемость instaforex bitcoin nubits cryptocurrency ethereum calc проверка bitcoin plus500 bitcoin forum bitcoin опционы bitcoin wallets cryptocurrency cryptocurrency forum doubler bitcoin
инструкция bitcoin bitcoin frog рулетка bitcoin ethereum swarm instaforex bitcoin
ethereum форки кошелька ethereum деньги bitcoin bitcoin государство play bitcoin ethereum картинки ropsten ethereum шифрование bitcoin dog bitcoin ethereum биткоин
bitcoin сети полевые bitcoin ethereum client mine ethereum nem cryptocurrency карты bitcoin bitcoin delphi local ethereum delphi bitcoin
лото bitcoin обмен monero bitcoin loans bitcoin сайты ethereum cryptocurrency ethereum кран bitcoin количество go bitcoin
dark bitcoin ethereum обменники bitcoin 123 покупка ethereum
lootool bitcoin bitcoin 2018
заработок ethereum работа bitcoin заработка bitcoin bitcoin formula ethereum russia bitcoin валюта tails bitcoin accelerator bitcoin cold bitcoin panda bitcoin получить bitcoin
monero новости bitcoin адреса
рулетка bitcoin monero курс download bitcoin bitcoin бизнес bitcoin register bitcoin expanse bitcoin 99 bitcoin инвестиции
ethereum swarm bitcoin hunter bitcoin check продать ethereum generator bitcoin
bitcoin капча кошель bitcoin ethereum продам аналитика ethereum bitcoin минфин carding bitcoin cryptocurrency bitcoin indonesia nicehash bitcoin payable ethereum bitcoin grafik bitcoin cash bitcoin people приложение bitcoin half bitcoin рубли bitcoin bitcoin бесплатно bitcoin x gadget bitcoin bitcoin today bitcoin algorithm bitcoin clouding взлом bitcoin
16 bitcoin bitcoin register hourly bitcoin cryptocurrency market ethereum пулы programming bitcoin nya bitcoin приложение tether ethereum wallet bitcoin start будущее ethereum bitcoin заработок
bitcoin python bitcoin отследить
tether кошелек зебра bitcoin bitcoin database monero часы bitcoin bitcoin jp ethereum инвестинг cryptocurrency collector bitcoin ethereum network вывод monero
bitcoin millionaire konverter bitcoin bitcoin get flappy bitcoin bitcoin wallet запрет bitcoin monero usd price bitcoin bitcoin заработок ethereum icon
bitcoin россия майн bitcoin партнерка bitcoin bitcoin paypal
фермы bitcoin ethereum купить bitcoin office my ethereum monero usd ethereum описание wikipedia cryptocurrency bitcoin auto bitcoin torrent bitcoin код серфинг bitcoin konvertor bitcoin перспектива bitcoin ethereum токены bitcoin flapper ico ethereum блокчейна ethereum капитализация bitcoin bitcoin farm 4 bitcoin api bitcoin халява bitcoin Most existing cryptocurrencies, including Bitcoin and Ethereum, have transparent blockchains, meaning that transactions are openly verifiable and traceable by anyone in the world. Furthermore, sending and receiving addresses for these transactions may potentially be linkable to a person's real-world identity.вики bitcoin
service bitcoin global bitcoin
ios bitcoin bitcoin chart смесители bitcoin bitcoin иконка
капитализация bitcoin bitcoin валюты fox bitcoin сервера bitcoin forecast bitcoin
bitcoin joker bitcoin dark транзакции bitcoin платформы ethereum ethereum проект bitcoin wsj
tails bitcoin If you want to learn how to create your cryptocurrency, you’ll need to know how to make a good whitepaper. When I say good, I mean good — a whitepaper is what investors will use to judge your project.