Generate bitcoins alone. Bitcoin, generating coins in a common pool
From the article you will learn about the features of Bitcoin generators, the types of such programs and how to download and install them on your computer.
Bitcoins are like gold - the planet's reserves are limited and increasingly difficult to mine. The limited number of BTC is determined by the program code: the creators deliberately took this step to prevent inflation. As a result, we have what we have: the price of Bitcoin has exceeded $10,000 , and for mining (extraction) they create special processors costing about 100,000 rubles every.
How to earn bitcoins without investments? Are there alternative mining options? What is a Bitcoin generator and how does it work? These and other pressing questions will be answered by me, Denis Kuderin, a staff expert on cryptocurrencies at HeatherBeaver magazine.
You will also learn how to avoid falling into the networks of cryptocurrency scammers, whether there are honest Bitcoin generators, and where to track the best rate of digital money when you need to convert it into real money.
1. Bitcoin generators – a scam or a source of stable income
According to a survey conducted at the beginning of 2018, 30% of Russians do not even know what Bitcoin is. About half of those who know that this is the most popular cryptocurrency in the world are sure that BTC is prohibited in the Russian Federation. And a very small number of respondents know what “mining” bitcoins is.
Taking advantage of the low level of “cryptocurrency literacy” of the population, scammers of all stripes are trying to make money by “selling,” “mining,” and “exchanging” bitcoins. There are hundreds of ways online earn bitcoins without investment and without effort.
Some initiatives and ideas that were initially good and truly profitable gradually turned into fraudulent projects. These are no longer ways to mine bitcoins without investment, but ways to siphon money from the wallets of gullible users.
One such idea is a “bitcoin generator”. Under this streamlined term, those who like to make money at someone else’s expense disguise sites that work exclusively for depositing money, but not for withdrawing money.
On the other hand, a generator can be called any working program for mining cryptocurrency - special software for mining (traditional and cloud), equipment for solo mining of cryptocurrency, stock exchange bots.
For clarity, we list all the extraction methodsBTC:
- classic mining on video cards;
- mining in pools on ASIC processors;
- cloud mining;
- cryptocurrency faucets;
- bots (generators) for bitcoin mining;
- stock trading.
None of the methods can be called 100% reliable, especially if you act through third parties.
Most of the projects on the network offering free Satoshi without any investment are pure scams, scams and deception.
Even relatively honest online generators (faucets and cloud mining sites) do not guarantee stable earnings from bitcoin mining.
Judge for yourself. Modern BTC mining requires super-powerful processors (I already wrote about their cost above). Miners unite in pools and build industrial farms based on power plants.
It is unrealistic for ordinary users to compete with them. At the same time, the reward for calculating a new block periodically falls. A few years ago it was 50 BTC, now it’s 12.5. There is no other way to create new crypto money.
And then they make you an offer: do nothing, just provide the address of your wallet or download a program that will “pump” money 24/7 without your participation. Even if you actually download such a bot, the amount of Satoshi you will be able to get will be tiny.
If for some reason it turns out to be decent, a new problem will arise: the service will offer you to pay a withdrawal commission by transferring the money to such and such an account. Half of the users will not have any doubts about the good intentions of the “administration”. Needless to say, you will no longer see any commission or cryptocurrency.
2. What types of Bitcoin generators are there?
Let’s dot the t’s: consider all types of BTC earnings that at least nominally belong to the “generators” of cryptocurrency.
This includes both reliable sources of digital coins and dubious options.
1) Farms for the “production” of cryptocurrency
Mining is the extraction of bitcoins using computers, or rather processors. Processors solve mathematical problems, confirming transactions made by users of the Bitcoin network. The creation of new blocks is, in essence, the emission of new coins, since cue balls are nothing more than entries in registers.
Mining– supporting the operation of the blockchain and creating new blocks. Without the participation of miners, the Bitcoin system will simply stop, because this is the basis of its viability.
To become a breadwinner, desire alone is not enough. We need production capacity. If a few years ago a regular computer was enough to generate new blocks, now special equipment is needed. Even modern video cards, which were used to mine 1-2 years ago, are not enough.
No, no one will forbid you to calculate blocks on video cards, but whether you will get a reward this way is still unknown. It is likely that it will not be possible to wait for the block to be calculated even after a year of constant work.
Large farms have dozens of processors assembled into a single network. Energy consumption is colossal, as is the cost of the farm itself. Either industrial companies or wealthy people can afford this.
Information that a novice “farmer” needs to know:
- professional mining equipment is expensive;
- the farm pays for itself in at least 12-15 months;
- technology quickly becomes obsolete;
- the process is accompanied by high electricity consumption;
- The complexity and duration of computing on the network is growing, and the reward is falling.
Experts say that it is no longer profitable to engage in private bitcoin mining. Fortunately, there are other types of cryptocurrencies besides BTK. Some, for example, Bitcoin Cash or Ethereum, do not require such financial costs and are mined on regular video cards.
To learn how, read a separate article.
2) Bitcoin pools
Either millionaires or altruists mine BTC alone. The rest gather in pools - communities that monitor the even distribution of rewards and regulate the production of cryptocurrency.
Mining crypto coins as part of a pool is much easier and more reliable. It's like a miners' union supporting its members. But it is important to choose the right community. There are large and promising pools, and there are small pools, without any guarantee of reward.
A special type is cloud mining pools (OM). This option is for those who do not have the funds to buy a farm or do not want to tinker with equipment. Invest money in renting equipment, download software and receive rewards online without building a farm.
But there is a catch: a significant part of sites posing as OM services turn out to be either scammers or intermediaries. But if you manage to find a truly honest resource, be prepared to pay a hefty price.
