Questions about the profitability of a particular Bitcoin-related action, typically mining.

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29 views

How does one calculate the profitability for a coin?

Given, a coin has difficulty 'd', an exchange rate 'x'/BTC or 'X'/USD, and given that my hardware can do 'y' MH/s (scrypt), how would I determine the best coin that I could mine? Do I need to consider ...
0
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1answer
33 views

Calculating the mining profitability of Novacoin

I've been researching altcoins and keep coming across some staggering figures. I think it's just too early to do math, but if I were to farm novacoins for example calculator here and I have pretty ...
3
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1answer
321 views

Calculation of arbitrage profit

I have made calculations based on 3 exchange buy and sell orders. (Cryptsy, C-cex and Bter) and have taken DOGE/BTC market into account. Both cryptsy and C-cex have the same calculations to get the ...
2
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2answers
151 views

Lottery Mining?

I know mining is extremely difficult now. I just wondering has anyone "won" by solo mining a block? How does the chances compare against say wining the lottery? Assume 3 Giga Hashes Per Second say. ...
7
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3answers
470 views

why do people mine bit coins when they are losing 20% a month

I would like to know why people mine bit coins independent of their Hash rate if their ROI loses 20% every month at the going difficulty rate and the exchange rate BTC/USD is at best flat?
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1answer
355 views

What is the meaning of the field for “Profitability decline per year” in bitcoinx' profitability calculator?

In the Bitcoin mining profitability calculator at bitcoinx.com/profit, there is a field with the description "Profitability decline per year". What does this field mean in regard to the calculation? ...
3
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2answers
3k views

Is ASIC Bitcoin Mining Profitable? [closed]

I’m pretty well versed in Bitcoin trading but am rarely new to Bitcoin mining. I hear a lot of conflicting views regarding the profitability you can achieve with Bitcoin mining. I was wondering if I’m ...
1
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3answers
1k views

How long does it take to earn back the investment of a miner?

I was strongly considering buying one of the 25 gh/s miners and hooking it up to my laptop or desktop when not using them, as in, leave the miner running overnight or while I'm at work. The mining ...
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2answers
229 views

Mining With Lots of Laptops

I have lots of laptops that are nearly idle all the time. Some of those laptops are new, some of them are old. Sometimes a word processor is opened and that's it. Is it possible to use these laptops ...
0
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1answer
50 views

Profit by programming a Bitcoin service (wallet) in an “only-now” bc adopting country? [closed]

A country where I am from appears to take Bitcoin into an interest right now. I am a senior programmer at one company and have done several projects, but right now I am mostly interested in the ...
3
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2answers
2k views

Why do dustcoin.com and coinwarz.com give opposite results of profitability?

It's been several days in a row that I go to dustcoin and see Dogecoin being listed as less profitable than either Digitalcoin and BBQcoin, with the latest being the most profitable. But then if I go ...
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1answer
282 views

What are the benefits of running bitcoind daemon?

Can I get some fees on others transactions coming through my PC (creating blocks or whatever)? Transit-fees I mean. Can I get some tiny bits of newly mined BTCs just on keep running bitcoind.exe in ...
2
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2answers
3k views

Profitability comparisons for Quarkcoin and Primecoin?

I've found sites where you can put your hash rate for scrypt and SHA-256 to check which cryptocurrency would be the most profitable for you to mine, such as: http://dustcoin.com/ ...
1
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2answers
1k views

Is it cost-effective to purchase an expensive card? [closed]

I was considering purchasing the Monarch BPU 300 C or the 600 C. However, neither of them are expected to ship before February of 2014 or later. If this calculator is to be trusted, it doesn't seem ...
1
vote
2answers
653 views

Need help understanding how profit from bitcoin trading (like forex?)

I wanna understand something very basic. How trading work between BTC & USD. Let's say I have 1 BTC at US 100. The naive idea is "buy low" and "sell high". But I don't grasp how that work, ie, ...
1
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1answer
217 views

Would professional ASIC-machine holder eventually become a bank-like character?

As we know, one of the concepts of bitcoin is to be "decentralized". When individual miners, even with ASIC miners, become unprofitable, will the system become more centralized to those several superb ...
0
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0answers
157 views

How has the move to ASIC miners influenced the total cost of operation of the Bitcoin network?

