Getting into the world of bitcoin is exciting, but can also be a little confusing. Read on to learn about bitcoin and how to get started as a USB bitcoin miner.
Do you think you have what it takes to become a bitcoin miner? Are you looking at buying a USB Bitcoin Miner?
Maybe you’re drawn to some of the things you’ve heard about Bitcoin-- how it may be the currency of the future. Maybe you’ve heard of how versatile and simple it is to use and exchange.
We live in an age where you can take out your smartphone and send 10 different amounts of Bitcoin to 10 different people, in 10 different countries, in less than 10 minutes.
And you can do it from your smartphone, in your pajamas with a cup of tea.
If you wanted to do the same thing with traditional currency, it would take you a day just to work with all the banks involved to confirm and transfer the amount...
Plus convert to their own local currency. And then the money would be in escrow for a few days. But again, with Bitcoin: 10 minutes, smartphone, pajamas, tea.
It’s done! How is this possible? Behind the hard work and digital heavy lifting of bitcoin miners. Want to become one? Here’s how:
The term “miner” actually is very accurate and fitting. In the old, old days before we started to print money, jewels and medals were the currency we exchanged.
Miners would be the ones going into the mines and unearthing these precious stones and metals so they could be put into the economy. And for their trouble, these miners would often get rewarded with a bit of currency themselves.
That’s pretty much the model of the Bitcoin miner. Only, they’re not using a pickaxe, they’re using a specialized software, or hardware like a USB Bitcoin Miner.
They go out on the web and solve incredibly complex math problems to mine the Bitcoin currency, and when they succeed, they’re rewarded with Bitcoin payments for their hard work.
Now, they also earn money another way: by monitoring and approving Bitcoin transactions. They approve or deny a transaction, with an eye out for fraudulent deals.
And if the deal is approved, they get a piece of the action for their effort. Adding more Bitcoin miners will mean a more secure network for the world.
It also means faster transactions, with more Bitcoin miners hard at work to push these transactions through the world’s digital economy.
As we just mentioned, more Bitcoin miners mean the currency is faster and safer. But that also means it’s a whole lot harder to mine. Hence the need for a USB Bitcoin Miner.
Like gold or diamonds, there is a limited amount of it out there. So, the more you find, the less is left, and the more the value will rise as you get to the end of your undiscovered supply. Make sense? So let’s look at it this way:
Can you imagine?
The plight and methods of the Bitcoin miner have changed over the years. The faster demand to mine, and mine, and mine has driven the need for faster and more specialized equipment.
We will touch on that a bit later. Now, the successful Bitcoin miner no longer works alone on their laptop. They work in teams, or what’s called “Bitcoin pools.”
It’s exactly what it sounds like. A team of skilled and like-minded Bitcoin miners getting together to pool brains, tools, and resources.
And each member of the team will get a percentage of the Bitcoins that pool has worked so hard to mine, based on the relative amount of work he or she has done.
To succeed in this business, you’re going to need a combination of the right hardware and software.
In the beginning, the miners simply used their computer’s central processing unit (CPU) to do the work. Why wouldn’t they? It was all they had and all anyone had ever used.
That was until a few years later when a few savvy miners saw the inherent value in using a video game graphic card. Graphics cards were able to process a miner’s work 50 to 100 times faster and consumed much less power per unit of work.
Graphics cards were able to process a miner’s work 50 to 100 times faster and consumed much less power per unit of work. Fast forward to the winter of 2011.
Fast forward to the winter of 2011. The next big thing in Bitcoin mining was the USB Bitcoin Miner and field-programmable gate array (FPGA) processors that could now hook into your computer via the USB port.
These were faster than anything we had seen so far and opened the doors to concentrated mining farms. The USB Bitcoin Miner changed everything.
Now hit skip to the next chapter, titled “Application-specific integrated circuit (ASIC) miners.” To call these a game-changer is a bit of an understatement.
They were ungodly fast compared to everything else out there and consumed far less power.
This is the standard where everyone is at now. ASIC miners are the most commonly used tool and some popular models include:
ASIC miners are the most commonly used tool and some popular models include: Antminer S5, Antminer U3, ASICMiner BE Tube, ASICMiner BE Prisma, Avalon 2, Avalon 3, BTC Garden AM-V1 616 GH/s, VMC PLATINUM 6 MODULE.
Again, only about 28% of the world’s Bitcoins remain unmined. So the competition is getting more heated among miners. That means technology is getting faster and much more expensive, as the bar and demand keep going up, and up, and up.