Advantages of cloud mining:
- don't buy equipment;
- don't pay for electricity;
- don’t look for software – the program is provided by the community;
- you hardly have to worry about setting up the equipment - professionals will do it for you;
- predict your profit yourself - it depends on the capacity you rent.
But I repeat, there are only a few real OM sites on the network.
But there are plenty of investment firms operating on the principle of pyramids. Sooner or later such projects are closed. " Mining sucked" - a phrase known to all cloud miners.
3) Bitcoin generator bots
Bitcoin bots generate rewards in Satoshi for everyone, which, upon reaching a certain threshold, users withdraw to their wallets. The program is downloaded to your computer for free, and its script performs the actions necessary to receive rewards on faucet sites and other similar resources.
But this is a theory. The practice is somewhat different. The power of your computer that the organizers of such sites talk about is actually of no use to anyone. But you need money, which scammers want to get from you in one way or another during the interaction.
Criminals play on people's gullibility and sometimes greed. Users themselves do not notice how they find themselves in a trap. It’s good if the losses are insignificant – within 1000 rubles. Sometimes attackers manage to scam lovers of freebies out of larger sums.
Generator comparison table:
3. How Bitcoin generators work
There is no point in explaining in detail the mechanism of operation of generators, keeping in mind bots. Still, in reality everything works differently. Namely, it doesn’t work at all.
The creators provide clever descriptions on the landing pages.
Let me give you a real example:
“The operating algorithm of our website is unique. Two Russian programmers took part in its creation, thanks to which public testing was carried out.
Our generator, by reducing the number of operations performed during the blockchain calculation process, has achieved incredible results..."
Such generators really charge money. But only on the screen. Then they ask you to pay a percentage for withdrawing funds. What happens next is a matter of technique. You transfer money, scammers receive it.
If we are talking about honest generators - world-famous OM sites or harmless gaming resources, then above in the previous sections I have already briefly explained the principle of their operation.
4. How to get cryptocurrency using generators - step-by-step guide
To warn readers against losing money, I will not recommend specific generators, much less encourage them to register on any sites.
But the instructions will be useful for those who want to join mining communities. There are foreign services that truly represent communities of industrial crypto coin miners.
Step 1. Select a Bitcoin generator
Resource selection is a key point in the process. Online reviews alone will not be enough - it is likely that some of them will include professionally made custom materials. It is necessary to analyze the site itself.
Pay attention to:
- decoration and design– the more convenient the navigation and the clearer the interface, the better;
- contact details and legal address– if there is, this is a plus;
- availability of support service– don’t be afraid to ask questions: if they answer immediately and to the point, put a tick in the “for” column;
- methods of depositing and withdrawing funds– there should be a lot of them;
- age– if a resource has been operating for several years, this is a good sign.
One-day sites look too bright and usually do not contain any additional materials other than 1-2 pages.
Step 2. Download and install on your computer
You should install programs on your computer only if you are confident in the honesty of the source.
There are platforms that offer online jobs. It's safer, although hardly more profitable.
Step 3. Connect the wallet and launch the program
All that remains is to start the generator - in our case, the OM program.
Honest sites withdraw the money they earn directly to your wallet, or immediately convert it into the currency you need. This is not always profitable due to the commission. I recommend withdrawing in cue ball and then changing through exchangers if necessary.
How to find out the best rate? Use the monitoring of exchange offices - a resource. This useful and convenient service not only searches for the most profitable exchange rate online, but also provides information about the reliability of exchangers.
If you don't have a Bitcoin wallet yet, watch this video:
5. Is it possible to generate bitcoins without investments - reviews from real miners
Forums, special websites and blogs are full of messages from disappointed and deceived users.
Here are some typical reviews.
Maksim:
“You don’t respect yourself, get involved with these generators. The income is quite cheap, and only due to the affiliate program that I set up in my VKontakte community. Otherwise it’s a waste of time.”
Ivan:
“This is pure scam - taps, generators and other crap. I spent three months of my life on such sites. Yes, sometimes they give bonuses and prizes, and even drop something into your account. But it’s so little that it’s even funny to say how much.”
Victor Petrovich:
“Money doesn’t come out of thin air. This is another scam that I fell for. An invitation came from someone to launch Big Generator. The process supposedly takes 5-10 minutes. Download the program to your computer and watch how the satoshis increase in your account.
I downloaded and launched. By the end of the day, a good amount had actually accumulated - something around 0.009888 BTC. At the current exchange rate, this amounted to several thousand rubles - 5-6 thousand. Then they offered me to initiate a withdrawal transaction, they even sent me a receipt by email.
The commission amount was not much - 350 rubles. Pay the commission and get the money. That's exactly what I did. Only after the money was gone did doubts creep in. And the receipt was suspicious, and the site itself seemed too cheerful. In general, I did not receive any compensation."
6. Conclusion
Conclusion: only those who have a lot of free time to study and test cloud mining sites, bitcoin generators, faucets and other services can earn cryptos without investments. The vast majority of sites called “generators” are fraudulent resources.
Question for readers
In your opinion, is Bitcoin legalized in Russia?
We wish you honest partners and stable earnings! Feel free to comment, write reviews, and share your personal experience. See you again!
There are so many rumors, conjectures and gossip surrounding the Bitcoin cryptocurrency that it is extremely difficult for an uninitiated person to understand all aspects of the existence of one single coin, let alone the industry as a whole.
We list the methods separately:
Each individual example does not protect the user 100%.
Even the most reliable services are companies in the same hands and are subject to political influences, and the capacities themselves can be destroyed by disasters or natural disasters.
