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What will be mining in 2019? Should I go now? Relevance and prospects

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What awaits miners cryptocurrency in a bear market? Consider all the prospects of the mining industry in 2019 and options for action in the current realities.

Home mining will change a lot

If we talk about GPU mining , now the overall speed of the Ethereum network has dropped – mining is still possible, but it very much depends on the power supply and on what the cost of electricity.

Mostly in Russia, electricity is quite expensive, although there are miners who pay for it at a cost of 1.70 rubles per kilowatt. If a kilowatt costs 5.50, 6.50 rubles, perhaps the best solution is to turn off the equipment until better times, or switch to cloud mining , because at the moment it’s much cheaper to rent bitcoin in cloud services than to buy your own equipment.

However, I believe that home miners have an excellent option – it is necessary to unite in a kind of pool in order to mine together. I am sure that there will definitely be a company of like-minded people who will bring miners into a kind of trade union and create a physical pool with an attractive price for electricity. Just imagine – here it is, a bright future. And so that it finally comes, it remains only to make legislative decisions (and we see that this is absolutely not far off) and to make the mining and the very sphere of cryptocurrency white and legal.

Is it worth going into mining now?

For a person who does not understand the intricacies, it is difficult to admit the very possibility that mining may now be no less profitable than buying cryptocurrencies . But in the long term, now is the time to go into mining, if you believe in the blockchain and cryptocurrency. Many people are nerves now, they are leaving the industry. But we understand that we went to the bottom. I'm sure everything should stabilize soon.

But if the miner bears serious losses, then the only competent decision that I see is to reduce the risks, perhaps even to exit the business.

By the way, in this way, equipment with a huge discount is transferred from those who want quick money to those who have a financial cushion and just a store of patience.

With profitability now everything is very difficult, but there are still large investors in the market that are entering the market right now, in a recession. They understand that growth will continue. By the way, now, against the background of a collapsed market, there is also a significant plus for miners: the complexity of the network is falling. For example, in Ethereum, the fall in complexity over the past three months was about 10% , and in Bitcoin – 18% .

What cryptocurrency mine in 2019?

As for exactly which coins to mine, I recommend looking only at those that are in the top 20. There are a huge number of altcoins that look very affordable, but, unfortunately, do not give any guarantee. Nobody knows what will happen with this course tomorrow.

First of all, I would advise you to look at Ethereum. Its capitalization is high, and the creators will pull it out before the fork of Constantinople exits – the new date is not officially named, but the community expects this to happen in the second half of February.

This fork is designed to postpone the so-called complexity bomb, and one of its EIP components (Ethereum Improvement Proposal), EIP-1234, reduces the remuneration for the miner for the mined block from 3 ETH to 2 ETH. This, of course, reduces the profitability of Ethereum mining , and this will be especially noticeable for small miners. And immediately after the release of the fork, you can expect short-term volatility caused by the transition to the PoS algorithm .

Many members of the community from the very beginning were against the reduction of remuneration, as this can lead to greater centralization of the network. But how all these moments will show themselves in practice will become clear only with the release of Constantinople. So there is no need to worry in advance, wait and see.

Surely you can find some ambiguous cryptocurrency, the so-called Shitcoin, which will be much more profitable. But for the miner it is extremely risky. There are a huge amount of resources that provide detailed information about such coins, but these currencies take off only when their pampyat, but this pamp can break at any time.

You can work without success for a week – not a single pool will give income immediately, it is not profitable for it. When a miner enters the pool, it takes a certain time for the pool to bring it to the volumes, at certain speeds, and record in itself that it is trustworthy. Even if it takes three days – this is three days of equipment operation, and the pump may already fall.

Also it is worth considering that you can encounter a huge number of lags when putting coins on the stock exchange. We may lose time. And it is very difficult to sell a coin quickly – especially when the pamp disappears and the coin flies to hell.

Therefore, my personal opinion is that mine needs either some very stable coin, or for an order, for example, when a new coin is issued, then the owners turn to miners to support the network, this is common practice. But in no case should one be guided by impulses: “Oh, I saw a coin on some resource that gives 1000% income, and today I’ll earn $ 1000 from one GPU”. No, I don’t believe in that.

By the way, you can also use technological advances: for example, the automatic mode, which itself monitors the market and selects the most profitable mining currency. One currency slipped – another one immediately came to its place, which has now become the most profitable, and the mining process is not interrupted.

Masterstock perspectives

Now it’s very profitable to invest in masternods, and there is certainly a future in them, but I cannot say that I believe in this technology globally. And there is a simple reason for this: I don’t see master codes as blockchains . A real blockchain is still PoW algorithms .

PoS is another matter, for example, we know one coin, which several huge banks have spun, putting masternody into their DCs and pumping billions into circulation. It's about Ripple . This is not a blockchain, but a beautiful picture with huge investments.

In the future, perhaps, there will be some less energy-intensive PoW or a symbiosis of two technologies. Although the issue of energy costs is separate: there are calculations of energy costs for the banking sector, which also include the costs of providing payments for cards of various payment systems, and this in turn greatly exceeds the costs that are in mining today. If you compare the cost of one dollar in the banking sector and one dollar in the blockchain, it is clear that in the blockchain it is much lower.

