Connect with us

Business

Investing in mining

mm

Published

on

The concept of mining appeared simultaneously with the emergence of cryptocurrencies. It is the process of creating a new coin of a cryptocurrency. The advantage of this process is that it’s a way for you to get bitcoins without paying for them, and that literally everyone can do this. Your own hardware is basically all you need. Moreover, you can create new coins using your browser as well. In this article, we will consider the feasibility of investing in your own equipment for the production of cryptocurrencies.

The more a specific cryptocurrency is mined, the more difficult it becomes to mine. This is inherent in the crypto algorithm, and it is impossible to get around it. Therefore, equipment power requirements are growing rapidly. At the moment, using a computer video card, it makes sense to mine only new cryptocurrencies with low complexity of the algorithm. Bitcoin, Litecoin are already being produced only with the help of ASICs.

However, these requirements are not so strict if you want to start trading. Today it is not a question where to buy tether, bitcoin, and other cryptocurrencies – The Jing Stock is where you have to go. This legal and safe platform is the fastest way for you to start trading.

Talking about mining, you need to choose the right equipment. This choice depends on what kind of cryptocurrency to mine. At the moment, there are only 3 options:

• a computer with a very powerful video card;

• video card farms;

ASIC – a device that contains a set of specialized microcircuits suitable exclusively for mining.

Let’s consider the option of a video card farm. This is a popular option for mining altcoins. A standard farm is a block of several video cards. But video cards by themselves do not work, so the farm still needs a motherboard, processor, RAM, hard drive, and power supply.

The optimal number of video cards for one farm is 4 pcs. This is due to the choice of the motherboard. Motherboards for 4 slots are popular and reliable. The more slots a motherboard has for video cards, the more frequent glitches and breakdowns, which means equipment downtime.

Processor power does not play a role in mining, so a simple 2-core will suffice. The minimum requirements for RAM are 4 GB. A hard drive is better to choose an SSD with a volume of 50 – 60 GB.

The farm consumes a lot of energy; therefore, it is important to choose the right power supply for stable operation and safety of the equipment. For 4 video cards, a 1000-watt unit is required.

Required power of equipment for mining

There is only one answer: the more power, the better. More powerful equipment will last longer. Although it will be more expensive, its profitability is higher than those of the cheaper options.

The main indicator of video cards is computing power (hash rate). In addition, it is worth paying attention to such parameters as energy consumption and price. In the wake of the huge interest in cryptocurrency mining, prices for the same equipment differ significantly from different sellers.

Of the video cards, it is already worth considering the Nvidia GeForce GTX 1080 Ti option with a price of $700.

If you are going to mine Bitcoin and Litecoin, then we will focus on the following ASIC models:

• S9 Antminer, hashtrate 14 TH/s, price $ 1140 for bitcoin

• L3 + Antminer, hashtrate 504 MH/s, price $ 1640 for Litecoin

Remember that mining hardware quickly becomes obsolete. In the best case, its use will be profitable for no more than 1 year. Much depends on the type of cryptocurrency you are mining and on the growth rate of the mining complexity of this cryptocurrency.

There is often a question about whether it is possible to mine with a simple computer or laptop with a conventional video card and processor. In theory, the answer is yes, you can. But in practice, even when mining a new cryptocurrency with little difficulty, the benefit will be minimal, if any. Chances are, you’re just wasting time and effort.

To sum up

Mining is one of the best ways to make money off cryptocurrency. But if it’s not for you, check out The Jing Stock for crypto trading.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Turning Tragedy into Triumph Through Walking With Anthony

mm

Published

on

On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”

Continue Reading

Trending