Is Crypto-Currency Mining Still Profitable?

On securing the Cryptocurrency network, since more new blocks are mined and also the trouble increases, that'll boost the security and stability of Bitcoin.


Antwerp, Belgium -- (SBWIRE) -- 01/07/2015 -- The time is ticking since Bitcoin's mining trouble increases ceaselessly, as miners of all kinds rush to buy the most recent cryptocurrency mining hardware. But is that all still lucrative for the average miner? Since the trouble comes close to 1,500,000,000, several miners are generally left in the dust.

The cloud mining, for example, won't ever break-even at-all, creating an utmost of 0.02 BTC, with expectations of selling it back to the marketplace, impossible. Altcoins, popular for its pumps and dumps characteristics. As new Altcoins pop-up each day, should miners stop using Bitcoin, abandoning their ASICs and start mining coins scrypt? There are lots of coins which are actually 4,000% extra profitable than mining Bitcoins, whereas Litecoin continues to be 2,800% more lucrative. The interest in GPUs for scrypt mining keeps growing sturdier, with Newegg and Amazon sold-out for lots of latest and much more effective miners, like the 7950.

These newly minted Altcoins may then be traded to Bitcoins utilizing the several accessible Altcoins exchanges. Employing cryptsy's Autosell function enables brand new coins which are deposited into one's account to be sold automatically for Bitcoins. Altcoins may also be properly exchanged to create much more profits. Therefore, why one should ask, are miner still mining cryptocurrency instead of these newer and more lucrative Altcoins? Their faith upon the coin is one thing, betting that Bitcoins worth may outgrow itself. ASIC also can't presently mine crypto currencies that will be exactly what the most of Altcoins derive from nowadays. Many people aren't trading solely for-profit, however, in the expectations of cryptocurrency becoming a completely new global reserve currency. Till then, Altcoin mining with GPUs are lucrative.

About Pandacoin (PND)
Pandacoin (PND), (, based in Antwerp, is a leading provider of PandaBank, PandaWallet and Paper Wallet for storing Pandacoins (a kind of crypto currency). Pandacoin (PND) provides these mining and storing solutions for everyone. A novice miner can mine Pandacoins via web browser or user-friendly PandaMiner.

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City: Antwerp
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