Mining what to mine per year. What is cryptocurrency mining in simple terms. How to start mining cryptocurrency without investments on the machine and home PC. Mining farm components

How much can you earn on mining cryptocurrencies and what is needed for this.

To bookmarks

In June 2017, the media on the shortage of video cards in Russian computer hardware stores - in Moscow, GPUs almost disappeared from sale, Vedomosti reported.

The sellers themselves linked the growing demand for components with the interest of Russians in the mining of cryptocurrencies, which grew amid fluctuations in the exchange rate of bitcoin, ether and other virtual currencies. In June 2017, the cost of bitcoin for the first time was $ 3,000 (at the time of this writing, the cost of bitcoin was $ 2,689). Since the beginning of 2017, the bitcoin rate has grown by more than 160%, the rate of another popular currency - ether - by 4485% and at the time of this writing was $ 375.5.

The editors of the site found out how cryptocurrency mining works from a technical point of view, how much scarce equipment will cost and how quickly you can recoup the cost of purchasing several video cards.

How the process of mining cryptocurrencies works and what determines the miner's income

In general terms, computers that mine cryptocurrencies solve a cryptographic problem. For any cryptocurrency, a history of all transactions is kept, and transactions in it are recorded in blocks. Each next block contains information about the previous one in a hashed form, and this hash must correspond to certain parameters. Miners are engaged in selecting the conditions under which the hash will take the desired form - and looking for the hash itself.

Such a problem can be solved only by a complete enumeration of options - to parallelize these calculations, the participants need powerful video cards.

For each discovered hash code, participants receive a fixed reward - a certain amount of cryptocurrency. Each machine in the network has its own hash rate - this is an indicator that characterizes the machine's ability to pick up hashes (another such indicator is "sol", solution per second is the number of attempts to pick a hash of transactions in the blockchain per second).

The issued currency is divided among all miners in proportion to the capacity of the "farms" they use. The first factor that affects a participant's income is the total computing power of the network. The higher the total hash rate, the less each earns.

The second factor is the cost of the cryptocurrency itself. It is more profitable to mine currency when its rate grows faster than the participant's contribution to the mining process falls.

What you need for mining

Mainly computers equipped with multiple graphic processing units (GPUs) are used for currency mining. Computing for most cryptocurrencies on computers equipped with only a CPU is economically disadvantageous.

The choice of the chip depends on the specific currency. For mining ether (Ethereum), video cards are suitable, for mining bitcoins of the capacities of video cards due to the high complexity of calculations already - chips of FPGA and ASIC types are used for such tasks.

The user can program FPGA-type circuits on his own for his own needs, ASIC chips are initially created for a specific task (for example, bitcoin mining) and can only be used for it.

The main problem with such schemes is their inapplicability for other tasks. If a network participant is mining cryptocurrency using GPUs, and the activity ceases to be profitable, he can switch to another currency or even use a video card for completely different purposes. The FPGA chip would have to be manually reprogrammed, the ASIC chip would have to be discarded.

On average, assembling a computer with six video cards (for example, AMD Radeon RX 570) will cost 150,000 - 170,000 rubles. Of these, 75–85% of the cost of a computer will be spent on purchasing video cards. Taking into account electricity costs (about 3-4 thousand rubles per month in Moscow), the senior investment manager of the Runa Capital fund Konstantin Vinogradov estimated the payback of a computer for ether mining in 3-4 months from the date of purchase.

At the same time, given the current deficit, Vinogradov noted, assembling a computer for 150 thousand - 170 thousand rubles will no longer work: you will have to spend 180 thousand - 230 thousand rubles. He also added that even one such structure is very hot, and it is almost impossible to keep more than one "farm" at home.

The cost of a computer with an ASIC for mining bitcoins will on average be the same or higher. One of the most popular manufacturers of ASIC chips for Bitcoin mining is Bitfury.

How much can you earn on the most popular cryptocurrencies

You can find out how profitable it is to mine this or that cryptocurrency now on the What to Mine website. The service analyzes the dynamics of the exchange rate and predicts the profitability of mining depending on the capacity of the "farm" for mining.

The editors of the site calculated how much you can earn in 12 months of mining four popular cryptocurrencies according to Coinmarketcap by assembling a computer equipped with six MSI GeForce GTX 1060 video cards (worth from 26 thousand rubles each). The total cost of such a computer will be about 180 thousand - 190 thousand rubles (about $ 3200). At the same time, the cost of electricity has been rounded to $ 0.1 per 1 kWh (about 5.9 rubles).

