Among the many ways to make money online, another one has recently become very popular - earnings on computer resources, that is, the user receives money for using the power of his iron. Let's see how realistic it is and how much you can earn.
What is earning on computer resources?
If your computer has a powerful video card, or even two or three, you can make money with their help. Let's try to describe how to make money in simple words.
The process of making money on computer resources is the production of some calculations by a video card, and is called mining. The results of the calculations subsequently create a virtual currency - bitcoin (BTC), which can be exchanged for any currency in the world and instantly withdrawn to your credit card.
Also, with the help of bitcoins, you can pay for the purchase of goods and services, mobile communications, and you can also invest in them, since the bitcoin rate in the world market is constantly growing and at the time of this writing is $ 673 per bitcoin. You will not earn whole bitcoins, but parts of it - centobitcoins (0.01 BTC), millibitcoins (0.001 BTC) and microbitcoins (0.000 001 BTC).
What video card is needed to make money
To make money, AMD Radeon video cards from the 5XXX series are suitable. Using NVidia is unproductive today, and work with integrated video cards is no longer supported.
How much can you earn
It all depends on the technical indicators of your video card, how many blocks (tasks) it can process per unit of time, and on the current complexity of tasks. Processing speed is measured in MHash / s (MegaHash / sec). To calculate the amount of earnings, you can use a special calculator where all current data are taken into account. You need to enter the speed of your video card, as well as select the currency of calculation.
For example, when the video card Radeon HD 7970 is 925 MHz (230 W), which processes 555 Mhash / s, you can earn up to 0.00031 BTC per day, which at the current exchange rate is 20 cents daily.
Accordingly, if there are several video cards, then earnings will increase in proportion to their number.
Many people invest in the creation of so-called "farms" - this is the name of a motherboard, on which several powerful video cards are installed. Or they even buy a computer specially tuned for bitcoin generation.
How to start earning bitcoins
Let's consider the main steps of the actions that need to be performed in order to start the generation of bitcoins on your computer.
Must download from here the client program "Bitcoin-Wallet" for your version of the operating system and install it on your computer. The installation is very simple. When you run the program for the first time, you need to wait until the blocks are downloaded, which can take a long time ( about 24 hours), since a fairly large amount of data will be loaded.
Setting up a Bitcoin wallet. In the Bitcoin wallet, select the "Receive" tab, then click the "Create address" button in the lower left corner. You can create a label for this address, and for each service from which you want to receive funds, you can create a separate address, which is very convenient.
Pool entry. You can generate Bitcoins alone, but this will require huge technical resources and a lot of time (from several months to a year or more).
To be guaranteed to earn money, you need to join the pool - a community resource that unites those who want to engage in mining. There are many pools, one of the largest is 50btc.com. This pool is simple, convenient and reliable; it supports payments in several popular payment systems.
Enter your e-mail and password twice in the corresponding fields.
After that, open the "Payouts" menu and add your address from the Bitcoin wallet in the "Your Bitcoin addresses" tab. To do this, click "+ Add" and enter a value in the "Bitcoin address" field.
Miner software download... For example, a program will do. After downloading, unpack the contents of the archive into any folder, for example, D: \ miners \ 50miner.
Launching the program. Open the 50Miner file and enter the worker's e-mail (the one we indicated when registering the wallet) in the field. You do not need to enter a password. Then click on "Only mining".
The miner himself will determine the video cards and OpenCL platforms that are on the computer. If the required OpenCL platform is not found, the program will display a link to download it. The settings are performed automatically and are selected by the program in optimal values.
Choosing a withdrawal method... You can choose Yandex.Money, Webmoney, QIWI, mobile phone, as well as a VISA card.
After a while on the site 50btc.com you can see that the worker is already working. The "Balance" tab in the upper right corner will show the growing result of the work - the increasing balance.
Mining prospects
It is difficult to say how promising this type of earnings is. With an increase in the number of participants, the complexity of the calculations increases; accordingly, solutions are found after a longer period of time. Thus, less bitcoins are generated, which means that earnings will become less and less.
Alternative to video cards for mining
At the beginning of 2013, video cards for mining were replaced by special Bitcoin Asic Miner installations for generating bitcoins, the computation speed of which is tens of MegaHesh / sec. That is, the power of this machine exceeds the power of hundreds of video cards. Basically, today the computing power of the Bitcoin network lies on these aggregates.
The cost of this machine, depending on the number of chips, ranges from 10 to 16 thousand dollars. And if previously Asic's profitability was $ 400 per day, today this value hardly reaches $ 30. As computational complexity grows, profitability will fall inexorably. Thus, an investment in equipment will pay off with a stable income of $ 30 (and it will not be stable) only after 29 years. Therefore, spending money on the purchase of Bitcoin Asic Miner today is impractical.
