Bitcoin mining.

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We have reviewed both trading platforms:
Cryptocurrency Mining.
When Bitcoin first started, it was possible to mine the blockchain for Bitcoins using your desktop computer. However, as people got wind of the price increases with the cryptocurrency, more people started buying better computers for mining. Eventually, it wasn't long before tech companies began designing and building "mining rigs."
With a mining rig, you could mine different coins faster, producing better returns. However, technology kept improving, and miners kept getting smarter. Miners started connecting multiple platforms to increase hash power, creating "mining farms."
Soon, mining companies started forming in Asia, backing by subsidized energy costs, enhancing mining profitability. As the Bitcoin Mania crept toward the all-time high of $20,000, more miners started coming online, improving the hash rates.
However, it made it near impossible for anyone to mine Bitcoin using regular computers and specialist rigs called "ASICs" were produced which costs thousands of dollars.
However, there is a way to make money mining Bitcoin without moving to China to set up a mining farm. With the recent drop in Bitcoin price from the $11,000-handlle to the lower $ 8,000's, many mining companies are going broke that bought equipment at prices above the $10,000-handle.
As a result, you can find second-hand mining rigs, with plenty of service life, for auction prices on sites like eBay. Purchasing one or two of these professional rigs and set them up in your garage and you can mine some less-popular coins and then trade these for BTC on an exchange.
The returns won't be great but they are a way to get your foot in the door and if you pick a good coin and hold it, it may increase in value later on.
Become a Bitcoin Consultant.
People that get involved with Bitcoin find themselves learning a lot about cryptocurrency in a short period. For some people, the information overload is too much to handle, and they can't grasp the topic. Others find the blockchain and hot and cold wallets fascinating, soaking up all the technicalities around the industry.
If you start learning about Bitcoin, 6-months later, you'll find yourself an expert about everything to do with the topic of cryptocurrency. If you put in the time to study how the markets work, and how to trade, sell, and buy cryptocurrency, that's valuable knowledge.
Some people will pay you to learn what you know. You could put together information courses on how to trade, buy, and sell, crypto, and then promote it through social media. Selling a virtual product means you keep no physical inventory, reducing your overhead costs of doing business.
Bitcoin consultants are in high demand, even in a falling market. If you build your reputation as an expert in crypto, eventually, you'll start to obtain a client base. When the next Bitcoin bull-run comes around, you'll find yourself in the perfect position to benefit from the next bubble.
Network Marketing Opportunities.
When you put the words "networking" and "Bitcoin" in the same sentence, most people start to hear alarm bells going off in their heads. At the height of the Bitcoin bubble, there were plenty of network marketing schemes promising bitcoin for noting.
These network marketing scams typically offered people an investment shareholding in a Bitcoin mining farm. As more investors came into the system, the farm buys more equipment, and the hash rate of the farm improves.
However, many of these farms were a scam. They would operate for four to six-months, bring in thousands of suckers through network marketing schemes, and then disappear with everyone's money. Since most of the farms registered as businesses in China, the investors lose everything overnight.
However, in the wake of the bubble and the economic destruction of network marketing scams, new businesses developed to fill in the gaps. Now there are legitimate network marketing opportunities in cloud mining.
If you do your research and find a reputable Bitcoin network marketing company, it offers you a foothold into the industry. It typically doesn't cost much to enter into network marketing organizations, and the returns are fantastic if you work hard to build your downline.
Lending Bitcoin.
One of the biggest benefits of Bitcoin and a feature that makes it valuable to people using it online is its decentralized nature. Bitcoin is not under the control of any government or central bank. Essentially, it's a lawless currency. However, Bitcoin gets its integrity from the blockchain technology, supporting every transaction that goes through the network.
People manage blockchain, not banks or governments. As a result, you don't have to adhere to financial laws surrounding lending. Lenders in the fiat currency market of US Dollars need to adhere to financial legislation and register as a financial services provider to engage in transactions with investors and the public.
However, you don't need any of this compliance to do this in the cryptocurrency world. As a result, nothing is stopping you from setting up an exchange if you wish. There's no-one that will prevent you from setting up a lending agency wither. Both of these markets offer unique opportunities for people to make money in the next evolution of Bitcoin.
There are already lending platforms available at offshore exchanges. Unchained Capital, BTCpop, and Bitbond borrow your bitcoin for an APR interest rate of up to 15-percent. You can use these lenders to grow your Bitcoin profits. All you do is send them your Bitcoins, and they send you a monthly income or an increase in the equity of your cryptocurrency account with the exchange.
These lenders then use your crypto to trade the markets, banking the profits they make with your capital after paying you your interest.
Threats to the Future of Bitcoin.
Investing in Bitcoin is not without risk. As with any asset class, you need to understand the risks involved with the digital currency before you hand over your dollars for digital tokens. There are numerous risks to the Bitcoin economy. However, in this article, we'll look at three that we believe could damage the future of the cryptocurrency and your profits.
The first issue we have with Bitcoin comes with the technology used to run the blockchain. Last month, Google announced it successfully manufactured the world's first quantum computer. The 53-qubit machine is said to be the first in an evolution that will see processing power double with each new generation.
If that's the case, then we only need three or four evolutions of the technology before it can crack 256-bit encryption. If this were true, then quantum computers would allow hackers to infiltrate and take down the blockchain.
With computing power exceeding the blockchain capabilities, it won't be long before Bitcoin becomes obsolete. It's unclear at this stage if another cryptocurrency using quantum computing would rise to take its place.
The second risk to Bitcoin's future comes in the form of financial fraud. Twitter user @bitfinex'd did a marvelous job of covering the 2017 Bitcoin bubble. @bitfinex'd believe the sole reason for the rise in Bitcoins price during the bubble was due to tether.
Tether is a "Stablecoin" that traders use to escape the market during volatile periods. You sell your Bitcoin for tether at a 1:1 value and then wait for the price action in the market to settle. You then exchange tether for Bitcoin and keep trading.
However, @bitfinex'd show that tether pumped billions of dollars' worth of tethers into the market, with no proven reserves to back the tokens. As a result, they "pumped" the market higher. When they eventually stopped printing tethers, the market price of Bitcoin collapsed.
There are various other institutions that back @bitfinex'd claims, and think that the entire bull-run was one of the biggest financial frauds in history. The issue is that Bitcoin is not a regulated market. Therefore, the SEC struggles to put together a case to take the owners of the tether company to task for their actions.
The final threat to Bitcoin comes in the form of Bitcoin whales. According to research, 20-percent of Bitcoin addresses hold more than 80-percent of all of the Bitcoins. When these "whales" decide to sell or buy Bitcoin, they cause massive shifts in pricing. Take, for example, the Mt. Gox trustee.
This trustee managed the sale of thousands of Bitcoins in the first quarter of 2018. The trustee sold off $312-million worth of Bitcoin between January and June 2018. Some analysts believe that these sales were the catalyst for the sudden crash in Bitcoins price around the same time.

