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Bitcoin Mining - What Is It And Is It Profitable In 2018? A Beginner's Guide

Bitcoin Mining - What Is It And Is It Profitable In 2018? A Beginner's Guide

Last updated on November 24th, 2017 at 08:12 am Before we start, if youre new to Bitcoin mining and dont know what it is watch this short and simple explanation: The short answer would be It depends on how much youre willing to spend. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors. In order to find out Bitcoin mining profitability for different factors mining profitability calculators were invented. These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit. Before I give you a short example of how this is calculated lets make sure you are familiar with the different variables: Bitcoin Mining terms you should get to know Hash Rate A Hash is the mathematical problem the miners computer needs to solve. The Hash Rate is the rate at which these problems are being solved. The more miners that join the Bitcoin network, the higher the network Hash Rate is. The Hash Rate can also refer to your miners performance. Today Bitcoin miners (those super powerful computers talked about in the video) come with different Hash Rates. Miners performance is measured in MH/s (Mega hashper second), GH/s (Giga hash per second), TH/s (Terra hashper second) and even PH/s (Peta hashper second). Bitcoins per Block Each time a mathematical problem is solved, a constant amount of Bitcoins are created.The number ofBitcoinsgenerated per block starts at 50 and is halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 12.5. The last block halving occurred on July 2016 and the next one will be in 2020. Bitcoin Difficulty Since the Bitcoin network i Continue reading >>

What Is The Algorithm To Create A Bitcoin Mining Calculator?

What Is The Algorithm To Create A Bitcoin Mining Calculator?

I want to know how I can calculate the profit of bitcoin mining in bitcoins. I am interested in the formula that is used by calculators. For example lets say I have 700mh/s hashrate, current difficulty is 908350862,437. The calculator says I will mine 0.00038755 BTC per day. What algorithm is used to calculate these figures? Check out this answer: bitcoin.stackexchange.com/a/135/5406 Murch Dec 12 '13 at 21:33 where I can fine the current block reward ? user1761818 Dec 12 '13 at 22:04 Current Block Reward is 25BTC, it will be 12.5BTC starting with after Block 420,000. Check out BitcoinClock Murch Dec 12 '13 at 22:23 The average time to find a block can be approximated by calculating: Where difficulty is the current difficulty, hashrate is the number of hashes your miner calculates per second, and time is the average in seconds between the blocks you find. Why is this formula just an approximation? I don't see any other parameters which could possibly have an effect on the result (at least if both difficulty and hashrate are constant, of course). jnnk Dec 13 '13 at 14:49 It is an approximation because mining is a game of variance and luck. There are times that you could get lucky and generate more blocks than predicted and there will surely be dry spells when blocks do not occur. This can be seen by watching large mining pools as they solve blocks, blocks are not created on a set schedule by any means the network adjusts such that one block should be generated every 10 minutes, but we know that this will need to be adjusted regularly based on new miners coming online all the time. The network hashrate and thus the difficulty will be regularly changing. Mark S. Dec 14 '13 at 2:46 That's why the formula can only give an average time. Still, even formulas for averages can b Continue reading >>

Whattomine - Crypto Coins Mining Profit Calculator Compared To Ethereum

Whattomine - Crypto Coins Mining Profit Calculator Compared To Ethereum

Using below table, you can check how profitable it is to mine selected altcoins in comparison to ethereum. Please note that calculations are based on mean values, therefore your final results may vary. For best results fill all fields with your hash rate and power consumption. Input Groestl hash rate, not Myriad-Groestl. Default values are adapted for three 480 cards. Continue reading >>