In 2014, it is planned to release a new generation of mining equipment, the processing speed of which will be several times higher than the current indicators. However, the fate of these devices is the same as that of previous generations - only those who buy immediately will benefit, since the complexity of calculations increases with the increase in power. And sooner or later it will reach such a value that even the most powerful equipment will look for a solution to the problem for an extremely long time.
Is it profitable to speculate in bitcoins?
Today's rise in the bitcoin rate is largely due to the high demand for Bitcoin Asic Miner. Why? The fact is that basically these machines are sold for these same bitcoins, which people buy for real money in the hope of a quick return on their investment. That is, the “bubble” inflated in this way cannot grow forever, and when the profitability from buying Asic falls, the demand for them will collapse, along with the demand for bitcoins.
While the system is growing, it is quite possible to engage in speculative operations - buy and sell bitcoins, making money on the exchange rate difference. However, looking back at the history of changes in the value of bitcoins over the past two years, when the bitcoin rate against world currencies rose several times and fell in price dozens of times, such manipulations can be attributed to operations with very high risks. And the decision about whether to take such risks or not, everyone is free to make for himself.
The Internet allows every modern person to keep up with the times, including making money anywhere and at any time. The Internet opens up new horizons for people and makes it possible to develop in a wide variety of directions. On the other hand, the Internet is the natural habitat of bitcoins - digital coins that do not have a physical shell and function on the network.
Today, many people are interested in the topic of making money on bitcoins. Bitcoins can be obtained without investment - for example, by viewing ads on specialized sites. Of course, these are tiny amounts, unless you have to put in some serious effort to get them. And if you are serious about making money on cryptocurrency. we will tell you about other ways to get digital tokens.
What are bitcoins and what is the secret of making money online when using this cryptocurrency?
Bitcoin(from the English bit - the unit of information "bit", and the English coin, which means "coin") is a new, rapidly gaining popularity digital coin, which appeared in 2009.
The founder of this innovative cryptocurrency was Satoshi Nakamoto, and already in the first years of the existence of the Bitcoin network, its development posed a serious challenge to the entire global economy. It is worth noting that bitcoins are growing in price, and they can easily be exchanged for regular (fiat) money at the current exchange rate.
In 2009, the rate of 1 bitcoin was $ 0.00076, now it has grown millions of times. The process of currency exchange is quite simple, and you can do it at any exchange office. And now closer to earning bitcoins.
If you want to get a complete picture of cryptocurrencies and earnings on them in 40 minutes, download the free book "25 strategies for investing in cryptocurrencies."
What are bitcoins - video
How to quickly earn bitcoins without investments
There are a huge number of different services on the Internet (so-called cryptocurrency faucets) that allow you to earn bitcoins without investments when you enter a captcha (a unique digital or letter set that is displayed along with ads), when you watch ads or perform other simple actions. Earning bitcoins without investments attracts thousands of modern people who want to get digital tokens and not spend a single ruble. But you need to make a reservation that you will not be able to earn a whole bitcoin on cryptocurrency faucets. It's about earning satoshi - a tiny fraction of bitcoin (1 satoshi = 0, 000000001 btc).
First, you need to create your own wallet in the bitcoin system. This is done very simply, conveniently and quickly: there are many resources offering free online wallets. Then you need to register on one of the many MTC earning services.
Today, some of the most popular services for earning bitcoins are:
- Freebitco.in
- Freedoge.co.in
- bitvisior.com
- landofbitco.com
- greenbitco.in
This is not a complete list of taps for earning satoshi - there are quite a few of them, and new resources appear regularly. In addition, lotteries, promotions and draws are held on many taps to increase the amount of satoshi received. But do not flatter yourself: you will not be able to earn more than 100 rubles a day (in terms of fiat money) with the help of taps.
How to earn bitcoin using cloud mining?
If you are interested in serious earnings, then first of all it is mining, or bitcoin mining. To get bitcoins, you need to perform complex calculations using special devices (video cards or ASICs) and receive blocks, and bitcoins will be paid to the miner as a reward. You can do this yourself if you equip a mining farm (for example, at home). Also, miners unite into communities (pools). There is another mining method that does not take your time, but requires certain investments - cloud mining.
To make money on cloud mining, you need to register on one of the special services, such as eobot.com, which will not take much of your time and effort. It is pleasantly pleasing that after registration you do not have to download a bunch of different applications or other files. In fact, the user leases production facilities for mining and in return receives a specified share of the profit of this service.
At the initial stage, a certain amount will be required from you, which may be quite small - about 0, 0005 BTC. The user enters into a contract (usually for a year) and in a year he should make a profit. After that, he can renew the contract or withdraw his investments. But it is important to carefully read the terms of the agreement - after all, the complexity of mining new blocks (and, accordingly, bitcoins) increases every year. In addition, the operation of the mining farm consumes a large amount of electricity, which also has to be paid. Therefore, you need to carefully consider the possible profit, taking into account all possible costs.
Other ways to make money on the Internet
Mining, or how to make Bitcoin - video
We also suggest that you read the article on how to become a guru in the fashionable niche of making money on.
