A Bitcoin is a digital currency that is decentralized currency as it is not controlled by an individual, bank, government or credit card company. The community controls the Bitcoin, and not any central authority.
Each transaction is recorded called the blockchain. Here the miners verify the transactions using bitcoin mining profitability calculator. In fact, Bitcoins are directly transferred from person to person and it reduces fees associated.
Bitcoin Mining Hardware
Bitcoin was invented and CPU was regarded to be the mine. Very soon the miners realized the GPU is effective. The GPUs prices skyrocketed in the market that the miners bough the GPUs.
Eventually, an ASIC specifically invented for mining Bitcoins efficiently. Now, ASICs is the only way of mining Bitcoin. The bitcoin mining hardware dramatically evolved. Thus, the best bitcoin mining pool evolved in 2009. Initially, the CPU was used; later the GPU was faster and used less power. In 2011, the industry came with custom equipment pushing the standards higher. FPGA miners used lesser power than CPU’s or GPU’s and produced concentrated mining farms.
Today’s modern bitcoin mining hardware
There are many ASIC miners and these machines are at unprecedented speeds using less power than GPU or FPGA mining rigs. There are many reputable established companies offering excellent products. To name a few bitcoin mining hardware are AntMiner S7, AntMiner S9, Avalon6 Bitcoin Miner, ASIC Bitcoin Mining Hardware, AntMiner U2, and lots more. The ASIC technology keeps Bitcoin getting faster, more productive and efficient that the limits are pushed to ensure best Bitcoin mining hardware.
what is bitcoin mining
Again, this is a question, Reddit bitcoin mining? People can mine bitcoins using the above mentioned hardware. But, if you are not keen in the actual hardware operation, you can always buy Bitcoin cloud mining contracts. A few of them are:
Hashflare Review: Hashflare provides mining contracts SHA-256 and these can be mined while there are still automatic payouts in BTC. In fact, customers may buy 10 GH/s minimum.
Genesis Mining Review: This is the largest provider of Bitcoin cloud mining. Genesis Mining provides three plans of Bitcoin cloud mining plans reasonably priced. Even, Zcash mining contracts are available.
Hashing 24 Review: This is involved since 2012. They have bitcoin mining facilities in Georgia and Iceland. They employ modern ASIC chips to deliver maximum efficiency and performance possible.
There are many more namely, Minex, Minergate, Hashnest, NiceHash, Eobot and MineOnCloud.