Bitcoin Mining Guide - Getting started with Bitcoin mining

Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot.

How Bitcoin Mining Works

Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.

The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.

Step 1 - Get The Best Bitcoin Mining Hardware

Purchasing Bitcoins - In some cases, you may need to purchase mining hardware with bitcoins. Today, you can purchase most hardware on Amazon. You also may want to check the bitcoin charts.

How To Start Bitcoin Mining

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to 100x the capability of older systems have come to dominate the Bitcoin mining industry.

Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. Several companies such as Avalon offer excellent systems built specifically for bitcoin mining.

Best Bitcoin Cloud Mining Services

Another option is to purchase in Bitcoin cloud mining contracts. This greatly simplifies the process but increases risk because you do not control the actual physical hardware.

Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.

Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.

Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.

Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.

Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.

Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.

Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.

Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.

NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.

Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.

MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.

Bitcoin Mining Hardware Comparison

Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:

What is a Bitcoin Mining Farm?

A Bitcoin mining farm is a computer data center that is focused on mining Bitcoins.Take the traditional way of obtaining goods. This usually involves exchanging paper money with the seller in return for the desired item or service. Bitcoins are relatively new to most people. They have no central control through any government institution like common currency does.

Their exchange rates are not controlled, nor are other factors like, for example, inflation.To earn bitcoins one must obtain specially developed software that most miners use. Then, a certain mathematical problem will be assigned that needs a solution. Once a math question has been solved a fixed amount of Bitcoins are awarded to the user who has solved the question.

This process ensures that an incentive is being used to drive the user’s interest to further mine.Security in any financial transaction is always placed at the top of the priority list and Bitcoin security is no exception. Every transaction needs the approval of the bitcoin miner who has initiated the process. Mining is essential in order to keep the Bitcoin network up and running and to ensure its security. Moreover, it helps with keeping the whole network fair as well.

To understand more in depth about bitcoin mining, one must first understand the 2 essential principles of it. In order to confirm a transaction, the bitcoin user must assign enough effort to the block running the whole process. This process itself will create new bitcoins.In other words, you first need to assign several transactions to a particular block.

Secondly, you, as a bitcoin user, must verify the transaction. Thirdly, you pick a particular block and insert it into another block as a hash. A hash is basically an encryption as it shortens the original data from the transaction. A hash is made up of tens and tens of different letters and numbers.

The whole bitcoin mining work would be so much easier if that was all that had to be done.On average, there are about 5-15 new blocks being created every 10-20 minutes. But this can significantly vary between different times of the day. Keep in mind that while in the process of mining bitcoins the system converts all data from the most recently ran block into the above-mentioned hash.

Then, as mentioned above, you must solve the mathematical problem given to you. Once solved, your block will be passed on to the main chain of blocks on the network.You could also summarize the bitcoin mining process as the process of adding new transactions to the main log of all past bitcoin verified processes. The log is sometimes called a block chain as well.

The block chains main function is to confirm all the past and present transactions to the whole network in general.Again, in simpler words, the verification through the block chain prevents used bitcoins being spent again somewhere else. The whole mining process is designed to be difficult so that the bitcoin miners are able to mine only a certain amount of bitcoins each day.

Blocks that are on its own must have what is called proof of work. Only this will guarantee acceptance and allowed it to be deemed as valid. Proof of work is needed to ensure that the process was difficult enough and that it required a certain amount of time to be completed. This validation process must again be approved by other Bitcoin nodes every time a new block is received.

The name of the process, Bitcoin Mining, has come from the resemblance of mining other valuable resources such as Gold or other Metals. New bitcoin currency is created almost at the same pace as real life metal valuables are being extracted from the ground. The Bitcoin mining process is hard because the block’s header must be less than or equal to the specified amount for it to be accepted by the network.To make it easier to understand, here’s another explanation: the process must start with a fixed number of zeros.