For bitcoin mining, it is supposed to use an Antminer S9 ASIC device worth about 140 thousand rubles (about $ 2300) together with a power supply unit.

For Litecoin mining, it is supposed to use an Antminer L3 + ASIC device worth about 106 thousand rubles (about $ 1800) along with a power supply.

Calculations were carried out at the cryptocurrency rate as of June 20, 2017. At the same time, the profitability and profitability of mining regularly change depending on the market value of currencies and the number of miners, so it is impossible to make accurate calculations.

• ​Bitcoin (on ASIC): Daily income from Bitcoin mining, according to What to Mine forecasts, will be $ 12.63; daily profit, taking into account electricity costs - $ 9.34. With such profitability, the cost of the "farm" will pay off in 247 days, the profit in 12 months will be $900 (more than 53 thousand rubles).
• Ethereum(on GPU): daily income - $ 24.41; daily profit - $ 23.12. The cost of the "farm" will pay off in 139 days, the profit in 12 months will be $5238 (more than 315 thousand rubles).
• Litecoin (on ASIC): daily income - $ 12.46; daily profit when taking into account electricity costs - $ 9.17. The cost of the "farm" will pay off in 193 days, the profit in 12 months will be $1547 (more than 91 thousand rubles).
• Ethereum Classic(on GPU): Daily income - $ 22.84; daily profit - $ 21.55. The cost of the "farm" will pay off in 149 days, the profit in 12 months will be $4665 (more than 267 thousand rubles).

According to What to Mine, as of June 20, 2017, the most profitable thing, in addition to mining Ethereum, is to mine Hush, Zcash, Expanse, Zencash and Sibcoin currencies:

• Hush (on GPU): daily income - $ 25.20; daily profit - $ 23.91. The cost of the "farm" will pay off in 133 days, the profit in 12 months will be $5527 (more than 327 thousand rubles).
• Zcash (on GPU): Daily income - $ 24.60; daily profit - $ 23.30. The cost of the "farm" will pay off in 138 days, the profit in 12 months will be $5304 (more than 314 thousand rubles).
• Expanse (on GPU): daily income - $ 23.51; daily profit - $ 22.22. The cost of the "farm" will pay off in 145 days, the profit in 12 months will be $4910 (more than 291 thousand rubles).
• Zencash (on GPU): daily income - $ 23.26; daily profit - $ 21.97. The cost of the "farm" will pay off in 146 days, the profit in 12 months will be $4819 (more than 285 thousand rubles).
• Sibcoin (on GPU): Daily income - $ 22.60; daily profit - $ 21.30. The cost of the "farm" will pay off in 151 days, the profit in 12 months will be $4574 (more than 271 thousand rubles).

For comparison, the editors calculated how much they could earn by investing the same amount (185 thousand rubles) for 12 months in Russian banks.

Network users who are looking for a way to make money on the Internet have probably at least once come across articles or videos telling in simple language how to get high income without investments on an automatic machine with a withdrawal by simply installing a program for mining bitcoins on a PC. Moreover, these articles and videos are not at all an attempt by scammers to lure gullible citizens into their networks. Expert opinions confirm that cryptocurrency mining really brings high profits. And although news appears from time to time in the official media that the use of digital currencies in the Russian Federation will soon be banned, this is unlikely to happen in reality - the state simply does not have the ability to close access to cryptocurrency exchanges and cloud mining services. So, for those who want to try this way of making money, it will be useful to find out what mining is and where to start mining coins. We will also try to figure out if it is realistic to mine bitcoins on a home PC in 2018.

Cryptocurrency mining 2018 - what is it and how profitable

Cryptocurrencies, unlike fiat (government) money, are not printed on a machine by order of the Central Bank, but are mined by the network users themselves. The process of mining (creating) new coins is called mining. Anyone can mine virtual coins, and you don't even need to leave your personal data for this - most cryptocurrency systems allow users to remain anonymous.

The answer to the question, cryptocurrency mining 2018 what it is and why is it needed, in simple terms, will be as follows: these are the actions of a network user aimed at creating new digital coins of his chosen electronic currency. The purpose of mining is to make money virtual moneythat can be accumulated, used as a means for financial settlements on the network, or sold on the exchange for dollars / euros / rubles / any other currency.

