Bitcoin mining.

Bitcoin · Feb 27, 2021, 10:26 am

Date Amount TXID.
We have listed the most frequently asked questions by our members.
1. What is this site?
It is a free mining site that offers free mining services using the best servers in the world.
2. Who is suitable for your services?
Everyone can use our service for free. There are no restrictions.
3. Do I have to make a deposit?
No. Our service is completely free. You do not need to make any investment.
4. Can I do mining every day?
Bitcoin-Values , you can do free mining every day.
5. Do you charge any fees for withdrawals?
6. Which crypto coins can you mining?
Only Bitcoin mining is done through our site.
7. When are payments made?
Payments are usually made instantly. It can take several hours according to the density.
8. Can I use more than one account?
Creating multiple accounts by a user is strictly prohibited. In such a case, all accounts are automatically suspended.
9. Does the project offer an affiliate program?
Yes, there's the program. You can earn 10% on every member you bring to the site.
10. What is the minimum amount to withdraw?
Anyone who reaches the amount of 0.35 Bitcoin can request payment.
11. Why is payment taking so long?
In addition to the short-term Bitcoin return, being a miner can give you sıra voting sıra power when changes to the Bitcoin protocol are recommended. In other words, a successful miner affects decision-making on issues such as bifurcation.
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Bitcoin · Feb 27, 2021, 10:27 am

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Mining Statistics.

Bitcoin · Feb 27, 2021, 10:27 am

Total Miners: 193,483 Online Miners: 6,869.
Free Bitcoin mining is the free mining platform you can do.
A complete web frontend for your Bitcoin mining devices.
Install.
You can download the image file for Raspberry ready to use as miner controller or choose for a manual install on your preferred Debian based system.
Just plug your devices in the controller and connect via your browser to your brand new Minera system. Easy, fast, and reliable mining.
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Still not sure? Check out why Minera is considered the best Bitcoin mining dashboard.
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It"s really simple, trust me, just plug your devices to your brand new Minera controller and start mine as fast as you can!
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Do you want to see each great feature it has? Look below.
Widgets.
The widgets in the top of the dashboard keep you always informed about your miner with a glance.
Detailed Tables.
The really detailed tables for devices and pools are useful to have everything under control.
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Who don"t love charts? We are full of them. History charts and graphical tree devices are cool.
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Never leave the Minera tab, just look at the top, you have your preferred currencies with current rates.
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With the temperature widget and the sysload graphical charts you know when your controller needs you.
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No more Putty or SSH, now you have a shiny web terminal connected directly to your system. Click and login.
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Yes, we have MobileMiner support too! Enable it and you could do everything from your smarphone.
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Select a guided configuration for your miner, easy to use with checkboxes and sliders to find your perfect setup.
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Adding pools is easy but you can also switch them on the fly, while miner is mining and you're drinking a beer.
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It's hard to find your miner isn't mining anymore with the autorestart option. Enabled it and relax.
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Miner went down unexpectedly? The autorecover option will try to recover it in one minute or less.
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A bit paranoid? Schedule a miner restart or a controller reboot and have sweet dreams.
If your download didn't start, please click below.
While you are waiting for the download to finish, please read about how to flash your SD Card with the new Minera image you got. After that you'll need only to put your SD Card in your Raspberry/ARM controller and you are done!
Flashing the SD Card with Minera.
If you are on Windows you can use Win32DiskImager.
If you are on a Mac OS X you can use ApplePi-Baker.
If you are on Linux you can use ImageWriter or the command line below.
Remember to uncompress the zip file before trying to flash it.
Prepare.
You can simply install Minera on your current Linux controller. Check if it's a debian based one otherwise download and install a right distribution like Ubuntu.
When you have your system ready, ssh into it and install Minera.
The installer will configure the system requirements and will tell you the URL to connect to.
Important : minera system user has password "minera", you should change it if your system is a public host with SSH access.
This isn't the web password, to change the web password, login into the web interface and go to Miner -> Settings.
Miner binaries.
The miner command binary path is:
They are pre-compiled for Raspberry (ARM) with the latest version available.
To ensure you have every libraries installed I strongly recommend you to recompile the miner you need, Minera has a utility script to do this, please look below.
Build miners.
Please follow the commands below to recompile/build your miner softwares (bfgminer, cpuminer, cgminer, cgminer-dmaxl):
Ready.
Now you are ready to mine with your brand new Minera controller, if you need help configuring it follow the link below.
Bitcoin mining dashboard.
In order to do transactions, bitcoin network requires the aggregation of the processing of computers. The operation in which the transactions are processed is called mining and the computers that perform the processing are called miners.
Start Mining Right Now With Your Own Device!
The condition of Bitcoin Network.
Bitcoin rate is constantly updated Also, the active hash rate in the network has a direct relation with the active miners in the network.
Bitcoin Price ($)
Network Hash Rate (EH)
588 M.
Total BTC transactions.
311 K.
BTC Transactions Per Day.
What Is Hash-Range?
the measure of processing power is hash per second.
the transactions of bitcoins are done through the processing of hashes. Depending on their power, the mining devices can process a definite number of hashes per second. For example, when the power of a device is 1 th/s, it can process 1,000,000,000,000 hashes per second. if the miner processes more hashes, it receives more commission.
10 th/s can mine 0.002 BTC per month or 0.05 BTC in 2 year period.
How to Trust?
Trustpilot, the most validated cryptocurrency evaluation system, provides the opportunity to share users' reviews without manipulation and is the most validated source to determine the genuineness of the product.
Economics of Bitcoin mining.
Tracing the source.
Just like your phone and your computer, the production of Bitcoins is driven by economics. This article aims to break down the various factors so you understand Bitcoin better.
Like many things you own, most of the bitcoin in your wallet was probably made in China.
In fact, more than half of the world's hashing power is concentrated in China, held by the biggest mining pools in the world, such as F2pool, Antpool, BTCC and BW.
Mining share on 5 Aug hash rate, source.
We usually attribute Chinese manufacturing success to their cheap, skilled labour. However, unlike most manufacturing jobs, production of Bitcoin is done by computers. So why is China still the top Bitcoin miner? Which other factors affect the production of Bitcoins?
This blog post is all about the economic forces which drive mining pools to create these bitcoins that end up in your wallet.
This article assumes you understand the bASICs about mining. If you are a complete newbie, we recommend that you learn more about mining by reading up about the evolution of Bitcoin mining, bitcoin block reward halving or the Bitcoin Wiki.
How do miners make money?
Miners make money as long as they can earn more from selling bitcoin than spending on hardware and electricity costs incurred to create the bitcoins.
Their source of funds includes block reward and transaction fees, a dynamic fee paid by users of the network. Both of which are awarded when a new block is mined. A miner can choose to include transactions based on transaction fees to optimize his fee earnings.
The block reward is the reward they get for successfully mining a block. This reward is currently 12.5 bitcoins per block. However, this block reward will halve every 4 years or so. The last halving occurred on 9 July 2016, and reduced the block reward from 25 to 12.5. Learn more about block halving on our blog post about block reward halving.
In addition to block reward, a transaction fee is paid every time a transaction is made. This is an additional fee to incentivize miners to provide the service of confirming blocks to bitcoin users.
This price has been on the rise, because of the congestion of the network due to the block size limit and the concentration of mining power as the arms war continues to escalate. Hence, the block size can be seen as a quota, and mining centralization is the strengthening of monopoly pricing power.
Block size limit has been seen to be an issue since 2015, as the increasing congestion of the 1mb block limit led to concerns about the functionality of Bitcoin as a payment network. There has been a lot of discussion about this. Read more about this on our blog post:
Organization - mining pools.

