Hosting Cryptocurrency Miners at Scale | PARAGRAPHIC
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- Опубліковано 15 лип 2024
- The world of crypto is ever-evolving. For every advocate, there is an opponent. For every weakness, there is a strength. Get an inside look at a massive cryptocurrency mining facility where they host private miners and tackle all the challenges and the changing landscape of these digital currencies.
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What is cryptocurrency mining?
Cryptocurrency mining is the process of verifying and adding transactions to the blockchain public ledger. In order to do this, miners must solve a complex computational problem that requires a large amount of processing power. The reward for solving this problem is newly minted cryptocurrency, which the miner can then sell on an exchange for fiat currency or use to purchase goods and services.
Cryptocurrency mining is a very resource-intensive process, and it is not uncommon for miners to use specialized hardware in order to increase their chances of success. This hardware can be very expensive, so many miners choose to pool their resources together in order to reduce costs. When mining at scale, it is important to have a robust infrastructure in place in order to avoid downtime and lost revenue.
Cryptocurrency is still new.
Cryptocurrency is still in its infancy, but it has already shown great promise as a new way to transact and store value. Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Bitcoin, the first and most well-known cryptocurrency, was created in 2009.
Since then, hundreds of other cryptocurrencies have been created. Some of the more popular ones include Ethereum, Litecoin, and Monero. While cryptocurrency prices can be volatile, they have been on a general upward trend in recent years. This has led to an increase in interest from both investors and businesses.
One area where cryptocurrencies are starting to gain traction is in the area of hosting cryptocurrency miners at scale.
While individual miners can still profitably mine cryptocurrencies using just their personal computers, large-scale mining operations require significantly more investment. This has led to the formation of specialized mining facilities, which often use industrial-grade equipment to maximize profits.
Hosting cryptocurrency miners at scale can be a lucrative business opportunity. However, it is important to understand the risks involved before getting started. For example, miners need access to cheap electricity in order to be profitable. They also need to be located in countries with favorable regulatory environments.
Like any rapidly evolving technology.
Cryptocurrency is like any rapidly evolving technology in that it is constantly changing and evolving. As new technologies are developed, old ones become obsolete. This is why it is important to stay up-to-date on all the latest news and developments in the cryptocurrency world.
Just like cars, computers, the internet, and social media, the early stage is not always reflective of the final product. The first car looked like a horse carriage, the first computers filled warehouses, at one point the internet was just a fad, and social media used to be for friends and family but now millions of people find themselves in the business of influence. It's hard to predict the future but you can always look to the past and see how technology consistently improves generation over generation.
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#crypto #cryptocurrency #cryptomining
So when I buy a can of coke with crypto, the world has to run a calculation to approve the transaction? Seems excessive.
Your credit card company does it every time you swipe for a Coke today.
"every minute of the day and in the night" bruh
Most of the money made during the gold rush were the guys selling the shovel while the miners went broke. This guy is selling the shovel.
how does he power his fans for his evap without using electricity?
I think he is referencing the act of cooling, not so much an electricity free system.
Specifically, not using electricity to power a condenser or compressor to create a heat exchange, which is one of the higher energy requirements for air cooling
8:01 The best explanation of what crypto mining basically is!. Iv always heard people talk about crypto mining, tried reading about it and looking up what it is and how it works. And this right here is the best explanation ever. 👏. Step two is how to mine using a hp windows 10 laptop with 4gig ram and 500Gb internal 500Gb external storage...😩
So weird. They talk about it as if they’re proud of what they’re doing.
Well, they are. They bring money. Who doesn't want money?
@@bai_qi it’s like cigarettes. People use to think it was cool until they learned it gave them cancer. Nowadays smoking is heavily restricted because the negative outweigh the positive.
@@roman2011 if you're inside that "circle" you won't notice it until too late
Bitcoin is not doing so well in el salvador.
It's loosing value every where
Did I hear 8000MW 🤔
Wow I cant believe this channel is putting this up
It's very disappointing
Thanks for showing us a unique enterprise. It will be interesting to see what happens when currencies like ETH (#2 crypto) switch to Proof of Stake which eliminates mining
It felt like filming the original computers that filled entire warehouses, or an assembly line of the first motor vehicles. The future is never certain but blockchain and changes like PoS seem like they will only continue to improve in efficiency over time.
