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Thread: How can I start bitcoin mining and earn money from it?

  1. #1
    Regular Member
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    Default How can I start bitcoin mining and earn money from it?

    Hi there,
    I wonder how can I start bitcoin mining and earn money from it? Any suggestions?

  2. #2
    Member
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    Oct 2018
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    Default Re: How can I start bitcoin mining and earn money from it?

    Mining Bitcoin isn’t difficult at all, but it is expensive. At this point, you can’t just go to Best Buy, purchase a PC, and start mining Bitcoin. You need specialized and often fairly expensive hardware (called an ASIC) if you want to mine Bitcoin.

    Aside from that, you need to look at the return. If you’re in a place where electrical power is expensive, you might find that mining Bitcoin doesn’t offer a good enough return. That’s why a lot of big Bitcoin miners in China are burrowing into mountains and using alternate sources of power for their hardware. Do the math before you spend a lot of money getting ready to do something where you might not see a return.

    Good luck if you decide to mine!

  3. #3
    Regular Member
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    Default Re: How can I start bitcoin mining and earn money from it?

    To mine Bitcoins you need specially designed hardware known as ASIC Miners. BITMAIN’s ASIC Miners such S9 are generally used by the Bitcoin miners , it can generate speed upto 20TH/s and costs around 2000 USD. That is only the buying , next comes running and maintenance cost. ASIC Miners consume huge electricity , so to run the ASIC Miner you will spend a lot on electricity and cooling. You can calculate your total expenditure based on your Electricity costs.Still before mining I advise to watch some blockchain ted talk and to understand better the process itself

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