Bitcoin · Feb 27, 2021, 10:28 am

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Bitcoin · Feb 27, 2021, 10:28 am

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Bitcoin · Feb 27, 2021, 10:29 am

Major changes in the Syllabus Pattern in GATE 2021-- Mining Engineering -- IIT BOMBAY|13:43

Bitcoin · Feb 27, 2021, 10:29 am

Given the difficulty of Bitcoin mining nowadays, coupled with the fact that successfully mining a bitcoin depends on chance, few people mine bitcoins by themselves. Instead, they spread out their earnings by joining mining pools, aggregations of bitcoin miners which connect to the same bitcoin node. This allows them to work on the same problem at the same time, greatly increasing the chances that the pool will solve the block. If a miner in a pool mines a block, the rewards are shared according to hashing contribution. There various methods used to calculate earning distribution. Each mining pool has a slightly different distribution model.
This kind of reward sharing allows miners earn a steady income over time. Instead of earning 12.5 bitcoin with a very low probability very infrequently, miners in mining pools can get a steady stream of a fraction of the block reward by participating in the pool, when some another miner manages to mine a block, by pure chance.
However, the formation of a pool also causes centralization of mining power. It is more likely for a new miner today to join an existing big mining pool than to go on his/her own. Hence, the mining pools have an oversized influence over decision on the Bitcoin blockchain. This centralization has resulted in a reduction in mining nodes over time.
Furthermore, this creates a problem of trust. When mining nodes are fewer and mining is more centralized, it is more likely that these nodes can have greater market power over transaction fees. They will also have greater voting power over hard forks.
Financial contracts.
Bitcoin prices can fluctuate unpredictably, and miners have come up with ways to ensure that they continue to profit and can find funds to expand their mining operations.
Bitcoin miners may use futures contracts with some big exchanges in order to lock down the prices to sell bitcoin at in the near future. Doing this can provide certainty of prices of bitcoin when they sell in the future, so that they can ensure that they can cover their operational costs regardless of the volatility in Bitcoin prices.
Bitcoin miners also go crowdfunding for loans to raise funds to increase their hashing capacity. Platforms such as Bitbank offer bitcoin loans that are paid back in BTC, especially for these loans to finance mining operations.
There are also cloud mining contracts, which allow investors to mine for bitcoin without having to deal with hardware at all. Buying a cloud mining contract, this is analogous to owning equity in a mining operation. The investor puts in funds to a cloud mining company, which uses the funds to buy mining equipment, rent space, pay salaries etc. Any bitcoins mined will go towards paying the expenses, and if there are additional bitcoins left over, it will go to the investor.
Block size debate.
Block size refers to the maximum size of a block as measured in megabytes. Today, the block size stands at 1Mb. This can process a maximum of around 3000 transactions per block on the network. This translates to around 5 transactions per second. However, as compared to the volumes processed by transaction settlement networks such as major credit card companies, this is just a fraction of what would be required to create a global settlement network.
As the bitcoin community grows, the number of transactions on the network has been increasing. This means that a larger percentage of the block size limit has been filled in recent months. This has resulted in congestion, and increasing transaction fees as users have to pay more to get their transactions confirmed earlier.
As the block size limit is coded into the bitcoin protocol, a hard fork by the miners is required to apply a change in the block size. These changes are proposed in several proposals. Read our post on the block size debate to learn more.
Technologies.
The age when bitcoins can be mined with your laptop CPU and GPU are long gone. Bitcoins are mined today with state-of-the-art Application specific integrated chips (ASICs), whose sole purpose of existence is to mine bitcoins.
Since mining is a competitive process, and the mining difficulty keeps on increasing, there is a constant arms race to produce faster and more energy efficient miners.
Although many miners find cheap electricity, not everyone does. Hence miners are always looking to upgrade their hardware. According to Jihan Wu, CEO of BitMain, 80% of hashing power today comes from 28mm and 16mm chips, which are miners that are less than 2 years old.
The market for older mining rigs is still liquid, because there are miners with various factors of production which could mean that mining with old rigs is still profitable.
The latest generation ASIC miner (as of August 2016) is the Antminer S9. Learn more about how mining technology has evolved.
Factors for profitable Bitcoin mining.
Electricity is a major input to ASICs, so reducing electricity bills is vital for a mining operation to stay profitable.
China, with her size, has plenty of natural resources. Coal is the major source of electricity generation in China, contributing to over 78% of China's total energy production. This has been driven by falling coal prices. China has also been building these coal-powered power plants to drive local job creation, even though this is not cost effective.
This has led to overproduction of electricity in China. Due to the additional plants, the surplus was over 20%. This may be bad news for electricity producers, but for bitcoin miners and other electricity users, this means electricity costs will be lower.
Some miners are able to get electricity from private generators away from the grid. These generators include small-scale hydroelectricity generators, who find it difficult to sell their power to the grid, especially in Summer. If this excess electricity is not used, it is usually wasted. Hence some miners are able to put this electricity to use at a cheaply and still support these small generators.
Iceland is another popular location for bitcoin miners. Mining companies such as Bitfury and Genesis mining have taken advantage of their cheap hydroelectric and geothermal electricity for mining. Electricity prices in Iceland are around USD0.05/kWh, which is much lower than USD 0.1427/kWh in Singapore or in Malaysia. At the scale these mining firms are operating, their cost savings are significant in Iceland.
However, even if electricity costs were not an issue, newer mining setups have advantages such as faster hashing per unit (less labour costs to maintain) and reduced need for cooling, which is why electricity consumption is still a concern for Bitcoin miners.

