Die besten Bitcoin Mining Rechner 2020 - Lohnt Mining?

I've been working on a bot for crypto subs like /r/bitcoin for a few days now. Say hello to crypto_bot!

Hey guys, I've been working on crypto_bot for some time now. It provides a bunch of features that I hope will enhance your experience on /bitcoin (and any other subreddit). You can call it by mentioning it in a comment. I started working on this a few days ago. I'm constantly adding new features and will update this post when I do, but if you're interested I'll post all updates and some tips at /crypto_bot. Please either comment here, message me, or post there if you'd like to report a bug, request a feature, or offer feedback. There's also one hidden command :)
You can call multiple commands in one comment. Here's a description of the commands you can use:

Market Data:

crypto_bot 
Responds with the USD price of one bitcoin from an average of six of the top bitcoin exchanges (BTC-E, Bitstamp, Bitfinex, Coinbase, Kraken, Cryptsy).
crypto_bot ticker 
Responds with the USD price of one bitcoin at seven exchanges (all of the ones listed above, plus LocalBitcoins). Also lists the average at the bottom.
crypto_bot [exchange] 
Responds with the USD price of one bitcoin from [exchange] (any of the seven listed above).
crypto_bot [litecoin|ltc|dogecoin|doge] 
Responds with the USD price of one litecoin, or the price of 1 doge and 1,000 doge.
crypto_bot litecoin|ltc [exchange] 
Responds with the USD price of one litecoin from BTC-E, Bitfinex, Kraken, or Cryptsy.
crypto_bot [currency] 
Responds with the price of one bitcoin in the specified currency. Available currencies (symbols): JPY, CNY, SGD, HKD, CAD, NZD, AUD, CLP, GBP, DKK, SEK, ISK, CHF, BRL, EUR, RUB, PLN, THB, KRW, TWD.

Information:

crypto_bot [about|info] [arg] 
Responds with a short description about [arg], as well as a link to an external site (Wikipedia, bitcoin.it, and some others) for more information. You can list multiple arguments and get a description for each. Available arguments: bitcoin, block chain, transaction, address, genesis, satoshi, mining, confirmation, coinbase, gox, cold wallet, hot wallet.
crypto_bot legal 
Responds with a chart about the legality of bitcoin in 40 countries, copied straight from Wikipedia.
crypto_bot [explain transaction delay|explain tx delay] 
Responds with an explanation of why transactions may take longer to confirm (the bot specifically discusses spam-transaction attacks in this command).

Network information/tools:

crypto_bot difficulty 
Responds with the current difficulty of the bitcoin network.
crypto_bot [height|number of blocks] 
Responds with the current height of the block chain.
crypto_bot retarget 
Responds with what block the difficulty will recalculate at, as well as how many blocks until the network reaches that block.
crypto_bot [unconfirmed transactions|unconfirmed tx] 
Responds with the current number of unconfirmed transactions.
crypto_bot [new address|generate address] 
Responds with a newly-generated public and private key. This is mainly to provide an explanation of what both look like, and contains a clear warning to not use or send bitcoins to the address.
crypto_bot blockinfo [height] 
Responds with information about block #[height], including its hash, time discovered, and number of transactions.
crypto_bot [address] 
Responds with information about [address], including its balance and number of transactions.
crypto_bot [transaction_id] 
Responds with information about [transaction_id], including what block it was included in, its size, and its inputs and outputs.

Calculators:

crypto_bot calc <# miningspeed> [#][w] [#][kwh] [#][difficulty] [hc$#] [$#] [#%] 
Responds with calculations and information about how a miner would do with the above data (mining calculator). The only required field is mining speed. Order of the arguments does not matter. Everything other than hashrate defaults to the following if not given: w (watts): 0, kwh ($kilowatt cost/hour): 0, difficulty: current network difficulty, hc$ (hardware cost): $0, $: current bitcoin price in usd (according to Coinbase), % (pool fee): 0. The calculator does not account for nor allow for input of the increase/decrease of difficulty over time, though I may add this feature soon. Working hashing speeds: h/s, kh/s, mh/s, gh/s, th/s, ph/s.
Example usage: "crypto_bot calc 30th/s 10w .12kwh hc$55 1.5%" (to make it easier to remember, th/s can also be inputted as ths). This calls the bot with a hashrate of 30 th/s, electricity usage of 10w, a cost of $.12 kWh, a hardware cost of $55, and a pool fee of 1.5%.
crypto_bot number of btc <$amount to convert> [bp$bitcoin price] 
Responds with the number of bitcoins you could buy with <$amount to convert>. If the comment specifies a [bp$bitcoin price], it calculates it with that exchange rate. Otherwise, it uses the rate from Coinbase.
Example usage: "crypto_bot $419.29 bp$180.32" This calculates how many bitcoins you can buy if you have $419.29 and the bitcoin exchange rate is $180.32.

Broadcasting

SignMessage! "" 
Signs a message in the bitcoin block chain in a transaction using OP_RETURN. The message must be less than 40 characters.
Example usage: "SignMessage! "Post messages in the block chain!""
I hope you find this bot useful! Again, if you have any questions or comments, please either comment on this post, message me, or post on /crypto_bot.
Update 1 (June 24, 2015, 17:35): The bot now responds with information if you post a link to a block, transaction, or address on Blockchain.info in a comment, even if you don't call it. For example, if I wrote "https://blockchain.info/block/0000000000000000126448be07fb1f82af19fbbf07dd7e07ebcd08d42c2660cb" in a comment, it would respond with information about block #362,377.
Update 2 (July 10, 2015, 1:59): The bot now has two additional commands: "unconfirmed transactions" (or "unconfirmed tx") and "explain transaction delay" (or "explain tx delay"). The first command responds with the number of unconfirmed transactions, and the second explains why transactions might take extra time to confirm.
Update 3 (August 24, 2015, 1:34): The bot now responds in a better way than before when transaction ids or addresses are posted. Before, it only responded when the transaction id or address was used in a link to Blockchain.info. Now the bot will respond whenever a transaction id or address is posted at all; a link to Blockchain.info is no longer necessary.
Update 4 (August 27, 2015, 3:00): The bot can now sign messages in the Bitcoin block chain using OP_RETURN.
submitted by busterroni to Bitcoin [link] [comments]

