Bitcoins are generated in the so-called mining process. Many earn by the cryptocurrency producing, but as far as is it topical today? In order to understand this question, we first have to determine the principle of the production new coins.

So, the idea of generation of bitcoins is that the equipment placed in various cities around the globe, calculates a complex mathematical tasks, which lead to the producing of BTC. The generation of the electronic currency is not managed by any center, and security is ensured by the distribution.

All of the actions on the bitcoin network are recorded in the log, to which everyone has access. The chain of crypto transfers is passed to the miners, which must find a unique hash from all possible combinations. It would have to go to new transactions and to secret key for that a “worker” will receive a reward in the amount of 25 BTC. For the same award at the same time different machines around the world are competing, trying to guess the hash first. As soon as someone succeeds, the whole process starts over with a new block.

Miners pick a hash of the last block, the sum of the hashes of transfers over the last ten minutes and a random number. They replace this random number to find the right. Of course, they do it not manually but using a program.


Originally a powerful graphics card a gaming PC is good enough for the getting new coins. However, the difficulty of the mining increases with each new open block. Accordingly, it needs more power. Special chips that connect to the computer and directly generate the cryptocurrency began to appear, they are so called “ASICs”.

Such equipment varies by capacity, price and performance. Now, however, the complexity of the blocks has reached the level when even super-modern ASICs can not give a good performance.

In addition, the mining of cryptocurrencies is quite expensive in relation of the electricity and risks. You never know what will happen with the bitcoin rate – it can well collapse one day under the influence of negative news, and your expensive purchased equipment will be absolutely no cost-effective.

Also a chip card can break down or burn out. We will not to mention the fact that electricity bills will come astronomical in the case of “professionally” mining of the BTC.

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That is why the experts are convinced that today it is absolutely not profitable to mine bitcoins at home. Of course, you can buy the modern ASIC, which will be quite productive, but it is unlikely that all expended resources will be recouped by the earned BTC.

So the cloud mining is gaining a popularity. Its essence consists in the following – you do not buy your device, but only rent some of the capacity of existing equipment, which is owned by a large company. In that case you don’t need to pay the electricity bills, nor to consider the cooling system, nor worry about possible failures.

In fact, the cloud mining is a passive income interest on the investment. You invest the money in the rental of the capacity, in the real working hardware, and you get some part of the remuneration corresponding to the amount of the money invested by you.

Therefore, answering the question about the relevance of the mining, it is safe to say that the cryptocurrency producing will continue to be topical until will be generated the new blocks. However, the principle of earning by this, of course, has undergone changes.