Bitcoin & Cryptocurrency Mining Contracts | Genesis Mining

Bitcoin & Cryptocurrency Mining Contracts | Genesis Mining

Its hard to review anything when not possible to use it yet due to purchasing with a credit card, but once I am able to use it I will update my review Been sold out of contracts for a while now and Im exited to have finally copped one before theyre gone. So happy for the wonderful opportunity to buy another Ether Contract. I love it - Thank You While we think that Ethereum may turn to POS in the coming future, we have a fantastic future to mine it at a profit with Genesis Mining. If it DOES go to POS instead of mining, then we can move to a variety of alt coins that are nearly as profitable and every bit as much fun. Give Genesis Mining a go and see why it is better than buying coins directly. I think that my purchase was a good thing. And this thing will bring me a lot of benefit. I expect to have a good return for this investiment. Finally the mining contracts are back. It's harder and harder to find mining contract and the Genesis Mining ones are the last decent ones around. Most of them will never payback. I'm using Genesis for 1 year right now and satisfied. Zcash cash priceis riseing, so this pachage is quite profitable, better than buing your own mining sistem at home. Even if PoS starts, there are alternatives.Because I heard that the reputation is good, I have decided mining for the first time as GenesisMining.I am looking forward to April when mining starts. I have bought the etherium and bit coin for the last two years.I am very excited and am very pleased to see the benefits.I have been informing others a lot and invested a lot of people.If I have a chance, I would like to invest and recommend more. I have ETH contract with Genesis for 2 years and one with same Hash rate with a competitor but 1 year contract. Genesis has consistently paid out more than the Continue reading >>

Bitcoin Mining Profitability Calculator (+ Beginners Guide To Mining)

Bitcoin Mining Profitability Calculator (+ Beginners Guide To Mining)

Instructions on how to use the Bitcoin Mining Calculator: Enter the hash rate of the Bitcoin miner youre planning to use Note: If some values in the Bitcoin mining calculator dont seem right (exchange rate, block reward, etc.) you can adjust them manually. However normally they are all up to date. Revenue is shown in USD based on the current exchange rate, the exchange rate can (and probably will) change from time to time. Revenue is based on current difficulty to mine Bitcoins. Difficulty can (and probably will) change. From past experience it usually goes up as time goes by. Revenue IS NOT profit. You still have to take into account the cost of your mining hardware and the electricity to run it (and cool it down if needed). If you want to know more about Bitcoin mining profitability check out this page . How to Calculate Bitcoin Mining Profitability Bitcoin mining secures the Bitcoin network. Without miners, Bitcoin could easily be attacked and even shut down. Since Bitcoin miners provide such an important service to the network, they are paid for their services! Each block mined by miners contains a block reward, which is paid out to the miner that successfully mined the block. While mining today is very competitive, it is possible to run a successful and profitable mining farm. This post will outline the many factors that will determine whether or not your mining operation will be profitable. The upfront costs to pay for mining hardware is usually the largest expense for any new mining farm. Just like good computers cost more money, good mining hardware is expensive. The Antminer S7 is one currently the most efficient miner and costs $629. It only mines about $200 worth of bitcoins per month, meaning just based on hardware costs alone it will take more than three m Continue reading >>

What Is Cryptocurrency Mining

What Is Cryptocurrency Mining

Cryptocurrency: the money of the future. If you are familiar with Bitcoin, you may already have a grasp of what a cryptocurrency is and what cryptocurrency mining entails. If not, were here to give you a quick lesson! Cryptocurrencies are, simply put, a form of digital currency where limited entries are stored in a database that cannot be edited unless specific criteria are met. Think of cryptocurrencies like dollars in a bank: your dollar bill will not rise or fall in face value and the number of dollars in your bank account will not change unless you withdraw or deposit them. Their hidden value may change with the rise and fall of markets, but the face value will remain the same (think of foreign exchange rates). So what is cryptocurrency mining? Think of it the same way you think of earning and saving money. You are mining the cryptocurrency supplies to add individual forms of cryptocurrency to your wallet (or digital wallet, as it may be). The most common form of cryptocurrency mining and the form addressed in this article is the mining of scrypt coins. By providing bookkeeping services to the cryptocurrency network, you are paid in fractions of cryptocurrency that can add up to significant amounts over time. Because you are providing assistance in the form of verifying transactions, you are privy to earning rewards. For a single individual, cryptocurrency mining can be something of a hobby or a fun way to earn small amounts of currency over long periods of time. The concept is very similar to low-risk investing by purchasing fraction shares on the stock market. If you are looking to make more profit by cryptocurrency mining, you would have to join a group of similar-minded individuals planning to pool together the groups earned cryptocurrency and divide it evenly Continue reading >>

