If you keep it running without stopping for 1 month with bitcoin software running, than it will generate &#3647,1.13 bitcoins which are omschrijving to $7.86 US Dollars.

Bitcoin mining ter Pakistan: Profitable or not?

Can you just keep your system on and earn money? Yes you can with Bitcoin. Bitcoin is a Digital currency created te 2009, according to wikipedia. One Bitcoin is equal to about 7 Dollars at the time of writing this blog. And only a latest pc is required to generate this digital currency, te other words, revenue. Is this truly true? Is this a fresh way to earn money while at huis te pakistan? Can money be earned just by keeping your pc on while ter Pakistan?

Yes, the process is called mining. You install a program downloaded from bitcoin webstek or 3rd party sources, make a free account and just keep that software running and it will generate bitcoins, which have a value of $7 Dollars vanaf bitcoin. But is it that plain?

The concept of mining:

You keep your rekentuig on all the time and a calculation will be done on your compute and when it gets solved you are paid bitcoins. The calculation is te the form of blocks, solving one block will yield 50 bitcoins. But the time it takes to solve one block depends on speed of your system.

What you need to generate bitcoins?

Just a rapid latest rekentuig hardware with enough speed ter terms of Mhash/sec. Either CPU or GPU can be used.

Mining Bitcoins ter Pakistan:

The idea is very attractive, just keep our systems on and you will earn money while at huis or at your office or anywhere even on your cellphones etc.

What is the problem with keeping computers on all the time?

Computers use electro-stimulation and produce fever. Te country like Pakistan where there is energy keerpunt, will it be suitable. Also running a rekentuig all the time at high usage level can pauze it.

Examples to understand Bitcoin mining:

Lets say you have core i3 CPU. From this webstek: Mining hardware speeds, it can produce about 9 Mhash/sec. If you keep it running without stopping for 1 month with bitcoin software running, than it will generate ฿,1.13 bitcoins which are omschrijving to $7.86 US Dollars.

Similarly if you use GPU instead of CPU and have Nvidia 9800GT than its like this. Nvidia 9800GT can generate 30 Mhash/sec and if this system runs for one month with bitcoin software working than the bitcoins generated are ฿,Trio.76 or $26.Nineteen US Dollars.

When you run a rekentuig for one month than it uses electrical play. Lets see what is the electro-stimulation consumtion for above two examples:

Example 1: Core i3 CPU:

Power required: 80 Watts

Coins: 50 bitcoins (solving one block would mean you earn 50 bitcoins instantly)

50 bitcoins = $350 US Dollars = Rupees 30100/=

Time required to earn 50 bitcoins at its speed (solve one block): 1348 days, 11 hours, 47 minutes

Tens unit consumed: 2589 kWh

Rate vanaf kWh te Pakistan: Rupees 13/= estimated

Cost of violet wand for using 2589 kWh violet wand = Rupees 33657/=

Televisiekanaal balance: 30100 – 33657 = -3557

So instead of earning you are actually losing and also this does not include air conditioning costs or even hardware cracks which may occur because of high usage of system alongwith other things.

Example Two: Nvidia 9800GT:

Power required: 105 Watts

Coins: 50 bitcoins (solving one block would mean you earn 50 bitcoins instantaneously)

50 bitcoins = $350 US Dollars = Rupees 30100/=

Time required to earn 50 bitcoins (solve one block): 404 days, 13 hours

Tens unit consumed: 1019 kWh

Rate vanaf kWh ter Pakistan: Rupees 13/= estimated

Cost of electro-stimulation for 405 days or for using 1019 kWh violet wand = Rupees 13247/=

Nipt balance: 30100 – 13247 = 16853

So you earn harshly 16000 vanaf 405 days that is about 1 year and it does not include air conditioning expenses or hardware cracks that might occur with such high usage alongwith other things

Lets see another example:

The most higher speeds are from a GPU like ATI 5970: 550 Mhash/sec and it is even recommended GPU by bitcoin, anyway:

Power required: 300 Watts

Coins: 50 bitcoins (solving one block would mean you earn 50 bitcoins instantly)

50 bitcoins = $350 US Dollars = Rupees 30100/=

Time required to earn 50 bitcoins (solve one block): 22 days, 1 hour, 35 minutes

Tens unit consumed: 159 kWh

Rate vanaf kWh ter Pakistan: Rupees 13/= estimated

Cost of electro-therapy for 23 days or for using 159 kWh tens unit = Rupees 2067/=

Netwerk balance: 30100 – 2067 = 28033

Again this example assumes that hardware did not pauze and does not include air conditioning charges spil well it only calculates the power consumption for GPU and does not take into account the entire laptop, but still spending 60000/= (which is the cost of this card) will earn 28000/= te 23 days, but there is no telling when that GPU may give up etc.

The above values may switch because spil time passess the difficulty level of the block increases which means more power and time required. Current values are with 244139 difficulty level.

Having a very quick rekentuig with latest CPU will only lead to ample losses, but having a very prompt GPU is beneficial and can even lead to profits. Use at you own risk.

Related movie: Bitcoin Mining | Microsoft Software | Free Download


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