Mining Bitcoin in 2018 with GPU Based Cryptocurrency Mining in Kendall
People are mining bitcoins at an insane rate. This is causing an increased demand for hardware at an all-time high. Many ASIC miners so far in 2018 command values double their asking price just a few months into the New Year.
Naturally, this arises a common question amongst many prospective cryptocurrency miners: Is GPU based cryptocurrency becoming more viable with the insane prices for ASIC hardware? Your friends from Crypto Realm want to answer this while providing some information on GPU based cryptocurrency mining in Kendall.
Mining for Bitcoin with GPU Hardware
Cryptocurrency mining is a mildly misleading term. These individuals and groups don’t really mine per se. Instead, cryptocurrencies like Bitcoin are based on blockchain technology. Blockchain is essentially a public ledger of safe, secure digital transactions.
A miner is simply a person or business that contributes their computational power to the blockchain network. This power might derive from a GPU, ASIC, CPU, or FPGA. In the early days of Bitcoin’s lifecycle, mining was almost exclusively CPU-based. It was even possible to mine Bitcoins with machines as a minute as a Raspberry Pi.
However, as the networked continued to grow, the difficulty rose in turn. Miners evolved as well, mining for Bitcoin with GPU rigs. Bitcoin continued evolving, creating the need for yet another exponential power increase.
ASIC miners that roughly value-out at approximately $2000-$3000 today can perform the mining work of 12,000 CPUs, an equivalent value of about eighteen million dollars. Clearly, in this scenario, cryptocurrency mining with an ASIC system makes the most sense.
Bitcoin Network Size Affects the Efficiency of Miners
It is important to consider how the size of the entire mining network affects the efficiency, as well as the viability of cryptocurrency mining.
Many people assume that with more miners entering the Bitcoin network, the more Bitcoin they can mine. Unfortunately, this is simply not true. Bitcoins release at the same rate no matter the size of the Bitcoin network.
Also, Bitcoin imparts a fixed supply and fixed schedule that miners follow. When Bitcoin first began at the start of 2009, Bitcoins released at a rate of 50 coins every ten minutes. It didn’t matter whether the network boasted 10 miners, or 10 million.
Today, Bitcoin releases at a rate of 12.5 bitcoins every ten minutes. Consequently, with the explosion of Bitcoin popularity, the network reflects a roster increase of nearly 10,000 percent. To put this into perspective, without the intervention of ASIC mining, this would represent a figure of 25 billion CPU users. This means that a CPU miner is 200 times more likely to hit the lottery than ever find a Bitcoin.
Mining Bitcoin with GPU based cryptocurrency mining in Kendall does level the playing field somewhat. Constructing a rig featuring six GPUs provides a mining equivalent of 180 CPUs. For this reason, GPU based cryptocurrency mining in Kendall dramatically increases your odds.
Hope is not Lost Mining Bitcoin on GPU Hardware
Although the cryptocurrency mining field has seen substantial transformation due to increases in miner counts as well as threats of decreasing mining profitability, there is still extensive possibilities for GPU based cryptocurrency mining in Kendall.
An ASIC computer is purpose-built cryptocurrency mining equipment for specific algorithms. However, some companies now build ASICs for alternative or Altcoin algorithms. Unfortunately, this is leading to a situation where the cryptocurrency mining market is becoming overrun with ASIC miners.
Nonetheless, ASIC miners offer consumers increased computational power per watt, in addition to price. They outperform graphics cards on numerous different levels. Many beginner miners display unhappiness when they discover that they can only attain true profits within a short time period utilizing costly ASIC machines.
However, GPU based cryptocurrency mining is still alive and well for miners that target alternative coins. These include Ethereum, Zcash, ZCL, Litecoin, and many more. Despite Bitcoin mining’s humble beginnings of miners producing numerous coins utilizing their home PC death, with some ingenuity, miners can still obtain profits so long as they focus on mining the right cryptocurrencies.
GPU Based Cryptocurrency Mining in Kendall from Crypto Realm
Crypto Realm is cryptocurrency company located in South Florida. We serve as a vital resource for individuals in the community that want to learn more about anything concerning the cryptocurrency industry. This includes potential miners, investors, speakers, etc.
Our team can accomplish transforming individuals’ tertiary interests in cryptocurrency into blockchain and cryptocurrency mastery in a short amount of time. We accomplish this by providing hardware, training, and hosting solutions in the Kendall area.
The Crypto Realm store offers the latest and most advanced GPU based cryptocurrency mining in Kendall as well as ASIC based systems. Our training programs feature everything from basic, entry-level knowledge, to advanced mastery courses. Finally, Crypto Realm hosting services offer our clients a thermally-controlled, secure environment to store and operate their machines efficiently, and reliably.
Our services encompass anything regarding the cryptocurrency realm. We obsessively commit to providing our customers with all the equipment and education they need to realize their dreams in cryptocurrency.
When you select our company to help advance your crypto endeavors, you can experience a savvy, enthusiastic staff with a wealth of knowledge on all cryptocurrency subjects. For more information on GPU based cryptocurrency mining in Kendall from Crypto Realm, contact our expert staff today. We will always put you first, ensuring that you possess everything you need to make cryptocurrency work for you!