Why I Can’t Mine For Cryptocurrency Myself?

‘Mining’ for cryptocurrency is actually the process of verifying cryptocurrency transactions all over its network, which users are rewarded for. This is the central mechanic behind the crypto economy, and ‘mining’ is used to keep transactions secure, verifiable and reliable.

Now many folks wish they were around back in the early days of Bitcoin when it was possible to mine thousands of coins on your crappy old home computer. Today it is impossible to mine Bitcoins or other major cryptocurrencies on a normal computer, no matter how good it is.

Today to mine for Bitcoins for example, you need a so-called ASIC – a powerful machine specially designed and built just for mining Bitcoin. And it is REALLY costly! Like a single standard ASIC miner machine will cost you $2500-$3500. A more powerful one will cost $5000 upwards! Without one it is pointless even thinking to try on your own. And even after forking out thousands of dollars on one of those, it is notoriously difficult to even break even because of high electricity costs and increasing difficulty of the mining calculations. The standard time till break-even is about 8-10 months, which is considered quite good.

But since the cryptocurrency eco-system changes so fast, no one can predict what will happen in 6-8 months time. Maybe the miner systems you paid thousands $$ for will become obsolete then and will be worth close to zero.

So the fast answer is – NO, you can’t mine for cryptocurrency on your home PC.

For this – your only solution is Computta.

in About Computta Tags: mining



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