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Digicoin

Bitcoin mining equipments.

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When Bitcoin first started, there were not a lot of miners. Satoshi and his friend Hal Finney were a couple of the only people mining Bitcoin back at the time with their own personal computers (CPU mining)

 

Using your CPU was enough for mining bitcoin in 2009, since mining difficulty was low. As Bitcoin started to catch on, people looked for more powerful mining solutions.

 

Gradually, people moved to GPU mining. A GPU (graphics processing unit) is a special component added to computers to carry out more complex calculations. GPUs were originally intended to allow gamers to run computer games with intense graphics requirement. The mining power of one GPU equals that of around 30 CPUs.

 

 

Another evolution came later on with Field-programmable gate array (FPGA) mining. FPGA is a piece of hardware that can be connected to a computer in order to run a set of calculations. They are just like GPUs but 3–100 times faster. 

 

Finally, around 2013, a new breed of miner was introduced  Application Specific Integrated Circuit (ASIC), and these were pieces of hardware manufactured solely for the purpose of mining Bitcoin. 

Edited by Digicoin
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How I wish I knew about bitcoin at the time, It was mining the first block of Bitcoin using a laptop whose specifications are very bad nowadays and can not even run the current games !!
In any case, yes, the difficulty of mining has increased tremendously, prompting programmers and companies to invent devices with a high capacity of mining, which is still evolving constantly to remain able to mining bitcoin due to the high difficulty of mining constantly.

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This write up is really educative. I can know now that if I want to mine, ASICs are the best for mining. 

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12 hours ago, Goodcoin said:

This write up is really educative. I can know now that if I want to mine, ASICs are the best for mining. 

Yes, especially, if you want to mine bitcoin. But for altcoin, FGPA, GPU and even CUP can still be used to make profit depending on the type of altcoin to mine.

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On 12/3/2019 at 12:36 AM, Digicoin said:

Yes, especially, if you want to mine bitcoin. But for altcoin, FGPA, GPU and even CUP can still be used to make profit depending on the type of altcoin to mine.

Yes. Like monero for example, it s to some extent ASIC-resistant. And they are making it more friendly with CPU. So, there are somecoin that do not need GPU, FPGA and ASIC for mining. But, mining bitcoin needs ASIC to be profitable. 

Edited by Goodcoin
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Yes this are the main equipments for mining, but they are expensive and the mining as a general idea is requiring a lot energy power, so providing those is very important 

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Mining in the begging of bitcoin was very easy and you can mine a 100k Satoshi in a day with your laptop now with the price is growing up it's to difficult to mine any thing with your computer so i leave this way of earning

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39 minutes ago, scorpiali said:

Mining in the begging of bitcoin was very easy and you can mine a 100k Satoshi in a day with your laptop now with the price is growing up it's to difficult to mine any thing with your computer so i leave this way of earning

Mining is now very difficult to the extent that miners are now collaborating to form mingng pool. This also makes it more difficult. Even before starting mining now, someone need to calculate if it can be profitable for him because it might not be profitable.

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5 hours ago, Goodcoin said:

Mining is now very difficult to the extent that miners are now collaborating to form mingng pool. This also makes it more difficult. Even before starting mining now, someone need to calculate if it can be profitable for him because it might not be profitable.

Yes that's it mining pool is the solution now with the difficulty of mining lonely you can't make any profit after pay for electricity you got nothing as you said

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15 hours ago, Migo said:

Yes this are the main equipments for mining, but they are expensive and the mining as a general idea is requiring a lot energy power, so providing those is very important 

You are right. The ASIC is the mist productive and most efficient but is is costly. You will can get ASIC with 50THash/s at $19,000. So much expensive.

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On 12/2/2019 at 7:37 AM, Digicoin said:

When Bitcoin first started, there were not a lot of miners. Satoshi and his friend Hal Finney were a couple of the only people mining Bitcoin back at the time with their own personal computers (CPU mining)

 

Using your CPU was enough for mining bitcoin in 2009, since mining difficulty was low. As Bitcoin started to catch on, people looked for more powerful mining solutions.

 

Gradually, people moved to GPU mining. A GPU (graphics processing unit) is a special component added to computers to carry out more complex calculations. GPUs were originally intended to allow gamers to run computer games with intense graphics requirement. The mining power of one GPU equals that of around 30 CPUs.

 

 

Another evolution came later on with Field-programmable gate array (FPGA) mining. FPGA is a piece of hardware that can be connected to a computer in order to run a set of calculations. They are just like GPUs but 3–100 times faster. 

 

Finally, around 2013, a new breed of miner was introduced  Application Specific Integrated Circuit (ASIC), and these were pieces of hardware manufactured solely for the purpose of mining Bitcoin. 

This were the history of Bitcoin and innovations of computers are applied for mining more coins. It is really a lot of innovations happened back when it Bitcoin was not as popular as of now.

