There has been a new mining software released that helps you to earn small amounts of Bitcoin by using your very own Windows laptop. This will help to try and give users the chance to get a taste for the world of cryptocurrency and it also helps them to expand their own knowledge base as well. Those who mined cryptocurrency in the early days will remember more than anyone how PCs were once used but now the times have changed and this is no longer the case. It has been revealed that a New Jersey based mining service called Honeyminer has actually gone ahead and launched their beta. They did this in June and that they have also reached a total of 10,000 downloads across the globe as well. The best thing about Honeyminer is that it gives users the chance to participate themselves in a dynamic mining pool. This is actually run across the app and it all happens when the graphic’s processing unit is in use. The pool focuses on ETH, ZCash, Monero and other GPU related currencies. At the end of the session, Honeyminer then sends any earnings that the participant has and it converts them into a currency. This is then sent to the wallet of the user. The miner doesn’t have to try and work out the math and it doesn’t even have to work out any of the configuration settings as well. Nothing has to be done manually and nobody has to check the prices either. The advisor for Honeyminer has advised that this could be the next big thing for the world of cryptocurrency.
They have made it so any surplus compute could be used. They have made it so that the laptop that is being used give you the chance to work your way up and that everything is being done in the most profitable way as well. The service offers a ton of new opportunities for those who want to try and acquire Bitcoin but they don’t have too much money to invest on the exchange. It could even broaden the range of the money that can be invested and the amount of people who have an interest in the market in general. As time goes on, it is becoming more and more expensive to try and gain access to the exchange and all of this is because hardware upgrades are required. You also have to pay more because the hardware is a specialist when it comes to cryptocurrency mining and they have really spread over the years. The algorithm has the ability to change between one currency and another every 10 minutes. This depends on the block size and if there is a change in the profitability then people would know. They are all trying to pool together so that they can mine a block reward faster than ever before. Together they believe that they have a much larger hash rate and that they also have the ability to connect you right to the blockchain as well.
This isn’t the best or even the most profitable way for you to mine cryptocurrency and this is especially the case when you look at how volatile the market can be. The cut depends on the quality of the user’s hardware and someone who had a few high-end computers could easily expect to run a dollar or two if t ran every day. This however may be one of the easiest ways for you to earn Bitcoin. The company have yet to come out to say how many users are in nations where the idea of cryptocurrency is restricted. Of course, it’s important to know that this is great for those who want to learn. It gives them the chance to go out and earn real money and play with real cash, and the best thing is that it is free to download the program.
Honeyminer has a software and this was actually inspired by one of the controversies that came from Bitcoin mining. The way that people used software was not looked upon as being a good thing and everything quickly spiralled out of control. The team over at Honeyminer chose to sit and watch Bitcoin and they also saw that it was in fact an arms race to try and develop the custom hardware. They then watched as those who had the best silicon tabs often got control of the mining. The team at Honeyminer however want to make sure that those who have access to the software are in fact benefiting without having to have a crazy high-end GPU.
CEO of Nebulous has stated that the mining equipment probably won’t change the bigger picture. It will just attract those who are newcomers and other than that, it really won’t have an impact on the way tat things work. It also won’t work as there are no plans to try and extend upon the API in the future. This really has increased centralisation because at the end of the day, all you have done is moved the power from the pools, to those who have a good software toolkit. Now, the power has been taken away from the users and it lies with those who are able to develop and tweak the software to achieve better results. The CEO has also come out to say that the idea of running a GPU for mining software will be completely devoid in the next couple of years.
He even said that there are going to be a lot of general purpose ASICS coming out soon and they are in fact going to have the ability to try and target algorithms. For better or even for worse, the team over at Honeyminer knows that they are going to have to offer additional resources and even features if they want to compete for the future. Honeyminer needs to be able to send new users their Bitcoin wallets from other providers and this could include miners as well. It doesn’t matter whether there is a cheap laptop or even a professional rig, because at the end of the day every single computer will be given a different task. This will depend on the computer’s own capability and you will even be able to get told what it is going to be most profitable for. Now it’s important to know that there is in fact a specialised version out there called Honeyminer Pro and that this works for professional miners who want the power consumption but with the ability of choosing what they mine.