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Questions tagged [mining-profitability]

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

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110
votes
9answers
321k 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 ...
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 ...
26
votes
6answers
91k 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 ...
26
votes
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?
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 ...
21
votes
1answer
50k views

Current FPGA Competitiveness

I know CPUs and GPUs can't really compete with ASICs anymore but what about FPGAs? Are they still reasonable? Anyone have a ballpark idea of what kind of Gh/s (or Mh/s) has been done with something ...
19
votes
4answers
24k 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 ...
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 ...
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 ...
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 ...
15
votes
2answers
20k views

Can you mine more bitcoins on amazon aws than it would cost to operate the servers?

Read title. Creating a soft of self sustainability if you will. It might not be possible?
15
votes
6answers
42k views

Has anyone gotten rich mining bitcoins?

A number of questions on this site ask whether it's possible to make money mining bitcoins and the expected profits. However, I'd like to know if there are real-life stories of people becoming ...
15
votes
1answer
273 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 ...
14
votes
5answers
131k views

Is it worthy to use “bitcoin usb block erupter”

I was searching for Mining hardware on internet and found that a new technology is available known as "bitcoin usb block erupter" for mining bitcoins as 300MH/S I just want to know if it is useful to ...
14
votes
1answer
636 views

How will bitcoin stay decentralized when mining becomes extremely expensive?

My understanding of bitcoin is that the miners are the ones keeping bitcoin decentralized. What happens when only the richest of people can afford mining?
13
votes
4answers
41k 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 ...
13
votes
2answers
3k views

Is Lightning Network a risk for Bitcoin security since it reduces miner fees?

does LN represent a risk for the Bitcoin ecosystem since it will reduce miner fees (the only income they'll have in a post-btc-minting world) and displace them into second layers? I couldn't find any ...
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
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 ...
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-...
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. ...
11
votes
2answers
6k views

Exactly how does one calculate how many BTC they will get a certain hashrate?

I am curious on how many estimated BTC I will earn at any hash rate since, I don't really think I'm really earning any BTC at 600 Mhash/s.
10
votes
3answers
14k views

Javascript Bitcoin miner is it even worth it?

I know that mining bitcoins via JavaScript is just pointless at this point in time, but is there any other altcoin that is worthwhile mining via a GPU/CPU via a JavaScript embedded into a web page? ...
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 ...
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?
10
votes
3answers
98k views

Is it worth mining Litecoins?

Is it worth mining Litecoins and then exchange them for Bitcoins (because I am not sure if there will be space for more crypto currencies in the future)? I can get about 25k hash/sec by CPU mining on ...
9
votes
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 ...
9
votes
2answers
3k views

Why do leading ASICs manufacturers sell their chips? [duplicate]

I understand that some people have access to cheaper electricity than others. However why not just open mining facilities in the parts of the world offering the lowest cost structure? If that is not ...
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 ...
9
votes
2answers
947 views

Where in the world is bitcoin mining the most profitiable? [closed]

This is a question for Bitcoin miners. High cost of electricity can really cut down on the profitability of Bitcoin mining. I want to know what geographic location has the cheapest electricity and ...
9
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 ...
9
votes
4answers
2k views

Why invest in mining hardware if the difficulty continues to climb at an exponential rate?

From the FAQ : Creating a block is a proof of work with a difficulty that varies with the overall strength of the network. So with these purty graphs there is a continuous exponential trend in ...
8
votes
3answers
7k views

Is there a point where bitcoin mining will not be profitable?

A lot of news accounts are pointing out that bitcoin mining is getting more difficult over time, murch even said recently in chat its getting "exponentially harder". I am not sure if that is the case, ...
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 ...
7
votes
3answers
3k views

Bitcoin mining, do you do the work or does the computer?

Assuming you have the appropriate hardware and software, does mining involve the person mining to sit at the computer to mine or do you fire it up and just let the software run and check back later to ...
7
votes
5answers
3k views

Energy consumption while mining

I am new to Bitcoin and I read some article about bitcoins and Most articles says "When using CPUs, GPUs, or even the older ASICs, the cost of energy consumption is greater than the revenue generated."...
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 ...
7
votes
2answers
1k views

Has someone compared the cost of mining vs. that of brute-forcing addresses?

It is known that the type of computing power required for mining is the same used to generate addresses, and it is known that "in general" it is much more profitable to simply mine, rather than try to ...
7
votes
4answers
995 views

World-wide price for generating 1BTC

Can we find an algorithm to compute the average price (as energy consumption) of 1 BTC being generated if we know: hash rate, difficulty, energy price?
7
votes
3answers
6k 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
votes
2answers
14k views

How much is a mining pool share worth on average?

I know that mining pool shares have no value on their own, but it should be possible to find an average value based on the pool's average payout per share. This site describes the expected payout per ...
7
votes
1answer
12k 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 ...
7
votes
3answers
3k views

Why do people mine bitcoins when they are losing 20% a month?

Why do people continue to mine bitcoins independently 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?
7
votes
1answer
2k views

Why does Bitcoin not have faster downward difficulty adjustments?

The BCash fork seems to have correctly anticipated the need to adjust difficulty downwards in the case of very slow blocks. This means it's much less likely for the chain to be orphaned when it was ...
7
votes
3answers
17k views

Is a cloud mining subscription worth it?

I just started investing in Bitcoin and before I actually implement it, I want to verify my strategy / steps. 1) I made a wallet account on blockchain. 2) I want to purchase subscription from ...
7
votes
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 ...
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?