Remote mining or free cloud mining 2016 is a term used to refer to sites that provide mining services for cryptocurrencies such as Bitcoin. This service provides remote mining and does not require expensive or bulky hardware.
The mining process involves various programming tasks that operate on a piece of hardware. The mining process is like an investment that lasts a lifetime. The selling value of Bitcoin is increasing every year so Bitcoin mining is not at all detrimental.
Local Mining Comparison with Free Cloud Mining 2016
There are lots of ways that you can use to mine or mine Bitcoin. The first way is to buy or create your own hardware and then run it yourself at home. Another way, of course, is cloud mining. What is the difference between these two ways?
1. Local Mining
Local mining is the process of mining Bitcoin or other cryptocurrencies that we do at home using various sophisticated equipment and technology that is able to generate a lot of crypto currency every time we mine.
There are several advantages and disadvantages to mining cryptocurrencies with this local mining method. here are some of the advantages:
- It can be done for a lifetime because the hardware you have can be turned on whenever you want, it can even be used forever.
- Can be monitored at any time for 24 hours a week. You can also check at any time.
- Safe and protected from various frauds. Mining is done yourself at home and does not involve other parties who can deceive you.
- Mining results are not shared with other miners so you can enjoy them exclusively.
besides some of the advantages, every miner of course must find out what shortcomings this local mining method has. That way miners can find out if this method is a better method than free cloud mining 2016. The disadvantages of local mining are:
- Mining hardware is sold at a very expensive price. Antminer S7 for example, is available at a price of USD 1500 even though it does not include the PSU or Power Supply.
- The hardware used specifically to mine Bitcoin has a high noise level so it is quite disturbing.
- Hardware mining also consumes large amounts of electricity. One unit of AntMiner S7 requires 1300 Watts of power.
- Difficult to operate because mining hardware usually does not have a GUI at all.
If you don’t want to use special hardware, you can turn an ordinary computer into a crypto mining tool, but the results of mining are not the same as the results of special hardware.
2. Cloud Mining
Cloud mining also has various advantages and disadvantages. The following are the advantages and disadvantages of cloud mining that you should understand.
|Advantages of cloud mining||Disadvantages of cloud mining|
|The rental price is quite cheap||Many fraudsters use cloud mining as a cover.|
|Hardware rental can be done once and for all.||Application updates usually take a long time.|
|Does not require various fees or expenses.||There is an admin fee, usually 30% of mining revenue.|
|Does not make a loud noise.|
|The electric power used is not too large.|
|Can be adjusted as needed because it has a GUI on the control panel.|
After understanding the advantages and disadvantages of each mining method, you will definitely be more careful in choosing the best mining method. Make sure you are not careless in determining the mining method so as not to meet losses.
In addition to information about free cloud mining 2016, get various other useful information related to cryptocurrency from mediaauthority.co. Complete your knowledge of crypto before deciding to dive into the world of crypto mining.