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Bitcoin and Ethereum occupying market, Cloud Mining is it worth it?

Bitcoin and Ethereum occupying market, Cloud Mining is it worth it?

​With the continuous advancement of science and technology, the rise of blockchain technology has led to the development of decentralized finance, with Bitcoin and Ethereum occupying most of the market. These two currencies are mainly obtained through continuous calculation or storage of information through a computer, and rewards are obtained through certain rules. Cloud mining is worth it? At present, there are only two mining methods.

Users configure their own computer mining

Of course, the era of CPU mining has been surpassed by GPUs. Why can't you buy a graphics card at a normal price if you want to match your computer? Because they are all hoarded by civilian-level miners, ordinary mining refers to buying physical equipment to mine by themselves. Such mining methods involve (power supply, motherboard, graphics card, accessories, noise, heat dissipation, land occupation) or you configure the mining machine hosting to the sky-high price machine room

In the Bitcoin world, a data block is recorded approximately every 10 minutes. Cloud mining is worth it? All mining machines are tending to pack this data block and submit it, and the miner who successfully generates this data block eventually can get a bitcoin reward. Initially, 50 bitcoins of bitcoin rewards can be generated approximately every 10 minutes. But the reward is halved every 4 years, and now the Bitcoin network can generate 25 Bitcoins every 10 minutes

To successfully generate a data block, the miner needs to find the valid hash value, and to get the correct hash value, there is no shortcut to go but guess. The guessing process is the process of computer random hash collisions.

Mining speed, in professional terms, is called cloud mining, which is the ability of a computer to generate hash collisions every second. Cloud mining is worth it? In other words, the number of hash collisions that our mining machine can make per second is the computing power. Cloud mining is the ability to mine bitcoins. The bigger the computing power, the more Bitcoins you get, and the higher the rewards. The simple understanding is to use the "calculation" capabilities of physical devices to obtain cryptocurrency, as mentioned in the crypto wallet.

Mining through cloud computing power – cloud mining

Cloud mining means that you can enjoy the benefits after paying for the computing power mode corresponding to the cloud on the platform and using the platform to help you handle everything.

Background information: Cloud mining machine is the only mining model that provides low entry cost, low risk, and low cost. It is different from the computer mining model that requires the purchase of high-configuration hardware and professional maintenance. Cloud mining is worth it? Due to the complexity of mining and the dependence of external factors (such as mining difficulties, Bitcoin exchange rates, equipment costs, etc.), it is almost impossible to predict the amount of personal income. Therefore, cloud mining is a kind of low cost, low risk, and low cost. The way of mining is that you can buy mining power on the platform if you don’t want to set up your own mining machine and mine your optimistic cryptocurrency.

Players who have known Bitcoin mining should know that the Antminer S9, Whatsminer M3, Avalon futures miners, etc. are all fired to sky-high prices by scalpers, and the delivery is extremely slow, so they have to bear futures miners. Cloud mining is worth it? Time instability factors and time costs, the most important thing is that for consumer-level players, these noisy and power-consuming machines can’t be placed anywhere and cannot be hosted in high-priced computer rooms, and they are unlikely to be placed at home. Cloud mining is worth it? A new industry "cloud mining" has been established.