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In Closing - Is Bitcoin the Future of Money?
As you can see, there are plenty of strategies for making money with Bitcoin. Which methods you decide to use is up to you, but you can be sure that you'll start earning Bitcoin soon after starting your journey.
By positioning yourself before the next big Bitcoin bull-run, you stand to make a killing when the next price run begins. However, there's no guarantee that the event will ever take place. With so many existential threats to Bitcoin's existence, there's a chance the entire crypto-ecosystem could implode.
However, regardless of whether Bitcoin survives the next decade or not, it's changed the financial system forever. Governments are now talking about implementing state-sponsored cryptocurrencies for payments. Private institutions are working on improvements to the blockchain, and new ideas for digital currencies.
Bitcoin has already changed the future of money. However, it remains unclear if it will be here in the future. Whether we see Bitcoin succeed in global adoption in the coming decade, or we see it slide away into obscurity, there is still value in it in today's market.
Use these strategies to make yourself a cryptocurrency portfolio and earn some money from Bitcoin.
How Much Can You Make Mining Bitcoin?
A number of people are confused if Bitcoin mining is still worth it considering its demand for power and speed, the high competition and increasing difficulty. This article will make you see the Bitcoin mining profitability today.
Is Bitcoin mining profitable ? Should I do it too?
I often hear these questions from a number of cryptocurrency enthusiasts. Bitcoin mining is one of the most popular ways to earn free Bitcoins, so it's understandable why many are interested in it.
According to many, Bitcoin mining is no longer profitable! But I tell you, this it is still rewarding, it just depends on your machinery.
Bitcoin mining is an expensive way to earn free Bitcoins. Mining requires a powerful Bitcoin mining rig and a strong and reliable power supply. You have to invest in a mighty equipment to making mining rewarding.
ASIC Mining.
ASIC stands for Application-Specific Integrated Circuit . This means that the chip inside those miners are specifically for mining and can't do any other tasks unlike GPU and CPU.
ASIC chips and miners can only mine specific algorithm .
Here's an overview of your expenses and Bitcoin mining profitability with different ASIC miners.
The miners have to run 24/7 so, it's best that you consider the miner's power consumption. In this example, the kilowatt per hour (kWh) is priced at $0.10 because this is the averaged price out there. Just determine how much the kWh is in your area and update the calculation. If you pay lesser then the amount stated above will be reduced.
Please take note that the internet and space expenses are not calculated . Some have free space, but others have to rent. If you do, then just add those expenses in the amount shown below.
Considering the power consumption and monthly expenses this is your potential income.
Aside from using ASIC and CPU , you can use graphic cards (GPU). Yes, if you have a gaming computer with a good dedicated graphics card you can use it to mine Bitcoin.
This year, Radeon and Nvidia release cards that can mine Bitcoins at comparable rates.
A Nvidia GTX 1070 may cost you from $699 to $850 . If you use this for gaming for 4 hours, you can allot it to mining for the remaining 20 hours. According to Jason Evangelho of Forbes, after several months the hours spend on Bitcoin mining will transform into pure profit.
Given that you only mine for 20 hours, that 83% of the day. Most likely, you will get $1.18 per day. You will approximately get $430 per year. In 19 months, you'd have your GPU 1070 fully paid off.
"I'm currently mining with a GTX 1060 and GTX 1070, and I can vouch for these estimated profits. In fact, if you overclock your cards they will be slightly higher," he wrote.
So, is Bitcoin mining worth it? Of course, it is!
Bitcoin mining Set-Up Examples.
Here are the different cases where you can earn great profit . However, please take note that others really spend on their machineries to get these impressive rewards. Check it out below and see for yourself how you can profit from Bitcoin mining.

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Avalon 6 Bitcoin Mining Hardware Setup|8:05

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FREE CRYPTO MINING APPS - Cryptocurrency For Beginners BITCOIN (2020) Pi Network iOS Android|8:06

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GTX 1080 Ti.
For the six GTX 1080 Ti, each has 11 Gb of RAM . But they consume so much power, about 300 watts each . It could have a total of 1900 watts of total power consumption.
For this setup, it uses 1000 watt EVGA power SuperNova to provide enough power to the video cards. Aside from those, it uses 8 GB of DDR4, Intel Celeron G3900 Skylake Dual-Core 2.8 GHz LGA 1151 and a 120 GB SSD to run everything quickly.
It also uses 6 razors to connect each video card to the PCI Express ports and invest on a new motherboard that can run all of those at the same time. It also got a mining rig case to hold everything.
After setting up the Bitcoin mining rig and installing a Bitcoin mining software, find a good hash and it can immediately earn $42, which is already a lot of money. If this amount is multiplied by 30, the monthly earnings from Bitcoin mining would be $1,260. If this continues, the annual profit from Bitcoin mining would be $15,120.
Bitcoin mining Can Be Profitable, If You Generate The Power.
Bitcoin mining at 20MW, the Team at Greenidge located in the Finger Lake Region of New York State, .

• plans to scale-up their cryptocurrency operations. This local electric company is now a blockchain hybrid business model.

The New York Finger Lake Region is known for its wine and glacial formed waterways. It is a beautiful place. And it now hosts one of the largest Bitcoin mining facilities in the U.S.
Greenidge Generation is a former coal-fired electrical power plant that has converted to natural gas. They supply electrical power to New York State's residents. Every day Greenidge has to bid in a competitive power market - sometimes, they make a profit when energy demand is higher. The company has been in business since 1937 but, in the last decade, suffered against cheaper power sources. The facility was mothballed in March 2011. Competition from cheaper shale natural gas supplies and coal exports from China put the old company into economic distress. Atlas Holdings bought the plant in 2014 and converted it to natural gas in 2017.
BROOKLYN, NEW YORK - JULY 4: Six meters placed by National Grid measure natural gas consumption in a .

• residential apartment building July 4, 2017 in Brooklyn, New York. National Grid is the fifth largest distributor of natural gas in the United States. (Photo by Robert Nickelsberg/Getty Images)

