I have a few questions about mining in the UK. If I spent ~12k gbp / 16k usd on mining equipment (4 - 5 antminer S9), what kind of return would I get on them? From what I can tell using online calculators: each ant miner has a minimum of 11.5 TH/S of hashing power @ 1127W. Electricity price is approximately 20cents per hw/h (0.16gbp kw/h). At current prices, this would net ~9k usd a year / 6.7k gbp per miner - so if bitcoin stagnates at this price for a year, you'd still get a return of ~3x on the cost of the unit? Is the amount of btc you receive constant until the next halving in 2020? So at 11.5th/s you'd be expected to get 0.66 btc per year til 2020? Is anyone here successfully mining in the UK? Would it be worth waiting for the next iteration of the antminer series? Or perhaps its cheaper to purchase many old miners?
Trying to calculate bitcoin mining profitability but im not getting it right. How can i do it with these hardware specs?
PC specs: nvidia geforce 830m intel core i7-5500U CPU 2.40GHz *No costs with energy I tried to calculate on online tools but i must be doing something wrong because all of them are giving me wrong values (there are some fields that i dont know their meaning like Hashing Power,Polling Fee,Bitcoin Difficulty, Hash Rate, Block Reward, etc... )
Google sheet to auto-magically calculate bitcoin mining profitability
Hi guys, For my own amusement, I made a spreadsheet that calculates whether the bitcoin network as a whole is in profit, based on the total network hash rate, assumed electricity price in China and the cost per bitcoin. The drop down menu lets you select from the different mining rigs (I used figures on what google told me were the latest and greatest asics). Clearly these are some rough calculations but let me know if you spot any glaring mistakes. Remember you can make you own copy of the spreadsheet to edit the numbers which aren't drop downs. https://docs.google.com/spreadsheets/d/1mcYJsmWX2DPUyWbfNSydInpPALJ5tLrWUhJM_X9JEtI/edit?usp=sharing.
04-04 10:34 - 'Calculate how much it costs a mining rig to create bitcoin or other altcoins with our updated miner profit estimation tool' (medium.com) by /u/bitentrepreneur removed from /r/Bitcoin within 37-47min
I want to argue that the value of bitcoin can be asserted by the cost to mine it. It could be less than that, but it doesn't make sense that it would be more than that. At current difficulty, an antminer s9 can mine 0.064 BTC/month. Lets say it cost you $1500 to buy and setup the S9 and it will last you 15 months (a conservative estimate); so every month the setup costs you $1500/15 = $100. Electricity costs $0.15/kWh. At 1300 W, it is $140.40/month. Thus, total monthly cost is $240, and income is 0.064 BTC. This means a BTC costs $240/0.064 = $3750 You could change the variables and get a fair future estimate. Say, if difficulty becomes 2x by the end of next year, your cost will become 2x, or $7500/BTC. ref: https://www.coinwarz.com/calculators/bitcoin-mining-calculato?h=13500.00&p=1300.00&pc=0.15&pf=0.5&d=1590896927258.08000000&r=12.50000000&er=18885.10000000&hc=1500 So at $18k, definitely a bubble!
Due to an oversized solar array, I have about 10 kW of unused energy per hour during daylight hours. How much can you make per kWh in Bitcoin assuming your electrical cost is zero? If part of that answer is "it depends on your mining hardware" then could someone supply a table showing the current market cost for each kind of miner and the expected power draw in kW of each model? Which mining hardware would give the most mining power per dollar spent? This mining profitability calculator seems to give the main variables. https://www.coinwarz.com/calculators/bitcoin-mining-calculato?h=23000.00&p=1541.00&pc=0.0&pf=0.00&d=5106422924659.82000000&r=12.50000000&er=3895.50000000&hc=0.00 Do I just need to plug in my expected hash rate, energy consumption in watts, and electrical cost of zero? This article seems to suggest that in Jan 2018 the break-even price was $3900 per bitcoin, which corresponded to an electrical cost of 3 cents per kWh. https://medium.com/@hodlmodel/breakeven-price-of-btc-mining-i-bitmains-49-hashrate-694a5699fa37 Obviously that was a different world than today, but I wonder if things would be migrating - when bitcoin pricing is falling sharply - towards that break-even electrical cost of 3 cents per kWh. If yes, mining bitcoin with the available free electricity seems like a poor investment.
