Book Image

Learning Bitcoin

Book Image

Learning Bitcoin

Overview of this book

Table of Contents (16 chapters)
Learning Bitcoin
About the Author
About the Reviewers

Setting up a mining client

After doing the proper analysis of costs and return on investment, one may decide if it's the right time to proceed with setting up a mining operation.


In general, you'll need to have the proper conditions to set up a basic mining operation. To start with, we'll briefly cover the essentials: capital, hardware, facilities, and availability.


Most return on investment calculations for Bitcoin mining show profitability over a period of time, exceeding one year. The assumption made for the projection includes a stable exchange rate and difficulty level. However, these two factors often vary, which can seriously affect the actual profits.

Essential to starting a mining operation is sufficient capital to carry the operation forward. Before starting the venture, make sure you have enough capital to cover the costs for at least 1 to 2 years, based on the various projected conditions.


The purchase of hardware is one of the more volatile aspects of...