7 myths about mining that didn't let you get rich
Myths about mining don't stand up to scrutiny.
Whoever mined in 2010 today is driving Ferraris and drinking cocktails in the Bahamas! Okay, okay... Maybe we're exaggerating a little bit. But the fact remains that if you had mined all of 2010 on your home computer*, you would have made at least 150 bitcoins.* And today they are worth **7 000 000 $!
Who could have predicted that kind of growth? Nobody of cause. And who can guarantee that it won't happen again? Nobody either!
A year of mining on a home computer has turned some people into millionaires.
Five years ago, people laughed at the miners. Now they regret this.
Cryptocurrency is evolving, bitcoin is growing steadily, and blockchain integrates into everyday life. The myths about mining do not stand up to scrutiny. Mining is profitable in both the short and long term.
Start mining today so you don't have to regret tomorrow!
In the meantime, we'll dispel the top 7 myths about mining!
1. My computer will burn down? 😨
Of course not — computing while mining is no more dangerous than playing computer games. The leading cause of component failure is temperature fluctuations. During mining, there are simply none! This is because the video card and processor are under an even load, which cannot be reached during gaming. You can read about the temperatures in our article.
Mining safer than gaming.
Hot doesn't mean bad. The graphics card won't burn down even if it gets up to 90 degrees.
2. Mining is illegal ⚖
No, mining is not forbidden by law!
All rumors about bans are media noise and sensationalism.
Only a few countries have laws banning industrial mining. And even fewer have been prohibited from domestic mining.
3. I will have no warranty because of mining ✋🏻
No store has the right to deny warranty service for a video card if it was mining.
Mining is just mathematical operations performed on the video card. The same procedures are performed while playing games. The result of calculations is a picture on the screen, not a cryptocurrency block. In this case, stores would give refusal video cards used for playing games. That's nonsense, don't you agree?
Mining is no different from video games.
You can only get a warranty denial if you have reflashed the BIOS. But if you restore the original BIOS before returning the video card to the store, no one will notice anything 🤫 Read more about this in our article.
4. No one will buy a video card after mining 💸
There's nothing wrong with a video card's mining past. On the contrary, it's defect-free and will work stably for years to come.
- The main reason for video cards to break down is temperature fluctuations. And in mining, there are none! The miners' card temperature stays on the same stable level.
- External factors: dusty and humid environment. Animal hair and improper installation. — Miners constantly monitor their video cards because it is their profit. A miner makes sure the card doesn't overheat, get dusty, or sag under its weight. — Most gamers don't keep track of the state of their hardware. Cards get covered in dust and are only cleaned before they are sold. Video cards don't die from mining. They die from improper use.
If the card was mining in the past, it is more advantageous than disadvantageous.
5. ASIC mining is more profitable
ASIC miners are special equipment that is designed only for mining. Of course, they bring more profit than ordinary video cards, but they are also several times more expensive. In addition, the payback period for ASICs is the same as for graphics cards - 12-16 months.
One day your ASIC will turn into a pile of scrap 🎃
Many coins deliberately block work on ASIC hardware to avoid centralization. So there is a risk that your ASIC will stop working one day, and it will be impossible to sell it in that case.
6. Large miners have conquered the market.
Yes, it takes entire hangars of mining equipment to mine big coins like Bitcoin. Miners with enormous computing power control these coins.
However, new alternatives to bitcoin (altcoins) are constantly appearing on the cryptocurrency market. We use these at Kryptex so that even home hardware can be profitable.
7. Mining is complicated! 😯
It is necessary to set up miners, choose a pool, register a wallet and transfer cryptocurrency yourself.
No! Mining is three clicks of your mouse. Download Kryptex and check for yourself.
We've made mining as easy as possible:
- Kryptex selects the most profitable algorithm for your computer.
- Just watch your balance growing up!
- Withdraw immediately in USDT, dollars or euros.
Any doubts left? Contact us, and we will solve any problem!
Ask questions in the Kryptex communities on Discord and Telegram: Our experienced users exchange experiences and help each other in difficult situations. Discuss overclocking and firmware, and share your ideas!
Or write to the Kryptex directly: 💪🏻