Questions tagged [mining-profitability]
This tag should be used for questions about the economics of mining operations.
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How to start by building your first mining rig [closed]
I don't know if this question was ever asked before. If I would like to start mining, which is the best way to start. I have come across many solutions which uses software like:
Kryptex (Benchmark ...
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2answers
76 views
Miners forego revenue in order to 51% attack the Bitcoin protocol by rejecting blocks
I was recently listening to Mike Green and Anthony Pompliano debate the future of Bitcoin on RealVision. And Mike raised an interesting point regarding Bitcoin (I'm paraphrasing). "Scenario: Let'...
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1answer
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When the number of bitcoin reward halves after 4 years, doesn't the perceived value of a bitcoin about double?
Let's say the price of a bitcoin is US$33,000, and all the miners mine it or not mine it if their electricity kWh price is too high, and it is at an equilibrium that it is somewhat profitable and ...
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Do miners mine their own transactions or submit them to the network?
I am wondering how miners are behaving toward their own transactions. Do they send their own transactions to the mempool or can they process/confirm them directly?
I am assuming that the miners are ...
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2answers
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Is there any logical way that a “cloud Bitcoin mining” operation could be anything but a scam?
A few years ago, I paid (don't remember now if it was in Bitcoin or fiat) for a subscription to this "Cloudhash" scam. Basically, they claimed that I was "renting" a miner in their ...
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1answer
85 views
If I use a MacBook Pro to mine Bitcoin (and keep records for the blockchain), how much can I earn in 1 month? [duplicate]
I know people say it is not practical to mine Bitcoins using a computer any more, but graphics cards are usually used to mine them.
But suppose just for fun, I do use a MacBook Pro to
mine it 8 hours ...
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4answers
439 views
Can miners collude to bypass the penalty based revocation system of the lightning network?
The core lightning security assumption relies on a punishment mechanism called “Justice Transaction”. However, how can you prevent a malicious user from colluding with a miner, and producing a block ...
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98 views
Mining Bitcoin at 1000x Efficiency
Bitcoin secures its network by forcing miners to solve a cryptographic puzzle who's difficulty increases based on the total hashing power of the network. If someone were to develop an algorithm that ...
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What advantages do large-scale miners have?
Do established mining hardware companies (e.g., Bitmain) offer discounts to mining operations that place large orders (e.g., orders for 100s or 1000s of units)?
Since this is a competitive business, ...
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Does bitcoin miner heat as much as a heater
If someone want to heat a room or some water for a defined amount of time and without a worry about the sound produced.
Can a bitcoin miner be a good subtitute to a modern heather with the same power ...
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Do most small miners join mining pools? Is “pay-per-share” the dominant approach?
Is it correctly understood that most individual/small miners join mining pools?
Is "pay-per-share" (or some variations thereof) the most popular mining pool approach, which means that the ...
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im planing to buy BTC miner but the place im keeping it in suffers of power cuts everyday for approximately 15 minutes. will it operate?
im buying bitmain s9 for the 1st time and i have 0 experiences. if the power cut off for like 15-20 min everyday and come back will the miner operate by it self ? or i have to do it my self everyday. ...
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184 views
Who is paying for the running costs of Bitcoin?
Bitcoin mining will consume around 70TWh for 2020 (~3 nuclear power plants).
As far as I know, electricity is paid using fiat money. If 1 kWh costs 0.1 $, without counting hardware costs, that means ...
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nodes are run to get rewards or just to help bitcoin [duplicate]
I wanted to make a share of my help in bitcoin validation. my question is do Running A Full Node to validate transactions pays reward back or not so I can also benefits from my help to the community
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What is the relationship between bitmain-freq, Hashrate and Power Consumption?
I am running a few old miners (T9+) to heat my home and they are too loud and making a loss (which is ok, as I am interested in the heat). Following this suggestions (sticking with the standard ...
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3answers
423 views
Does mining bitcoin on a laptop have an expected revenue exceeding the cost of electricity and wear and tear on the computer? [duplicate]
My understanding, from a relatively old source, that it used to be that hobbyists would get bitcoins from mining on their private computers, but that more recently there was a heavy shift to e.g. ...
