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Bitcoin Cloud Mining

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Bitcoin Cloud Mining

With Bitcoin cloud mining, you can get new bitcoins without the need for Bitcoin mining hardware or without mining knowledge, because the mining world allows you to not only have technical ideas, but to attract a much larger audience without knowledge. technicality in relation to Bitcoin mining.

Bitcoin beginners have certainly taken the affordable approach to Bitcoin cloud mining, so what’s the difference between Bitcoin mining and cloud mining?

Bitcoin arrives at a hardware mining site. For Bitcoin miners, the user buys, installs and maintains Bitcoin mining platforms because they are not weak, but they also generate significant electricity costs, because mining systems require extensive ventilation and cooling, not 24-hour mining. .

Cloud processing is supported by mining companies that set up a mining platform at their facilities to register and purchase cloud storage stocks or a mining contract. The user does not need to do anything, all the work is done by the mining company and the skyscrapers comment on them regularly. The user purchases part of the hash power of Bitcoin miners.

One of the main problems with cloud mining is fraud, but there are many allegations of fraud, falling profits and even mining companies that can be closed if Bitcoin falls below a certain level. So be careful. and take some basic steps to reduce the risk of fraud, including:

No address and / or group selected by the user.
The ASIC provider is not certified. Unless an ASIC provider has a notification, the mining company may not even have hardware.
There are no photos of the mining hardware or data center.
There are no sales restrictions or quantities of hash sold compared to the hash used in mining.
Referral program and social network. Miners that are willing to pay high transportation costs should be able to pay because it could be a Ponzi scheme.
An anonymous operator should be avoided …
There is no way to sell your job or make money.
Bitcoin mining hardware
Mining equipment has changed since the beginning of Bitcoin, when it was introduced with Bitcoin processors. As miners continued to use their technical resources to exploit much larger amounts of Bitcoins and develop hardware capable of using processors and laptops, today laptops are unlikely to have the only Bitcoin, even if it has been running for years. .

Processors were replaced by graphics processors (GPUs), as miners realized that it is much more efficient to use high-quality graphics cards to extract Bitcoin. Using GPUs, the resolution has been increased 100 times, resulting in much lower energy consumption and savings on large electricity bills.

Next is the FPGA, programmable Aray Gateway, where power consumption has improved instead of download speed, where download speed is slower than GPUs, but power consumption is reduced. Up to 5x.

The energy savings led to the development of the existing Bitcoin mining company and industry, where some mines control the power of Bitcoin mining, known as the Bitcoin Cartel. .

Since the FPGA, the mining community has moved to an application-specific integrated circuit (ASIC), where ASIC is an exclusive mining chip, with no other functionality.

Although the ASIC chip has a single function, it offers 100 times more hash than the processor and consumes much less power than GPUs and FPGAs.

Software development has slowed down – there is currently nothing on the market or development to replace ASIC, small changes are being made to test the best efficiency of ASIC chips, even if it is only a matter of time. Before the Bitcoin world became something new and faster than what the miners had achieved

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