Bitcoin mining: Can it be profitable in 2020? Finder

Leads you to a comprehensive understanding of Forbes

Leads you to a comprehensive understanding of Forbes

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What is the hottest blockchain project in 2020?
Besides GFS, GFS is still GFS in my mind! GFS currency - the only token of Forbes cross chain blockchain!
Forbes is the latest generation of blockchain, which can be said to be a new blockchain mode, or it is not a pure blockchain project. As we all know, in the era of blockchain 1.0, the bitcoin of Nakamoto brings decentralized distributed bookkeeping book, which enables human beings to have just assets for the first time; in the era of 2.0, the Ethereum smart contract created by V God makes the blockchain have divergent applications; in the era of 3.0, innovation public chains such as EOS make the application of blockchain easier to land. It will open Forbes in the era of blockchain 4.0 and create a distributed financial era of "ten thousand chain interconnection". My feeling is that Forbes is going to overthrow the traditional Internet and the classic blockchain, and reshape a financial world built directly on the blockchain.
The most classic sentence on the Internet is: change your life, but it has nothing to do with you.
In this way, Forbes uses the philosophy of blockchain and further technology to redo blockchain and bring blockchain to a new dimension. Today's bitcoin looks like a monument and a myth, but Forbes is using its cross chain technology and financial deployment to gently reinterpret the blockchain.
Next, I will expand what you are concerned about and what I see in the form of Q & A:
1. Is it investment or speculation to participate in Forbes?
Although we do not exclude speculation, there is no doubt that participating in Forbes is one of the best investment behaviors in 2020, no less than investing in bitcoin in 2013 and Ethereum in 2016. Forbes is a pure technology project, with no messy black box operation. As Forbes early deployed the ore field to facilitate the construction of cross chain system, early users can rent the Forbes BTC miner loaded with self-developed bitcoin ASIC chips by way of mortgage, with the strongest configuration on the ground. Moreover, in the process of mining, the early nodes do not even need to pay a penny, only mortgage deposit can deploy the physical miner. The income obtained can also participate in the early stage node plan carried out by Dao organization, and part of the income can be converted into GFS through Forbes wallet.
And the deposit is not a routine, all the mortgage deposits will be locked in the chain. With the shortening of the lease term, each day will be returned to the user's wallet through the "deposit smart contract", without any centralized individual and organization participation in the whole process. In this way, it is equivalent to zero risk investment! After all, Forbes, with its cryptology and open source spirit, is inherently powerful. What Forbes wants to change is the life of centralization!
And then there's no more. Jane is not simple.
2. Why do you like Forbes?
Very simple, blockchain 4.0
First of all, let's not talk about anything. Forbes has solved a problem - mining hegemony.
In the past, blockchain seems that nodes can enter and leave freely, but in fact, it needs a huge threshold to become nodes and obtain mining rewards. Whether it's bitcoin, you need to buy very expensive and complex mining equipment (ASIC miner), or EOS, Tron and other POS projects, and you need to hold a large number of coins to be elected as nodes. All in all, most of the current blockchain systems need very high mining costs, which in essence violates the principle of zhongbencong's blockchain design.
The powerful thing about Forbes is that it creatively constructs dpoc as a consensus mechanism of trunk chain (main chain). Dpoc is a kind of common understanding of POC. There is no big deployment threshold for mining with hard disk miner. As a result of the consensus between Forbes blockchain Multi Chain Design and dpoc, all mining machines that do not have the relay chain node selected can pack the interaction information between the parallel chain and the relay chain, and can also obtain the block reward. In essence, such a design realizes Zhongben Cong's idea that everyone can dig. Let alone Forbes to build a mine pool, to build the strongest mining machine that can dig out the Forbes token GFS.
With this in mind, which blockchain product can match.
Layout of Forbes
The vision of Forbes: to build the most universal distributed financial system in the world, driven by Forbes, the most widely used cross chain system in the world.
I saw two key words: cross chain, distributed Finance
Cross chain is the most urgent problem in current blockchain ecology. In the past 10 years, various blockchain systems have been deepening in security and performance, but no progress has been made in chain and chain scalability. As you can see, the chain and the chain is an island. Can EOS players and wave players break the bond?
In the human financial life, transaction, loan, personal credit, supply chain finance, stock, commodity... They are directly full of interaction and connection. It can be said that human beings are dealing with all kinds of transactions all the time. Can the isolated blockchain really solve the problem?
Forbes is born to be a global distributed financial system and truly a financial ecosystem. Imagine what a change it would be if you could smoothly carry out blockchain financial activities with foreign small partners. This pattern is too big for me to say. But please believe that if this is done, it can be described as a complete disaster.