The probability of that, however, is low. This calls for far too many tries to be made. To solve this problem, and to create a new hash on every round, a nonce is always added. Now that the bitcoin mining has been explained more or less, let’s talk about bitcoin mining farms.Bitcoin mining farms are the massive structures, in digital terms, that keep the whole thing up and running.

They keep the network secure and safe from external threats such as hacking. Some of these farms, like the one in China, for example, make up to $2 million a month.And this is just for one such farm. China alone has 4 of them. These 4 farms add to a total of 3% of the entire network. The individuals behind the bitcoin mining farm are the ones who without which you would not be able to buy or sell any bitcoins whatsoever.

You might not have known that the bitcoin mining farm workers actually live inside the structure. They only spend 4-5 days a month outside of the bitcoin mining farm.The conditions inside the bitcoin mining farm are less than ideal, as temperatures can easily reach up to 45-50 degrees Celsius. A certain, distant buzz is always present from the many custom made computers that work there.

These computers are specially built for bitcoin mining.One such site in China has 3000 of them. In 2014, Bitcoin mining had finally gained some world recognition. Including from giant firms like Microsoft and Dell.As this happened, bitcoin mining farms got their fair share of attention too.

A year later, in 2015, the first licensed exchange was opened in the United States, a huge step forward for this new online currency.Nowadays, there are countless sites that accept this cryptocurrency. Without a bitcoin mining farm, no one would have been able to confirm the transactions mentioned above. Hence, bitcoin mining would have become useless and unusable.

Bitcoin mining farms are growing with hefty speed around the globe, so is the amount of custom made technology to support it. One such bitcoin mining farm employee has estimated that by 2020, there will be at least 5-10 bitcoin mining farms per country and that the currency will be used by every 10th person.

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Bitcoin mining farm

How Bitcoin Mining Works

Where do bitcoins come from? With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government.

With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

Bitcoin is Secure

Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.

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Bitcoin Mining Hardware Comparison

Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:

AntMiner S7

AntMiner S9

Overview - Table of Contents
Mining Hardware Comparison
What is Bitcoin Mining?
What is the Blockchain?
What is Proof of Work?
What is Bitcoin Mining Difficulty?
The Computationally-Difficult Problem
The Bitcoin Network Difficulty Metric
The Block Reward

Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

What is Bitcoin Mining?

What is the Blockchain?

Bitcoin mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.

The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins.

This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.

Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.

What is Proof of Work?

A proof of work is a piece of data which was difficult (costly, time-consuming) to produce so as to satisfy certain requirements. It must be trivial to check whether data satisfies said requirements.

Producing a proof of work can be a random process with low probability, so that a lot of trial and error is required on average before a valid proof of work is generated. Bitcoin uses the Hashcash proof of work.

What is Bitcoin Mining Difficulty?

The Computationally-Difficult Problem

Bitcoin mining a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the target in order for the block to be accepted by the network.

This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. See Proof of work for more information.

The Bitcoin Network Difficulty Metric

The Bitcoin mining network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.

As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.

The Block Reward

When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.

Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

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Beginner’s Guide to Mining Bitcoins

Last updated on May 18th, 2018 at 03:08 pm

One of the biggest problems I ran into when I was looking to start mining Bitcoin for investment and profit was most of the sites were written for the advanced user. I am not a professional coder, I have no experience with Ubuntu, Linux and minimal experience with Mac. So, this is for the individual or group that wants to get started the easy way.

1. Get a Bitcoin mining rig

Bitcoin mining is a very competitive niche to get into. As more and more miners come on board with the latest mining hardware the difficulty to mine increases each day. Before even starting out with Bitcoin mining you need to do your due diligence. This means you need to find out if Bitcoin mining is even profitable for you.

The best way to do this is through the use of a Bitcoin mining calculator. Just enter the data of the Bitcoin miner you are planning on buying and see how long it will take you to break even or make a profit. However, I can tell you from the get go that if you don’t have a few hundred dollars to spare you probably won’t be able to mine any Bitcoins.

