Questions tagged [mining-profitability]
This tag should be used for questions about the economics of mining operations.
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Running a Node To Support the Network [duplicate]
Is there compensation in sats for individuals who invest in running nodes in support of the Network?
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1answer
53 views
Is there a way to know how good a miner is choosing its transanctions to be mined from a fee maximization point of view?
Well, this is the way I've tried:
When a mined block arrives to my node, I compare it against a transaction selection algorithm using my mempool. (I know my mempool it's different than the miner's one,...
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24 views
Are mining pools scalable? Can you split the block reward across a very large number of pool members?
Let's assume the number of individuals that join mining pools grows by a lot. Let's say we have one mining pool with 50,000 members. The pool is successful and receives a block reward. The next step ...
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Are there someone can explain me how to go from the first to the second? Thanks [duplicate]
The first: BTC/day= 24 / (D * 2^32 / (H * 10^6) / 60 / 60) * C
The second: BTC/day= (H*B/D) * 20.11626
In the first formula that I find in a discussion, I can't understand the mathematic form. In my ...
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105 views
How much mining activity is needed for Bitcoin to remain secure?
I'm not looking for a number, but rather for a way to make an estimate taking things like market capitalization and the fact that mining uses ASICs into account. (I assume ASICs are relevant since ...
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30 views
Bitcoin mining for the regular person? [duplicate]
Is it feasible for a regular person to mine crypto like Bitcoin with just a couple of machines? Or is the wear and tear to those machines coupled with the electricity costs just too much to make it a ...
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1answer
296 views
Where to find exact number of hashes required to mine most recent block?
I would like to see real-time mining profitability. The bitinfocharts web only shows day average. Is it possible to see how many hashes were actually needed to mine most recent Bitcoin block?
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How are there over 18M bitcoins when the reward halves every 210,000 bitcoins?
A quick google search told me that up to today, more than 18.78 million bitcoins have been mined. Source
Another google search told me that today, the mining reward is 6.25 bitcoin per block.
If the ...
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How do you pay cryptocurrency miners? [duplicate]
I understand that miner A confirms a transaction and is then paid a certain amount of bitcoin.
But is it not that other transaction?
That is, someone pays miner A then another miner B has to confirm ...
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Would AsicBoost have made "all the difference between a profitable and an unprofitable mine" "for the bitcoin mines of the future"?
Back when AsicBoost was a thing - the paper by Timo Hanke, "AsicBoost - A Speedup for Bitcoin Mining", made the following claims in the introduction:
Through gate count reduction on the
...
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1answer
19 views
Can Miners spend the data-insertion amount?
I am wondering if a Miner can spend the amount mentioned in a data-insertion transaction for herself?
And what is the incentive for Miners to confirm data-insertion transactions?
Thank you
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How much hash power exists in redundant mining hardware?
I'm trying to understand the feasibilty of a hostile nation-state performing a double spend attack on bitcoin. Assuming mining profitability is not a concern, I wonder if they could buy or borrow ...
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1answer
66 views
Where is there a graph of total miner revenue (BTC) per unit time (e.g. day)?
Basically I'm looking for this graph, but denominated in BTC https://www.blockchain.com/charts/miners-revenue or this graph plus the block reward https://www.blockchain.com/charts/transaction-fees
I'...
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12answers
15k views
Why would anyone sell a Bitcoin miner instead of just mining themselves?
Every time I have asked Bitcoin experts about buying a "cloud mining" account, that is, paying fiat money to a company for them to mine Bitcoin for me, I get the response that it's a scam. &...
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1answer
121 views
Are all "hosted mining" services necessarily scams?
In 2014 or something, I paid a smaller sum of money to some company called "Cloudhashing" or something, which claimed that I was renting part of their Bitcoin mining pool and all I had to do ...
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Is bitcoin mining mostly a losing game for individuals? [duplicate]
I've just read about the new ASIC chips and how people are keen to get them. I assume whoever sells the chips would have made huge profits for years by now. The more miners start using these faster ...
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Are there any academic papers on the link between energy markets and Bitcoin mining?
I am keen to see if there have been any academic papers that have studied the link between bitcoin miners and energy markets, in-particular, if there is a so called 'no-arbitrage' requirement, or a ...
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1answer
184 views
What is the incentive for continuing to mine bitcoin as we get very close to the 21 million cap?
The Investopedia article on Bitcoin explains the Bitcoin issuance schedule and how it's halved every four years. Currently, roughly 18.5 million have been mined, with the total cap being 21 million. ...
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How mining works for a new born cryptocurrency [duplicate]
What I have learnt that mining is breaking a block which contains transactions using hashing algorithm (Sorry if this is wrong please do correct me).
Now my question is how mining will work for a new ...
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What is the fraction of the Bitcoin mining power that might be engaged in Selfish-Mining?
Is there an estimate for the fraction of miners engaged in Selfish Mining within the BTC network? In light of the publication The Impact of Selfish Mining on Bitcoin Network Performance (2021), ...
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1answer
59 views
Any study on the relative expected return of bitcoin mining and running the LBC client?
Both bitcoin mining and running the Large Bitcoin Collider client require computing hardware and electricity. A difference is the LBC runs on CPU based hardware, mining profitably requires specialist ...
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1answer
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Is there an easy way to estimate the number of mining nodes?
I was curious about the number of mining nodes on the network, yet I haven't seen it discussed.
I tried two different approaches to approximate the count of mining nodes. I looked up the hashrate of ...
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1answer
383 views
Is Mining Bitcoin While The Price is Low or High better?
I have a few questions:
Does the reward for Bitcoin increase/decrease when the price goes up and down?
Is it more profitable to mine when Bitcoin is down, or when it is up?
Thank you!
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2answers
241 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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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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1answer
60 views
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
103 views
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
180 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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3answers
1k views
Why is Bitcoin not moving to an ASIC-resistant Proof of Work algorithm?
Bitcoin uses a Proof of Work algorithm that makes it the perfect victim of ASIC mining. As a result, hash power is not very decentralized (more than 50% of Bitcoin's hash power is concentrated in ...
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4answers
490 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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2answers
124 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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7answers
12k views
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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4answers
768 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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1answer
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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
772 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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3answers
2k views
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
112 views
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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2answers
62 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
687 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
560 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
61 views
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
196 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
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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" ...