@@PARAGRAPHIC Henry Ford's Model A wouldn't pass any emission test today. "The only limit to our realization of tomorrow are our doubts of today" Franklin Roosevelt (1882 - 1945)
Such a waste of energy for the crypto bubble
How do you feel about the energy that Christmas light decorations use? How about PlayStation and Xbox usage? Are you the energy police?
what about the waste of energy banks do? what about the waste of energy your washing machine or fridge do? your tv, your computer, your electric car and so on, what about those? let’s just go back to the cave times and not use energy at all 🤡.
Crypto bubble? Cryptos the best performing asset of 2023
Wonder how much Ethereum 2.0 has impacted their operation
I work at a crypto mine. The people I work for switched to Ethereum Classic and still seem to have intentions of expanding. I'm in the dark on the financials but I thought I could shed some light on the industry. The video wasn't loud enough to compare to how loud it is in a place like that.
I was using 6 cards making about 7 bucks a day on nicehash. After the merge i went down to 1.60$ a day. I used a 3080 3070 3060ti 2070 1660 ti and super. They are not making as much anymore. I can barely cover the energy cost now.
To evaluate ROI based on the current market conditions provides a wrong picture. The price of BTC will change to enormous heights just in a few years from now.
You want to bank your BTC today and wait. You are one of the few that are generating crypto through their own source. Remember that AMAZON never made any profits for at least 15 and more years. But their infrastructure was the asset that made them #1 in Internet sales. Your crypto wallet is your asset.
Really disappointing to see y’all popularizing this energy sucking speculative bullshit
So sad to see the waste of energy, this is just another cancerous take on fiat currency. The concept of crypto was good, avoid inflation from the printing press and bailouts, the energy "currency" takes a massive toll though. Do you want tangible value or an even more imagined currency? Because energy is sort of tangible. Crypto currency is not.
Take a moment to mentally compare the use of electricity and resources for crypto mining operations to the same for fiat currency infrastructure. All across the world, there are banks, accounting firms, credit card companies, "money transfer" business, and I'm sure that I'm just scratching the surface on all of these types of places necessary for all of the dollars and euros of the world to function. All of these places need people to drive to them, they need to be air conditioned, they have their own computers and lights running day and night. I think you can see where I'm coming from. Fiat currency wastes way more energy than crypto. Crypto is streamlined, you don't need bankers, accountants, money-transfer people, etc. You cut all the fat because it's just computers making the system work.
@@N0Lif3 Take a moment to find some quality sources for that claim, and compare the sum total vs energy consumed. $1 trillion @ 1MW is a lot better than $100 million (in crypto value) @ 1MW (just an example). You made the claim, you back it up.
🔥films
such a waste of energy and all for some magic internet money.... :/
That's ignorant
@@ChiefShaman 1 btc transaction consumes the same amount of energy as 400K creditcard transactions
@@TJ-fo7gy it is a huge waste of electricity had a buddy that had a decent size warehouse running a similar type of operation his bill was like 60-80 grand a month not very sustainable
@@SharkButtholio And what are we gaining? What good has crypto brought so far?
Most of humanity is a waste of energy..... Idiots existing for the sake of existing, with the sole reason for existence as running behind money....
The magic internet money has a better chance of fighting inflation than your non magical paper money....
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can't focus on what he is saying after hearing "yeah" after every sentence 😂
Really disappointing to see yall giving a platform for this crap
Are you a fan of central banks that have humanity enslaved? Bitcoin is freedom money
Man, we're EVERYWHERE! Great video and welcome to the family!
What is the best way to make profit from crypto investment?
I don't trade, I invest with a professional assigned by a crypto company that trades for me and returns profits on weekly basis for me and you can invest your capital and get weekly Returns of investment (ROI) without any extra fees attached
The professional is Ms Roselinz
yeah that's right I think the best way is to invest with a professional, at least it saves the trauma of too much losses
This just surprised me because I also invest with Ms Roselinz
You've just made my day guys, I've lost so much trying to invest on my own
Richard Heart bro.. PulseChain and HEX is the Future.