Once you’ve finished with your calculations it’s time to get your miner. Make sure to go over our different Bitcoin mining hardware reviews to understand which miner is best for you. Today, the Antminer S9 is the newest and most powerful miner.

Select miner

AntMiner S9

Antminer R4

Antminer T9

AntMiner S7

AntMiner S5

Antrouter R1

As a side note it’s important to state that in the past it was possible to mine Bitcoins with your computer or with a graphics card (also known as GPU mining). Today however, the mining niche has become so competitive that you’ll need to use ASIC miners – special computers built strictly for mining Bitcoins.

2. Get a Bitcoin wallet

First thing you need to do is get a “Bitcoin Wallet“. Because Bitcoin is an internet based currency, you need a place to keep your Bitcoins. Once you have a wallet make sure to get your wallet address. It will be a long sequence of letters and numbers. Each wallet has a different way to get the public Bitcoin address but most wallets are pretty straight forward about it. Notice that you’ll need your PUBLIC bitcoin address and not your PRIVATE KEY (which is like a password for your wallet).

If you’re using a self hosted wallet (i.e. you downloaded a program to your computer and are not using an internet based service) there’s one additional very important step. Make sure you have a copy of the wallet.dat file on a thumb drive and print a copy out and keep it in a safe location. You can view a tutorial on how to create a secure wallet here. The reason is that if you computer crashes and you do not have a copy of your wallet.dat file, you will lose all of your Bitcoins. They won’t go to someone else, they will disappear forever. It is like burning cash.

3. Find a mining pool

Now that you have a wallet you are probably roaring to go, but if you actually want to make Bitcoin (money), you probably need to join a mining pool. A mining pool is a group of Bitcoin miners that combines their computing power to make more Bitcoins. The reason you shouldn’t go it alone is that Bitcoins are awarded in blocks, usually 12.5 at a time, and unless you get extremely lucky, you will not be getting any of those coins.

In a pool, you are given smaller and easier algorithms to solve and all of your combined work will make you more likely to solve the bigger algorithm and earn Bitcoins that are spread out throughout the pool based on your contribution. Basically, you will make a more consistent amount of Bitcoins and will be more likely to receive a good return on your investment.

When choosing which mining pool to join you will need to ask several questions:

What is the reward method? – Proportional/Pay Per Share/Score Based/PPLNS
What fee they charge for mining and withdrawal of funds?
How frequently they find a block (means how frequently I get rewarded)?
How easy it is to withdraw funds?
What kind of stats they provide?
How stable is the pool?

To answer most of these questions you can use our best Bitcoin mining pools review or this excellent post from BitcoinTalk. You can also find a complete comparison of mining pools inside the Bitcoin wiki. For the purpose of demonstration I will use Slush’s Pool when mining for Bitcoins. Once you are signed up with a pool you will get a username and password for that specific pool which we will use later on.

Follow the link to go to their site and click the “Sign up here” link at the top of their site and follow their step by step instructions. After you have your account set up, you will need to add a “Worker”. Basically, for every miner that you have running, you will need to have a worker ID so the pool can keep track of your contributions.

4. Get a mining program for your computer

Now that you’ve got the basics covered we’re almost ready to mine. You will need a mining client to run on your computer to that you will be able to control and monitor your mining rig. Depending on what mining rig you got you will need to find the right software. Many mining pools have their own software but some don’t. You can find a list of Bitcoin mining software here.

I’m using a mac so I will use a program called MacMiner. The most popular program I’ve found for a PC are BFGMiner and 50Miner . If you want to compare different mining software you can do this here.

5. Start mining

OK, so hopefully now everything is ready to go. Connect you miner to a power outlet and fire it up. Make sure to connect it also to your computer (usually via USB) and open up your mining software. The first thing you’ll need to do is to enter your mining pool, username and password.

