Bitcoin Global News (BGN)
July 25, 2018 -- ADVFN Crypto NewsWire -- Because of one Blockchain
firm, perhaps in the near future, anyone will be able to mine
Crypto in a profitable way, if they have a Windows
laptop.
It was recently announced on
CoinDesk in an apparent, exclusive report, that a small
firm named Honeyminer, which has been running a live app
since June, gives any would-be Crypto investor the ability to earn
a reliable stream on income through GPU mining.
If you’re not already clear on the
subject, GPU mining means letting your computer’s main graphics
card work on a Crypto network, as long as it is not being used for
any other tasks.
As of now, GPU mining is one of the
most popular forms of mining but the principal problem with it is
that the space has become saturated with specialized graphics
cards that cater to the wealthiest users.
Related to this, another problem
that exists is the fact that only some Crypto projects are truly
what is often termed, “GPU friendly.”
To clarify, by “GPU friendly,” we
mean, able to be reliably mined with graphics cards, which are also
called graphics processing units.
With Honeyminer, the entire process
is reportedly as simple as downloading the app and following simple
directions. One Honeyminer spokesperson was quoted as saying that
the firm has purposefully taken away the need for the user to
understand any sort of complex mathematical process to begin
mining.
Furthermore, Honeyminer and
CoinDesk claim that its offering is specifically targeted towards
users who are passionate about getting started with Crypto but have
a hard time truly using Crypto exchanges.
One hope is that because of this
central goal, Honeyminer just might be able to make mining almost
universally accessible.
In what is seemingly also a serious
effort to avoid increasing latency on the networks involved in the
app, Honeyminer automatically changes what Cryptocurrencies the
user is mining. In short, the firm claims that this is done to
maximize the user’s chances of remaining profitable in his or her
mining endeavors.
Even in the face of all of these
promising possibilities, it has also been stated by CoinDesk that
realistically, HoneyMiner is not the most profitable option on the
market due to the fact that users can expect a 2.5 to 8 percent
return on their investment, still based on what mining hardware
they use. On the other hand, traditional mining with very
specialized hardware can also apparently cost as much as simply
purchasing a Bitcoin, that CNBC discussed under the
terminology of, “the breakeven cost of mining a
Bitcoin.”
With this under consideration, it
is not actually completely clear whether HoneyMiner truly is for
everyone because of the fact that owning specialized hardware can
increase the user’s chances of obtaining a bigger ROI. Still, we
can conclude at this time that for beginners, HoneyMiner is an
excellent place to start to learn the ropes.
By: BGN Editorial Staff
News:
Cryptocurrency
Mining
Cryptocurrencies
Blockchain
Honeyminer