In view of this, members of the crypto community came to the conclusion quite a long time ago that it is necessary to combine several sources of obtaining crypto coins, in particular Bitcoin, in order to protect themselves as much as possible.
On a separate line
Modern BTC mining, despite the critical price decline of the last year, is an industrial process.
Microprocessor-based equipment is not built into farms, but into hangars, the energy supply of which is provided by its own power plants.
For advanced countries this is green energy, for others it is classical energy.
Imagine the labor that goes into creating and maintaining such facilities, not to mention the money spent.
And now, someone offers to get a certain, adequate amount of coins without any cost or effort?
A fair conclusion arises that the concept of “Bitcoin generator” is a fraudulent scheme designed to rob gullible simpletons who believed in such a sweet and attractive freebie.
However, here the question arises - if no one demands anything to generate BTC, what is the fraud, because all reasonable people understand that any demands for payment for something in advance are a sure sign of fraud.
Let's look at one of the popular examples of the essence of the activities of BTC generator projects.
Bitcoin generator – bitcoin-generator.org
Until recently, the service was actively promoted, so much so that it reached the TOP 5 positions on Google for the main request.
Apparently in the past he “generated” quite a few coins.
The interface is not pretentious, exclusively in English, but the project itself is positioned as aimed at a Russian-speaking audience based on SEO data and what is returned for queries in Russian in the TOP, and in English, very far from the first pages.
The cryptocurrency generation buttons require special attention.
As you can see, no registration is required, just indicate the wallet and select the amount of BTC that will be generated.
All surveys consist of at least 30 questions and, judging by the waiting block at the bottom of the photo, completing the survey will become confirmation for the generator to transfer the specified amount of BTC to the address.
The site itself of quizzes and surveys positions itself as an exclusively entertainment portal, which, however, is crammed with advertising.
Choosing more BTC to generate means passing more tests successfully.
You must answer at least 80% of the questions correctly. For the test to be considered passed. Otherwise you will have to go through everything again.
Let's try to understand the algorithm
Apparently, the owner of the survey site and the Bitcoin generator is the same person or a second hired person whose task is to increase the popularity of the survey project among the audience by keeping their attention on the project.
Judging by the analytics of the project with a traffic of 27,000 unique visitors per day, the BTC generator works excellently, but only not in favor of visitors.
The survey service does not have a link mass or even indirect information about a well-thought-out promotion system through contextual advertising and/or social networks.
Consequently, the main stream of first visitors is generated by bitcoin-generator.org.
Second example of a BTC generator
This project is one of the very first fraudulent algorithms, designed for those who have no idea about the principles of operation and BTC.
On the main page there is still a rate of $576 for 1 BTC, which indicates the categorical reluctance of the owner to have anything to do with the scam of clients.
On the other hand, the long renewal of domain and hosting services speaks in favor of the fact that the project is still working.
The project itself is not active; in fact, it is a landing page. The description of the principle of the project’s operation looks ridiculous by today’s standards.
For those who are represented as active users below on the site, this should be enough, but a person with the slightest understanding of the issue will immediately understand that the project is fraudulent and generates money for the creators.
The only button that works on the site introduces the client to a supposed test group that will test it for free before it is sold to everyone for cosmic money.
After clicking on the link, a fake analysis of the PC occurs, which, OH MIRACLE, turns out to be quite suitable for BTC mining, taking into account the fact that the new algorithm will ensure the operation of a low-performance processor at the supercomputer level.
Please note that each new “client” is registered under number 93 and the same password.
After going to your personal account, click the start generation button.
So far, everything is going more than interestingly, taking into account who the target audience of such projects is.
By the way, during the “generation” process on this site, the PC load increased slightly, but this suggests the presence in the script, which works while a specific tab with the generator is open.
That is why the line stating that the tab/browser cannot be closed is highlighted in red.
After the incomprehensible work of the miracle service, the exciting moment of receiving payment comes.
Despite the fact that BTC is generated, the accrual occurs in rubles, and even at the rate of two years ago.
It is proposed to withdraw everything “honestly earned” to one of the payment systems that accept RUB.
And here lies the risk, since leaving payment details, especially for those who have little experience in Internet work and do not understand the methods of deception and hacking wallets.
Moreover, it is proposed to indicate your full name, by which it is enough to simply calculate postal addresses and use them to penetrate and steal funds available there.
But this method is not the main one when scamming gullible clients for free.
Please note that there are no options other than ordering a payment. This suggests that the project is not designed for repeated use even due to the client’s lack of experience.
So, the data has been entered, and the personal account page of the selected payment system is constantly updated in the hope of seeing the coveted replenishment of an impressive amount. But alas, this does not happen.
The service is ready for this again and offers us to “find payment”.
And this is the main essence of this entire project - in order for the system to skip an allegedly found payment, you need to pay a small commission in favor of the service.
It is understood that a client who senses money that was nevertheless sent to him, but for some reason did not arrive, will not particularly think about paying only 384 rubles, but receiving 10 times more without doing anything.
Please note that the entire resource is aimed at a single scenario, without options, secondary transitions, etc.
Its main task is to smoothly lead the visitor to the moment of transferring funds in favor of the scammers.
Miracle miners BTC
When the above-described service began to gain “popularity” and show off on the stands of “scammers” on most forums and blogs dedicated to crypto-themes, enterprising network users quickly realized that the topic of freebies was still alive and offered “unique” miners for download, increasing the value hundreds of times. .
Disguised as a unique miner downloaded regular virus software for coin mining(not always BTC, since it is useless to mine it using normal power), which was installed by the client.