Once this is configured you’ll basically start mining for Bitcoins. You will actually start collections shares which represent your part of the work in finding the next block. According to the pool you’ve chosen you will be paid for your share of coins – just make sure that you enter your address in the required fields when signing up to the pool. Here’s a full video of me mining in action:

Conclusion – perhaps it’s better just to buy the coins?

To conclude this article here’s something to consider. Perhaps it would be more profitable for you to just buy Bitcoins with the money you plan to spend on Bitcoin mining. Many times just buying the coins will yield a higher ROI (return on investment) than mining. If you want to dig into this a bit deeper here’s a post about exactly that.

How to Run a Profitable Bitcoin Mining Farm

Last updated on January 2nd, 2018 at 12:00 am

One of the most unique aspects of Bitcoin is that you can generate it through the process of mining, which is something anyone with a computer can do. This is unlike fiat currency which can only be printed by the government. This makes Bitcoin somewhat similar to gold and other precious metals, since they can only be mined, not printed on demand. Bitcoin mining is far different than extracting resources out of the Earth however. Instead it involves your computer solving complex equations. The equations solved during Bitcoin mining are cryptographic hashing functions, which are usually referred to as hashes.

Why is Bitcoin Mining Important?

Mining is important because it confirms transactions and secures the blockchain. Without mining Bitcoin transactions would never be confirmed and Bitcoin would become unusable. The blockchain is a list of all the transactions in Bitcoin’s history, and it is composed of blocks which are groups of transactions from around the same time. There is on average a new Bitcoin block every 10 minutes, but this can vary wildly from a few seconds between blocks to several hours.

When mining your computer turns all of the data from the most recent block of transactions into a hash, which is far shorter than the original transaction data and is comprised of a complex series of letters and numbers.

It would be relatively easy to solve Bitcoin hashes if turning a list of transactions into a hash was the only requirement, but Bitcoin protocol makes this more difficult through requiring a string of zeroes in the hash. The ‘nonce’ variable is used to get the required string of zeroes, and it takes many iterations to get the correct hash format.

Everytime the computer gets a wrongly formatted hash the nonce variable is changed and the computer tries again. In general it takes billions of iterations in order to find the correct Bitcoin block hash. Changing even 1 letter in the transaction data leads to a completely different hash, so as more transactions are added to a block the correct hash is constantly changing.

How Can I Start Mining Bitcoins?

There are many types of Bitcoin mining hardware. It is possible to mine Bitcoin on any computer using the central processing unit (CPU). However your hash rate will be on the order of MH/s (millions of hashes per second), which is an infinitesimally small hash rate in the Bitcoin world. It would take millions of years to find a block with a hashrate in the MH/s range.

The next step up from using a CPU is using your computer’s graphics processing unit (GPU). The fastest GPUs in existence can mine Bitcoin around 1 GH/s (billions of hashes per second). It would take thousands of years to find a Bitcoin block however when mining at 1 GH/s. Even if you have a powerful 1 TH/s (trillions of hashes per second) mining rig, which costs at least $1000, it would take several years to find a block.

The solution to this is joining a mining pool, which is a network of miners that combine their mining power in order to find blocks. The biggest Bitcoin mining pools are Ghash.io and Slush’s pool. When you mine on a pool you earn a share of the block reward proportional to the amount of hashes you solved, and on big pools like ghash.io you can earn a piece of a block every hour or less. Mining Bitcoin by yourself only becomes feasible when you have 1 PH/s (1 quadrillion hashes per second) or more, at 1 PH/s it takes on average 20 hours to find a block and currently there are no miners with such a hash rate.

So it’s simply not worthwhile to mine Bitcoin with a CPU or GPU. Currently the only way to profitably mine Bitcoin is to use an application-specific integrated circuit (ASIC), which is a machine built specifically for mining Bitcoin. The weakest ASICs have hashrates from 1-3 GH/s, they are the size of your thumb and can be plugged into a USB port. Generally these cost around $20, making it affordable for anyone who wants to get into Bitcoin mining. These small ASICS are unprofitable however, it would take well over a year to earn the $20 you initially spent on the ASIC, and this estimate doesn’t even account for electricity costs.

