Connect with us

News

What better to mine in 2019? Which mining cryptocurrency is most profitable

Published

on

Mining cryptocurrency is a process that checks the correctness of transactions and adds them to the blockchain registry. Let's talk about which cryptocurrency is better to mine in 2019.

In the process of mining, miners (computers) compete with each other in solving complex mathematical problems associated with cryptographic hash functions. Those who find a solution first receive payment.

Mining is conducted in various ways. The classic way is to create a mining farm that will cost you a fortune. This requires complex computers, systems for their cooling and efficient power supply.

However, there are alternative types of mining. Thanks to the development of the cryptocurrency sector, mining can also be performed using a computer processor. It is easy and does not require any special technical skills.

Mining can also be carried out via smartphones using platforms such as Electroneum (ETN) . In other cases, you can use graphics processors (GPU) or ASIC miners. But the most convenient and profitable option is – cloud mining .

The best cryptocurrencies for mining

Over the years, Bitcoin has been the best cryptocurrency for mining. However, over time, the mining of bitcoins has ceased to be profitable due to the fact that this requires more computational power. However, there are several altcoins that are beneficial for mining. Here are some of them.

Coin mining grin

Grin's cryptocurrency is based on the Mimblewimble protocol. This network is distinguished by increased confidentiality, scalability and reduced blockchain size. Despite the limited supply of coins, Grin Coin gained recognition even among altcoin opponents. This is one of the best cryptocurrencies for mining, which became known in 2019, when several major websites stated that this protocol is capable of solving many current problems in crypto.

Grin mining requires Nvidia graphics cards with the markings 1070, 1070ti, 1080, 1080ti, 2070, 2080, 2080ti, however, some AMD cards will do.

You can download the official miner (software) for Grin and join the mining pools F2Pool, Grinmint, Sparkpool, Pool.BTC, which account for 40%, 16%, 25% and 16% of the computing power for this coin, respectively.

Mining Ethereum using graphics cards

Ethereum is the third cryptocurrency in the world by market capitalization. It can also be mined using graphics processors. This is one of the best cryptocurrencies for mining, as the coin is valued for its smart contracting functions. Ethminer video card is recommended for etirium mining, which is quite expensive, although it is worth it.

In general, the mining of ether is difficult, but it increases the profitability of such an enterprise. Now the etithium mining attracts fewer miners, and you can get a significant income if you use the most optimal equipment.

Mining Litecoin using ASIC miners

Lightcoin is a peer-to-peer (P2P) cryptocurrency that allows cross-border payments. Compared to other cryptocurrencies, Litecoin transaction confirmation is faster, and this makes it one of the best cryptocurrencies for mining.

In terms of equipment in the mining of lightcoin, there are fewer alternatives. One of the most affordable options is the ASIC miner Antminer L3 ++, which is the most optimal for the price (about $ 400) and power consumption, as well as its hashrate.

For lightcoin mining, you can connect to pools such as Litecoin Pool, Antpool and LTC.top. In addition, you can use the Litecoin Core client to store your lightcoins.

Useful site for miners WhatToMine.com

WhatToMine is the leading profit calculator for miners . The information on the site is the result of combining various data and analyzing them, which makes it possible to isolate advantageous coins.

Over the past years, the profit from mining has decreased, and such platforms can be very useful for assessing the profitability of investments in cryptocurrency. You need to enter the name of the equipment used, the number of your devices and the cost of electricity in your area. By clicking the Calculate button, you will receive recommendations on the best cryptocurrency for mining.

Conclusion

Mining cryptocurrency can be profitable if you have the right hardware, software and some technical knowledge. In addition, you should know how to protect your investment.

This approach will allow you to receive passive income by choosing the best coins for mining. But before you invest money in any digital assets, examine everything that concerns them in order to feel financially secure.

Publication date 02/08/2019
Share this material on social networks and leave your opinion in the comments below.


News

G7: stablecoins pose a threat to the financial system

Published

on

A recent report from G7 suggests that global stablecoins can be dangerous to the stability of the financial system.

The report describes many of the risks that are associated with the use of digital currencies. It even explains that even if the companies involved in Libra could manage to solve some minor regulatory problems, they would not be able to get permission from the main regulators. The document also notes that G7 believes that no stablecoin project should have the right to start its activities until certain problems with the supervision and management of the crypto industry are resolved, all risks are eliminated.

G7 also thinks that stablecoins that have the ability to scale quickly can suppress the development of competitors and threaten financial stability, as there is a risk that users may one day be disappointed in this coin. It is anticipated that the provisions of this document will be discussed by finance ministers at the IMF's annual meeting, scheduled for this week.

