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Learn All in profitable bitcoin mining

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All about 2018 easy and profitable bitcoin mining with less price and powerful hardware.

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For beginners a short description

Bitcoin mining : where do bitcoins come from? With paper money, a government decides when to print and distribute money. Bitcoin doesn’t have a central government.

With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

Bitcoin is Secure

Bitcoin miners help keep the Bitcoin network secure by approving transactions. Bitcoin Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure

Top 3 Bitcoin Mining Hardware Evaluation





Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:

AntMiner S7

AntMiner S9

Avalon6

·        Advertised Capacity-4.73 Th/s

·        Power efficiency-0.25 W/Gh

·        Weight-8.8 pounds

·        Guide-Yes

·        $479.95

·        At amazon

  • Advertised Capacity-13.5 Th/s
  • Power efficiency-0.098 W/Gh
  • Weight-8.1 pounds
  • Guide-Yes
  • $1,987.95
  • At amazon
  • Advertised Capacity-3.5 Th/s
  • Power efficiency-0.29 W/Gh
  • Weight-9.5 pounds
  • Guide-No
  • $499.95
  • At amazon
Approx. Btc Earned per Month.

0.1635

www.Yourless.com

 

Approx. Btc Earned per Month.

0.3600

www.Yourless.com

 

Approx. Btc Earned per Month.

0.1200

www.Yourless.com

 

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

The Top 5 Best Bitcoin Wallets for bitcoin mining

where should you keep your bitcoins?




Ledger Nano S

Ledger Nano S is a hardware wallet from a French start-up.

It’s like a USB drive which connects to any USB port. It doesn’t have a battery and only starts up when plugged into a computer (or mobile device).

The Ledger doesn’t come with an anti-tampering sticker as its cryptographic procedure checks for integrity of the instrument when powered on.

It also comes with an OLED screen and two side buttons for confirming transactions.

When you configure your Nano S as a new device, you need to set up your pin code to secure your wallet. After that, note down and store your 24-word recovery phrase. This recovery phrase can be used anytime to restore your bitcoins.

ith this wallet, your private keys are stored offline, so you need not worry about the safety of your coins.

Nano S is also the cheapest multi-currency hardware wallet ($65).

The list of Nano S supported cryptos:

  1. BTC – Bitcoin
  2. ETH/ETC – Ethereum/Ethereum Classic
  3. XRP – Ripple
  4. LTC – Litecoin
  5. DOGE – Dogecoin
  6. ZEC – Zcash (Z-addresses not supported)
  7. DASH – Dash
  8. STRAT – Stratis
  9. (coming soon)
  10. XMR – Monero.

2nd is Mycelium

Mycelium is one of easiest Bitcoin wallets. It is an open source and well-established Bitcoin wallet with an active developer community that is always innovating. This is a frictionless tool for storing bitcoins, as it requires no email verifications, no onboarding, and no usernames/passwords to get started. If you are new to Bitcoin, you will love Mycelium’s very easy to use UI, moreover, you control your Bitcoin private key and can always import it when you need to.



Mycelium is an HD wallet which provides you with a 12-word backup seed key which you should write down somewhere and keep safe, in case you damage or lose your device, this backup seed key will enable you to recover your bitcoins.

Mycelium is compatible with Ledger Nano S, Keep Key, Trezor, and also with paper wallets. At present, Mycelium is available on Android and iOS platforms.

Note: If you lose those 12 words, you will lose your bitcoins.

 3rd is Jaxx

Jaxx is the world’s leading multi-asset digital wallet which stores both bitcoins and altcoins, it currently supports 13 crypto coins, and is an ideal choice for multi-cryptocurrency users, with an active development team working at lightning speed, it’s also very reliable. Altcoins such as Monero, Tether, Ripple, and many more are on their development roadmap.

Jaxx provides a seamless, frictionless, and easy to use UI. It takes no email verifications, no onboarding, and no usernames/passwords to start using Jaxx, it is an HD wallet which comes with a seed backup key feature. The seed key helps you in controlling and restoring your crypto assets in case your device is damaged or lost.



You can export your private keys, and import bitcoins or altcoins from paper wallets. Jaxx also has ShapeShift.io integration for currency exchange, which makes it a natural choice for multi-currency lovers.It is available now on iOS mobile/tablet, Chrome & Firefox Extensions, and MAC/Linux desktop versions.

4th is Exodus

Exodus is a free to use, desktop-only wallet crafted by JP Richardson and Daniel Castagnoli in mid-2015, it is the world’s first multi-cryptocurrency desktop wallet.

Simply looking at Exodus.io, you can tell that the company is putting a lot of effort into creating a good user experience, you can store your bitcoins without worry, as Exodus has no hosted servers or logs.

Now, it supports cryptocurrencies like Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, Golem, and Augur.

No registration or identity verification is needed to start using Exodus. But you certainly need to take a backup of your seed key! if you want to access and spend your funds, you are required to set a password.

While taking a backup of your seed key, it also asks for your email id for sending you a one-click link recovery feature. You can always use this email link along with your password to restore your Exodus wallet. However, one thing to remember while using Exodus is that you can only take a backup of the seed key when you have some balance in your wallet.

