Bitcoin is called the future of currencies. It has become so much popular that many people are interested to go with it! there are various ways to mine bitcoin. Personal mining is one of those. But it is strongly recommended that not to mine personally, cause personal mining is very costly.
Mining bitcoin nowadays requires ASIC (application specific integrated circuit) and you cannot mine bitcoin through a normal computer. This ASIC chips are designed specially for mining purposes. These chipset is not cheap to buy.
If you are so eager to mine bitcoin, you need to assure that you have a strong network connection and cheap electricity connection. You have to calculate your percentage of profit by using bitcoin mine calculator to see the consequence from your mining.
Here's the first thing you should do for bitcoin mining -
Chose the right hardware
If you have set up your mind for mining, Buy yourself a powerful ASIC miner. There are tons of power supplies for this chip and some are more efficient than other. choose which one is right for you, as for suggestion, I think the best one is (Bitmain's AntMiner S9) and it is priced, maybe 2320 US dollars. this is one is definitely huge costly and you should calculate the odds for buying this.
Another option to buy this hardware is, you may buy it second hand. But remember, mining hardware goes extremely hot and may burn out. So there is no guarantee that you will be successful to make a profit out of it!
thanks for reading the post. If you want to mine bitcoin seriously, these are the most basic things you have to remember.
stay tuned, there will be more posts coming in this subject and i will try to explain some of it.
Thank you for providing this information. While reading this, I had an idea for a potential business opportunity. What if there was a platform that leased out these miners for a share of bitcoin profit? Assuming bitcoin were to keep increasing in price throughout the future, I think it would be a great opportunity.
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then i think if there is a new platform, for every miners on that new platform, they may get mining reward and they have to contribute some bitcoin to the platform! There should be some rules to follow and make a peaceful place for the miners. At last, let's hope bitcoin market rise to its glorious day again <3
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