Crypto Mining - The Window of Opportunity is Narrowing
The Time is Now, Tomorrow Will Be Too Late
NVIDIA AMD and ASUS all recently came out with mining centric video cards (yes thats right, you mine with a GPU now). There are now entire companies around the world that are mining crypto currencies, warehouses filled with raw processing power. For all intents and purposes, lets think of them like server farms.
To make this craze....crazier its the little guy getting priced out of the market as usual by something known as difficulty. As the blockchains grow, the difficulty increases and therefore the required processing power. Solo mining just isn't profitable. Cryptocurrency is going mainstream, accepted not just by peers, but now retailers, banks and entire nations. The only option is joining a pool - that is, if you want a piece of the computing action.
What Is there to mining?
There are a few kinds of pools out there that you can contribute your computing power to. I highly recommend you research extensively, a fool and their money are quickly parted. Especially downloading random software from the internet that even though your virus scanner said was a virus seemed innocuous (see latest monero mining incident https://steemit.com/adylkuzz/@foreveronline/monero-mining-virus-or-adylkuzz-or-hot-news).
Ironically, with regards to downloading pool mining software, if your virus scanner doesn't tell you its a virus, you need a new virus scanner. So before you take the plunge into crypto mining it is absolutely critical that you do the necessary research and take the necessary precautions - and of course never give out personal information.
Now I'm not recommending that you go out and start mining crypto currency, its quite complicated if you have no technical background. If you are of the less savvy, Steemit is probably the best place for you to participate in cryptocurrency and blockchain.
But! If you are savvy, you've been hemming and hawing about it for some time now... This may be your last chance to profitably participate in crypto mining. Its going mainstream, Bitcoin and the alt coins are here to stay (unless they fail by their own means haha).
This is your last chance to consider yourself a miner.
One last thought on the matter, at what point do all these ICO's start to dilute the total computing power of each respective blockchain, could it be profittable then ... Probably not, we'll have quantum computing.
Resteem . Upvote .
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I agree. Soon it will be almost impossible to start mining because of these companies.
trading is more better then mining , now its to difficult & Unprofitable
thanks for this post
following you
Thanks, there are a lot of cryptos out there to mine, you have to research which would be profitable with what equipment.
What's your opinion of nicehash? i ran nheqminer for a while on Linux but switched to windows and now just run the straight up nicehash application. both on linux and windows i found the convenience of being paid in bitcoin well worth the meager loss in profit.
Honestly, dont have much of an opinion. You'd have to try the other ones on your rig, and it will depend on the pool, your equipment and your internet connection. GPU mining is superior and from what I know nicehash is a cpu miner with the gpu added on later. You may find the gpu centric miners are superior. Depending on your pool, look through the links of supported miners and decide.
Mining has to due to with the timing of the hash difficulty and the cost of mining hardware and electricity. If you believe in the future of an alt coin and it's easy to mine then mine away.
yes exactly! which is increasing as the cryptos go mainstream. So nows the time to jump on or not.
upvote your post my friend
thanks!