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i bought my first ASIC miner in late 2016. i bought some baikal mini miner to mining altcoins with x11, not a bitcoin. because i know that mining some bitcoin is difiicult back then. i get a lot of profit when mining those altcoin. after that i bought 2 Bitmain antminer L3+ to mining litecoin and DOGE. those price was rise back then. i get my ROI in 2 months.

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the main equipment to exploit this is too expensive with that capital you can invest and make better profits, mining is now difficult to make a profit.

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On 12/4/2019 at 12:27 AM, Digicoin said:

You are right. The ASIC is the mist productive and most efficient but is is costly. You will can get ASIC with 50THash/s at $19,000. So much expensive.

You are very right. Many people will be talking about electricity not know that the number one to consider are ASICs which are very expensive. Then, electricity follows.

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Mining is really required with a high tier equiments, but lets said you are already mining, the first thing first your gonna face is the electricity cost, in mining if you have free electricity its good because you can really earn from it, however if do not, then your mining will just end up for paying your electricity.

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On 12/2/2019 at 12:37 AM, Digicoin said:

When Bitcoin first started, there were not a lot of miners. Satoshi and his friend Hal Finney were a couple of the only people mining Bitcoin back at the time with their own personal computers (CPU mining)

 

Using your CPU was enough for mining bitcoin in 2009, since mining difficulty was low. As Bitcoin started to catch on, people looked for more powerful mining solutions.

 

Gradually, people moved to GPU mining. A GPU (graphics processing unit) is a special component added to computers to carry out more complex calculations. GPUs were originally intended to allow gamers to run computer games with intense graphics requirement. The mining power of one GPU equals that of around 30 CPUs.

 

 

Another evolution came later on with Field-programmable gate array (FPGA) mining. FPGA is a piece of hardware that can be connected to a computer in order to run a set of calculations. They are just like GPUs but 3–100 times faster. 

 

Finally, around 2013, a new breed of miner was introduced  Application Specific Integrated Circuit (ASIC), and these were pieces of hardware manufactured solely for the purpose of mining Bitcoin. 

I like article. It  is an educative one. For mining bitcoin now. ASICs are needed from your explanation. Thanks for this article.

 

Are ASICs expensive?

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Think of a Bitcoin ASIC as specialized Bitcoin mining computers, Bitcoin mining machines, or “bitcoin generators”. Nowadays all serious Bitcoin mining is performed on dedicated Bitcoin mining hardware ASICs, usually in thermally-regulated data-centers with low-cost electricity.

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Yes, there are currently many tools for mining. Such as ASIC Miner, USB Miner, and old models of GPU and CPU mining.

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On 12/3/2019 at 9:23 AM, Migo said:

Yes this are the main equipments for mining, but they are expensive and the mining as a general idea is requiring a lot energy power, so providing those is very important 

Yes. The latest ones are ASICs and they are very expensive compared to their productivity. I prefer not to mine.

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1 hour ago, Goodcoin said:
On 12/3/2019 at 4:23 PM, Migo said:

Yes this are the main equipments for mining, but they are expensive and the mining as a general idea is requiring a lot energy power, so providing those is very important 

Yes. The latest ones are ASICs and they are very expensive compared to their productivity. I prefer not to mine.

That is why many people do not do mining because of financial problems that are required to pay high fees. I myself am still unable to do mining, it's better to trade.

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19 hours ago, Man said:

That is why many people do not do mining because of financial problems that are required to pay high fees. I myself am still unable to do mining, it's better to trade.

Mining would take long time before profiting from it. It would take more than two to three years if done correctly. So, some people just like to hodl while some do trade.

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On 12/6/2019 at 3:03 PM, hmind said:

Yes, there are currently many tools for mining. Such as ASIC Miner, USB Miner, and old models of GPU and CPU mining.

But this is only earn small amount of profit and this is not worth to do especially if you are in country that electricity is so expensive.  


Selling IUOx token for discounted. 

 

Check IOU rating here & website 

https://icomarks.com/ico/iou

https://iou.io

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2 hours ago, Wish107.5 said:

But this is only earn small amount of profit and this is not worth to do especially if you are in country that electricity is so expensive.  

Even, without electricity, mining is expensive. ASICs that cost $19,000 can only mine 0.002 satoshi if it join mining pool. So, it will even take years to get back the ASIC money.

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6 hours ago, Goodcoin said:
On 12/6/2019 at 10:51 PM, Man said:

That is why many people do not do mining because of financial problems that are required to pay high fees. I myself am still unable to do mining, it's better to trade.

Mining would take long time before profiting from it. It would take more than two to three years if done correctly. So, some people just like to hodl while some do trade.

It really is very long if it takes years. I think mining using GPU, after the tool is ready. We just run it and get income from mining. Well, even though we need a process to return our initial capital.

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Hobby Bitcoin mining can still be fun and even profitable if you have cheap electricity and get the best and most efficient Bitcoin mining hardware. Bitcoin mining is competitive. It’s not ideal for the average person to mine since China’s cheap electricity has allowed it to dominate the mining market. If you want bitcoins then you are better off buying bitcoins.

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