How has the move to ASIC miners influenced the total cost of operation of the Bitcoin network? For example Blockchain.info has an estimate of the total mining cost, on basis of assuming a cost of ...
0
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2answers
166 views

Why are the results of the Coinish Bitcoin calculate so grim?

I am currently investing into a new gaming PC with a Radeon HD 7990. According to objective reviews (e.g. ExtremeTech Review) this card outperforms many the competitors on the market, especially when ...
4
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1answer
2k views

mining profitability understanding

I am a beginner looking into bitcoin mining. I don't want to waste time (or electricity) so I started looking into hardware mining rigs, for example: Saturn priced at $3000 USD, 275GH/s, consumes ...
1
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3answers
667 views

Will ASIC miners hold the network “hostage” and demand a fee for their services?

I can see a trend coming where miners will likely hold the network "hostage" by mining blocks with no transactions in them... even when the block reward nears zero. This would leave transactions in ...
3
votes
2answers
433 views

How much money is being doled out in fees for every block right now?

Every time I see a calculation of the profitability of mining taking in account your hardware and the number of Hash/s it does and subtracting energy costs and then the probability of finding a share ...
4
votes
3answers
5k views

Wouldn't the expected return of a mining pool be no more than solo mining?

I don't understand the advantages of pool mining if you want to maximize your return. It seems like all it does is even out your return to make it more predictable by paying you smaller amounts more ...
2
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1answer
1k views

Formula for calculating daily mining earnings

I have seen other formulas, but they all vary and don't work. Can someone please show me a formula where I can plug in the difficulty and hash rate and that will give me how many bitcoin I generate in ...
0
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1answer
191 views

Online Mining Calculators using prebuilt machines data

I've read many comments that mining is not profitable, or barely. Using the machines data at https://en.bitcoin.it/wiki/Mining_hardware_comparison in online mining calculators do show some with good ...
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6answers
109k views

Do these new ASIC miners really pay for themselves in 5 days?

The Bitforce 50GH/s miner costs $2,500 today, and according to the following calculation it would mine enough coins in about 5 days to pay for itself. I am sure I am missing something here. Why would ...
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1answer
153 views

Has Bit Coins Price Go up because now it's harder to make one of those? [closed]

Before I wanted to mine coins. Then I found out that in the future the number of blocks will be reduced. That will eliminate profit. It turns out that it doesn't eliminate profit because bitcoin ...
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2answers
680 views

Are each of the currency trades at MtGox independent from the other? Who or what is the equalizing force that aligns the markets?

MtGox supports many different currency formats. I'd like to know if each currency/BTC trade is independent of any other and the valuation isn't always perfectly aligned. If someone wants Yen for BTC, ...
2
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1answer
2k views

How can pool operators reduce the number of orphaned blocks that they mine?

Every time a pool mines a orphaned block, that is wasted effort for the pool. In an interest to increase pool efficiency and overall network efficiency, what can a pool do to increase efficiency ...
1
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1answer
241 views

What ultimately happens to mining if blocks contain mostly non-Bitcoin data?

I'm trying to understand what can happen if A block consists entirely of 3rd party (xCoin) data like Namecoin There are no Tx fees to collect since they are on alternate chains. Assume that the ...
2
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2answers
2k views

Average cost of mining per BTC over time

Are there any approximations to the average cost of mining of a BTC over time? The reason I ask is because I think that as this ratio will affect the general availability of Bitcoins on MtGox, and ...
4
votes
2answers
12k views

Is CPU mining worthwhile for Litecoin? FPGA? GPU?

I'm interested in solo mining on Litecoin. Where can I learn about (or what math is required) two tell if this is feasible/profitable? Currently I have 30+ CPUs running as solo miners for 40 hours ...
5
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2answers
238 views

If miners pay income tax, could a change in tax laws affect network security?

Assuming that more than half of the Bitcoin miners pay taxes on revenue gained, could a increase in income tax laws (or similar) cause those ethical miners to go out of business? ... and the Bitcoin ...
3
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1answer
244 views

What Bitcoin profitability calculators account for taxation on miner income?

If I were to run a miner, I want to be ethical and pay all relevant income tax and gain all required licensing, etc for my country. My miner income is probably taxed at a 1099 income rate or lower, ...
3
votes
4answers
348 views

How to get the general population to pay more in transaction fees?