The technical side of cryptocurrency mining

Since cryptocurrency mining is carried out in the virtual space, it is obvious that the process of creating new coins is the generation of a unique digital code for these monetary units. All data on the created financial units are automatically immediately entered into the blockchain - a virtual archive of the cryptocurrency system, where information about all transactions is stored unchanged.

Most cryptocurrency systems, including bitcoin, have both a limit on coins that can be mined and a limit on the number of financial units that can be created over a certain period of time. Therefore, the more users are engaged in the production of a certain currency, the more difficult the process of generating new money becomes.

From a technical point of view, the cryptocurrency mining algorithm itself looks like this:

1. Specialized software, using the power of the computer hardware, solves the problem defined by the cryptocurrency system.
2. When a solution to this problem is found, the result is a block of digital data that satisfies all the requirements of the system.
3. The block generated by the program is written into the blockchain database, and the miner who created it (a group of miners) receives a certain number of coins as a reward.

As soon as new coins are credited to the cryptocurrency wallets of miners, the data on these transactions will be reflected in the blockchain. Of course, this open archive does not store the original, but the encrypted codes of the coins.

Prospects for mining coins in 2018

Today, there are more than 200 cryptocurrencies in the virtual space, differing both in rate and liquidity. The most popular now are bitcoin, ether, lightcoin and ripple. The rates of these currencies are growing steadily, and the demand for them is high not only on specialized exchanges, but also on foreign exchange and stock markets.

Cryptocurrency mining in 2018 is a fairly promising way to make money, since not only ordinary network users, but also large investment companies are currently interested in highly liquid digital currencies. Already on the real estate market different countries, and in international auctions you can find objects and lots for sale for bitcoin. And it is likely that in the future, cryptocurrencies can be on a par with fiat money.

How to start mining (mining) cryptocurrency coins in 2018

It is not always clear for users who decide to try such a way of earning money as mining cryptocurrency 2018, where to start. What software to install, whether or not you need to buy additional equipment, how much electricity and power of the PC will be spent on mining digital coins - all these questions inevitably arise for novice miners.

In fact, mining cryptocurrency is quite simple from a technical point of view. The main thing is to reasonably assess the power of your hardware and select effective software. But the first thing a newbie in the field of coin mining should do is decide what kind of cryptocurrency he will mine. The fact is that the extraction of the most popular digital money in 2018 requires very large capacities, but less known and new currencies are much easier to mine.

When it is decided which coins to mine, the miner has to take 2 steps:

1. Create a coin wallet to store mined coins (for bitcoin - on blockchain.info or other trustworthy services; for ether - on myetherwallet.com, etc.)
2. Install a miner program on the PC that will carry out calculations to create new blocks. When choosing software, you need to take into account that some miners are "sharpened" to use the power of the processor, and some work on video cards.

Most miners now use programs like CCMiner, 50Miner, Ufasoft Miner, CGMiner and DiabloMiner. It is important that this software is designed to mine several coins at once, so if in the future the user decides to mine other coins, he does not even need to reinstall the program.

Real ways of mining cryptocurrency in 2018

In order to make money on mining coins, it is not enough just to know where to start mining cryptocurrency in 2018. The main thing is to reasonably assess the power of your PC and the ability to purchase specialized equipment (powerful video cards or ASICs).

Today, there are 3 real ways to mine cryptocurrencies. These methods are as follows:

1. Setting up a mining farm at home. For a farm to be profitable, it must be made up of powerful specialized equipment. Miners specializing in the extraction of bitcoins, litecoins and ether create farms with several gaming or specialized video cards at once, or buy 1-3 powerful ASIC miners.
2. Mining cryptocurrency in a pool (cloud mining). The essence of cloud mining is that users combine their power for collective mining. Now more than 90% of bitcoins are mined by pools, not by solo miners.
3. Using bitcoin faucets. There are resources on the network that distribute satoshi (the smallest unit in the bitcoin system) for performing any simple actions. By registering on several of these resources, you can collect several thousand Satoshi a day.

Mining bitcoin cryptocurrency on a home PC: is it real in 2018

The bitcoin rate in 2018 is kept at the level of 3500-3700 $, but several times on Forex it has already exceeded 1 in 4000 against the dollar. Therefore, it is not surprising that it is Bitcoin that is of the greatest interest to novice miners. But unfortunately, today, mining the bitcoin cryptocurrency on a home PC is not possible.

More than a million users around the world are currently mining bitcoin, and most of them are members of large pools and use very powerful specialized equipment. Therefore, the power of the home PC will be insufficient to solve the tasks set by the btc system and generate new blocks.