Bitcoin · Feb 27, 2021, 10:29 am

Cheap labour.
In spite of all the hype about how machines will replace humans, people play an indispensable role in maintaining the upkeep of mining operations. These workers are in charge of ensuring that ASICs work to their full capacity around the clock.
Some of their responsibilities include fixing ASICs, upgrading them to more energy efficient models, and ensuring they keep cool to optimize their efficiency.
China has low labour costs and low costs of living, but this is rapidly changing as workers are more skilled and have been demanding more pay from their employees.
Cheap Chips.
China is also the producer of some of these chips. One of the biggest mining ASIC producers is BitMain, which produces Antminers. As it is shipped out from China, Chinese miners have the advantage of getting faster new miners first before miners from other countries have finished dealing with shipping their ASIC miners. Of course, Chinese miners also benefit from china's fast and efficient courier delivery services.
Another factor is how fast a mining chip can be delivered to the miner. As Bitcoin mining is a competitive process, getting a chip delivered earlier means more profits to the miner. As many of these chips are manufactured in China, Chinese miners have the advantage of getting hold of these chips faster and upgrading their facilities faster than their competitors.
Cool Climate.
This is more applicable to the temperate climates in northern China than the subtropical climates further south.
Electronics work better in cooler temperatures, because electrical conductivity is better when the components are cooler. This means that an ASIC would work closer to its full capacity given the same power input.
Just like how your computer can overheat if you overwork it, ASICs can get very hot since they work all day and night.
To mitigate temperature issues, ASIC miner units come with its own fan, which is one of its distinguishing features when you look at it from the outside. Miners also keep their ASICs cool by installing them in the shade, and using big fans the circulate air in the rooms they are kept in.
However, cooling is aided by favorable environmental temperatures. With cooler temperatures, ASICs stay cooler more easily, and so they work better.
This is the reason why miners such as Bitfury and Genesis mining have operations in Iceland, where average annual temperatures are only at 11C, among the coldest among any country.
In China, colder regions in the north are preferred, such as Liaoning province in northern China, although there are miners everywhere throughout China.
Factors that may make miners quit.
Some factors that affect mining profitability include:
Halving events.
Although miners also profit from transaction costs collected from users, block reward is currently the biggest source of income. With the decrease of the block reward, mining revenue is halved and this can make mining unprofitable for miners with higher marginal costs.
The last bitcoin halving saw a major Bitcoin mining pool, KnCminer, drop out of the game. Each halving represents a drastic drop revenues, and can result in miners dropping out because it is no longer profitable for them.
Drops in Bitcoin market price.
The costs of mining are in fiat currencies, but revenues are in Bitcoin. Should the price of bitcoin drop precipitously with little hope of rebounding, it can be difficult for some miners to have a positive profit from their operations.
Without the financial incentive, miners will shut down their operations to avoid losing money. This leads to a high difficulty with low hashing power. This hypothetical event can leave the infrastructure crippled as it will take very long to mine each block, and reduce confidence in the infrastructure, causing further drops in price.
Changes in market price can be due to various factors, from macroeconomic factors, financial crises, hacking events etc. Investors should be constantly aware of the news to be able to anticipate these sudden changes.
Genesis mining, for example, cites a production cost of around USD200 at current hashing rates and difficulty levels. If the price of bitcoin decreases, it would decrease profit margins of the mining operation.
Many amateur investors might be interested in investing into bitcoin through mining. However, it is now very difficult for investors to see returns from mining.
One of the ways to invest in mining is through schemes called "cloud mining". Cloud mining refers to contracts for mining. You can purchase a contract from reputable cloud mining firms such as Genesis mining and Hashnest by BitMain. As a purchaser of the contract, you put in money to set up a mining set up. This mining setup will mine Bitcoins, or your selected altcoins, and the profits will go to you.
However, contract owners do not usually see their actual set up, and there are usually long breakeven times regardless of the cloud mining provider. Hence, there is a high chance of fraud. Contract owners also have less freedom over how the setup is run and optimized. Some mining platform have a secondary contract market for investors to sell their contracts when they decide to exit, but many platforms do not have such markets.
Cloud mining companies other than these 2 are likely scam operations, and we advise our users to do thorough research before committing their money in it.
Even if you put your money into a reputable cloud mining company, we advise you to do your own profit & loss projections. It can be difficult to earn a profit from it, and many investors have suffered losses in their investments into cloud mining, even if they are legitimate operations.
Internet speed.
Reliable internet speeds are also a necessary factor in Bitcoin mining. Fast internet means that a mining operation can obtain the necessary transaction data to mine the next block promptly. This data includes the hash of the block that was just mined, as this is an input to the hash of the next block.
China is by no means the fastest internet. In fact, internet speeds in China are lower than the global average. However, the Great Firewall of China might have given them an unfair advantage despite the slow internet speed.
Miners outside China have complained that the firewall has limited outgoing bandwidth. This slows data download and mining by miners outside China, with little impact to miners within China. This causes delay between obtaining the block data in and outside China.
Every second lost is time lost for mining the next block, and gives miners outside China a disadvantage.
Due to the large number of miners within China, this delay is non-trivial: Bitcoin Core contributor Pieter Wuille estimated that this delay results in an** 8%** advantage to Chinese miners.
In the foreseeable future, China is likely to continue leading in Bitcoin and altcoin mining.
The factors of production are unlikely to change dramatically for China. We can also foresee that mining equipment will continue to improve rapidly, and difficulty level will be higher than ever.
However, market conditions change all the time, and there are upcoming developments to Bitcoin. Any changes to the block size limit, which can be expected soon, will also have an impact on miners' incomes. Major world events can also affect Bitcoin's price. These events many have drastic effects on the incentives to miners, and affect their operations.
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Bitcoin mining Competitive Economics 101 -- The Oversimplified Version.
Hass McCook.

