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Questions tagged [mining-profitability]

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This tag should be used for questions about the economics of mining operations.

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34 views

premined coins have a amount of 0.00000000 [closed]

Why do my premined coins have a amount of 0.00000000 except for one mined coin that has a amount of 999999999.00000000?
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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
55 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
14k 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
111 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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59 views

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
176 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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38 views

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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29 views

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
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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
81 views

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
211 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
231 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
80 views

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
55 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
95 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
157 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
798 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
478 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
121 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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0answers
43 views

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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7answers
11k 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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46 views

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
617 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
107 views

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
697 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
97 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
57 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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25 views

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
618 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
454 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
67 views

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
51 views

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
49 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
170 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
83 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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57 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
725 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
45 views

Is IQmining worth the investment? [closed]

I am interested in investing in crypto-contracts, is IQmining worth the investment?
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36 views

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
58 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
40 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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