After getting acquainted with digital currency, many users have a question, which electronic money is most profitable to mine, as well as where and in what way. This article discusses the most profitable option for today.

Let's start with the fact that every couple of months the profitability of mining decreases due to the fact that more and more people learn about it. Recently, the bitcoin rate, which sank by more than two times, also contributed its share. For comparison, in winter the most profitable video cards in terms of mining could be recouped in two months, but now this process takes 6 or more months.

Does this mean that the train has left for good? We will not speculate on this topic, but in 2009, bitcoin mining was also absolutely not profitable, and just a couple of years later, people who spent several weeks mining coins earned quite a lot of money on the jumped cost. It is possible that the prices of bitcoin and other cryptocurrencies expect several more leaps in the future, and a small number of coins by current standards can pay off a hundredfold. But again, no one can give any guarantee that it will pay dividends.

Everything written below will be devoted to the most effective way receiving coins and answering questions: what to mine, where to mine, how to mine, and to some extent what exactly to mine. There is currently no more profitable mining method within the margin of error of a few percent.

So let's start with question number one.

What to mine?

It is very difficult to answer this question. And no matter how trite it may sound, Bitcoin is probably best of all to mine - primarily from the point of view of reliability. On the other hand, other things being equal, the coefficient of increase in its price is likely to be lower than that of one or more altcoins, which currently cost literally a penny. From the alternative CVs, at the moment it is worth taking a closer look at Litecoin, Dogecoin and, possibly, Blackcoin. This is a subjective point of view, but it is these three digital currencies that have the best prospects at the moment.

The list of cryptocurrencies can be found independently in these lists: coinmarketcap.com, www.cryptmarketcap.com.

How to mine?

Since this material is primarily intended for ordinary home computer owners, mining will be considered solely from the point of view of using video cards. ASIC boards for sha256 (bitcoin) are bypassed immediately due to their high cost. ASIC boards for scrypt with decent performance have not yet appeared on sale, and it is unlikely that an ordinary user will immediately want to invest in them an amount in the region of $ 1000 (for boards with an average price / performance ratio). Nevertheless, we will leave the link to the websites of manufacturers of the most promising ASIC boards for scrypt, just in case: zeusminer.com, www.kncminer.com/categories/litecoin-mining-hardware.

These boards are much more profitable in terms of performance per kilowatt and require, on average, 20 times less electricity than a graphics card of comparable performance.

But back to video cards. The most profitable video card in terms of khash / $ or khash / watt can be found in this table.

At the moment, in the category of performance / cost, oddly enough, it is not the latest models that are leading, but the veterans in the face of the 7870, 5970, 5870, R9 270X radeons. True, it is worth noting that the absolute performance of these video cards is relatively low, and if you plan to install more than one board in your computer, additional costs for a power supply unit, PCI-E risers, possibly a new motherboard with several PCI-e slots, can be significant. and in this case it is better to immediately take something more productive - for example, R9 280x.

PCI-E riser is a cable 20-30 cm long, which allows you to take out the video card, which improves its cooling, and connect PCI-E 16x video cards to the PCI-E 1x slot. In this case, performance does not decrease, since mining does not require intensive data exchange over the bus. Attention, connect PCI-E 1x adapters only to the corresponding connector and do not use it with a 16x slot, since the motherboard will try to supply additional power to the full slot using a limited number of pins and, most likely, burn both the slot itself and the riser.

Where to mine?

Let's start with the fact that it is not profitable to mine bitcoins using video cards. The easiest way to explain this is with an example. If you mine the most profitable altcoins at the moment and then exchange them for bitcoins, then on average 50 times more bitcoins will be released than when mining directly.

What altcoins should be mined for this? Fortunately, you don't need to know the answer to this question. There are so-called Profitable Pool, which automatically track the rate of altcoins and extract the most profitable ones at the moment, often switching between them literally every few minutes.

Recently, the number of such pools has been constantly growing, but only a few of them demonstrate good profitability indicators, which can be found on the PoolPicker website.

As you can see, the situation changes almost every day, and it is possible that the most profitable pool today will be the least profitable tomorrow. However, there is a simple answer. The recently launched NiceHash pool shows the best performance over several days on average. This can be explained very simply. NiceHash is not just a pool, in the usual sense of the word, but a site where you can rent out the power of your computer, so the profit is slightly higher here.