New people please read this. [upvote for visibility please]

I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can.
Preface
Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here.
If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier.
Mining. What is it?
Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section.
Mining Hardware
While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much.
Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it.
So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy.
Should I mine?
Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats
PCPartPicker part list / Price breakdown by merchant / Benchmarks
Type Item Price
CPU AMD Sempron 145 2.8GHz Single-Core Processor $36.01 @ Amazon
Motherboard ASRock 970 EXTREME4 ATX AM3+ Motherboard $99.48 @ OutletPC
Memory Crucial Ballistix Tactical Tracer 4GB (1 x 4GB) DDR3-1866 Memory $59.99 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Power Supply SeaSonic Platinum 860W 80+ Platinum Certified Fully-Modular ATX Power Supply $146.98 @ SuperBiiz
Total
Prices include shipping, taxes, and discounts when available. $1078.60
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s
Hardware Fundamentals
CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with.
RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory.
HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats)
GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like.
PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption.
MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less.
PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied.
When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info.
Mining Software
Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head)
Mining Pools
Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself.
How do I connect to a pool?
Most pools will give you a tutorial on how to but the basics are as follows:
  • Signup for a pool
  • Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
  • Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
  • Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability
This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine:
Hardware cost: The cost of your physical hardware to run this whole operation.
Power: Measured in $/KwH is also known as the operating cost.
Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon.
Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously.
Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones.
coinwarz
I like this one cause it is simple. The fields are self explanatory. Try it.
bitcoinwisdom
I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account.
Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it!
More Below.
submitted by craeyon to litecoin [link] [comments]

howmanyconfs.com - How does the security of different Proof-of-Work blockchains compare to Bitcoin?

https://howmanyconfs.com
Original post in Bitcoin here: https://np.reddit.com/Bitcoin/comments/biokgy/howmanyconfscom_how_does_the_security_of/

https://github.com/lukechilds/howmanyconfs.com/raw/mastescreenshot.png

How are these values calculated?

It's easy to compare blockchain hashrates when the Proof-of-Work algorithm is the same. For example if Bitcoin has a hashrate of SHA-256 @ 40 PH/s and Bitcoin Cash has a hashrate of SHA-256 @ 2 PH/s, it's easy to see that for a given period of time the Bitcoin blockchain will have 20x (40/2) the amount of work securing it than the Bitcoin Cash blockchain. Or to say that differently, you need to wait for 20x more Bitcoin Cash confirmations before an equivalent amount of work has been done compared to the Bitcoin blockchain. So 6 Bitcoin confirmations would be roughly equivalent to 120 Bitcoin Cash confirmations in the amount of work done.
However if the Proof-of-Work algorithms are different, how can we compare the hashrate? If we're comparing Bitcoin (SHA-256 @ 40 PH/s) against Litecoin (Scrypt @ 300 TH/s), the hashes aren't equal, one round of SHA-256 is not equivalent to one round of Scrypt.
What we really want to know is how much energy is being consumed to provide the current hash rate. Literal energy, as in joules or kilowatt hours. It would be great if we had a universal metric across blockchains like kWh/s to measure immutability.
However that's fairly hard to calculate, we need to know the average power consumption of the average device used to mine. For GPU/CPU mined Proof-of-Work algorithms this varies greatly. For ASIC mined Proof-of-Work algorithms it varies less, however it's likely that ASIC manufacturers are mining with next generation hardware long before the public is made aware of them, which we can't account for.
There's no automated way to get this data and no reliable data source to scrape it from. We'd need to manually research all mining hardware and collate the data ourself. And as soon as newer mining hardware comes out our results will be outdated.
Is there a simpler way to get an estimated amount of work per blockchain in a single metric we can use for comparisons?
Yeah, there is, we can use NiceHash prices to estimate the cost in $ to secure a blockchain for a given timeframe. This is directly comparable across blockchains and should be directly proportionate to kWh/s, because after all, the energy needs to be paid for in $.
How can we estimate this?
Now we have an estimated total Proof-of-Work metric measured in dollars per second ($/s).
The $/s metric may not be that accurate. Miners will mark up the cost when reselling on NiceHash and we're making the assumption that NiceHash supply is infinite. You can't actually rent 100% of Bitcoin's hashpower from NiceHash, there isn't enough supply.
However that's not really an issue for this metric, we aren't trying to calculate the theoretical cost to rent an additional 100% of the hashrate, we're trying to get a figure that allows us to compare the cost of the current total hashrate accross blockchains. Even if the exact $ value we end up with is not that accurate, it should still be proportionate to kWh/s. This means it's still an accurate metric to compare the difference in work done over a given amount of time between blockchains.
So how do we compare these values between blockchains?
Once we've done the above calculations and got a $/s cost for each blockchain, we just need to factor in the average block time and calculate the total $ cost for a given number of confirmations. Then see how much time is required on the other blockchain at it's $/s value to equal the total cost.
So to calculate how many Litecoin confirmations are equivalent to 6 Bitcoin confirmations we would do:
Therefore we can say that 240 Litecoin confirmations are roughly equal to 6 Bitcoin confirmations in total amount of work done.

Notes

$/s doesn't mean what it sounds like it means.

The $/s values should not be taken as literal costs.
For example:
This is does not mean you could do a 51% attack on Bitcoin and roll back 6 blocks for a cost of $360,000. An attack like that would be much more expensive.
The $/s value is a metric to compare the amount of work at the current hashrate between blockchains. It is not the same as the cost to add hashrate to the network.
When adding hashrate to a network the cost will not scale linearly with hashrate. It will jump suddenly at certain intervals.
For example, once you've used up the available hashrate on NiceHash you need to add the costs of purchasing ASICs, then once you've bought all the ASICs in the world, you'd need to add the costs of fabricating your own chips to keep increasing hashrate.

These metrics are measuring "work done", not security.