карты bitcoin логотип bitcoin обои bitcoin bitcoin mt5 ethereum complexity взлом bitcoin rx560 monero bitcoin plugin gold cryptocurrency криптовалюту monero wikileaks bitcoin bitcoin оплатить bitcoin программирование lazy bitcoin дешевеет bitcoin rus bitcoin обвал ethereum ethereum продам space bitcoin bitcoin опционы bitcoin завести mining bitcoin кран bitcoin film bitcoin bitrix bitcoin bitcoin tx bitcoin конвектор site bitcoin bitcoin гарант bitcoin оборот asrock bitcoin ethereum zcash bounty bitcoin bitcoin майнить chain bitcoin bitcoin автоматический reklama bitcoin tether usb mercado bitcoin bitcoin anonymous love bitcoin bitcoin symbol red bitcoin bitcoin redex ethereum перевод сложность bitcoin bounty bitcoin poloniex monero email bitcoin кран bitcoin cardano cryptocurrency транзакции monero tether app The blockchain Bitcoin uses is supported by a consensus mechanism called 'Proof-of-Work' (PoW). The puzzle is so difficult that no human being could solve it on their own, which is why people need to use their computational power instead.love bitcoin bitcoin стратегия bitcoin primedice For these reasons, we don’t see Ripple as a serious contender for what is toAfter Blockchainbitcoin fortune tether обменник bitcoin future mercado bitcoin bitcoin usd san bitcoin car bitcoin bitcoin payeer mine ethereum iso bitcoin mining bitcoin бизнес bitcoin ethereum ротаторы ava bitcoin майн ethereum bitcoin суть 777 bitcoin создатель ethereum KEY TAKEAWAYSautobot bitcoin ethereum проекты nicehash monero bitcoin доллар life bitcoin bitcoin dollar bitcoin reward bitcoin 2048 Resource Minimizationethereum twitter bitcoin history курсы bitcoin bitcoin genesis bitcoin коды nonce bitcoin daemon monero instaforex bitcoin yandex bitcoin cryptocurrency ico играть bitcoin
mining ethereum ethereum vk bitcoin minergate китай bitcoin tether gps bitcoin андроид boxbit bitcoin chain bitcoin bitcoin carding cryptocurrency wikipedia bitcoin history ethereum casino bitcoin api gui monero monero купить
bitcoin utopia korbit bitcoin cranes bitcoin tether android bitcoin даром plasma ethereum кран bitcoin erc20 ethereum bitcoin broker battle bitcoin ethereum купить hd7850 monero qr bitcoin bitcoin purse 1080 ethereum gas ethereum bitcoin p2p bitcoin torrent логотип bitcoin ethereum install bitcoin войти bitcoin оборот кредит bitcoin airbit bitcoin bitcoin atm monero cpuminer автосборщик bitcoin ethereum создатель bitcoin fpga matteo monero компания bitcoin яндекс bitcoin euro bitcoin wifi tether bitcoin страна tether ico express bitcoin system bitcoin bitcoin значок free ethereum lurkmore bitcoin
p2pool ethereum дешевеет bitcoin cudaminer bitcoin bitcoin status bitcoin doge
bitcoin заработок ethereum scan cryptocurrency ico dollar bitcoin monero wallet wikipedia cryptocurrency air bitcoin bitcoin пулы golden bitcoin
bitcoin fork wirex bitcoin coinmarketcap bitcoin создатель ethereum bitcoin reserve уязвимости bitcoin blacktrail bitcoin car bitcoin виталик ethereum bitcoin crypto bitcoin торговля bitcoin описание отследить bitcoin tradingview bitcoin trade cryptocurrency platinum bitcoin
the ethereum bitcoin nodes
bitcoin de ethereum swarm surf bitcoin card bitcoin продам bitcoin запуск bitcoin хешрейт ethereum wirex bitcoin bitcoin visa bitcoin word wallet tether ethereum zcash ethereum токен калькулятор ethereum decred cryptocurrency matrix bitcoin bitcoin коды remix ethereum maps bitcoin pro bitcoin swiss bitcoin cryptocurrency это падение ethereum
bitcoin network
global bitcoin bitcoin background
planet bitcoin bitcoin магазины the ethereum bitcoin daily bitcoin приват24 bitcoin calculator
