Mining Bitcoin is not easy — bitcoin why millions of dollars have been invested to research, develop, prototype and sell specialized mining hardware. Unless you want to do pool hopping you should go to a pool with hopping protection.
Bitcoin Mining Calculator and Profitability Calculator
Such an ASIC would be efficient and profitable because you’d hopefully validate a block which would be worth more than your electricity costs. Two of the main factors that influence your profitability are: If you are looking to generate passive income by mining Bitcoin, it is possible, but you have to play pacifica cards right.
If it falls people will stop mining eventually. If the heat generated by miners will partly replace your normal heating costs, it is one calculator to save money and improve your chances of profitability.
As you would expect, more hash power on the network means that existing miners then control a lower percentage of the Bitcoin network hash power. Do not enter commas, only dots for decimal separator. In the USA, for example, most mining hardware is run in Washington State, where there is cheap hydroelectricity..