More "work done" doesn't necessarily mean "more security".
For example take the following two blockchains:
Bitcoin Cash has a higher $/s value than Zcash so we can deduce it has more "work done" over a given timeframe than Zcash. More kWh/s are required to secure it's blockchain. However does that really mean it's safer?
Zcash is the dominant blockchain for it's Proof-of-Work algorithm (Equihash). Whereas Bitcoin Cash isn't, it uses the same algorithm as Bitcoin. In fact just 5% of Bitcoin's hashrate is equivalent to all of Bitcoin Cash's hashrate.
This means the cost of a 51% attack against Bitcoin Cash could actually be much lower than a 51% attack against Zcash, even though you need to aquire more kWh/s of work, the cost to aquire those kWh/s will likely be lower.
To attack Bitcoin Cash you don't need to acquire any hardware, you just need to convince 5% of the Bitcoin hashrate to lend their SHA-256 hashpower to you.
To attack Zcash, you would likely need to fabricate your own Equihash ASICs, as almost all the Equihash mining hardware in the world is already securing Zcash.

Accurately calculating security is much more complicated.

These metrics give a good estimated value to compare the hashrate accross different Proof-of-Work blockchains.
However to calculate if a payment can be considered "finalised" involves many more variables.
You should factor in:
If the cryptocurrency doesn't dominate the Proof-of-Work it can be attacked more cheaply.
If the market cap or trading volume is really low, an attacker may crash the price of the currency before they can successfully double spend it and make a profit. Although that's more relevant in the context of exchanges rather than individuals accepting payments.
If the value of the transaction is low enough, it may cost more to double spend than an attacker would profit from the double spend.
Ultimately, once the cost of a double spend becomes higher than an attacker can expect to profit from the double spend, that is when a payment can probably be considered "finalised".
submitted by dyslexiccoder to CryptoCurrency [link] [comments]

Where is the network difficulty headed, come November?

Reposted for accuracy. (Read: My math skills are the result of public education.)
KNCMiner announced today that they're doing encapsulation on their new Scrypt ASIC chips, and then when they're completed, will be shipping to Stockholm for integration and testing, buildout and finally...shipping!
I have read on forums that they have sold 3,000 Titans via pre-order, for batch 1, at 250MH/s nominal performance, each. I figured it was time to look at my "hashrate/difficulty prediction" again and see where it may actually be, by the time the snow's falling. All of the below is calculated with a Litecoin price of around $5.
Let's assume for a moment that both Alpha Technology and Mining ASICs Technologies have also sold around 3,000 systems on pre-order (probably a safe bet) and all three expect to ship in September-October.
9,000 systems @ 250MH/s = 2,250,000MH/s. That's somewhere in the neighborhood of 2.25 TH/s being added to the network in roughly two months' time...that we can account for.
The current network hashrate, as I post this? Not quite 1 TH/s...it's 896 GH/s. But at the current rate of network expansion, we're going to be 1 TH/s by the time these systems ship, easily.
So...let's say we're looking at a 3.5 TH/s Litecoin network by November. What does that mean?
When the Bitcoin network hit 3.5 TH/s back in May of 2011, the difficulty was around 244,000. Litecoin's difficulty is currently around 28,000.
You can probably see where this is going, already. Fun with mining calculators time.
Say you have one 250MH/s miner and deployed it TODAY (impossible, but for the sake of argument). You're looking at pulling in 9 LTC/day with it. If you pay $.10/kwh you're very lucky not to live in California, but we'll say that's the case. You pay around $4.50/day in power. So you walk away with $42.50 worth of Litecoin, at $5/each. If you somehow managed to freeze the network at that difficulty and the coin at that price, you'd pay off your $9,200 purchase of hardware in roughly seven months or so...or if you bought a Titan at $10,000 you're looking closer to eight. But since difficulty marches on, forget that entire concept.
Now...say you get your system after all three companies have shipped and their customers have deployed them, and we've seen the network rocked to the tune of two-and-a-quarter terahashes per second. Oh, it's a rosy picture...
Now, with the network difficulty having blown up to 244,000 the miner with a 250MH/s system is mining 1.03 Litecoin per day. And if my estimates are correct...this is NOVEMBER, we're talking about. At the current price of $5/LTC and $.10/kwh you are pulling down a healthy $0.80/day in profits, after power. If you again had the power to freeze the hashrate and price, you'd be able to pay off that hardware purchase in, oh...roughly 35 years.
To have a REASONABLE shot at getting a return on your investment (around 5-6 months), Litecoin will need to be $70 by November and climbing steadily, in concert with network hashrate.
Bear in mind, again that there is nowhere else for that hashrate to go but Litecoin. Nothing else will profit the Scrypt miner. So what will happen? There is built-in hardware cost here that has to be recouped and the only real way of doing that is by mining...and there's only one game in town for Scrypt mining: Litecoin.
It's going to be a really, really wild fourth quarter for this year. Either the miners mine and hoard, decreasing supply and demand increases radically, or miners take heavy losses on hardware, can't afford to run them and the Litecoin network contracts until they CAN make money with them. In the interests of self-preservation, I have a feeling miners will start hoarding. Soon.
submitted by FreeJack2k2 to litecoin [link] [comments]

So you’ve got your miner working, busy hashing away … but what is it really doing?