A lease does not in any way mean the use of your computer at any time the tenant needs. You start mining yourself when it is convenient for you and you can turn it off at any time, so that we are not talking about any incomprehensible calculations on your computer. In fact, just like traditional pools, you mine coins for the server, which is an intermediary for transferring them to the tenant.

The advantages of NiceHash include payments that occur 4 times a day, while other pools do it, as a rule, once a day, and then only if there is a certain amount on the balance sheet.

If out of interest you want to find out and calculate the profitability of coins yourself, then this can be done using the sites: www.coinchoose.com/litecoin.php, www.coinwarz.com/miningprofitability/litecoin

How to mine?

Let's consider mining using NiceHash as an example. Setting up another pool is fundamentally no different.

First, you need the Sgminer program, since Cgminerс NiceHash does not work and gives a Rejected error. On the official Sgminer website, only the source code of the client is available, which you can compile yourself if you have the required knowledge, and the finished version of Sgminer for Windows can be downloaded from sgminerwindows.

You will also need a bitcoin wallet to work, for example, MultiBit.

Registration on the NiceHash pool is not required, since the address of the bitcoin wallet is registered as the username, which can be viewed in MultiBit.

To start mining, you need to create a bat-file with any name near the sgminer.exe executable file, for example NiceHash.bat. The contents of the bat file should be approximately the following (one line):

Sgminer -o stratum + tcp: //stratum.nicehash.com: 3333 -u 1FL7DA4QUTjuiMNeix2P3TDHvefnyw3Ek2 -p x —temp-target 80 —auto-fan

-o stratum + tcp: //stratum.nicehash.com: 3333 -pool address

-u 1FL7DA4QUTjuiMNeix2P3TDHvefnyw3Ek2 - username, and in this case the address of the bitcoin wallet

-p x - a password that can be used as anything

—Temp-target 80 —auto-fan -sgminer will take over the control of the cooler and will maintain the temperature of the video card no higher than 80 degrees

To improve performance, you can add the activation of the experimental kernelzuikkis to the line. This can speed up the graphics card by an additional 2.5%.

-k zuikkis

This core does not work well with all video cards, so before using it, compare the number of khashes with and without it.

Also, the bat file should contain performance settings that are unique for each specific video card. You can see them. It is even better to read the material to understand this issue in a little more detail.

It is desirable, although not required, to add a spare pool to the row. If NiceHash runs out of orders, the miner will be idle, so it is recommended to register any other Profitable Pool as a backup.

After saving and running the bat file, the Sgminer window should look something like this:

Outcome

Buying altcoins instead of mining them involves a mechanism known as buying pressure. The presence of demand leads to the fact that offers with the lowest price are quickly sold out on exchanges, and the price begins to creep up. This leads to slow growth in the short term and an increase in prices by several orders of magnitude in the long term.

If some points in the text raised additional questions, read also the materials and.

What cryptocurrency is profitable to mine now? On the one hand, there is no definite answer to this question. But on the other hand, there are still unconditional leaders among mining fans.

It should be noted that it is difficult for novice miners who have just found out to determine which of them will be profitable, therefore, if a person does not have a rich experience of working with digital currencies, it is better to stay on the most reliable and proven options described below.

What are the best cryptocurrencies to mine in 2018? The following altcoins are promising leaders today:

• ZCash
• Monero
• Ethereum (Ethereum)
• Ethereum Classic (Ethereum classic)

This list can be supplemented with other altcoins.

For example, in the past few months, the Cardano cryptocurrency has grown, providing mining on the principle of Proof-of-Stake. This means that not those miners who have higher powers, but those who have a large number of Cardano coins, have a much greater chance of receiving a reward for the found block.

Vitalik Buterin, the creator of the Ethereum cryptocurrency, plans to introduce this principle of Proof-of-Stake, instead of the usual Proof-of-Work. It is not yet known when this will happen. But investors who want to start traditional mining are not advised to spend money on the purchase of large farms for Ethereum due to this news.

Monero and ZCash work on the basis of Proof-of-Work technology (those miners who have the greatest computing power have the greatest chances of receiving a block reward), so the prerequisites for a fall in the rate of these cryptocurrencies are not yet clear, which returns investors to the question of expediency purchasing equipment for mining.

How much can you earn on a mining farm?

GTX 1070 and GTX 1080, which currently cost around $ 600-900. The first (GTX 1070) on ZCash mining brings about $ 70-100 per month, the second (GTX 1080) - $ 90-130 at the current cryptocurrency rate. Therefore, the profitability of a crypto-farm (and, accordingly, earnings from mining) on \u200b\u200b6 video cards will be in the first case about $ 400-600 per month, in the second about $ 500-800.