In order to make real profits when mining Bitcoin you need to buy a much larger rig, since the price per hashrate drops the larger the rig is. A 1 TH/s Bitcoin mining rig costs between $200 and $500, and will generate 0.05 Bitcoin ($30) per month. This means a 1 TH/s mining rig will break even in 7-15 months, but this does not take into account the hefty electricity costs. After the break even point you would make several hundred dollars a year of profit with a 1 TH/s mining rig.

Thus, in order to run a profitable Bitcoin mining operation you need to continuously buy new and more advanced mining rigs with your profits. Many serious Bitcoin miners buy new mining rigs each month. Theoretically you can turn a 1 rig mining operation into a full-fledged Bitcoin mining farm within a few years if you start with a powerful rig and re-invest profits into new machinery.

Is There A Simpler Way to Start Mining Bitcoins?

Another way to mine Bitcoin is through buying mining contracts on a cloud mining website. The most popular Bitcoin cloud mining site is Genesis Mining. When you buy mining contracts on you start receiving Bitcoin payouts immediately, and the mining contract lasts forever. One of the caveats of cloud mining operations is they charge you electricity and hardware maintenance fees, and these fees absorb about 30% of your mining profits initially.

Personally I think most if not all cloud mining sites should be avoided. The reason being is that 99% of them are just ponzi schemes and the rest just won’t be profitable enough.

What is the Most Profitable Way to Mine Bitcoins?

In order to profitably mine Bitcoin you need to buy your own ASIC mining rig. Here’s a list of the most successful rigs today:

Select miner

AntMiner S9

Antminer R4

Antminer T9

AntMiner S7

AntMiner S5

Antrouter R1

Mining Bitcoin with your GPU/CPU will cost more in electricity than it will generate in Bitcoin. Also, buying mining contracts on a cloud mining site is guaranteed to lose money in the long term. In order to make significant profits you need to use a Bitcoin mining calculator and figure out your required hash rate. Smaller mining rigs will eventually make profit, but it might take a year to break even and the profits wouldn’t be worthwhile.

Largest Bitcoin Mining Farm in UK Seeking Investors

Bladetec, a UK tech company with past experience in IT support for NATO and the UK Ministry of Defense, is building the first Bitcoin mine in Europe funded by investors in a limited company protected by UK law.

Bladetec Raising £10 million To Build Largest Bitcoin Farm In The UK

Located in the Southeast of the United Kingdom, the facility – Third Bladetec Bitcoin Mining Company (TBBMC) – will cover 3,500 square feet divided in three locations in London, Surrey, and Suffolk.

In order to build and operate the farm for up to two years, the company is raising £10 million from investors. With the money, Bladetec “will acquire approximately 1000 ASIC (Application Specific Integrated Circuits)-based Mining Computers all running at 43 Terra-Hashes per second (a speed so unfathomably fast, it’s nigh on impossible to quantify; suffice to say, it’s the fastest available globally today)”, says the campaign published on Envestry.

This will create a significant global mine, placing them in the world’s top 25 and as a result of this dominant position, produce significant returns for shareholders.

The TBBMC project offers wants a minimum investment of £5,000 from each investor. Due to its Bitcoin’s volatile nature, the project allows for four different growth scenarios with up to 45% capital growth per year and an exit within 2 to 3 years. At that stage, shareholders’ returns “will be based on the proceeds of the sale of the mined Bitcoins and the ASIC machines”.

The four different scenarios range from a 40% drop in BTC price to an eventual +50% rally. The return on investment after 24 months is projected to go as high as £210,157 with an initial investment of £100,000, according to the company’s projections. If the price of Bitcoin does drop by 40%, an investor would lose approximately 22% of capital.