The work was carried out from a day to several months in favor of the scammers. At the same time, the client was shown quite up-to-date information on the increased mining speed and accumulated coins in the fake pool.
To prevent it from jumping off ahead of time, the minimum withdrawal amount was set at 50 – 100 BTC, which were mined even at an accelerated pace for several weeks or months.
When ordering a withdrawal, the client was asked to download the updated software (), after which the account was blocked, as was the availability of support for all contacts.
In this case, the client, of course, did not lose anything except the equipment resource, but also acquired only a negative attitude towards the crypto industry as a whole.
Drawing conclusions
At the very beginning of the material, we considered many options for obtaining Bitcoin.
Some of them require minimal costs, but also bring very little profit.
Others, with fairly impressive productivity, require significant investments and constant monitoring of work and the market situation.
From all that has been said, the only Bitcoin generators are:
- A crane disguised as a generator;
- An openly fraudulent scheme designed to deceive the client;
- Algorithms that mine cryptocurrency are hidden only in favor of scammers or with the participation of the user himself.
Cryptocurrency, as a class of money, appeared quite recently. In 2009, Japanese programmer Satoshi Nakamoto and a group of like-minded people proposed a way to generate unique elements based on the principle of blockchain and cryptography. Blockchain implies a chain of transactions in which each link contains information about all previous blocks and the entire chain. These elements were called bitcoins (digital coins). The crypto code, open to everyone, showed everyone a way to mine bitcoins by executing a mathematical algorithm using a computer and a powerful video card.
What is Bitcoin mining
To understand how to create Bitcoin, imagine a certain set of symbols (cryptocurrency code), for which you need to choose the same length, but completely different from it. The process of creating and mining bitcoins is called mining. Each cue ball is a chain of blocks containing information about each previously released block. For the convenience of using cryptocurrencies, wallets have been created that store bitcoin identifiers. Bitcoin mining requires the installation of modern computer equipment and special programs.
Is Bitcoin mining profitable in 2019?
The maximum Bitcoin issuance limit is 21 million coins. By mid-2017, just over 13 million had been produced. According to calculations, the limit will be reached by 2040. The complexity of calculations is growing, and along with this, mining costs are rising. The profitability of bitcoin mining is determined by the amount of investment that the miner is willing to bear. The profitability of production is influenced by a large number of factors, from the cost of equipment to the cost of energy costs. It is worth taking into account the growing demand for the use of cryptocurrencies.
Changes in mining conditions and reward levels
The creators of Bitcoin laid down a method for limiting emission by gradually reducing the reward for creating new blocks. The step for this change is the number of bitcoins taken to be 210,000 coins. After producing this number of bitcoins, the reward for new transactions is reduced by half. When mining the first 210,000 coins, the reward was 50 BTC per 1 block. Since 2013, there has been a transition to the next stage, in which a new block is created for 25 bitcoins. Now the miner will receive a reward of 12.5 bitcoins for each block.
Cryptocurrency rates for today July 25, 2017
Name | Capitalization | Change over 12 hours and 7 days |
|
$ 42,540,484,835 | 5.89% ($162) 12h |
||
$ 19,409,871,923 | 7.25% ($16.2) 12h |
||
$ 2,213,599,789 | 5.54% ($2.49) 12h |
||
$ 1,446,791,985 | 6.74% ($14.0) 12h |
||
$ 6,172,364,421 | 7.26% 12 hours |
||
$ 127,572,361 | 16.65% 12 hours |
||
BTS | $ 353,606,673 | 18.49% ($0.03) 12h |
How to mine bitcoins
Bitcoin mining and block generation is a complex operation. Building and verifying the originality of a chain of blocks takes a lot of time and requires high-speed computer technology. To solve this problem, it is possible to use the power of a simple home computer, create a farm for the mining process, or connect to cloud mining services. You can find out how to mine bitcoins in cloud services on Internet sites. Different methods of mining digital currencies use special programs.
Solo mining
Any miner, having built his own farm, has the opportunity to mine bitcoins alone. The essence of CPU mining is to find a new hash, or key, for a new block. The miner who solves this problem receives a reward of 12.5 BTC. But to make a profit from one alone, it is necessary to perform a huge number of comparison operations; large computing power of the equipment is required. If the probability of finding this hash is low, the efforts expended in mining Bitcoin may not bring profit.
Creating a mining farm
To create a cryptocurrency generation farm, standard computer equipment is used, including a powerful power supply, a motherboard, and modules connected to it. Based on the types of these modules, farms are divided into three types:
- Using GPUs, or in other words, video cards, to create a farm is called GPU mining. AMD video cards are optimal in terms of price and performance. In the early stages of mining, these cards were widely used, but as the complexity of mining increased, problems arose with their power consumption and cooling. The prospects for their use are low. The advantage is the opportunity to sell the equipment.
- The use of programmable logic arrays for this purpose led to the creation of the next stage - FPGA mining. Their performance is comparable to GPUs, but they consume less power and do not require cooling. These farms are widely used because they provide the opportunity to generate different cryptocurrencies.
- An alternative way to farm bitcoins is with special ASIC processors for calculating a Bitcoin block. Mining performance on ASIC is 20-30 times higher than FPGA farms, but the cost is very high. This has led to the need to create collectives of miners, or pools, to combine the financial capabilities of a large number of miners for the purpose of creating or renting farms on ASIC devices.
Cloud mining
Cryptocurrency mining is possible using cloud services. Cloud mining is the rental of mining capacity from real owners of large farms through an intermediary. A home computer or laptop is suitable for this purpose. After registering for a service in the cloud, carefully study how to generate bitcoins. After the contribution, the client receives his share of the power, which is measured in hashes per second. After the pool receives income, each of them receives his share, depending on his contribution to the result. The client withdraws income through an exchanger or cryptocurrency exchange.