Such statements explain the hostility of world regulators to Libra and TON projects. For example, Gabor Gurbaks, a digital assets strategist at VanEck, said on his Twitter blog the day before that companies, such as Visa, Mastercard, eBay, Stripe, received letters from regulators asking them not to experiment with Libra before leaving Libra. a new project, otherwise they would have additional, undesirable obligations to regulators.

Continue Reading

News

The growing complexity of Bitcoin mining in 2019, how is it determined and what depends on it?

Published

on

This year, the price of Bitcoin (BTC) ranged from a minimum of just over $ 3,000 to a maximum of about $ 13,000. At the same time, the complexity of BTC mining , which measures the complexity of the calculations needed to mine new coins and create new network blocks, has been growing unprecedented.

Bitcoin mining difficulty is adjusted approximately every two weeks to take into account the hashrate of new miners on the network. Despite the fact that the general trend has been upward almost since the creation of the network, short but significant failures happen. For example, in December 2018, mining complexity decreased three times in a row, the total drop was almost 30%.

In this calendar year, the difficulty of mining BTC decreased five times, but no more than 1.18%. This is unprecedented. In no previous year, the most serious drop was so low. In the entire history, at least one drop was more than 5%.

Of course, 2019 has not yet ended, but it is worth noting that at that time last year, the difficulty of mining BTC decreased only once (3.45%, which is more significant than any decrease in 2019).

If this trend continues, it will confirm that the BTC miner community is less sensitive to currency price fluctuations than ever before.

To understand why, it is worth considering the basics of the complexity of cryptocurrency mining . The Bitcoin network produces 2016 new blocks every two weeks. Maintaining this speed is important for network operation. Blocks are generated by miner computing systems that solve mathematical problems. In this case, it is appropriate to compare the miners with the players in the lottery, and the difficulty of mining is with a very low chance of each individual player to win. Each time someone “wins” the lottery, a block is created.

Since bitcoin networks need blocks that are generated at a predictable speed, the complexity of this “lottery” should vary depending on the number of “players” (miners). For example, if many miners leave the network, the mining complexity should be reduced, or the rest will not have enough power needed to generate new blocks at the speed required to maintain the network.

In fact, the Bitcoin mining system is more complicated than described above, however, according to its basic principle, the upward movement of Bitcoin this year is a bullish sign. Investors come and go, the price fluctuates up and down, but interest in Bitcoin mining is clearly growing, and this year it has become more stable than ever before.

Publication date 10/14/2019
Share this material on social networks and leave your opinion in the comments below.


Continue Reading

News

Europol: Bitcoin remains the most popular cryptocurrency among cybercriminals

Bitcoin is still the preferred cryptocurrency for cybercriminals, Europol stated in the annual report “Assessing the threats of organized crime on the Internet” (IOCTA 2019). “Although we previously reported a slight shift towards more private cryptocurrencies such as Monero, bitcoin is still the currency of choice for both legal and criminal use,” the organization said. In previous IOCTA reports […]

Published

on

Bitcoin is still the preferred cryptocurrency for cybercriminals, Europol stated in the annual report “Assessing the threats of organized crime on the Internet” (IOCTA 2019).

“Although we previously reported a slight shift towards more private cryptocurrencies such as Monero, bitcoin is still the currency of choice for both legal and criminal use,” the organization said.

In previous IOCTA reports, the organization pointed to the growing popularity of altcoins such as Zcash, Monero, and Ethereum among cybercriminals.

This year, Monero was the only altcoin mentioned by the EU police organization in a report. It notes that the use of the coin mainly relates to darknet markets that accept or trade Monero.

Europol emphasized that Monero was widely used for hidden mining, the distribution of which has been declining throughout the current year. The latter is partially due to the termination of the Coinhive browser mining service in March, the organization said.

Recall, it was previously reported that the volume of bitcoin transactions in the darknet for 2019 may exceed $ 1 billion.

Subscribe to BlockchainJournal news on Facebook !

<< aside id = "unisender_subscribe_form-10" class = "widget unisender_form">

BlockchainJournal.news

BlockchainJournal.news

Continue Reading
Advertisement

Name Price24H (%)
Bitcoin (BTC)
$8,283.85
-1.13%
Ethereum (ETH)
$182.98
0.07%
XRP (XRP)
$0.288178
4.05%
Bitcoin Cash (BCH)
$225.40
-0.32%
EOS (EOS)
$3.13
0.72%
Stellar (XLM)
$0.062541
2.47%
Litecoin (LTC)
$56.73
-0.47%
Cardano (ADA)
$0.041433
0.93%
Tether (USDT)
$1.00
0.13%
Monero (XMR)
$53.09
-0.75%
Advertisement

Trending

Copyright © 2018 blockchainjournal.news