What is Browser-Based Mining and How Much Can You Earn on It in 2018?

Mining has attracted an increasing number of people in the last couple of years, but, unfortunately, this sphere remains unattainable for many of them due to the relatively high entry threshold (equipment purchases, maintenance needs, etc.). There is an opportunity for such people to start doing browser-based mining without investing money.

In this article we will discuss the subject of browser mining of Bitcoins and other coins, we will explain how much you can actually make on this and what steps need to be taken to start out.

Contents:
(please, click the topic to scroll down to it)

  1. The main features of browser-based mining, its advantages and disadvantages
  2. How much can you earn on browser-based mining?
  3. Step-by-step instruction for starting browser-based mining
  4. Conclusion

1. The main features of browser mining, its advantages and disadvantages

Web mining involves the extraction of certain coins through software that is located on the site server and uses the resources of the CPU of the user’s computer. It should be noted that this process can proceed both with the permission of the user and without. Some dishonest webmasters use this technique to monetize their site, without informing their visitors about it. This method was quite popular last year, but over time browser developers began to struggle with hidden web mining and the relevance in this dishonest method of enrichment disappeared.

Beginners who want to try out this field can start mining coins in this way. Here there is no entry threshold, therefore, everyone who has access to the Internet can engage in cryptocurrency mining without investing. To do this, you do not even need to install special software on a computer or laptop. It’s enough to register with certain services and open the desired page in the browser to start the browser-mining procedure in 2018.

2. How much can you earn on browser-based mining?

The main disadvantage of this kind of activity is its close-to-nothing profit. The fact is that the performance of the browser-mining script is substantially lower than coin mining through the CPU. If even CPU mining is not particularly relevant and in most cases brings losses, since it does not even pay off the electricity bills, then what can be said about its browser-based “younger brother”?

If we talk about some specific amounts of earnings, it should be noted that they will depend on many factors. For example, browser-based mining of Monero or any other altcoin is much more profitable than browser mining of Bitcoin. It is quite difficult to say web-mining of which particular coin is the most profitable at the moment. It depends on:

  • rate of a coin;
  • total number of miners;
  • computational complexity of the system;
  • etc.

Mining, including browser-based one, has its own specific phases. For example, sometimes it is more beneficial to browser-mine Ethereum, sometimes the mining of Monero will bring you more profit. Even under the most optimistic scenario, profits from this kind of activity are barely enough to pay for Internet. Of course, you can just open the tab and then mind your own business, you can earn an extra penny in this way. Unfortunately, the word “penny” used in the previous sentence is quite accurate. Miracles do not happen, and if you want to engage in mining more or less seriously, you need to buy powerful specialized equipment.

3. Step-by-step instruction for starting browser-based mining

In general, we have already figured out what is web mining and what prospects it has. Now let’s take a closer look at the list of sites for browser mining. It should be noted that this is not a complete list of conscientious services that actually pay coins to their users for web mining. You need to be very careful, because there are a lot of scam projects that promise a good reward, but in the end do not pay a penny. Browser-based mining sites include the following:

  1. FreeBitcoin. It is already clear from its name that this service offers to obtain the world’s #1 cryptocurrency – BTC.
  2. BrowserMine. This service provides an opportunity to set the computing power that will be used for mining, thus, you can decide how much to earn.
  3. Webmining. The functionality of this service does not differ from the abovementioned ones. The focus of the service is the referral system, where you can receive up to 60% of the profits of invited users.

4. Conclusion

To sum up our today’s topic, we should say that web mining exists to this day, and absolutely anyone can do it. To start mining cryptocurrency through the browser, you do not need to have any starting capital or install special software. This is an indisputable plus of this kind of activity. However, earning a decent amount of money using web mining is simply impossible. It should be noted that there are very few trustworthy popular services for browser-mining of Dogecoin, Litecoin, Ethereum, etc. Bitcoin is even less profitable.

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Cryptocurrency Prices Today, September 22: Cryptocurrencies Are Unstable, Ripple Is Still Growing

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, Bitcоin (BTC) lost 0.74% in the past 24 hours. The price at the time of writing is $6652 per coin.

Cryptocurrencies stay both in the red and green zones:

Bitcoin Cash lost 1.70% over the past day and costs $473 per coin;

Ripple added 20.57% and is worth $0.56;

EOS grew by 1.87%, and its price is $5.89;

Litecoin increased by 0.71%, and its cost is $58;

Cardano lost 3.40%, and its value is $0.081;

Stellar dropped by 4.54% and is worth $0.23;

IOTA added 0.36%, and its value is $0.58;

Dash lost 3.3.1% and costs $200;

Monero decreased by 0.33% and is worth $119.

Ethereum added 3.97% over the past 24 hours. The cost of the coin is $235.

The total market capitalization is $221 billion. Bitcoin accounts for 52% of the total volume. It is $115 billion in monetary terms.

