Toy developing keys on a pink ring. Cryptocurrency mining. Current state of the market

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The word "mining" is translated from English as extraction of minerals from the bowels of the Earth. And cryptocurrency means virtual money that has no physical expression.

In simple words - mining is the "extraction" of conventional monetary units using computer technology.

The history of the emergence of cryptocurrency and mining

At present, only those who have not yet heard of computers and are not familiar with "keyboard" and "mouse" can surprise with high-power GPU-farms, ASIKs. Yes, there are still such people, but there are only a few thousand of them. Modern multi-million young people are familiar with the terminology even too much. In their parents' apartments and houses, they organize primitive mini-farms and frighten the neighboring grandmothers with the noise of fan technology.

The date of the appearance of the virtual currency, mined with the help of a computer, is 01/03/2009. On that day, a block of bitcoin with a reward of 50 coins was extracted for the first time. The founder of the BTC crypto Satoshi Nakamoto received the first bonus. There is a version in the miner community that the Japanese mined over a million BTC before the publication of his invention.

This opinion was not confirmed by facts. Based on the fact that from the date of the appearance of the cryptocurrency and the first publication of the client of the Internet network Bitcoin v0.1, only 15 blocks, from 0 to 14, were received, Satoshi possessed only 750 bitcoins. In the future, he had competitors. The first exchange in the network took place on 01/12/2009. Satoshi and Hel Finney performed this procedure in the amount of 10 BTC. On that day, only five transactions were made from the address of the founder of the cryptocurrency, for a total of 32 BTC.

Technically, getting bitcoin on processors is a common operation that calculates hashes using the SHA256 algorithm. It is also performed in other processes not related to virtual money. In the first months of the development of virtual money, mining on the CPU was not of interest and was not very popular.

Significant changes happened almost a year later. On December 30, 2009, there was a change that made it difficult to mine Bitcoin. The process showed that hundreds of processors are mining BTC. And on July 16, 2010, after the publication about Bitcoin on the Slashdot website, the highest increase in difficulty occurred in one recalculation - 4 times. In just a week, the number of miners has grown exponentially. AND cryptocurrency began to actively gain momentum in bitcoins, and then in new analogues.

Current state of the market

There are more and more people who want to make money on virtual money. Many users have built entire mining farms for mining. Other market participants who did not have enough resources for "mining" started trading. In the latter case, ensuring a productive trading depends largely on the moral requirements of the trader. Understanding the dependence of the price of cryptocurrency on today's conditions and prospects for the future. When working with virtual money, a trader needs to be able to calculate patterns and take into account the peculiarities of trading, options for a full analysis of the current situation and its development in the future, depending on the current news.

Passive mining of cryptocurrencies is an equally profitable option for making a profit.

Recently, the direction of providing users for rent has been actively developing:

  • Premises for placing equipment;
  • Computer technology, ready for the immediate start of the process;
  • Fully equipped mining farm;
  • Capacities that allow you to mine cryptocurrency without your own equipment.

Now it is not necessary to endanger your loved ones and neighbors due to equipment fire from overloads on the power grid. Experience the inconvenience of excessive noise from constantly operating devices that cool the mining farm. It is enough to rent a room in a special "hotel" and you can safely extract the selected variant of the cryptocurrency from the "bowels of the system".

Where does mining begin

The development of the virtual money market is actively continuing despite the opposition of some circumstances. The main one is the need to revise many spheres of life in connection with the introduction of cryptocurrencies. Copy protection, text from the site zarabotat-dengi-doma.ru. Today's authorities do not want to do this and recognize virtual money at the state level. But the locomotive, which is actively gaining momentum, can hardly be stopped.

To date, more than 900 cryptocurrencies have already become known. And every year there are more and more of them.

List of popular crypts

Name Price24H (%)

(BTC)

0.34%

(LTC)

4.66%

XRP (XRP)

0.28%

(ADA)

3.52%

(WTC)

-2.24%
13.07%

Bitcoin Cash (BCH)

8.72%

IOTA (MIOTA)

4.94%

Dash (DASH)

5.30%

NEM (XEM)

33.78%

(XMR)

-0.93%

(XLM)

16.29%

EOS (EOS)

7.55%
11.54%

Lisk (LSK)

7.11%

TRON (TRX)

-2.49%

NEO (NEO)

4.48%

(VET)

-0.15%

Qtum (QTUM)

8.06%

Bitcoin Gold (BTG)

2.00%

(USDT)

0.04%

(OMG)

10.15%

ICON (ICX)

2.64%

Binance Coin (BNB)

-5.54%

Nano (NANO)

0.20%

Verge (XVG)

17.72%

Bytecoin (BCN)

-2.41%

Zcash (ZEC)

8.87%

(ONT)

1.06%

(AE)

8.13%

Steem (STEEM)

1.87%

(WAN)

4.89%

(SC)

10.63%

(BTS)

8.97%

Bytom (BTM)

1.79%

(ZIL)

-1.67%

(PPT)

1.70%

Bitcoin Diamond (BCD)

0.74%

Bitcoin Private (BTCP)

17.75%

0x (ZRX)

2.21%

(STRAT)

1.81%

Waves (WAVES)

2.40%

(RHOC)

-8.29%

Golem (GNT)

-6.20%

Maker (MKR)

2.32%

(DOGE)

2.42%

HyperCash (HC)

4.64%

(SNT)

7.89%

(DGD)

5.36%

(LRC)

-1.04%

IOST (IOST)

-3.30%

Aion (AION)

2.84%

The main virtual money that is popular with miners:

  • Bitcoin.
  • Litecoin.
  • Ethereum.
  • Monero.
  • Primecoin.
  • Fizercoin.