Atlas, which buys and transforms distressed industrial companies, helped turn the company into a more efficient energy model. But profits were always tight. It was in 2018 that CEO Dale Irwin and CFO Tim Rainey had the idea to use excess capacity to mine Bitcoin. This was a unique idea in the United States. Rainey says, "Cryptocurrency mining was an idea that evolved following discussions with our Board and leadership team, as we explored the best way to utilize the unique assets we have at the facility. Our Board approved a plan to pursue Bitcoin mining."
Dale Irwin said, "We started with a couple of S9's and some GPU rigs in early 2018 to familiarize ourselves with the economics of the machines and learn how to operate and run them. We turned that into a small test pilot of several hundred machines from many different manufacturers in May of 2019. After completion and analysis of the test pilot, we built the current data center within four months, starting our larger-scale mining operation in January 2020." They currently operate 8,500 of the latest generation miners from Bitmain and other manufacturers.
Greenidge is using over 20 megawatts (MW) of power to mine Bitcoin, which makes it the largest energy company in the U.S. with this kind of strategy. In comparison, 20MW is not very big, next to other countries. There are larger Bitcoin mining facilities. The University of Cambridge's Bitcoin Electricity Consumption Index shows that global power use is estimated to be 7.25 gigawatts (GW), where China uses a bit over 71% of the global total.
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Riot Blockchain, by comparison, said in their July 16th 2020 press release that their aggregate power consumption would be 12.8 megawatts.
The company purchases natural gas through forward contracts setting a threshold price. Electric power production costs will fluctuate and influence the decision to mine crypto or sell power to the gird.
Greenidge wants to increase its energy consumption. The company has plans to use the plant's total capacity of 104MW next year.
Mining Bitcoin and cryptocurrency is an energy-intensive enterprise. Some argue that it is a waste of energy and that digital assets are purely an environmental drain. One megawatt, by some estimates, could power about 800 homes on average per year. But this is a difficult statistic to estimate; electric consumption changes by region and need.
The company calls itself a power plant-mine hybrid, where it can generate more value being able to provide power to New York's grid or mine cryptocurrency. The choice to one or the other depends on what is more profitable on the day. Irwin continued to say, "Without crypto mining, it was economically unfeasible for us to provide capacity and energy to the state grid year-round and to continue providing employment opportunities to the local community, which provides the bulk of our workforce."
Rainey said, "As both the cryptocurrency markets and the power markets are constantly fluctuating, we do whichever is more profitable at any given time - either sell the generated power or mine crypto with that power. Although there is no fixed threshold of revenue from selling power that would make us want to sell the power instead of mine crypto, currently that number would be over $100 per MWh of power that we generate."
This model is unique as mining Bitcoin is not a trend in the power industry. If there are other power companies in similar situations, could this be a sustainable way to add income?
Tim Rainey said, "Without the mining operation, we would not be running most of the time, but if we ran around the clock, year-round, we would generate revenues of about $20/MWh. Bitcoin mining revenue with the latest generation hardware ranges anywhere from $70/MWh to north of $200/MWh depending on price, global hashrate and difficulty."
Time will tell, but Rainey did add, "We've been able to capture over $500k additional revenue during hours when we would not otherwise have been dispatched to be online. Additionally, we are unique in that the same highly-skilled engineers, electricians, and other technicians that are on-site running the power plant 24/7 also help operate and maintain the mining hardware."

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Bitcoin mining hardware asic.
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Bitcoin / SHA256 Miner (35)
Equihash Miner (
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ANTMINER - S19 PRO - 110TH/s - PSU INCLUDED.
SHIPPED IN 1-31 JUNE 2021.
ANTMINER - S19 - 95TH/s - PSU INCLUDED.
ANTMINER - T19 - 84TH/s - POWER SUPPLY INCLUDED.
INNOSILICON - A10 PRO - 500 MH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 14 BUSINESS DAYS.
INNOSILICON - A9++ - 140K Sol/s.
SHIPPED IN 14 BUSINESS DAYS AFTER PAYMENT RECEIVED.
INNOSILICON - A6 - 1,23GH/s.
SHIPPED IN 7 BUSINESS DAYS.
ANTMINER - Z15 - 420K Sol/S - PSU INCLUDED.
SHIPPED IN 22-30 NOVEMBER.
ANTMINER - S17e - 60TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 1-31 JULY.
ANTMINER - S17+ - 67TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 11-20 APRIL.
ANTMINER - T17+ - 55TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 21-30 APRIL.
ANTMINER - S17+ - 70TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 1-30 JUNE.
ANTMINER - S17+ - 73TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 11-20 FEBRUARY.
ANTMINER - S17 PRO - 56TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 8 BUSINESS DAYS AFTER PAYMENT RECEIVED.
ANTMINER - S17 PRO - 59TH/s - POWER SUPPLY INCLUDED.
ANTMINER - T17+ - 58TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN FEBRUARY.
INNOSILICON - G32-1800 - 328GPS.
SHIPPED IN JANUARY.
INNOSILICON - G32-500 - 100GPS.
INNOSILICON - G32 MINI - 21,5GPS.
INNOSILICON - T3+ 67T - 67TH/s - POWER SUPPLY INCLUDED.
SHIPPED IN 10 BUSINESS DAYS AFTER PAYMENT RECEIVED.
Best Bitcoin mining Hardware in 2019: Prepare For Super-Powerful ASIC Miners - Updated.
Disclaimer: The opinion expressed here is not investment advice - it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Top Bitcoin hardware manufacturers Picking the best Bitcoin mining hardware: beginner-level Avalon6 Antminer S9 Innosilicon Terminator3 Bitmain S15/ T15 Bitmain Antminer S17 Pro Ebit E11+ WhatsMiner M10 Strongu's U8 Model GMO miner B3 ASICminer 8 Nano Pro Additional accessories ASIC S9j overclocked in immersion cooling Is GPU mining dead? Mining hardware of the future.
The demand for Bitcoin mining hardware substantially dwindled in 2018 due to market woes but doesn't mean that the multi-billion dollar industry is dead. Hence, U.Today takes a closer look at the most popular ASIC miners on the market as of January 2018.
Top Bitcoin hardware manufacturers.
Bitmain remains the biggest mining manufacturer with a market share of over 75 percent. However, its controversial IPO coupled with dwindling cryptocurrency prices put a damper on the chances of this juggernaut to remain at the top of its game.
As reported by U.Today, Bitmain's IPO got scraped, and it is unclear at this point when the mining giant will go public again. Due to the crypto rout that took place in 2018, the company faced multiple layoffs, infighting between its executives and, of course, huge financial losses.
Halong Mining is a relatively new mining company that is also based in China. Notably, Halong is one of the most secretive mining companies in the crypto space given there is no information about their CEO, location or earnings, which eventually led to speculations that the company is a scam.
Canaan Inc, which also expects to rake in more than $1 bln during its IPO, is yet another Chinese mining giant on the block.
Moving away from the armada of Chinese mining giants, it's also worth mentioning BitFury (mining hardware and chips) that is based in the US.
Picking the best Bitcoin mining hardware: beginner-level.
Canaan's Avalon6 is a good entry point for those who are only making baby steps in the cryptocurrency industry. Here, we are dealing with one of the cheapest ASIC miners out there, which is rather simple to use on top of that. However, keep in mind that it only offers 3.5 TH/s of hash rate.
In the US, the average cost of electricity currently stands at 12 cents. Considering this, you would get a $1.68 daily loss.
Antminer S9 is yet another Bitcoin miner that belongs in the 'O.G' crowd - this miner has long remained Bitmain's flagship product that became ubiquitous in the crypto space. With a hash rate of about 12.93 TH/s, it also remains one of the most powerful miners out there, and one can say that S9 is truly the gold standard in today's crypto space without any flowery.
When money is not an issue Dragonmint 16T.
Dragonmint 16T is the ambitious project that is supposed to disrupt Bitmain's hegemony. At one point, that was one of the most powerful miners out there, boasting a staggering 16 TH/s hashing power. Halong Mining reportedly forked out $30 mln in order to produce this miner.
Innosilicon Terminator3.
Prepare for a monstrous hashrate with Innosilicon T3, the miner that definitely lives up to its 'Terminator' name. Apart from wowing miners with 43 TH/s, this ASIC, developed by Bitmain's competitor Innosilicon, also strives to become the most efficient and, subsequently, the most profitable miner out there.
Innosilicon Terminator3 is currently available for pre-order, which kicked off on Nov. Nov 11 with the minimum order quantity standing at three units (you will have to fork out $2279 for each). The first release of Innosilicon T3 is scheduled for January 2019.
In addition, you can also check out Innosilicon A9 ZMaster, which rivals Antminer Z9, one of the latest ASIC miners from Bitmain that is designed for Equihash-based currencies.
Bitmain S15/ T15.
Forget about Antiminer S9 - there are already more powerful miners in the Bitmain town. Give that a lot of competitors are already breathing down Bitmain's neck, it didn't take this mining giant too long to come up with its own next-generation 7nm miner - Bitmain S15, yet another gem in Bitmain's crown.
Earlier, Jihan Wu, the co-founder of Bitmain, gave a lecture in September where he claimed that the brand-new ASIC chip would be able to integrate more than a billion transistors with a 'special circuit structure' that could help the miner to reach the maximum level of efficiency.
Bitmain Antminer S17 Pro.
Bitmain presented its new flagship miner Antminer S17 Pro back in February. The first batch is expected to be shipped in May. The state-of-the-art miner is able to achieve a hashrate of 40 TH/s, thus greatly outperforming previous-generation miners. The miner is a cost-effective definitely a cost-effective solution given that its price on the official website is set at $1,270.
At the time of writing, it appears that all units have been sold out. Bitmain also bets on the cloud mining niche, so it kept some of its new machines in order to rent out hash power to its customers.

