Currently, the most profitable Vertcoin mining GPU is the GeForce GTX 1080 Ti. Let’s take a look at its specifications:
- Architecture: Pascal
- Memory Speed: 11 Gbps
- Boost Clock: 1582 MHz
- Frame Buffer: 11 GB GDDR5X
We’re going to be looking at the overclocked specs of this card. While the base clocks are still great for mining, you’ll see higher profits when you’ve overclocked the GPU.
Hashrate, Power Consumption, and Profitability (Overclocked)
|PIC||Hash Rate||Power Consumption||Annual Return||Price||Buy|
|73 MH/s||250 W||$2,171.74||$750||View Lowest Prices|
The GTX 1080 Ti has a hashrate of 73 MH/s when overclocked, and a power consumption of 250 watts (also overclocked). This is a pretty good hashrate/power consumption ratio. You’ll see returns of nearly $2,200 per year. Remember, as the value of Vertcoin rises, so do your projected earnings!
Vertcoin Mining Profitability
Currently, Vertcoin mining seems to be quite profitable. In fact, with the popularity of Vertcoin on the rise, it’s probably a good idea to start mining now.
We used a mining calculator to project the annual return of the GTX 1080 Ti. Take a look:
You can use this mining calculator to estimate your own mining performance.
What is Vertcoin, and How Does it Differ from Bitcoin?
Well, to start off, let’s talk about Bitcoin. In the beginning, CPUs were used to mine for Bitcoin. It was quickly discovered that GPUs have FAR more mining power, and they were utilized for mining.
Eventually, companies tried to monopolize mining by designing special hardware specifically designed for mining, known as ASICs (Application Specific Integrated Circuits).
Since the creation of ASICs, the majority of Bitcoin mining is performed by large datacenters. ‘Bitcoin Tycoons’ if you will have giant warehouses in places like China where electricity is cheap. They have hundreds if not thousands of miners working 24/7.
Vertcoin is like Bitcoin, but it has one major difference. The mining algorithm.
Vertcoin is different. It uses a new evolution of Scrypt known as “Adaptive N-Factor”. The N-factor componenet determines the amount of memory needed for mining. It increases as time goes on to prevent the creation of any ASIC.
This is good, as ASICs are bad for the mining community. Most people don’t own, nor will they ever own an ASIC. In fact, once ASICs are developed, most of the mining is done by large mining companies/data centers.
Vertcoin is a financial system owned by its users, not controlled by big mining companies.
Vertcoin Mining Pools
Just like anything else, there’s strength in numbers. Instead of mining on your own, why not team up with other miners and work together?
That’s the basic idea of a mining pool. A group of miners all mine together. Once a blockchain reward is received, (in this case, Vertcoin) each miner receives an equal portion of the work they put in. You’re much more likely to successfully mine if you’re a member of a minig pool.
Here are some mining pools to consider:
We strongly recommend checking out a Vertcoin mining pool. It’s a great way to maximize your earnings.
A Decentralized Cryptocurrency
Vertcoin is decentralized, and was designed to resist centralization.
As mentioned previously, it can’t be mined with an ASIC. Because of this, your average Joe can mine Vertcoin. Each change will be validated by the Vertcoin network which is widely distributed.
The Vertcoin dev team works hard to prevent the creation of an ASIC for Vertcoin. They also want to insure regular GPUs (GTX 1070, 1080, etc.) can be used to mine effectively. This allows the average person to mine, instead of huge
You’ll need to download a wallet to your computer or use a wallet on an exchange like Binance or Bitrex. We recommend downloading your own wallet, as it’s more secure. You won’t have the private keys to your wallet on an exchange. You can read more about Vertcoin wallets here.