How to earn bitcoins using a computer
Anyone has the opportunity to understand the question of how to mine Bitcoins correctly. For anyone who is going to make money on investments, it is important to maintain a positive balance between the funds spent, effort, electricity, time and the result obtained. At the initial stage, Bitcoin mining using home PCs was profitable. Nowadays, the complexity of trying out the entire number of options makes it possible to make money on the user’s computer only with the help of cloud services.
Mining on a video card
Despite all the difficulties, individual mining of cryptocurrencies and Bitcoin using farms brings income. The profitability of mining using a video card for the first half of 2017 was due to a clear trend of increasing the cost of Bitcoin coins, which pulled up the prices of most forks. Bitcoin mining on a video card has led to a shortage of relatively inexpensive air- and water-cooled cards. The most popular are AMD Nvidia cards.
Using special processors
Video cards are more suitable for generating cryptocoins, but high-performance processors are also suitable. The best processor for mining in terms of price and performance is the Intel Core i7 58020K Hexa-Core at 3.3 GHz with a speed of 202 hashes/second. For mining on a processor, the most important thing is the optimal ratio of its operating frequency and price. The operating frequency of each processor will determine the power of your entire farm, and its price will affect the efficiency and profitability of the entire process.
How to start mining
To start earning cryptocurrencies using special equipment, you need to create a farm. The most popular miners, Avalon6 and AntMiner S7, cost about $600 and can bring a net profit of 0.1 to 0.2 BTC. To get started you need:
- buy a ready-made module, or build a farm yourself;
- download and install a special program – miner;
- register in the pool of miners, indicating your capacity;
- get part of the task and get to work.
Pool selection
For optimal operation of BTC mining, you need a rational combination of its requirements and conditions with the power of your equipment. Power depends on the performance of the video card. The pool needs the power resources of your hardware. Consider the proportionality of the income distribution of the pool, which will pay your income corresponding to the contribution of your equipment to the overall process. Internet pool sites contain tables of income versus performance. The largest pool on the Bitcoin network is Antpool, which is owned by Bitmain.
Installing and launching a program for mining Bitcoins
One of the main programs for mining cryptocurrencies is CGMiner. It does not have its own shell. It works from the command line, so it is recommended for experienced programmers. GUIminer has a good graphical shell - when using it, the client works both in solo mode and when entering the pool address. During installation, it automatically determines the equipment parameters and saves the settings in a profile file. To work in the bitcoin system, you need to create a wallet address.
Creating a Bitcoin wallet
To store cryptocurrencies, appropriate wallets are used, which are downloadable applications, the choice of which depends on your computer system and the type of crypto. You need to download the wallet to your computer or smartphone and come up with a login to log in. The password in many wallets is generated automatically in the form of a crypto key. After activating the wallet, do not forget to save the main ID, which is the wallet address, for settlement purposes. To sell bitcoin, use exchange offices or crypto exchanges with higher exchange rates.
Where to mine bitcoins
Cloud mining is a good starting platform for a new cryptocurrency businessman. Having invested a small starting capital, you have the opportunity to start mining bitcoins and study this issue. As with any money business, many scammers have appeared in the cloud service, hiding hype projects under the guise of a cloud service. Below is a rating of cloud mining services that have good network capacity and pay fees to their participants:
- HashFlare. Start of work – June 2015. Minimum input/output 1.2 USD/ 0.00085 BTC. In addition to Bitcoin, he mines several cryptocurrencies.
- Hashing24. Start of work – June 2015. Minimum entry/withdrawal 19.95 USD/ 0.001 BTC. The power is provided by the BitFury company. Deposits and withdrawals of funds are carried out using Visa/Mastercard bank cards.
- Genesis-Mining. Start of work - February 2014. Minimum input/output 30 USD/ 0.0001 BTC. For the purposes of cloud mining, the power for the SHA-256, X11, and Dagger-Hashimoto algorithms is rented. The advantage is that payments exceed costs. Entry and withdrawal are possible by bank cards and transfers.
- HashNest. Start of work – July 2014. Minimum input/output 0.001 BTC/ 0.001 BTC. Good statistics of ASIC S9 cards used by this service.
- Eobot. Start of work – June 2017. The minimum input/output is unlimited. Various cryptocurrencies are mined on this service; there is a faucet where you can get cryptocurrency for free.
How to calculate mining profitability
To determine the efficiency of cryptocurrency mining, use mining profitability calculators located on cloud mining sites. The input data into the calculator is the complexity indicator, cost of the block, cost of electricity, equipment power and others. The result of the calculations is the value of the profit from production for a certain period of time.
Cost of equipment for bitcoin mining
Cue ball mining equipment differs in its performance and price. The most significant influence on production efficiency is the electrical power consumption. Several miners, their cost, mining power, electricity consumption, approximate monthly income, payback period are presented in the table:
Miner name | Power, Gh/s | Consumption, kW/hour | Income, USD/month | Payback period, months |
|
Bitmain AntMiner S 9 | |||||
Spondoolies-Tech SP 500 |
Electricity and equipment cooling costs
As can be seen from the table above, energy costs affect production efficiency. The bulk of the electricity consumed goes to cooling the chips. The farm operates around the clock, so serious care must be taken about ventilation of the room, air conditioning and cooling of the microcircuits. In addition to traditional ventilation, water cooling is used to solve this problem, similar to cooling a car engine.