I buy Ripple cryptocurrency here - link ... It also needed to be added to the list, I think the next review will be about this particular cryptocurrency.

  1. Bitcoin is the "ancestor" and the most popular type of virtual finance. The emission of bitcoins is limited and amounts to 21,000,000 BTC. At the moment, this limit has not yet been reached. The cost of 1 BTC in the US dollar equivalent is $ 8,500. Cryptocurrency is in high demand, is exchanged on stock exchanges, and is accepted as a direct payment for goods and services. BTC is accepted in the largest online stores, online services.
  2. Litecoin emerged as an alternative to Bitcoin and became its largest contender. The Segwit litecoin production technology allows you not to limit the number of transactions per second. The current rate of 1.00 LTC is $ 88.05. Litecoin ranks sixth in terms of capitalization.
  3. Ethereum is the leader in the virtual money market. When mining coins, smart contracts are used. Sberbank of Russia works with this virtual currency, which makes it more convenient to use and operate on stock markets. ETH / USD rate = 1.00 / 482.5.
  4. Monero has no maximum emission limit. Ranked # 1 on virtual finance exchanges. A significant drawback is the lack of complete user anonymity. This causes distrust of many miners. But in the mining of Monero, the results are more impressive, which prompts to pay attention to it. The current XMR / USD rate = 1.00 / 144.80.
  5. Primecoin was created similarly to Bitcoin. At the same time, significant changes were made. The first feature is that the algorithm is aimed at ensuring the maximum usefulness of the calculations performed. This approach increases the service life of computers. The second nuance is the unlimited emission. Mining coins is easy enough, but exchanging for fiat money is difficult. The situation may be improved, as primecoins have a good perspective for the future.
  6. Feathercoin is developed on the basis of Litecoins. Before spending it earlier, it was necessary to make an exchange for other virtual money. The emergence of an online store selling physicalcoins made it more popular. The number of people wishing to mine Feathercoin significantly increased after the implementation of the fork with the NeoScrypt algorithm.

Over the past two years, the value and popularity of crypto coins has grown significantly. From entertainment, mining has become a good way to make money. Expanding the possibilities of withdrawing and paying for goods, services attracts the attention of users who want to start mining to cryptocurrencies.

How is the mining of cryptocurrencies

The process consists in the user's activities to maintain the functioning of the network by creating, closing blockchains using computing power. The owner of the hardware uses its power to perform special calculations, as a result of which he finds a digital signature (hash) that closes the block. The miner who has achieved the final result receives a bonus - one unit of cryptocurrency.

In simple words, mining is the receipt of virtual money by exploiting the capacities of special equipment. At the first stages of the development of the process, mining was carried out from any PC using the power of the processor. With the growth of the minimum requirements for the mining of cryptocurrencies, it was required to attract more functional equipment.

Today, getting coins even on the most powerful CPUs has become unprofitable!

They were replaced by video cards, special equipment ASIC. Farms have become popular - special installations in which a large number of video cards and ASICs are connected to increase power. On an ordinary PC, today you can mine cryptocurrency digitalnota, monero, fazomcoin. At the same time, even the most powerful computers in the world do not allow you to earn more than a few tens of cents a day.

Miners' associations

With the increase in the complexity of mining coins, and it increases with the arrival of new miners, the likelihood of obtaining them has decreased.

Today, the average search time for a digital signature, even on the most powerful solo equipment, for Bitcoin, Ethereum is several years. The time is theoretical, but in practice it can stretch for many years. This situation led to the unification of coin miners in mining pools.

Thousands of virtual coin seekers united in a common "team" find a reward relatively quickly. The higher the computing power of the mining pool, the higher the likelihood of receiving a bonus. In such associations, individual miners, who have the simplest equipment, solve "balls" and do not find blocks, still receive a reward.

The likelihood of a block being closed by a large pool of "prospectors" is significantly higher than receiving a coin by a small pool. The remuneration is distributed in proportion to the connected capacities. The more work is done by one miner, the higher the reward he will receive.

Types of cryptocurrency mining

Conventionally, the mining of coins is classified according to the form of mining and equipment involved in the process of searching and closing a block.

The main types of cryptocurrency mining:

  • CPU-mining is an almost useless method of getting coins. Relevant if free power supply, access to a large number of PCs.
  • GPU mining is relevant for many virtual coins. The economic effect is possible when using powerful video cards GeForce, Radeon. A good option for mining coins, the cost of which may increase several times.
  • ASIC-mining is an effective way to search for crypto coins. The equipment is made specifically for mining. Have high efficiency. The devices pay for themselves quickly and are easy to maintain. When buying equipment, you need to keep in mind that it quickly becomes obsolete. In this regard, its liquidity in the secondary market is low. In order to create a farm and increase capacity in the future, mining on ASICs shows good results.

Mining farms are installations in which several powerful GPU video cards are combined. A highly efficient way to mine coins. The equipment is in high demand among miners. The industry is not able to provide it, so the equipment is easily sold on the secondary market.

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