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So is Bitcoin mining worth it in May 2019?
Ebit E11+
Ebang's E11+ is a more advanced successor of E10. With the hash rate of around 37 TH/s, Ebit E11+ stands out as one of the most powerful ASIC-miners out there, only lagging behind Innosilicon. It is worth mentioning that major currencies (Bitcoin, Bitcoin Cash), as well as some little-known altcoins (ACOIN, DEM), can be mined with this hardware.
WhatsMiner M10.
WhatsMiner M10 is an upstart on the block that became known to the world on Dec. 20. The plug-and-play Bitcoin miner offers a seamless mining experience with a 33 TH/s hashrate. The miner will set you back $1,475.
However, Pangolin, a brand-new mining producer, also has a true beast up its sleeve - Whatsminer DCR. The behemoth of a miner, which you can currently buy for eye-popping $4,490, offers 48 TH/s, easily making Whatsminer DCR the most powerful miner on the market. Batch 2 ship date is scheduled for Jan. 10.
MicroBT Whatsminer M20S, whose release is slated for August 2019, is currently the most profitable ASIC miner for mining SHA-256 coins. This monstrous miner with the hashrate of 70Th/s will set you back $2,349.
Strongu's U8 Model.
Strongu's U8 Model is also one of the next-generation models, but the good part is that it won't empty your pockets. StrongU is a little-known Chinese manufacturer that is competing with its bigger rivals, such as Bitmain and Halong Mining, which explains why Strongu's U8 Model, which offers an impressive hashrate of 46TH/s will only set you back $1,520 per unit.
The machine is a bit noisy (76dB), but that not such a big of a downside if to consider that Strongu's U8 Model is one of the very few profitable ASIC on the market.
This ASIC miner is already available for a pre-order. The first batch is expected to be shipped in July 2019.
GMO miner B3.
GMO miner B3 is one more representative of the batch of future ASIC miners. It lags behind Innosilicon T3 in terms of maximum hashing power (B3 supplies you with 33 TH/s). Still, these miners are pretty much on par in terms of mining efficiency given that B3 has a lower level of power consumption.
However, the Japanese mining behemoth recently made an announcement about shutting down its cryptocurrency sector due to falling cryptocurrency prices. GMO will continue its in-house mining business but it will stop selling its mining hardware. All miners are currently sold-out.
GMO miner B3 by gmominer.
ASICminer 8 Nano Pro.
This ASIC was introduced last year. The miner offers an eye-popping 76 Th/s. In fact, this is the second most powerful Bitcoin miner after Bitfury Tardis that is able to produce 80 Th/s.
However, this mining juggernaut has an even more impressive price tag - $11,600. Hence, you will hardly find any reviews of this machine or resellers. Nobody is willing to spend that much on mining hardware.
If to consider the current price of Bitcoin, it would take you more than a year to turn a profit.
Additional accessories.
Apart from the miner itself, you have to buy additional devices:
A power supply unit (PSU).
A mining rig if you want to buy a couple of ASIC miners.
A cooling system (although, some miners, such as Bitmain's new water-cooled Antminer S9 Hydro, already have inbuilt cooling solutions).
Internet bandwidth. It is commonly known that Bitcoin doesn't require much bandwidth but mining rigs with a higher hash-rate will require a faster Internet connection.
Your computer. Just like in case with Internet supply, your computer is not of great importance given that your ASIC is used for computer power. Even Opteron won't outperform a batch of S7 miners.
ASIC S9j overclocked in immersion cooling.
If comparing new air-cooled ASIC models with the old ones, but overclocked in immersion cooling, second ones appear to be a more profitable solution. For instance, if you still have flagship products from Bitmain, such as Antminer S9j, you can improve them with immersion cooling.
Installation for 24 ASICs combined with new APW 7 power supply units provides a 40% increase in performance and pays off in about 7 months at electricity rates of 0.05$ per kW/h and a bitcoin rate of 5,200$ (against 10-12 months when buying stock Bitmain Antminer S15 or Ebang E11++). And if considering a freebee outlet, installation for 24 ASICs with new power supplies will pay off in just over 2 months against 8 for S15 and 8.8 for Ebang E11++. It's impossible to achieve the same overclocking results using a standard air cooling because it grants an uneven environment and doesn't "keep" the specified performance in a stable range.
Is GPU mining dead?
GPU mining remains in the doldrums as of now, giving gamers a major cause for celebration. The ASIC monopoly has taken over GPU mining, putting an end to a democratized mining space. That explains why Nvidia and AMD have already left the market. Speaking of popular GPU choices, we still have to point out Nvidia GeForce GTX 1070 and AMD Radeon RX580 as the most profitable graphic mining cards. Moreover, you can currently purchase these at a super-cheap price as the mining difficulty continues to drop.
CPU mining hasn't been a thing since 2010. To put this into perspective, Antminer S9 has 1800 processing chips while high-end PCs only have eight corers.
Generally speaking, there have been three generations of Bitcoin miners:
Mining hardware of the future.
Having covered the mining hardware of the past, we are now getting down to the mining hardware of the future. Back in May, it was revealed that a lot of secret ASIC were built for Monero, making up almost half of the coin's total hash rate. There are still superpowerful ASIC miners in the likes of ASICminer Zeon 180K that generate huge profits.
While there are miners with monstrous hashrate (and most probably many 'secret' ASIC chips in the offing), there is one thing that becomes clear - crypto mining of future will be getting more and more centralized, but the expansion ASIC equipment could democratize this market.
Bitmain Technologies Ltd., or Bitmain , is a privately owned company headquartered in Beijing, China that designs application-specific integrated circuit (ASIC.
MicroBT was founded by Zuoxing Yang in 2016, a month after he left Bitmain in a compensation dispute. Yang had been a top designer of Bitmain's Antminer S9.
PLUG & PLAY Bitcoin mining.
START MINING BITCOIN OR BITCOIN CASH IMMEDIATELY.
Innosilicon is a world-class, innovative, fabless IP/IC design company focusing on high-performance PHYs and mixed-signal IP. With multi-national world-class design teams in China and North America, Innosilicon IP has helped many Tier-one companies to achieve rapid SoC success (over 30 million chips in annual production)
A group of elites and talentsat home and abroad in fields of high-end chips and intelligent algorithm research, leads the development frontier of blockchain and cloud computing industry, focusing on the development of high-performance computing chips.
As a world-leading supercomputing solution provider, Canaan focuses its business on blockchain and AI.
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StrongU Technology Ltd. offers a wide range of ASIC Miners including the STU-U6, STU-U8 and STU-U1 StrongU Tech is the official manufacturer of all StrongU miner products, StrongU tech ASIC miners are leading X11, SHA-256 and Blake256R14 algorithms.
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[Bitcoin]

