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Cloud Mining vs Home Mining. Choosing the best option

In 2018, the beginning miners are at a crossroads. On the one hand, they want to buy equipment, build a farm and customize everything by themselves. On the other hand, the increasing network complexity frightens them and incites to go in for cloud mining. Which option is better and what to start mining in 2018?

Cloud mining

Cloud mining is a rather new phenomenon in the blockchain industry. It appeared when short-term leasing of premises for mining became profitable. But, at the same time, the lessor is responsible for technical equipment, software equipment, access to electricity and the Internet. When the capacity of home-miners increased, they had to use third-party services. That’s how large clusters and mining equipment manufacturers appeared.

Cloud mining service provider has some advantages over ordinary users. They are:

So, cloud mining means using resources of a large company that is a manufacturer or owner of computing equipment. At the same time, such services  relieve the consumer from all problems connected to mining (except for market fluctuations, of course).

What is the difference between cloud mining and mining pools?

Pooling of resources increases the average mining capacity of each miner. And at the same time, all expenditures on maintenance, electricity, rent, repair and equipment replacement a equally shared between all the pool members.  That’s why such approach is less profitable than cloud mining, which, by the way, provides some guarantees for users. More details about it will be described below.

Advantages of cloud mining:

Disadvantages of cloud mining:

Home mining as a long-term investment

Despite all the advantages of cloud mining, many beginners in mining still prefer to have their own equipment. Mining industry begun with home mining farms and such approach still remains relevant.

Advantages of home mining

You can start with solo mining, and then think about pooling or building up your computing power. And here's why:

Disadvantages of home mining

Of course, there are some issues that can be discouraging for potential miners:

Cryptocurrency market assessment

Some potential miners who want to take their first steps in mining, are a little bit discouraged of buying their own devices due to the problems with equipment operation and some economic factors. Anyway, those issues are not as crucial as it may seem and moreover we can make positive forecasts:

  1. Now it is a calm period and the industry is open for newcomers.
  2. The equipment price is not artificially overvalued. There is no high demand anymore, so any devices are available for buying without any difficulties.  
  3. The main cryptocurrencies rate is either in the low point before the increase, or it shows growth in the context of several years. This is also an ideal moment, for those who want to get profit from cryptocurrency exchange (changing the "bear" exchange trend to the "bull" trend). Analysts of Masterluc, Cryptotrader, Fundstrat and others have mentioned it.
  4. Most of the altcoins (now there are more than 1500 of them) will be screened. Crypto industry will have more influence due to its expansion into most of the social spheres. Generally speaking, experts  consider that the December bitcoin cost at 20 000$ is not the limit of growth.

Thus, the market situation is rather favorable for the entrance. But what about other discouraging issues?

Overcome the obstacles and start mining

If you are ready to deal with market difficulties we will help to overcome the rest of the obstacles.

For that purposes BiXBiT company has developed a ready-made software and hardware complexes, which professionally deal with the most common mining problems. It can be provided in either a ready-made solutions or as a basis for further modernization within the framework of open-source.

Its main distinguishing feature is immersion cooling. Such approach implies that the equipment is immersed in the coolant and thermostated in the specified temperature corridor.  It has the optimal temperature regime, which lets reach the maximum performance of equipment.

Using immersive cooling eliminates a number of most common problems:

Our second distinguishing feature is efficient heat utilization. Usually generated heat is considered to be a problem. But we figured out how it can be efficiently applied. BiXBiT solution allows to relocate the generated heat into central heating, which allows to warm up water, your house or even a greenhouse with thermophilic plants. This will let miners save some money and, in some cases, to get some additional profit.  

The third know-how of our company is a diskless start-up system. In addition to the hardware part there is a software, which includes images of operating systems with preinstalled programs for mining. Each image tooled for the most popular cryptocurrencies and all you need is to add your private wallet. You get a significant competitive advantage over other miners, since you can change the blockсhain network within a few minutes to a more profitable one at the moment. Hardware re-configuration (in case of GPU) occurs automatically and is restarted with new settings.

BiXBiT complex will allow to:

Thanks to our solution, you will be able to enter the sphere of mining at the most suitable moment and at the same time avoid all the most common problems of this industry.

4 months ago
MINING Longread