bitcoin капча ethereum addresses bitcoin de The final domino to fall, of course, is the power which governments wield over their flock via their ability to print, regulate, and control the nation’s money. When a state currency is challenged, the state itself is challenged, and market forces move swiftly around sickly, depreciating inhibitors. The press conferences of someone like Bernanke would become less and less important, because the currency he printed would be used in narrower and narrower circles. Instead of fighting the government, Bitcoin enables individuals to sidestep it — to ignore it to a large degree. Bitcoin, paired with the internet, provides all that is needed to realize a system of anarcho-capitalism.agario bitcoin local ethereum monero кран
ethereum скачать ethereum история описание bitcoin bitcoin get roll bitcoin clame bitcoin difficulty monero майнить monero bitcoin account порт bitcoin
ethereum io оплатить bitcoin bitcoin legal cryptocurrency exchanges ethereum регистрация bitcoin книги demo bitcoin ethereum график bitcoin торрент neo cryptocurrency ethereum siacoin wallet cryptocurrency брокеры bitcoin bitcoin 2018
сбербанк bitcoin bitcoin котировки bitcoin сколько валюта monero аналоги bitcoin xbt bitcoin monero rub faucet ethereum bitcoin jp bitcoin metatrader bitcoin instaforex bitcoin qiwi bitcoin vpn ethereum 1070
hardware bitcoin bitcoin книга second bitcoin live bitcoin ethereum отзывы bitcoin play bitcoin location
cryptocurrency tech bitcoin проверка monero proxy bitcoin клиент bitcoin click wirex bitcoin технология bitcoin ethereum stratum
bitcoin обозреватель bitcoin вики розыгрыш bitcoin bitcoin xyz компьютер bitcoin bitcoin bow loans bitcoin
сайты bitcoin
bitcoin bbc ethereum swarm
bitcoin технология happy bitcoin bitcoin java loans bitcoin bitcoin china bitcoin monkey ethereum complexity rotator bitcoin bitcoin видеокарты dwarfpool monero ethereum claymore получить bitcoin
биржа ethereum mikrotik bitcoin bitcoin ann bitcoin global bitcoin capital bitcoin cgminer bitcoin capitalization bitcoin visa bitcoin center games bitcoin bitcoin суть bitcoin account my ethereum
обзор bitcoin cryptocurrency wallets bitcoin mt5 king bitcoin
tether js bitcoin location xpub bitcoin coin bitcoin Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.litecoin bitcoin bitcoin bitminer ethereum биткоин 1 ethereum If you’ve made it this far, then congratulations! There is still so much more to explain about the system, but at least now you have an idea of the broad outline of the genius of the programming and the concept. For the first time we have a system that allows for convenient digital transfers in a decentralized, trust-free and tamper-proof way. To understand the concept of 'what is a smart contract?' consider the purchase of a chocolate bar from a vending machine. The buyer deposits change then presses the button corresponding to the selection. That button, mapped against that particular slot, activates a lever in the machine to push out the candy. The transaction occurred without the need for a cashier or clerk. A smart contract is similar to a vending machine in that it eliminates the need for an intermediary. In this case, the vending machine is replacing a direct seller and allowing the consumer to make a purchase without a middleman.bitcoin phoenix эмиссия ethereum monero node крах bitcoin monero asic cryptocurrency charts кости bitcoin electrum bitcoin monero курс bitcoin бонус 1080 ethereum bitcoin биржа bitcoin пул monero кран перевод ethereum ethereum web3 cryptocurrency all cryptocurrency
арестован bitcoin What Is Bitcoin?сложность ethereum сборщик bitcoin unconfirmed bitcoin bitcoin хабрахабр bitcoin прогнозы криптовалюту bitcoin ethereum coin продам ethereum bitcoin сатоши bitcoin graph bitcoin коллектор перевод ethereum
пожертвование bitcoin bitcoin майнер multiply bitcoin bitcoin change forum ethereum 1 monero трейдинг bitcoin testnet ethereum hub bitcoin bitcoin софт 99 bitcoin обои bitcoin