How to Build, Borrow, Beg or Steal your Hashpower for Mining Bitcoin
If you believe Bitcoin is only going to grow more and more desirable and valuable, you may be looking to cut out any middleman, put on your miners cap, and head for the hills! The truth is home-grown mining for BTC is becoming more and more difficult and costly. Hardware costs coupled with electricity can take a sizeable bite out of profits, not to mention the sound. 2018 will prove if the smaller players can hangs. There are other options to get your hands on that precious bitcoin, you just need to know where to look for it! In this article I hope you find the resources and starting points you need!
Build
You can build a rig made of of graphics cards, circuits, and fans all (noisily) working together to create your total Hashrate. In addition to the hardware setup costs, dont forget about other overheads like electricity! You can use an tool on cryptocompare.com to help you project your potential ROI.
You have your DIY option.
Most people meet somewhere in between and buy a larger and essentially turn-key miner. Dont get me wrong, you need to know your shit if you want to set it up, but its getting easier with the BTC program installs and hardware set up
Read some reviews, you can try:
- https://99bitcoins.com/best-bitcoin-miners-2016-hardware-reviews/
- https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/
Borrow
Equipment costs, power consumption, maintenance, noise levels. Don't you wish someone could do it for you and you share in the profits. Well a fantastic segue that would be to talk about…
Websites like Genesis Mining and Hashflare offer you ability to make a 12month or more purchase of Hash power you will “borrow” from their hardware, in return for a percentage. There is a lot to consider when opting into a mining contract: where do you think BTC will be in a year? Could the increase in value outweigh the ROI on a X dollar investment? This this site legit and going to be here in a year?
You can use the same calculator from cryptocompare.com to see what your return is projected to be, and just zero out the cost of electricity.
Some websites such as https://micro-btc.com/ claim to have free hashing power for people that just sign up as a no cost member.
Beg
There are hundreds of websites and apps that claim to offer BTC and Satoshis for completing a variety of tasks. These so called “faucets” ask you to tdo tasks such as Watching an advertisement, taking a survey, downloading an app and playing, signing up for the service, etc. Depending on the level difficulty or commitment impacts the amount to be paid out upon completion.
I have played around with this and for the amount of time you have to invest or bullshit scammy products you see the ROI doesn't come close for me. If you got nothing else and more than one person contributing, well power to you! I am not willing to recommend any!
And dont forget everyone's favorite, whoring out your referral links for Coinbase, Binance Exchange, and Hashflare. :)
Steal
If you want to pull out all the stops, you may consider stealing the CPU and GPU power from your devices such as laptops, desktops, tablets and smartphones. Using apps like https://minergate.com and https://www.nicehash.com/ will do the heavy lifting once you download it and turn it on. You can use a desktop client for most of these apps as well on your computer.
Depending on your allocation settings, you can notice a very big difference in your processing speeds. I suggest maxing it at night (turn off sleep mode), and off or very minimum during the day. When I mined for Monero (XMR) it on my Samsung 8 and a pretty solid laptop with upgraded GPU and SSD,
I was able to clear roughly 0.01 in a week. So 10 weeks to achieve .10 which as of this writing would be valued around $24. I'm not getting rich but the fact is I am accumulating currency and it will add up.
Conclusion
There are lots of ways to get involved and try to earn. Probably more scams than legit sites so be careful where you go, what your download, or who you pay. If you can, stick close to mining it yourself. A passive income now could mean big things for the future!