To assemble a simple mining farm on 6 video cards, with the exception of the cost of the video cards themselves, you will have to spend about $ 300-400 more. In the end, such a mining farm for earning is likely to fully pay off in 7-9 months.

A farm on six video cards is cheaper (for example, GTX 1050 and GTX 1060 - they cost about $ 200 and $ 300, respectively) for mining when mining ZCash now brings about $ 250 per month. Its payback is approximately the same as in the previous version.

The profitability indicators of mining Ethereum, Monero and Ethereum Classic and others on these farms are similar and may differ slightly in one direction or another by a maximum of $ 25-30 per month, and most often by $ 5-20.

What must be considered when choosing a cryptocurrency for mining?

The fact is that depending on the equipment you have, the efficiency of mining for different cryptocoins will be completely different. Some video cards are much more efficient at mining Ethereum, while others are more efficient at mining completely different coins.

If you are mining not on video cards, but on specialized ASIC equipment, the picture changes again.

How to find the most profitable cryptocurrency for mining?

You can determine the most profitable coin for mining at the moment, which will be the most profitable for mining today, through special services. For example, the popular service Whattomine.com.

On this site or in the bot of the same name, in the telegram.org messenger (Whattomine), you can enter the indicators of your equipment, hash rates, etc. get a list of crypto coins that will bring the most income from mining. Thus, you can automatically compare in one place how much money mining each of the coins you choose would bring.

But keep in mind that the profitability of mining does not only consist of the value of the mined coin today. You can also lay yourself some investment strategy, realizing that a crypto coin can significantly increase in value over time. Mining and selling everything mined at once is usually not efficient and may not be profitable.

It may turn out to be much more profitable to mine a coin in which you now see the maximum prospect for its value growth in the near future. Therefore, if you are interested in what is most profitable to mine at the moment at a given moment, then the easiest way to determine this is through services such as Whattomine.com and various calculators for mining earnings, of which there are quite a few on the Internet.

If we figure out what will bring the maximum profit in general, then we need to predict which of the crypto coins has a higher growth potential in the near future. And then, a good strategy can be: mine today what is most efficient to mine today, what will bring the most money today and convert the profit into those coins, the maximum growth of which you expect in the near future or maybe in the long term.

The combination of efficient mining and effective investment strategy can give you the best possible results. This is precisely the task of correct investment, the task of a competent entrepreneur - to determine the risks and chances of today and predict what we can count on in the near future.

Of course, there are certain risks that, for example, the value of the cryptocurrency chosen for mining will not increase. Thus, by applying together what works reliably and what can bring high income, but has a higher risk in itself, you can find for yourself some kind of your individual personal strategy.

What else should be considered when making money on mining?

There are several factors affecting cryptocurrency mining earnings. In addition to the correct choice of the cryptocurrency itself, which involves an adequate assessment of the algorithm for its production and the requirements for the equipment used, several factors strongly influence the final earnings:

Cryptocurrency rate... The most popular cryptocurrencies for miners have recently fallen in price along with bitcoin, but they also began to grow with it. Most likely, we will observe a correlation with Bitcoin in the future, so now it makes sense to follow the forecasts regarding the rate of not only the cryptocurrencies selected for mining, but also the forecasts for Bitcoin itself.

It is clear that it is also impossible to neglect information about the currencies selected for mining, since various events can occur in them that significantly affect their rate, but are not directly related to the general dynamics of the cryptocurrency market as a whole.

Any events affect the cost of less popular digital currencies much more strongly, so their rate can change greatly from any little thing: both internal and common for the entire cryptocurrency market.

The fees of the mining pool itself... The calculation of earnings on mining was carried out taking into account the pool commission for mining - 2-2.5%. In general, the fees charged by trusted pools rarely exceed these numbers and are rarely lower.

Electricity cost... The above profitability was calculated for the CIS countries. It is worth considering here that in the same Russia there is settlements and cities with more expensive electricity costs, in which the monthly income could be reduced by $ 50 because of this, and villages with cheaper electricity, where miners can make a little more profit on a monthly basis.

So that you, dear reader, avoid common mistakes in mining and the loss of your money and time, we will answer common questions and give you some useful recommendations.

Should you mine Bitcoin on video cards?

