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How to buy equipment and start mining cryptocurrency

12/03/2018
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  • mining_cryptocurrency
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After the bitcoin price broke through the $ 4,000 level, talk about mining cryptocurrency seems somewhat out-of-time. However, some experts believe that now is the best time to start mining cryptocurrency and close study of this issue. After all, the recession has affected not only the quotations, the equipment has also become significantly cheaper.

The value of the matter in dispute

It should be immediately understood that it will not be possible to engage in the extraction of cryptocurrency without the initial investment. In the current situation, they will be quite risky, but this is not entirely true. According to experts, the "bear" market does not last very long. A number of new laws and regulations in the world will attract large investors here, which will inevitably lead to an increase in quotations.

Although on the sites you can see sales of ASICs, first of all, it concerns outdated equipment. And almost did not affect the farm. Why? The answer to this question lies in the limitations of the ASICs. They have little flexibility in choosing a coin. The device, which is designed for the extraction of bitcoins, will not be able to calculate Ethereum or Ripple.

The second point is the very rapid development of technology. Now sales of ASICs on 7 nm process chips have begun. Which bypass their colleagues in performance and power consumption and make them simply unprofitable. As a result, massive sales of outdated equipment begin. However, now is a good time to start this business.

Where to start mining

The cost of the simplest farm now starts at $ 1000, and ASIC of similar performance will cost about 30% cheaper. But for those who are only taking the first steps in this business and are looking for how to start mining cryptocurrency, the first option would be preferable. The advantages of ASICs are:

  • less energy consumption due to optimization;
  • higher hash rate;
  • ease of installation, part of the device comes with the operating system.

But farms on video cards have their merits. First of all, it is flexibility, they can work with an algorithm. Some cryptocurrencies are a real battle with professional miners in the face of large companies. Under attack can be a specific model of ASIC. Then after the next hardfork, it will turn into a pile of unnecessary iron.

Moreover. Some companies, even in these conditions, are preparing to start a new cryptocurrency. Often such projects are the most profitable. If you reconfigure the farm for their production, you can quickly recoup all investments.

The technical side of the issue

An important point is the maintenance of equipment. In Russian cities, it is impossible to find a service centre from Black Arrow or Bitmain Tech. It will also be impossible to repair it yourself - this requires not only knowledge but also spare parts. This means that the device will have to be sent back to the factory. Then wait until it is repaired and sent back. It takes more than one month for which no one compensates for the loss.

In the case of a farm, the problem is solved by replacing one damaged module. And even if it is a video card or motherboard, the costs will not exceed 10% of the cost of the entire kit.

Of course, you can hope for a miracle. On that miracle that before how to start cryptocurrency, the special equipment will be made. The fact that ASIC will not break and will reliably serve for many years. However, there is another equally important point. Now on YouTube, there are lots of videos about the last days of ASICs. Outdated models are sold at the price of scrap metal. With a farm, this will never happen. The residual price of video cards, RAM, processors and other components will make it possible to recover part of the costs in any event.

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