Posted for eternity @ https://vertcoin.easymine.online/articles/mining
Your miner is repeatedly hashing (see below for detail about a hash) a block of data, looking for a resulting output that is lower than a predetermined target. Each time this calculation is performed, one of the fields in the input data is changed, and this results in a different output. The output is not able to be determined until the work is completed – otherwise why would we bother doing the work in the first place?
Each hash takes a block header (see more below, but basically this is a 80-byte block of data). It runs this through the hashing function, and what comes out is a 32-byte output. For each, we usually represent that output in hexadecimal format, so it looks something like:
5da4bcb997a90bec188542365365d8b913af3f1eb7deaf55038cfcd04f0b11a0 
(that’s 64 hexadecimal characters – each character represents 4-bits. 64 x 4 bits = 256bit = 32 bytes)
The maximum value for our hash is:
FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 
And the lowest is:
0000000000000000000000000000000000000000000000000000000000000000 
The goal in Proof-of-Work systems is to look for a hash that is lower than a specific target, i.e. starts with a specific number of leading zeros. This target is what determines the difficulty.
As the output of the hash is indeterminate, we look to statistics and probability to estimate how much work (i.e. attempts at hashing) we need to complete to find a hash that is lower than a specific target. So, we can therefore assume that to find a hash that starts with a leading zero will take, on average, 16 hashes. To find one that will start with two leading zeros (00), we’re looking at 256 hashes. Four leading zeros (0000) will take 65,536 hashes. Eight leading zeros (00000000) takes 4,294,967,296 hashes. So on and so on, until we realize that it will take 2 ^ 256 (a number too big for me to show here) attempts at hitting our minimum hash value.
Remember – this number of hashes is just an estimate. Think of it like rolling a dice. A 16-sided dice. And then rolling it 64 times in a row. And hoping to strike a specific number of leading zeros. Sometimes it will take far less than the estimate, sometimes it will take far more. Over a long enough time period though (with our dice it may take many billions of years), the averages hold true.
Difficulty is a measure used in cryptocurrencies to simply show how much work is needed to find a specific block. A block of difficulty 1 must have a hash smaller than:
00000000FFFF0000000000000000000000000000000000000000000000000000 
A block of difficulty 1/256 (0.00390625) must have a hash lower than:
000000FFFF000000000000000000000000000000000000000000000000000000 
And a block of difficulty 256 must have a hash lower than:
0000000000FFFF00000000000000000000000000000000000000000000000000 
So the higher the difficulty, the lower the hash must be; therefore more work must be completed to find the block.
Take a recent Vertcoin block – block # 852545, difficulty 41878.60056944499. This required a hash lower than:
000000000001909c000000000000000000000000000000000000000000000000 
The achieve finding this, a single miner would need to have completed, on average 179,867,219,848,013 hashes (calculated by taking the number of hashes needed for a difficulty 1 block - 4,294,967,296 or 2 ^ 32 or 16 ^ 8 – and multiplied by the difficulty). Of course, our single miner may have found this sooner – or later – than predicted.
Cryptocurrencies alter the required difficulty on a regular basis (some like Vertcoin do it after every block, others like Bitcoin or Litecoin do it every 2016 blocks), to ensure the correct number of blocks are found per day. As the hash rate of miners increases, so does the difficulty to ensure this average time between blocks remains the same. Likewise, as hash rate decreases, the difficulty decreases.
With difficulties as high as the above example, solo-mining (mining by yourself, not in a pool) becomes a very difficult task. Assume our miner can produce 100 MH/s. Plugging in this into the numbers above, we can see it’s going to take him (on average) 1,798,673 seconds of hashing to find a hash lower than the target – that’s just short of 21 days. But, if his luck is down, it could easily take twice that long. Or, if he’s lucky, half that time.
So, assuming he hit’s the average, for his 21 days mining he has earned 25 VTC.
Lets take another look at the same miner, but this time he’s going to join a pool, where he is working with a stack of other miners looking for that elusive hash. Assume the pool he has joined does 50 GH/s – in that case he has 0.1 / 50 or 0.2% of the pool’s hash rate. So for any blocks the pool finds he should earn 0.2% of 25 VTC = 0.05 VTC. At 50 GH/s, the pool should expect to spend 3,597 seconds between finding blocks (2 ^ 32 * difficulty / hashrate). So about every hour, our miner can expect to earn 0.05 VTC. This works out to be about 1.2 VTC per day, and when we extrapolate over the estimated 21 days of solo mining above, we’re back to 25 VTC.
The beauty of pooled-mining over solo-mining is that the time between blocks, whilst they can vary, should be closer to the predicted / estimated times over a shorter time period. The same applies when comparing pools – pools with a smaller hash rate will experience a greater variance in time between blocks than a pool with a greater hash rate. But in the end, looking back over a longer period of time, earnings will be the same.
Hashes
A Hash is a cryptographic function that can take an arbitrary sized block of data and maps it to a fixed sized output. It is a one-way function – only knowing the input data can one calculate the output; the reverse action is impossible. Also, small changes to the input data usually result in significant changes to the output value.
For example, take the following string:
“the quick brown fox jumps over the lazy dog” 
If we perform a SHA256 hash of this, it results in:
05c6e08f1d9fdafa03147fcb8f82f124c76d2f70e3d989dc8aadb5e7d7450bec 
If we change a single character in the input string (in this case we will replace the ‘o’ in ‘over’ to a zero), the resulting hash becomes:
de492f861d6bb8438f65b2beb2e98ae96a8519f19c24042b171d02ff4dfecc82 
Blocks
A block is made up of a header, and at least one transaction. The first transaction in the block is called the Coinbase transaction – it is the transactions that creates new coins, and it specifies the addresses that those coins go to. The Coinbase transaction is always the first transaction in a block, and there can only be one. All other transactions included in a block are transactions that send coins from one wallet address to another.
The block header is an 80-byte block of data that is made up of the following information in this order:
  • Version – a 32-bit/4-byte integer
  • Previous Block’s SHA256d Hash – 32 bytes
  • Merkle Hash of the Transactions – 32 bytes
  • Timestamp - a 32-bit/4-byte integer the represents the time of the block in seconds past 1st January 1970 00:00 UTC
  • nBits - a 32-bit/4-byte integer that represents the maximum value of the hash of the block
  • Nonce - a 32-bit/4-byte integer
The Version of a block remains relatively static through a coin’s lifetime – most blocks will have the same version. Typically only used to introduce new features or enforce new rules – for instance Segwit adoption is enforced by encoding information into the Version field.
The Previous Blocks’ Hash is simple a doubled SHA256 hash of the last valid blocks header.
The Merkle Hash is a hash generated by chaining all of the transactions together in a hash tree – thus ensuring that once a transaction is included in a block, it cannot be changed. It becomes a permanent record in the blockchain.
Timestamp loosely represents the time the block was generated – it does not have to be exact, anywhere within an hour each way of the real time will be accepted.
nBits – this is the maximum hash that this block must have in order to be considered valid. Bitcoin encodes the maximum hash into a 4-byte value as this is more efficient and provides sufficient accuracy.
Nonce – a simple 4-byte integer value that is incremented by a miner in order to find a resulting hash that is lower than that specified by nBits.
submitted by nzsquirrell to VertcoinMining [link] [comments]

How to calculate Hashflare income?