Is it possible to mine Bitcoins on video cards? You can, but you shouldn't do it now. In fact, mining Bitcoin on video cards has now ceased to be efficient and cost-effective due to the very high complexity of these calculations.

Due to the low efficiency of Bitcoin mining, you won't even be able to recoup your electricity costs, let alone the cost of the hardware itself.

Bitcoin is now split into two coins:

• The original Bitcoin, which can continue to be mined on specialized hardware (ASIC miners). Here you should take into account the cost of electricity consumed, since the ASIC can consume up to 2 kW per hour. Let's multiply this figure by 24 hours and 30 days. We get 1440 kW. We multiply this by the cost of kW 5.38r (as of January 2018 in Moscow) and we get 7747 rubles per month. With the increase in electricity bills, earning from Bitcoin mining is becoming less and less profitable.
• Bitcoin Gold, which showed promise for private miners, since by changing the algorithm, it could be mined on a PC. But due to technical flaws, the hopes of the miners did not come true, and the mining of Bitcoin Gold, which seemed promising in November 2017, is now unprofitable.

Is it better to mine: Asic or a video card?

ASIC miners develop for one or another blockchain algorithm and they decode it several times faster than ordinary or even gaming video cards, since all their components are aimed at working with this algorithm.

Due to this, the energy consumption during mining, spent on obtaining one crypto coin, is greatly reduced. To get the performance of an ASIC miner on a conventional farm of video cards, you will have to assemble a farm from several dozen video cards, so its power consumption will be tens of kilowatts.

With the same ASIC performance, the miner consumes only 1-1.5 kW. Professional Aisics naturally consume more, but, in general, the ratio of performance and power consumption cannot be compared with the same characteristics of farms on video cards.

Conclusion: in most cases, ASIC miners are more profitable and cost-effective than farms on video cards.

Get a reliable cryptocurrency wallet

Since you are reading this article, you already know, and that with its help you can not only pay for purchases in online stores and all kinds of services in the same online. Now, many people are ready to purchase expensive mining equipment, despite the inflated prices, investing large enough funds in anticipation of big earnings with the help.

Here, as in any other business, you need to approach business wisely so that the money spent will pay off many times over and begin to bring substantial profits to their owner.

About the article: By 2017, there are already a huge number of cryptocurrencies, and in this regard, many users ask the question: "What is the most profitable cryptocurrency for mining?" Well, in this article you will learn about the best mining pools, several very promising currencies, which is the most profitable cryptocurrency for mining right now.

The most profitable cryptocurrencies for mining

With the advent of the bitcoin cryptocurrency, a huge number of people began to mine it for further earnings. For 3-4 years since the inception of bitcoin, people have really managed to make a profit. However, the mining of cryptocurrency went on at a very fast pace, and since the number of blocks of cryptocurrency coins is limited, its disappearance in such a situation was inevitable. Realizing this, the developers of bitcoin decided to make it more difficult to mine, and to reduce the number of coins in a block. Thus, the profit from mining this cryptocurrency was already vague in 2016 - it was necessary to purchase more powerful hardware for farms, which also did not give any guarantees of profit. It was at this moment that many miners with their own farms drew attention to other already existing cryptocurrencies. Let's figure out which of these currencies are the most profitable for mining in 2017.

The mining process itself is aimed at a very simple goal - to make money. Virtual currency is an encrypted code that only a computer can decrypt. That is why the number of coins you get depends to a large extent on the power of the equipment. You need to understand that the situation with bitcoin can happen with any other cryptocurrency, so the earlier you start mining, the better. Over the past couple of years, the topic of cloud mining has become more and more popular: large companies buy devilishly powerful hardware specially designed for mining, create a service on the Internet, where miners invest their money, and after the expiration of time, interest from the mined blocks of coins is charged to the miner's deposit. Many people found this mining method much more convenient - no need to suffer with the selection of iron, its installation and configuration.

Mining for beginners: how not to do it

If you still want to start mining coins with your own iron, then you need to adhere to several mandatory rules:

The most profitable cryptocurrency for mining in 2017

Most recently, on September 9, 2016, the first launch of a cryptocurrency called "Zcash" took place. It was then that the popularity of mining on their own farms grew again. People who are now mining on their own, relatively inexpensive farms almost certainly mine Zcash. This is due to its several clear advantages:

• Firstly, Zcash appeared quite recently, and already in this short time managed to gain trust - there is no need to doubt its reliability. Zcash has a limit of 21 million units, which is quite a lot and which practically rules out a drop in prices.
• This cryptocurrency is one of the few that creates complete confidentiality of all your payments, in simple terms - anonymity.
• Zcash is constantly increasing in its value, now it is already more than $ 100, and in the future its price will only grow.