Neural networks

Learning neural networks and cloud computing is certainly a very interesting area, but the technology itself is not quite ready for the mining market. Here it is important to solve the question: who is the buyer? Large corporations that have the funds to purchase all the necessary equipment can afford it. But business in such projects, in my opinion, should be for ordinary users, for the same gamers, for example.

Now there are projects that allow you to run powerful modern games on weak hardware, but this is implemented using virtual machines. But now there is no technology that allows taking the power of their video cards or processors from the same miners and transferring them to gamers.

But I am sure that it is a matter of time. And there is certainly some groundwork in this direction. There are consumers of mining capacity for neural networks, but this is to the point, these are not market products. There are companies that study technology and address miners with requests for capacity, and miners provide them.

Three main miner tips

  • Do not sell equipment.
  • To keep within the framework of profitability, or to invest your own funds in future profitability, but at a level that will not ruin you.
  • Do not turn off the chosen path and not lose the will to conquer mining peaks!

Publication date 01.02.2019
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Residents of South Korea have become more active in investing in cryptocurrencies

The average amount of investments of investors from South Korea in cryptocurrency is $ 6,100, which is 64% more than last year, reports Cointelegraph. According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). Remarkably, […]

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The average amount of investments of investors from South Korea in cryptocurrency is $ 6,100, which is 64% more than last year, reports Cointelegraph .

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto-burg, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price hike and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.

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Central Bank of Tunisia and Afghanistan can create crypto bonds to attract investment

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The heads of central banks of Afghanistan and Tunisia said that their countries are considering the possibility of issuing sovereign cryptocurrency bonds. Officials reported this at the annual Spring Meetings of the Board of Governors of the International Monetary Fund and the World Bank Group in Washington.

Governor of the Central Bank of Afghanistan, Khalil Sediq, said they are seriously considering crypto bonds as a tool to attract the $ 5.8 billion private investment needed by the country's mining, energy and agricultural sectors.

Since the country is limited in opportunities for concessional lending due to the ongoing internal armed conflict, the issue could be the issue of bonds and futures for metals, said Sedik. The country hopes to use for this its reserves of lithium, estimated at more than $ 3 trillion.

The head of the Central Bank of Tunisia, Marouane El Abassi, in turn, said that the country has already established a working group, which is also seriously studying the issue of issuing sovereign bonds to Bitcoin . He recalled that Tunisia was one of the first countries in the world to issue electronic currency, an e-dinar, in which payments are received by national mail.

Publication date 04/22/2019
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How do transactions occur in the Bitcoin network? The whole cycle from start to finish

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Bitcoin (BTC) and its complexity have become a concept that many cryptocurrency users have been trying to understand since its inception. In his latest video, the famous Bitcoin enthusiast Andreas Antonopoulos and the author of the book “Mastering Bitcoin,” spoke about the life cycle of a Bitcoin transaction with a wallet from start to finish.

Antonopoulos said that since the transaction was sent from the wallet for confirmation to the Bitcoin network , the wallet creates a transaction, accumulating BTC in the user's wallet and assigning addresses. Then the user's wallet transfers the transaction information to one of the many nodes to which it is connected, from where it can be sent to “1, 2 or even 8 other nodes”.

“Then the transaction is transferred to other nodes, which can be mining nodes, e-commerce payment gateways and other options. Each of these nodes will receive a transaction from yours, and each will verify each transaction. When nodes receive transactions, they do not know whether it was created by you or was redirected, and therefore each of these transactions must be checked individually. ”

Then Antonopoulos said that if all the nodes are checked, i.e. if the payment details are correct and it is confirmed that there were no double costs in the blockchain, then the transaction information will be sent to every other node.

“As soon as a transaction reaches the mining pool , it enters the pool of unconfirmed transactions, for example, a basket in which all unconfirmed data is stored. In another way it is called mempul. The information in individual memoplahs may coincide by 99%, but there will never be complete similarity. ”

According to the expert, the memory also serves to submit the transaction to the BTC miner to add a new block, after which the race is turned on for the next block. As a rule, miners have to build a block, and then solve it with the help of Proof-of-Work , making it ultimately confirmed.

Once the unit is ready, the information will be sent mayningovomu equipment to solve the problem in this particular block, and probably after the "billion hashes" miners will block.

“As soon as PoW is resolved, the mining node will return the node back in the same way as it received. The nodes check the block on the way back, and as soon as all the nodes confirm its validity, the user's wallet will know about the confirmation of the transaction. This is the full life cycle of a transaction. ”

Publication date 04/22/2019
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Name Price24H (%)
Bitcoin (BTC)
$5,312.00
1.32%
Ethereum (ETH)
$171.05
2.00%
XRP (XRP)
$0.325595
1.89%
Bitcoin Cash (BCH)
$292.35
2.53%
EOS (EOS)
$5.21
1.92%
Stellar (XLM)
$0.114053
2.57%
Litecoin (LTC)
$76.77
1.55%
Cardano (ADA)
$0.076520
5.66%
Tether (USDT)
$1.00
-0.18%
Monero (XMR)
$69.65
2.15%
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