Cloud Mining Calculator

Cloud Mining Calculator

Cloud Mining calculator estimates the profitability of cloud mining contracts for services like Genesis Mining and HashFlare, taking into account potential difficulty and price increases. WARNING: Any cryptocurrency investment, cloud mining in particular, is high risk. Do NOT invest money you can't afford to lose. Optimistic Prediction15% difficulty increase monthly10% price increase monthly Skeptical Prediction40% difficulty increase monthly8% price increase monthly Zcash (ZEC)Current difficulty: 8.63MMining starts in 33 days This calculator is similar to other mining calculators, but is more user-friendly for cloud mining, taking into account known fees automatically (such as daily charges for Bitcoin contracts & pool fees), and comparing current profitability on one page. We also provide optimistic/skeptical predictions for return on investment over 2 years based on current difficulty & fiat prices (updated every hour). Remember that these are predictions, not facts. Factors that we're not aware of may change these calculations, making profitability far higher or far lower. Never invest money you can't afford to lose. All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice. We encourage you to consult your own legal & financial advisors before making any cryptocurrency-related purchase. 2018 Anything Crypto Ltd, Registered in England, 149/151 Sparrows Herne, Bushey Heath, Herts, WD23 1AQ, England Continue reading >>

Mining Rig Builder And Profitability Calculator - Eth | Outervision

Mining Rig Builder And Profitability Calculator - Eth | Outervision

Ethereum (ETH) Mining Rig Builder and Profit Calculator OuterVision Mining Rig Builder and Profitability Calculator provides computer part selection, compatibility, and pricing guidance for do-it-yourself Ethereum cryptocurrency mining rig builders. What makes us different? Besides the largest and most accurate power consumption database, we provide a comprehensive mining rig parts compatibility guidance, up-to-date pricing, and profit calculations for mining Ethereum cryptocurrency. Combined with precise power supply efficiency data, OuterVision Mining Rig Builder can accurately calculate a true power cost of your Ethereum mining rig and recommend the best bang for the buck power supply for your build. Disclosure: Ethereum mining profitability results are calculated based on a network hash rate GH/s and do not account for difficulty or exchange rate fluctuations and a pool's efficiency. If you are mining within a pool, the estimated Ethereum profitability can vary depending on the pool's efficiency and fees. GPU hash rates used for calculations are gathered from online sources or submitted to us by mining enthusiasts like you. Actual results may differ from the ones listed in Ethereum Mining Rig Builder. Continue reading >>

How To Calculate Mining Profitability

How To Calculate Mining Profitability

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series Are you serious about mining cryptocurrencies? If so, you need to know how to make the best use of your money and equipment. In this guide, well show you how to mine your digital treasure in the most profitable way. Obviously, the big money is going into costly bitcoin ASICs. If you arealready in that position, you probably know how the process works and are intending to mine bitcoin. However, those of you on a more moderate budget are probably looking at building a GPU miner for scrypt currencies, or a buying a small ASIC machine for bitcoin or other SHA-256 currencies. In that case, you have come to the right place. The process of mining digital currencies involves solving complex cryptographic puzzles. By doing this, miners are providing proof of work that is rewarded with digital currency. Broadly speaking, there are two proof-of-work hashing algorithms in use today: SHA-256 and scrypt . Note that there are some lesser-used alternatives, which we will not be looking at in this guide (for example, Primecoin ). The SHA-256 algorithm favours raw processing power. In bitcoins very early days, one could mine effectivelywith the CPUs and GPUs (graphics processing units) that you find in a normal home PC. That time has passed, however, and the difficulty level of bitcoin is so high that specialised processors known as Application Specific Integrated Chips (ASICs) are needed to mine it. The use of such powerful processors, alongwith bitcoins exponentialincrease in difficulty level,have created a technological arms race, which means that even quite recently designed chips can quickly become obsolete. The scrypt algorithm favours greater amounts of RAM and parallel processing ability, which is why GPU-based ri Continue reading >>

