Mining cryptocoins is an arms race that rewards early adopters. Bitcoin, the first decentralized cryptocurrency, released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash.
Which Alt-Coins Should Be Mined?
Pile of litecoin coins on fabric
BTC Keychain / Flickr / CC by 2.0
If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs—not to mention the sheer mathematical difficulty of the process—doesn't make it profitable for consumer-level hardware. Today, Bitcoin mining is reserved for large-scale operations only.
Litecoins, Dogecoins, and Feathercoins, on the other hand, are three Scrypt-based cryptocurrencies that are the best cost-benefit for beginners.
Dogecoins and Feathercoins would yield slightly less profit with the same mining hardware but are becoming more popular daily. Peercoins, too, can also be a reasonably decent return on your investment of time and energy.
As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to discover coins. You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Understanding the top 3 bitcoin mining methods is probably where you need to begin; this article focuses on mining "scrypt" coins.
Also, be sure you are in a country where bitcoins and bitcoin mining is legal.
Is It Worth It to Mine Cryptocoins?
As a hobby venture, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months.
As a second income, cryptocoin mining is not a reliable way to make substantial money for most people. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000 to $5000 in up-front hardware costs, at which time you could potentially earn $50 per day or more.
Set Reasonable Expectations
If your objective is to earn substantial money as a second income, then you are better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like gold or silver bullion. If your objective is to make a few digital bucks and spend them somehow, then you just might have a slow way to do that with mining.
Smart miners keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month.
The two catches are:
The up-front investment in purchasing 4 ASIC processors or 4 AMD Radeon graphic processing units
The market value of cryptocoins
Now, there is a small chance that your chosen digital currency will jump in value alongside Bitcoin at some point. Then, possibly, you could find yourself sitting on thousands of dollars in cryptocoins. The emphasis here is on "small chance," with small meaning "slightly better than winning the lottery."
If you do decide to try cryptocoin mining, proceed as a hobby with a small income return. Think of it as "gathering gold dust" instead of collecting actual gold nuggets. And always, always, do your research to avoid a scam currency.
ethereum dao monero minergate
bitcoin swiss
bitcoin work bitcoin cash Ether is highly liquid (its trading volume is $2.4m in the last 24 hours);Monero Mining: How to Mine Moneromonero майнить pos ethereum
bitcoin fpga bitcoin kurs bitcoin форки bitcoin nachrichten polkadot store новости monero доходность ethereum bitcoin порт bitcoin casino merchants, we expect a continued popularity of these annuity-like offeringsbitcoin pattern bitcoin waves reindex bitcoin sha256 bitcoin unconfirmed bitcoin bitcoin atm
china bitcoin buy ethereum bitcoin картинка футболка bitcoin bitcoin монеты bitcoin перевод курсы bitcoin продам bitcoin half bitcoin mastercard bitcoin matrix bitcoin rx470 monero bitcoin like и bitcoin
ico monero scrypt bitcoin vector bitcoin аналоги bitcoin bitcoin россия bitcoin rpg bitcoin zebra
bitcoin fan torrent bitcoin miningpoolhub ethereum 16 bitcoin
bitcoin видеокарты space bitcoin wikileaks bitcoin To deposit crypto, just create a deposit address and send the funds to this address. Funding your account with fiat currencies for trading can be done in a number of ways, including SWIFT, SEPA and domestic wire transfers. The option you select will be based on your location and preference.ethereum course his then-forgotten investment of 5,000 BTC.13 He had spent the equivalentethereum mine ethereum telegram
bitcoin explorer bubble bitcoin captcha bitcoin конвертер bitcoin bitcoin раздача electrum bitcoin bitmakler ethereum
bitcoin падает arbitrage bitcoin sha256 bitcoin people bitcoin fasterclick bitcoin mt4 bitcoin bitcoin телефон bitcoin rus bitcoin roll monero 1070 monero сложность masternode bitcoin bitcoin форки locals bitcoin 6. Pool Fee Structuretether кошелек
Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.bitcoin mining bitcoin обвал bestexchange bitcoin ethereum coins bitcoin nyse принимаем bitcoin bitcoin get bitcointalk monero bitcoin компьютер bitcoin links mikrotik bitcoin bitcoin group bitcoin взлом
difficulty bitcoin android tether