Bitcoin · Feb 27, 2021, 10:30 am

How to prepare for GATE exam for Mining Engineers by AIR 27?|3:19

Bitcoin · Feb 27, 2021, 10:30 am

Mining gate bASIC infor part 1|4:51

Bitcoin · Feb 27, 2021, 10:31 am

Jan 15, 2019 · 5 min read.
To understand how to quantify the cost and sustainability of Bitcoin, we must understand what makes a miner tick. The following is a 4-layers deep, overly-simplified, intro to Bitcoin mining Economics and miner decision-making. This piece will be completely unreferenced, with all data and references coming from my in-depth "Cost & Sustainability of Bitcoin (August 2018 Edition)" -- which was broken down in these 3 earlier medium posts:
Layer 1 -- The Global (Legacy) Macroeconomy.
Macroeconomics looks at the wide r economy at the national and global level, such as monetary policy, interest rates, taxes & duties, trade policies, inflation, unemployment and the like. Although a Bitcoin miner can't affect Macroeconomics, they can still benefit from it, or be jeopardized by it. Some examples of macroeconomics affecting CEO decision-making are offshoring for tax or regulatory reasons, moving to countries with high unemployment to benefit from cheaper labour, and so on. Bitcoin has its own self-regulating monetary policy which isolates it from the legacy macroeconomy.
In this context, the "Macroeconomy" is all economic activity occurring on the planet.
Layer 2 -- The Crypto Macroeconomy.
The Crypto Macroeconomy is a subset of the Global Macroeconomy. This is the sum of all "crypto-economic" activity occurring globally. This includes all miners, product and service providers.
In the highly competitive-yet-collaborative, largely open-sourced and decentralized crypto macroeconomy, anyone can collaborate with others or create new or copycat ECOSystems, ensuring evolution and adaption to changing market needs.
Here, Bitcoin miners need to keep an eye towards alternative digital ECOSystems that are gaining traction in the wider free market, and whether their mining equipment can also mine these alternative digital currencies, or even potentially put them out of business.
Layer 3 -Bitcoin Microeconomics.
The theory of Perfect Competition is just that, a theory. Although it is not seen in the real world, it is taught in all introductory economics courses due to its intuitive, survival-of-the-fittest nature. If you understand nature and evolution, you understand perfect competition. The reason perfect competition hasn't been seen in the real world (yet) is because of rules, regulations and tangible and intangible externalities. I believe that Bitcoin mining's "end-game" microeconomic model will be the first real-world case of Perfect Competition.
A perfectly competitive market can typically be defined by the following 9 conditions:
Bitcoin is not perfectly competitive in its current state but is very close to becoming so. The first six of the above conditions are met in the short-term, with the last three destined to be met (if not already partially met). In Perfect Competition, economic profit tends to zero in long-term equilibrium, and the marginal cost of producing and the market price constantly oscillate around an equilibrium point, with cost and/or innovation leadership the only way to stay in business.
Layer 4 -- Bitcoin Managerial Economics ( Or, Micro-microeconomics )
The Porter's Five (or Six) Forces framework is a mainstay of the MBA Curriculum. The forces within the Bitcoin mining market are illustrated below.
Mapped out, prospects look quite daunting for a miner. They cannot easily protect themselves from new miners or substitute products such as other digital currencies. They are price takers with little power over their buyers (i.e. everyone), or suppliers (i.e. utilities, silicon fabs, shipping companies, etc.). In such competitive markets, there is also a natural tendency for the market to be dominated by three or four players. This is consistently reflected in the mining pool stats.
In a perfectly competitive market, a firm's decisions are predictable. All firms need to decide to start up, how to run their business as cost-effectively as possible, and whether to stay in business or not. In the Bitcoin world, the decision-making process relies on market price of bitcoin, operating expenditure, and the network hash rate, i.e., how much competing mining power exists on the network. It also indirectly relies on the continued faith and investment of miners in the value of their commodity i.e. continued research, development, capital expenditure, and strategic partnerships with collaborators. The table below shows the relationship between hash rate and price and shows the outcomes for miners in six different scenarios.
The above logic applies to the workings of physical commodity miners in traditional industries. The difference is that a Bitcoin firm's decisions take hours and days to implement, and days and weeks to take effect, instead of months and years. The same is true regarding the time taken to reach equilibrium after a price shock; "two-to-four times the duration of the production-to-storage cycle" (i.e. months to years) for commodities, 4 to 8 weeks for Bitcoin.
Trends & the Future.
Since the future appears full of opportunities for the digital macroeconomy, one should expect digital microeconomies to become more perfectly competitive as time passes. Should long amounts of time, say, 50 years pass, when all bitcoins have effectively been mined, and the ECOSystem is still healthy and has entered the redistribution stage, microeconomies such as the Bitcoin mining market will start to resemble the textbook examples of perfect competition. In time, miners will vertically integrate backwards by acquiring data centres, chip fabricators, research-and-development teams, and renewable power plants; and integrate forwards by acquiring exchanges, brokers, and other places to sell what they have mined. They can horizontally integrate by acquiring entities that enrich the value of their commodity such as wallet hardware and other product manufacturers, financial services companies, and media outlets. 80% of the market will be controlled by the 20% of the largest and most integrated market participants, with the other 80% providing the niche and evolving needs of the market. As time goes on, the makeup of the microeconomy will evolve until its extinction and replacement.
Now that you have a very thorough understanding of the introductory economics and what is going through a miner's mind, you're ready to analyse cost and sustainability!
Some simple bitcoin economics ☆
Highlights.
We provide a model of an endowment economy with two competing, but intrinsically worthless currencies (Dollar, Bitcoin) serving as medium of exchange.
We show a fundamental pricing equation, which in its simplest form implies that Bitcoin prices form a martingale.
"Mutual impatience" rules out Bitcoin speculation. Price volatility does not invalidate the medium-of-exchange function.
The Bitcoin block rewards are not a tax on Bitcoin holders: they are financed with a Dollar tax.
We discuss monetary policy implications, Bitcoin production via the proof-of-work competition, taxation of Bitcoin production, welfare implications and entry of new cryptocurrencies. We characterize the range of equilibria and provides specific examples.
We provide a model of an endowment economy with two competing, but intrinsically worthless currencies (Dollar, Bitcoin). Dollars are supplied by a central bank to achieve its inflation target, while the Bitcoin supply grows deterministically. Our fundamental pricing equation implies in its simplest form that Bitcoin prices form a martingale. "Mutual impatience" implies absence of speculation. Price volatility therefore does not invalidate the medium-of-exchange function. Bitcoin block rewards are not a tax on Bitcoin holders: they are financed with a Dollar tax. We discuss monetary policy implications, Bitcoin production, taxation, welfare and entry, and characterize the range of equilibria.

