Factors That Influence Mining

[Sami balta 53]

As the activity of mining is intricate, it is prudent that you choose the right hardware. One has to keep in mind specific factors that affect the overall performance of a Bitcoin mining process. Let us discuss each factor.

[tienda 8776]

I m not expert in mining, but I think the very important and the factors that influence mining is the equipment you use to mine is very important before to start you inversion in buying machines you need to learn about the best choice.

[Hendy1 370]

Some things that affect mining are hardware equipment itself, the greater the hashrate that is produced, the greater the income we can and is also influenced by the value of cryptoccurrcy prices and maintenance costs to be able to run the hardware in the use of sufficient energy will require expensive costs. Those are some things that affect mining.

[kadayakito 765]

The hardware sounds confusing but really important, I didn't pay attention to it when I first exploited it. I think that anything involved in fishing is an important contributor.

[bliznec 22268]

For me, it remains an integral part that the hash rate of the bitcoin network is constantly increasing and thereby prevents the mining of bitcoin. But, new asic devices are being invented that are being updated. 

[duncun007 3577]

i think mining is pretty much affected by the price of electricity in the country you are going to start mining in, for example in my country its very cheap to run a mining farm.

[Zisan95 71]

For mining cryptocurrency, you need to invest a lot of money. You have to build a super computer with higher configuration. You also need a faster internet connection and graphics card.Mining is not profitable. Trading is profitable. Because, for mining cryptocurrency, you need to invest a lot of money. You have to build a super computer with higher configuration.

[Brushless4500KV 4214]

On 1/25/2020 at 12:04 PM, Sami balta said:

As the activity of mining is intricate, it is prudent that you choose the right hardware. One has to keep in mind specific factors that affect the overall performance of a Bitcoin mining process. Let us discuss each factor.

Since bitcoin is a high difficulty coin, you need lots of hashing power to mine it in large scale to bring profit for you. Mining tools with powerful processing power is an important factor in mining bitcoin. The second factor is effective cooling. It is better to choose regions with cold weather to establish mining farms because it will reduce cooling costs greatly and will increase your profit. Otherwise, you have to invest extra money to buy and install cooling devices.

[magd 5231]

Important factors affecting the mining process are the type of device used for mining and the availability of electrical energy. It is certain that the platform and the exchange rate have a close relationship with the success of the mining process, so I always say you should plan well before starting

[Shahud 1319]

device with a upgraded version and electricity are very important factors that directly affects the mining.you need a advanced device for mining 

Edited March 10, 2020 by Shahud
spelling mistake

[bitcoinb 1359]

On 1/25/2020 at 9:34 AM, Sami balta said:

As the activity of mining is intricate, it is prudent that you choose the right hardware. One has to keep in mind specific factors that affect the overall performance of a Bitcoin mining process. Let us discuss each factor.

Your topic is only about Bitcoin mining? So 1st thing to consider: the network difficulty... If you want to start BTC mining and get rentability, you have to invest a certain amount (not only 1) of the latest model of ASIC miner for the SCRYPT algorithm. Next you have to calculate the power consumption of your harwares + electricity costs from your electricity provider. Next, you have to decide if you start pool mining or solo mining (depending of your  total hashrate). Also consider the luck factor (for solo mining). In conclusion, I do not recomended to a solo investor to invest in BTC mining. I think that it's better to choose cloud-mining, for BTC or Altcoins.... If you really want to invest in ASICs, choose Altcoins, not BTC...

[Rickso 768]

On 1/25/2020 at 9:34 AM, Sami balta said:

 

Factors That Influence Mining

mostly there are 3 factors:

 

-global hashrate. more there is and less satoshi you will mine

-dificulty. more it is and less satoshi you will mine

-bitcoin price. since you pay maintenance cost in fiat currency, higher is the price and more you earn, lowere is the price and less you earn

[CryptoMaxim 2372]

First of all, a lot depends on the equipment. Different hardware uses different algorithms in different ways. The profit is also affected by the power consumption of electricity. Also, the Internet connection should be with a good ping.

[Dark_Sky 8489]

On 3/14/2020 at 8:35 AM, jack0 said:

there are many factors, mining difficulty is one of them, but unfortunately you cannot to anything about this matter.

That's right but mostly the common factor that really affects the mining is technical problem or bugs. 

The worst bug that I experienced was losing the satoshis I mined and realizing maybe that's a scam. 

[abualez 4106]

I do not know much about the factors affecting mining at home, but I only know these factors such as high temperature and use of the type of mining device and the speed of the net and The large power of a used computer ,Hidden mines that work as malware and are mining with you or manipulating your profits.

[jacker 1095]

For me there are 5-7 different factors that directly affect the exploitation. And especially important are hardware costs, electricity costs in your country. I am important to these two factors, so I analyze them very carefully. I will use my mining rig later.

[bitcoinb 1359]

On 1/25/2020 at 9:34 AM, Sami balta said:

Bitcoin mining process. Let us discuss each factor.

@Sami balta Actually, Bitcoin mining is good for people who can afford to invest thousands USD to their hadwares. Altcoins mining is a very good alternative. I suggest you to visit my 2 topics about my mining rig.

[u005c 30]

Not an expert, but as far as i know the number of competing cryptocurrencies and the cost of electricity are crucial. With the regard to the latter, it is logical to consider countries with cheap electricity available. For example, Iceland uses the significant number of natural sources in its borders to create energy. The country is able to create a sustainable source of electricity due to hydroelectric and geothermal plants. Georgia is a nice option as well. Georgia  has an attractive tax and regulatory climate for cryptocurrency miners. The taxes levied on miners are low because the law does not recognize mining as a taxable action. Actually lawmakers are very favorable toward cryptocurrency, having passed a number of laws that are designed to attract the blockchain industry to the country. 

[Birdal Yıldırım 8]

I thin so. However, the energy costs are the most important FACTOR.

[lehaPUSHKA2213 19]

On 25.01.2020 at 10:34, Sami balta said:

As the activity of mining is intricate, it is prudent that you choose the right hardware. One has to keep in mind specific factors that affect the overall performance of a Bitcoin mining process. Let us discuss each factor.

 

I think the most important thing is cheap ectricity and not too hot climate, otherwise there may be problems with equipment

[Mirandum 77]

On 1/25/2020 at 10:08 PM, tienda said:

I m not expert in mining, but I think the very important and the factors that influence mining is the equipment you use to mine is very important before to start you inversion in buying machines you need to learn about the best choice.

Sir can you please elaborate the machine's required for mining? Because i have been using my phone to mine and all I get are peanuts

[pacific 2268]

Thank you for raising this topic in the forum. I will try to explain the things about mining, and the factors that influences the mining process.

 

1. Algorithm: There are several algorithms involved mining process, if any algorithm fails to work, then it will affect the entire mining process.

 

2. Miners: Miners are dependent on hash speed, power consumption and costs per block. If any of these fails to work, then miners will be severely affected, and hence affecting the process as well.

 

3. Crypto Market: Due to the varying price in cryptocurrency market, it can create a great impact on mining revenue.