Is it Okay to Mine Bitcoins with Your PC?
What is a CPU? A CPU means Central Processing Unit, which are integrated into all computers and laptops. This device is designed to solve tasks and execute user orders. Its capacity is large enough to tackle daily actions like operating Office or internet browsing. In the beginning of Bitcoin history, it was possible to mine coins by yourself with just a CPU. A user could afford to mine bitcoins just sitting in a room and using only a single computer. This was possible not too long ago. In fact, it was just about six or seven years ago. Now, it’s impossible, but what was it like?
Mining in Short
Well, first of all, it’s necessary to explain what mining is. Mining is a complicated process of solving blocks. Having solved a block, a user has added a whole record of verified transactions to the previous block. So, this action keeps the bitcoin system afloat and prevents people from forging coins and faking transactions. As a reward, miners get bitcoins. For every block solved, the winner used to get 50 bitcoins; now, they get 25 (the reward halves every four years). So, there are thousands and thousands people who mine every day and this comprehensive collaboration helps the system. It verifies all transactions and they become legit, which makes cryptocurrency reliable enough.
How to Start
Okay, to back the system, there must be people who make their computers and devices solve blocks. They get money for their job. Several years ago, almost anyone could become a miner and start mining ― this is already clear, but what about now? Can someone mine coins with an ordinary computer and actually earn something? At least just to collect a few satoshi? It would be really nice to use your own computer and earn money just sitting in your chair and watching your machine compute millions of tasks every minute and prove each transaction. However, this isn’t so easy. Let’s think about this.
This way is pretty simple. A future miner needs to download the client and set it up on a computer. Then a miner needs to join any pool and start the race. In fact, if he doesn’t join a pool, he won’t ever get a single satoshi; however, he has a chance to get one or two working together with other miners in a pool. Anyway, if you are working in a group, in a pool, you will earn nothing. Well, of course you’ll get few satoshi as a prize, but the earnings are so little that your electricity bills will cost more than all the satoshi you’ll ever mine. So, to be fair, it’s absolutely unprofitable.
What’s the Reason?
Well, the problem for CPU mining is obvious and clear. The more computers, data centers with lots of ASICs, geeks with GPUs, and industrial mining centers that are mining at the moment, the more power the user’s computer needs to produce anything valuable.
This makes this equipment race kind of crazy and today, it’s definitely impossible to earn something via mining with only a personal computer without specialized hardware. Using a CPU for mining is useless.
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