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What is the Most Profitable Way to Mine Bitcoins?

In order to profitably mine Bitcoin you need to buy your own ASIC mining rig. Mining Bitcoin with your GPU/CPU will cost more in electricity than it will generate in Bitcoin. Also, buying mining contracts on a cloud mining site is guaranteed to lose money in the long term. In order to make significant profits you need to buy a mining rig with a hash rate greater than 100 GH/s. Smaller mining rigs will eventually make profit, but it might take a year to break even and the profits wouldn’t be worthwhile. A 1 TH/s mining rig will make several thousand dollars of profit, and a 1 PH/s mining rig will yield millions of dollars of profit.

Here are some photos Bitcoin Mining farm:

Bitcoin mining difficulty is rapidly increasing, meaning you get less Bitcoin per hash rate with each passing month while electricity and maintenance costs stay the same. Generally Bitcoin mining rigs become obsolete 1-2 years after you purchase them. It is crucial to re-invest profits into new mining equipment if you want your Bitcoin mining operation to run long term, and it is common for miners to buy new equipment every month. Bitcoin mining is extremely lucrative, with $2.2 million of new Bitcoin up for grabs everyday. In the fast-paced world of Bitcoin mining the only way to get a share of those profits is to buy the newest and most powerful Bitcoin mining technology.

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Bitcoin mining difficulty is rapidly increasing, meaning you get less Bitcoin per hash rate with each passing month while electricity and maintenance costs stay the same. Generally Bitcoin mining rigs become obsolete 1-2 years after you purchase them. It is crucial to re-invest profits into new mining equipment if you want your Bitcoin mining operation to run long term, and it is common for miners to buy new equipment every month. Bitcoin mining is extremely lucrative, with $2.2 million of new Bitcoin up for grabs everyday. In the fast-paced world of Bitcoin mining the only way to get a share of those profits is to buy the newest and most powerful Bitcoin mining technology.

Faucet from which you can collect Satoshi.

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What is Bitcoin?
With the Bitcoin price so volatile everyone is curious. Bitcoin is extremely complicated and no one definition fully encapsulates it. By analogy it is like being able to send a gold coin via email. It is a consensus network that enables a new payment system and a completely digital money.

It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin was the first practical implementation and is currently the most prominent triple entry bookkeeping system in existence.

Who created Bitcoin?
The first Bitcoin specification and proof of concept was published in 2009 by an unknown individual under the pseudonym Satoshi Nakamoto who revealed little about himself and left the project in late 2010. The Bitcoin community has since grown exponentially.

Satoshi's anonymity often raises unjustified concerns because of a misunderstanding of the open-source nature of Bitcoin. Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.

 

What is a Satoshi?

A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC. Use the Converter to find out how much your balance is worth!

 

  • 1 Satoshi = 0.00000001 
  • 10 Satoshi = 0.00000010 
  • 100 Satoshi = 0.00000100  = 1 Bit
  • 1,000 Satoshi = 0.00001000 
  • 10,000 Satoshi = 0.00010000 
  • 100,000 Satoshi = 0.00100000  = 1 mBTC
  • 1,000,000 Satoshi = 0.01000000  = 1cBTC
  • 10,000,000 Satoshi = 0.10000000 
  • 100,000,000 Satoshi = 1.00000000 BTC