People like using this wallet because a pie-chart at the center shows your entire token portfolio in one glance. The UI is very nice. Exodus is the first desktop wallet to have Shape-Shift built in for exchanging cryptocurrencies.

And if you need help, you can get personal support from the founders via email, It is available on Mac, Linux, and Windows.

  1. Trezor

Presented by SatoshiLabs, a Czech Republic-based company, Trezor is the world’s first Bitcoin hardware wallet.

It is a small device with an OLED screen, which connects via a USB to your personal computer or phone. Its fundamental purpose is to store your private keys offline and sign transactions.

The initial setup is a bit different from the Ledger Nano S.

With Trezor, when you first connect it to your PC, it shows a nine-digit pin code on its OLED screen. You need to enter the same pin code by clicking on your corresponding PC screen. This code is generated randomly every time you connect Trezor, and makes sure that even a tampered PC can’t get your pin.

After entering the pin, you will be asked to write your 24-word recovery seed. Again, you need to keep your recovery key safe because this is the only way you will be able to restore your bitcoins.

After that, using it is pretty similar to the Nano S.

Trezor now supports many cryptocurrencies:

  • BTC – Bitcoin
  • ETH/ETC – Ethereum/Ethereum Classic
  • NMC – Namecoin
  • LTC – Litecoin
  • DOGE – Dogecoin
  • ZEC – Zcash
  • DASH – Dash

Trezor can be used with apps such as TREZOR Wallet, Mycelium, and Multibit HD.

It is available now for Windows (version 7 and higher), OS X (version 10.8 and higher), and Linux. You can also use it with your Android devices.

It is available in 3 colors – white, gray, and black – and costs $99.

Bitcoin mining with your android phone.



Firstly, Bitcoin is virtual currency that can be either purchased or mined.Bitcoins Mining  needs complex calculations from your device and that is why it is suggested to use best computers.

Though, you can also mine Bitcoins on your spare Android phone by free apps like Easy Miner and LTC Miner they use your phone to calculate algorithms and earn Bitcoins. But now due to massive increase in bitcoin price it will probably take a few months to even earn a single Bitcoin.

You can mine Bitcoins or ETH with your android phone’s processor but I’m afraid you won’t be able to mine any amount of coins. By Mining I mean generating new coins, the whole process of Bitcoin mining has become 1000x more complex as compared to what it was, say 3 or 4 years ago when people could mine some coins using the graphics card in their CPU. The profit was highly deficient or even none in most cases. Bitcoin Mining or mining is all about making random guesses and requires special software’s to solve math problems which are not logical in nature but total guesses. This gets even complex when you know you have competitors all around the world, doing the same thing better than you because they have better mining system. Your chances become very less and thus Mining is not something you would want to do with anything less capable, let alone your android phone.

How Does Bitcoin Mining Work?








In conventional fiat money systems, authorities just print more money when they need to. With bitcoins, money is found and not printed. Computers all over the universe mine for gold coins by contending with one another.

So how exactly does bitcoin mining occur?

Individuals are sending bitcoins to each other over the bitcoin network on a regular basis, but unless someone maintains a record of these trades, no one would have the ability to maintain track of who’d paid what. The bitcoin network deals with this by gathering all the trades made during a set interval into a list, called a block. It’s the miners’ occupation to support those trades, and compose people into a general ledger.

Making a hash of it

How bitcoin mining works? This general ledger is a long list of blocks, called the block chain. It may be used to investigate any trade made between any bitcoin addresses, at any point on the network. Whenever a fresh block of trades is created, it’s added to the block chain, creating an increasingly long list of all the trades that ever happened on the bitcoin network. A continuously updated copy of the block is given to everyone who participates, so they understand what’s happening.

But a general ledger must be trusted, and all this is held digitally. How can we be certain that the block chain remains intact, and is never tampered with? This is the point where the miners come in.

When a block of trades is created, miners set it through a procedure. Miners require the advice in the block, and use a mathematical formula to it, turning it into something different. That something else is a much shorter, apparently random sequence of letters and numbers known as a hash. This hash is stored in addition to the block, at the end of the block chain.

Hashes have some intriguing properties. The hash’s simple to create a hash from a set of data like a bitcoin block, but it’s almost impossible to work out what the data was only by looking at the hash. And while it’s quite simple to create a hash from lots of data, each hash is exceptional. Should you alter just one figure in a bitcoin board, a number of hash changes entirely.

Miners don’t only use the trades in a block to create a hash. A few other pieces of data are used also. One of these pieces of data is the hash of the last block saved in the block chain.

Because each blocks hash is created using the hash of the block before it, it becomes a digital variant of a wax seal. It affirms this block and every block after it’s valid, because if you tampered with it, everyone would understand.

If you attempted to fake a trade by altering a block that had already been kept in the block chain, this would shift that blocks hash. If someone checked the blocks credibility by running the hashing function on it, they’d find the hash was distinct from the one already saved along with that block in the block chain. The block would be immediately seen as a forgery.