Best Mobile Mining Apps|11:11

[Bitcoin]

World's Leading X11 ASIC Miner.
Designed with many self-diagnosing, self-recovery, and automatic email warning capabilities to make your mining life easier.
Spondoolies is a crypto-currency mining gear company. First and foremost, we focus on enabling crypto-currencies to flourish. Crypto-currency mining is the future.
Is Solar-Powered Cryptocurrency Mining the Next Big Thing?
Cryptocurrency mining is a difficult and costly activity. Miners must pay to build rigs capable of vast amounts of processing power, and then the rigs themselves must be powered with large quantities of electricity. It's all a careful balance between how much the operation costs and how much profit it is able to generate. (See also: What Happens to Bitcoin After All 21 Million are Mined? )
With mining operations for Ethereum, one of the leading digital currencies on the market today, taking up the same share of electricity as that of a small country, miners have to be careful that they aren't spending more than they are making. Because of that, some mining operations have begun to look to solar-powered rigs, set up in the desert, in order to reduce mining costs and make the largest profit possible. (See also: Chinese Investment in Bitcoin mining is Enormous .)
Solar Panels Provide Inexpensive Power.
Mining operations with the tools and resources to be able to set up solar-powered rigs in the desert are finding that it is a good investment. Once you have paid for the solar panel system itself, the cost of mining is virtually free. Getting rid of a hefty electric bill which typically weighs down mining operations leaves more room for profit.
The Merkle recently documented a mining operation focused on Bitcoin in this manner. The setup has been running successfully for almost a year and currently uses 25 separate computing rigs. The process has been so profitable, in fact, that the miner running the operation plans to increase the number of computers to 1,000 this fall.
In the case of this particular desert miner, the individual mining rigs cost about $8,000. This cost has included all solar panels, power controls, batteries, and the Antminer S9 ASIC processor. When fully operational, each miner brings in a profit of about $18 per day.
Balance Between Mining Costs and Crypto Prices.
Of course, a cheap mining operation is only part of the equation. In order for miners to make a tidy profit, the price of the cryptocurrencies they are generating must remain high.
In the case of the mining operation in question, Merkle suggests that Bitcoin prices must stay above $2,000 in order for the operation to be profitable. Considering that the price of most cryptocurrencies is highly volatile, and that drops of 205 or more have occurred in many individual days, this keeps a certain element of risk present in any mining operation.
It seems likely that more and more miners will turn to areas in which renewable energy is easily accessed. Iceland has already become a popular destination for Bitcoin miners thanks to its fast, virtually limitless internet. Miners looking to move to the desert should be cautious for other reasons, though: mining in the heat can cause rigs to break down more easily.
Solar-Powered Bitcoin mining Could Be a Very Profitable Business Model.
Tam Hunt outlines the compelling economics for using solar to supply Bitcoin mining operations.
Bitcoin and other cryptocurrencies are now a major business, with the global market capitalization of these coins exceeding $170 billion at their recent peak, according to Coin Market Cap.
Bitcoin alone has reached over $70 billion in value, up from nothing when it was created just eight years ago.
A major issue with Bitcoin, which may eventually undermine success unless it is remedied, is the massive amount of power required for "mining" of the coins.
The mining metaphor is apt because bitcoins are created through specialized computers looking for the correct codes (hash keys), just like digging for gold. That electronic digging takes more and more power as more and more people dig for that virtual gold. Sebastian Deetman calculated in 2016 that mining would require as much electricity by 2020 as the entire nation of Denmark currently consumes.
That's just the beginning. Bitcoin's algorithm requires that it get more and more difficult over time to mine, as long as mining itself becomes increasingly popular. With an approximately 132-year discovery cycle to mine all 21 million bitcoins, mining power demand will go up exponentially.
So what to do if we care about the power of blockchain and cryptocurrency as well as protecting our climate and our environment?
Well, one thing we can do is consider the potential for environmentally friendly power for mining.
I'll look at solar power's potential for Bitcoin mining in this piece. I conclude that it can be both very profitable and far better for the environment than some other options.
I first considered combining solar power with Bitcoin mining due to my work in solar power development and my recognition of how difficult it can be to obtain a power sales contract. There are many difficult aspects of solar power development, but obtaining the sales contract is now generally the most difficult part of the process, largely because there are so many market participants chasing too few contracts.
Mining Bitcoin is one way to obtain significant revenue -- potentially far greater revenue than under normal power sales contracts to the grid -- without needing any sales contract at all.
Bitcoin mining profitability is determined by the cost of electricity more than any other factor. So if solar power is cheaper than buying grid power, it can make sense to combine on-site solar power with mining operations.
To date, I am not aware of any significant mining operations using low-cost solar power at scale. Genesis Mining, a "cloud mining" operation, and some other mining operators use geothermal power in Iceland, which is cheap and sustainable. But this resource is far more geographically limited than solar power, which can be and is being developed all around the world.
The bottom line is that solar-powered Bitcoin mining operations can be highly profitable and enjoy payback times as short as a year or two. After that, Bitcoin revenue comes with almost zero ongoing costs for another 25 years or more for solar farms -- though the mining machines will need to be upgraded periodically.
There are also opportunities for obtaining very low-cost grid power, or even negatively-priced power, to increase the profitability of solar mining operations.
If a large share of future mining operations use solar power, geothermal power, hydro power, biomass or wind power, the massive power demands of mining and their consequent environmental impacts could be largely mitigated.
Low-cost and negative-priced grid power.
Some markets in the U.S. are increasingly paying businesses to take excess grid power. Under a negative-pricing scenario, the grid is receiving too much power and the grid operator must either temporarily shut down (curtail) some power plants or pay electric customers to take the excess power and avoid curtailment.
Negative pricing can be caused by various factors, but it is increasingly due to renewable energy sources like solar and wind power. California, for example, is seeing increasing durations of negative pricing during the day when solar production occurs. The figure below shows the daily grid electricity demand curve, with demand plummeting during the day when a large amount of solar power is produced from existing solar plants around the state.
Negative pricing happens because California's grid generation assets can't all be turned down or off as solar production ramps up. Some baseload must run all the time. And as solar plants come on-line in amounts that exceed the baseload generation plus the solar power, some power must be curtailed or sold at negative prices. As the duck's "belly" gets fatter (lower in the chart) there will be more and more negative-priced power.
Texas has also seen negative pricing periods for a number of years, prompted by excess wind power on the grid.
Given the strong focus on renewable energy in a number of states, it is all but certain that times of negative pricing are going to increase in the coming years.
Bitcoin mining began as an activity that could be done on personal computers, but quickly morphed into a high-powered affair requiring specialized chips and large amounts of electricity. This trend is continuing and, as mentioned above, the cost of electricity is now easily the largest factor in determining mining profitability.
By forecasting where we can expect substantial negative pricing of power in various markets around the country, smart investors can set up large-scale mining operations in those jurisdictions -- getting paid to take negatively priced power while mining a financial resource that is very likely to appreciate significantly in value over time. The price of Bitcoin recently hit $5,000. It is currently at about $4,100, up from under $1,000 at the start of the year.
In sum, by taking advantage of negative pricing in markets that are implementing high amounts of excess renewable energy, Bitcoin mining operators can earn additional revenue from the grid operator by taking that power, which is revenue over and above the revenue from selling mined bitcoins. (For the uninitiated: "Bitcoin" with an uppercase B is the technology and platform, whereas "bitcoin" with a lowercase b refers to actual bitcoins.)
There are, accordingly, two significant revenue streams available in this model: 1) taking negative-priced power, which earns up to 2 cents per kilowatt-hour currently, but may become even more valuable in the coming years; 2) using that power to mine bitcoins, which can return 25-50 cents per kilowatt-hour -- or even more if the price of Bitcoin continues to rise.
Solar power for Bitcoin mining.
It can make good financial sense to use solar power to mine Bitcoin. Solar plants can provide power that is cheaper than grid power in areas with good insolation and low construction costs. The price of power is also known with some certainty over time because there are no fuel costs and thus no volatility.
A 1-megawatt solar project could provide power over the 25-year life of the project at about 5 cents per kilowatt-hour or less (substantially less than the approximate 10 cents per kilowatt-hour of industrial grid power in California). Power-purchase contracts may also be available for solar power of this size in California as a backup source of revenue generation. A contract must be obtained that allows power to be used onsite first and any excess remaining to be sold to the grid. I discuss this further below.