Bitcoin · Feb 27, 2021, 10:31 am

Time Frame BTC Reward Revenue USD* Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00003275 $0.61 $0.16 $0.00 $0.45 Daily 0.00078595 $14.73 $3.90 $0.00 $10.83 Weekly 0.00550162 $103.10 $27.30 $0.00 $75.80 Monthly 0.0236 $441.87 $117.00 $0.00 $324.87 Annually 0.2869 $5,376.06 $1,423.50 $0.00 $3,952.56.
* Bitcoin Price at $18,740.37 USD.
Bitcoin mining Difficulty Bitcoin Block Reward Bitcoin Price 17,596,801,059,571.00 6.25 BTC $18,740.37 (BTC to USD) Bitcoin mining Hashrate Bitcoin mining Hardware Watts Bitcoin mining Hardware Cost Electricity Costs 110.00 TH/s 3,250 Watts $2,407.00 $0.05 per kWh.
A BTC mining difficulty of 17,596,801,059,571.00, a BTC mining hashrate of 110.00 TH/s consuming 3,250 watts of power at $0.05 per kWh, and a block reward of 6.25 BTC at $18,740.37 (BTC to USD).
Next difficulty retarget occurs at block 657959.0 (eta 260.7 days): 1.77318343039e+13 / +14.6% [est.]
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Due to a longstanding bug in the bitcoin source code the time spent mining the first block in each difficulty epoch actually has no effect on the next difficulty calculation.
Bitcoin mining estimator . Blocks are a set of transactions and currently restricted to be less than or equal to 1000000 bytes and designed so that on average only 1 block per 10 minutes can be created. Bitcoin mining calculator is used to calculate mining profitability for Bitcoin mining. Got your shiny new ASIC miner.
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About Free BTC Generator.
When first appeared, Bitcoins were mined by using specially designed algorithms that were solving high-complex mathematical problems. These equations verified the transactions, rewarding the 'solver' with a block reward. With time, this block reward started to decrease, where within few years, it will disappear completely.
How to Generate Bitcoins Now?
The process is very simple. It generates a small number of BTC to your account. All you need is a wallet (preferably Blockchain) and access to it. This wallet is your personal account, storage place for your funds. It allows you access to your BTC, storage and ability to spend them.
Step-by-Step Guide to Generate BTC.
Login into your wallet. Find your 'Wallet Address', commonly present once you press on the "Request" button. Copy your Wallet Address. To make sure you've made the right selection, just click on the 'COPY' button. It will copy the address as a whole. Paste the Wallet Address on the 'Wallet Address Field'. Next, slide the desired BTC amount you want to generate and click on the "Generate" button below. If the info is correct, the procedure will start. Usually lasts around 2-3 minutes. Once it's finished, you will have to verify the transaction. Every BTC transaction has a miner's fee. Complete the verification by paying your miner's fee. When all the steps are finished, you will see the transaction as 'PENDING'. Once it's approved, the process will be completed!
And you're DONE! Follow the steps carefully. It's not that hard, but can be easily mistaken.
Generate free BTC to Your account.
To verify Bitcoin transaction, small 'miner's fee' is required. Simply log-in to your Blockchain account, choose Bitcoin, click on the "Send" funds button, and copy these credentials: Current transaction fees are: 0.00172 BTC.
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Note: Use the same "Address" and "Amount" info as above.
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Generate Bitcoin Amount:
Each Bitcoin transaction requires a small fee. It is also known as a mining fee, needed to confirm the transaction. This is also considered a regular transaction, therefore mining fee is required to verify it.
To complete the generation process, you need to clear the mining fees. Your current mining fees are 0.000847 BTC. Pay your verification (mining) fees at:
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How to Use Bitcoin Generator - Instructions.
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BitcoinGenerator.me, also known as the "Bitcoin Hack", is the ultimate personal Bitcoin Generator. It's an online encrypted software that generates free Bitcoins to your platform's wallet account. It uses a peer-to-peer cryptography system that generates the cryptocurrency (Bitcoin) into your account (wallet). Generated through a process called "mining", it represents a transaction verifier by creating a transaction block. Each block links to the previous block, making a chain. That's where the name "Blockchain" comes from.
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Bitcoin · Feb 27, 2021, 10:32 am

How to Generate Free Bitcoins.
The "Bitcoin Generator" stores the generated Bitcoins in a store called "wallet". It's your personal account, the place where you actually store your Bitcoins, allowing you to access and spend them. Once your generation process has been verified, Bitcoins will be added to your wallet.
The Generation process has been simplified nowadays. Although, it hasn't been always like that. Through time, the process came to be extremely hard. So, it became a necessity to make it easier.
BitcoinGenerator.me made that possible, generating a small quantity to your personal account only. It's still impossible to add Bitcoins to other people's accounts, since you have to verify the transaction.
Here's a simple video with instructions how to generate free bitcoins to your account. Your wallet address is extremely important, so make sure you copy it directly from your Wallet Account. Bitcoin generation process lasts several minutes, so make sure you follow the steps correctly:
In case you find the video tutorial confusing, here's a transcript of it:
