Bitcoin Mining 101 Just The Basic Facts (2017)

kaleemmalikkaleemmalik Member Posts: 10
CPU and GPU Bitcoin mining is dead, you will never mine anything but dust and will never receive a
payout from a pool.

2) Bitcoin difficulty will adjust, meaning so will your income. Difficulty long term trend has been a steady
increase for the last few years. Of course difficulty could drop, it has before, but its rare when it does and
even more rare is a drop that is meaningful.

3) Bitcoin miners in general produce significant heat loads and you will have to deal with it one way or
another.

4) Bitcoin miners can take significant electrical resources to power them. You should know 100% if the
circuits powering your miners are rated for the load you're putting on them. If you don't you should get
professional assistance.

5) Bitcoin miners in general are LOUD! As in vacuum cleaner to hair-dryer loud.


Thanks to NotFuzzyWarm for #5

Comments

  • e_ownere_owner Member Posts: 12
    Hey! Thank you for facts, they are simple but useful. It seems that Bitcoin traditional mining is extremely uncomfortable and even unprofitable process. Really? I heard that hardware mining is cool and there’re no alternatives. Maybe, you can update this list with more actual info and with comparison of facts? Like, I’d be grateful for some info on cloud mining (you may start exploring sites from the list: http://miningtop10.com/ ). Other newcomers will also say thanks for more detailed guide. Now it’s only a few facts without solid structure, sorry.
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