Meet Coinmine – a new cryptocurrency mining device that is aimed at the hobbyist market and is perfect for giving users the option to be paid in Bitcoin. According to the latest cryptocurrency news, this device was aimed at the hobbyist market and is a real breakthrough for many users.
Designed to mine Monero (XMR), Zcash (ZEC), Grin and Ethereum (ETH) at launch, this crypto miner had a low enough difficulty threshold to allow for the average miners to see a minimal return. The recent addition of Bitcoin payouts, however, made Coinmine a lot more popular and gave miners a great incentive to try the $799 ($699 with a special Bitcoin discount) product.
The founder of Coinmine, Farbood Nivi, was featured on many best cryptocurrency news sites for his statement which said:
“To get you the most bitcoin possible from your Coinmine One, we had to engineer MineOS to automatically mine whatever crypto converts to bitcoin at the highest rate and then exchange it to Bitcoin for you and put it in your wallet. This way you’re getting way more Bitcoin than if the device was mining Bitcoin directly.”
The Coinmine box, however, is not designed to make quick millionaires. According to Nivi, it is a testbed and experimental product for those who want to dip a toe in the mining process. Given its strict resource requirements of high stake mining, it offers a less energy intensive option.
“At today’s numbers, your Coinmine One will generate about $15-20/month of bitcoin in USD prices,” said Nivi. “Of course, that number changes based on the future value of Bitcoin. If the value of Bitcoin appreciates, so will the value of what you made with your Coinmine One.”
According to Nivi, Coinmine is also a cheaper and faster way to take part in networks like Lighting. For this, he was featured in the altcoin news several times.
“The time to build and maintain a comparable device with mining and a Bitcoin Lighting Node is about 0 if your time is worth /hour and it takes you 20 hours to research and build the hardware and software,” he said.
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“The parts for a miner and a Bitcoin Lightning Node could cost you $500 easily. That’s $900, and you still would have to control your DIY device from a command line with a monitor and keyboard instead of an app you can just tap on.”
Coinmine will be rolling its BTC update today and users will be able to mine but also “put their crypto into work” as Nivi noted.
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