A Better Mining Calculator - The Miners' Union

A Better Mining Calculator - The Miners' Union

The current mining calculators are linear. By our observations, the key drivers to projecting mining profitability exhibit exponential behavior. A better model is needed. Were not claiming our model is perfect but its better than a linear projection. So if you use any of the other popular mining calculators, you punch in your miner details and it tells you how much youll make today given your contribution to the global hash rate. Then in multiplies it by 7 to get a weekly projection. By 30 for a month. By 365ish for a year. Those pictures start to look real rosy, especially during a paradigm shift when a more efficient piece of hardware is introduced and the calculator says to you, I know theres no such thing as a get-rich-quick scheme but this ones for real!. This isnt to say that mining isnt profitable. It is. Wildly. But a better method is needed to more accurately project what a miner will make such that one can make more accurate plans. The premise of our model is that there are three primary driving variables to the amount of value produced by a miner: hash rate, the global hash power, and exchange rate. Hash rate is an independent variable. Its supplied by the user and represents the individual hash contribution (per second) that the miner contributes to the global hash rate. The global hash rate is the sum total of all miners focused on finding a block for a given network at a given time; the total sum of all of the individual hash rate contributions. The foreignexchange rate (hereafter fx rate) is the ratio of the cryptocurrency the miner produces to another variable in which value is more relatable to the user. Fx rate is obviously not required to determine value [1] , but to the uninitiated it would be akin to attempting the mental math required to convert k Continue reading >>

7 Reasons Bitcoin Mining Is Not Profitable Or Worth It In 2017

7 Reasons Bitcoin Mining Is Not Profitable Or Worth It In 2017

Jordan Tuwiner Last updated June 13, 2017 The early days of Bitcoin mining are often described as a gold rush. Satoshi Nakomotos invention of Bitcoin, a peer-to-peer electronic cash system, opened up an entirely new frontier, not just of freedom but of occasionally outrageous profits. Those with a strong interest in such things, namely cypherpunks, cryptographers, technically-minded libertarians and assorted hackers, were first to stake their claim. But is there still gold in them thar hills? Bitcoin mining has grown from a handful of early enthusiasts into a cottage industry, into a specialized industrial-level venture. The easy money was scooped out a long time ago and what remains is buried under the cryptographic equivalent of tons of hard rock. Only those with specialised, high-powered machinery are able to profitably extract bitcoins nowadays. While mining is still technically possible for anyone, those with underpowered setups will find more money is spent on electricity than is generated through mining. In other words, mining wont be profitable at a small scale unless you have access to free or really cheap electriciy. Well explain this situation in depth but first, you need to know a few basic technical terms from the world of Bitcoin mining: A group of Bitcoin transactions, chosen from the mempool (the list of all currently pending transactions) and recorded by a miner into the ever-growing record of blocks known as the blockchain. A new block is created on average every ten minutes. This is the cryptographic work which miners perform in order to find the solution which allows them to define a new block. PoW hashing ensures the proper function of the Bitcoin blockchain. Miners compete to solve a cryptographic puzzle, known as a hash. There are no shortcuts in Continue reading >>

Crypto Calculator Crypto-coinz

Crypto Calculator Crypto-coinz

Nvidia Cards / AMD Cards - Select the number of cards you have Exchange buttons - Select the exchanges from which you want to get price information. Major exchanges are used to get BTC price. You can disable exchanges that you don't want to BTC price to be taken from and leave Coin market Cap to use a mean value for the BTC market. Algorithm buttons - activate the algorithms you want to calculate. 1. Revenue $ - Shows the estimate for the next 24 hours based on the information from the last mined block. Information from the last block used is the Global Hash rate. The time for a block from the coins Specifications is used for calculate the profits for the next 24 hours. his is an estimate profit based on the current Global Hash rate, if the hash rate changes, the profit will change too. Coins with volatile networks are expected to jump up and down and occasionally show on top of the list. 2. Revenue $ 24h - Shows the profits from mining the coin for the last 24 hours. The actual number of blocks mined from the network in the last 24 hours is used for the calculation. Information for the Global Hash rate from each mined block is extracted and used to perform the calculation. 3. Miners leaving opportunity - This will sort the coins based on the Loss of Hash rate to their Global Hash rate values. Meaning that you can benefit from getting more coins from the currency you want to build a stack from faster because miners have moved to some other more profitable coin. Although this will not give you the best profit in the present moment, this can help you acquire the coins you want faster and hold them for that Reward - Shows the number of coins that will be mined in the next 24 hours if the Global Hash rate stays the same. Reward 24h - Shows the number of coined that were mi Continue reading >>

