Crypto mining today

Crypto mining today

Cryptocurrency is one of the types of digital currency, electronic money. But unlike traditional systems, where all data is stored on a centralized server, crypto-currencies are decentralized. And if an ordinary server in theory someone can hack or disable, then there is no such danger with cryptocurrency: copies of the database of transactions lie on the computers of all participants of the system, and they are constantly checked against each other by special algorithms.

–°rypto mining 2018

If you happen to “wander” through pages of websites in search of a way to earn extra money, then you simply could not not find information (in text or video format) on earnings on the extraction of cryptographic money on these pages. And there is such information about crypto mining explanation so often, and promises so tempting prospects, that involuntarily there is an idea – is not it an attempt to lure honest citizens into fraudulent networks and to rob them?
In principle, such a reaction is understandable, and predictable. Times are difficult now, everyone tries to survive by virtue of their abilities and abilities, and for some reason the abilities with a criminal smell are especially vivid.

But this, is not the case for crypto mining definition. To be sure, just ask the experts’ opinion and you will understand that the mining of cryptocurrencies is really a profitable business, and in some cases very high-yielding. Another question is how long will this “Klondike” last? Here there are different forecasts. Today we will consider prospects for the near future, namely, for the mining of 2018.

Before looking into the future, let’s find out what situation has developed in the digital money mining industry at the moment.

As before, now, crypting is primarily of interest to users in terms of possible material benefits. True, it was much easier to extract this benefit earlier. Anyone who had a more or less powerful computer could join the process of generating new coins, which can not be said about the current situation. Now, to be called a miner, you must first invest in the organization of this business a tidy sum.

Indeed, the ways of digging out digital money, which were popular and actual two or three years ago, are now obsolete and ineffective. The key to the success of modern mining is the availability of powerful modern equipment, imprisoned for the production of crypts. And it is very expensive, and moreover it tends to become obsolete, because the complexity of the process is constantly increasing. And if so, equipment from time to time requires updating, which again is impossible without costs.

Does this mean that now this activity is available only to crypto mining companies? Not really. Solo mining was replaced by mining in pools, that is, simple miners began to combine their capacities in one center and work on the calculation of blocks collectively. Although here the requirements to the participants are constantly growing, as the industry develops and becomes more complicated and agreed to crypto mining contracts.

From all that has been said above, the conclusion suggests that crypto mining app, as a way of earning, loses its positions and soon becomes a thing of the past. But is it really so? What do experts say about this? We will try to answer these questions in this article.

The essence of the process and prospects

Well, the essence of the process remains the same as before and you can read it on crypto mining forum. As you know, digital money differs from the usual for us fiat, including the way of emission. If the currencies of different countries are printed on the orders of the Central Banks, and the volume of emissions is also determined by these respected government institutions, then with virtual money everything happens quite differently. There is no central regulator here, and by the appearance of the crypto-currency, they are obliged to the so-called miners or, in other words, to network participants who, on special equipment, generate these coins. Any user who has at least minimal knowledge in this field and who possesses the appropriate equipment can extract virtual money. Often, you do not even need to specify your personal data anywhere for crypto mining cards, most crypto communities have the opportunity to remain completely anonymous.

Thus, in essence, the mining of 2018 is the same as the extraction of previous years – the work of users to calculate the next digital coins of a particular cryptocurrency. And the goals have remained the same – the receipt of income in the crypt, because these intangible coins can be used in many ways, from the exchange to the usual money and ending with the payment of some of their needs or whims.

It can not be said that there is no disagreement in the expert environment about the prospect of such an occupation as “digging” digital money in the near future, but most experts agree that the demand for this type of earnings will not fall. Another thing is that “ordinary mortals” among the harvesters will become less and less.

And the reason lies precisely in the growing complexity of mining, which we already mentioned. At the moment, the situation is as follows: the excitement caused by cryptographic money leads to a rise in price of special equipment and to the growing complexity of the process itself. These deplorable moments, in turn, increase the payback periods of the mining farms (and in some cases, the costs do not pay off at all). Of course, what kind of crypt you earn is of great importance. But even those coins that are leading in profitability (for example, the Efirium), no longer bring that income that before.