Bitcoin Mining, Ethereum Mining, Cloud Mining: 2016 Overview

Bitcoin saw a surge in price between March 2015-2016, bringing back profitability to mining. Is it a good time to start mining again?
In the old days, gold needed to be dug out of the earth which required a lot of effort. Things have not changed much since then, someone still needs to make an effort to create ‘wealth’.
When it comes to cryptocurrencies, they need to be mined as well. This mining is computational and is done by specialised computers that solve very specific math problems. In the case of BitcoinCT r: 8, only a finite number of them will ever exist – 21 million. So it is possible to solve these math problems, and receive Bitcoin in return till this number is reached.
Of course, there is always a catch, and the catch with mining is that the machines used to mine cryptocurrencies require a lot of electricity, and that is an expensive commodity.
What makes Mining Profitable
Mining profitability is a variable and depends largely on the type of mining software you own, the cost of electricity in your locale, the current price of the cryptocurrency you are mining and, of course, your own overheads.
We looked at some mining equipment on the market and compared how they stacked against each other in terms of price, performance and potential profitability.

This post was published at Coin Telegraph on 2016-03-30.