How to mine bitcoins(bitcoin investment plan)
To mine bitcoins on your own you need a powerful team specialized in this task. The reason is that with increasing competition, home computers don't have enough power to make the task profitable.
Today the best teams are specialized and incorporate ASIC circuits. Its price ranges from 1,300 euros to more than 2,000. Among the houses that manufacture them are the Chinese Canaan, Bitmain, BitFury, or Spondoolies Tech.
In this equipment, it will be necessary to mount specific hardware to mine bitcoins that many times are sold by the same manufacturers. That is the program that will be in charge of effectively mining.
In recent months, an alternative formula to mine bitcoins has taken shape without having to have your own computer. This is cloud mining, with which a mining contract with a certain mining power is rented (ability to solve those algorithms we were talking about). Instead of having the equipment at home or on a ship, you pay a specialized company, which is the one that does the work and then shares the profits with you. Of course, keep in mind that most will reserve the right to keep everything obtained if they understand that the price of bitcoin at that time does not cover their expenses or does not leave enough margin.
How long does it take to mine a bitcoin
The time it takes to mine a bitcoin will mainly depend on the processing power or mining power. The higher it is, the less time it will take. Today machines already include rough statistics on how long it can take and the chances of success.
The thing to keep in mind is that the more people engage in mining and the more competition there is, the harder it will be to mine and the more power will be needed. Similarly, there are fewer and fewer bitcoins left (remember that a maximum of 21 million will be issued) and that is why the network makes it increasingly difficult to mine them.
How much is earned by mining bitcoins
This is the one million question. Is it profitable to mine bitcoin Can you really live on it and make a fortune? As you just saw, making money by mining is not so easy. There are several factors that influence, starting with the processing power you have.
If you prefer, there are also calculators on the internet that offer you the benefit of mining depending on your power.
In any case, the profitability of mining bitcoins is directly related to the price of bitcoin. In other words, the more expensive the coin is, the higher the profitability and vice versa. In this sense, if the difficulty of mining continues to increase because more and more people enter the business and do so with more powerful equipment. The result is that more and more resources must be invested to earn money mining bitcoins.
Miner and businessman
A separate issue is that to be able to mine bitcoins with all the law you must register in the IAE in section 831.0 of section 1.
In addition, if you earn more than 9,600 euros (the Minimum Interprofessional Salary) you will also have to become self-employed and pay the corresponding freelance fee.
How to invest in bitcoins
Another formula to get bitcoins is to invest in virtual currencies. In other words, speculate with the cryptocurrency as we would do with gold, oil or any stock.
How, how much and why need bitcoin investment sitesBitcoin is at highsAt the moment I write this brief note , Bitcoin is at maximumAfter the news that the CME Group has made the decision to create a futures contract .Is the Bitcoin crash close?Well yes and no!
That is, Bitcoin corrects constantly and some of its past corrections could already be considered as crashes.
well sure and it is likely that one will occur soonShould I invest in Bitcoin?Well yes and no again!
Almost every day I hear about the subject while I take my menu of the day ... and according to an old theory this already indicates that it is time to leave for those who have been lucky enough to participate in the exponential rise.
But before continuing I want to emphasize that I consider the investment in Bitcoin or cryptocurrencies an investment for the bravest, and totally optional and that we should do in a very limited way .Why invest in Bitcoin?Some reasons all of them debatable would be:1- The Blockchain is a technological novelty similar to what the internet supposed … but with a difference that takes advantage of the internet which implies that its growth will be much faster.2- Bitcoin is to the blockchain what Google to the internet or something similar .
Following my simplification, what is certain is that Bitcoin is the first implementation of Blockchain, When it went public, Google was trading at $ 100 and many did not dare to invest, because it seemed an exorbitant price, and we let the $ 200 pass, The $ 300.
Bitcoin: an investment with sense(Trusted bitcoin investment site)It is no secret to anyone that Bitcoin has been the most popular and demanded virtual currency in recent years.
Despite this, its value has fallen considerably and many people are concerned about this change, which can greatly affect investments.In this regard, analysts try to reassure investors by making small predictions and studies that still investing in Bitcoin is a good idea.
This risk is not less because it is a wide-ranging digital currency like Bitcoin.
On the contrary, many people are beginning to be careful with the acquisition of this cryptocurrency due to its fall.However, Bitcoin appears to be finding its stability as it is hovering around $ 3,500, with a clear backing of $ 3,000 to $ 3,100.
Although, as we have said before, making exact predictions of how the market will act is a complicated process that not all people can carry out successfully.Changes in the value of BitcoinMainly, we must establish that cryptocurrencies do not have a clear support, so their value is defined by the market, making it possible to change dramatically from one day to the next.This approach allows us to accept that the price of Bitcoin will continue to change on a daily basis, depending on the corresponding flow, although on a much larger scale than expected by any Altcoin.
Likewise, its increase or decrease will be a direct consequence of how valuable it becomes for the market and its position before supply and demand.If, for example, the market is dedicated to selling Bitcoins at a price below what is established at its current value, it will tend to lower its nominal value.
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If you're thinking of how to diversify your cryptocurrency trading portfolio and checking out a couple of alternatives, Monero (XMR) could be the asset to travel for.
this is often the same forum that was founded by Satoshi Nakamoto, the person believed to be behind bitcoin.
Since, then, many developers have contributed to XMR.
How does cryptography shield the identity of the participants?
Monero makes use of three important technologies: Stealth Addresses, Ring Signatures, and RingCT to form sure the privacy of its users.
They ensure untraceability (having multiple possible senders for a transaction) and unlinkability (being unable to prove that multiple transactions were sent to the same person).
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