Questions tagged [mining-profitability]

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

107
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9answers
319k views

How much Bitcoin will I mine right now with hardware X?

Say I have a given piece of hardware (CPU/GPU). Where can I find out how much Bitcoin will I mine per day?
55
votes
2answers
68k views

In the ASIC-age, is it worth starting mining Bitcoin at home?

I have recently learned about Bitcoin and would like to get rich quickly into mining. I have control of a laptop library full of ancient computers powerful gaming PC cluster of GPUs an old ASIC, I ...
43
votes
8answers
26k views

Is CPU mining even worth it? [duplicate]

I would like to start mining, but my GPU isn't the greatest and I don't really want to spend the money on a dedicated rig. Is mining from my CPU (in a Linux environment) still worth it? Or will I not ...
23
votes
2answers
6k views

How can I compute mining profitability? [duplicate]

It was asked elsewhere, but I'm re-asking the question in a less time sensitive way. Can you please list some of the techniques, charts, spreadsheets, calculators or other tools that help someone to ...
11
votes
3answers
69k views

Is Gpu mining still an option?

My friend asked me to do a research for him on bitcoin mining, I don't know a lot so I'm asking. He's consider buying either NVIDIA gtx titan or NVIDIA gtc 980. Decent motherboard and internet speed. ...
10
votes
4answers
4k 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 ...
6
votes
1answer
987 views

Why doesn't the same miner always win?

If the miner with the strongest ability to solve the block wins, why doesn't the same miner win every time? Wouldn't that miner still have the strongest ability to perform the proof of work on the ...
26
votes
6answers
88k views

Solo mining just for luck, realistic?

Just turned my attention to mining and the concepts are quite new to me. First of let me be clear: I realize that my hardware setup is far from ideal for mining. This is also the reason why I do not ...
13
votes
4answers
40k views

What are the odds of discovering a block as a solo miner?

I understand that during mining, one does not discover individual coins, but rather blocks of coins, and I heard that one block equals many coins (but how many?). I am wondering though, as a solo ...
7
votes
4answers
4k views

Is mining still profitable? [closed]

We all know that mining is supposed to keep the Bitcoin system secure. However, difficulty has risen so much that costs for power currently outstrip possible revenue for mining for a large portion of ...
13
votes
4answers
9k views

What happens once the mining reward gets cut in half?

Sometime around the end of 2012 the mining reward is expected to be cut in half from 50BTC/block to 25BTC/block. What effect will this have? Doesn't this mean that it will be less economic to run a ...
12
votes
5answers
17k views

How does one calculate the profitability of GPU mining?

As GPU mining made CPU mining non-profitable, at some point in time more specialized mining hardwares (FPGA and ASIC) would make GPU mining non-profitable. When is GPU mining considered not-...
12
votes
4answers
5k views

Why are companies selling mining hardware instead of using it themselves?

I'm not (yet) using Bitcoin, and I'm just approaching this world as of now. I stumbled upon some merchants that sell mining hardware (with some GH/s). But I've yet to understand what they gain, apart ...
25
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3answers
23k views

What is pool hopping?

What is pool hopping and how do pool hoppers affect other miners? Are there ways to prevent it?
7
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3answers
19k views

How does a difficulty increase affect a miner's income?

At the time I write this, there are a lot of people getting into Bitcoin mining for the first time. Many buy ASIC hardware and are later surprised that their mining income suddenly drops due to a ...
6
votes
4answers
1k views

How do cloud hashing companies profit? (leasing hashing power)

I think I'm missing something. There are a bunch of cloud hashing companies that lease hashing power. Let's take cointellect for example. They have contracts from 10 days to 24 months. If I buy a 10 ...
19
votes
4answers
23k views

Solo Mining vs Pool Mining for users with high computing power

Let's say that a user has a decent amount of computing power. At the current difficulty of 1777774.4820015, he could have for example 10Gh/s (he would earn around 5 BTC per day according to a ...
7
votes
3answers
5k 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.
6
votes
1answer
2k views

Mining profitability sounds too good, where is the catch?

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
vote
1answer
75 views

How much is enough

I recently acquired a BTC mining package with total GH/s: 342.56 I realize it is small - but it is a start. What amount of GH/s is good for a beginner to start off with. Do I have a significant ...
0
votes
2answers
623 views

Unlocking a Private Key from watch status

I received Some mining profits to my Blockchain. However the person who sent them to me send them to me with a private key. They then wanted me to send them money to unlock the private key. Does ...
-3
votes
2answers
459 views

How much did I make in profit from Bitcoin rising in price [closed]

I bought $30.00 of Bitcoin. The price at that time was $6,896.00. The price now is $8,074.00. How much did I make? And how do I do the math?
16
votes
2answers
1k views

Will the amount of electricity used for mining be huge if Bitcoin is widely adopted?

