Add new comment

Which machine to choose for undermining crypto-money?

Cryptocurrencies have become more and more popular, their usage has become common in recent years. However, it is still complicated to explain carefully what they are, how to generate them, or what they are used for.
This is why the comparison is often made with mining, which everyone visualizes and assimilates. In essence, exploiting an oil deposit or a vein of gold amounts to making a profit. So the question is, what is the gain compared to the activity and especially to the investment? In the case of crypto-money, it is more or less the same problem.

Expenses, expenses, and more expenses

Roughly speaking, we can determine the initial investment by adding up the cost of the machines, the energy consumed, and the maintenance of the extraction system. However, time (which is money, remember) should also be taken into consideration. However, its priceless and objective nature does not allow us to know its precise and accounting value. In any case, with or without the time parameter, the equation is applicable when extracting oil or generating crypto-money.

The difference lies in the method of operation because to extract oil in large volumes, it will be necessary to dig into the sea or the land and build large structures that require a large amount of energy to operate. To mine crypto-money, the investment is much less. However, keep in mind that to get a good hash rate, you will need a computer with a good number of graphics cards and running 24/7.

The investment is not insignificant, it is still necessary to have at least 8 graphics cards, and to count on crazy energy consumption that will impact your electricity bill for sure.

The advantage of renting a dedicated server

The basic investment required is often the cause of failure for manual mining platforms. When you realize you need to increase contract power or invest in GPUs, the accounts can start to get out of balance. Again, the comparison with the extractive industry can apply: Equipment rental and outsourcing of tasks to reduce investments, optimize expenses, and increase profit.
If you decide to rent GPU servers, you will considerably reduce the expenses associated with the hardware, both in terms of purchase and especially in terms of maintenance (hardware and software). Above all, this option will avoid any loss of control over resources or a drop in performance.
The rental of dedicated GPU servers greatly facilitates the work of "miners" starting in mining. However, the greatest advantage remains the control of the budget, especially in terms of power consumption. As all costs are fixed, it becomes much easier to plan a budget and avoid unpleasant surprises at the end of the month.

The dedicated Xeon GPU server

At IKOULA, we know how difficult it is for investment optimization to increase profits in the crypto-money sector. That's why we offer a dedicated server equipped with a GeForce GTX 1070 with an interesting performance/price ratio.
Specifically, we are talking about the power of 6.5 TFLOP, 8GB of DDR5 RAM, and a speed of 1506 MHz. Features combine with the Pascal GPU architecture and reduce the size, which allows us to obtain good results. Add to this an Intel Xeon E3 1230v5 processor with 16GB of RAM and 1TB of the hard disk.
These performances are more than sufficient. However, if the extraction starts to bear fruit and you want to add capacity, you can always double the graphics card, without worrying about the installation, which will be done by our experts.

A few words about Bitcoin

We've talked about the expenses, it's time to talk about the benefits. Firstly, which crypto-money should be exploited? In principle, we advise you to focus on the crypto-currencies that best meet the mining with GPU and offer the best profitability. Due to its popularity, BitCoin is often the number 1 option for new miners, sometimes without considering its disadvantages.
The first disadvantage is its volatility in the markets. There have been countless peaks and sharp declines in its value that have caused some distrust of investors.
Fortunately, the BitCoin is not the only option, many other currencies have entered the market. For example, Monero becomes popular thanks to Microsoft including a BlockChain As A Service project.

The attractiveness of mining pools

The best way to undermine crypto-money is to join a pool, which is nothing more than a network of miners cooperating with each other, sharing the benefits of the blocks. The advantage of contributing to a pool is to increase profits, which are calculated according to the contribution of each miner.
A pool is a form of association comparable to cooperatives. It has long been used by the self-employed, entrepreneurs, or liberal workers to minimize the risks of going it alone. For beginners in mining crypto-money, it is more than recommended to join a pool. Indeed, it is very complicated for a single miner to make his installation profitable in the first year.
Unlike a miner's pool, which has a sufficient hash rate to solve a minimum number of blocks and therefore to make a profit. Even if they are shared, they have the merit of being predictable and therefore project you in the long term. There are many pools, so if the one you start with is not right for you, you are perfectly free to change to try to increase your profits.