JavaLove
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Streamity Decentralized cryptocurrency exchange
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March 22, 2017, 03:59:51 AM |
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To begin, you need to make sure that you read up on Mining first and how it works. Calculate all electricity costs and future profit margins before investing in an Antminer, etc. Example: when will you break even (roughly). It should be asked so you have a forecast of expenditures vs profits.
From your description of mining, I can tell you have it confused. It's very complicated so, again, I suggest you read and watch videos on it (many topics on the forum here that go into plenty of details). But basically, to make it short, your wallet has nothing to do with mining. You can send and receive transactions on it, but that's all. In order to mine on your computer you must have the correct software and be able to connect to a pool where your computer will begin. What it does is it just confirms other users' transactions that they sent. However, mining on a computer is virtually useless nowadays. The difficulty is far too high along with all the other users who are participating in the network and the amount of Bitcoin in circulation. Honestly, a really good computer would probably earn about ten cents worth of Bitcoin in a week, when their electricity bill will tally well over $50 by the end of the month. Waste of time and money.
If you wish to make a little more and eventually be able to break even, try researching the Antminers. They require investment, but will actually be able to earn you some Bitcoin. Eventually, after a little bit, you'll be able to break even as well.
Just make sure you read all the forums and reviews and everything you can find on Mining first before investments. It will help you gain a lot of knowledge and will help you decide whether mining is for you. IMHO mining is not for me so I earn all my money trading, but perhaps you've got a good setup. Do the research.
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