A quick and very rough estimation: If the USD/BTC exchange rate grows to $1000/BTC (not that far-fetched if Bitcoin is actually widely adopted) bitcoins for a value of $300000 would be produced every ...
35
votes
3answers
17k views

Is there any point to casual mining?

Is there any point to casual mining anymore? I recently discovered bitcoin and was wondering if there was any point to running mining software on my laptop while I work on essays or other non-...
31
votes
6answers
123k 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 ...
3
votes
2answers
9k views

What is the algorithm to create a Bitcoin mining calculator?

I want to know how I can calculate the profit of bitcoin mining in bitcoins. I am interested in the formula that is used by calculators. For example lets say I have 700mh/s hashrate, current ...
9
votes
3answers
3k views

Pool Hopping Math

It's been discussed and argued at great length whether pool hopping is ethical, but there is no debate about whether it works - I even have some first hand experience that says it increases mining ...
4
votes
1answer
3k views

What should I consider when deciding to whether or not to mine?

I go here http://www.alloscomp.com/bitcoin/calculator I put in the amount of hashing power I am willing to purchase, EG: 100 GH/s. It tells me I will make $2,094.25 a month. I am aware that the ...
1
vote
2answers
6k views

Mining on Amazon EC2

Was there ever a time when mining on Amazon EC2 was profitable? When the difficulty was low, so was the exchange rate, so I'm not sure.
0
votes
1answer
386 views

Does mining power of different miners add up in mining pools?

I have this doubt regarding bitcoin mining, assuming I have two miners of hashpower 500 H/s . Can I add up my hashpower and make it work like a single processor of 1000H/s OR Both both miners would ...
7
votes
1answer
3k views

Can I CPU mine other 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?
4
votes
3answers
6k 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 ...
1
vote
3answers
771 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 ...
18
votes
7answers
7k views

Do USA-based miners need to register with FinCEN?

As seen in recent news, FinCEN has issued a statement on its classification of virtual currencies: http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html Hypothetically suppose I mine ...
6
votes
6answers
5k views

How much energy will the Bitcoin network eventually consume? [duplicate]

A recent Bloomberg article stated that the Bitcoin network currently consumes about half as much energy as the Large Hadron Collider or enough to power 31,000 US homes. Even if the article is way off ...
18
votes
4answers
43k 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 ...
10
votes
2answers
13k 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?
7
votes
1answer
11k views

Calculating average number of hashes tried before hitting a valid block

I'm toying with the idea of starting to mine, and was wondering how to calculate how many hashes on average must be tried before one will "hit" a valid block? I'm talking about a single user (not a ...
8
votes
5answers
9k views

Will expensive mining equipement have any worth in the future?

With more and more people picking up advanced ASIC miners, the difficulty is going up while the remaining coins are going down. If miners continue joining at this or a faster rate, the limit might be ...
8
votes
2answers
23k views

Equation for mining profit [duplicate]

I'm a newbie. What is the basic equation for computing profit from mining given gigahash per second of the miner, timeframe, miner costs, and current bitcoin economy stats like mining difficulty and ...
6
votes
2answers
753 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 ...
5
votes
2answers
714 views

Does difficulty ever stop increasing?

I know we don't have to worry about this for a very long time, but... One argument against Bitcoin, and really, digital currencies as a whole, is that, in order to time blocks with reasonable ...
4
votes
1answer
3k views

Can Artificial Intelligence be used to mine BitCoins faster?

Can Artificial Intelligence be used to find more efficient mining algorithms? Is there only one algorithm that can be used to mine? EDIT: Asking about running the SHA(SHA(block header)) more ...
2
votes
1answer
3k views

Explain the math behind mining profitability calculators

Can anyone explain the math behind the mining calculators like: http://www.bitcoinx.com/profit/ I'm trying to build a Google spreadsheet that does the same thing.
15
votes
1answer
271 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 ...
6
votes
3answers
456 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 ...
4
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 ...
4
votes
5answers
44k views

I've tried everything from mining bitcoin to litecoin to other altcoins…why do I have no luck?

I am a beginner in the blossoming culture of crypto-currency, and unfortunately, it's beginning to feel as if 2015 is too late of a year for a laptop-user such as I to be able to start mining. I'm ...
2
votes
2answers
22k views

How do I calculate mining profit from shares in Litecoin?

I'm getting around 4 shares a minute (mining at 100Mh/s but I don't mind that much because the number of shares is what actually matters, right?) and since LTC/USD is 2 and it pays 50 LTC for every ...
-4
votes
1answer
5k views

Is Bitcoin mining profitable yet?

My points: Using the Bitcoin mining profitability calculator and mining hardware comparisons, we see that with most of the hardware (GPUs, FPGAs) you can't generate enough bitcoins to compensate for ...