[Bitcoin]

MAKE $700 BY MINING BITCOINS ON YOUR PC AND SMARTPHONE IN 2020!! (PROOF!)|8:36

[Bitcoin]

In the chart below, I look at the numbers behind a solar Bitcoin mine powered by a 1-megawatt PV system. The mine uses grid power when solar power is not available. It also assumes a constant $2,500/Bitcoin value. (This is about half the current price; I've also assumed that the price adjusts higher to maintain a constant reward as the blocks halve every four years, which has been the case so far; I also assume amortization of the full cost of new mining machines over each four-year period as machines get more efficient and need to be replaced.)
The right column contains all year-one costs and revenue, except for the last two cells that contain the 20-year net revenue and net present value.
Source: Tam Hunt.
This financial model does not rely on any negatively priced power, because the above results are already highly favorable. It's an added bonus if the grid power costs are lower due to periods of negatively priced power.
This is a conservative model in another key way: I've assumed a $2,500 Bitcoin price, but used the current mining difficulty level. (I used the CoinWarz Bitcoin profitability calculator, which is not entirely realistic. This is because there has been a 95 percent correlation between Bitcoin price and mining difficulty over the last two years. This means that if the current price were to drop to $2,500, the mining difficulty would also drop, and our 1-megawatt mining farm would produce significantly more than the 789 bitcoin per year included in the chart above.)
What does this mean? This 1-megawatt solar mining farm will probably be more profitable than what I've calculated here.
How does this compare to a solar-only model? The net present value for a 1-megawatt solar project would be about $200,000 to $400,000 for a project with a good power sales contract and low costs of development. A net present value of $9.3 million for the solar-plus-Bitcoin alternative is a good improvement.
If the mined Bitcoin are held long-term rather than being converted to dollars or other currency, there's a good chance this revenue will increase even further (by additional multiples) as the price of Bitcoin continues to increase in the coming decades.
Another benefit of the renewable energy mining model is that the renewable energy tax benefits can be absorbed with tax liability from the sale of Bitcoin (all or partial sales as they're mined), eliminating the need for outside equity investors to absorb the tax benefits, as is often the case with standalone solar or wind power operations.
Off-grid mining operations?
This development model can also be pursued in areas that have no power lines and very cheap land. No grid connection is required to do the mining. Under this scenario, the miners are connected to the internet via a satellite connection, but otherwise the entire project is off-grid. All solar power is used for mining. This kind of facility could also include onsite storage to both smooth production and to extend mining operations beyond daylight hours.
Being off-grid prevents using grid power to supplement the solar mining, but such a project could be built very easily and quickly. For example, Texas counties have no permit requirements for this kind of project, so it would be as easy as buying land, contracting to build the solar and mining facilities, and then commencing operation. Revenue is lower for the off-grid option, but still very profitable.
The backup plan: Selling power to the grid.
What happens if the price of Bitcoin collapses entirely, leaving minimal or no profit from Bitcoin mining? This is an unlikely event given the growth of Bitcoin over the last eight years (Bitcoin's market cap is about $68 billion as of this writing, up from zero in 2009), but it is nevertheless prudent to consider an alternative revenue stream to Bitcoin mining.
A less risky (but more complex) scenario is to construct a solar farm with the local utility as the backup power offtaker, but preserving the ability to use power onsite to mine Bitcoin. This is the excess sales arrangement mentioned above.
A 1-megawatt solar farm can obtain a power sales contract in California and other states. But the project must, of course, first be connected to the grid and go through the application or bidding process to obtain a power sales contract. This adds cost, time and complexity. And there's no guarantee of winning a contract. However, obtaining a backup grid sales contract substantially reduces the risk of the pure Bitcoin mining approach.
This approach allows the farm owner to use as much power as they like to mine Bitcoin instead of sending it to the grid. So if the profit is higher in mining, they'd engage in mining, and if selling the power to the grid is more profitable, they'd do that instead.
The solar-plus-Bitcoin operation pays for itself in about two years, adding another level of insurance. Accordingly, the risk of losing the investment is mitigated and completely eliminated relatively quickly. Once the project costs are paid back, there is minimal risk remaining.
Tam Hunt is a lawyer and owner of Community Renewable Solutions LLC, a renewable energy project development and policy advocacy firm based in Santa Barbara, California and Hilo, Hawaii, co-founder of Solar Trains LLC, and author of the new book, Solar: Why Our Energy Future Is So Bright.
Profitable Bitcoin mining in 2019 - solar powered mining.
The Bitcoin paradox.
The storyline which Bitcoin utilizes as much power as a country yearly is nearly as exhausted as"tulip-mania" or contrasts into this"dot-com bubble" at this stage. Yes, even if Bitcoin system is power-hungry but hardly tells a complete picture of its ecological effect.
Success stories.
Around the planet, there are cases of Bitcoin miners coming up with innovative methods to get more from their mining components; if through recycling extra energy or trapping them using off-grid renewable energy sources.
As demonstrated by an article in the Bitcoin subreddit, 1 Bitcoin miner was able to turn to solar energy in light of their dwindling sustainability of mining to get Bitcoin through the deep market. The first poster, Candese, says not only will be solar power harnessed through panels that the cheapest type of electricity available for them, but also the savings made on taxation and by not having to move electricity in the grid are predicted to be up to 75%.
These economies have really produced the set of S9 Antminer components rewarding to operate, despite falling costs and those being dated Bitcoin mining gear.
The illustration of Candese's solar powered Bitcoin mine using recycled heating energy isn't the very first of an Bitcoin mining operator experimenting with the concept of putting surplus energy out of the high-power computer processors to use everywhere.
Secondary uses of bitcoin miners.
In 2017, we have reported a set of n entrepreneurs that were able to make a heating system at a Siberian warehouse powered by Bitcoin miners that, in the moment, was producing profits of $430 monthly. The property uses inexpensive hydroelectric energy and, provided that the climate of its place, the heat generated in the components is much-needed through the 2 months every year which fundamental heaters are still an absolute-must.
In the same way, there was also the narrative of this Czech entrepreneur who desired to expand the tomato growing venture by utilizing energy out of his mining operation to warm his harvest.
At length, the falling of cryptocurrency costs throughout the continuing bear market has compelled large scale miners to tackle their particular energy intake. It has pushed many to research renewable energy energy sources, instead of rely on energy made by fossil fuels. Cases of mining moving into small industrial cities in elements of Canada famous because of their abundant cheap hydroelectric energy series a very clear push towards greater efficiency within a business criticised because of the assumed wastefulness.
On the other side, a Romanian mining company uses green energy in order to power a cryptocurrency mining colocation datacenter in europe.