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HitBTC Added the Gemini Dollar Owned by Winklevoss Brothers to the Listing

gemini dollar listed on hitbtc

The cryptocurrency exchange HitBTC announced on its Twitter the addition of the Gemini dollar, launched by Cameron and Tyler Winklevoss on the Ethereum blockchain, into their own list of trading positions.

Since September 20, customers of the HitBTC, which joined it this year, can trade with Bitcoin, EOS, Tether and Ethereum in pairs with the Gemini dollar. The HitBTC platform was the first exchange on the cryptocurrency market, which carries out operations with this stablecoin.

We remind you:

OKCoin Adds Five New Tokens to Its Listing

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An American Businessman Purchased a Bentley with Bitcoins

cars keys bitcoin

As we reported earlier, a luxury American car dealership, Post Oak Motor Cars, offered a new payment options for their clients. Besides USD, you can now pay in Bitcoin and Bitcoin Cash.

We remind you:

Fancy Car Lovers Can Now Purchase Bentleys, Bugattis and Rolls-Royces With Crypto

The first buyer was not long in coming. A business owner from Texas, Ken Bridge, bought a Bentley paying for it with BTC.

Bridge is a long-term Bitcoin investor and also a big supporter of the CEO of Post Oak Motor Cars.

I applaud Tilman for making massive strives in Bitcoin consumerism.” he said.

The businessman also mentioned that the blockchain technology and cryptocurrency have a great potential and he will keep supporting them in every way.

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Cryptocurrency Prices Today, September 21: Bitcoin and Ethereum Are in the Green Zone, Ripple Rose by More Than 40%

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coin360, over the past 24 hours Bitcоin (BTC) added 4.51%. The price at the time of writing is $6699 per coin.

Cryptocurrencies are showing positive dynamics:

Bitcoin Cash added 12.86% over the past day and costs $480 per coin;

Ripple added 41.76% and is worth $0.46;

EOS grew by 10.57%, and its price is $5.78;

Litecoin increased by 7.14%, and its value is $57;

Cardano added 16.18%, and its cost is $0.083;

Stellar gained 18.71% and is worth $0.24;

IOTA grew by 9.16%, and its value is $0.57;

Dash added 7.83%, and its price is $205;

Monero increased by 7.28% and is worth $119.

Ethereum added 8.43% over the past 24 hours. The cost of the coin is $226.

The total market capitalization is $217 billion. Bitcoin accounts for 53.2% of the total volume. In monetary terms, this is $115 billion.

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Mining Complexity: What It Is and Where It Will Get

mining complexity

Not long ago there was a real gold rush around cryptocurrency mining – thousands of people started digging digital rock to get the precious digital gold, while its rate was beating all records and surpassing all expectations. It all started from simple mining on users devices – laptops, personal computers, tablets, etc. – and turned into a complicated industry with a developed infrastructure. Mining pools appeared, specialized equipment (ASIC-miners) was produced, huge mining farms were set up, where mining was conducted on an industrial scale. Mining even partially switched to the cloud – services appeared that offered cloud cryptocurrency mining without any investments, except for financial ones. Although mining has not changed the structure of the world economy, it is nevertheless not an ordinary phenomenon. The fact that currently cryptocurrency mining consumes more electricity than many countries is a case in point.

Today we will talk about what mining complexity, its function, how it changes, what it depends on and how can it set the tone for the entire cryptocurrency mining industry.

Contents:
(please, click the topic to scroll down to it)

  1. Brief review of mining
  2. Complexity: how it changes and what it depends on
  3. What will happen to mining in the future
  4. Conclusion

 1. Brief review of mining

Mining actually means making computational operations to decode a certain algorithm and find its hash. Every mineable cryptocurrency is based on a particular hashing algorithm. When the algorithm is successfully decoded, a new block is added into blockchain, a new coin is issued and miners get their rewards. Many popular digital currencies can be issued only through mining, these are Bitcoin and its forks, Ethereum, Monero, Litecoin, Dash, Zcash, etc. Some, however, are pre-mined and do not provide mining opportunities, like Ripple, NEO, NEM, EOS, Tether, etc.

Depending on hash features, different equipment can be used to mine different digital currencies. Initially all mineable coins, including BTC, were mined on users devices (PCs or laptops) using CPU. Today it is not that common and there are a few popular coins that still provide such type of mining. Soon CPUs became not enough to profitably mine digital coins and miners started using graphic cards to cope with more resource-intensive calculations and growing complexity.

Later the specialized equipment appeared on the market – ASIC-miners that are used today to mine Bitcoin, as well as other coins, such as Litecoin, Ethereum, Dogecoin, Zcash, Bitcoin Cash, Litecoin, etc. ASIC is a specialized microchip that performs calculations much faster than graphic cards. Although ASIC today is mostly associated with mining, the technology itself was developed in early 1980s to advance graphic performance of PCs. Besides, miners create pools where they combine their processing power to make mining more efficient for the whole group. The reward for the created block is then distributed depending on the processing power provided by each pool member.