When mining becomes less profitable* what options are there for miners and mining pools to persuade or insist that end users pay more in transaction fees? I'm interested in Specific code changes ...
6
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3answers
344 views

Is the current network difficulty algorithm appropriate for “Peak transaction-only mining”?

At some point in the future miners will depend more on the Tx fee than per-block payout. Right now people turn on and off their equipment based on local trends such as price of electricity, etc. On ...
2
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1answer
2k views

What GPU-APU configuration should I buy for mining Bitcoins?

I want to make own computer for mining bitcoins. I read a lot of it but I have some questions. I want to buy APU + Graphic card and I am wondering when I my computer is mining is using for that CPU + ...
5
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2answers
4k views

BFL Single averages 800 Mhps on BitMinter Client. Advertised rate is 832. What explains the difference?

I'm using a BFL single with the BitMinter client and I never see my Mhps exceed 825 and it often goes down to 780 Mhps. What could be an explanation for this difference? Are the specs on BFL ...
12
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3answers
8k views

What is pool hopping?

What is pool hopping and how do pool hoppers affect other miners? Are there ways to prevent it?
17
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4answers
30k views

Can casual people still mine for bitcoins, now that the difficulty is much higher than it was?

Can casual people still mine for bitcoins? As of October 2012, the difficulty seems very high, being over 3,000,000. I've seen a ad for bitcoins, and watched the video. It said I could mine for them ...
4
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3answers
786 views

Must mining be profitable for Bitcoin to succeed? If no, what are the mitigations?

It is clear that mining is responsible for securing the network, and it is incentivised by block payouts and transaction fees. I've also seen discussions regarding different incentives for miners ...
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1answer
942 views

Is this a good time to enter mining?

This is a question that has been on my mind for a while. I was going to buy a server farm to mine Bitcoins and I was wondering if it would be practical to jump on the mining bandwagon at the current ...
2
votes
1answer
4k views

How to convert Litecoin difficulty of 6 to an expected time per block solved?

The current difficulty for mining Litecoins is about 6. If I mine them at 25kh/s, how often should I expect to solve a block with a difficulty of 6? I'd also appreciate an explanation (or formula) of ...
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2answers
16k views

What's the current $/Mhash [closed]

Just curious. My plan is to buy 5 of these So I should use this card right? http://www.amd.com/us/products/notebook/graphics/ati-mobility-hd-5800/Pages/hd-5830-specs.aspx Install them all in one ...
7
votes
1answer
3k views

Can I CPU mine others coins to win Bitcoins?

I have a useless Nvidia, until now, unconfigurable to mine (7300) So, if I mine just with CPU, can I get more coins mining others coins like NMC,LQC,LTC,SC, or whatever, and trading after for BTCs?
3
votes
3answers
2k views

Merge Bitcoin Mining with Fold at Home! [duplicate]

I am new, but have a big idea about bitcoin. There is a distributed computing project known as Fold at Home. What if its software were used for the generation of something instead of for a menial, ...
6
votes
2answers
202 views

Bitcoin as subscription method

I am contemplating designing some minor sites that uses bitcoins, but as far as I can see, a manual action is needed for every payment. Is it possible to set up a "subscription" system or repeating ...
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4answers
1k views

Why does mining profitability tend towards zero?

Why does mining profitability tend towards zero? Is it different for short term miners than it is for long term miners? Example: if I mine now and sell them next year, they may be worth more as ...
10
votes
2answers
9k views

How to choose the most profitable pool?

Say I have a moderate amount of hashing power and I want to maximize my profit by using the pool that would give the best rewards for mining with them, what should I look at when choosing a pool?
6
votes
2answers
633 views

Is there a uniform measure of “difficulty”, that when multiplied by price, will give “profitability of one hour of mining”?

I recently open Bitcoin Pie, a site that compares crypto-currencies. Given the exchange rate in BTC, I would like to add another column that tells "relative mining profitability", regardless of the ...
13
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1answer
224 views

Why are the mining rewards set to reduce in such dramatic steps?

The mining rewards are scheduled to drop from 50btc to 25btc. The next drop again will be from 25 to 12.5btc. In each of the steps into a new "era" the mining reward is reduced by 50%. This seems ...