My home computer keeps mining bitcoins 24 hours a day, can I get bitcoins?

in hive-150232 •  4 years ago 

My home computer keeps mining bitcoins 24 hours a day, can I get bitcoins?

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If you really want to mine, then join the mining pool. Some mining pools will distribute the income according to the computing power after mining the coins, but I think the income that can be low. Of course, it is not impossible to mine by yourself. This mining is originally a problem of probability. If you are lucky enough, you may dig one in 1 second, but the probability may be the same as buying a lottery ticket, or even lower. If you want to mine cryptocurrency without upgrading the hardware, it is recommended to switch to a mining pool that uses a POS consensus mechanism.

It's just uneconomical to be able to mine Bitcoin. The earliest mining was done by ordinary home computers. Now that there are professional mining machines, computer mining is not competitive at all. In terms of current electricity bills, the cost of digging a bitcoin on your home computer may be many times higher than the market price of bitcoin. Therefore, from the perspective of market economy, it is completely meaningless to mine Bitcoin on a home computer. It is recommended to consider going to the exchange to invest in the secondary market. There are many good exchange control options, such as coinbase, ZB.com, bitmex, etc.

The difficulty of bitcoin blocks is gradually increasing. The greater the difficulty, the less rewards. So home computers are almost impossible to succeed. It is still recommended to invest in the secondary market.

You can think of mining as buying lottery tickets. A computer can buy thousands of lottery tickets per second. Computers with more computing power can buy them faster, but only a specific one wins the prize. Then you are thinking about how much computing power your home computer has to compete with other people's large computing power computers.

Mining Bitcoin is actually a solution to a hash function, which is the so-called proof of work. The difficulty of obtaining this proof of work changes dynamically with the change of the entire network's computing power to ensure that a new block is generated every 10 minutes on average. The Bitcoin mining mechanism is that the loser can't get anything, which means that the Bitcoin reward of a certain block is not evenly divided by computing power, but is exclusive to the people who calculate it. In the early days, the computing power of the entire network was relatively low, and it was easier for home computers to take a share of it. But now that there are more and more miners, it is more and more difficult to obtain proof of work, so home computers may never be able to mine Bitcoin. In fact, in addition to Bitcoin, Ethereum 2.0 is now worth considering. For example, QETH from ZB.com lowers the threshold of ETH2.0 mining. If you want to consider the cost of mining, this would be a good choice.

In the field of digital currency mining, no one has used home computers for mining for a long time, and most of them use relatively cost-effective mining machines to mine. They set up their own mines and mine in some areas where electricity costs are relatively cheap, which is more cost-effective.

You can mine Bitcoin, but you cannot rely on it to make stable profits. Because the so-called mining is to use a hash function to calculate a random number from an account file that everyone has. If this number is less than a value, even if it is mined, you will be rewarded with 25 bitcoins. Even with a calculator, you may be able to find it, but probability is better than nothing.