Is mining still profitable?
Tags: Cryptocurrency, Blockchain, Trading, Mining

The Bitcoin exchange rate has ceased to be so attractive, then why is the business still interested in cryptocurrency mining?

Mining is not just cryptocurrency mining. It is an infrastructure organization to maintain the security of the asset registry of millions of independent users. Miners will always receive a reward for adding new blocks, and for verifying transactions in them. Cryptocurrency is simply “points” that can be obtained by contributing to the organization of network security. The cost of these “points” outside the system, of course, can vary, but “points” will always be awarded to miners.

Halving

Halving is a halving of remuneration for a newly found block every 4 years. Previously, it was 25 bitcoins, now 12.5, and in the middle of 2020 it will be, approximately, only 6.25, etc. Therefore, in order for such “shares” to motivate miners, taking into account the growing complexity of the network, their value should pay off both the equipment itself and the costs of its launch and maintenance. You can even calculate how the course should change to restore balance. That is why now there is such a demand for industrial equipment: everyone is trying to recoup capital investments, while the block reward is another 12.5 bitcoins.

Factors

This is perhaps the only industry where the demand for your product depends on a combination of a huge number of factors. Firstly, the speed of the chip. The faster the chip goes through the hashes, the faster you will get a reward from the network. Secondly, in the energy efficiency of the chip. In this case, the chip itself must perform calculations, practically without consuming electricity.

Next is heat dissipation. If this problem is not solved, it will be impossible to organize large data centers, and large production is necessary to reduce operating costs.

Another key factor is cost. Equipment should be inexpensive, large enough to minimize the cost of network equipment and maintenance, be extremely easy to repair and upgrade when new generations of chips come out (be able to upgrade).

And, of course, software. It is necessary to load the silicon chip with tasks as much as possible, monitor their implementation and bring the result to the pool as quickly as possible.

Long money

Creating large centers for processing transactions in a public blockchain network is essentially the same as building bridges, roads, and secure vaults. At the same time, the infrastructure also includes significant investments in electrical infrastructure, security systems, cooling and organization of processes for servicing the entire center. When investing in infrastructure, you should not wait for a return on investment for several months, however, a reward in the form of bitcoins for such a project will be much cheaper than buying someone else’s reward from the market. Another advantage of this approach is the significant benefit with each update of chip generations. It will be enough for a large investor only to replace hash fees, while maintaining and continuing to use all the previously created infrastructure. That is why costs and risks for a long period of time are always less among the creators of factory data centers.

Security as a Service

Bitcoin is just one of the applications, albeit the most commercially successful, which was implemented using blockchain software technology. But it was it that caused great interest in the practical application of cryptography and prompted a huge number of teams and companies in the world to offer their solutions to reduce costs, time, risks in a huge variety of business processes. Property registers, personal data, auctions, voting, supply of goods, distribution of financing — and in each project, the Bitcoin blockchain can serve as the most reliable “bunker” in the world, where you can save the checksum of any local (and therefore less secure) database, thus increasing its protection to the highest possible level without billions of investments in infrastructure.

MTCore Revolutionary Concept

One of the major factors affecting financial sustainability of the conventional mining systems is the high charge of powering the equipment, which in effect continues to increase the cost and lower the value of the digital currency. MTCore utilises BIDERATION software without added impingement of operational energy costs. Therefore, the viability of the digital currency is real face value. The BIDERATION software principal function is to deliver bids to the POB process and generate MTCore (digital coin). The BIDERATION system receives coded BIDS, which are then validated, through MTCore public wallet to the User Wallet.

Increased Financial Viability

The creators of MTCore have developed BIDERATION, which utilizes a new and revolutionary POB (Proof of Bid) software mining system. MTCore developers have made the BIDERATION process viable as a lower energy consumption system, making it a sustainable financial asset resource. For users, the benefit of this simple and very controllable mining method allows for accurate calculations thereby removing any unexpected outcome to the currency acquisition process.

Choose new revolutionary mining and profit with MTCore!