Is It Still Possible to Mine Bitcoin and Cryptocurrencies at Home? As? This is a question that many crypto enthusiasts have. We will answer that question in this post and also give you some solutions!

What is Bitcoin Mining?

     Bitcoin and Cryptocurrency Mining is one of the most fascinating processes of the 21st century and, despite not being done, properly, in an "underground mine" and there are no miners with their pickaxes there, it is an extremely interesting and revolutionary process.

     Mining Bitcoin at home today from PC, or worse, from Mobile, is extremely difficult and requires an absurd computational power, so it is unlikely that you will be able to mine at home, especially if you live in a country like Brazil, where the cost of energy is extremely high.

     Bitcoin Mining is extremely important for the protection of the network and, without a doubt, for turning the cryptocurrency into a deflationary asset, causing btc to increase in value over time, because as the miners' reward decreases, the asset becomes scarcer. It's the famous law of "supply and demand".

Bitcoin is much scarcer than Gold!

Mining Bitcoin in the Cloud, be careful!

     In theory, the cryptocurrency cloud mining process is quite simple: rent computers (often from decentralized companies) to be able to mine Bitcoin for you, so far so good, it seems like a very interesting idea, but there is a question not very pleasant!

     Many scammers have used this "pain" of people to apply scams, because it is a fact that, to mine btc, it is important to have an extremely robust machine, essentially, the video card. So they make a platform where you "rent" a PC with the computing power you want (and give you an estimate of how many blocks will be mined) to do Mining: the better the PC, the more expensive it will be.

     And then, they place a Bitcoin Wallet to make the deposit and you, all naive, make the transfer, but the truth is that the computer will never be available to you, so be very careful with the idea of ​​"mining bitcoin in the cloud" or , "mine bitcoin by cell phone", this sounds like a scam and it is very difficult to find any serious company that provides this type of service, even if you think: "it wouldn't be easier for these companies to mine btc directly instead of offering this type of service"? Having a critical mind in this market is extremely important.

However, throughout this content, we will show you a very interesting service!

What is Bitcoin Mining for?

     Bitcoin Mining is an extremely complex process where mining pools, that is, machines, do the solving of extremely complex mathematical calculations and when they solve these problems, they are rewarded with satoshis (fractions) of bitcoin! In simpler words, it is mining that causes new bitcoins to enter the market.

     The fastest machine in solving these mathematical problems will be rewarded the most, while the not so fast machines, although they are also rewarded, their rewards are much smaller - essentially in mining pools.

     That's why they say it's impossible to hack btc, because to invade this network so strong, even the strongest in the world, it is necessary to have a machine even stronger than that of the miners: an impossible task.

     "Oh, but there's quantum computing that's coming." Yes, Google itself is in the process of "development" of a quantum supercomputer capable of breaking cryptography, however, it is still a long way from having a power capable of destroying the Blockchain. Not to mention that as technology in general evolves, the crypto world evolves double, so there is nothing to worry about.

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How Much Does a Bitcoin Miner Earn?

     Know that it is unlikely to be able to mine bitcoin at home, many miners in the past have migrated to Ethereum, but with the last relevant update, The Merge, made cryptocurrency no longer to have the same mining as Bitcoin - of computational power - for proof of participation, with this, it is no longer possible!

     So keep in mind that "how much a bitcoin miner gets" will depend on when you are willing to spend on the machines. Some miners earn very well, but also invest heavily in their own equipment.

     It is always important to remember that in Bitcoin, there is something called "halving" that makes cryptocurrency every 4 years, reduce the reward of miners in half, so if you are not willing to always be investing in new signs of Video, you will be behind!

How to Mine Bitcoin, what does it take?

     You already know that it is necessary to have one or more computers of extreme power to mine this scarce and decentralized asset, however, there are other points that you need to know about Mining Bitcoin:

• Invest in high-powered machines: it is essential that you have state-of-the-art machines to mine this cryptocurrency and be rewarded with greater values;
• Cheap Energy: this is another extremely important detail! There is a country in Central America called El Salvador that is investing heavily in this. As the country is full of volcanoes that emit clean energy, the government encourages miners to migrate there, spending is 0 on energy!
• Bitcoin Wallet: It is also necessary to have a Bitcoin Wallet in order to receive your satoshis. This is the easiest and least time-consuming process to do. You will be able to create a wallet both inside and outside exchanges, either through hardwallets or coldwallets.
• Mining Pools: this is where you join a "community" and offer your computing power with other members, when mining (both you and your partners) share the reward;
• Have a Mining program: there is no point in having the computational power, energy, wallet, being part of mining pools and not having mining software! There are many programs, among them, the best known are: EasyMiner, CGMiner and BFGMiner.

Is Bitcoin Mining Worth It?

     It is a fact that, nowadays, it is not worth mining bitcoin at home, let alone, by smartphone! That does not exist! However, there are some solutions for you, dear reader, who really want to do cryptocurrency mining at home!

     Some other cryptocurrencies do not have the Hashrate as high and competitive as Bitcoin. We always mention here on the site the case of Litecoin, which is an excellent cryptocurrency and alternative to btc to mine.

With Gomining you can!

     Gomining is a platform that allows you to buy / sell NFT's (which are BTC mining machines) and so you can delegate this function to a mining farm, as you avoid energy and machine maintenance costs!

     The platform is quite interesting and allows you too: do NFT's trade, so just create your platform account, connect your wallet and make a deposit or BTC, or GMT (Gomining token) to start renting your first NFT's and accumulate rewards to, at a timely time to make their profits.

     It may take a while for you to recover your investment, but keep in mind that you can leave your NFT yielding "forever" on the platform, as the mining farm will take care of machines and energy costs ... To get confidence on the platform, it is worth considering renting a more powerful machine!

Lucas Lippe

The idea of freedom is fascinating and Bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.

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