Is Bitcoin Mining worth it? In order to make real profits when mining Bitcoin you need to buy a much larger rig, since the price per hashrate drops the larger the rig is.
Mining is important because it confirms transactions and secures the blockchain.
Is Bitcoin Mining Worth It In 2018?
Mining bitcoins has been a very profitable venture for a very long time. Bitcoin uses the Hashcash proof of work. Performance is much higher than announced.
In the case of hardware miners, you can work out the monthly running cost by multiplying your electricity charge ie: This problem can be simplified for explanation purposes: This article should not be viewed as an endorsement of any of the services bitcoin.
How to determine profitability We have previously covered ways to mining mining profitability. Of course, for anyone involved with mining mining, Please do your own research before forum investing any funds via forum services. The cost of electricity far exceeds 1 cent per day when mining Bitcoin with a GPU. The most popular Bitcoin cloud mining site is Genesis Mining..