Profit is calculated via the deduction of expenses from income.
The income consists of daily payouts which size depends on the hashrate. In order to calculate an estimated income using the hashrate you will need to include it in one of the calculators below (set all Power values to zero):
Main Hashflare calculator - https://bit.ly/cryptolifehack
  1. http://www.coinwarz.com/calculators/bitcoin-mining-calculator - for SHA-256
  2. http://www.coinwarz.com/calculators/litecoin-mining-calculator - for Scrypt 3. http://www.coinwarz.com/calculators/ethereum-mining-calculator - for ETHASH (set all Power values to zero)
  3. http://www.coinwarz.com/calculators/dash-mining-calculator - for X11 (set all Power values to zero)
  4. https://www.coinwarz.com/calculators/zcash-mining-calculator - for EQUIHASH (set all Power values to zero)
Next, deduct the maintenance + electricity fee of 0.0035 USD per 10 GH/s of SHA-256 and 0.005 USD per 1 MH/s of Scrypt from the income. ETHASH, X11 and EQUIHASH contracts are not subject to any fees. The sum you end up with is your estimated profit.
submitted by KolinPaul to u/KolinPaul [link] [comments]

All about hashflare.io bitcoin mining

I have been mining BTC in hashflare for about 13 months. I have already received 50 times my initial investment of small 100$ to 5000$, giving the fact that I did not reinvest and the BTC prices have risen tremendously.
I have again started mining with hash flare and I am quite sure that since the price of BTC is expected to rise to 50k - 100k in 2018, my initial investment of 600$ this time will give me close to 10k-20k$ with the investment strategy I have chosen.
If you like to join BTC mining with a minimal investment and get returns in thousands of $s then you can join via my affiliate link http://bit.ly/2maXzM0 (small commission without effecting your investment) and I will give you my tips to grow your money exponentially.
What is HashFlare?
HashFlare is a department of HashCoins, a company that develops software for cloud mining and maintains equipment in datacenters.
Hashflare provides cloud mining contracts to the buyers for 365 days. The mining starts immediately after the purchase and the output can be seen after 24hrs.
What all cryptocurrencies can I mine with Hashflare service?
HashFlare provides cloud mining on the following algorithms:
SHA-256, which is used to mine Bitcoins;
Scrypt, which is used to mine Litecoins*;
ETHASH, which is used to mine Ethereum;
X11, which is used to mine DASH.
*payouts are provided in BTC using the current exchange rate taken from cryprocurrency market.
MY PERSONAL OPINION - AS PER THE CURRENT MINING TRENDS AND PROFITABILITY, IT IS ADVISABLE TO MINE BTC.
How long does the contract last?
SHA-256 and SCRYPT contracts last 1 year(365 days) and are subject to maintenance and electricity fees (MEF).
ETHASH, EQUIHASH and DASH contracts last for 1 year (365 days) and are not subject to any fees.
How to calculate estimated profit using hashrate?
Profit is calculated via the deduction of expensesfrom income.
The income consists of daily payouts which size depends on the hashrate. In order to calculate an estimated income using the hashrate you will need to include it in one of the calculators below (set all Power values to zero):
1. Bitcoin - for SHA-256
2. Litecoin - for Scrypt
3. Ethereum - for ETHASH (set all Power values to zero)
4. DASH - for X11 (set all Power values to zero)
5. Zcash - for EQUIHASH (set all Power values to zero)
Next, deduct the maintenance + electricity fee of 0.0035 USD per 10 GH/s of SHA-256 and 0.005 USD per 1 MH/s of Scrypt from the income. ETHASH, X11 and EQUIHASH contracts are not subject to any fees.
The sum you end up with is your estimated profit. Join at http://bit.ly/2maXzM0
submitted by letsolioforlife to u/letsolioforlife [link] [comments]

A Question on Wallets and LiteCoin Profitibility

How do you keep the bitcoin wallet on a flash drive when the program is currently over 20 GB in size? Do you need a giant flash drive or...what? And is keeping your wallet out of reach of the internet a sure fire way to keep it from getting hacked, or is there another way to get the info?
Secondly, a question about LiteCoin- originally posted to bitcointalk:
I recently took an interest in mining but the standard Bitcoin profit calculators told me the sad news: that my PC would produce such a pitiful number of coins (like $20 worth a year, even with some simple gear) that it wasn't worth it (especially when considering electricity costs). But I happened upon a litecoin calculator and put in the same values (20 GHs/s, current difficulty, my computer's wattage, power costs, etc.) and the calc told me I could mine around $500k worth of LiteCoin (after exchanging to BTC then to USD at the current rates).
I'm assuming something's very off. Here's the calculator: http://www.coinwarz.com/calculators/litecoin-mining-calculator
I'd be getting two Butterfly Labs 10 GH/s USB blocks ($50 each) and run my AMD Radeon 7700 GPU for a little more. I have a 250 watt PC and power's about 0.12 a kW. What's broken here, or can I really get rich on this alt currency?
submitted by mrmayge to BitcoinBeginners [link] [comments]

