Ever heard of the term bitcoin miner? Before discussing how bitcoin miners work, we will explain a little about what bitcoin is. Bitcoin is a digital currency that was launched in January 2009, precisely after the housing market crash. Bitcoin follows the ideas set out in the whitepaper by Satoshi Nakamoto. Satoshi Nakamoto is a very mysterious pseudonym.
The identity that created this technology is still a mystery to this day. Bitcoin offers lower transaction fees as compared to other online payment mechanisms working according to traditional systems operated by decentralized authorities.
Bitcoin is also not issued or endorsed by any bank or government of any country. Even so, bitcoin continues to improve graphically. It even became very popular and triggered the launch of various other virtual and digital currencies which are collectively called Altcoins.
So, how to get bitcoin. One way that is commonly done is known as bitcoin mining. Simply put, bitcoin is processed not by individuals or companies, but by thousands of computers around the world that are connected to the internet.
The discussion about bitcoin leads to the question “how to become a Bitcoin miner”? Everyone can be a bitcoin miner. The first step to starting bitcoin mining is to get mining hardware. Choosing the right hardware is very important in achieving mini success.
How hard is it to Mine Bitcoin?
The question of how difficult it is to mine bitcoins can be answered by the following explanation: the more bitcoin miners join the network, the level of mining difficulty will increase. This also means that the more sophisticated hardware you use, the more likely it is to win. However, the costs involved are of course more expensive.
ASIC or Application Specific Integrated Circuit is special hardware for bitcoin mining, which is currently the best bitcoin miner and trusted bitcoin mining tool. If you want to win the race use ASIC to mine bitcoin. ASIC was created specifically to be able to mine large amounts of bitcoins.
Mining on PC processors ended back in 2010. They were replaced by graphics processing units of video cards. Soon GPUs were pushed out of the bitcoin mining hardware market by specialized processors called ASIC miners. Some of the best ASIC miners are Antminer s9, BFGMiner, and Bitmain antminer L.
A typical ASIC miner includes:
· Aluminum frame.
· Coolers for incoming and outgoing air streams.
· Microcircuits on which the chips are located.
· Aluminum heat sink to reduce the temperature of the microcircuits.
· Ethernet connector.
· Power supply connector
The main advantages of ASICs in comparison with farms for mining on video cards are:
· Higher hash rate.
· Less power consumption.
· Less time spent on setting up equipment.
All of the above features give buyers of specialized equipment the main advantage - a high income. Continuous growth in complexity is forcing manufacturers to release new equipment more frequently and hence miners get the opportunity to choose from a wide range.
Choosing equipment for mining bitcoin
Bitcoin mining is only relevant when using ASICs. Mining using video cards is impractical due to the insufficient computing power of the GPU. When choosing the latest Bitcoin mining equipment, it is best to give preference to the newest versions on the market.