Is the bitcoin mining being really profitable? Some of this technology users say yes, it is profitable. Whereas, bitcoin mining is a difficult task while you are competing against Chinese miners. As the year 2016 was the best for mining described by the stakeholders. While mining of the bitcoin become difficult after a second halving event. Whereas, reward on mining of one block decline from 25 to 12.5 BTC.
You need more efficient mining hardware if you want to compete and continue with bitcoin mining process. Few of the mining hardware are given below,
Ant miner S5
This is the cheapest miner often known as the entry-level miner. Users of this device are fully satisfied with it. But the block reward is decreasing now. You are not able to generate 0.05 coins in revenues. In addition, to get full BTC, miners have to operate one year and eight months.
Ant miner S7
You have the ability to produce 0.15 bitcoin with ant miner S7 to become a leader. While, If the currency value continually growing up, it will be the very good investment. This device is better for the early adopter of the technology. Whereas, it is not enough strong to produce a large number of bitcoin.
Avalon 6 is same as s5 and s7 with little changes. While the users of this technology are fully satisfied with it. Miners mostly select s7 instead of Avalon 6 because of it is $100 more expensive than s7. This software has the capacity to earn 0.12 bitcoin per month.
Ant miner R4
This mining machine is specially designed to mine bitcoin at home as a hobby. It has the ability to compete with s7. In addition, the upside of this hardware is cooling machine. Furthermore, it is quite compared to the other bitcoin miners. You can break even with this device within a year. Whereas, it involves the risky investments. And miners become outdated after six to nine month. ROI only produce in case of currency values continually increases.
Avalon introduce the most recent mining device Avalon 7 or 721. It is quite cheap as compared to the modern mining hardware devices. In addition, with entry-level mining, miners can break even within two years.
Ant miner S9
It is basically a cream of the crop. In addition, with the capacity to mine 3 or 4 times more BTC, it is five-time expensive. This device uses electricity more efficiently because it provides the profit at a short time period.
Accordingly, this device is new in the market is the most sophisticated rig. Antminer has the capacity to mine 0.5 coin monthly in which extra expenses are not included. Whereas, with the greater hashing power Antminer S9 work efficiently.
A top maker of the Application Specific Integrated Circuit hardware (ASIC) Bitmain is easily available for the public in a market. S9 is the latest model in the market. Whereas, its chip is smaller than the others mining hardware but is more efficient in working.
Accordingly, miners will be able to break even within the year.
Upcoming mining hardware
Following are some mining hardware with efficient mining capacity.
Fast- hash one
Fast- hash one series is including silver edition, gold edition, platinum edition means three model machine is in one setup. Machines come with the same module. And has a capacity to up-grated up to six.
|Editions||Start||Tops out||Produce bitcoin|
|Silver edition||64GH/s||384GH/s||0.2 up to 0.85 bitcoin per day|
|Gold edition||128GH/s||768GH/s||Same as above|
|Platinum edition||256GH/s||1.536 TH/s||Same as above|
Gold and platinum editions support up to six expansion cases. Whereas, silver does not support this sort of cases. These miners are available for pre-order and each extension contains 16 modules.
The price of this fast-hash one is $2499- $5999.
CoinTerra and TerraMiner IV
CoinTerra and TerraMiner IV is bitcoin mining machine. Which is drove by CoinTerra’s own in-house ASIC chips, Goldstrike I. In addition, TerraMiner with 4U power supply is built on 28nm process.
This miner contains 4 ASIC chips with the hash rate of 500 GH/s. Accordingly, CoinTerra IV has the total hash rate of 2TH/s. Furthermore, a price of $ 5999, CoinTerra translate to just over 1.1 bitcoin per day.
Hashfast sierra is an efficient performance mining machine. It is basically built into 4U mountable case with two seansonic power supplies. Sierra has the hash rate of 1.2 TH/s means 0.66 bitcoin per day. This miner does not have an on-boarder controller. So, you have to connect through a USB. This main control is everything that will run CGminer, a mining software. Hashfast sierra with a cost of $6300 is available.
Black arrow Prospero X-3
Black arrow X-3 is presented by 20 black arrow minion ASIC chips. The ASIC built on 28 nm processor and are in-house design. The 20 Minion ASIC chips in the Prospero X-3 give it a hash rate of 2TH/s, good for about 1.1 Bitcoins per day as of the time of writing. The Prospero X-3 has been designed with up to 20% under- and overclocks in mind. It also supports the lightweight Stratum mining protocol.
The Prospero X-3 is available for pre-order and is scheduled to be available at the end of February 2014.
The price of this mining hardware is $6999.
This miner is quite possibly the granddaddy of all Bitcoin mining machines. Whereas, it is basically four modular 20nm ASIC boards, designed so that the machine will continue mining even if one (or more) of the boards fails. Accordingly, it follows up from their previous miner, the Jupiter, which was built on a 28nm process.
The Neptune has a minimum hashing speed of 3TH/s, which translates to about 1.66 Bitcoins a day. This is a vast improvement on the Jupiter, which was only able to mine 0.6 Bitcoins a day. KnCMiner also mentions that they have the right to increase the speeds as it nears shipment, so the Neptune might end up being even faster once it gets into miners’ hands.
The KnCMiner Neptune is currently available for pre-order and is scheduled to begin shipping in Q1/Q2 of 2014, limited to 1200 units.
The price of this mining machine is $12,995.
The so called bitcoin bull Tom Lee sees cryptocurrency market to experience a massive outflow before the cryptocurrency taxes closing. Tom Lee is considered to be an authority on the bitcoin as he is the Managing Partner and the Head of Research at Fundstrat Global Advisors. His views are considered to be quiet solid and authentic about the crypto business.