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Beginner's question: Why must proof-of-work be useless?
I wonder why the proof-of-work under no circumstances may be usable. The argument I understand is: If the proof-of-work could be used, its results could be sold, and doing the proof-of-work would cost ...
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2answers
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Can we check if a miner has validated the solution?
When a miner finds a solution for the block and broadcasts it to the other node, all the other nodes verify if it is a correct solution or not. The idea pops up a few questions in my head:
I read ...
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What is the probability of having forks in PoW given different network size (miners count)?
Given a blockchain network of n nodes, where m of them are miners (m < n), what is the impact of m on the probability of having forks in Bitcoin or any PoW-based blockchain?
It is clear for me ...
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2answers
44 views
In the future, if I pay a coffee with a very low fee, will it ever be paid?
So this is the thing, I am just learning about feedrates and how the miners pick their transactions with higher fees, so they can get more money. But, what will happen in the future when people pay ...
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What software should I use to mine bitcoins? [duplicate]
I'm really interested in bitcoins but I don't really trust any exchanges to keep my ID safe. I thought it would be a good idea to mine bitcoins for a day or two to get a couple of cents to send around ...
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2answers
267 views
How does the mathematical problem get harder for bitcoin mining over time?
How does it become harder for miners to extract bitcoin as time passes (excluding increasing computer capabilities and the competition between miners accordingly)? Is related to the amount of bitcoins ...
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1answer
208 views
How do miners earn partial bitcoins?
I know that the miner who has the hash matching with the bitcoin's root software gets to stamp the block and put it onto the blockchain (correct me if I'm wrong). Accordingly, that miner takes the ...
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1answer
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BITCOIN MINING POOL OPERATION CONCERN
I have contributed Bitcoin into a mining pool that was being promoted on Instagram. The miner of the pool informed me that the process consists of 5 cycles. He set an initial amount of Bitcoin to be ...
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1answer
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Mining pools communicating outside of network
Does anyone know of any papers / evidence of bitcoin mining pools communicating outside of the bitcoin network for financial gain? It seems plausible in practice, but I am not sure if that has ...
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1answer
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What would the effect of a very long bear market be on the Bitcoin economy?
I don't mean to be a doomsday prophet or spread FUD, but I need to know if Bitcoin (or any PoW coin) investors should be concerned about the following scenario:
Assume Bitcoin goes in a very long ...
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2answers
5k views
Why don't miners charge more for high value transactions?
I know high and low value transactions take up the same amount of space in the blockchain.
But wouldn't btc be more economical and fair if miners deliberatly chose transactions based on the value/fee ...
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1answer
100 views
Is it profitable to mine Bitcoin on iPhone X? [duplicate]
I'm a newbie to mining, so in just trying to explore our. I wish to know if it's profitable to mint it on iPhone X?
What I mean by profitability is making between $1000 - $3000 monthly by mining. ...
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1answer
76 views
If I have 51% of the capacity of the entire network, can I mine absolutely all the blocks faster than the network?
I'm really wondering can I mine absolutely all the blocks in the network faster than rest miners with their 49% hashing power not for the purpose of conducting double-spend attack?
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What is Profit Ratio in BTC.com mining calculator
BTC.com website has a sophisticated Bitcoin mining profitability calculator and a simple calculator. The sophisticated one has a lot of settings.
There is a particular setting named "profit ratio" ...
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48 views
Are miner builder/sellers profitability calculations true?
regarding to this question here How many hash calculation is needed to reach one BTC? , it takes about 1387 years with 1 TH/s power rate to reach 1 BTC.
So if someone has a machine with 53TH/s power ...
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1answer
482 views
I'm running an antminer solo on my local bitcoind 'pool' will i get paid?
I'm running an antminer 'a' solo on my local bitcoind 'pool' plus an S5. Both are hashing away lovely, but only the S5 goes through bfgminer, 'a' is connected to my bitcoind 'pool' directly . My ...
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1answer
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Is IQmining worth the investment? [closed]
I am interested in investing in crypto-contracts, is IQmining worth the investment?
