Pile of litecoin coins on fabric BTC Keychain / Flickr / CC by 2.0 If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale.

For one, Ethereum is far from scalable, meaning it can’t support many users right now, throwing a wrench in the idea of a 'world computer' that disrupts Google, Facebook and other centralized platforms.Since its inception, there have been questions surrounding bitcoin’s ability to scale effectively.

This is the time when big players started joining the Bitcoin game.The now: ASICThe final (at least for now) method of mining Bitcoins is using the Application-Specific Integrated Circuit. ASIC chips are created with only one thing in mind - to mine Bitcoins.

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