[Bitcoin]

MAKE $1,770 By Mining Bitcoin on Your PC/SMARTPHONE IN 2020!! (PROOF)|8:41

[Bitcoin]

Is mining Bitcoin profitable with Solar Power?
Solar Hash Hub® Official Blog.
Aug 7, 2018 · 4 min read.
The crypto revolution isn't about to fail despite the prices of Bitcoin and other currencies being unstable in the past year -- spectacular surges are followed by downhill plummeting speed courses. However, the digital money has some significant issues to solve and one of the major is probably the high demand of power to sustain an effective mining process of BTC or other alt-coins. The Ethereum-based tokens recently have been designed to operate on a much lower electrical consumption. But the problem with the Bitcoin and the forks of the leading crypto on the market stays on.
Bef o re asking if mining Bitcoin is profitable with Solar Power, let's make it clear is it purposed to serve an individual user or a company. It's all different for the home miners and small enterprises on one side and for the large production entities on the other. If the case is to mine coins at your garage using the solar panels to power the process you need to calculate the cost of the equipment.
Make sure you're living in a sunny place.
Before you start to calculate does it make sense to invest money in solar panels, check the weather statistics for the location you are about to place it. The more sunny days, the better it will work out -- not only in terms of Bitcoin mining but also for cooking, heating, powering the fridge, the TV, the PC, lamps, etc. What surface do you need for the solar panels? One square meter produces about 200 W per hour in favorable conditions and a basic mining rig demands at least 400-500 W. But if you are looking for profit than you will need more GPUs so the minimum consumption goes over 1000 W or even more.
What amount of money do you need to invest?
Taking into the account that there will be cloudy days from time to time it is better to equip your mining facility with 8-10 m2 of solar panels. So this equipment cost will be in the range of $3000-4000 . An ASIC mining system price depending on of the number of the CPUs involved will not be found on the market at a retail price below 5000 USD but it is more likely to cost 10 grand. Yes, there are stories about some Chinese ASICs available at the factory for just 1K but let's stick to the realistic scenario.
So, the initial investment in solar panels and mining equipment will require a 5-figure expense or at best -- the highest of the 4-figures range. What time will you need to return the investment? Well, if it is about the Bitcoin mining it is really hard to predict precisely. The most optimistic case shared by a miner situated in the Southwest desert of the United States (yeah, there is a lot of sun there) -- making as high as 0.007 BTC for a day, or about 50-55 dollars (in the moment of writing when Bitcoin exchanged for 8 000 dollars), means that in a matter of 6 to 8 months you might have a full return on investment. Not bad, uh? Well, have in mind that mining becomes harder in time and you need more and more power to produce coins so it will not take that easy.
The ROI (Return on Investment) will be more likely positive.
But anyway, the overall picture shows that mining Bitcoin with solar power even home-based might be profitable. Even if BTC future faces some roadblocks and the minting process doesn't go so well, you will still have the panels. And this equipment produces electricity off the grid so the crypto mining isn't linked with mind-blowing bills to pay. This is probably the best part of the deal. Yes, you need to spend a significant amount of money for a household but operated and maintained properly it might return a lot more.
So this is only about the small-scale Bitcoin mining. The industrial level of minting the crypto using the sun is a different story and it has much more complications to it. But also much more opportunities. If you trust Captain Kirk from the original Star Trek series the combination of renewable energy and cryptocurrency production is a marriage made in heaven. The famous actor William Shatner is among the proponents of the idea -- the guy is pretty old and might not be the perfect mining expert but he is still highly energetic as he has always been to jump into another adventure.
Watts Up With That?
The world's most viewed site on global warming and climate change.
Solar Powered Bitcoin mining: Fake power for fake mining of fake gold?
Guest "you gotta be kidding me" by David Middleton.

