The essence of mining (from the word mining – mining) – the creation of cryptomonet using a special algorithm. A unique data set (or block) is generated on the computer, which confirms the accuracy of payment transactions. A block consists of a hash of the previous block header, a transaction hash, and a random number. The chain containing all transactions is called a blockchain.
For each block found reward rely. Different currencies have it different. For example, the oldest and most expensive cryptocurrency – Bitcoins (Bitcoin, BTC) – it decreases twice every four years. Since 2016, the award is 12.5 BTC (about 32 thousand dollars), in 2020 its next decrease will occur.
The reward for the ethereum block (Ethereum, ETH) is 5 ETH (approximately $ 1,540).
The success of mining depends on the computing power of the computer that the miner has. The more, the higher the probability of receiving a reward.
In general, the calculations made to date show that equipment worth about a thousand dollars can pay off in six months or a year.
If you invest in the creation of farms 3 000-5 000 dollars, the profit may be 50 or more dollars a day. But these data can dramatically change (especially given the growth in the number of fraudsters).
To calculate the profitability of mining, you can use an online calculator.
Some experts believe that mining can be considered as an opportunity to receive a small additional income, but not as a way to quickly and surely enrich. Think of it as collecting gold dust, not gold nuggets.
Thus, to take risks or not, everyone decides for himself.
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