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How much money in terms of electricity and hardware was invested into blockchain? [closed]
Right now in this moment Thu 11 July 2019 22:08 UK time
That's a sizeable number. Almost as big a fraud comitted by a single bank: https://en.wikipedia.org/wiki/Danske_Bank_money_laundering_scandal
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1answer
56 views
How much electricity and time would mining a bitcoin consume right now? [duplicate]
I live in an area where electricity is really cheap, I'm talking 0.003 USD per kilowatts/hour. I've searched myself around internet apparently it takes 15 000 kilowatts/hour of power to mine a bitcoin,...
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1answer
38 views
What is stopping pool managers to fake a miner?
What if a pool manager introduces a miner that is not there and then uses the reward distribution?
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1answer
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What is the minimum hash rate power should I have to get rewarded in btc.com? [duplicate]
I just want to know how much minimum hash rate power should someone have to receive reward in btc.com or other pools?
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49 views
Known cases of miners withholding blocks when used as randomness?
There are some applications that use the blockhash as a source of randomness, often with a payout similar to a lottery. I've heard of attacks where it would be more profitable for a miner to withhold ...
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1answer
884 views
How to perform CPU mining on bitcoin TESTNET on Linux?
I need approximately 100 Bitcoin Testnet to run an experiment on the lightning network.
Any suggestion on how to run CPU mining? Should I use cgminer?
Make any sense to perform solo mining on ...
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1answer
54 views
How has the hash rate for bitcoin continued to increase despite price drops and miners dropping out?
Despite price dropping in 2018, the hash rate for bitcoin tripled from around 15 EH/s to 45 EH/s. Why is this the case? I am aware that the network difficulty adjusts meaning that if miners drop off, ...
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1answer
88 views
Which is the more productive miner output k/sh or G/hs
Which would be the most efficient and profitable miner, one at k/hs or g/hs ?
I am seeking to find which "miner" algorithm i.e. daggerhashimoto blake2s etc would be best to mine with most of the ...
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1answer
7k views
how long can it take me to get 1 BTC on mining speed 30.9945H/s and 72.99451H/s respectively [closed]
im new to this biticoin mining, i justed to know is it going to earn me anything soon where my mining speed is at 30.9945165416H/s and 72.9945165416H/s really? how long can it take me to get 1 BTC
...
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3answers
498 views
Reason for Mininig a block without transaction
I came to know that there are people who mine a new block without any transaction. I understand that this is just to get the block reward.
Reference https://www.blockchain.com/btc/block/...
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2answers
569 views
What is the estimated price of Bitcoin which will push miners to stop mining if its price dropped to uneconomical level ? [closed]
What is the estimated price of Bitcoin which will push miners to stop mining if its price dropped to uneconomical level?
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183 views
Is it possible to take advantage of FP16 for mining BTC or ALTs?
I know mining uses mostly Integers, not Floating Point Ops... but still, is it possible to use Graphics Cards that support native 16bit Math for mining? Will it improve the performance in specific ...
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1answer
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what is a miner's main source of income
the name miner might come from the fact that it earns profits from block rewards; but a miner also earns profits from transaction fees, and it can choose which transactions to include into a block or ...
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Scammed by bitcoin mining [closed]
This Instagram account managed to scam me into sending bitcoin to the miner she said would make me money. I explained I was a novice and she said she would help me through the process, she then ...
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1answer
274 views
Is this calculation of mining probability using the Bernoulli trial formula accurate?
I'm trying to understand the formulas for successfully mining a block (without a pool) based on hashrate over time (i.e. to chart the probability of finding a block at various historical points ...
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1answer
96 views
How does difficulty impact profitability? what is the formula?
I have an Antminer S9 ASIC miner , and I have visited this , but I want to know how difficulty may impact my profitability in the future. I would also like to estimate break even costs.
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1answer
67 views
Funds disapprearance [duplicate]
I stored 0.0154 BTC in my blockchain for mining purposes and next morning I found my balance to be 000, what does that mean? Are my coins lost or stored somewhere else?
