Let me introduce you to the fascinating world of SHA-256, my friend!
Check your sources, cause I'm new to this too, but ASIC miners use SHA-256 hashing algorithms. Other coins that use this 'proof of work' concept can be mined with an ASIC miner. Here's a good chart on coinwarz that shows different SHA-256 mined coins and their profitability compared to mining THE coin...
I used 7.3 T/h as I am modelling this plan on the Canaan Avalon 741. This says the "unbreakable" coin is my best race horse, and I can earn 1 BTC in 6 months (considering this altcoins value is "unbreakable" that long).. Which would pay for two of these miners, power supply unit, the wiring... Of course this doesn't include electricity, which is big.. And looking at crypto as the "Save-the World" platform, have the man pump the coal plants just a little harder to provide me the juice... You gotta ask yourself, 'Who's winning there?'
For more information on how the hash equations work, and the complexity, yet simplicity of the blockchain, look up a blockchain tutorial made by Anders Brownworth, DEFINITELY worth your time!
Again, I'm in my research and development phase, so please correct me where I'm wrong or point me to the way of the right.
Thank you @vaporhaze You certainly know more than I do, so I won't be correcting you anywhere. I just don't know. I really want to mine coin, but I want it to be worth doing, or at least make a bit of money. I'm now following you, if you have anymore useful advice please let me know.
Let me introduce you to the fascinating world of SHA-256, my friend!
Check your sources, cause I'm new to this too, but ASIC miners use SHA-256 hashing algorithms. Other coins that use this 'proof of work' concept can be mined with an ASIC miner. Here's a good chart on coinwarz that shows different SHA-256 mined coins and their profitability compared to mining THE coin...
https://www.coinwarz.com/miningprofitability/sha-256/?hr=7300&p=1300.00&pc=0.1000&e=Coinbase
I used 7.3 T/h as I am modelling this plan on the Canaan Avalon 741. This says the "unbreakable" coin is my best race horse, and I can earn 1 BTC in 6 months (considering this altcoins value is "unbreakable" that long).. Which would pay for two of these miners, power supply unit, the wiring... Of course this doesn't include electricity, which is big.. And looking at crypto as the "Save-the World" platform, have the man pump the coal plants just a little harder to provide me the juice... You gotta ask yourself, 'Who's winning there?'
For more information on how the hash equations work, and the complexity, yet simplicity of the blockchain, look up a blockchain tutorial made by Anders Brownworth, DEFINITELY worth your time!
Again, I'm in my research and development phase, so please correct me where I'm wrong or point me to the way of the right.
Thank you @vaporhaze You certainly know more than I do, so I won't be correcting you anywhere. I just don't know. I really want to mine coin, but I want it to be worth doing, or at least make a bit of money. I'm now following you, if you have anymore useful advice please let me know.