By earning bitcoins now, you are investing in your future!
The only way to issue bitcoin (btc) cryptocurrency is bitcoin mining, which is the creation of new blocks by performing a certain mathematical task using a specialized program installed on a computer. There are several ways to mine the demanded digital currency, each of which has its own advantages and disadvantages.
What is mining
The process of creating virtual coins got its name due to the labor intensity comparable to mining. The essence of mining is to perform calculations of mathematical problems in order to pick up some value. The purpose of such operations is to obtain a hash - a bit string of fixed length. After the code is decrypted, another block of bitcoins appears, including a cryptographic signature. This signature is generated based on the hashes of the previous blocks.
A sequence of bitcoin blocks appearing one after another form a blockchain. The selection of the digits that form the basis of the hash is carried out automatically. Bitcoin mining involves a reward in the form of btc coins, which go to the first miner who guesses the hash. The number of virtual rewards is halved every four years. At the time the system was launched in 2009, miners could count on 50 btc for the decrypted hash, now the reward is already 12.5 bitcoins.
Basic principles
The Bitcoin mining process must follow certain principles in order to maintain the validity of the cryptocurrency and the security of the network. The main mining principles are:
- the complexity of creating a currency;
- set average time for calculating one block;
- lack of a single intake center;
- automatic increase in the difficulty level as the number of miners grows;
- the amount of remuneration is established by the system and provides for a gradual decrease;
- obligatory confirmation by miners of the transaction between the participants of the bitcoin network by including it in the block;
- autonomous self-regulation of the network.
The difficulty of mining cryptocurrency
Due to the constant increase in the number of miners of electronic coins and the steady growth of computing power, a mechanism is needed to compensate for this growth. As such a mechanism, the parameter complexity was provided, on which the amount of mined cryptocurrency per unit of time depends. The technical side of the concept of "computational complexity" is described as the number of attempts required to generate a hash.
Mining types
Earning bitcoins can be done in several ways, which involve the use of specialized devices or payment for renting someone else's facilities. There are also shareware types of mining. The methods differ from each other in the size of the required investments and the expected income from production. The most popular types of bitcoin mining are:
- using a personal computer or laptop;
- using GPU;
- using FPGA modules and ASIC chips;
- creation of mining farms;
- cloud mining;
- bitcoin faucets, bitcoin games.
Mining bitcoins on your home computer
Mining cryptocurrencies with a video card
The time when it was profitable to mine bitcoins using a conventional video card has already passed, since the mining process has become much more complicated and more power is required to carry out calculations. With the rise in interest in bitcoin due to the increase in its value, manufacturers of graphics accelerators and processors began to develop powerful video cards.
Mining farms
A large number of computers involved in the mining process are the so-called bitcoin mining farms. The principle of their work is the continuous execution of calculations. Hashes are generated using:
- A large number of video cards are the most energy-consuming type of farms.
- FPGA modules are economical in terms of power consumption.
- ASIC processors - the asic device (specialized processors) is the most expensive, but at the same time its speed is maximum.
Cloud mining without investment
The principle of obtaining bitcoins using cloud mining is identical to the usual mining of electronic coins, except that they do not use their own power, but third-party leased ones. The amount of cryptocurrency mined depends on the rent charged. There are also free services offering their equipment for mining.
How to start mining
In order to start mining the first coins, first of all, it is worth deciding on the mining method. The size of the initial investment will depend on the method chosen. The general step-by-step algorithm for how to mine bitcoins looks like this:
- Purchase the necessary equipment.
- Install the selected program for mining bitcoins on your computer.
- Select a pool site.
- Register a wallet to withdraw the reward.
- Launch the software.
What are pools
To increase the chances of getting btc coins, specialized web services (pools) provide miners with their services, which are to use maximum parallelization of computations. This method of mining provides for the pool members to search for their own solutions without linking them with the decisions of others. Miners provide their computing power to the pool, and the pool for finding the block acts as a solo miner. When choosing a pool, you need to know the rules for distributing rewards and the capacity of the pool.
Cryptocurrency mining software
You should start mining bitcoins by installing the software. Mining programs are divided into two types: for processors and for video cards. The choice of software must be based on the parameters of the existing equipment. The most popular programs among users are presented below:
- name: Bitminter;
- characteristic: the application, which is also a pool, runs on video cards, there is support for ASIC, is compatible with all operating systems;
- pros: suitable for both beginners and experienced miners, ease of installation;
- cons: no
- earning opportunities: the value of coins mined in 24 hours is equivalent to $ 0.5.
Console client that is easy to use for both beginners and professional miners:
- name: BFGMiner;
- feature: console client supporting video cards and FPGA devices, scrypt, RPC support;
- pluses: easy setup of pools, the ability to control the cooling elements of the computer;
- cons: high requirements for equipment;
- earning opportunities: an experienced miner receives 18 thousand satoshi per day.
