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

Generally, it's not worth your time and effort to mine at home! (Some exceptions may apply.) Age of ASIC mining CPU mining has been unprofitable since 2011, GPU mining just slightly later. Today, ...
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  • 62.4k
29 votes
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Does bitcoin miner heat as much as a heater

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 ...
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25 votes

Why don't miners charge more for high value transactions?

Miners don't charge anyone. Users put aside some amount of satoshis to incentivize a miner to include a transaction in a block, as the miner takes those satoshis if they are successful in mining that ...
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  • 3,190
23 votes
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Current FPGA Competitiveness

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 ...
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20 votes
Accepted

Why doesn't the same miner always win?

Mining is not won by the miner with the "strongest ability to solve the block". Mining is a random progress-free process. Each block candidate independently has a tiny chance to be a valid ...
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  • 62.4k
19 votes

Why would anyone sell a Bitcoin miner instead of just mining themselves?

The difference is that with cloud mining, all you are doing is lending the company money. And you are expecting them, for no rational reason, to pay you back an interest rate higher than they would ...
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16 votes
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Why do leading ASICs manufacturers sell their chips?

I think the simple answer is that a company doesn't have to be a "Bitcoin believer" in order to manufacture Bitcoin mining hardware. The companies that produce ASIC chips also produce other products ...
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  • 8,724
16 votes
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Is there a logical reason to buy bitcoin for more than it costs to mine it?

Mining: It's a lot of trouble and expensive to set up a proper rig and the return on investment can take a long time when mining. It's not as cheap or profitable to mine the coins as you make it seem. ...
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14 votes

Solo mining just for luck, realistic?

As long as you're in good communication with the network and have a hashrate measured in something better than minutes per hash, yes, you technically do have a chance of successfully mining a block, ...
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  • 4,327
14 votes
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Is Gpu mining still an option?

Thanks for asking this question. I see a lot of people all the time who assume GPU mining is profitable. Try googling "bitcoin mining calculator" and see. Presently (in 2015) the calculator will ...
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  • 8,319
13 votes
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Is Lightning Network a risk for Bitcoin security since it reduces miner fees?

The idea that Lightning will reduce the amount of fees going to miners is very common, and we probably won't know for sure until we actually try it. However, I'll try to provide some arguments as to ...
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  • 8,694
12 votes

Javascript Bitcoin miner is it even worth it?

It is true that mining Bitcoins like this is impossible. (I can't speak for altcoins though.) Let us run through a back-of-envelope calculation based on some facts and assumptions. Network hash rate ...
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  • 883
12 votes
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Why don't miners charge more for high value transactions?

The biggest counter question is identifying what constitutes high value transactions. Bitcoin works on an Unspent Transaction Outputs (UTXO) based model rather than an account based model. The input ...
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  • 6,898
12 votes

Does bitcoin miner heat as much as a heater

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%...
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12 votes

Where to find exact number of hashes required to mine most recent block?

You cannot know how many hashes were actually performed for every block, because non-winning hashes aren't published. There is however a simple formula to compute the expected number of hashes a block ...
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11 votes

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

The extent of human involvement in mining is to get the software and hardware and then run the software on the hardware. No one actually has to sit at a computer and do anything in mining. They don't ...
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  • 60.4k
11 votes

How would faster blocks cause mining centralization?

Why faster blocks? This conversation often starts with someone pointing out that shortening the block interval would allow for a quicker first confirmation, reduce variance in mining revenue, and ...
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  • 62.4k
10 votes
Accepted

Energy consumption while mining

Just for fun. Many actions can't be explained from the point of view of logic
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  • 6,532
10 votes

Is it possible for a slow computer to beat the world mining Bitcoin?

It is of course possible... however it is incredibly unlikely! Mining with a CPU has not been profitable since the earliest days of bitcoin, the expected time to find a block is likely on the order ...
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  • 17.2k
9 votes
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Lottery Mining?

Unless the lucky winner were to announce his luck, there is no way for anyone to tell the difference. So, even if one cannot find any information suggesting that someone did, it could have happened. ...
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  • 62.4k
9 votes

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

Laptop mining worked well in 2009. It is no longer 2009. Your integrated Intel GPU has the speed of a CPU, not a fast gaming GPU. Even in 2011 when CPU mining was dying and people mined on GPUs your ...
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  • 8,319
9 votes

Beginner's question: Why must proof-of-work be useless?

In addition to the technical factors mentioned by MCCCS, it's important to consider economical factors as well. If the problem being solved has value outside of the Bitcoin network, it allows miners ...
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  • 16.4k
9 votes

Why would anyone sell a Bitcoin miner instead of just mining themselves?

There's a couple of reasons I can think of: They might not think mining is profitable and are simply looking to sell hardware and treat BTC miners as a good target market, media attention probably ...
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  • 191
8 votes

How will bitcoin stay decentralized when mining becomes extremely expensive?

This is a valid concern and I think nobody can give you a clear answer here. We'll just have to wait how it evolves and how people react; it is an unclear future. There are some ideas about changing ...
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  • 1,394
8 votes

Is there a logical reason to buy bitcoin for more than it costs to mine it?

You are talking about two very different investment options. One is investing cash into a type of commodity that has shown extremely high volatility; the other one is investing low amount of cash, but ...
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  • 181
8 votes

What is the estimated price of Bitcoin which will push miners to stop mining if its price dropped to uneconomical level ?

When a bitcoin was worth less than $10, miners were mining. When a bitcoin was worth more than $15,000, miners were mining. The key point is that there is no exact price that would make mining ...
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  • 17.2k
7 votes
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What is the algorithm to create a Bitcoin mining calculator?

I want to give an extended answer as I found the pre-existing here or elsewhere in need of a bit more clarification, specifically for newcomers. Formula In order to calculate the approximated total ...
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  • 251
7 votes
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In the case that I have free electricity, is mining worth it?

First, mining does not require a lot of bandwidth. Whatever you have is likely enough. Second, mining profits (in bitcoin, not some currency after exchange) is determined by difficulty. Difficulty ...
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  • 1,638

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