Even if you join a pool, your share will likely amount to a few cents per day at most. This sounds like a lot, but it's unlikely that you'd do much more than break even in 2 years on such a small plan. Unless you are prepared to invest in specialised hardware, at the bare minimum something like Butterfly Labs’ 10 GH/s Bitcoin Miner, your returns are going to be miniscule. For example, as of 2019, Genesis offers a 2-year Bitcoin mining contract for $50, which gets you 1 TH/s (1 Tera hash per second, or 1,000,000,000,000 hashes per second). Prices vary anywhere from under $100 for smaller contracts to several thousand dollars for larger contracts with more mining power – expressed as the hash rate.You usually need at least 2 years to break even. While shorter contracts may carry a lower price tag, it's unlikely that you'll make any money in a shorter period of time. Contracts typically last from 1 to 3 years, although some last longer.While your contract is active, you get all the Bitcoin that is mined using that amount of mining power, minus fees paid to the cloud-mining service for maintenance of the mining hardware. With cloud-mining, you essentially lease mining power from a miner farm for a period of time. Buyers select the crypto-currency that they want to mine, a pool on which they want to mine, set the price that they are willing to pay for it, and place the order. No cloud-mining service can guarantee you a particular rate of return, or guarantee that you'll break even or start turning a profit in a short amount of time. Be careful of a cloud-mining service that makes guarantees or claims that sound too good to be true.Websites such as CryptoCompare can also help you analyze company reputations. You can search the name of the service and see what people are saying online about it. Make sure the company is legitimate and has a good reputation. There have been numerous cloud-mining scams. However, the most popular services with the best reputations also are frequently sold out of contracts. This is mainly due to its cross-platform, ease of performance, and support for multiple devices and mining bitcoin pools.
#MINE BITCOIN ON MAC WITHOUT POOL SOFTWARE#
Each service charges different fees and has different contract packages available.
#MINE BITCOIN ON MAC WITHOUT POOL INSTALL#
This means you can set up and start mining in seconds, without worrying about complex install processes traditionally associated with mac miners. There are a number of different cloud-mining service providers available, some of which are better established than others. The First Native Mac Miner Built as a friendly GUI for the relatively complex array of command line Bitcoin mining software for Mac, MacMiner is the first 100 native Bitcoin miner for Mac. Decide which cloud-mining service provider to use.
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