According to The Telegraph, the company is planning to mine 1,280 bitcoins in the two-year period. It is hard to predict how much those Bitcoins will be worth in two years. At current prices, they would be valued at £7.8 million, but much can change and probably will before 2021. Most of the funds raised are destined to be spent on energy costs, even as Bladetec reaches an agreement with a wind farm to keep the energy bills low, as intended.

Bitcoin farming is more attractive for business in countries with colder weather, such as China and Iceland. The Icelandic authorities, however, may implement a tax on Bitcoin mining due to the energy consumption. And the Chinese government insists on ending all cryptocurrency trading and mining in the country.

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www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

What is Bitcoin Mining?

Bitcoin Mining Hardware Comparison

Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:

AntRouter R1

Antminer S9

BPMC Red Fury USB

Overview - Table of Contents
What is Bitcoin Mining?
Technical Background
Bitcoin Mining Hardware
Bitcoin Mining Software
Bitcoin Cloud Mining
Mining Infographic
What is Proof of Work?
What is Bitcoin Mining Difficulty?
Other Languages

Before we begin.

Before you read further, please understand that most bitcoin users don't mine! But if you do then this Bitcoin miner is probably the best deal. Bitcoin mining for profit is very competitive and volatility in the Bitcoin price makes it difficult to realize monetary gains without also speculating on the price. Mining makes sense if you plan to do it for fun, to learn or to support the security of Bitcoin and do not care if you make a profit. If you have access to large amounts of cheap electricity and the ability to manage a large installation and business, you can mine for a profit.

If you want to get bitcoins based on a fixed amount of mining power, but you don't want to run the actual hardware yourself, you can purchase a mining contract.

Another tool many people like to buy is a Bitcoin debit card which enables people to load a debit card with funds via bitcoins.

What is Bitcoin mining?

Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants.

Technical Background

During mining, your Bitcoin mining hardware runs a cryptographic hashing function (two rounds of SHA256) on what is called a block header. For each new hash that is tried, the mining software will use a different number as the random element of the block header, this number is called the nonce. Depending on the nonce and what else is in the block the hashing function will yield a hash which looks something like this:

You can look at this hash as a really long number. (It's a hexadecimal number, meaning the letters A-F are the digits 10-15.) To ensure that blocks are found roughly every ten minutes, there is what's called a difficulty target. To create a valid block your miner has to find a hash that is below the difficulty target. So if for example the difficulty target is

any number that starts with a zero would be below the target, e.g.:

If we lower the target to

we now need two zeros in the beginning to be under it:

Because the target is such an unwieldy number with tons of digits, people generally use a simpler number to express the current target. This number is called the mining difficulty. The mining difficulty expresses how much harder the current block is to generate compared to the first block. So a difficulty of 70000 means to generate the current block you have to do 70000 times more work than Satoshi Nakamoto had to do generating the first block. To be fair, back then mining hardware and algorithms were a lot slower and less optimized.

To keep blocks coming roughly every 10 minutes, the difficulty is adjusted using a shared formula every 2016 blocks. The network tries to change it such that 2016 blocks at the current global network processing power take about 14 days. That's why, when the network power rises, the difficulty rises as well.

Bitcoin Mining Hardware

In the beginning, mining with a CPU was the only way to mine bitcoins and was done using the original Satoshi client. In the quest to further secure the network and earn more bitcoins, miners innovated on many fronts and for years now, CPU mining has been relatively futile. You might mine for decades using your laptop without earning a single coin.

About a year and a half after the network started, it was discovered that high end graphics cards were much more efficient at bitcoin mining and the landscape changed. CPU bitcoin mining gave way to the GPU (Graphical Processing Unit). The massively parallel nature of some GPUs allowed for a 50x to 100x increase in bitcoin mining power while using far less power per unit of work.

While any modern GPU can be used to mine, the AMD line of GPU architecture turned out to be far superior to the nVidia architecture for mining bitcoins and the ATI Radeon HD 5870 turned out to be the most cost effective choice at the time.

