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  • BTC: € 21,072.7 -2.65%
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Tolarcek Crypto WordPress theme - Tolarcek Crypto WordPress theme
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Blog Ethereum

Everything you need to know about mining

September 20, 2017 7 Comments
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Mining cryptocoins is an arms race that rewards early adopters. You might have heard of Bitcoin, the first decentralized cryptocurrency that was released in early 2009. Similar digital currencies have crept into the worldwide market since then, including a spin-off from Bitcoin called Bitcoin Cash. You can get in on the cryptocurrency rush if you take the time to learn the basics properly.

Hover Shortcodes

You can use great shortcodes for comparison between: 

Bitcoins and Dollars
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. Or 
Litecoins and Dollars
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. All can be used in posts and pages in numerous ways. You can use many other cryptocurrencies and normal currencies for
comparison
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. You absolutely need a strong appetite for reading and constant learning, as there are ongoing technology changes and new techniques for optimizing coin mining results.

Which Alt-Coins Should Be Mined?

If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs, not to mention the sheer mathematical difficulty of the process, just doesn’t make it profitable for consumer-level hardware. Now, Bitcoin mining is reserved for large-scale operations only.

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As a second income, no, cryptocoin mining is not a reliable way to make substantial money for most. The profit from mining cryptocoins only becomes significant when someone is willing to invest $3000-$5000 in up-front, at which time you could potentially earn $50 per day or more.

How Cryptocoin Mining Works

Let’s focus on mining ‘scrypt’ coins, namely Litecoins, Dogecoins, or Feathercoins. The whole focus of mining is to accomplish three things:

  • Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called ‘verifying transactions’.
  • Get paid a small reward for your accounting services by receiving fractions of coins every couple of days.
  • Keep your personal costs down, including electricity and hardware.

As a hobby venture, yes, cryptocoin mining can generate a small income of perhaps a dollar or two per day. In particular, the digital currencies mentioned above are very accessible for regular people to mine, and a person can recoup $1000 in hardware costs in about 18-24 months.

Continue reading
Reading time: 3 min
Written by: Tolarcek
Bitcoin Blog

How block-chain works

September 16, 2017 No Comments
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Best known as the immutable database that runs underneath cryptocurrencies like Bitcoin and Ethereum, blockchain is poised to play a critical role in every industry imaginable as businesses seek ways to cash in on the distributed ledger technology’s promise of enabling a “trustless” consensus to validate transactions.

Earnings in the past year

Smart miners need to keep electricity costs to under $0.11 per kilowatt-hour; mining with 4 GPU video cards can net you around $8.00 to $10.00 per day (depending upon the cryptocurrency you choose), or around $250-$300 per month.

Chart shows our earnings in the past year.

Financial transactions are typically guaranteed by a trusted third party (such as PayPal) and blockchain can be used to automate that process, reducing overall costs by cutting out the middleman with autonomous smart contracts acting as trusted intermediaries between parties on the network.

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Reading time: 3 min
Written by: Tolarcek
Bitcoin Blog

Big traps of investing in cryptocurrency

September 14, 2017 6 Comments
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There’s a lot of hype with Cryptos. Why? Because most do not know what they’re investing in and would rather listen to the crowd. What happens then? Prices crash once you’ve bought into it. Taking a loan or using all your life savings can be hugely risky, especially if you do not have the prerequisite knowledge on the tech and the coins. Be informed. Ask the right people. Arm yourself with knowledge before jumping on the hype-wagon. This would significantly reduce your risk and most importantly, position you to invest in the long-term fundamentals of the technology.

There are plenty of opportunities to make lots of money in the crypto market, and you should be patient and wise to acquire the right knowledge before investing. Don’t be the person that invests based on the current hype. Do your research first. If it’s too complex, look for answers. The cryptocurrency community is filled with awesome individuals that can simplify things and help you along the way.

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Reading time: 3 min
Written by: Tolarcek
Blog

How secure is Bitcoin?

September 13, 2017 No Comments
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It’s probably safe to assume that Bitcoin is here to stay. Yes, it’s a bit volatile and yes, other cryptocurrencies are a lot easier to mine and a lot cheaper to buy, but the ever-growing number of ways to spend bitcoins – plus the fact that it’s still around after being proclaimed dead numerous times over the past few years – is a testimony of the resilience of the world’s most popular, and polarizing, cryptocurrency.

Thing is though, this doesn’t mean that you should blindly jump into Bitcoin. Aside from the high price of entry, a string of events over the past year have shown that while the Bitcoin protocol itself may be secure, the wallets and services used to store and exchange Bitcoin may not.

Continue reading
Reading time: 5 min
Written by: Tolarcek
Page 1 of 3123»

Bitcoin Exchange rates

1 BTC = 22739.6500 USD
1 BTC = 21072.7200 EUR
1 BTC = 238.380000 LTC
1 BTC = 14.0600000 ETH
1 BTC = 18857.2600 GBP
1 BTC = 32676.6900 AUD
1 BTC = 30449.7500 CAD

Earnings chart

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Popular Posts

Everything you need to know about mining

Everything you need to know about mining

September 20, 2017
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Big traps of investing in cryptocurrency

September 14, 2017
Blockchain and technology

Blockchain and technology

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Ethereum rates

1 ETH = 1616.67000 USD
1 ETH = 1497.62000 EUR
1 ETH = 16.9400000 LTC
1 ETH = 0.07110000 BTC
1 ETH = 1340.75000 GBP
1 ETH = 2322.39000 AUD
1 ETH = 2164.20000 CAD

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Everything you need to know about mining

Everything you need to know about mining

September 20, 2017
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Tolarcek is a blog about cryptocurrency, especially about Bitcoin. All you need to know about blockchain tech, crypto-trading, mining, and more.

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Popular Posts

Everything you need to know about mining

Everything you need to know about mining

September 20, 2017
Big traps of investing in cryptocurrency

Big traps of investing in cryptocurrency

September 14, 2017
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