There is also another mining solution – cloud mining. Graphic cards and ASIC-miners are rather expensive, more and more of them are required to mine profitably. The equipment needs space to be placed, has to be connected to the power grid, cooled, cleaned, repaired, set up, monitored, etc. Cloud mining implies leasing of computing power from companies that manage large mining farms and data centers. In addition, cryptocurrency is mined in other sometimes even illegal ways. For example, your computer can be infected with a hidden virus-miner that uses its resources to mine a particular coin.

2. Complexity: how it changes and what it depends on

Complexity indicates how difficult it is to find hash. The specified hash parameters determine how difficult calculations should be to find it. The more users are there in the network and the more cryptocurrency is mined – the higher complexity is. Bitcoin complexity is reviewed every 2016 blocks (about 2 weeks) and depends on how much time was spent to mine previous 2016 blocks.

What is the function of complexity? Bitcoin is designed to add every new block in  10 minutes on average. This can differ from one cryptocurrency to another (2.5 minutes for Litecoin and up to 20 seconds for Ethereum). The amount of processing power in the network can drastically change over time – when Satoshi Nakamoto mined the first BTC, there was only one device in the network, probably a laptop or a PC. Today we have huge industrial farms with thousands of special mining devices.

To ensure the stability of the generation of new blocks, cryptocurrency software automatically makes it more or less difficult for miners to find hash. So if there are more miners and the computing power of the network increases, it is more difficult to find hash. If the power decreases – it becomes easier to make all necessary calculations. This is the way the system remains sustainable – no matter how much processing power is their in the network it will still take around 10 minutes to generate new Bitcoin block. In early 2010, Bitcoin complexity was just a little bit above 1, while in 2013 it was already 3 million. Today it has already exceeded 7 trillion.


Source: BitcoinEnergyConsumption.com

So, every 2016 blocks (about every two weeks), Bitcoin corrects its complexity, so that each block is generated in approximately 10 minutes, regardless of the number of miners in the system. Other mineable cryptocurrencies has the same role for complexity and it is implemented in a similar way.

3. What will happen to the mining in the future

Mining is no longer the same as it used to be – says… everyone. While some digital currencies can still be mined using PCs, it is rather difficult to join the “extraction” of most of the leading coins. To start mining Bitcoin today you should have… started mining Bitcoin a few years ago. The same thing is happening to other digital currencies, and ASIC-miners are to blame in fact. They are able to make calculations way faster and more efficient and wherever they enter the mining market, the total complexity increases and CPU/GPU-mining retires. However, some still manage to make money out of mining. There are still those coins that are not mined using ASIC-miners, which means one can still mine them on average laptops or PCs.

Anyway, one thing is clear – today, mining is no longer stands for easy money, and the market is being taken over by large, “professional” miners, who mine digital coins on an industrial scale. Industrial mining is associated with a whole range of logistics, legal and resource issues. Until recently, most of Bitcoin miners were located in China, but last year the government banned ICOs, cryptocurrency trade and mining. Another thing is energy consumption. Calculations require a lot of electricity, so the miners are looking for countries with lower power prices.

 

Source: BitcoinEnergyConsumption.com

Another problem is obsolescence of equipment. Many industrial miners have found out, that the hardware they used to mine BTC 2017 cannot ensure the same profit in 2018.

So, mining becomes less profitable and new members have no chance to join the market easily. This lead to the fact that mining of top coins becomes way less popular. Not mineable coins, as well as those who still provide available mining can take advantage of that. For example, in 2017 there was a boom for mining browser extensions (like Coinhive). Of course, browser-mining of Bitcoin or Ethereum sounds rather weird, but there is another relatively popular coin – Monero – that still provides such an opportunity.

4. Conclusion

So, complexity is one of the key categories that form a technical structure of mineable cryptocurrencies. Written in the protocol, it helps blockchain to remain sustainable in terms of the time necessary for the generation of new blocks. Complexity directly depends on the number of miners in the network and, accordingly, on the total processing power. Most of the leading cryptocurrencies have already became much more difficult to mine and this is obviously an ongoing process. There are more users, more special equipment and more professional industrial-scale miners which make mining unavailable for average users.  

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OKCoin Adds Five New Tokens to Its Listing

okcoin adds five new coins

To continue our today’s topic related to crypto exchanges, we wanted to inform you about the changes in the listing of the exchange OKCoin. OKCoin is currently occupying the second position of the CoinMarketCap rating. A couple of days ago, the management of the exchange introduced 5 new digital assets:

The newly added cryptocurrencies include:

– Ripple

ZCash

Cardano

– Stellar lumens

– 0x

The CEO of OKCoin seems pretty excited due to this event.

We are very pleased to welcome these five new cryptocurrencies and all of the communities that trade them,” he said.

We remind you:

Bittrex Adds Two New Coins: XRP and ETC

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