Growth in the number of miners
We are currently experiencing a boom in the number of miners. Cheap video cards for mining have disappeared from sales not only in the CIS countries, but also in Europe. The difficulties of bitcoin mining and the increasing hardware requirements for this are forcing many miners to switch to other cryptocurrencies. The only positive factor supporting interest in bitcoin mining is the stable increase in the price of bitcoin in the cryptocurrency market. When the price decreases or corrects, the number of people willing to mine Bitcoin decreases.
Bitcoin mining calculator
To calculate mining efficiency, thematic sites contain automatic mining calculators. They can be used by all people who mine any cryptocurrency. The initial data for the calculation are the difficulty coefficients of cryptocurrency mining, mining speed, characteristics of the miner, pool, and others. After entering all the required data, the result is an indicator of the income of the entire mining process.
Risks and difficulties of generating cryptocurrency
With the growing complexity of mining crypto coins, the main criterion for efficiency is the ability to invest a large sum of money to purchase expensive but fast-operating equipment. It becomes harder to make a profit from the process. The main risks and difficulties of mining, which must be taken into account by everyone involved in mining when drawing up a business plan, remain:
- reducing the price at which the generation of new blocks is rewarded;
- increase in the cost of equipment due to an increase in its productivity and growth in demand;
- the cost of electricity, limits on its use for specific premises;
- the likelihood of a fall in the price of Bitcoin, as often happened with financial bubbles.
Video
If you think that Bitcoins have already reached the peak of popularity and in the future they will begin to lose relevance, then you are deeply mistaken.
Surveys conducted in Russia at the beginning of 2018 showed that only 30% of the population had at least heard something about cryptocurrency. But it is developing, the audience of users is rapidly expanding.
Bitcoin generator, what is it and how to generate Bitcoin without investment? Naturally, beginners are afraid to invest money in cryptocurrency, so they are looking for ways to get it for free.
There aren't many options because collecting even 1 BTC coin is extremely difficult(rate is too high). But it’s possible to start without investment, and now we’ll tell you more about it.
What is a Bitcoin generator?
Beginners understand the expression Bitcoin generation differently. If we start from the essence, then this is the creation of new blocks in the chain, which is what miners do. They provide computing power to solve complex problems and receive rewards for it.
However, this direction now has several branches.
New Bitcoins can only be generated through mining. Today the complexity is high, with a regular computer there is not enough hashrate for normal profitability.
Of course, you can create a farm, buy expensive equipment and get good money, but this also requires serious start-up capital.
It is almost impossible to collect coins alone, so miners connect to pools. The option is interesting, but not profitable enough.
There is also cloud mining, with which the profitability will be slightly more than 100% per year. But some people collect BTC for free using faucets; this is generally a separate method.
All types of Bitcoin generators
A large company with data centers in Estonia offers 2 algorithms for generating Bitcoins. The cost is relatively low:
The SHA-256 algorithm produces BTC directly, while the Scrypt algorithm produces Litecoin, but it is automatically converted into Bitcoin.
Everything is much simpler here, after registering and paying the rent, all you have to do in your personal account is select a mining pool and watch your balance increase:
Plus, a calculation of expected profitability is available. The data changes constantly, because the profitability from each TH/s is floating. You don’t have to do anything yourself; you can turn off the computer.
Contracts are concluded for a year; according to reviews, the money is recouped, but with a small percentage.
Free Bitcoin Generators Online
In general, it is not correct to call faucets Bitcoin generators, because new blocks are not created through them. We decided to include this point in the article so that beginners can get some cryptocurrency today without any investment at all.
To use it, you need to register on CoinPot, and then indicate your Email on the main page:
The site is littered with all kinds of advertising, and this is how money is collected to distribute freebies. You can collect Satoshi no more than once every 5 minutes by simply entering the captcha. The bonus size gradually accumulates, but only in the first 5 minutes the gain speed is maximum:
To collect a lot of crypto coins in this way, you will have to devote a lot of time and go to many faucets.
Does this make sense? Professionals do not see it, and millions of beginners from all over the world continue to accumulate cryptocurrency in the hope of an increase in the rate. In this case, even a small number of coins will turn into a solid asset.
Bitcoin generator reviews
Among our regular readers there are already many people who have tried to collect Bitcoins and other cryptocurrencies. Everyone has different opinions, but most agree that generating BTC is no longer relevant. Here are the reviews we were able to find:
Maxim – has been working with cryptocurrencies for 3 years.
I use different Bitcoin generator programs, but in recent months they have refused to work. I am gradually updating the hardware; at the moment I have a farm of 3 video cards.
Due to the high complexity, it is barely possible to cover expenses. I really regret that when it was easy to get coins, I sold them, now I would become a millionaire.
Irina – it’s been six months since she entered the crypto market.
There is really a lot of information about mining on the Internet, but few people share their results. It would be nice to get coins out of thin air, I got excited about it myself.
The truth quickly came down to earth, because it is almost impossible. I invested money in cloud mining until even the deposit was returned.
Victor - makes money from cryptocurrency affiliate programs.
Once upon a time I also wanted to find bitcoin generator sites, then I was still a beginner. Now I understand that if everything were that simple, there would be only millionaires around.
The time for easy collection of cryptocurrency has passed, now it’s better to get involved in trading or, like me, make money from referrals. I opened a blog and a YouTube channel, I continue to develop in an area that interests me and I make a good profit from it.
Creating a Bitcoin generator without investment is simply not realistic. Rewards for new blocks no longer cover the costs of miners. Therefore, now even professionals are abandoning BTC and paying attention to lesser-known cryptocurrencies.
To buy, sell or exchange cryptocurrencies, you will definitely need a quality exchange. Choose Exmo, they have increased security and always have a lot of offers.