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rupiah,.,i,.,bitcoin,.,in inr in 2009,.,bitcoin,.,japan,.,bitcoin,.,jobs,.,bitcoin,.,japan legal,.,bitcoin,.,jesus,.,bitcoin,.,jobs london,.,bitcoin,.,jobs uk,.,bitcoin,.,july 2017,.,bitcoin,.,jokes,.,bitcoin,.,june 2017,.,bitcoin,.,jihan,.,bitcoin,.,j,.,bitcoinj tutorial,.,bitcoinj micropayments,.,mary j,.,bitcoin,.,belle,.,mary j,.,bitcointalk,.,j maurice,.,bitcoin,.,mary j,.,bitcoin,.,j p morgan,.,bitcoin,.,,.,bitcoin,.,j vty,.,обменник,.,bitcoin,.,bitcoin,.,kurs,.,bitcoin,.,kraken,.,bitcoin,.,koers,.,bitcoin,.,knots,.,bitcoin,.,key,.,bitcoin,.,kopen,.,bitcoin,.,korea,.,bitcoin,.,knowledge,.,bitcoin,.,kaufen,.,bitcoin,.,kurz,.,bitcoin,.,k line,.,bitcoin,.,k,.,bitcoin,.,k value,.,bitcoin,.,k chart,.,john k,.,bitcoin,.,bitcoin,.,k-market,.,k-market jätkäsaari,.,bitcoin,.,k čemu,.,bitcoin,.,bitcoin,.,live price,.,bitcoin,.,latest 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me,.,bitcoin,.,nedir,.,bitcoin,.,news india,.,bitcoin.n,.,bitcoin,.,n.ireland,.,n&p,.,bitcoin,.,consulting,.,shares in,.,bitcoin,.,piotr_n,.,bitcointalk,.,piotr_n,.,bitcoin,.,m of n,.,bitcoin,.,bitcoinspot.n,.,bitcoin,.,or ethereum,.,bitcoin,.,owner,.,bitcoin,.,online,.,bitcoin,.,original price,.,bitcoin,.,offline wallet,.,bitcoin,.,online wallet,.,bitcoin,.,outlook,.,bitcoin,.,official site,.,bitcoin,.,on amazon,.,o,.,bitcoin,.,e seguro,.,o,.,bitcoinu,.,bitcoin,.,o'reilly,.,bitcoin,.,to aud,.,bitcoin,.,o'reilly pdf,.,bitcoin,.,to euro,.,bitcoin,.,to btc,.,sve o,.,bitcoin,.,o'reilly,.,bitcoin,.,and the blockchain,.,bitcoin,.,price gbp,.,bitcoin,.,predictions,.,bitcoin,.,price uk,.,bitcoin,.,price prediction,.,bitcoin,.,paper wallet,.,bitcoin,.,pizza,.,,.,bitcoin,.,price live,.,p np,.,bitcoin,.,r.i.p.,.,bitcoin,.,p-free,.,bitcoin,.,win32/bitcoinminer.p,.,bitcoin,.,qt,.,bitcoin,.,qr code,.,bitcoin,.,quote,.,bitcoin,.,quantum computing,.,bitcoin,.,que 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chart,.,bitcoin,.,value history,.,bitcoin,.,value gbp,.,bitcoin,.,vs ethereum,.,bitcoin,.,vs usd,.,bitcoin,.,volatility,.,bitcoin,.,vs litecoin,.,bitcoin,.,value 2010,.,bitcoin,.,vs gold,.,bitcoin,.,v litecoin,.,bitcoin,.,v dollar,.,bitcoin,.,v euro,.,bitcoin,.,v gold,.,bitcoin,.,v blockchain,.,bitcoin,.,v onecoin,.,bitcoin,.,hack v.2,.,bitcoin,.,worth,.,bitcoin,.,wiki,.,bitcoin,.,wallet uk,.,bitcoin,.,what is it,.,bitcoinwisdom,.,bitcoin,.,whitepaper,.,bitcoin,.,wallet online,.,bitcoin,.,wallet address,.,bitcoin,.,wallet download,.,bitcoin,.,miner.w,.,bitcoin,.,w polsce,.,bitcoiny w polsce,.,bitcoin,.,w niemczech,.,bitcoin,.,w chmurze,.,bitcoin,.,w żabce,.,bitcoin,.,w polsce legalny,.,bitcoin,.,w chinach,.,bitcoin,.,w prawie polskim,.,bitcoin,.,w górę,.,bitcoin,.,xe,.,bitcoin,.,xbt,.,bitcoin,.,xt,.,bitcoin,.,xbte,.,bitcoin,.,xapo,.,bitcoin,.,xrp,.,bitcoin,.,xt price,.,bitcoin,.,xpub,.,x,.,bitcoin,.,generator,.,bitcoin,.,yahoo finance,.,bitcoin,.,year chart,.,bitcoin,.,year,.,bitcoin,.,yield,.,bitcoin,.,ytd,.,bitcoin,.,yubikey,.,bitcoin,.,yoda,.,bitcoin,.,yahoo finance chart,.,ybitcoin,.,magazine,.,bitcoin,.,y control de cambio,.,y combinator,.,bitcoin,.,ecuador y,.,bitcoin,.,bitcoin,.,by paypal,.,bitcoin,.,y el lavado