The digital currency market, especially bitcoin, is a market that was so unknown to the public until a few years ago that it was often confused with online games or scams, and it was not thought that one day everyone would be looking to buy. Be a bitcoin miner . But today we are witnessing the phenomenon that even people who are not very friendly with cyberspace and the digital world know bitcoin, and there are thousands of people in every city who can get in different ways, from legal methods to underground and illegal methods. , Are making money this way.
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In this article, we want to briefly and without a long intestine to examine whether buying a bitcoin miner is good for investment or not. If you have any doubts about whether or not you have a miner, follow this article to the end.
Buy a miner or set fire to money ?!
Bitcoin mining is one of those economic activities that can make a good profit if you do it carefully, but if you do not pay attention to the details and insist that you do something quickly without considering all its aspects. Run, rest assured that you will have nothing but regret.
Before we start to double the cost and profit, we have to offer you that the easiest and painless way to earn money from digital currencies is the same as mining or mining rent, which we have discussed in detail in another article on the same site. . However, let’s take a step-by-step look at buying a Bitcoin miner.
In the first step, you need to provide a device that has high power consumption and high processing capacity in the SHA256 algorithm. The capacity of minor devices is measured in units per second (Th / s). For example, look at the Ant-Miner S17 in the image below:
This device has a power equivalent to 56 tremors per second and consumes an average of 2600 watts of electricity per hour. Let us introduce you to another device and then compare them.
The device you see in the picture above is known as the Whatsminer M3, which consumes 2100 watts of power per hour, giving you a processing power of approximately 12.5 watts. At first glance, the first device may win this comparison, but the story is not so easy. Buying a minor device has only one winner and that is the manufacturer of the device, not the buyer!
Miner device profit and loss parameters
You may have heard that bitcoin is a digital currency with high transparency and high privacy. This means that all transactions made in the Bitcoin network from the beginning have been recorded and can be fully tracked, but it is not possible to know who each transaction belongs to. We have the same high transparency in all mining parameters.
Difficulty, Total Network Mining Power of Bitcoin Network (Bitcoin Hashrate), Bitcoin Price, Extraction Rewards for Each Bitcoin Block and the Completion Time of Each Block are quite clear parameters that affect the profitability of mining. . These are the parameters that every person should consider before buying a minor device. But how?
The extraction bonus for each block is halved every 4 years, in other words, the bitcoin supply is halved every 4 years. The difficulty of the Bitcoin blockchain network is updated almost every few days, and only in the case of the network difficulty does it decrease, and extraction becomes easier for mining devices when the price of bitcoin drops sharply. In other cases, this parameter increases every few days and extraction becomes more difficult for the devices, in other words, the extracted bitcoin decreases. Of course, the total bitcoin network mining power parameter also directly affects the network hardness, so that every day as the number of miner devices connected to the network increases, the hardness increases so that the mining process is distributed evenly between the devices.
Now that you are familiar with these parameters, do you think it is more profitable and wise to buy a bitcoin miner or rent it for a short time?
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