For users who have knowledge of the MS Dos operating system, who have equipment with a powerful processor and video card, the DiabloMiner program is suitable:
- name: DiabloMiner;
- characteristic: support for such operating systems as Windows, Linux, Mac, installation of video cards of different series is provided;
- pluses: ease of configuring pool parameters;
- cons: not suitable for beginner miners;
- earning opportunities: on a powerful computer, you can get a reward of 20 thousand satoshi per day.
A console client that easily adapts to user requirements is the Ufasoft Miner program:
- name: Ufasoft Miner;
- characteristic: it is possible to change the pool address, suitable for the extraction of cryptocurrencies such as bitcoin, ether, litecoin;
- pluses: several modes of operation, depending on the level of the user;
- cons: requires a lot of RAM;
- Earning Opportunities: Experienced miners receive remuneration of 18,000 Satoshi.
The CGminer program is more suitable for users with extensive experience in the MS Dos system:
- name: CGminer;
- characteristic: assumes installation on powerful processors, when overclocking a video card, it increases MH / s to a maximum;
- pluses: there is a possibility of reprogramming, easily configurable;
- cons: not suitable for beginners;
- earning opportunities: from 18 thousand satoshi per day.
50 Miner is a graphical frontend for several of the most popular miners such as Cgminer, Phoenix, Diablo, Poclbm:
- title: 50 Miner;
- characteristic: it is possible to use it without installation, while all settings are saved in the configuration file;
- pluses: ease of authorization, compactness;
- cons: instability of work, a lot of RAM is required;
- earning opportunities: under the minimum initial conditions, you can earn 15 thousand satoshi per day.
Is bitcoin mining profitable at home?
To understand whether it is profitable to mine bitcoins at home, you should calculate the size of the required investments and predict how quickly they will pay off. Considering that since the emergence of the process, which today is called mining, the situation on the cryptocurrency market has changed significantly, it is worth knowing the main factors affecting the economic feasibility of mining now:
- The complexity of mining contributes to the constant growth of equipment capacity, which affects its cost. At home, it is difficult to maintain a competitive level of mining speed.
- The growth of the btc rate in relation to official currencies attracts new members to the network. If the bitcoin rate falls, the profit from their sale may not cover the invested funds.
How much can you earn from mining
Bitcoin mining has the goal of making a profit, so before you start mining cryptocurrency and wait for the computer to make money on its own, without your participation, you should find out what level of earnings you can expect. There is no definite answer to this question, because the amount of income depends on many factors, such as:
- fluctuations in the bitcoin rate;
- the relevance of the selected mining method;
- equipment purchase costs;
- the number of miners in the network;
- the cost of electricity.
You can calculate the approximate profit from mining using specialized calculators (for example, on the Russian information site btcsec), taking into account the set of parameters entered by the user. However, even in this case, it should be borne in mind that if the bitcoin rate changes on the cryptocurrency exchange, the calculation results will be irrelevant.
Bitcoin mining costs
In order for Bitcoin mining to be profitable, the income from it must cover all the costs associated with mining. The economic component of expenses includes the costs of:
- purchase of special equipment;
- payment of bills for consumed electricity;
- repair and adjustment of capacities;
- payment of capacity rent.
Special equipment
The future bitcoin miner should take into account that in order to make a profit, it is necessary to have competitive equipment. Given the technological race driven by high demand, the cost of specialized equipment has increased significantly. In addition to the main elements (video card, chip, module), you will need software to monitor the temperature of the equipment and a cooling system.
Electricity costs
Bitcoin mining involves the operation of equipment for a long time, which leads to a large consumption of electricity. The higher the processor and graphics card power, the more impressive your electricity bills will be. In addition, the need to use cooling elements also leads to an increase in power consumption.
Depreciation of home PC power
If you plan to mine bitcoin on home computers, you should take into account the fact that the load on the main elements of the machine will increase. Constant overheating of the processor and video card leads to a deterioration in their performance, and faster failure. The miner will often have to repair his computer and buy new parts, which will lead to additional costs, and downtime will negatively affect the profit made.
Pros and cons of mining
Before mining bitcoins, you should familiarize yourself with the positive and negative aspects that you will encounter in the mining process. The pluses of Bitcoin mining include:
- Stable passive income. Bitcoins are mined without your participation. By installing a special program, you can go about your business.
- For btc mining, an investment is not necessary. If you do not want to risk investing your money, there are free mining methods, but in this case you cannot count on big profits.
- The mined bitcoins can be easily withdrawn from the system (sell, exchange, pay for purchases).
Miners who are mining virtual coins note the following disadvantages of bitcoin mining:
- Equipment failure. Using a home computer for mining leads to a rapid heating of the video card.
- High power consumption. Increasing the level of mining difficulty requires an increase in the mining speed, which became possible with the advent of new technologies. Powerful devices are energy-intensive, so bitcoin miners have to pay large bills for consumed electricity.