[Bitcoin]

TAM HUNT SEPTEMBER 11, 2017.
The bottom line is that solar-powered Bitcoin mining operations can be highly profitable and enjoy payback times as short as a year or two. After that, Bitcoin revenue comes with almost zero ongoing costs for another 25 years or more for solar farms -- though the mining machines will need to be upgraded periodically.
" The mining metaphor is apt because bitcoins are created through specialized computers looking for the correct codes (hash keys), just like digging for gold. That electronic digging takes more and more power as more and more people dig for that virtual gold. "
OK... So let's assume we did some solar powered Bitcoin mining and struck the mother lode of "virtual gold." Do we take the virtual ore to a virtual assayer?
How to Use Bitcoin for Purchases Bitcoin can be an investment, but it's also a currency. And a store that accepts bitcoin payments may be closer to you than you think.
Where Online Can I Buy With Bitcoin?
Do the proper research on whether a company is currently allowing for bitcoin use, as some may have integrated it at one point but may not be using it at the moment. Steam, Valve's video game distributing platform, stopped allowing bitcoin payments in December 2017, citing the volatility but admitting they may come back to it. Dell claimed it was a lack of interest that led it to stop accepting bitcoin in November 2017. But there are plenty of other places that continue to allow you to pay with bitcoins.
What can you buy with bitcoin online? Depending on the retailer you choose, quite a bit. Overstock.com (OSTK - Get Report) has more of an investment in it than anyone, using it to develop their own blockchain. Those looking for basic retail goods (apparel, furniture, home décor, etc.) can shop on Overstock, check out, and use the option to pay with bitcoin.
Electronics retailer Newegg has also been a big proponent of bitcoin. Computers, televisions, gaming consoles and more can be purchased with bitcoins on Newegg, with separate methods of payment depending on whether you are on mobile or desktop.
Maybe I'm just being a grouchy old geologist, but does any of the above justify Bitcoin mining? Much less solar powered Bitcoin mining? Most people get jobs and use their income to purchase crap online.
Then there's this...
Bitcoin can also be used in some cases to make donations. Want to donate to Wikipedia? You can do it anytime and they connect with Coinbase to allow for bitcoin transfers.
There are many other websites that currently allow for bitcoin too, including but not limited to:
OKCupid (dating site) CheapAir (travel/hotel booking agency) PizzaForCoins (pizza delivery) Zynga (Mobile apps/games) Etsy (e-commerce, some Etsy sellers accept bitcoin as payment)
I wouldn't donate real money to Wikipedia... I certainly wouldn't pay real money to set up a fake mining operation to fund fake money donations to Wikipedia.
What else could I use the virtual ore for?
How to Use Bitcoin at Stores.
Bitcoin still hasn't hit a point yet where it's a common method of payment at your average retail outlet. We're not sure if or when it would reach a level of ubiquity even 1% close to the dollar. But whether as a novelty or because the owners truly believe it's the wave of the future, there are some places out there that you can physically go to and pay with bitcoin.
I guess dropping a wad of Bitcoin at the mall is out there in the distant future when fleets of autonomous ride-share EV's have replaced personal automobiles... Does Uber take Bitcoin? You can apparently purchase Uber gift cards online with Bitcoin. I just use my AmEx card and skip the whole fake mining bit.
Does Bitcoin serve any purpose?
Bitcoin: Does It Have a Place in Your Portfolio? By Schwab Newsroom.
Bitcoin continues to be a hot topic. Prices for the digital currency rose by more than 1,000% in 2017, but are down more than 49% so far in 2018. In December 2017, Bitcoin futures started trading on two major U.S. exchanges.
This has left some investors wondering: What's the big deal with Bitcoin? How risky is it, and is it something I should consider for my own portfolio? Here are some facts:
Bitcoin is a digital currency--or "cryptocurrency"--that allows online payments to be made directly from one party to another through a worldwide digital payment network, without the need for a central third-party intermediary such as a bank.
Why is Bitcoin's price so volatile?
As of April 11, 2018, the price of a single Bitcoin was about $6,900 and people around the world held approximately $117 billion in Bitcoins.¹ At this price level that exceeds the market capitalization of such bellwether companies as Nike, American Express and Caterpillar. It is relatively small, however, compared with the $6 trillion value of all outstanding gold bullion, and the market capitalization of $23 trillion for the stocks in the S&P 500 ® index.
"Because Bitcoin is limited to 21 million coins, and an estimated four million have already been lost, there is a large demand and a relatively small supply. Typically, that is a recipe for high volatility," says Randy Frederick, Vice President of Trading and Derivatives at Schwab.
"Since two major futures exchanges began listing contracts on Bitcoin in December 2017, price declines may be partially attributed to greater price discovery, due to the ability to sell short in the futures markets," Randy says. "Plenty of speculators, however, continue to buy Bitcoin due to the fear of missing out on something that has provided large profits--but also high risk--to many buyers."
Know the risks.
"Bitcoin's dramatic rise and fall has been driven primarily by supply and demand, not valuations," Randy says. "Bitcoin doesn't have earnings or revenues. It doesn't have a price-to-earnings ratio, price-to-sales ratio or book value. Traditional value metrics simply don't apply, so there are no current methods for assessing its value."
With a price gain of more than 4,000% in a little more than two years, Bitcoin was definitely in a bubble by most definitions, Randy says. And while the price has fallen more than 63% since the highs reached in mid-December, it is still up more than 80% over the past 12 months, so it's important for investors to understand that investing in Bitcoin is extremely risky, he says.
Risks include:
Financial loss: Bitcoin prices historically have been highly volatile, and fluctuations could result in significant losses for investors.
Fraud and cybercrime: These already have occurred. For example, in 2011, Japan-based Mt. Gox, then the largest Bitcoin exchange, experienced a security breach in which 850,000 Bitcoins worth approximately $450 million were stolen. In November 2017, a cryptocurrency called Tether reported a $31 million theft.
Theft or loss: A login ID and password is usually needed to access the exchange, so if that is forgotten, lost or stolen by a hacker or phishing scam, access could be denied or lost. Online purchases still require a link to a bank account and/or a credit card. While Bitcoins can be stored in physical wallets so they can be spent without a computer, this creates the same risks as with all cash currencies: They could be lost, stolen or destroyed by accident.
Computer outage or cyberattack: Bitcoin exchanges have been subject to computer outages caused by excessive demand or other problems. Also, because ledgers and most holdings are held on the internet, a large-scale cyberattack could limit access during times of national emergency, something that would not happen with physical cash or gold.
Lack of regulation: Trading in Bitcoin and other cryptocurrencies is largely unregulated. Washington has been devoting more resources to monitoring digital currencies, but regulators have not reached a consistent or universal stance.
"Bitcoin doesn't fit within accepted asset allocation models, as it is neither a commodity nor currency in the traditional sense," Randy says. "Virtual currencies are highly volatile and still lack many of the regulations and consumer protections that legal-tender currencies have. Due to the high level of risk, investors should view Bitcoin as a purely speculative instrument that should only be traded with money that they can afford to lose."
Bitcoin is like gold and crude oil, except that it serves no physical purpose. Bitcoin is like a credit card that isn't widely accepted... But you can leave home without it. Bitcoin is just like cash... at less than 1% of stores. Bitcoin isn't an investment. It's a "purely speculative instrument that should only be traded with money that [suckers] can afford to lose." Sounds like Powerball to me.
But... The folks at Green Tech Media are convinced that spending real money on solar power installations for the purpose of fake mining for fake gold "can be highly profitable and enjoy payback times as short as a year or two" .
On top of all of that...

[Bitcoin]

NICEHASH Miner APP - COMPLETE GUIDE!|7:37