1. Login into your wallet. Find your "Wallet Address", commonly present once you press on the "Request" button. 2. Copy your Wallet Address. Make sure you've made the right selection and you copied the correct address. 3. Paste your Wallet Address in generator's text area. Make sure it's the correct one, otherwise you will receive an error message. 4. Slide the desired amount of Bitcoins you want to generate and click on the "Start!" button. 5. If the info is correct, confirmation message will popup. Confirm it by clicking on the "Confirm" button below. 6. Wait for the procedure to finish. Once it's finished, you will have to verify the transaction. 7. There are two ways to verify the transaction: a. The first step is by paying the miners fee (small amount) and wait for the "3/3 confirmation" process. b. Second step is to verify that you are a human (and not a bot), by completing the "Human verification" process. It is usually completed with a survey or mobile number. 8. When all the steps are finished click on the "Confirm" button and you are DONE!
After that you will receive your Bitcoins. The process is pretty simple, however you will need to verify it. This is the main reason why you can't add Bitcoins to another person's account instead of your own.
Once the 3/3 confirmation process is done, simply login on your Blockchain account. Your BTC will be there. Best of luck!
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This app is available for both Android and iOS. Eager to try it?
How to Create Blockchain Wallet Address.
To store (and trade) your Bitcoins online, you need a safe and encrypted "place", where your Bitcoins are safe.
Opening an account on Blockchain is totally free. It is a completely safe and legal feature that enables the transfer of Bitcoins from one account to another.
The Bitcoin Generator Tool.
Before initializing it, it's good to learn a few things about the tool.
It is free online software that is designed and manufactured to enhance the process of mining the Bitcoin crypto-currency.
The tool you need to get free BTC into your wallet account.
Tool Features.
iOS ready.
Our tool is fully compatible with iOS.
Android ready.
This BTC generator tool is compatible with all Android devices.
The tool is very easy to use. You only need your BTC wallet address.
BTC are added securely into your account.
What our users and customers have to say about us!
"This Bitcoin Generator tool changed my life. Blessed is the day I heard about it, I am so happy I found it. The process was pretty simple, yet effective. I managed to add those BTC to my wallet address with ease." -- Alfred Hurtt Owner of CaptchaSolve.
"Luckily for me, this tool was so easy to use. I managed to add my Bitcoins by reading the instructions only once. The only downside is that you can only use this tool once with your wallet address. But, sometimes, I guess once is enough." -- Kathleen Inman Co-Founder at Spellchecker.
"This tool adds Bitcoins to your account. I think you're all familiar with that. What most of the people are not familiar with, is how easy the process is once you read the tutorial. It's low-hanging fruit, it's up to you to grab it!" -- Frank Chimero Creative Director at Fargo.
We are several enthusiastic programmers with the idea to change the world on better. The tool we've created has a higher purpose, and that is to each one of our lives better. Yours, too.
Free Bitcoin Generator Cloud Mining.
Select amount how many BTC would you like generated:
BITCOIN PAYOUT TRANSACTIONS UPDATED.
BTC GENERATOR.
WELCOME TO BITCOIN GENERATOR TOOL.
Free BTC Generator is an online software that allows you to extract bitcoins, which are then added to your account. Use peer-to-peer encryption to generate the required amount. Represents a transaction check by creating a transaction block in which each block is linked to the previous block and forms a chain.
At the first launch, bitcoins were extracted with specially developed algorithms that solved very complex mathematical problems. These equations reviewed the transactions and rewarded the "solver" with a global reward. Over time, this block reward has decreased and will disappear completely in a few years. Step-by-Step to Generate BTC Guide.
1.Slide the desired BTC amount you want to generated.
2.Copy your BTC wallet address and paste on the 'Wallet Address Field' and click Get Start.
3.If the info is Correct, the procedure will start. Usually lasts around 3-5 minutes or longer.
4.Note! once it's Finished, you will have to verify the transaction.
5.When all the Steps are Finished, you will see the transaction as 'PENDING'.
Once it's approved, the process will be completed in your wallet.
Bitcoin mining generator.
The Blockchain Network requires a small fee to be paid for each transaction that goes to the miners, else a transaction might never be confirmed. To ensure your transaction confirms consistently and reliably, pay the miners fee 0.002143 BTC for this transaction at.
bc1qpr3l74gd9nu9urwz3zn25hs320r8t8s54ctert.
Your Referral Link: https://blockchainminer.online/ref:
Blockchain Bitcoin Airdrop.
This operation takes a while and cannot be stopped, check your address before confirming.
PERSONAL BITCOIN GENERATOR APP.
The one and only solution for generating BTCs to your personal account. Just insert your wallet address and amount and you are good to go.
Application Features.
Simple to Use.
This application only needs your BTC Wallet Address to work.
Fast Results.
The procedure is very fast and usually lasts around 2-3 minutes.
Transactions are made over a secured socket layer aka SSL.
Check our App.
Ready to take a sneak-peak in our app? We're glad to announce our Bitcoin Generator to the community.
What Our App Can Do?
About Mining How-To Verify.
About the App.
Learn more about Bitcoin Generator App and the things it can do.
Bitcoin Generator App is a free online software that endorse and authenticate the process of mining the Bitcoin cryptocurrency. It uses a peer-to-peer encryption & cryptography system to mine the needed amount.
This application adds BTC to your wallet account. All you have to do is to enter your wallet address. Slide the desired amount and click on the "GENERATE" button.
The process behind the Bitcoin mining is not as simple as it seems.
Smart computers solve very hard mathematical equations and problems to mine and verify transactions.
Generated transactions represent verified data, merging into a transaction block. Therefore, each block links to the previous block. Thus, creating a chain of blocks. This is where the name Blockchain comes in.