de dinero,.,bitcoin,.,y deep web,.,bitcoin,.,y lavado de dinero,.,bitcoin,.,y litecoin,.,bitcoin,.,and blockchain,.,bitcoin,.,zebra,.,bitcoin,.,zerohedge,.,bitcoin,.,zimbabwe,.,bitcoin,.,zar,.,bitcoin,.,zcash,.,bitcoin,.,zapwallettxes,.,bitcoin,.,zarabianie,.,bitcoin,.,zug,.,bitcoin,.,zero,.,bitcoin,.,zero confirmations,.,bitcoin,.,z value,.,titan z,.,bitcoin,.,mining,.,titan z,.,bitcoin,.,z cash,.,bitcoin,.,nvidia titan z,.,bitcoin,.,mining,.,nvidia titan z,.,bitcoin,.,nakup zlata z,.,bitcoini,.,sklep z,.,bitcoinami,.,trgovanje z,.,bitcoini,.,co z,.,bitcoinem,.,bitcoin,.,0 confirmations,.,bitcoin,.,0.1,.,bitcoin,.,0.1.0,.,bitcoin,.,0 active connections,.,bitcoin,.,0 transaction fee,.,bitcoin,.,0 fee,.,0.15,.,bitcoins,.,0 25,.,bitcoins,.,0.05,.,bitcoin,.,in euro,.,bitcoin,.,2.0,.,0.1,.,bitcoins,.,0.21,.,bitcoins,.,bitcoin,.,1st august,.,bitcoin,.,1 million,.,bitcoin,.,101,.,bitcoin,.,10 year chart,.,bitcoin,.,10000,.,bitcoin,.,148,.,,.,bitcoin,.,10 year prediction,.,bitcoin,.,100k,.,bitcoin,.,100 dollars,.,bitcoin,.,10 years ago,.,1,.,bitcoin,.,in gbp,.,1,.,bitcoin,.,in pounds,.,1,.,bitcoin,.,in £,.,1,.,bitcoin,.,to dollar,.,1,.,bitcoin,.,in inr,.,1,.,bitcoin,.,to euro,.,1,.,bitcoin,.,in gdp,.,1,.,bitcoin,.,in eur,.,1,.,bitcoin,.,to myr,.,1,.,bitcoin,.,in sterling,.,bitcoin,.,2010,.,bitcoin,.,2017,.,bitcoin,.,2020,.,bitcoin,.,2018,.,bitcoin,.,2009,.,bitcoin,.,2013,.,bitcoin,.,21 million,.,bitcoin,.,2012,.,bitcoin,.,2014,.,2,.,bitcoin,.,to usd,.,2,.,bitcoin,.,price,.,2,.,bitcoin,.,to inr,.,2,.,bitcoin,.,wallets,.,2,.,bitcoins to dollars,.,2,.,bitcoins free,.,2,.,bitcoins a month,.,2,.,bitcoin,.,qt,.,bitcoin,.,2 year chart,.,bitcoin,.,2 paypal,.,bitcoin,.,3000,.,bitcoin,.,31st july,.,bitcoin,.,3 confirmations,.,bitcoin,.,3.0,.,bitcoin,.,3 year chart,.,bitcoin,.,3 month chart,.,bitcoin,.,300,.,bitcoin,.,365 club,.,bitcoin,.,3000 usd,.,bitcoin,.,30 confirmations,.,3,.,bitcoins in gbp,.,3,.,bitcoins,.,3,.,bitcoins to usd,.,3,.,bitcoin,.,in euro,.,3,.,bitcoin,.,to eur,.,bitcoin,.,3 unlimited,.,bitcoin,.,3 day chart,.,bitcoin,.,3 address,.,bitcoin,.,4000,.,bitcoin,.,4chan,.,bitcoin,.,4 billion,.,bitcoin,.,401k,.,bitcoin,.,4 backpage,.,bitcoin,.,43,.,bitcoin,.,40000,.,bitcoin,.,4k,.,bitcoin,.,4 year chart,.,bitcoin,.,48,.,4,.,bitcoins,.,4,.,bitcoins to usd,.,4,.,bitcoins in gbp,.,4,.,bitcoin,.,to eur,.,bitcoins 4 backpage,.,bitcoin,.,4 igaming,.,bitcoin,.,4 u,.,bitcoin,.,4 november,.,bitcoin,.,4 cash,.,bitcoin,.,5 year chart,.,bitcoin,.,51 attack,.,bitcoin,.,500,.,bitcoin,.,5 year,.,bitcoin,.,500 000,.,bitcoin,.,5000,.,bitcoin,.,50000,.,bitcoin,.,5 year price,.,bitcoin,.,5 years ago,.,bitcoin,.,5 year forecast,.,5,.,bitcoins in pounds,.,5,.,bitcoins,.,5,.,bitcoins to usd,.,5,.,bitcoin,.,free,.,5,.,bitcoin,.,in euro,.,bitcoin,.,5 years,.,bitcoin,.,5 minutes,.,bitcoin,.,5 min,.,bitcoin,.,5 unlimited generator,.,bitcoin,.,666,.,bitcoin,.,6 months,.,bitcoin,.,6 confirmations,.,bitcoin,.,6 month chart,.,bitcoin,.,6000,.,bitcoin,.,60 minutes,.,bitcoin,.,6 confirmations time,.,bitcoin,.,6 month price,.,bitcoin,.,6 years ago,.,bitcoin,.,60 day chart,.,6,.,bitcoin,.,network confirmations,.,,.,
submitted by besterse to BestCryptoPlatform [link] [comments]

