Basic knowledge necessary for a qualified miner

It has to be said that mining is a very interesting thing. As long as the mining machine is plugged into the power grid and turned on, it can produce virtual currency 24 hours a day.

For those who have no knowledge of the virtual currency industry or only have a vague understanding of it, the best way to enter the industry is to mine.

Frequently Asked Questions:

1. What is mining? What is a mining machine?

Bitcoin mining machines can be understood as computers used to earn Bitcoins. They are very different from ordinary computers. They use special, customized mining chips and consume a lot of power.

The mining machine runs a specific algorithm and can obtain corresponding bitcoins after communicating with a remote server. It is one of the ways to obtain bitcoins.

2. What coins can Bitcoin mining machines mine? Can they mine Litecoin?

Bitcoin mining machines cannot mine Litecoin because the mining algorithms are different!

Bitcoin mining machines run the SHA256 algorithm and can mine the following currencies:

Litecoin mining machines run the Scrypt algorithm and can mine the following currencies:

3. How much money can I earn every day? How long does it take to get my money back?

We cannot guarantee mining returns and payback time.

The mining income of mining machines is limited by many factors, such as: currency price, computing difficulty, mining pool dividend ratio, network stability, etc. These are not what we can guarantee as a mining machine seller.

4. Can you make money from mining?

Before answering this question, please look at some pictures of the mine.

The answer is self-evident: mining can make money! If mining is not profitable, who would build a mining farm on such a large scale?

Of course, each person's situation is different, and electricity costs, site costs, management costs, and the size of the mine all need to be considered comprehensively. No one dares to say that mining will definitely make money!

But this is also normal. No investment can guarantee a profit without loss. If you want to make a profit without loss, you can only deposit your money in the bank!

5. Does mining require a high internet speed? Do I need to use a dedicated network?

Mining does not require a dedicated network, ordinary ADSL dial-up broadband is sufficient.

The 4M broadband in an average household is no problem for supporting several mining machines.

A 10M broadband can support dozens or even hundreds of mining machines.

There is one thing, it is best not to use Thunder to download or watch movies online during the mining process.

This type of application takes up too much of the network, almost filling up the entire network, causing the mining machines to be unable to connect to the mining pool normally for mining.

6. Do I need to buy another computer for mining?

There is no need to buy a computer, the mining machine can be used in the same way as a home router.

Only the first time, you need to use a computer to set up the mining machine. Once the mining machine is running normally, you don’t need to use a computer anymore.

Although these problems seem simple, once they are up and running, many problems will still arise if they are not managed properly, so such professional matters should be left to professionals!