|TRIAL MINING||10 min - 150 max||1%||250 days||pricipal Not Returned|
|CLOUD MINING||151 min - 1,000 max||5%||100 days||pricipal Not Returned|
|POWER SUPPLY||50 min - 200 max||105%||1 days||pricipal Not Returned|
|POWER BOOST||201 min - 1,000 max||115%||1 days||pricipal Not Returned|
|Total withdrawal||$ 14756|
|Today deposit||297 USD|
|Today withdraw||12.5 USD|
Bitcoin runs on blockchain, a public, permanent, decentralized ledger where all bitcoin transactions are recorded in bundles of multiple transactions, called “blocks.” The blocks are added to the chain (hence “blockchain”) by “miners” who mine, or verify, the blocks.
Mining requires large, expensive machines that compete to solve complicated math problems in real time. The computations get continuously harder, and so the machines are getting more advanced to keep up, and more expensive as a result. The best ones cost thousands of dollars.
Mining doesn’t require the human being to physically sit and solve those formulas—you can plug it in, download the proper mining software, and let it run; the machine does the work.
As the machines race to do their computations, they burn through a lot of electrical power, make a lot of noise, and generate a lot of heat.
The process is called “mining” because, like the mining of a physical resource such as oil or gold, there is a finite supply: the amount of bitcoins is capped at 21 million. When a miner verifies a block, they receive a tiny amount of new bitcoins as a reward, and that is the only way new bitcoins are created; they cannot be duplicated. So far, 16.8 million bitcoins have been mined, and at the current rate we won’t hit the 21 million cap for over 100 years.
The amount of bitcoin that miners receive as reward also gets halved every four years. That last happened in 2016 and has happened just twice in bitcoin’s history. The current reward is 12.5 bitcoins per block mined.
Thus the increasing amount of power required to mine cryptocurrency is by design: there’s more competition than ever to mine blocks, so the process needs to be competitive to keep the number of newly created bitcoins constant. As more miners join the network, the difficulty of mining increases.
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