The first thing you will need (duh) is a place to keep your currency, which is called a Bitcoin wallet. There are a number of them out on the market for you to choose from, like:
These tools can help you generate a Bitcoin address, which is what you will need to work in a Bitcoin miner pool. The next thing you will need is your Bitcoin mining software:
There are also some really good free Bitcoin mining applications out there, such as:
You don’t want to do this alone. Trust us. The days of the solo miner are long gone. Now, if you really want to make money, you have to join a reliable and stable pool. Some of your options out there include:
First of all, you’re going to want to see what language your given pool works in. For example, F2Pool and BW Pool’s user interface is in Chinese, so it’s not much good to people who only speak English.
The next thing you’ll want to think about is how is the money shared? Now there are lots of different methods and philosophies out there for how to distribute the spoils fairly in a Bitcoin miner pool. They include:
As we’ve said the value of bitcoin is only going to increase as the supply grows more scarce and the world adds more and more bitcoin miners to the network.
In fact, there is speculation that the value of Bitcoin could jump even higher, thanks to US President Donald Trump.
“We could see bitcoin easily triple over the next year going from the current level to $2,100,” said chief economist at Saxo Bank, Steen Jakobsen.
We’ve already seen the Bitcoin be worth $400.00 US at the start of 2016, and jumped to $600.00 to start 2017.
Other experts agree and Benoit Tessier of Reuters wrote that “the price of bitcoin will continue to rise as more devaluations are expected from the Chinese government.”
“The slower appreciation of the US dollar against the Chinese yuan in comparison to bitcoin against the greenback shows that Saxo Bank’s $2,000 forecast is not unrealistic.”
So now would definitely be the time to get on board, if you’re even considering becoming a Bitcoin miner. This is like getting on the ground floor… of money.
Imagine you were the guy we mentioned earlier who turned 27 Bitcoins into $900,000. Of course, you can’t just buy it and forget about it like he did. You have to work for it these days.
And if you’re looking at joining the faction of smart and hardworking people who are (quite literally) building the economy of the future, we can help.
Click here to contact us and ask us anything you like about buying a USB Bitcoin Miner.
It really depends on your goal and purpose. So you should ask yourself if buying this miner answers the question of need and want.
If you are aiming for profit and money, then don't buy one. You can't find anywhere in the world that is a profitable USB miners. But it doesn't mean that for those right person it doesn't make excellent gifts also.
Are you looking for a stick miner, which is similar to a flash drive, or maybe a larger one that will just connect to a USB and have its own power supply?
By looking at the stores online, you can see different options that also varies with a variety of price and versatility. If you want to gift someone that ages like a teenager and interested with the technology, then what you are looking for is ASICMiner Block Erupter.
21 Inc. Bitcoin Computer have price costs as much as a low-end tablet computer. Their differences isn't just in their relative mining power but also in what they can do.
The ASICMiner will just be utilizing your computer software running in order to mine bitcoin, on the other hand, 21 Inc. Bitcoin Computer is standalone and it can mine of its own and does a number of other things.
Market these days have couple of nice and well-priced USB stick miners. GekkoScience Compac is one of the option which produced independently and unfortunately in a very small print run.
The original price range might be differ up to $25 per unit by the time you read this. It means that options in the market are really great. They’re able to produce at least 8 GH/s (gigahashes per second), and up to 11 GH/s, which is incredible for a USB stick.
You can calculate what that will produce in terms of Bitcoin using this Bitcoin Mining Calculator. At current, it produces about $0.50 per month. Not exactly a lot–but as I said at the beginning, these are for hobby purposes, not profit.
Another good option is Avalon 3 Nano, if the above options aren't available. You can just have it for like over $25 and it was released in early 2015.
It will generate a consistent 3 GH/s, and is at a better price range for most purposes. However, the Avalon 3 Nano is a little harder to set-up, configure, and use.
If you just want to buy a device just to educate someone that has interest about Bitcoin, then you may decide you don't care about the hashing power of the device. For that option, you can have the ASICMiner Block Erupter. The price of these devices are available in less than $20 straight from Amazon as well as many online distributors that come with perfect, simple instructions and have lots of tech support available.
There are options also like Antminer R1 that will mine Bitcoin for you in the AntPool Solo Pool, which means it is attempting to win the proverbial Bitcoin lottery. You don't have this much luck to succeed, but it’s also just a fairly normal wireless router, and it’s priced competitively in that field.
Moreover, it’s just a kind of neat idea: a router that mines Bitcoin is just one possible device that can do that. What’s next, microwaves? Who knows.
There are a lot of choices and options you can find in buying USB Bitcoin Miner out there. But at the end of the day, it is you to decide what you need and what you want in order to succeed on your goals.