Crypto Academy Week 5 Homework Post for [Professor @besticofinder] @harry21

Q, NO 1. What is Cloud Mining?

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ANS

Cloud Mining - Mining is a cryptocurrency, including BTC (Bitcoin) and LTC (litecoin), using specialized cloud services. This is a new model that creates groups (mining ponds) to earn more revenue from traditional distributed mining through the management of specific equipment by the contractor. That is, literally, a particular company buys mining equipment, and then sells it to eliminate consumers, and the storage and maintenance of the equipment, the payment of electricity, the Internet connection is borne by the company. The scheme eliminates potential hassles for consumers such as internet and electricity disruptions, difficulties in arranging and maintaining services in goods, noise, and heat. Some companies charge a commission for their work, which includes electricity and maintenance charges. But in any case, it is much more beneficial for the end-user than storing things at home. In tech farms and data centers, such companies are usually built in areas where cheap electricity and cheap heat are abducted. Typically, these companies are engaged in cloud and cloud bitcoin mining using the ASIC of mining equipment in Lattice.

This section is dedicated to cryptocurrency sites, including cloud mining services and bitcoin. In the table below you will find a list of the best and most trusted sites for cloud mining, including Bitcoin, Latecoin, Dogo Skin, which has been around for many years, and new cloud mining services that Launched in 2015 and 2016. Some of these services offer a bona fide bonus as a free hashtag entry, so you can review the performance of their website for free and without attachments.

Bitcoin Cloud Hash Services

1. Eobot

It is by far the best solution for cloud mining. Abbott offers a solution like no other. With Abbott Cloud Mining, you can purchase parts of the sample cloud. Pay with PayPal or use cryptocurrencies and use a wide variety of cryptocurrencies such as Liptikine, Ethereum, Bitcoin Cash, Dodgecoin, Ripple, Dash, Golim, and Ethereum Classic.

Every cloud, for example, runs SHA-256, for which you get 1.0 GHz per second. Due to the difficulty level, this bitcoin is preferred. With CloudScript, you will get 1.0 MHz per second, which is more suitable for light parts and other not very hard parts.

Since you can start small, it's a great choice for a beginner who just wants to dive into the Bitcoin mining jungle. Getting started is simple and you can start with less than 10. You will receive mining updates every 60 seconds, making it easier for you to track your profits. They also offer calculators on their website so that you can easily calculate income for example from cloud.

2. Hashflare

Hashflier is one of the leading cloud mining providers operating since 2014. They offer custom pool mining solutions, you can decide which pool you want to mine to make the most money possible. With transparent fees and commissions, you can always track how much you've actually earned, including the fees involved.

Like the rest of the bitcoin cloud mining providers, they offer two types of mining. Script and SHA-256. They also have special packages for those interested in Ethereum, ZCash, and Dash mining. Pricing is easy to understand and is competitively priced.

3. Genesis Mining

With an easy-to-use interface and an easy way to start bitcoin mining, Genesis Mining is a strong contender as a best cloud mining provider. Genesis Mining is one of the oldest cloud mining providers and therefore has considerable experience in this area. They are also the largest bitcoin mining company in the cloud, proving they can handle large amounts while still being successful.

You can allocate your hash power to different coin mines at the same time. So, you can use an example of several cryptocurrencies. Can Use Not only is it fun and easy to use, it also diversifies the investment risk.

Genesis Mining offers different pricing packages depending on which you are interested in mining as well as how much hash power you want. They are a bit more expensive than others in the field, but their help and experience is well worth it. Weight.

The benefits of cloud mining.

Without cooling towers or fans, the home becomes a place of peace and quiet. Like miners, using algorithm hashing, the CPU is constantly being used, the motherboard heats up, and to avoid hardware malfunction, it should be run in a cold environment.
To avoid the constant operation of cooling equipment, the trend of electricity costs is very high. Almost no user can afford the high cost, so organizations involved in crypto mining come into play.
As soon as the miners realize that cloud mining is a lucrative endeavor, it becomes impossible to get rid of any material.
Since cloud mining companies can afford to buy cooling towers and equipment, aviation-related issues are excluded.

Disadvantages of cloud mining.

When certain cloud mining activities commit fraud, miners or users also share information about their keys and digital wallets.
In cloud mining, the work of miners becomes weaker and more transparent.
Cloud mining has no control and no smoothness.
Cloud Mining is first and foremost a service provider. If they mine the blockchain, they will receive something in return, indicating that it may be less profitable for the miner or the consumer.

Ideally, cloud mining is for people who don't have the time, aren't tech learners, and don't own any cryptocurrency-related equipment. Also, suppose you live in a country with very high electricity costs. In this case, it makes sense for you to outsource your mining operations to a lower-cost country.

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