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3. Is it better to mine or invite new people?
Since this is my experience interpretation, I think: invite, boldly invite new people. Every time you invite one, you add a certain amount of calculation power. It's good to mine in Buddhism, but if you can participate in the birth of a great project, you can get more profits. Why not?
Let's take a different perspective: now that you recognize Forbes, you recognize its value. Or you're not going to dig, are you! So, why can't we add more yards! Since we are trying to change our destiny, this is the highest lever. If it does, which lever can be bigger than Forbes!
So, invest money or energy, and do what you can.
4. Do I want to join the Forbes pool project?
Do you want to do it.
They all recognize the value, so they can download the application directly.
My original intention:
First of all, GFS coin is a new mining model - POC hard disk mining that "everyone can dig, everyone can benefit". It avoids pow (proof of work workload) which is a large power consumption mode. In the initial stage of the main network online, Forbes opened the mine pool plan, leasing the mine machine at zero cost, becoming the earliest node of blockchain 4.0 representing the project, and obtaining the maximum benefit. Why not? You know, GFS production is also halved in four years. To dig now is to dig bitcoin before 2013, without cost.
Secondly, in this stage, we can also increase the number of invited nodes. After the completion of the mining pool plan, we can only rely on hard indicators to increase the computing power. Now we can also rely on our efforts to get more profits. Therefore, in the face of equal opportunities for all, this is a great opportunity to take the initiative. Still hesitant?
5. Blockchain is my knowledge blind area. What can I do if I don't understand cross chain knowledge?
First of all, you have to ask you, this is the excuse you don't want to get wealth?
Not only Forbes is your knowledge blind area, but blockchain is a knowledge blind area for ordinary people. However, you should know that in 2020, the State advocates blockchain, the central bank DCEP has been put into trial operation, and blockchain has been applied in many aspects. Are you still in your blind spot?
Of course, it's not good to pull the national flag. Let's talk about something practical. Opportunity always appears in new things. Ask, what's the matter with you, a solidified model? You have money or connections. I believe that choice is more important than effort. A road, if we choose the wrong direction at the beginning, the harder we work, the farther away we are from our goal.
Therefore, the knowledge blind spot is not my problem, but whether you have a heart willing to contact new things!
Among the miners I know, there is a 67 year old elder brother who has been a soldier, a factory, a traditional businessman and a cell phone. Do you still have his blind spot?
6. Will Forbes succeed?
To be honest, I don't know. But I know that it is the blockchain project that I hope to reach the most in 2020. For details, please refer to the second question, why I like Forbes. If you really question Forbes, you can choose to only participate in the "miner Alliance Plan" and choose to mine at zero cost. No matter how the Forbes project progresses, you can get the benefit of mining without cost. Why not? Besides, when the Forbes project is really implemented, you can decide whether to invest in GFS. I'm sure you will have your own judgment at that time.
7. What is the most important thing to dig GFS?
Insist, insist, or insist.
We must make full use of our efforts in the earliest planning activities of the mine pool. After all, mining at zero cost + inviting to increase the calculation power and increase the support in the wet season. At this stage, we must dig more coins and exchange more for GFS. Maybe the reward coins you dig out in three months can't be found in a year after you try to buy hard disk mining machines for nodes.

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8. There are so many people who rent mining machines first. Do I have a chance?
People die more than people, and goods are thrown away more than goods. Don't compare with others, just be yourself.
God said, I can fulfill your one wish, but I will give you twice as many neighbors.
You will choose 10 million positive choices,
Or one less arm in the dark?
Mining is like this. Those old miners are your neighbors. Dare to own 10 million good, do not think about neighbors than you 10 million. Is that right? And when there are 10000 GFS, do you still want someone to have 100 more than you?
9. How much is GFS worth?
To be honest, I don't know. The number of GFS is 21 million bitcoin, and the price of bitcoin is about 60000 yuan. The GFS main network has just been launched. In some markets, its price has increased more than 10 times in five days, far exceeding the price of bitcoin before the half reduction. The miners who rent mining machines in advance are blessed.
As for the future, with the start of the implementation of blockchain financial facilities this year, GFS must be just the beginning. Where is the top? We witnessed it together.
10. Which do I want, kusd or usdt?
For now, it doesn't matter which one you use. Although usdt has a lot of potential risks, there are still many people using it. However, we all know that it will have a thunderstorm sooner or later.
As a cross chain gold stable currency, when cross chain finance begins to integrate into public life, kusd will show its power, which is better than issuing a usdt once in a chain. Moreover, more than 95% of the value of each kusd is based on gold, which can be exchanged by major gold exchanges in the world. The stability of gold. Have you seen it clearly in this epidemic? This is beyond the dollar.
submitted by forbeschain to u/forbeschain [link] [comments]

It's time we had a talk about mining and markets... and scams... and other nonesuch...

