What is Virtual Currency Mining? How To Mine Coin? Profit or loss? - Update 2020

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Digging Money Virtual what? Mention virtual money people often think about online coins that can be paid for on live game games.

In 2017 and 2018, virtual currency bitcoin stand out when the media, Vietnam and the world press always make hot news about this currency.

But because at that time and even today, the popularity and awareness were unclear, so most people called bitcoin a virtual currency. But in essence bitcoin is a digital and encrypted cryptocurrency.

So when it comes to mining cryptocurrencies, it is understood as bitcoin mining and other cryptocurrencies

So Digging Money Virtual what? How to Digging coins in 2019? Now on Blogtienao Will make basic predictions about cryptocurrency mining and the feasibility of mining in 2019, and should Bitcoin mining investment or not?

What is Virtual Money Digging?

Digging virtual money easy to understand bitcoin mining (or mining other coins) is a term that describes the rapid processing and confirmation of payments on the bitcoin blockchain network.

Understand simply that it is the process of solving complex problems, and when completed, the reward will be the coins received.

And that decoding process requires separate hardware, supercomputers with extremely high configuration to decode

When Bitcoin was just born, the decryption was quite easy because the problems were quite simple so decoding the calculation was simple, sometimes a laptop or a computer can do it.

But as the difficulty level grew, there were millions of difficult calculations, so it required high configuration, fast and strong to solve.

Currently only specialized machines are capable of decoding and receiving bitcoin rewards.

So if you intend to mine bitcoins with your laptop or computer, give up on that thought.

How to mine bitcoin?

Simply go and buy specialized mining machines, if you want to dig for bitcoin, buy a specialized bitcoin mining machine.

If you want to dig litecoin, dig ethereum, then you just need to buy a specialized excavator of those coins, turn on the power to run it (running the machine also requires a bit of professional knowledge).

The current price of miners is also quite cheap, for example, the S9 machine is about 3-4 million, the L3 ++ miner litecoin is only about 3 million, the Ethereum miner is only about 10-15 million!

Types of Common Virtual Money Diggers

Bitcoin miner

Born early, bitcoin miners became popular from 2012 to 2017, lines with powerful chips to solve the SHA256 algorithm of bitcoin.

The strongest current is the AntMiner S9, and this is the capacity of the machine:

  • Hash Rate11.5TH / s, 12.5TH / s, 13TH / s, 13.5TH / s & 14TH / s, depending on batch. Variation of ± 5% is expected
  • Power Consumption1127W (11.5TH / s batch), 1225W (12.5TH / s batch), 1274W (13TH / s batch), 1323W (13.5TH / s batch), 1372W (14TH / s batch) (at the wall, with Bitmain's APW3 PSU, 93% efficiency, 25 ° C ambient temp). Expected discrepancy of + 10%
  • Power Efficiency0.098 J / GH + 10% at the wall (with Bitmain's APW3 PSU, 93% efficiency, 25 ° C ambient temp)
  • Rated Voltage11.60 ~ 13.00V
  • Chip quantity per unit189x BM1387
  • Dimensions350mm (L) x 135mm (W) x 158mm (H)
  • Cooling2x 12038 fans; Front fan: 6000rpm, Rear fan: 4300rpm
  • Operating Temperature0 ° C to 40 ° C
  • Network ConnectionEthernet
  • Frequency Automatically set

Looking troublesome but the doctors understand that its power is 11.5-13.5 TH / S, consumption of 1127W - 1350W depending on the machine.

Excavator Litecoin (LTC)

Like bitcoin miners, litecoin miners, named Antminer L3 +, are specialized LTC miners. And here is its specifications

  • Hash Rate504MH / s. A variation of +/- 5% is expected.
  • Power Consumption 800W + 10% (at the wall, with Bitmain's APW3 PSU, 93% efficiency, 25 ° C ambient temperature)
  • Power Efficiency1.6J / MH + 10% (at the wall, with Bitmain's APW3 PSU, 93% efficiency, 25 ° C ambient temperature)
  • DC Voltage Input11.60 ~ 13.00V
  • Chip TypeBM1485 ASIC chip
  • Chip quantity per unit288 chips on four hashing boards, 72 chips on one hashing board
  • Dimensions352mm (l) x 130mm (w) x 187.5mm (h)
  • Operating temperature0 ° C - 40 ° C

Digging speed is 504 Mh / s quite high, power consumption is only about 900-1000W, quite compact, easy to use!