Hashflare +-zero if 10% difficulty increase every 14 days in average! (we have even higher now!)
Simple calculation. 365 days mining (contract) means 26 difficulty changes (every 14 days). Imagine it's always 10% increase... safe and exactly 10%. That means, that we increase our difficulty from "1873105475221" to "22323905475221". To do it simple: we increase from 1873 to 22323. This is an increase of 1191%. (26 times 10% increase in a row). Taking now every difficulty value after 14 days for the whole 365 days and then taking the average from all of it we get (simplified) 8401. According to this website, a 17 TH/s contract with ~17% pool fees (hashflare) and a safe block reward of 12.5 all the time, a static btc price of 17.500$ and the price for 17TH/s-contract (OLD PRICES!) it means that you do a +-zero with this contract, if the difficulty would be like 10% all the time. https://www.coinwarz.com/calculators/bitcoin-mining-calculato?h=17000.00&p=0.00&pc=0.00&pf=17.00&d=8401205475221.60000000&r=12.50000000&er=17500.00000000&hc=2695.00 tl;dr: lets hope that difficulty wont increase 1x% every 14 days from now. lets hope btc value wont drop back to 10.000USD or even less. tl;dr2: If difficulty is higher than hoped for, but BTC increases to 30.000USD you obviously did some money with your hashflare contract. But if you just buy the coin from a marketplace today for 17.500 USD you would have done MORE money with just keeping it in your wallet than cloud mining with hashflare. tl;dr3: dont trust those youtubers, they just do tons of money with affiliate programs and not with mining. KEEP THIS IN MIND PLX, it's looking like free money without working for it, but think about your dad's wise words: you will get nothing free in life! sry for bad english.
In my estimation, when the blocks no longer hold any mining rewards after 21 million bitcoin have been released into circulation, the transfer fees in each block will then replace the usual mining reward that comes with every block mined. Given the exponential diminishing rate that happens with the halving that takes place every 4 years, the last mining reward block will be minuscule in BTC quantity. This does not necessarily mean minuscule in value, as the 0.000000005 BTC in the final blocks just before 2140 could be of a “monetary” value (monetary could mean something totally different by then) much higher than what we see today. Let’s just assume bitcoin becomes the default currency by then, and there are significantly more transactions than what we have today. If we take the fee to transfer bitcoin to be flat at 0.000000000001 BTC (12 decimal places instead of the 8 we are accustomed to today), then a million of these transactions in a single block would constitute a total transfer fee reward of 0.000000000001 x 1,000,000 = 0.000001 BTC. For all the blocks after 2140 that provide no mining reward fee, the transfer fees alone will be sufficient incentive to resume mining operations to validate transactions. Will this reward be sufficient to run the mining facilities then? Probably, for 2 reasons. Even 0.000001 BTC will be of significant “monetary” value, and the means of power generation by then (think green energy and Ironman-style nuclear fusion arc reactors) could make mining more power efficient. The 22nd-century will bring about technologies nothing of what we can imagine today. We are currently in the 3rd Reward Era with 12.5 BTC mined every block, which on average consists of 1 to 3 BTC in transfer fees total. The ratio is hence about 6:1. In this instance, the weight in mining reward is greater than transfer fee reward, and this shouldn’t be a surprise as the mining reward is crucial to get miners to come up with capital income to set up mining facilities across the globe. The mining reward offers the bulk of this capital and operational (electricity/cooling) costs. Perhaps somewhere in the 17th Reward Era from Block No. 3,360,000 onwards when each block’s mining reward fee is 0.00076293 BTC, we may begin to see a shift in the reward’s weight from mining fee to reward fee. If this happens, then the mining and transfer fee rewards may reach an equilibrium, and we may see a ratio of 1:1 between mining and transfer fee rewards. What