Bitcoin the most accessible currency with market cap of $66 Billion and with Volume(24h) $1B is the most popular cryptocurrency on the planet but still harder to mine and is very low profitable, things that make it harder to mine is the difficulty level and the block size, but still China is amongst the top mining country. Use of bitcoin to pay is becoming very common and in many countries like Japan, it’s already been legalised.
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Why Mining Bitcoin Not Profitable Anymore?
As mentioned mining depends upon the difficulty level and the block size of the bitcoin. Well, the main key of all is the hardware, the normal gpu’s and average household computer unit doesn’t have that much power to mine this currency with the amount of electricity consumption is large.
The most popular S9, S7 miners from Antminer is amongst the best miners for bitcoin mining, but this currency is still very less profitable. Well, it is less profitable in small scale but also a good profit on the large scale. An average mining farm in China has more than 1000-10,000 mining units, which turn out to be a good profitable source. Bitcoin is still profitable for those who have very less price for the electricity unit.
Mining Ethereum Still Profitable Now?
Mining ethereum from past 4 month, I could say that ethereum was one of the most profitable currency when I started in the month of June. Getting around 6 ETH/month from 500Mh/s was pretty good, but eventually with the increase of the miners and the DAG pool size, it not very profitable, currently I am getting 3ETH/month for 500Mh/s which I half of what i was getting 4 months earlier.
I am still mining a bit of ethereum per month because I believe in this currency will hit the sky and will give all my investments.
The Revolutionary Bitcoin Gold Mining
Bitcoin gold has been successfully forked from the bitcoin and somewhat making it space in the crypto world, the speciality about the coin is the mineable nature against GPUs, just like other coins ether and monero etc, making this cryptocurrency a profitable in the long term. Since the fork, we can see the price surging upto 400$ within a week, which is a fact that people accessing their bitcoin gold and sending money and trading, the reason behind the pump.
Since the ethereum and the other altcoin including bitcoin are getting harder to mine every day making the miners to move there workers to the bitcoin gold now. Since its the forked sister of the bitcoin having somewhat same algorithm or the name itself “bitcoin” make it popular amongst the coins. Not only this bitcoin gold having this all the way advance algorithm with small size better efficiency and fast transaction with low fees make it very a good to be considered a try to mine and hold the coin.
Mining with monero could be a good choice, since monero is currently at good stage in cryptomarket, since closing price of Monero touched 144$ in the last week of august, which was around 50$ in the month of July. This shows the potential of the coin and could be a profitable in future if you start with mining.
Litcoin is a peer to peer currency which enables instant payment with near zero cost payment to anyone in world, which make this currency supper exciting to mine.
Working on mining the litecoin could be achieve with the Antminers named L3 & L3+ which gives amazing hashrates with less electricity consumption, which makes litecoin a good profitable mining cryptocurrency.
Some of More Cryptocurrencies Which Are Good For Mining
- Ethereum Classic
- Sia Coin
Some of Non-Profitable Cryptocurrencies
Still Confused With Which Cryptocurrency To Start With Mining?
I was also very much confused with what cryptocurrency should I start mining with. Well there is a solution for it, By using Smart Mining.
Smart mining will automatically switch and mine the coin for you which are currently very profitable in cryptomarket