Mining Calculations/Questions

Hello everyone! I'm looking into getting into mining scrypt currencies like Litecoin and ran into some vary weird calculations that just can not be accurate, but I'm not sure what could be wrong.
I found this miner: http://www.amazon.com/BITMAIN-ANTMINER-U2-Bitcoin-Overclockable/dp/B00ITD5NV6/ref=cm_cr_pr_product_top
It claims to do 2 GH/s which seems crazy as it is. So I was curious about how profitable it would be. So I Googled "Litecoin mining calculator". I found this website: http://litecoinminingcalculator.com/. It asks for kh/s for their calculator. So I enter in what the 2GH/s would be and unless my math is wrong it should be 2,000,000 KH/s. At that rate it estimates I will mine 191.25 Litecoin a day at the current difficulty of 10,307.9291509 (could this be wrong?) At 191.25 LTC a day that is 67415.09 LTC a year. That has to be wrong isn't it? That's absolutely absurd number. Something has to be wrong, but I'm not sure what it is. Any ideas?
submitted by Jediguy to litecoin [link] [comments]

If Mr. Data from Star Trek were to use his Positronic Brain to mine cryptocurrency, how efficiently could he do it?

"In "The Measure of a Man", a Starfleet judge rules that Data is not Starfleet property. The episode establishes that Data has a storage capacity of 800 quadrillion bits, (88.81784197 PiB) and a total linear computational speed of 60 trillion operations per second.
Info taken from KnC´s newsletter
Titan Chip Specs Each Titan will have four of our groundbreaking chips installed on delivery to make sure they'll output the guaranteed minimum performance we have specified (300 MH/s). We're delighted to release these eye-catching specifications on our new Titan scrypt miner:
If you do the math you'll find that each Titan miner has a whopping 9136 cores running 73088 threads in total.
found information on the web that mining bitcoin requires 3385 integer operations per bitcoin hash But for Scrypt hash it seems to be a lot lot looot more.
So to make it simple
lets say it takes 138072 (128K) operations per Hash, could be more, could be less. (but way more than a Bitcoin Hash, 40 times more) Would equal ~434.555.884 Hashes/second, 434.5MHs Scrypting, (Litecoin) and that is with a Positronic brain which is in no way optimized for scrypt-mining, But it´ll do just fine But im not sure you will ever reach ROI haha
For Bitcoin , assuming "60 Trillion operations" could be integer operations aswell, would be able to calculate 17.725.258.493.35 Hashes/s 17.725GHs SHA-256.
. . .
Summarizing. Mr data´s Positronic brain, that has a capacity of 60 Trillion Operations per second would be able to
Bear in mind that 1. Positronic brains does NOT exist in todays wonderful world but in the world of Star Trek, OK?! 2. Mr Data´s Positronic brain was designed for other purposes than mining cryptocurrency ! 3. The calculation made for Litecoin Mining is rather fictive (made up) since there were no info about how many operations that is needed to do 1 Hash for Litecoin as far as i have searched. 4. ROI is NOT going to be reached until sometime after year 2336 when Mr Data is born"
source: http://forum.kncminer.com/forum/off-topic/humo34636-data-s-gh-sec
submitted by cballance to Bitcoin [link] [comments]

Questions from someone who is new to Bitcoin

Hello, I am very interested in trying bitcoin or litecoin to make a few extra dollars here or there. I've done some research, and I have a few questions.
Right now, I'm looking at the Butterfly Labs Jalapeno. https://products.butterflylabs.com/homepage/5-gh-s-bitcoin-miner.html. It costs $275, and it processes 5GH/S. I ran that through the Bitcoin Calculator (https://bitclockers.com/calc) and it estimated that it would return $15,000 a year at bitcoin's current price of 148.00. (Click this link to see my settings: http://bitclockers.com/calc/mining_difficulty/7673000/difficulty_change/2/btc_per_block/25/value_per_btc/148.8/mhash_rate/5000/cost_per_kwh/0.12/watts_consumption/750/total_days/90/hardware_cost/250)
I'm pretty sure I'm missing something here. I figure there's no way I should expect that kind of return. What am I missing? How much should I expect to make? What advice would you offer to a noob like me? Right now, I'm mostly in the research phase, I don't want to dive in until I'm sure it's the right decision.
submitted by johndavismit to Bitcoin [link] [comments]

Some pieces I cannot put together

I've been reading extensively on bitcoin for the past few days and there are a few holes here and there that I'm trying to understand. So far it makes me believe that this whole mining thing is some sort of elaborated scam. Here is a few unorganized points that are confusing to me.
Why are other currencies like litecoin slowly becoming popular and why people want them to become popular? What purpose do litecoin serves that bitcoin doesn't? If the second to bitcoin, a redundant currency like litecoin becomes popular and that people want it to become popular, then what's stop more of those currencies to all becoming popular making each of them just spammy/redundant at the end, don't we only need one of those currencies to serve the purpose of worldwide decentered transactions?
The so popular and referred mining hardware comparison sheet gives a list of videocard that are recommended to use. Combined with this calculator people can make some calculations to see if they should invest electricity cost into mining.
Now it seems to yield a little free income at the end of the month, all seems well until you investigate further. The power consumption of your videocard shown there is, in the radeon 6850 case, only half of what it truly use at full usage.
Now to add to this, I've been mining for more than a day at full power without stopping nor interfering in the process. It tells me I should be making 0.0125 bitcoin a day but I barely made half of that in a bit more than a day, yet I am positive the videocard ran at full strength for the whole process.
Now, double electricity cost vs half production, it becomes almost a profitless operation. To this, combined that the current bitcoin value is tenfold what it was 3 months ago, how could it have been profitable back then if it is not right now?
Now another suspicious part to me is those 2 websites 1 2. They offer what every person would ever want, a way to make a lot of money easily.
Both of them deliver their products months after purchase and, the 2nd website especially, is selling something that would potentially pays for itself back in less than a month, after which huge profit would come in. How convenient, to sell something that yields huge profit and pays itself back so quickly, better sell than use ourselves right?
The first site has sold out, and funnily enough are selling the next batch for 75 bitcoin per... which they could just mine themselves faster than their delivery time, so what's their gain really? Conveniently we have the 2nd website, not sold out, selling something similar to the 1st website, without any pictures of what the behind of their miner looks like, who won't mention anywhere the power consumption of their product but say that it comes with a usb cord, plug and play!
That sure not sound fishy at all since the asic counterpart is shown on the comparison sheet as using 600 W, for sure the usb connector hole can output that kind of power right?
Hopefully someone can shed some light on all this to the better understanding of least common asked matters, yet quite important for anyone who wants to jump in this... bandwagon...
I'm legitimately trying to see things optimistically but so far I only see a few root members trying to scam the entire world by projecting this half legit currency world unto us.
Note: sorry for my relatively poor english, I tried putting my thoughts into word as precisely as I could, but I couldn't do it as well as I wish I could.
submitted by StupidButSerious to Bitcoin [link] [comments]

Bitcoin mining profit calculator HOW TO USE A BITCOIN MINING CALCULATOR Free bitcoin mining and withdraw without fee - YouTube Bitcoin profit mining calculator - YouTube Bitcoin Mining Calculator - YouTube

Bitcoin Mining Calculator Englisch: Mit dem "Bitcoin Mining Calculator" errechnen Sie, ob Bitcoin Mining für Sie rentabel wäre, 1. Litecoin Mining Calculator Summary. Enter the hashrate of your Litecoin miner (Optional) Enter additional info you may have, such as your electricity costs, pool fees (if you’re mining via a pool), etc. Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Conclusion: A Bitcoin Mining Calculator Predicts the Future To conclude, a Bitcoin mining calculator can give you a much better idea about your potential to run a profitable mining operation. Remember, however, that some factors such as Bitcoin’s price and mining difficulty, change every day and can have dramatic effects on profitability, so it’s important to conduct up to date ... Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware.

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Bitcoin mining profit calculator

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