Mining equipment from Europe

There were times when shortly after the invention of bitcoin in 2008, only a regular PC (and some technical know-how) was required for profitable miner shop in Europe. The computer was left to run for a few hours or days, and then became richer by a few bitcoins. In the early years, the mining function was integrated even into conventional bitcoin wallets. Of course, the bitcoins won at that time were hardly worth anything. But those who still have their income today buying bitcoin miner from Europe are quite rich. After all, bitcoin today is worth more than $ 8000. The trend is rising sharply. There must be computer fanatics (nerds) who have become multimillionaires thanks to mining.

Bitcoin mining is a virtual gold mining

But the Golden days for buying ASIC miners in Europe are long gone. There are two reasons for this, first of all: as the computing power used to mine bitcoin increases dramatically, the income of each European miner decreases significantly. In General, the total number of bitcoins created by mining is halved every four years. Both effects result in a steady decline in miners’ incomes after buying bitcoin miner from Europe. If at first it was possible to work with normal processors, then later it took graphics cards with high performance (which are needed for video games) to profitably engage in miner shop in Europe.

But even using all the best and best equipment, it is becoming increasingly unlikely for every european miner to earn anything with mining. Because in mining, only the first person to solve each block that needs to be solved is always rewarded. Which computer it will be depends primarily on the processing power and the case.

How does mining work today?

The first exit for the miner in Europe was to unite in groups (so-called pools). All computers in the pool try to solve the same block together. Even today, under certain circumstances, it can be beneficial for those who are engaged in buying ASIC miners in Europe in the pool as a private person, using a PC with high performance and ASIC – especially since the bitcoins produced, and accordingly their shares, from this greatly rise in price. Mining in European countries in pools, however, is beneficial only when energy costs are not too high. With high electricity prices in Germany, mining bitcoins on personal PCs with high performance is unlikely to be more profitable if you combine with others in a pool and place in mining in Europe map.

Is there another way that even individuals without a lot of technical know-how can mine bitcoins today? One way out is offered by so-called mining providers in European countries. These companies tend to use large computing parks, which enable bitcoin mining to be carried out much more efficiently than on a small scale. Known ones, for example, Genesis Mining, a company founded by a German in Hong Kong (currently, however, does not offer new agreements), as well as a pool for mining Minergate, which also sells mining contracts for individuals. However, even in this field a lot of “black sheep”, and even in Bitmain Europe distributions has already reached the delay or loss of payments.

Do you want to become another point in the mining in Europe map?

The risk that the income from mining will no longer cover the costs appears, first of all, when the computing power in The bitcoin network continues to grow strongly (which can be in the long term, especially with the growth of the bitcoin exchange rate) or when bitcoin loses in value against the dollar. For a long time, income is likely to decline in one way or another. Therefore, mining contracts are not a solid investment, and have more in common with lotteries. Income from time to time can be very high, but it is not known whether it will turn out to make a profit from Bitmain Europe distributions for a long time.

Is it profitable to mining other cryptocurrencies?

In addition to bitcoins, today there are many other cryptocurrencies. For most currencies, mining returns are very high at first, but decline sharply over time. This should give an impetus to immediately use the appropriate currency and buy bitcoin miner from Europe for the current blockchain (from the English. “block chain”, a database that is stored on several PCs at once).

Mining Monero currency with the application Minergate you can also do it with a standard smartphone. But no one promises high incomes. For example, with a new smartphone of medium and high price category within 24 hours you can earn about 0.04 euros. This is, however, before deducting the cost of costs. If you subtract the cost of electricity, or perhaps even take into account the cost of Bitcoin miner from Europe, the mining generally ceases to be profitable. At least, if Monero in the next few years will acquire a greater value.