How do you make money mining bitcoin

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That said, if you are but some people choose how with the Antminer S9 unit.

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Bitcoin mining is still profitable if you have a capable system, join a mining pool, and can pay off your fixed expenses in a reasonable amount of time. best.iconcompany.org � learn � how-to-mine-bitcoin-a-beginners-guide-to-mi. The reward amount is cut in half roughly every four years, or every , blocks. As of November , Bitcoin traded at around $36,, making bitcoins worth $,

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It is possible to mine on various hardware and machines, but to truly be profitable and competitive, you'll need to join a mining pool. Switching to less energy-intensive consensus mechanisms like proof-of-stake PoS , which Ethereum has transitioned to, is another strategy; however, PoS comes with its own set of drawbacks and inefficiencies, such as incentivizing hoarding instead of using coins and a risk of centralization of consensus control. The block is assigned some information, and all of the data in the block is put through a cryptographic algorithm called "hashing". They are doing the work of verifying the legitimacy of Bitcoin transactions and being rewarded for it. This does not mean that transactions will cease to be verified or that there won't be rewards.