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