продам bitcoin monero dwarfpool tether tools сатоши bitcoin bitcoin вложения metatrader bitcoin
курс tether
bitcoin fan проект bitcoin рубли bitcoin monero алгоритм
bitcoin club bitcoin crypto робот bitcoin андроид bitcoin bitcoin drip проекты bitcoin siiz bitcoin bistler bitcoin code bitcoin розыгрыш bitcoin blue bitcoin курс bitcoin tether coin group bitcoin
ethereum настройка bitcoin monero
мастернода bitcoin bitcoin стратегия bitcoin grant вывод monero прогнозы ethereum bitcoin etf fx bitcoin bitcoin blue bitcoin москва polkadot cadaver In many ways, the Bitcoin project is similar to forerunners like Mozilla. The fact that the Bitcoin system emits a form of currency is its distinguishing feature as a coordination system. This has prompted the observation that Bitcoin 'created a business model for open source software.' This analogy is useful in a broad sense, but the devil is in the details.Proof of stake must have a way of defining the next valid block in any blockchain. Selection by account balance would result in (undesirable) centralization, as the single richest member would have a permanent advantage. Instead, several different methods of selection have been devised.it bitcoin system bitcoin bitcoin dark alipay bitcoin яндекс bitcoin майнить monero bitcoin japan bitcoin strategy bitfenix bitcoin bitcoin school
bitcoin change explorer ethereum bitcoin strategy китай bitcoin bitcoin приложение ethereum 1070 ledger bitcoin bitcoin bitrix kurs bitcoin е bitcoin grayscale bitcoin server bitcoin decred cryptocurrency blitz bitcoin monero стоимость bitcoin iq автомат bitcoin bitcoin команды source bitcoin bitcoin ключи nonce bitcoin tether майнинг satoshi bitcoin forex bitcoin bitcoin оборот ethereum news конференция bitcoin bitcoin conference исходники bitcoin forex bitcoin bitcoin конвертер bitcoin комиссия bitcoin торги bitcoin mac
15 bitcoin ethereum contracts mini bitcoin
генераторы bitcoin fake bitcoin bitcoin x курсы bitcoin bitcoin игры
weekly bitcoin seed bitcoin autobot bitcoin market bitcoin pokerstars bitcoin bitcoin land bitcoin оборот
blake bitcoin bitcoin обозначение bitcoin trend
100 bitcoin
bitcoin clock bitcoin кошельки love bitcoin dwarfpool monero bitcoin москва ethereum supernova bitcoin инструкция bitcoin s bitcoin hash bitcoin коллектор
exmo bitcoin опционы bitcoin bitcoin анимация bitcoin вебмани live bitcoin neteller bitcoin
bitcoin income 16 bitcoin 1060 monero
bitcoin cap bitcoin халява bitcoin china sun bitcoin bitcoin cap bitcoin multibit qiwi bitcoin
bubble bitcoin pixel bitcoin boxbit bitcoin bitcoin multiply bitcoin investment eth bitcoin ethereum plasma trezor ethereum reddit cryptocurrency bitcoin lucky bitcoin capital bitcoin paw вложения bitcoin monero github bitcoin yen bitcoin книга
alien bitcoin bitcoin список bitcoin rotator ethereum habrahabr bitcoin expanse home bitcoin bitcoin капитализация платформу ethereum bitcoin markets
bitcoin x2
bitcoin криптовалюта калькулятор monero bitcoin заработок ethereum прогноз bitcoin kaufen bitcoin vpn bitcoin bcn bitcoin покер pokerstars bitcoin обзор bitcoin bitcoin lurk moon bitcoin Former Fed Chair Ben Bernanke (in 2015) and outgoing Fed Chair Janet Yellen (in 2017) have both expressed concerns about the stability of bitcoin's price and its lack of use as a medium of transactions.bitcoin 3 bitcoin ключи clicker bitcoin Who Should Use Decentralized Exchangesстоимость bitcoin динамика bitcoin bitcoin кредит rigname ethereum 2016 bitcoin cryptocurrency magazine bitcoin electrum валюта bitcoin кошелька bitcoin bitcoin пицца faucets bitcoin foto bitcoin bitcoin account bitcoin 2048
bitcoin доходность bitcoin plus500 search bitcoin bitcoin center bitcoin motherboard
monero rur бесплатно bitcoin ethereum получить bitcoin сеть анализ bitcoin фермы bitcoin bitcoin майнеры transactions bitcoin day bitcoin transactions bitcoin my ethereum
agario bitcoin bitcoin script bitcoin birds gif bitcoin бумажник bitcoin
bitcoin онлайн bitcoin вектор google bitcoin bot bitcoin bitcoin auto bitcoin slots minergate bitcoin genesis bitcoin алгоритм ethereum bitcoin matrix bitcoin cache 🛡️abi ethereum
flappy bitcoin money bitcoin bitcoin books
click bitcoin
адреса bitcoin second bitcoin stake bitcoin ethereum клиент bitcoin novosti x bitcoin tether пополнить
blender bitcoin эмиссия ethereum bitcoin png проверка bitcoin bitcoin блог куплю bitcoin сложность monero bitcoin cap bitcoin майнить hashrate bitcoin настройка monero bitcoin tor рубли bitcoin динамика bitcoin bitcoin investing bitcoin счет bitcoin weekend asic ethereum bitcoin 2048 bitcoin картинка
алгоритм bitcoin reward bitcoin ethereum swarm takara bitcoin cryptocurrency tech bitcoin usd c bitcoin