Because each blocks hash is used to help create the hash of the next block in the chain, tampering with a block would additionally alter the next blocks hash. So tampering with a block would make the following blocks hash incorrect, also. That would continue all the way down the chain, throwing everything out of whack.

Competing for coins

Miners all compete with each other to do this, using software written especially to mine blocks. Every time someone successfully creates a hash, the miners get a benefit of 25 bitcoins, the block chain is upgraded, and everyone on the network learns about it. That’s the motivator to keep mining, and keep the trades working.

The issue is that it’s quite simple to create a hash from a set of data. Computers are great at this. The bitcoin network has to make it more challenging, otherwise everyone would be hashing hundreds of trade blocks each second, and all the bitcoins would be mined in minutes. The Bitcoin protocol by choice makes it more challenging, by introducing something called a proof of work.

The Bitcoin protocol won’t merely accept any old hash. It requires that a blocks hash has to appear a particular manner; it must have a specific variety of zeroes at the start. There’s no means of telling what a hash is likely to look like before you create it, and when you contain a fresh piece of data in the mixture, the hash will be completely distinct.

Miners aren’t supposed to meddle with the transaction data in a block, but they must alter the data they’re using to create another hash. The miners do this using another, arbitrary piece of data called a nonce. This is used with the transaction data to create a hash. If the hash doesn’t meet the needed format, the nonce is altered, and the whole thing is hashed again. It can require many efforts to locate a nonce that works and all the miners in the network are attempting to do it at exactly the same time. That’s how miners bring in their bitcoins.

 

One cannot easily judge the most profitable cryptocurrency to mine today. It basically depends on the miner’s requirement about the profitable cryptocurrency. One should always mine the most profitable coins required by the miners to mine easily and effectively. There are many various cryptocurrencies one can easily mine it in easy and fair way.

How to choose a potential cryptocurrency:

  1. Low difficulty
  2. High value
  3. Increasing users demand

Crypto-currency mining most common (bitcoin mining) also depends on your hardware power as well as on the specific crypto-currency difficulty. Choosing a decent level of hardware is also the most important way one can choose the most profitable crypto-currency. Else cloud Mining a crypto-currency depends on your hardware power and the specific crypto-currency difficulty. That’s mean with a static level of hardware, or we called it hashing power, you can mine different amount of cryptocurrency due to their difference in difficulty.

For example, bitcoin currently have a skyrocketing high difficulty, so you are nearly impossible to mine one on your own without a god-known hashing power. Relatively, lite-coin, Ethereum, and other newly surfaced cryptocurrency have much lower difficulty to mine on.

The main point at there was choosing a potential cryptocurrency where

  1. Low difficulty
  2. High value
  3. Increasing users demand

Choosing a decent level of hardware is also important if you are going hands on. Else cloud mining is also a nice try for mining cryptocurrency. Try search forums for building guidance.

You should always mine the most profitable coin at the moment.





If you expect it to lower in value, sell it and buy another coin that is expected to increase its value. Mining a less profitable coin and wait for it to value instead will lower your profits. You can use sites to check for the current mining profitability of several coins.

ETH, Dash, and Monero are all good values. If you buy a contract you need to spend a lot upgrading as often as possible because the difficulty of the mining algorithms gets more and more complex.

Depends on what kind of “hardware” you have, be specific about the hardware before asking such questions. if you are using gpu’s like Radeon rx series or older with sufficient vram then ethereum is your best bet at the moment, for midrange nvidia it’s similar story but expensive to buy compared to what profit amd gives.

Genisis Mining is very profitbale.They are the most trusted cloud mining company operating since 2013.

I am using it since a long time. They are giving daily payouts. Genesis offering mining contract for two years. Currently they have contracts for etherum, zcash and monero.

Use Promotional code “oJwQ1A” to get 3% discount at Genesis Mining



There are a few parameters you must take into consideration here:

  • The difficulty of the coin you want to mine;
  • The market value of the coin;
  • the pool where you mine the coin at and the reward system of the pool;
  • your hardware;
  • your power costs;
  • the miner you use to mine;
  • the drivers of your GPU(s);
  • The amount of money you spent on your GPU(s)

These items will determine whether mining is profitable for you or not. There are a few things you cannot control like the difficulty, market value and your power costs.

Do a lot of research about the other items, especially about your GPU’s. It starts with the question whether you choose a GPU from NVIDIA or AMD, as some coins are better mined with NVIDIA GPU’s whilst others are preferably mined with AMD GPU’s.

Paying too much for your GPU(s) will make it hard for you to get a ROI, which makes it harder to get profitable in time.

You should also note that it’s not always a smart move to look at which coin is profitable now. Try to consider the future to determine which coin might have a better value in let’s say 6 months from now. If you start mining a coin which will have doubled its value is better than mining a coin which has high value now, due to the high difficulty.

In other words: mine a coin that no one wants to mine due to low market value, but which will rise in the future.

Therefore, if you really want to know what coin is the post profitable: try some different mining experiments by yourself by mining at different pools and different coins. Check your earnings per 24 hours and let it run for a few days. It will give you the real numbers.

Good-luck with bitcoin mining

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