Hello Bitcoiners. My name is Joshua Unseth. I'm not an economist you've ever heard of. I'm not really anybody. But I've been doing this for a long time, and I keep seeing the same thing happen again and again and again with regard to new entrants into the Bitcoin space. So, I thought it might be time to sit down with me in front of the proverbial fireplace, and have a little talk about markets, mining and all other sundry topics.
Why you ask?
Very simple. I'm of the opinion that you ain't a Bitcoiner until you've been scammed. Everyone gets scammed. And almost always, it's a giant slap in the face reminding you of your hubris... and trust me, you are full of hubris. Before we start, let me give you an illustration that characterizes how the rest of this little article will go:
If you walked into a room with no prior experience and said that you were going to be the greatest basketball player of all time, everyone in that room would rightly laugh at you. Likewise, if you walk into Bitcoin and think that you will be a successful miner, don't be taken back when you get laughed at. Like everything that people develop expertise in, there are those whom are good at mining and there are those whom are bad at mining.
Before you begin down the long path of Eureka moments regarding Bitcoin, economies, the nature of money and everything else, let's get out of our system a few base rules that I think most of you will agree with: 1) deep markets are efficient, 2) scammers suck, 3) regulation is a bitch, 4) I'm an idiot... and so am you.
The most important of these assumptions is #1 and #4. If you want to understand why, I highly recommend you read my super boring blog post about why deep markets being efficient and you being an idiot are so important.
Here's the thing about mining. Everyone who comes to Bitcoin thinks that they have things figured out. You can buy this money-printing machine called an ASIC, and voila, you will have yourself some bitcoins. But that just ain't how it works. I know, I know, you've run the numbers. You know that the miner that you're buying will pay for itself in 3.46 months, and everything thereafter is ka-ching ka-ching profit baby. I know.
You're wrong. How do I know you're wrong? Well, it's very simple. I know you're wrong because deep markets are efficient. And while Bitcoin itself may be a woefully shallow market, mining is competitive. Very competitive. Very very hyper super competitive. And because of that, I know that you are wrong.
But how could that be? You've run the numbers? Why am I disagreeing with your math? It's math right? It can't lie...
No, math is math is math is math. The problem with new to Bitcoin people is that while math may be math, I know something that you don't know, and it's simply that the implications of something like markets being efficient is that in a world where there is a highly commoditized good or service, the profit of that good or service will move toward $0. That's right, $0. What's more, as people who actually have some specialized knowledge of that good or service begin providing service in the market, it's likely that profits for the average person who does not have knowledge will move to -$n. Moreover, if we believe in the fundamental rationality of humans, that they will act in their own economic interests, you have to consider the fact that the calculation you did to show these miners will pay back in under four months is the same calculation that these ASIC manufacturers are doing. Wait what? So the miner makers know that they are selling you an object that you will run for 6-8 months knowing that your pay-off is in 4 months? Really? You believe this?
Here's the thing, in a world where you pay $10k for a miner (let's go with base 10 because it's easy), and you will make all of that back in 4 months, that miner will make between $15k and $20k. So in a year, you will do something like double your money. This is the equivalent of earning something like 6%/month on the stock market. Earnings of this sort are impossible. Madoff was returning 15% or so each year. So those earnings are off the charts.
So here's the simple math behind mining. If a company is producing miners that can pay you back and then some at a rate of 6% per month, the very simple thing for them to do is go to raise funding. Showing those earnings to a VC or an Angel Fund would basically guarantee that you walk out the door with a check for like a $100 million. Here's the thing, while VC's or bankers are often referred to as smart money (though I hate to give them the satisfaction of the title), you and your stupid wallet are probably what are called dumb money. Smart money is the money of seasoned, researched, veterans of finance. Dumb money is the opposite. While it won't be the case 100% of the time, chances are if you are reading this at home in your undies, and are just shaking at the indignity of my characterizing you as probably dumb money, then you are almost certainly dumb money. Dumb money always thinks it's smart money. But, riddle me this very simple question: in a world where a company can nearly promise 6ish% risk-free returns per month, why is it that they are selling to the dumb money investors instead of the smart money investors? Maybe those returns aren't so risk-free. And if those returns aren't risk-free, show me where in your calculated returns you are accounting for that risk. Do you understand net present value? Are you accounting for the opportunity cost of not purchasing the miner and just buying bitcoin or maybe just buying broad-based, risk-mitigating ETFs? Do you have a good handle on where Bitcoin prices are going. If you're answer to these questions is yes, yes and yes, then you are lying to yourself. If your answer to these questions are no, yes, and yes, then you are lying to yourself. if you're answer to these questions are no, no, and yes, then you are lying to yourself. If you're answer to these questions respectively is anything but .*, .*, and no, then you are lying to yourself. You have no idea where prices are going, and neither do I. How do I know you know nothing about prices? Well, because markets are efficient. And while I'll acknowledge that BTC is a fairly shallow market, it is still the case that even in shallow markets prices are generally pretty indicative of what a thing is valued. It is to say, the price of Bitcoin right now has every inch of risk and outcome baked into the price. Unless you have special knowledge of Bitcoin and her players, you know nothing more than this very simple tautology: the price is the price.
