Everything you need to know about Bitcoin mining

Every single miner is operating at a loss. Even with 'free electricity', no miner in existence will EVER break even.

There is no such thing as 'free electricity', just as there is no such thing as 'free money' - it's just stolen from someone else.
But even if you suppose that electricity can be 'free', every Bitcoin miner currently available would never pay itself off.
There are only two 'pre-order' models which have a hope of breaking even, but as we all know in the world of fraud that is Bitcoin, 'pre-order' might just as well be called 'money-vacuum'.
Even these two pre-order models have ridiculously long break even times (with free electricity!):
Kncminer Neptune (Third Batch) - 151 days
Kncminer Mini Neptune (Third Batch) - 265 days
All the others will never break even, because if you look at the calculations, by mid 2015 they'll be making only a few cents a week when they have to earn thousands of dollars extra to break even. Not gonna happen.
The only two possible exceptions I can identify are the KNC miner Neptune (Second Batch) and the Spondoolies SP30 Yukon (pre-order, slated for September), which have a very small chance of just being able to break even by the end of it's total life - but definitely no profit.
Source: http://www.vnbitcoin.org/bitcoincalculator.php
submitted by lol_another_shill to Bitcoin [link] [comments]

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Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009. At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 ... Bitcoin is an internet protocol that enables the transfer of value over a communications channel like the Internet or radio. An easily understood application is decentralized digital currency; like being able to send a gold coin as easy as you send an email. But blockchain technology enables many things like a fridge that can pay for and restock itself or self-driving taxis. What is Bitcoin ... Mini Neptune. KnCMiner’s Bitcoin miner, the Mini Neptune, is the smaller version of the KnC Neptune, and offers a minimum 1.5TH/s which is an advertised hashing speed of at least 1,500 Gh/sec using the 20nm ASIC chips. It’s based on KnCMiner’s Saturn design, but the new Mini Neptune has improved upon existing models to decrease energy consumption by 30%. That all adds up, and customers ... One of the top Bitcoin miner machines available is the KNCMiner Neptune. KNCMiner has a few different options, but the Neptune really hits hard, while also being extremely efficient. This ASIC bitcoin mining hardware includes: Hash rate of 3000 GH/s or 3TH/s; Price: $5995 (Update May, 2014) Bitcoin is Secure. Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. Links. We Use Coins - Learn all about crypto-currency. Bitcoin News - Where the Bitcoin community gets news.

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bitcoin mining basics. hardware required and best software for mining.. hindi

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