- High risk. Investing money and time in bitcoin mining is a high-risk investment, due to the fact that the price of the cryptocurrency is unstable, and at any moment the bitcoin exchange rate may fall.
Video
Alexey Russkikh
The world of finance is changing. And these changes are taking place before our eyes. Our generation can be called the pioneers of cryptocurrencies. There is no doubt that blockchain will change our lives. We will be surprised how it was possible to transfer money without the blockchain, just as we were surprised that we could make an appointment without a mobile phone. The article is devoted to how bitcoin changed the way we think about making money on the Internet. Below is a description of the ways how and where to earn bitcoins.
How to make money using a computer
Mining bitcoins on a computer (meaning any computer: home, office, gaming) boils down to one simple formulation: the probability of creating a block tends to an infinitesimal value close to 0. To understand why this is so, consider an example in numbers.
Let's say you have a gaming computer with the following computational characteristics:
- CPU Core i7 2600 (4-core processor, 3400 MHz);
- GPU NVIDIA GeForce GTX 1080 Ti (core / memory frequency: 1480/11010 MHz).
Let's calculate how long it will take such a computer to create 1 block:
So that you do not get confused in the numbers, we have painted all the indicators in the table:
| Index | Meaning | Exponential expression |
|---|---|---|
| Time required for a computer to find the correct hash of 1 block, years | 438 264 | 4.38E + 05 |
| Current Bitcoin Mining Difficulty (Nov 2017) | 1 364 422 081 125 | 1.36E + 12 |
| The number of hashes for brute-forcing nonce at complexity 1, hash | 4 294 967 296 | 4.29E + 09 |
| The number of hashes to select a nonce at the current complexity, hash | 5 860 148 216 372 130 000 000 | 5.86E + 21 |
| Computer hashrate (CPU Core i7 2600 + GPU NVIDIA GeForce GTX 1080 Ti), hash | 424 000 000 | 4.24E + 08 |
Each new block is created on average in 10 minutes. That is, the reality is that miners are competing to find the hash over a time interval of some 600 seconds. This is a battle of machines with fantastic computing power that exceeds the power of the world's most powerful supercomputer by hundreds of thousands of times:
- the hashrate of the bitcoin network is 5,600 PetaHash / s (November 2017);
- this value is equivalent to performance of 80 704 290 PetaFLOPS (data from bitcoincharts.com);
- the world's most powerful supercomputer, Sunway TaihuLight, has a peak performance of 125 PetaFLOPS (Wikipedia);
- 80 704 290/125 = 645 634, that is, the speed of the bitcoin network is equivalent to the power of more than 645 thousand supercomputers.
In this epic battle of supergiants, even the most powerful gaming computer will look like only a grain of sand in the desert.
It should be noted that theoretically you still have a chance to pick up the nonce value before other miners, it is equal to the ratio of your computer's hashrate to the total number of options to brute force the nonce value:
- computer hashrate 4.24e8 hash / s;
- the number of hashes to brute-force nonce at the current complexity = 5.86e21 hash;
- the probability of determining the correct hash on the first try is 4.24e8 / 5.86e21 = 7e-14.
The chance to go through the wall is 1e-11. We know this thanks to David Copperfield - the only person in the world among 100 billion people who have ever inhabited the planet who managed to do this. However, even he is unlikely to be able to "mine" the block. Better to try your luck in the lottery, because the probability of winning there is only 1e-8. Earning bitcoins using a computer in the classical sense of this phrase is not the best idea. Our advice is to look for another way. And we have a story to tell you. Read on.
Earning money with a mining farm
With mining on a computer, everything became clear. Let's take a look at the farms. Obviously, we are interested in a home farm with a set of devices that will extract electronic money in solo mode, that is, not in some pool, but independently, relying only on its own computing power. What equipment should be installed on this farm?
According to btc.com, a total of 55,474 blocks were found over the past year from November 2016 to November 2017. The reward for these blocks was shared by 33 mining pools.
Among them is the BitMinter pool with a hash rate of 30.67 PH / s, which "found" only 9 blocks, or 0.75 blocks per month. Thus, we can assume: in order to compete with pools for at least 0.75 block / month, a farm in solo mode must have a hash rate no less than that of BitMinter.
- hashrate of the BitMinter pool 30.67 PH / s = 30 670 TH / s;
- hashrate Bitmain ASIC Antminer S9 13.5 TH / s;
- 30 670 / 13.5 = 168.
Thus, a mining farm should consist of 168 ASICs. Let's calculate what investment you need to build such a farm:
- The cost of the Bitmain ASIC Antminer S9, according to the manufacturer's website, is $ 1415.
- The cost of 168 ASIC Antminer S9 will be $ 1415 x 168 = $ 237 720.
- Such a farm will require additional funds for heat dissipation, technical connection of power, laying of communications and other costs. To simplify calculations, a factor of 1.5 is applied.
