32

One of the most common reasons for which miners go offline is when their profitability drops below the cost of electricity - this could either be the result of the BTC price dropping, or their local operating costs (costs including air conditioning, power, networking, hardware depreciation, etc.) rising, or the total network hashrate rising faster than they ...


28

A device that consumes N watts of power (and doesn't output electricity or some other form of energy) will eventually produce N joules of heat per second. Thus, if your goal is converting electricity to heat, every piece of hardware that consumes electricity is 100% efficient. It's completely irrelevant what happens with that electricity before it becomes ...


26

A typical USB block erupter will get 333MH/s under realistic conditions. Today, a share is worth about 1/156 of a penny and 333MH/s will get you a share every 13 seconds. That comes out to 43 cents per day per erupter, not counting the cost of electricity. Difficulty is going up, and thus profitability going down, around 25% per month. So you can figure ...


25

There's a factor called Difficulty, the more hashing power exists on the network the more difficulty exists, therefore it's harder to mine coins. Right now The difficulty factor would let you recover your money fast because almost no one has ASIC chips, when they ship in bulk the difficulty factor will rise to 30-120 million during the year. To know by how ...


22

First a bit of perspective on FPGA mining. ​ Around 2011 some miners started switching from GPUs to FPGAs, (Field Programmable Gate Arrays), after the first implementation of Bitcoin mining came out in Verilog, (a hardware design language that’s used to program FPGAs). The general rationale behind FPGAs is to try to get as close as possible to the ...


21

It means that there will be no significant speedup by implementing the algorithm in an ASIC, as compared to a CPU based implementation. This is usually achieved by requiring a lot of memory, which when implementing this on an ASIC, translates to needing lots of physical area on the chip. ASIC implementations derive their power from having many physically ...


15

Summary: different approach to calculations. Nvidia GPUs are more like CPUs, in that they have only a few processors that do work, but faster. ATI GPUs have slower processors, but a lot more of them. You can find a more complete description on the relevant wiki page : Firstly, AMD designs GPUs with many simple ALUs/shaders (VLIW design) that run at a ...


15

An ASIC is another way of running a program or calculation or what have you (in our case mining) using a PCB/Hardware instead of Software running on a general purpose computer. GPUs are technically ASICs, their application being graphics processing and output. ASIC resistance means your crypto is more fairly distributed because their is no centralization ...


13

There is a nice wiki page here: https://en.bitcoin.it/wiki/Mining_hardware_comparison The raspberry pi is listed by its processor in the arm section: ARM1176JZ(F)-S. It gets 0.2 Mhash/s when clocked at 800 MHz.


13

Not if you don't have one already. The trouble is that you don't know when you'll receive your device and, as @user3418 says, the difficulty will be rising in the meantime. Butterfly Labs (who manufactures the device you're talking about) has only just started delivering devices, and already has a large number of pre-orders. You probably wouldn't receive ...


11

Keep in mind that difficulty also evolves over time: the more hashes the network produces, the higher the difficulty becomes. As of this writing the difficulty is 148,819,199. By my computation, each additional 275GH/s rig that joins the network will increase the difficulty by about 40,000; if 4,000 of them are sold, the difficulty will more than double (...


11

Any CPU can still be used to mine Litecoin, although much less effectively as a modern AMD GPU could. Mining with a CPU gives you very bad hashrate therefore I wouldn't recommend it. Even a high end CPU will not give you the hashrate of a mid range GPU. You should use a graphics card (GPU) to mine litecoins or switch to another coin Additional Information:...


11

It may be practical to use a miner to provide some of the heat for your home, bringing some miners into your home during the cooler months and moving them elsewhere during summer. It's pretty much 100% efficient at converting electric energy into heat energy. (vs. a heat pump being about 300% efficient1, moving existing heat from outdoors as well). Even a ...


9

The answer is constantly changing, but this is something you can calculate yourself. Look up the current Bitcoin difficulty value. Right now it is 460,769,358,091. Let's use scientific notation: 4.6e11. The difficulty determines the average number of hashes needed to mine one block. A minimum difficulty of 1 corresponds to 2^32 = 4.3e9 hashes, so we need ...


8

ASICminer did decide to keep the hardware and mine. They're selling shares with intent to payout the dividends from whatever profit is made. However, Avalon and BFL didn't choose the same path. As to why, some people believe it's far better to "sell the shovel" than "dig for gold". No one knows what the exchange rate or mining difficulty will be in 3 months ...