Alongwith the above predictions Tom Lee has also very optimistic views about the crypto currencies specially the bitcoin. According to him the current positive amendments and announcements about the cryptocurrency are the main factors that can undoubtedly act as a catalysts for the growth of bitcoin in the year 2018. He further predicted that at least 3 major publicly-traded corporations would short sure issue their own native digital tokens. And this prediction has been took serious in terms of valid crypto news as three major companies have already announced their efforts within crypto-currencies.
There are also clear indications that all the major financial corporations might start moving towards crypto-currencies before Wall Street makes its mind to do so. The Rakuten Coin is a well elaborated example of this progress, it was launched by the Japanese e-commerce company Rakuten. All these are the positive developments in terms of crypto market which are somehow related to the previous predictions made of Tom Lee.
Facts which do not Match Tom Lee’s Prediction
Though some of Lee’s predictions were a real good shot in the past but some of his famous flops in this regard should also be considered. For example the large sell-off in Bitcoin and other cryptocurrencies predicted by him at the start of this year was a total flop. The starting price of Bitcoin this year was above $17,500 which witnessed a rapid downfall to about $6,115 by February 6th. Though prices did recover with a steady pace but it was a shock for most of the investors which ultimately broke their heart.
Lee’s next price prediction for Bitcoin stands at $20,000 by June this year. He also gave a target of $25,000 for the end of 2018. Other famous prediction by Tom Lee included that the famous social media network Facebook and ecommerce platform Amazon will announce its own crypto strategy this year.
Other Examples Cited By Lee
Some other significant examples cited by Lee are as follows:
Line, the famous Japanese messaging announced that it is going to launch “Line Financial”. It will be a division allowing users to exchange digital currencies.
Expected use of the blockchain technology by Starbucks. Moreover Mark Zuckerberg also announce in an online post this January that his company would look into cryptocurrencies this year
Members of the Bitcoin community are always looking for ways to buy and sell products in exchange for bitcoins. Fortunately, several sites make that possible by offering secure and safe platforms for sellers and automatic escrow protection for buyers who bid to purchase their desired items on sale.
The following auction solutions have gotten a lot of attention over the past couple of years:
OpenBazaar is a top Bitcoin auction site for everyone looking to purchase or sell all sorts of items in one place. Although it is believed to be a normal shop on the internet, it does offer some auction functions as well. There is no limit as to what items can be sold on the platform. Also, OpenBazaar’s peer-to-peer nature means there is no company or middleman that can remove or block listings, charge fees, or hold money. By accepting bitcoin payments, sellers are opening up to their offering to the rest of the world.
Another Bitcoin trading platform. Bitify was launched in September 2013 and was first known as CrptoThift. It uses an auction system to sell items. It also offers escrow services to the buyers. The buyers have an option to use the escrow service for 1% fee. This means that Bitify acts as a guardian over the customer funds until the transaction is fully settled. You can browse numerous posted items for sales such as E-gift cards, software installers, online gaming accounts and more. Although, it offers more of digital items rather than physical goods.
This platform has been around the longest and sells items super-fast. Buyers can find reasonable deals on electronic items and much more, whereas sellers can benefit from selling their unwanted products. There have been thousands of feedbacks on this platform and have been nothing but positive. So, make sure to drop by this site if you’re ever looking to sell any items. Glyde provides insurance on every package, so in the rare event an item is lost in the mail you will still be compensated for the sale. It is the best bitcoin trading platform to buy and sell with bitcoins.
To help build and enhance your reputation, opt for websites having built-in feedback systems. Also, make deals with already established buyers where you send them the item first and then wait for them to send bitcoins after receiving the goods.
REMEMBER! Your buyer should have an established reputation so you don’t suffer a loss. There could be cases where you send the item to the buyer and they never send the payment.
Out of 10 biggest cryptos, Bitcoin Cash took the biggest hit on Friday as its value dropped by ~42% in one day.
Over the previous week, the South Korean crypto market‘s Bitcoin Cash frenzy and the reconciliation of BCH on the CoinBase and its digital currency exchange GDAX prompted a meteoric boost in the value of Bitcoin Cash.
Within seven days, the cost of Bitcoin Cash surged from $1,760 to $4,300, increasing by more than 144 percent.
As allegations against Coinbase’s potential insider exchanging of Bitcoin Cash rose, the cost of Bitcoin Cash encountered a minor revision, from $3,500 to $3,300. Still, a couple of hours later, the cost of Bitcoin Cash crested at $4,300, because of the rising interest for the crypto in South Korea.
For a concise timeframe, CoinBase and GDAX suspended Bitcoin Cash exchanging given its unforeseen unpredictability and suspicious value development of BCH before the coordination of Bitcoin Cash by CoinBase and GDAX. CoinBase CEO Brian Armstrong composed:
“I take the confidentiality of non-public data very seriously as CEO. Given the cost increment in the hours driving up the announcement, we will lead an investigation regarding this issue. If we discover confirmation of any worker or contractual worker damaging our arrangements — directly or indirectly — I won’t falter to fire the person quickly and make a legal move.”
So, Is BCH Going To Recover?
The latest slump in the cost of BCH isn’t just specific to BCH. Each and every digital currency in the market, from the biggest to top 100 have fallen in value. Bitcoin, Ethereum, Litecoin, Ripple, Monero, and IOTA have recorded more than 30 percent slump in cost in the course of recent hours.
Thus, the cost of Bitcoin Cash will probably recoup if the crypto market can recuperate quickly. Throughout 2017, the whole digital money market had not encountered a hit of this size in which each cryptocurrency in the market was influenced.
However, experts have noticed that the current cost adjustment of crypto money was essential, given the exponential increment in value and market valuation of cryptographic money since January 1.
Story Credit: ccn.com