I got the idea for this post when I was offered to download a Bitcoin generator in Russian. In addition to the link, they attached screenshots, a really good income, but it was another scam.
Free cheese is only in the mousetrap; it is better to consider other options for working with cryptocurrency than trying to generate new coins from scratch.
I recommend visiting the following pages:
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It continues to develop, the difficulty of generating a block increases every time. Trading on the exchanges is already taking place for very significant amounts. But generating alone becomes almost impossible.
Today we will talk about generating coins collectively - in a common pool. In this case, the prize for generating a block is divided among all participants in the pool approximately in proportion to the contribution to the generation of the block.
Due to the large total computing power of the pool, blocks are generated much more often than if you work alone, but the prize for each participant is smaller. On a long-term average, it turns out to be about the same amount (minus the percentage of the pool owner), but more evenly.
There are already articles on Habré about what Bitcoin is and how it works. But information about generation in the general pool is very scattered even in its native wiki. This article describes how pools work, available pools, client programs, and some results.
First some terminology
Block- a batch of bitcoin exchange transactions signed with the SHA-256 cryptographic hash function.The block signature does not contain any key, anyone can generate and verify it, but the block signature must be less than some “target” (if we consider the signature and the target as 256-bit integers), roughly speaking, it must contain a certain number of zeros at the beginning bit. Thus, it is difficult to generate a correct signature - you need to select the block parameters for a long time so that the block hash is less than the target. Block example.
Difficulty- the relative complexity of generating a block signature. Complexity = 1 corresponds to a target in which the first 32 bits are zeros. Accordingly, to generate a block signature you need on average “2^32 * complexity” of attempts (block hashes). The difficulty is recalculated by all Bitcoin clients approximately once every 2 weeks, so that the block generation rate is approximately 6 blocks per hour. The current complexity is approximately 157416 (the first 49 bits of the hash must be zeros and then the 23 bits of the hash must be less than 6A93B3)
Mining– the process of selecting block signatures. It is the only source of increasing the “money supply” of bitcoins and at the same time serves to record all completed transactions.
Share- candidate block signature - a block and its hash containing the first 32 bits of zeros. The number of share pools is calculated by the contribution of each participant in the work of generating a block signature. With a complexity of one, each ball becomes a signature, with the current one - only every 157,416th on average.
Pool- a server engaged in distributed mining - using the computing power of the participants. The pool distributes the current block to the participants and waits for the ball to be received. As soon as one of the participants sends a share that turns out to be smaller than the current goal, the pool announces the generation of a block signature. The prize for generating a block (currently 50 BTC + voluntary taxes on transactions) is distributed among the participants, the owner of the pool takes a certain share. Distribution rules vary from pool to pool, which will be discussed below.
Stale share- a share that came from the participant too late, after the corresponding block had already been signed by someone. The client program searches for the block signature until it finds it or until it gets rejected. If the pool does not send a callback or the client program does not understand these calls, then some part of the share (as they say, 0.5% -1.5%) will be out of date. Support for “hang up” in pools is implemented through long polling.
Miner- client program for mining. To participate in the pool, you need a separate client program, because... a regular Bitcoin client does not support mining in a pool.
A miner is also an account for one participant’s client program on a pool. One participant can create several miners without additional registration on the pool in order to use several client programs (of different types and/or on different computers) and receive income from them in one wallet.
Accounting by points (score based system)- a system for evaluating the balls, depending on the time they were received by the pool. The cost of balls in points increases over time of work on one block, i.e. the very last balls will pay the most. This system is designed to counteract cheating - the strategy of disconnecting from the pool after working on a block for some time. If the balls are equal, then it turns out to be more profitable to switch off after the pool receives a total number of shares equal to 0.435 * complexity, and switch to single generation (or to PPS, see below). But this is considered cheating.
Now about the pools
1) deepbit.netThe largest of the pools. The total computing power is 854 Ghash/s (gigahashes per second). According to bitcoinwatch.com, this pool generates almost half of the block signatures (see chart), which is already starting to cause concern.
There are two models for receiving your share:
1) Proportional. In this case, the participant receives a share proportional to the number of shares found, and all shares are counted (except for the stale share), and not just for the successfully signed block. Owner's share - 3%.
2) Fixed per share (Pay per share, PPS). The participant receives 0.00028584821460503 BTC for each (non-stale) share, regardless of the share in signing the block, etc.
It is not difficult to calculate that this price of the shares is almost exactly equal to 50 BTC * 0.9 / Difficulty. Those. on the long-term average, the participant will receive 90% of his share of the work of generating the signature. The owner's share is thus 10%.
The model is set for each participant's miner account, so you can use both models at once if you have several CPUs/GPUs.
You can get your share immediately, without waiting for block confirmation. In addition, the share is not taken away even if the block is invalid (a block will be invalid if a longer chain of blocks is generated somewhere that does not include this one).
2) mining.bitcoin.cz(also known as slush's pool)
The second pool in terms of power. The total computing power is 312 Ghash/s. Now this pool generates about a sixth of the block signatures (although in April it had a third of the total capacity).
The pool owner's share is 2% (1 BTC for a 50 BTC prize). Only those participants who sent balls for a successfully signed block receive a share of the prize. Accordingly, if a block was not signed by this pool, all shares sent to this pool for this block are useless.
The share of the prize is calculated by points (score based system), the author of the scoring system is slush, the owner of the pool.
Payment of the share is possible only after confirmation of the block - after 120 blocks signed after it (which is about 20 hours).
3) btcmine.com
Power - 146 Ghash/s
Registration is open. Owner's share - 2%. Only those participants who sent shares for this block receive a share of the block.