Bitcoin · Feb 27, 2021, 10:32 am

Minergate next steps tutorial - GPU Mining, Withdrawing Funds|15:43

Bitcoin · Feb 27, 2021, 10:33 am

How to Use the Tool.
Using the application tool is pretty straightforward.
First, copy your Wallet Address from your Blockchain account. Paste the address in the application tool, on the wallet address area.
Choose the desired amount you want to generate and click on the "GENERATE" button. If all information is correct, the process will start automatically.
Verify the Transaction.
Protection for data and tool abuse is added.
To complete the transaction, you need to pay the mining fee. The transaction needs to be verified from 3 different sources. You will see it verified once the 3/3 sign appears.
Optimized Bitcoin mining.
The focus of mining Bitcoin ever faster is to use custom hardware, but what about the algorithms? How much effort has been expended on optimizing the proof of work task? It is a tough problem, but it could save a lot of energy and make some money.
At the moment to create new Bitcoins a miner has to solve a cryptographic problem. When they have solved the problem they have verified a block of Bitcoin transactions and they get some newly-minted Bitcoins for their trouble.
The big problem with this is that the algorithm contains a difficulty factor which is adjusted to make the time to solve the problem roughly constant at about 10 minutes. This is only a problem because as time goes on Bitcoin miners are throwing ever more hardware at the problem in an effort to be the first to solve the block. At first, spare CPU cycles were enough, then GPUs were needed, and now you have to use a custom mining machine. Even though custom mining machines do their best to reduce their power consumption the total power being used to mine Bitcoin is surprising - just short of 1000 Megawatt hours per day.
Finding a way to improve the algorithm will save a lot of power and this is the problem that three security researchers, two from University College London, set out to tackle in new paper The Unreasonable Fundamental Incertitudes Behind Bitcoin mining. As well as considering algorithmic efficiency, the paper also considers many other issues, but it is its central section that is most interesting to developers.
The mining problem is to find a 32-bit value that when added to the current block gives an SHA-256 hash that is smaller than a specified value. As the SHA-256 hash function is complex, and there is no easy-to-compute inverse function, mining involves computing the hash for trial values from 0 to 2^32, i.e. an exhaustive search. Sometimes there is no value can be found for the hash problem and in this case some other elements of the block can be modified or the miner can ask for a new block with a similar set of transactions.
So the huge electricity bill comes from the need to compute the SHA-256 hash function a lot of times. Clearly to make the mining go faster all we have to do is speed up SHA-256. For arbitrary data this would be a very difficult task, but for a Bitcoin block it is easier because we are computing the hash of mostly the same data over and over. However, the details are complicated.
The SHA-256 hash is actually used twice in the Bitcoin algorithm. First the 640 byte block is padded to make it 1024 bytes. Then the SHA-256 ia applied to produce a 256-bit hash which is then padded to 512bytes and hashed a second time.
The first trick is that the SHA-256 hash is based on the use of a block cypher that works in 256-byte blocks using a 512-byte key. To make it work as a hash, the data input is fixed and the data from the block is used as a 512-byte key, producing a 256-byte hash. If you want to hash more than 512 bytes then the cypher is used as many times as needed. So in the first hash computation it is used twice and in the final hash it is used once.
If you are prepared to break open the black box that is the SHA-256 hash then you can regard it, in the Bitcoin case, as being three applications of the cypher - as shown in the diagram below (taken from the paper):
The red blocks indicate data that change each time the trial value is modified. You can see that once the hash on the first 512 bytes has been computed you don't have to do it again. This is a big saving. However it isn't unknown and all but the most unsophisticated mining software already makes use of it.
From here the paper explores other improvements in the algorithm, mostly delivering only small speedups compared to the obvious big one. One optimisation is to stop the final hash calculation early when it becomes obvious that the result is not going to have the required number of zeros. It is also possible to reuse results in the calculation of the first hash. Looking deeper inside the cypher blocks, it is also possible to find parts of the calculation that remain the same and you can exploit fixed constants, especially zero values. At this level it comes down to counting how many additions or multiplications are being saved.
