- If you’re new to Bitcoin, you might be interested in learning how to mine Bitcoin
- Unfortunately, it’s impossible to mine Bitcoin without a warehouse of specialist equipment
- Instead of trying to mine Bitcoin, try to mine altcoins instead – it’s possible
As more and more people start to get into Bitcoin thanks to the recent price hikes and mainstream media coverage, more and more people are looking to learn about Bitcoin. This has led many to ask how they can mine Bitcoin, but unfortunately, that ship sailed a long time ago, for the most part.
So, for all you Bitcoin newbies. Yes, it’s far, far, far too late for you to be able to mine Bitcoin without spending a crazy amount of money on hyper-specialized equipment.
Bitcoin Mining is Now for the Big Boys
Back in the early days of Bitcoin, you could mine it on a relatively powerful PC or laptop, and you could make quite a lot of Bitcoin through this method thanks to large block rewards. However, as time has gone on, the development of hyper-specialized Bitcoin mining devices has occurred.
Now, we’re living in a world where warehouses are filled to the brim with ASIC mining rigs that churn out trillions of hashes per second. To put this into perspective, a high-end gaming PC can probably do a couple of thousand per second. So, you’re automatically on the back foot and at a huge disadvantage. Trying to mine Bitcoin with your gaming PC or laptop will just result in a huge power bill and tears when your hardware fails far too early.
Can I Get an ASIC Rig and Mine?
If you’re dead set on mining Bitcoin yourself and you don’t care about the cost, you can. It will cost you tens of thousands of dollars to get up and running, but you should be able to start making a bit of Bitcoin, if you join a good pool. Even with $50,000 invested, you’ll still need to join forces with other miners in what are known as mining pools if you’re ever going to mine a block.
But, going down this route will give you access to the mining world and it will help you achieve your goal of becoming a Bitcoin miner. So, if you have the cash and passion for mining Bitcoin, why not. Just make sure you can afford to pay your electricity bill.
Long Story Short – Mine Alts
Unfortunately, the cost to buy ASIC mining rigs is rather high, so you’ll have to fork out a load of cash off the bat. Then, factor in power bills for running your rigs and think about the noise and heat they generate. Perhaps you can harness this heat and use it for something else, allowing you to make a second income through that method.
We’ve seen people using the heat to grow plants and even help farm crickets, so it’s not to say that it can’t be done. But, our best advice if you really want to mine is to focus on mining alts. You can still mine a lot of altcoins using your gaming PC or laptop and make a good deal of coin doing so – so look at that route if you’re dead set on becoming a miner!