8

I think you misunderstand the problem. The reason mining is becoming impractical is because there's too much of it. It's like a restaurant that's too crowded. It means you can't get a table, but the restaurant is not going to go out of business.


8

TL;DR. Bitcoin profitability is about choosing between buying BTC outright (Coinbase, or Bitstamp) or buying hardware ASIC miners and paying the ongoing electrical fees. Edit: To keep mining expenses low, you will need the cheapest form of electricity. This usually means coal in most regions. "Clean coal" doesn't exist. 10 years from now is a long time, ...


8

The part you are missing is that it is a preorder and the current estimate is that if you ordered now, you would likely not receive your mining hardware until April 2014. This site shows a good calculator and I have configured it to show the (lack of) profits you would make if you started mining with this miner starting in April: http://mining....


8

There are memory intensive mining algorithms, but usually the "memory" being discussed is not of the DDR3 variety. That 64 GB of DDR3 RAM you have is an excellent resource for many computing tasks (and enough to make me jealous), but is also dramatically slower than the L1 and L2 cache physically on the chip with your CPU. This is the memory we're talking ...


7

Let me describe when a hash function can (not) be calculated efficiently by using ASICs or GPUs: ASICs: I'm speaking of simple in design, cheap ASICs, because in theory you can design an ASIC for every digital function. Simple ASICs are mostly designed for linear workflows. So they do not use loops (or loops with a hardcoded count), no recursion and a very ...


7

For anyone coming across this and wondering if USB miners are still profitable. Try this site. But short answer is not anymore. Bitcoin mining has become a big game for big players. Rather invest in big group buys, or convert to scrypt. Scrypt mining is mining alt-coins (Litecoin, Feathercoin, WorldCoin, etc). You cant scrypt mine with the Bitcoin Asic ...


7

The mining difficulty is going up very fast. You are correct. But the mining industry is also stimulating the Bitcoin economy significantly. See this news story, for instance: KnCminer sells $3M of bitcoin mining equipment in 4 days My best answer to your chart is another chart: From: https://blockchain.info/charts/miners-revenue Even with the bitcoin ...


7

Litecoin uses a different proof of work than Bitcoin, so that hardware won't be compatible(it won't be solving the right problems). One of the motivations of Litecoin was to make CPU mining viable by making it difficult to create efficient GPU/FPGA/ASIC miners, so it's unlikely that you can find specialized hardware for this purpose. I think that some GPUs ...


7

No, you can't. And this has nothing to do with the operating system. Your hardware has a bitcoin ASIC chip made only for doing Sha-256 calculations. Litecoin uses the Scrypt algorithm. Sha-256 and Scrypt are not the same, so what you are suggesting is impossible. You can mine other Sha-256 coins instead of Bitcoin.


7

Let's try to make a rough estimate. Intel's article Intel SHA Extensions gives some details on these instructions as well as sample code. The main feature is the sha256rnds2 instruction, which performs two rounds of SHA256, out of the 64 rounds that are needed to hash one 64-byte block. A Bitcoin header is 80 bytes long, so that's 2 blocks, and because ...


7

I set up my rasp pi b+ and U3 mining rig using the instructions in this forum post, with screen and cgminer. The command relevant to over clocking the raspi that I used is the following: sudo ./cgminer --bmsc-options 115200:0.57 -o POOL -u USERNAME -p PASSWORD --bmsc-voltage 0800 --bmsc-freq 1286 Those last two options (bmsc-voltage and bmsc-freq) are ...


7

TL;DR: ASIC input/output is the bold text below. No, the ASIC does not assemble a block. The block is assembled by a mining pool server. If you are solo mining you could let bitcoind assemble the block but you'd still need mining pool or proxy software in between to make a modern ASIC machine (stratum only) and bitcoind (getblocktemplate only) communicate. ...


7

The AntMiner S9i 13.5 TH/sec model requires 101.5 Amps DC. Since power (watts) is equal to voltage multiplied by amps, the total power consumed by the AntMiner is 1218 watts (+/- 10%). Note, this is regardless of whether that's AC or DC, and regardless of voltage. 1218 watts is 1218 watts, or if you run it for an hour, 1.218 KW/hr. In my case, that works ...


6

You can't build ASIC hardware yourself. It costs hundreds of thousands of dollars to develop an ASIC and, by definition, you can't buy them off the shelf. (The "AS" stands for "Application Specific", that is, it must be designed for a particular purpose.)


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