Btc mining

AG47

Which is better return on investment, buying itching or mining equipment to mine bitcoins?

bowlhead99

AG47 wrote: »

Which is better return on investment, buying itching or mining equipment to mine bitcoins?

I don't know what "buying itching" is, but buying the computing power to mine bitcoins at a decent rate can be ludicrously expensive.

If you were mining bitcoins 8 years ago when there weren't many bitcoins yet in existence and they were worth a few cents each, you could do it with a home PC. Not these days.

Bravepants

The way the mechansim works is that for each bitcoin that is discovered it takes longer to find the next. So hardware that is great this year may not be next year. I believe that ALL bitcoins will be found by the year 2147 or so, so lots of time for bit coin mining hardware manufacturers to make their money.

AnotherJoe

There are factories full of computing equipment doing nothing but mine bitcoins full time. So anything you do would be far less than pathetically inadequate (no offence meant )

So, do something else to make your millions.

JohnRo

Bravepants wrote: »

The way the mechansim works is that for each bitcoin that is discovered it takes longer to find the next.

No that's not how it works, the difficulty algorithm controls mining production speed and that's engineered to either increase or decrease difficulty over time so that one block of transactions, on average, is resolved every ten minutes (and the coin reward distributed to the solver) until all coins have been mined into existence which is still decades away.

If more and more people are 'mining' for the block puzzle solution it will generally be solved faster so the difficulty is then increased by the algorithm to account for that, that's what's been happening though not consistently. The difficulty has on occasion reduced but it's the exception.

The problem is it has created an arms race for more processing power just to maintain a share of the total. That has the effect of creating a barrier to entry where now the processing power and cost required to make any sort of worthwhile return is huge.

That's reflected to a large extent in the price.

sadafmehreen

is there any one authentic website for bitcoin investments?
I have found many on the internet but have no idea on which one to rely on...?

Malthusian

sadafmehreen wrote: »

is there any one authentic website for bitcoin investments?
I have found many on the internet but have no idea on which one to rely on...?

There's not any one in particular, no.

If you can't distinguish between the outright scammers, the currently legitimate and the currently-legitimate-but-tomorrow's-Mt-Gox then Bitcoin is best avoided.

Zola.

AG47 wrote: »

Which is better return on investment, buying itching or mining equipment to mine bitcoins?

This is what you need to mine BTC in 2017

https://www.youtube.com/watch?v=K8kua5B5K3I

markj113

I would giving mining bitcoin in the UK a miss.

Power costs are too expensive.

peterrussel

What is the algorithm for Bitcoin?

robatwork

Itching equipment is freely available.

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