The share of the prize is calculated by points. Payment of the share is possible only after the block is confirmed by 120 blocks.
4) bitcoinpool.com
Power - 34.3 Ghash/s
The owner's share is voluntary taxes only (no percentage of 50 BTC is taken). All participants who sent shares since the pool signed the previous block receive a share of the block.
The share of the prize is calculated in proportion to the number of balls. Payment of the share is possible only after the block is confirmed by 120 blocks.
5) Eligius
Power - 31.8 Ghash/s
A pool without the need for registration - just indicate your Bitcoin address and your share is transferred there, and immediately - right in the generated block (using Generated transaction).
Owner's share - voluntary taxes on transactions plus 0.00000001 BTC per second (about 0.0003%). The miner's share is proportional to the number of shares from the previous block created by the pool. If a block becomes invalid, the number of balls found is counted into the next block.
Interestingly, this pool was apparently the first to introduce additional rules for transactions that the pool includes in blocks - 0.00004096 BTC per 512 bytes of transaction.
6) sweatpool.net
Power - 1.8 Ghash/s
A fresh addition to the list of pools, it is positioned as a competitor to the PPS mode on deepbit.
The share for mining is fixed per share (Pay per share). The current value of the shares is 0.00029220039715181 BTC, i.e. the commission is 8%. In addition, the payment of the cost is promised immediately, without even waiting for the block to be generated.
(Pool capacities and rules are given at the time of writing)
Client programs (miners)
1) Ufasoft's SSE2 CPU miner - bitcoin-miner
Uses CPU, optimized for SSE. According to the author, one hash requires about 1000 processor cycles.
I get about 1100 clock cycles - on my Q9550 quad, the miner produces 12.5 Mhash/s if you give it all 4 cores (running it in 4 threads) and 9.5 Mhash/s if in 3 cores.
The processor heats up to 60 degrees when 4 cores are loaded, which bothered me a little (at idle the temperature is about 40), but it’s quite possible to work. When loading 3 cores, it heats up to 53 and you can even watch HD movies. Most of the time I generated balls this way.
For comparison, the official Bitcoin client (bitcoin-0.3.20.2) mines at a speed of 4.9 Mash/s if you give it all 4 Q9550 cores.
2) m0mchil's python miner - poclbm
Uses OpenCL. It didn’t want to work on my CPU, but on the 8600GT video card it produces 6.8 Mhash/s. Alas, the miner loads the GPU core by 95%-99% and the video heats up to 75 degrees. And it’s extremely difficult to do anything on a computer while the miner is running - windows are even dragged jerkily. Playing with the -f parameter did not yield anything.
Perhaps owners of more powerful video cards will be able to get better results and less lag. Judging by the wiki, you can get 802 Mhash/s on the ATI Radeon HD 5970.
There are also miners, but I haven’t tried them:
3) jgarzik's CPU miner
4) Diablo's java GPU/CPU miner
My results
The first time I mined was in April (when the difficulty was 82347) - about 26 hours. I mined 198 shares, 1 of which turned out to be outdated. It was calculated about 930 Ghash.The first 17 shares were generated on the btcmine pool (in 1 hour 40 minutes), I did not receive anything for this, because... disconnected long before the end of block generation.
The remaining balls are on deepbit, 28 in PPS mode and 153 in proportional mode. I earned as much as 0.13430786 BTC from this.
If I generated everything in PPS, I would only earn 0.09891044 BTC, and if everything was in proportional, then 0.14083968 BTC.
The rate of ball generation (1 ball for 4.7 Ghash) coincides well with the theoretical one (1 ball for 4.295 Ghash).
If we take the then rates on the mtgox (1.04 USD/BTC) and MICEX (28.19 RUB/USD) exchanges, then my income was 3 rubles 81 kopecks.
Now let’s calculate the speed of receiving income from mining
1) Each Mhash/s mining speed gives about 20 shares per day,
2) Taking into account the current block prize, pool tax, and April difficulty, the income on Mhash/s will be 0.0119 BTC
3) In terms of exchange rates, it will be 35 kopecks per day
After this, you need to estimate how much energy is required for generation (very much depends on the equipment and its operating mode during the day) and how much this energy will cost.
I got it like this:
4) 3.3 rubles per day of income from mining (9.5 Mhash/s),
5) Processor consumption - 71.25 watts (we only count the addition for using 3 cores, I mine only when the computer is already running - 3/4 of the 95 watt processor), i.e. 1.17 kWh per day,
6) Which cost 4.55 rubles (tariff 2.66 rubles/kWh).
That is, there was no point in generating coins for me, because... energy costs are higher. Which is where I stopped then.
The second time I started mining was on May 15th, when the price of BTC on the mtgox exchange almost reached 9 US dollars.
Taking into account the current difficulty, income has dropped to 0.059 BTC per day, but now it costs 12.25 rubles (mtgox 7.4 USD/BTC, MICEX 28.1 RUR/USD). Those. mining gives 7.70 rubles per day or 32 kopecks per hour.
conclusions
In the long term, there is no difference in which mode it is more profitable to participate in mining, proportional or PPS, by points or by shares, only for a signed block or for all blocks. Everything is determined by the “tax” of the pool owner (and the cheating of pool participants).In the short term, it can be a shame to mine for several hours and get nothing. Actually, you need that same uniformity that makes it worth mining in a pool, and not alone.
My favorite mode on deepbit.net right now is proportional mode.
P.S. The total computing power spent on generation is now about 2023 GHash/s, which is approximately equal to 25.7 TeraFLOP/s, i.e. is already 4.5 times greater than the total capacity of the BOINC project.