People "mine" bitcoins using computers to solve complex mathematical formulas. Currently, about every 10 minutes, 25 bitcoins are "mined". All over the world, programs that produce complex mathematical calculations based on a certain formula are used to "mine" bitcoins. This mathematical formula is freely available, so everyone can check it out.
Bitcoin mining takes place not in one bitcoin, but in blocks. Initially, the block size was equal to 50 bitcoins, and now it has decreased to 25 bitcoins. A block of bitcoins is halved after every 210 thousand blocks are mined. A new block of bitcoins is mined on average every 10 minutes. Due to the fact that the block reward is decreasing, the total amount of bitcoins should not exceed 21 million bitcoins. Approximately bitcoin mining will end in 2032.
Is it possible to make money on bitcoin mining?
Since we decided to start mining bitcoins, it is important for us that the costs of investing in equipment and the electricity bill do not exceed the cost of the bitcoins received. I can immediately say that it is not profitable to mine bitcoins on your home computer, bitcoin cranes give much more Satoshi.
Every two weeks, the complexity of bitcoin mining increases by about 1.2 times.
Approximately 70% of all the bitcoins you have extracted will be in the first two months after the purchase of new special equipment for bitcoin mining - "hardware" with an increase in the complexity of the task by 1.2 times a week, the computer's performance in bitcoin mining will fall every week.
You need to download and install the "Miner" program on your computer. For mining bitcon, you can use a processor or a video card. Let's install the mining program GUIMiner or 50Miner. If we use a laptop to mine bitcoins, what can we earn? We load the Intel Core i5 core with calculations. The CPU load is almost 100% and the temperature is 90 degrees. In 4 hours of the GUIMiner program, 6 solutions were obtained. In just 4 hours, it turned out to be 60 Satoshi. This is, of course, very little!
Bitcoin mining requires the latest equipment, now btc is being mined on ASICs, which are quickly becoming obsolete for bitcoin mining. Ethereum is currently being mined on video cards. "Iron" can be sold in half a year, and again buy a new more powerful one for mining. But it is almost impossible to sell outdated ASICs.
An ordinary home computer is not suitable for such a purpose as bitcoin mining!
As for cloud mining of bitcoins, this is when you invest your bitcoins or your money in virtual capacities. I can say that during the year of my observation of the sites providing the service of cloud mining of bitcoins, all these sites disappeared, disappearing with other people's money. There is still a little profitable, but reliable bitcoin mining site EOBOT. There is a good bitcoin faucet on this site. You can mine not only bitcoins, but also other cryptocurrencies.