Bitcoin is still the most profitable coin to mine with an ASIC, but not GPU . Bitcoin GPU mining is not profitable currently even with a mining pool. But you can mine with pools that allow you to contribute the hash rate to mine other crypto and get rewarded in Bitcoin.
Read moreIs Cryptocurrency mining still profitable?
As time goes on, mining Bitcoin becomes more difficult, as more miners compete for the next block reward. Today, mining Bitcoin as an individual is rarely profitable unless someone has access to extra low-cost electricity .
Read moreIs mining crypto illegal in US?
There are few, if any, jurisdictions in the U.S. where possession of cryptocurrency is illegal . Plattsburgh, New York, however, is likely the only city in the U.S. to impose a ban (temporary) on cryptocurrency mining. Also, the U.S. Marine Corps banned crypto mining apps from all government-issued mobile devices.
Read moreCan I mine my own cryptocurrency?
Despite the latest hardware and software, an individual would not be able to mine Bitcoin . Large mining farms backed by major mining companies are not competitive for small miners. A Bitcoin mining pool provides a solution. The group can use the combined computing power of individual miners to compete collectively.
Read moreIs coin mining real?
However, it’s not profitable for most people as mining is a highly specialized industry. Most Bitcoin mining is done in large warehouses where there is cheap electricity. To be real: Most people should NOT mine bitcoins today .
Read moreWhy are some cryptocurrencies not mineable?
a) A lots of non mineable coins are heavily premined . They also have inferior initial coin distribution which makes a coin centralized. b) Non-mineable cryptocurrencies have generally much bigger security issues to solve because they are much more centralized in every level comparing them with the mineable coins.
Read moreCan all crypto be mined?
The supply of bitcoin is limited to a final cap of 21 million. This is determined by bitcoin’s source code which was programmed by its creator(s), Satoshi Nakamoto, and cannot be changed. Once all bitcoin is mined, the amount of coins in circulation will remain fixed at that level permanently.
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