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How do i start mining bitcoins

how do i start mining bitcoins

every 210,000 blocks (about four years). Watch our video version of this guide. However, considering the miner costs between 15, it would still take you at least 7 to 10 years at that rate to start turning a profit. Some early asic miners even appeared in the form of a USB, but they became obsolete rather quickly. For more information about web mining, you can read this post. 7, some cloud-mining services may do regular payouts on an established schedule, such as once a month or once a quarter. Question How do I find out how many bitcoins I can mine in a month? Additionally, you get paid any transaction fees that were attached to the transactions you inserted into the next block. Remember, mining is possible with any old computerits just not worth the electricity wasted on it because the slower the computer, the smaller the chances are of actually getting some kind of reward.

Getting started with, bitcoin mining, how, to, start, bitcoin, mining

how do i start mining bitcoins

Its not possible to mine profitably with a PC or a GPU at home. However, keep in mind it may take up to an hour for your mining pool to display your miner's hashing rate. If you dont have a few thousand dollars to spare on the right miner, and if you dont have access to cheap electricity, mining Bitcoin might not be for you. In the long run, this will even out to ten minutes on average. If you don't have the money to invest in a mining rig, you would be better served to attempt a cloud-mining service. Basically, youll make a more consistent amount of Bitcoins and will be more likely to receive a return on your investment. Thats why mining pools came into existence. You don't need to pay anything up front to join a mining pool. Today, in order to be profitable with Bitcoin mining you need to invest heavily in equipment, cooling and storage. For larger contracts, it may take you several years. If you are planning to convert your mined bitcoins to any other currency in the future, this variable will have a significant impact on profitability.