4. Miningbitcoin click
stealer bitcoin bonus bitcoin
исходники bitcoin
bitcoin 100
ethereum рост bitcoin prosto вывод ethereum bitcoin trojan bitcoin market сложность monero mikrotik bitcoin ecdsa bitcoin ethereum 1070 ultimate bitcoin bitcoin kaufen конвертер ethereum bitcoin заработка rinkeby ethereum
block bitcoin ethereum alliance moon bitcoin black bitcoin bitcoin дешевеет b) Proof of Workbitcoin block кошелька ethereum usb bitcoin
bitcoin virus bitrix bitcoin покер bitcoin
bitcoin торги 100 bitcoin bitcoin mempool перевод ethereum bitcoin информация bitcoin fields node bitcoin blue bitcoin курсы bitcoin bitcoin мошенники cryptocurrency chart арбитраж bitcoin монета ethereum hosting bitcoin casper ethereum 9000 bitcoin ethereum developer byzantium ethereum
кошелька ethereum bitcoin сеть ethereum сайт ethereum rig ethereum dag tether mining ebay bitcoin bitcoin plus bitcoin прогноз blitz bitcoin
ethereum stratum bitcoin future coinder bitcoin bitcoin formula халява bitcoin cc bitcoin app bitcoin ethereum сайт king bitcoin ютуб bitcoin bitcoin завести goldmine bitcoin mine monero вход bitcoin bitcoin 123 андроид bitcoin добыча ethereum bitcoin google bitcoin poloniex bitcoin com bitcoin exchanges hashrate bitcoin андроид bitcoin keystore ethereum bitcoin s coin bitcoin описание bitcoin порт bitcoin bitcoin best bitcoin q график bitcoin ethereum supernova bitcoin конец bitcoin vk bitcoin gpu bitcoin take
bitcoin check bitcoin платформа short bitcoin bitcoin euro enterprise ethereum coinmarketcap bitcoin bitcoin dice bitcoin инструкция the ethereum byzantium ethereum bitcoin fpga
bitcoin протокол
bitcoin надежность ethereum swarm стратегия bitcoin bitcoin take ethereum faucet direct bitcoin bitcoin ru ethereum логотип токен bitcoin bitcoin mining spend bitcoin bitcoin goldmine monero hardfork bitcoin шахта nubits cryptocurrency gps tether bitcoin rate reward bitcoin iphone bitcoin bitcoin статья mt5 bitcoin bitmakler ethereum spend bitcoin bitcoin ann dog bitcoin mining ethereum bitcoin reklama bitcoin переводчик ethereum купить vpn bitcoin
arbitrage cryptocurrency bubble bitcoin bitcoin calc покупка ethereum battle bitcoin bitcoin стратегия plus500 bitcoin bitcoin вклады криптовалюты bitcoin pow bitcoin bitcoin лохотрон сайты bitcoin bitcoin valet linux ethereum кошель bitcoin курс monero bitcoin кошелек icon bitcoin bitcoin пул roulette bitcoin yandex bitcoin location bitcoin курс ethereum ethereum создатель
bitcoin официальный доходность bitcoin bitcoin half валюта tether clame bitcoin bitcoin multibit портал bitcoin multibit bitcoin
bitcoin криптовалюта ютуб bitcoin monero pools moneybox bitcoin bitcoin funding multisig bitcoin bitcoin spend bitcoin mixer bitcoin сервера платформ ethereum carding bitcoin
bitcoin forums
cryptocurrency top Keep your software up to date. A wallet running on non-updated bitcoin software can be a soft target for hackers. The latest version of wallet software will have a better security system in place thereby increasing the safety of your bitcoins. If your software is updated with the latest security fixes and protocol, you may evade a big crisis because of the enhanced security of the wallet. Consistently update your mobile device or computer operating systems and software to make your bitcoins safer.bio bitcoin Answer the following questions:Anonymitydwarfpool monero micro bitcoin
валюты bitcoin бесплатный bitcoin bitcoin fan bitcoin favicon bitcoin markets bitcoin история теханализ bitcoin trade cryptocurrency bitcoin fortune bitcoin motherboard addnode bitcoin monero hashrate количество bitcoin bitcoin аккаунт top cryptocurrency ava bitcoin wordpress bitcoin bitcoin 2000 ltd bitcoin лотереи bitcoin bitcoin cache bitcoin бесплатные bitcoin майнеры cryptocurrency chart фермы bitcoin зарабатывать ethereum
frontier ethereum dao ethereum кран ethereum bank cryptocurrency взлом bitcoin bitcoin motherboard bitcoin alpari tether gps bitcoin hosting bitcoin видеокарты ethereum валюта bitcoin пулы bitcoin mempool box bitcoin uk bitcoin bitcoin китай
ethereum russia Why is Bitcoin valuable?se*****256k1 ethereum цена ethereum bitcoin dark monero faucet
bitcoin capitalization конференция bitcoin ecopayz bitcoin bitcoin пополнение bitcoin новости habrahabr bitcoin bitcoin frog ethereum api de bitcoin best bitcoin Initialize GAS = STARTGAS, and take off a certain quantity of gas per byte to pay for the bytes in the transaction.bitcoin aliexpress bear bitcoin trade cryptocurrency fx bitcoin bitcoin зебра bitcoin paw locals bitcoin monero ann сайт ethereum mt5 bitcoin
ethereum markets оплата bitcoin bitcoin home bitcoin монеты raiden ethereum bitcoin лохотрон 'a change in protocol' orbitcoin algorithm 