Hardware Mining Bitcoin is still a smart choice – Mining Cryptocurrency have become very popular over the last 5 years because of the Bitcoin has seen a considerable rise in price. This popularity has contributed to the flood of new mining rig developed. The ever-changing landscape of the mining sector stakeholders can make a confused with a value of future mining hardware Bitcoin and if this equipment purchase is still a smart step.

A quick search of the forum of mine and you can see that these concerns are really a problem in the year 2013 when miners CPU (Central Processing Unit) was replaced by the drilling rig the GPU (Graphic Processing Unit) and then defeated by ASIC (Application Specific Integrated Circuit) model. Producers reap big results from this product. Therefore, the further development of a more powerful mining equipment.

What is Mining?

To Minin/Mining is the process in which a computer network (node) adding the next block to blockchain after completing a difficult mathematical equations known as evidence. At the initial stage of mining, this can be accomplished with nothing more than Your home PC CPU.

Not long before the miners realized that the GPU is much more efficient in dealing with the recurring nature of the algorithm Proof-of-Work and by the end of 2013, the GPU is mining standards. It has some serious consequences because it increases both the cost of acquiring mining equipment, as well as the overall difficulty of the mining sector.

Increased difficulty

Part of the algorithm is proof-of-work is the adjustment difficulties. As more and more computing resources entered mining, algorithms work evidence make mining more difficult math problems solved. In the year 2016, the mining sector experienced a boom both in the value of cryptocurrency as well as the difficulty of mining. Up to now, the majority of GPU-based but still mining introduction to rig mines ASIC which is much more efficient to quickly make an effort of BTC mining is expensive to begin with.

GPU Hardware Life Expectancy – Mining Bitcoin

The graph below shows how fast the hardware GPU Bitcoin mining has suffered since the introduction of the rig ASIC. In 2011, the average miner GPU can expect anywhere from BTC 100-200 for their efforts. Just one year later, this result is reduced to about 30 BTC and in 2013, you'll be lucky strikes 3 BTC use this hardware. These data indicate that in the year 2014, the number of BTC can you expect to mine using the GPU dropped below 1 BTC; create a miner GPU is practically obsolete when used alone.

Date Of Delivery Of Your Equipment

Due to incredible demand for mining hardware BTC, there are now waiting for the associated with the purchase of these products. Miners ASIC can you have in a waiting period which can extend for months. It is important to take into consideration fluctuations in difficulty during this time. Basically, if you have to wait too long for Your mining equipment, it may not be feasible at the moment it arrived.

The Cost Of Electricity

The cost of electricity should be one of Your main concerns when deciding what type of mining rig that will be purchased. You may find that you are losing money if you go with a high-powered rig mining in areas where electricity is expensive. Mining equipment today is focused on efficiency because the older mining rig could not turn a profit in a tough mining ecosystem at this time.

The Price Of The Bitcoin

Overall price BTC (or crypto can be mined more) is another determining factor to consider when deciding on buying a mining rig will survive within a certain period. When the value of BTC rises, so does the profitability of mining this crypto. As stated previously, miners single GPU can produce more than 100 BTC in 2011. While the number of coins that can be lowered by one GPU only, the value of BTC have approached 1000% since that time.

Future Transaction Costs

Gifts for mining blocks is expected to be half of every 210,000 blocks. This means that around 2020, may return for the mining of the BTC will drop from 12.5 BTC being 6.25 BTC. Although this seems like could destroy the mining industry, you should consider that there will only be mined and BTC 21 million of it 17,048,151 have been mined. This means you can expect to see some serious price increases because the number of available BTC to mined was reduced in the next few years.

Miners ASIC – things to consider

While mining rig ASIC much more efficient on mining than peers of their GPU, you must remember that these chips can only be mine the SHA-256 cryptocurrency and because it serves no purpose after this task is completed. This is a stark contrast with the GPU chip can still be used for intense graphics applications such as games long after the BTC have been mined.