So back to the question, why do miners sell equipment to dumb money instead of smart money?
The answer is very simple: mining manufacturers, cloud mining operations, people who are promising what amounts to risk free return, they are scamming you. If they think they can provide you with miners that will outperform your wildest expectations, I promise you, they are scamming themselves and also scamming you. And, to be honest, you're scamming yourself when you buy your miner. Why do I say that? Because if you actually believed you could earn an almost guaranteed 6% per month, then you would spend all of your money on all the miners, and you would go to the bank and get a loan, you'd get your parents to mortgage their house, and you would buy all the miners you could. You don't do that because your gut is telling you correctly that there is something wrong here. And before you get all huffy and tell me that a scam isn't a scam until it's revealed, there are some things that are so inordinately off-kilter, that you can know with (near) certainty before they plummet into the dark pit of irrelevancy. @ 6% per month, you're telling me that with an investment of $10k, you will make $320k (I'm not doing real math, just kind of winging it over here... it might be ever more, so if someone feels like coming up with the right number, I'll change tip you a few cents.) over the next 5 years. That just isn't reasonable. And if you think it is reasonable, you're greed is getting in the way of your brain.
So who should mine? People with a specialized knowledge of the Bitcoin mining space. BitFury is a great example of this. They make their own ASICs too. Why? Because they are trying to gain a competitive edge in an industry filled with very competent competition. To them, you are an irrelevant pissant. Who else should mine? People with a specialized need for virgin coins. When does it make sense to sell mining contracts? In the case that you are a large scale mining operation and you want to normalize costs such that your returns are less subject to the whims of randomness, you might want to sell contracts. How would you price those contracts? When you sell a contract like that as a big mining operation, you're externalizing the risk presented by the random swings of winning the hashing algo. To institutional miners, externalizing this risk is probably a smart business move. Very simply, they will calculate the Net Present value of having the money they would theoretically win through hashing over the course of the next 6 months or year or some other term, and they will sell contracts at a rate slightly below that to someone who is more desirous of taking on the risk. The gap between the NPV and the price of the contract is essentially a market-based insurance premium. It is the cost of risk-mitigation. So it begs the question (not in the philosophical sense), doesn't that mean that mining contracts - like those in cloud mining - are not scams? Good question. Well, here's the thing, you probably won't be offered contracts from institutional miners with good track records. Because just like there are people who are good at mining and people who are bad at it, there are people who are good at buying bundled risk and people that are bad at it. You, sir; yes you reading this article; you are bad at it. So don't do it. Why? Because markets are efficient, and you're an idiot.
So now that you've read this, go ahead, buy those miners, do your thing. But when you find out that I'm right and that you have been scammed, the only thing you will hear from me is "welcome to Bitcoin, you're finally part of the club."
submitted by junseth to Bitcoin [link] [comments]

Mining Profitability Calculator Mining $200 Daily  Asic Miner Co Zeon Review  200,000 ... What Bitcoin Miners Actually Do How Much Money Will You Make Bitcoin Mining Bitcoin and cryptocurrency mining explained - YouTube

Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Mortgage Gold; Bitcoin miners review and verify previous bitcoin transactions and create new blocks so that the data can be added to the blockchain.; Bitcoin miners perform complex calculations known as hashes, and each hash has a chance of yielding bitcoin.The more hashes you perform, the more chances you have of earning bitcoin. Use a mining profitability calculator. Before going any further, use an online mining profitability calculator to work out the likelihood that you’ll be able to make Bitcoin mining worth your while. Choose your mining hardware. Next, compare the features and cost of ASIC mining devices before choosing one you want to use. Keep in mind that ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Meat Mortgage. An application-specific integrated circuit (ASIC) miner is a device that is designed for the sole purpose of mining—not coal, but rather digital currency.Generally, each ASIC miner is constructed to mine a specific digital currency. So, a Bitcoin ASIC miner can mine only bitcoin. Think of Bitcoin ASICs as specialized Bitcoin mining computers, or “bitcoin generators.”https ...

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Mining Profitability Calculator

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