Bitcoin Forum

Would it help for Bitcoin network if i run 1 Bitcoin Miner?
I am thinking about supporting bitcoin network.
I know that we have businesses who runs thousands of miners, to earn money, but i don't want to earn, i want just to support Bitcoin network and i wonder do my contribution would help, or we just need leave all the work for big miners?

Last question, would 1 confirmation time - 20 minutes would be the same if every  Bitcoin user would run atleast 1 miner in home?

That's the problem, the mining difficulty increases. Sometimes if it happens the entire network too might gets collapsed. Mining is possible with specific equipments and even with that its hard to mine similar to the farms. At some point if block size is increased, sure small scale mining won't be effective.

1 miner can mine very little bitcoins, it is not worth for electricity, you should make a huge mining factory to make more profit. Mining at home is unrealistic to be rich.

Again, i already have said that i don't want to earn. I want to support Bitcoin network and i wonder do my 1 miner would help or i should leave everything to big miners.

It would probably help in the sense that it goes a (very) small way to stop the centralisation of mining... but your 1 miner would be like a grain of sand on the beach :(

It wouldn't really do much to help decrease confirmation times or anything like that...

You might get super lucky and hit a block and get the payout... but the capital outlay and ongoing costs of running a miner would probably just cost you a lot of money, for very little in the way of either personal or global reward...

Mining in a pool may increase it's chances of finding a block... but you're probably just helping to make others money and not really "improving" the network a great deal...

Running a miner, no matter how small scale it is, will help in the decentralization of the network. However, it will also cause an increase in electricity spent with no significant earning. Maybe you can join pool mining but I suggest joining to smaller pools so that the big fish will not get too big.

The difficulty adjusts itself every 2016 blocks so the average block time will be kept at an average of 10 minutes.

No, it is not good at all. The more miners we have, the more difficulty blocks can be. And mining will be not effective and profitable anymore. Therefore, I doubt that this situation can likely to happen. Nowadays, miners mine different kind of cryptos and there is only a small percentage of them love to mine Bitcoin

Its not as easy as it sounds because mining with a computer (GPU) is no longer profitable, unless special tailored hardaware like an ASIC Miner is used if you ever want to be rewarded.
Connecting more computers to the network just makes mining more difficult to solve
.

Because the decentralized system of bitcoin was making the bitcoin network is different with the private blockchain and it will be useful. there is no the node with high trustability.

The confirmation depends on the bitcoin network (the blocks to validating the transaction)

Just do it. Get your own miner and either:

1) solo mine
2) point it to a non-Chinese pool of your choice

Whatever you do, if you want to support the distributed philosophy of Bitcoin, don't join the moronic sheep and point it to a high-hash rate pool because you want frequent payments.

yes USA you can definitely run 1 miner at home already had mentioned that you dont want o make profit but you wan to help the bitcoin network as it is suffering problems like longer confirmation time and reverse transaction so addition of 1 minner wouldn't be helpful but it wont be worst either. so definitely you can contribute for the best of the network.

No one will ever be able to give a clear answer to the question "whether it is Profitable to mine bitcoins?". The second reason is market quotes. Thusly, when calculating the profitability of the mining, reducing profitability for the year will help you to determine the approximate increase in complexity.

If you mine bitcoins in your home the answer will depend on what kind of mining equipment you will use. But if you just use gpu and mining then your effort will most likely not that helpful to the whole network. If you want to help the network set-up a powerful miner at your home and encourage everyone in your neighborhood to do the same. In turning your community into a mining farm you will truly help the whole bitcoin community.

If the price reaches more 2,000$ Maybe this fact will happen and the network will run faster .
I expect I can buy some miners running at home in next months .

Although your intentions are noble and you do not want to do it for monetary benefits but more miners means less profit for each miner which eventually will make a lots of miners to quit the mining.
We do not need more miners,we need better mining equipments.
In other words we need quality not quantity.

It would help the bitcoin network, but not that much. With or without you, the whole thing would still operate the same way it was. One mining rig is nothing compared to the million/billion dollar worth of miners people already have. Why don't you help the bitcoin community instead?

You can always promote bitcoins to your local people and since not much people knows about it, you'd pretty much make a good percentage of your local people into bitcoin users. Especially nowadays when people are starting to get bored of doing Facebook and earn nothing. Bitcoins is staying online, doing some work, and you'll get paid accordingly.

If you like to support bitcoin you rather run bitcoin node than a miner.  ;)
There are enough miners to keep bitcoin network/transactions running.

The present price is not bad to run 1 miner at home. But the mining equipment is too costly. If we want a good and top model mining machine, we need to pay thousands of dollars.  I think it will not work out and it will work out only where the electricity price less. In my country, i can try, but I need big investment to get good quality mining equipment.

we return to the problem of confirmation, I think not only that, if we want to push a little every shopkeeper or sites not to use regulations had to wait 1 confirmation, I think it will be well, if someone buys something at their stores or make a deposit on their sites

Yep the better support for bitcoin is to run a little full node in youre home instead of a miner.
Some little peace of hardware like a raspberry py or similiar is good enough.
But it also depends on the electricity costs in your country!

I guess yes, because even it is a little contribution to Bitcoin Network, still, a Contribution is a Contribution. If we are all going to run even a single miner at home, then, there would be a large of miners that are going to mine bitcoin, if we are all going to participate on this campaign to support the Bitcoin Network, though, above all this, there are consequences and different problems that might get this campaign not to happen at all.

First, a single miner right now is very expensive that not everyone can afford, specially those bitcoin users that have just started on doing bitcoin. Second, bitcoin mining consumes large amount of Electricity, causing you Electric bill increased than your last one. Last, in order to mine bitcoin through your Hardware on its full performance, you need an stable fast internet, and if you don't have any of this one, then, I'm afraid to say that you can't mine bitcoin at all.

Isn't solo bitcoin mining basically a donation of your hash (rather minor amount, but hash power nonetheless) to the bitcoin network?
At this point your chances of solving a block are really close to infinity - so it is safe to assume it will never happen.

Op, if you want to help bitcoin network run a node. It will cost you less, can be done on your standard PC.
It is not the same as mining but still helps the network by validating transactions and blocks.

Bitcoin's strength is in it's big decentralized network of nodes. It cannot be easily taken down, if it was distributed to 1000's of nodes. So you would be

contributing to the security in the sense that you would be making it more decentralized. As you said, you are not planning on making money, but just

supporting the network. Go for it  ;)

It can help a little bitcoin not to be centralized.