Today it is one of the most profitable cryptocurrencies for mining with your own farm. In order to be able to mine Zcash, you definitely need a 64-bit operating systemwith at least 4GB random access memory... If you have assembled a really powerful farm, costing at least 100 thousand rubles, then you can get Zcash quite efficiently. Now this cryptocurrency is developing well, and I do not think that it will fall in price in the near future. In addition, Zcash is also suitable for cloud mining. On the network, a huge number of services provide the service of buying contracts for a year for this currency, and people are eager to buy. As a result, Zcash is an excellent, rapidly developing, reliable and profitable cryptocurrency for mining, which in 2017 will be well suited both for mining on your own farm and for using cloud mining.

Top 5 profitable cryptocurrencies for mining

The list of the most profitable cryptocurrencies for mining in 2017 consists of both those that have already appeared long ago and those that are completely new:

Perhaps the founder and progenitor of the entire sphere of virtual money, which arose back in 2009. Yes, all those problems with the complexity of bitcoin mining have a place to be and have not disappeared anywhere. However, a huge number of experts are predicting prosperity for Bitcoin in 2017, as well as an increase in profits from its mining. Despite this, I do not recommend investing in the purchase and assembly of your own farm for mining bitcoin, as the risks of "burnout" are too great. Cloud mining of bitcoin is the path to success in 2017. With a good investment, you can make great money. Of course, it is impossible to call bitcoin in 2017 the most profitable cryptocurrency for mining, but its relevance and profitability with the right investments are obvious.

This is a relatively old cryptocurrency, created back in 2011. The code used in litecoin is very similar, if not identical to the bitcoin code. The main advantages of Litecoin are the almost complete absence of inflation, and besides that, there are also low commissions, an improved encryption algorithm. It used to be very easy to extract Litecoin on computer hardware or using your own farm, but in 2017 the complexity has grown so much that no one even thinks about mining it on their own hardware. The situation is completely different with cloud mining. Many experts expect a sharp rise in the value of Litecoin coins, so it's time to buy contracts.

This currency is called "Ether" by many miners. The launch date is July 30, 2015, that is, it is a relatively young currency. Its value has always fluctuated up and down. At the moment, the price for one Ether coin is just over $ 350. Agree, this is pretty good. Since this currency is relatively small, its production with the help of our own farms is already more promising. Of course, you will have to invest quite seriously, but all this will most likely pay off in full. Cloud mining, as always, does not stand aside and is just as relevant for ether as for any other virtual money. The likelihood of a sharp rise in the value of Ethereum in 2017 is very high, which is another reason to pay attention to it. Based on all of the above, I think this will be the most profitable cryptocurrency to mine in the near future.

A very young currency, created back in 2016. Its initial cost was approximately $ 0.1, and in just 7.5 months it grew 70 times! Many experts agree that the development of stratis will be similar to the development of Ethereum. Ether in just a year rose from $ 20 to $ 350, and its peak was $ 420. As a result, it turns out that investing in stratis now is to get great profits later.

This currency is an analogue of bitcoin and is as impressive as the previous ones with its growth. It was founded in 2013, and has grown in value by as much as 7000 percent in almost a year. Impressive performance. Of course, in 2017, we most likely will not see such a scale of growth, but still it will inevitably be.

Where is the most profitable to mine cryptocurrency?

As I said, cloud mining is gaining more and more popularity among miners. This is due, first of all, to convenience. No one wants to first think about what kind of hardware to buy, how to install it and prepare it for mining. In cloud mining, you just need to make a deposit, and the company that leases the power will take care of the rest of the difficulties.

Now there are many services, that is, pools that provide cloud mining services for cryptocurrency, and this list will feature the best of them:

This pool has already established itself as a reliable and convenient service. It was founded and launched since 2014. The well-known bitcoins are mined here. Judging by user reviews, this pool does not have any drawbacks at all - honest, reliable, convenient, profitable.

On this pool, you can mine not only bitcoins, but also "ether", dash. It works as follows: the program is installed on your computer, and then it automatically extracts currency. Withdrawals are made to the exchange or to your personal wallet.

Another reliable and convenient service where you don't need to register at all. Withdrawals can only take place in bitcoins, and exchange operations are carried out automatically.