- The final cost of the farm will be $ 237 720 x 1.5 ~ 366 thousand dollars, at the exchange rate as of 11/13/2017 ~ RUB 21 million
The farm, no doubt, pays off in less than a year, because 9 blocks with a reward of 12.5 BTC with an average annual bitcoin rate of $ 4500 will bring income of $ 506 thousand. Nevertheless, an investment of 366 thousand dollars is hardly available to everyone who wants to make money by mining the world's main cryptocurrency.
Of course, there are other mining hardware as well. A farm can be built from the same NVIDIA GeForce GTX 1080 Ti gaming graphics cards. However, at a cost that is 1.5 times cheaper (~ $ 1000), its hash rate is several tens of thousands of times inferior to that in ASIK. In addition, ASICs are more energy efficient mining devices than video cards.
A mining farm is a profitable way to earn bitcoins, however, it requires significant investments to create it. There is a way in which several high-speed mining devices are enough to qualify for a part of the paid reward for the blocks found - participation in mining pools.
How to make money on mining in a pool
As stated in the previous chapter, there are not many Bitcoin mining pools. On the btc.com website, you can find a description of each of them.
Top 10 pools in the last month:
Let's say you purchased 1 ASIC Antminer S9 with a hash rate of 13.5 TH / s. Let's calculate what amount of remuneration per month you could count on if you decided to transfer your capacity to one of these pools based on the following assumptions:
- The reward is calculated in proportion to the transmitted hash rate.
- It doesn't matter if the pool is open or closed.
- Block creation reward = 12.5 BTC.
- For simplicity, changes in mining difficulty, pool commissions, and electricity costs are not taken into account.
- The average bitcoin rate for the last month is ~ $ 6100.
Calculating monthly mining income using ASIC Antminer S9 with a hash rate of 13.5 TH / s:
| Pool name | Hashrate, TH / s | Block mining | General reward, BTC | Reward share, BTC (13.5 TH / s) | Reward share, $ (13.5 TH / s) | Share of the award, rub. (13.5 TH / s) |
|
|---|---|---|---|---|---|---|---|
| NETWORK | 5 599 870 | ||||||
| 1 | AntPool | 991 737 | 775 | 9 688 | 0.1319 | 804 | 46 656 |
| 2 | BTC.TOP | 753 743 | 589 | 7 363 | 0.1319 | 804 | 46 655 |
| 3 | BTC.com | 689 904 | 539 | 6 738 | 0.1318 | 804 | 46 645 |
| 4 | ViaBTC | 615 426 | 481 | 6 013 | 0.1319 | 805 | 46 663 |
| 5 | SlushPool | 444 070 | 347 | 4 338 | 0.1319 | 804 | 46 653 |
| 6 | F2Pool | 442 950 | 346 | 4 325 | 0.1318 | 804 | 46 636 |
| 7 | BTCC | 382 471 | 299 | 3 738 | 0.1319 | 805 | 46 674 |
| 8 | BitFury | 218 955 | 171 | 2 138 | 0.1318 | 804 | 46 628 |
| 9 | Bixin | 211 115 | 165 | 2 063 | 0.1319 | 805 | 46 662 |
| 10 | BitClub | 194 316 | 152 | 1 900 | 0.1320 | 805 | 46 702 |
With this approach, the average monthly earnings is about 0.1318 BTC or 46.5 thousand rubles. at the rate of 11/13/2017. In practice, the numbers differ significantly. So, for example, the AntPool mining calculator, taking into account the 1.5% commission, calculates only 0.0735 BTC / month. or 26 thousand rubles
ViaBTC calculates only the daily “profit” of 0.0031 BTC. Per month is 0.0933 BTC or 33 thousand rubles. at the rate of 11/13/2017.
In addition to exchange platforms, cryptocurrency can be purchased on P2P exchanges. P2P stands for person-to-person. An example of such an exchange is LocalBitcoins. Such exchanges allow you to quickly and directly find a buyer / seller of bitcoins. In this case, the transaction price will be significantly higher than the exchange price.
The next way to get bitcoins is for those who like to earn money without investing.
Bitcoin faucets
We've proven to be a waste of time. Briefly about Bitcoin faucets:
- You register on the site (crane).
- You watch ads / enter captcha / make a lot of clicks.
- You are charged Satoshi (bitcoin pennies) for this.
For 8 hours of daily work per month, you will earn 4000 rubles. We do not recommend wasting your time on this nonsense.
ICO as a way to make money
It is gaining more and more popularity and investing in ICOs is becoming more and more dangerous. The term ICO stands for Initial coin offering. By analogy with an IPO - an initial public offering.
What is ICO for?
One example. You have an idea to create a "user-friendly mobile application". You need money to develop it. You have several options for how to attract money to the project:
- Take a loan.
- Find an investor.
- Raise money from a kickstarter.
- Raise money with ICO.
How it works:
- On the basis of one of the cryptocurrencies, you create tokens. Now the Ethereum and Waves platforms are becoming more and more popular for these purposes.
