In the early days of Bitcoin, it was possible to mine the cryptocurrency with a regular personal computer. However, as more and more people got involved in mining, the difficulty of solving the mathematical puzzles that are required to earn Bitcoin increased. This meant that people needed increasingly powerful computers to be able to mine Bitcoin profitably.
These days, it’s not possible to profitably mine Bitcoin with a regular personal computer. Instead, people who want to mine Bitcoin need to invest in specialized mining hardware.
The most popular mining hardware for Bitcoin is called an ASIC (Application-Specific Integrated Circuit). ASICs are specifically designed for mining Bitcoin and are much more effective at doing so than regular personal computers.
The downside of ASICs is that they’re expensive, so most people who want to mine Bitcoin either do so as part of a pool or cloud mining service, or they purchase used ASICs.
NOTE: WARNING: Mining Bitcoin with a 2080 GPU is an inefficient way of producing Bitcoin. The cost of electricity and the heat generated by the 2080 GPU can be high, and the rate at which you’ll mine Bitcoin may be lower than the cost of electricity. Additionally, it is important to note that most mining pools require a minimum hash rate before they will accept your miner, and that hash rate is usually higher than what a 2080 GPU can produce. Therefore, mining Bitcoin with a 2080 GPU may not be profitable for you.
If you’re interested in purchasing an ASIC to mine Bitcoin, one option is the Bitmain Antminer S19 Pro. This particular model has a hash rate of 110 TH/s, which means it can solve the mathematical puzzles required to earn Bitcoin very quickly.
However, it also costs around $4,000, so it’s not an inexpensive investment.
Another option for those interested in purchasing an ASIC is the Innosilicon T3 43T. This model has a hash rate of 43 TH/s and costs around $2,700.
Ultimately, how much Bitcoin you can mine with a 2080 will depend on a number of factors including the model of ASIC you purchase, the current difficulty of mining Bitcoin, and the price of electricity in your area. However, if you have the necessary hardware and cheap electricity, you could potentially earn a decent amount of money from mining Bitcoin.
4 Related Question Answers Found
Bitcoin mining is the process of creating new Bitcoin by solving complex mathematical problems. Bitcoin miners use special software to solve math problems and are issued a certain number of Bitcoin in return. The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
As of October 2020, $20 USD is worth approximately 0.00025 Bitcoin. Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
The RTX 2060 is a great graphics card for mining cryptocurrency. It can mine a variety of coins, including Bitcoin, Ethereum, Litecoin, and Monero. With a hashrate of 24 MH/s, it can generate around $8 per day in revenue.
