What is BitDeer Mining (Beginner’s Guide to BitDeer Mining)

What is BitDeer Mining? BitDeer Mining is a decentralized cloud computing platform that supports real-time data transmission and asset management services for multiple public chains and dozens of digital currencies.

You can find relevant information on the BitDeer official website: https://bitdeer.io/en/blockchain-p2pool?openId=Odaily2018. The product has been listed on major exchanges. Additionally, there is a feature that allows users to invite others to join and have their own unique ID for login, registration, and other operations.

Specifically, account recharge can be done through the following methods:

1) Using Binance Smart Chain; 2) Directly linking the wallet address through the Bitmain official APP or adding it to personal email; 3) Connecting to the Bitcoin wallet.

Beginner’s Guide to BitDeer Mining

With the continuous rise in cryptocurrency prices, the cryptocurrency market is gradually stabilizing. According to BitUniverse data, the current mining difficulty of Bitcoin is about 13T, and the mining revenue has increased more than tenfold within three days.

However, for ordinary investors, the high volatility and instability of digital asset prices pose higher investment thresholds. Compared to traditional hardware devices, computers or smartphones are more suitable for Bitcoin mining, while traditional hardware devices rely more on professional institutions and individuals. Therefore, for beginners, it is important to first understand what Bitcoin mining is.

What is Bitcoin mining? In simple terms, it is a way to increase or decrease the price of a machine through computational power. This process is a way to obtain electricity resources through computational power and generate income. When the electricity consumption increases, additional power is needed to continue mining. This method is similar to the power reserve in the early development of the Internet. However, there are now more and more mainstream chip manufacturers producing products based on this foundation, such as Antminer S19Pro (spot) and Whatsminer M30 series. In addition, many new products are coming to the market. These products include the latest generation of high-performance ASIC miners produced by Bitmain and the new brand Avalon under Bitmicro.

So what is BitDeer mining? In fact, it is using a computer to run a software program: mine a cryptocurrency and package it into a block and then put it on the blockchain to generate new tokens.

For example, if a person holds 1000 BTC (estimated based on the current value of the coin) and you can get one Bitcoin, it will generate a block reward every day. Assuming 1 BTC = 50 ETH, each person will only have 10 trillion tokens, which is equivalent to 2 years.

Of course, it can also be understood that because the Bitcoin network is a very niche network system without any infrastructure support, and the mining cost is low and the return on investment is fast. So for some experienced miners, they may miss out on a good opportunity, especially for those who want to survive in the long run.

Here, we introduce several common methods:

1. Choose to purchase “cloud” graphics cards (used for mining).

2. Download the latest version of the operating code (English name: Windows/Linux).

As shown in the figure, you only need to install a few servers to connect your mining machine to the application; then enter the app from your PC to see how to configure the memory, so as to better understand relevant information, such as how to set up mining nodes and allocate your disk storage space, etc.

Finally, please remember that this is the most basic knowledge. About cloud graphics cards: cloud graphics cards mainly target CPU processors, which are specially designed for users. They are functional GPU dedicated integrated circuit boards (with display effects), memory pools, and other types of applications (such as game developer tools, trading platforms, etc.). The advantages of cloud mining lie in scalability and efficiency.