- You launch a PR campaign, tell the general public about the “convenient mobile application”, announce the upcoming ICO.
- ICO start.
- Users, business representatives, investors buy your tokens at a certain price. Token is a kind of deferred right. For example, in case of a successful launch, token buyers will receive: users - a free lifetime subscription; business representatives - advertising in your application on more favorable terms; investors - income in the form of the difference between the purchase amount of tokens and the redemption cost (you buy tokens from investors at a higher price).
- Completion of ICO.
- You use the funds received to develop the application.
- After the successful launch of the "convenient mobile application", you fulfill your obligations to the buyers of your tokens.
This is one of many examples. There can be countless projects like a “convenient mobile application”.
"Advantages and disadvantages"
What are the advantages of ICO:
- Convenient and fast way to raise money.
- Tokens can be sold before the launch of the project (as opposed to, for example, kickstarter, which does not imply the exit from the project before the start).
- Like cryptocurrency, ICO is not yet regulated in any way in many countries, incl. RF, which greatly simplifies the formal procedures for raising funds.
- Transactions are made on a distributed consensus platform (blockchain).
Disadvantages of ICOs:
- ICO is on the hype right now. There are many projects, what is behind them is difficult to track.
- Projects attract more money than they can earn.
- Projects raise money and cease to exist.
As we have already said, the cryptocurrency market is still very “wild” and is just emerging. There are no rules. Before investing money in an ICO project, it needs to be thoroughly researched. The so-called "rating agencies" such as icorating.com can help with this. They evaluate projects according to the following indicators:
- HYPE-SCORE (hype level);
- RISK-SCORE (risk level);
- INVESTMENT POTENTIAL (investment potential);
- IN-DEPTH RATING (deep rating evaluating the project based on fundamental analysis).
ICO can be a very good tool for crowd investing in any field, be it finance, advertising or gaming. In turn, investors can make money on hype. After the ICO, tokens of cool projects are much more expensive.
Conclusion
Let's summarize:
- Mining on a computer is as successful as buying a lottery.
- A solo mining farm pays for itself in a year, but at the same time it should consist of 168 ASICs with a total hash rate of 30 670 TH / s.
- Better to buy 1 ASIC for $ 1415 and connect to some pool.
- You can also buy an annual contract on HashFlare for $ 2025 and earn 22 thousand rubles each. per month on cloud mining.
- You can form a portfolio of top cryptocurrencies and sit for a long time (the best way).
- Or invest in an ICO project.
- Bitcoin faucets are a waste of time.
How do you make money on Bitcoin? Write to us in the comments.
Hello friends. Surely there are many people among you who are interested in the topic of bitcoin. If you see a perspective in it, congratulations. We are on the same wave. If you are still far from cryptocurrencies, then today I will give arguments in favor of how great the potential is in this industry. Perhaps you will agree with me that cryptocurrencies provide good opportunities for earning money.
What is Bitcoin, you can see in this short video
I will not touch upon such low-income and low-skilled types of earnings on bitcoin as bitcoin faucets and the like. This is the maximum for a student to earn ice cream. I'm talking about more serious business and the opportunities that bitcoin offers.
Why is Bitcoin promising?
Bitcoin technology is based on the P2P principle, i.e. from person to person, which implies the absence of such a participant as a bank in the transaction. Transaction management and bitcoin issuance is carried out on the Internet. Bitcoin has no owner and no regulatory authority, anyone can use Bitcoin.
The outlook for bitcoin depends on the legislation of many countries. It is the attempts to pinch the turnover of bitcoins that are an obstacle to its further growth. But today, there are no global barriers to the evolution of the bitcoin cryptocurrency, which allows you to make good money.
The popularity of the query "bitcoin" in Google trend
Types of earnings on bitcoin:
1. Bitcoin mining
2. Trading on the rise and fall of the bitcoin rate
3. Arbitration of bitcoin between exchanges
4. Investing in Bitcoin
I already wrote above that there are more ways to make money on bitcoin than those that I listed above, but normal earnings are interesting, starting from three zeros, so I will not describe any bitcoin books as a way of earning and offer them as an option for making money on bitcoin.
I will go over each item briefly.
Bitcoin mining
This is the way I put it first. This is the direct mining of bitcoins, which is called mining. Mining is a way of getting bitcoin based on solving mathematical tasks by computers. The difficulty of mining bitcoin is constantly growing. For example, earlier bitcoins were mined by processors, after which they were replaced by video cards with support for OpenCL and CUDA technologies, which are much faster than x86-compatible processors.
I think that the very first miners who were mining bitcoins, and who did not sell them for a penny, but held them for at least a year or two, have already managed to get rich. Because in 2011-2012, the cost of one bitcoin did not exceed $ 20 one cue ball. And in 2013, on average, the cost of one bitcoin was a maximum of $ 139, and in November 2013 the cost of one bitcoin exceeded $ 1100 for one bitcoin.
