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In 2023, is it suitable to use miners to mine or buy coins?

In 2023, is it suitable to use miners to mine or buy coins? In recent years, with the increasing popularity of blockchain technology and the rapid development of digital currency, more and more people have joined the team of mining and buying of coins. In 2023, for most people, choosing to use a miner to mine or buy coins will be a critical decision. Advantages and disadvantages of miners High power consumption, high cost, and high technical requirements are the salient features of miners' mining. But at the same time, miners also have a stable income from mining and have the advantage of controlling the speed of block verification. Here are a few viable Bitcoin miners and their profitability in 2023. Antminer S19 Pro is a miner produced by Bitmain , which is very popular in the market. It is equipped with 114 BM1398 ASIC chips , which can achieve a faster and more stable mining experience. It is estimated that the average daily income of this type of miner in 2023 will exceed 120

What are the prospects for Ethereum mining?

What are the prospects for Ethereum mining?

In 2021, the entire ecosystem of Ethereum will remain thriving in all aspects, and the overall market value will be significantly increased. However, the increase in mining difficulty and the economic downturn brought about by the new crown epidemic have also left their mark on this industry. Mining was very simple in the early years when digital currencies were not well-known. Some people could mine thousands of digital currencies a day. Looking at this amount now, the total value can be imagined. So what do we need to know about mining? In this mining industry, where gold is everywhere, how can we improve our cognition to obtain the wealth that belongs to us?

1. Analysis of the status quo of the mining industry

1) Electricity
More and more electricity will be year-round, and compliant electricity will be one of the central competition cores in the future (miners and professional operation and maintenance are the other two core competition factors). Even if the electricity price is low during the rainy season, there will not be a single big mining company that only mines in the rainy season. The annual electricity will be the main battlefield in the future.
2) Miners
Only people or companies with miners can dominate, which will change mining in the future. As the currency price rises, significant capital will directly cooperate with manufacturers when entering the market and will not go through the distribution channels of manufacturers. At this time, direct cooperation with manufacturers will control miners' liquidity. Therefore, investors can achieve win-win results only by cooperating with resource parties with miners.
Innosilicon A10 PRO
Innosilica A10 Pro is a miner that uses the Ethash algorithm for ETH mining. The official hash rate is 500MH/s (±5%), and the power consumption through the wall is 860W (±10%). Innosilica A10 Pro Ethash Algorithm Miner is a new version of A10 with 5G memory. It will continue to bring you the best mining experience with an unrivaled hashrate.
3) Professional operation and maintenance
After mining is scaled up, a professional team is the third core competitiveness. At present, the technology of miners tends to be stable, and technological breakthroughs in the short term will not undergo revolutionary changes. Only make a fuss about the operation and maintenance of the mining farm. From the design and construction of the mining farm to the operation and maintenance of miners to the security of the hash rate, there is an excellent opportunity to change.

2. Why do traditional people enter the mining industry (policy opportunity)?

1) Broad prospects
Some institutions pointed out that the digital economy has broad prospects. Emerging digital formats such as artificial intelligence, big data, blockchain, and cloud computing will usher in a new investment round. The focus of development will shift from digital industrialization to industrial digitalization. Leading enterprises are focusing on the increasing layout. Professionals believe blockchain will become another infrastructure for the digital economy after the Internet, big data, and artificial intelligence, and blockchain technology will create a new foundation of trust for the digital economy era.
2) Three circles of digital currency
Due to the rise of digital currency in the past two years and the country's emphasis on the development of blockchain technology, more and more people want to invest in digital currency mining. Then there are three circles in the blockchain: the mining circle, currency circle, and chain circle. Chain Circle: the representative of technical professionalism. The threshold is higher than the other two circles, mainly focusing on the development and application of blockchain technology, so it is difficult for ordinary people to step in. Currency Circle: It can be said to be the most colorful circle. Focusing on speculating on encrypted digital currency, it is the circle with the lowest entry threshold among the three circles but is high-risk, high-income, and unstable. Mining circle: It is the circle of a group of people who focus on "mining." It is a behavior to obtain virtual currency rewards. Those who participate in mining are called miners. In summary, the mining circle is the most stable physical investment in the digital currency industry. It is precise because of its stable and lasting income that more and more traditional people have entered.

3. How big is the prospect of Ethereum mining

1) From the primary data point of view
By the end of 2020, the price of ETH has risen from $129 to $753, an increase of 4.8 times. Ethereum is already hitting new highs in 2021, with ETH outperforming significant assets like BTC, gold, and the S&P 500.
2) From the point of view of the transfer
In 2020, the number of transfers surged, from an all-time high of 250 million (2018) to 345 million, an increase of 38%. The Ethereum economy has grown in breadth and depth! Focusing on 2020, we see an upward trend in data almost every month. The only exception was a dip in September during the “Liquidity Mining” boom.
3) From an ecological point of view
With the increasing attention to Ethereum, DeFi and other things related to Ethereum have also begun to attract attention, and mining is one of them.
When it comes to mining, the most talked about is Bitcoin mining. However, Ethereum mining also uses miners like Bitcoin, and its consensus mechanism is also POW, so Ethereum mining is also a hash rate competition. But unlike Bitcoin, to prevent Ethereum mining from becoming monopolized by ASIC miners like Bitcoin mining, the Ethereum team added some special processing to the mining algorithm to prevent mining from becoming pure hashing rate competition. And it is this detail change that has led to Ethereum mining in a very different way than Bitcoin mining and using very different equipment.
To sum up, the threshold for Ethereum to participate in mining is low, and it is in a price bonus period, and the currency price is more promising in the future. Therefore, it will become the first choice for ordinary people to participate in the mining industry.


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