As with the CPU to GPU transition, the bitcoin mining world progressed up the technology food chain to the Field Programmable Gate Array. With the successful launch of the Butterfly Labs FPGA 'Single', the bitcoin mining hardware landscape gave way to specially manufactured hardware dedicated to mining bitcoins.

While the FPGAs didn't enjoy a 50x - 100x increase in mining speed as was seen with the transition from CPUs to GPUs, they provided a benefit through power efficiency and ease of use. A typical 600 MH/s graphics card consumed upwards of 400w of power, whereas a typical FPGA mining device would provide a hashrate of 826 MH/s at 80w of power.

That 5x improvement allowed the first large bitcoin mining farms to be constructed at an operational profit. The bitcoin mining industry was born.

The bitcoin mining world is now solidly in the Application Specific Integrated Circuit (ASIC) era. An ASIC is a chip designed specifically to do one thing and one thing only. Unlike FPGAs, an ASIC cannot be repurposed to perform other tasks.

An ASIC designed to mine bitcoins can only mine bitcoins and will only ever mine bitcoins. The inflexibility of an ASIC is offset by the fact that it offers a 100x increase in hashing power while reducing power consumption compared to all the previous technologies.

Unlike all the previous generations of hardware preceding ASIC, ASIC may be the "end of the line" when it comes to disruptive mining technology. CPUs were replaced by GPUs which were in turn replaced by FPGAs which were replaced by ASICs. There is nothing to replace ASICs now or even in the immediate future.

There will be stepwise refinement of the ASIC products and increases in efficiency, but nothing will offer the 50x to 100x increase in hashing power or 7x reduction in power usage that moves from previous technologies offered. This makes power consumption on an ASIC device the single most important factor of any ASIC product, as the expected useful lifetime of an ASIC mining device is longer than the entire history of bitcoin mining.

It is conceivable that an ASIC device purchased today would still be mining in two years if the device is power efficient enough and the cost of electricity does not exceed it's output. Mining profitability is also dictated by the exchange rate, but under all circumstances the more power efficient the mining device, the more profitable it is. If you want to try your luck at bitcoin mining then this Bitcoin miner is probably the best deal.

Bitcoin Mining Software

There are two basic ways to mine: On your own or as part of a Bitcoin mining pool or with Bitcoin cloud mining contracts and be sure to avoid Bitcoin cloud mining scams. Almost all miners choose to mine in a pool because it smooths out the luck inherent in the Bitcoin mining process. Before you join a pool, make sure you have a bitcoin wallet so you have a place to store your bitcoins. Next you will need to join a mining pool and set your miner(s) to connect to that pool. With pool mining, the profit from each block any pool member generates is divided up among the members of the pool according to the amount of hashes they contributed.

How much bandwidth does Bitcoin mining take? If you are using a bitcoin miner for mining with a pool then the amount should be negligible with about 10MB/day. However, what you do need is exceptional connectivity so that you get any updates on the work as fast as possible.

This gives the pool members a more frequent, steady payout (this is called reducing your variance), but your payout(s) can be decreased by whatever fee the pool might charge. Solo mining will give you large, infrequent payouts and pooled mining will give you small, frequent payouts, but both add up to the same amount if you're using a zero fee pool in the long-term.

Bitcoin Cloud Mining

By purchasing Bitcoin cloud mining contracts, investors can earn Bitcoins without dealing with the hassles of mining hardware, software, electricity, bandwidth or other offline issues.

Being listed in this section is NOT an endorsement of these services and is to serve merely as a Bitcoin cloud mining comparison. There have been a tremendous amount of Bitcoin cloud mining scams.

Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.

What is Bitcoin Mining?

Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.

What is Proof of Work?

A proof of work is a piece of data which was difficult (costly, time-consuming) to produce so as to satisfy certain requirements. It must be trivial to check whether data satisfies said requirements.