True, then the cue ball rate rolled back, tk. in fact, the given value of the cue ball did not correspond to its real value. The bubble burst and the rate rolled back to the region of $ 400-500 per cue ball. But I think that you will agree with me that such a spike in the growth of the cue ball could have made you rich if you had a couple of tens or hundreds of bitcoins in the storehouse.
After the stage when bitcoins were mined with the help of video cards, the time came when the same tasks began to be performed by devices specially sharpened for these tasks, called ASICs, among the common people "ASIC". Whole bitcoin mining farms have appeared. For example, here is a report from one such bitcoin farm located in Hong Kong.
So, to the question of making money on mining. There are two options for making money by mining bitcoins: standard and cloud mining.
Standard - we buy equipment, mine cue ball. Cloud mining is the same, only we rent a remote server with equipment.
Difference: risk in both cases. Unless just when you physically have ASICs, then at least you can sell them. And in the case of cloud mining, the service itself tomorrow can order to live a long time and you will be left with nothing.
Trading on the rise and fall of the bitcoin rate
The easiest way. We register with some reliable exchange. For example, BTC-e (: the BTC-E exchange is now wex.nz), Kraken, BitStamp, Bitfinex, itBit, OKCoin. But the easiest place is in BTC-e, because it is Russian-speaking, with a large trading volume and a long working period.
After registration, we replenish the account in the exchange. There are many options here. For example, you can replenish your account in bitcoins, or through electronic payment systems (Perfect Money, ADVCash, etc.). When replenishing an account in cue ball, there is no commission for replenishment. When replenishing an account with electronic payment systems, a commission is charged. For example, Perfect Money is 3.5%, ADVCash is 3%.
For example, we have funded an account in US dollars. Then we decided on the pair that we will trade. The most popular is BTC / USD (bitcoin / dollar). We looked at the current exchange rate of the cue ball to the dollar
It is now $ 740.999 per bitcoin. Bought bitcoin. Now we are waiting for the bitcoin price to rise, for example, to $ 760 per bitcoin, after which we sell the bitcoins we bought at the new price, i.e. at 760, respectively, we put the entire difference between the purchase price and the sale price (excluding the exchange commission) in our pocket.
This is in its simplest form. I do not take into account the fact that you need to do a technical and fundamental analysis of the direction of price movement. In the case of bitcoin, so far everything is simple and predictable - globally, the value of bitcoin will grow. But again, there are some nuances here. Remember, above I said that the price of bitcoin in 2013 soared above $ 1100 per bitcoin? So, the point is that, in fact, nothing was provided for such a value. Therefore, the price both rose and she went nuts from such a scale =) Then it collapsed.
I mean this, that you can make money on the cryptocurrency trading exchange, of this type of BTC-e, either on the “buy and hold” principle, or on small movements: you bought, waited until the bitcoin price increased by 10-20 points, and then sold ... Then I waited for a slight pullback in the price, bought it, and again wait until it rises higher in order to sell. And so all the time. If it is very curtailed, then this is the principle of making money on the cue ball by buying and selling on the stock exchange.
I want to say that it is easier than Forex. Because on the cryptocurrency exchange, your position will not be closed by a stop out. If you have experienced Forex a little, you will understand what I mean. The task is simple - either buy bitcoin and wait for the price increase, or vice versa - sell and wait for the price decrease in the expectation of buying bitcoin at a lower price. In this regard, this method of making money on bitcoin is in high demand and popularity.
Bitcoin arbitrage between exchanges
The idea behind this method is as follows. There are several major exchanges where cryptocurrencies are traded. The difference in the cost of bitcoin on these exchanges is significantly different, you can see for yourself
The cue ball is bought on BTC-e for $ 739, and at the same time on OKCoin they are buying and selling for $ 752.
Now how to make money on this?
1. Register a bitcoin wallet (bitcoin.org)
2. We register accounts in large exchanges from among the ones presented above
3. We fill in equal parts of the money for each exchange. For example, $ 2000-4000 for each account
4. We see, for example, that on BTC-e they are now selling a cue ball at $ 739 per piece, and on OKCoin they buy at $ 752 per bitcoin
6. You can play at exchange rates and not through the exchange, but change directly through exchangers, which are searched through bestchange.ru, but the nuance here is that if you operate with considerable amounts of funds, then at one point in the exchanger that offers the most profitable the rate may not be sufficient for the exchange of the amount, and the commissions for the exchange will be incomparably higher. On the other hand, keeping money in your wallet is safer.
Underwater rocks:
1. The bitcoin rate is constantly changing, so while we are withdrawing purchased bitcoins from BTC-e and depositing on OKCoin (this is just an example of an exchange I give), the bitcoin price may change, so it is possible that while we are transferring money, we we may not earn anything at all. Therefore, the timing of the withdrawal and deposit of funds must be clarified on the exchange.
