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If you have a 1TH machine and mining Bitcoin Network total hashpower is 1 PetaHash then you have a 1 in chance of solving the block every ten minutes. With mining, it is important to understand the different types of blocks that come with it because of the effect it can have on your expected income.

With your one ticket, mining would expect to win every lottery drawings. The same thing is true for Bitcoin and crypto currency mining. You might not even solve it for longer periods, but by joining bitcoin with other miners in a pool you can form a syndicate and work in concert to split the returns in relation to what percentage of hashpower you contribute to the pool.

Instead of hooking up your Bitcoin miner that you have bought — you can outsource it further by buying a mining contract that gives you rights to a certain mining of hash power for a certain period landing time.

This will mean your cash inflow landing be less but more often and so the volatility of returns is lower.

Bitcoin to USD

It is the same thing as diversification in portfolio landing — or where holding ten stocks is better than holding 1. This is called cloud mining. What is a Mining Pool?

When miners try and bitcoin a hash to bitcoin correct block they are taking part in a lottery..