Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Mining Bitcoin with CPU, why is it a bad idea?, Forex-News, Forex-News
Ethereum Classic

Mining Bitcoin with CPU, why is it a bad idea?

, Mining Bitcoin with CPU, why is it a bad idea?, Forex-News, Forex-News

, Mining Bitcoin with CPU, why is it a bad idea?, Forex-News, Forex-News

Mining Bitcoin is a business that has many parallels with gold mining. So much so that the specialization process of mining tools has been complicated in such a way that the equipment that at one time fulfilled the purpose, now does not .

This is the case of all equipment prior to the Application Specific Integrated Circuit (ASIC), which are now counterproductive. Even within the category of ASICs, there are models that are already widely disposable, since their electricity consumption requires more money than they generate.

And if many specialized mining machines are already obsolete, little can be expected from other primitive forms of mining. Some of them, like the GPU, represent a waste of time and resources to mine Bitcoin. It should not be forgotten that even they serve to mine other digital currencies.

What happens if bitcoin is mined from a CPU?

As already said, mining Bitcoin is not impossible from a CPU. The problem is that the amount of fractions generated is so low that any other economic activity such as selling patches or posters can be dozens of times more profitable.

Apart from that, it takes up a large part of the PC’s memory. That is, the computer would be unable to receive another use because it is busy mining an amount of Bitcoin that could be exchanged for a couple of money per month. What is this about?

The decreasing trend in miner rewards for each block processed is the main enemy of CPU mining. Every four years, the Halving occurs. It is an event scheduled by the network, which cuts the rewards for mining by 50%.

At the same time, the continued increase in network difficulty as Bitcoin’s hashrate increases does its part. Both factors, both Difficulty and Halving, drive out older miners, making them obsolete. In the midst of these dynamics, CPUs have long since been discontinued.

What is the mining power of the best PC?

CPUs have little opportunity when it comes to mining Bitcoin. In fact, in some cryptocurrencies that are mined with GPUs (graphics cards), the CPUs are insufficient. For this reason, practically nobody uses their personal computers for this task.

If we connect the best CPU on the market, two things will happen. First, the amount of Bitcoin equivalent in money, perhaps increases a little, for one thing. On the other hand, the PC will be unusable for other tasks such as graphic design or video games, to give two examples.

At the same time, it should be noted that the price of the best PCs is extremely high, so it is not the best idea to invest in a 1,500 USD computer to mine a handful of satoshis per month. In that case, it would be more advisable to buy mining equipment or GPU cards from AMD or NVIDIA to mine.

As highlighted above, although mining Bitcoin from a CPU is currently out of focus, there are other cryptocurrencies that can be mined. In any case, going back to the parallels with Gold, it is like going to a mine to dig with a spoon to remove the metal.

Better than a PC, but not profitable either

To get a clearer idea of ​​the futility of connecting a CPU to mine Bitcoin, a clear example should be given. These are the Antminer S1 machines from the manufacturer Bitmain. They have a hash power of 180 GH / s. That is, not even 1 TH / s.

It should be noted that the S9 have an average of 14 TH / s and were close to becoming obsolete after the Halving in May. If we take into account the scale that Terahash is superior to Gigahash and that the latter is more efficient than Megahash, it should not be forgotten that a CPU mine with Megahash.

This means that a PC would take about 2 million years, or probably longer, to compute a block for the network. In short, if you have a good CPU and you want to mine Bitcoin, it is recommended that you go to the website of a store and buy an ASIC.

If, even so, you want to continue in the purpose of obtaining a handful of satoshis from your PC, you can go to alternatives such as the Brave browser. With it, you can earn something every month in fractions of Bitcoin.

Botnets can do it

If you speak in terms of illegality, the question changes radically. At this stage, malware appears, which can mine any cryptocurrency from CPUs and even cell phones.

Under this criminal modality, hackers create botnets, which are targeted at the victims’ PCs. Once installed, they steal the computing power and start mining Bitcoin to the hackers’ wallets.

Needless to say, in this case, the criminals lose nothing and make good profits at the expense of their victims. You could say that your PC is not mining for you, but together with thousands of other people, you are mining for a group of criminals.

Data to take into consideration

  • Mining Bitcoin from a PC is theoretically possible. However, the amount is so insignificant that it represents no benefit.
  • Even devices more advanced than CPUs, like GPU cards and even some ASICs like the Antminer S1 and others, are unproductive for mining Bitcoin.
  • Not even the best of personal computers is capable of generating a decent amount of money in Bitcoin.
  • On the computing scale, CPUs mine in megahashs, while ASICs, for the most part, mine in terahashes.
  • A PC mining Bitcoin could suffer damage due to overheating or wear of its components.

, Mining Bitcoin with CPU, why is it a bad idea?, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Mining Bitcoin with CPU, why is it a bad idea?, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More