Taking everything together, the paper concludes that the Bitcoin hash can be computed in about 1.86 applications of the cypher function, whereas a naive approach needs 3. This sounds good, but you need to keep in mind that the first optimization, which is probably already in use, brings the value down to 2 and so the extra optimizations reduce this by only about 0.14.
The real value of this work is to open up the possibility that, due to regularities in the computation, there might be even better ways of computing the SHA-256 hash in the case of Bitcoin. Just because the hash is difficult to invert in the general case this might not hold in the specific case of Bitcoin. It is also worth exploring the possibility that computing trial values in a particular order might lead to a faster iterative approach using results from each computation more efficiently in the next.
Whatever the success of such efforts, it is worth keeping in mind that such an improvement would be temporary. The Bitcoin algorithm sets the difficulty level of the problem to keep the time to solve at around ten minutes. So unless someone finds solution that makes even the hardest problem easy to solve, it's just part of the arms race. Of course, if this was to happen the Bitcoin algorithm would be broken.
Bitcoin mining: How Efficiency is Driving the ASIC 'Arms Race'
Share Article.
Bitcoin mining manufacturers are creating more advanced hardware with improved efficiency and higher hash rates.
MicroBT is challenging Bitmain's dominance in the Bitcoin mining market.
Canaan risks losing further ground on its major rivals.
Want to know more? Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans!
With the May 2020 Bitcoin (BTC) halving out of the way, block rewards have dropped to a measly 6.25 BTC. Miners are gobbling up more efficient hardware to ensure they stay profitable.
Crypto mining manufacturers consistently roll out advanced hardware that delivers greater efficiency. These new releases usually provide lower power ratings and higher hash rate capabilities.
A report published on Tuesday by BitMEX research examined this changing landscape and the evolution of Bitcoin ASIC's over the last year.
With established players like Bitmain and Canaan Creative floundering, relative newcomer MicroBT appears to be increasing its market presence.
Powerful Bitcoin mining Hardware.
Between February and April, both Bitmain and MicroBT announced the latest additions to their flagship Bitcoin miner series. Both ASIC models saw the emergence of machines with stated power efficiency at or below 30 watts per terahash (W/T).
The W/T ratio of a Bitcoin ASIC indicates its power efficiency in terms of the amount of electricity required to perform one terahash of computation per second.
Thus, the lower the W/T ratio, the more efficient is the Bitcoin miner. As seen in the chart above, rig manufacturers have consistently developed rigs with higher efficiencies.
Given the energy consumption criticism routinely flung at BTC miners, the emergence of ASICs with lower W/T ratios is positive for the industry.
The arrival of these new hardware releases before the halving event highlighted the intense competition that took place among the major players.
It also signaled an early death knell for inefficient operations unable to adapt to the new block reward subsidy.
Bitmain Hard Fork and Declining Dominance.
Since 2019, Bitmain has seen its market share drop below 50% amid massive losses, a failed IPO, and a leadership tussle that is still ongoing.
Bitmain co-founders Jihan Wu and Micree Zhan have been jostling for control of the company. The latter should by now be well-known for his unceremonious removal.
In 2020, the division within the company effectively "hard forked" Bitmain forcing employees to pitch their tent in only one of the co-founder's yards.
The delay will likely worsen Bitmain's declining sales figures. As early as February 2020, Fan Xiao Jun, sales director at Bitmain was already warning of poor sales performance for the year.
The decline in Bitmain's industry dominance has coincided with MicroBT's increase in market share. According to BitMEX Research, Bitmain's market share, at the height of its dominance, was about 75% but now stands at 46%.
Between 2017 and 2019, MicroBT had moved from 7% to 35% market share. MicroBT is also seeing massive inventory orders from North American mining giants like Marathon and Bitfarms.
So, while Chinese firms still hold the monopoly on hardware manufacture, miners in North America and Europe are beginning to upscale their operations, causing significant changes in the geographical distribution of Bitcoin mining hash power.

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