However, it has 1 drawback is quite noisy, if you leave home to be crazy because it is too noisy

Digging machine ETH, ETC, by GPU

Advantages :

  • Can sell easily if you want to take a break :))
  • Soothing, soothing, no noise
  • Make a high profit (more or less depending on the high or low diff and the price increase or decrease)

Defect :

  • Hot, quite high temperature machine
  • The purchase price is as high as the L3 +
  • Easy to dust

The following is the general configuration of the machine:

- 6 VGA MSI 470 Armor ram samsung
- G1840 chip
- Main H81
- Ram 4Gb
- ssd 120Gb
- PSU (power): 1600W 12 level 6 + 2 pin
- Riser V006C x6
- Frames buffalo

High or low capacity depends on strong or weak VGA, can use rx460, rx470, rx480, rx570, rx580, does not matter CPU chip, or SSD, ram is at least 4GB, enough power for 6VGA, should use from 1000W above…

In addition to the above, there are other VGA lines such as PandaMiners (using 8 vga rx470), Pangolin (using 8 vga 1060), BaikalMiners (dig dash), ....

Should bitcoin miners be invested?

Investing in bitcoin mining machines requires a certain knowledge.

When the trend of excavators surged at the end of 2017, making an S1 excavator with a capacity of 9th / s cost up to 14 million (while the original price was only about 90 million), many investors rushed into the game despite the calculation. The consequences due to the profit was quite high then.

This year, the difficulty has increased sharply, the price has fallen sharply and continuously, electricity prices have risen sharply, so it is difficult for the investment in bitcoin mining machines in Vietnam to be able to pay back capital, the possibility of capital losses is very high.

If you do not know anything about digging, blogtienao advises against investing in this segment.

So why are there articles that say that mining is still profitable, Blogtienao will analyze the reasons why mining is still profitable:

  • Electricity is quite cheap, the price of bitcoin mining power in those areas is sometimes only 500-1000 VND only.
  • The digging area is a fairly cold area, so investors do not need to build an expensive cooling system
  • Excavator prices have dropped a lot, currently only about 10-15 million a new machine, the old machine price is only about 1-5 million a machine.

Considering the above three reasons, investing excavators in Vietnam is not feasible when the weather is quite hot, the machine price is quite high, electricity price is extremely high.

 

Below is the profit of 14TH / s bitcoin mining machine when using electricity business in Vietnam, the profit is negative (1 day loss of $ 0.62) excluding management costs 🙁

Bitcoin mining machine profits 11/2018

How to Calculate Profits From Virtual Money Diggers

There are many profitability sites like Coinwar, Whattomine, Cryptocompare, etc.

However his side will write about cryptocompare Because this site is easy to see interface, suitable for newcomers to dig cryptocurrency.

If you want professionalism, you should use it Whattomine home

Please follow that link: Click here

Each currency has its own mining parameters HashPower will be different, for example BTC leaves TH / s , ETH or  ETC will Mh / s , LTC Also Mh / s , Zcash leaves Sol / s

Please pay attention to the picture

I am choosing the currency: LTC, the price of LTC, it updates automatically, currently is $ 49.49

  • HashingPower: this is machine power, for example the L3 + machine has a capacity of 504 Mh / s
  • Power Consumption: this is the power consumption of the L3 +, for example 1150W (this machine will consume 1,2tr-1,4tr of electricity per month)
  • Cost Per KwH: electricity price, for example, electricity produced in Vietnam is ~ 1700d which is $ 0.08

After filling those 3 fields, it will produce the following result:

  • 1 month L3 + mining machine is about $ 1228,32
  • 1 day digging $ 40.94
  • ...

(The current time will be very different, please enter the calculation yourself to get the latest results.)

ETH rx470 excavator with a capacity of 165 mhs uses 850W, producing electricity of $ 0.08, the result will be as shown in the picture. However, you should revisit it because every time is different.

List of New Japanese Coin Miners - Auto Update

Blogtienao has updated the list of the latest bitcoin mining machines, virtual currency machines including machine name, capacity, machine price, interest rates updated automatically, you can refer to it.

Machine nameDigWattagePriceInterest
AntMiner S17eBitcoin64 TH / s2000$See Here
Antminer S15Bitcoin28 TH / s1035$See Here
AntMiner S11Bitcoin19 TH / s502$See Here
AntMiner S9Bitcoin13.5TH / S270$See Here
AntMiner Z11Zcash135k Sol1515$See Here
AMD 570 / 580Ethereum180 Mh / s300$See Here
AntMiner L3 +Litecoin504 Mh / s300$See Here
AntMiner T17BTC, BCH40 TH / s951$See Here

Epilogue

Through the article, we have learned what the knowledge of bitcoin mining is, how to mine bitcoin 2019? And should we invest in a virtual currency miner right now? Good luck! If you have any suggestions, please inbox fanpage blogtienao

 

 

 

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