this means is after a few decades from today, when more bitcoin transactions have begun to take place, each block in the 17th Reward Era (Years 2072 to 2076) may consist of 0.00076 BTC in mining rewards, and also about 0.00076 in transfer fees. A 1:1 ratio. As we approach 2140, the shift in weightage towards transfer fee rewards will be incremental, until after 2140, when all rewards will only come from transfer fees from bitcoin transactions. You can think of this era similar to the credit card machines of today, where the fee charged to every credit card transaction is used to pay all parties who provide that credit card facility. Obviously, no new money needs to be printed when credit cards are used (similarly no new bitcoin is mined and paid to miners), but the 1 - 3% of every item purchased with a credit card (i.e. the transfer fee in bitcoin transactions) is sufficient to power the global network of credit card facilities and infrastructure. Perhaps the transfer fee then will be a percentage of the amount of bitcoin transferred. However, we won’t be here to witness it. Last bitcoin shall be mined in 2140 almost everyone talking on Reddit right now will never see bitcoin beyond 2070 thats when more than 99% bitcoin would have been mined and 1 Block then will be mining 0.3 BTC,or 43 BTC creation in entire day, there are 10s of pools and 100s of mining companies now mining ~ 1800 BTC per day. I have my doubts if mining will be feasible even by then by then because transactions then would be in millions per day and miners will get transaction fee which will be far more rewarding than mining. Also most likely we will never see beyond ~6 million BTC in circulation as 50% are Hodled, 20% lost forever. So 70% of 21 Million already out of circulation.
Because mining rigs create a lot of heat and noise, they may require you to rent a dedicated space to use them if you lack a well ventilated garage or basement. The last factor for calculating Bitcoin or other cryptocurrency mining profitability is the value of the cryptocurrency over the life of the miner. Calculating Bitcoin Mining Profitability | How to Calculate Bitcoin Profit. Bitcoin (BTC) mining profitability is something that is always in flux. With Bitcoin Core having such a high difficulty and large total hashrate, at times profitability can come down or go up, in both, Bitcoin profitability can be calculated. Bitcoin mining profitability calculators . Once you’ve figured out some of your costs and mining rig options, you can use a calculator to determine whether or not Bitcoin mining is worth it for you. 99Bitcoins and CryptoCompare both have great calculators for you to use. If you find that you won’t be profitable mining Bitcoin, don’t fret. Mining Bitcoin is not easy – that's why millions of dollars have been invested to research, develop, prototype and sell specialized mining hardware. Even if you invest in a specialized mining ASIC which can cost thousands of dollars, your chances of successfully validating a block on your own are slim. At the rate with which Bitcoin mining difficulty is increasing, mining hardware development is progressing, and rewards are decreasing, projections for the final Bitcoins being mined edge into the
New Bitcoin Mining Site 2020 Free Bitcoin Earning Site 2020 Earn 0.009 BTC Without investment
All of these values can be used to calculate how much money you will earn (or possibly lose) through mining cryptocurrencies like Bitcoin, Ethereum, Litecoin, or ZCash. In this video I will go over how to use a Bitcoin profit calculator and show you just how much money can be made Bitcoin mining using antminer s7 or s9. Crypto Clothing and Gear https ... BTCV Mining rewards calculator only ... Bitcoin Explained Simply for Dummies ... Mining City Presentation BTCV Mining Contracts Turn $600 n2 $600 monthly Passive Income ... Bitcoin Mining Roi Calculator 2017 with Genesis Mining! - Duration: 5:54. Jason Reviews TECH 2,909 views. 5:54. How Does Bitcoin Work? - Duration: 7:37. Techquickie Recommended for you. Best Bitcoin Mining Company 2017: Hashing24, Genesis Mining Or Galaxy Mining? - Duration: 22:20. Crypto Mining 10,254 views. 22:20. How to Buy a $25 Bitcoin Mining Contract in Dragon Mining...