How To Create An Ethereum Mining Calculator From Start To Finish

How To Create An Ethereum Mining Calculator From Start To Finish

How to Create an Ethereum Mining Calculator from Start to Finish Imagine having an additional $20,000 per year with next to zero work. Ethereum mining has created an enormous amount of new wealth, and new industries are popping up every day to capitalize on this growing industry. To be successful in Ethereum mining, you need to know the following: All of these items can change drastically at any given time. Luckily, I created a template that automates the process. The quick and dirty setup (1 minute or less) Open the template, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click Use in this document. Important You need to do this to activate Spreadstreet: Open the template, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click Use in this document. Download the free Google Sheets template in the video description to follow along. Click File Make a copy to start your own calculator 1. Download the Spreadstreet Google Sheets Add-in The Spreadstreet Google Sheets Add-in automates all of the dirty work for you, so you can find out quickly what hardware is the most profitable to mine Ethereum. Essentially what the add-on does is connect to various popular services within the cryptocurrency space. This calculator uses three services: CoinMarketCap, What to Mine, and Cryptocompare. 2. Pull in ticker information from CoinMarketCap In cell D1 of the Data tab, pull in the ticker information from CoinMarketCap. This is necessary in order to adjust for the value of the coins you will be receiving from mining. The coin value changes DRASTICALLY on any given day, so this single input can swing the mining profits significantly. 3. Pull in GPU hardware from What t Continue reading >>

 Ice Rock Mining Ico Is Going - The Largest Mining Center

Ice Rock Mining Ico Is Going - The Largest Mining Center

Where do I need to store ROCK2 tokens in order to get monthly profits from mining? Can I store them on MyEtherWallet or on your website? How often are you going to pay bitcoins to investors, weekly, monthly? Myetherwallet is one of the best! We are going to pay monthly. And the payouts will be provided in ETH through Smart Contract. We will convert BTC into ETH and make payments. What currency do you accept to participate in your Pre-sale? We accept BTC and ETH as a payment method. Please write personally to me via email [emailprotected] We are opened for collaboration. What is the minimum amount I should purchase in order to join? We already passed Soft cap at the first stage of our ICO, so whatever will be contributed we are going to release project! Btw, we have private investors, so we are definitely will succeed. At this moment we are listed in etherdelta.com exchange. In future, we are going to be listed in big exchanges. I just had a look at your site and using your calculator if I invest $1000.00 I will receive the ROI of 439% per year. That sounds unrealistic to me, if you take into account potential massive drops in the BTC price and difficulty increases, how can you offer such rewards? 1. BTC always drops and rises up The question - do you believe in Bitcoin or not? In our case, we strongly believe in BTC BTC 2. Network difficulty is always the main question, but as you can see, the price is rising up even faster than network difficulty. That is why we are not home miners, we are going to rise our farms capacity till 5000 ASICs Antminer S9 in this stage. 3. ROI of 439% per year is easy to explain thanks to 20% monthly reinvestment which will increase the capacity of Ice Rock Mining farm. And we do not spend on cooling systems. That is why we are more profita Continue reading >>

Cryptocurrency Calculator & Converter

Cryptocurrency Calculator & Converter

* Though Cryptonator synchronizes with online cryptocurrencies exchanges every minute, we cannot guarantee absolute accuracy of the displayed exchange rates. You should always confirm current rates before making any transactions that could be affected by changes in the exchange rates. Crypocurrency rates based on the data provided by exchanges APIs. All rates are for information purposes only and are subject to change without prior notice. Since rates for actual transactions may vary we are not offering to enter into any transaction at any rate displayed. Displayed rates are composite prices and not intended to be used for investment purposes. Continue reading >>

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