Topic: Bitcoins Mining (Read 664 times)

Please move you ask to mining form will find better help

as general it is hardware operation with high power supply and noisy

bitcoin mining is one of the most perplex methods of earning bitcoin. it is like 'mining gold' (my own imagination) that we should search the source then start to hoe at that. but the difference is you will not see view like mining gold. you only see batch of sentences which not everyone would understand  appears on your dekstop as like you do test ping connection. it is hard to explain its complete methods.

Mining in simple terms is treasure hunt basically what your set up does is solve algorithms to free coins into your system. You ve seen this many times already but i have reiterate it, very power consuming and the VGA and the powerful computers and all you will need for your set up requires you to sit and analyse if you can even break even before you make the step

Yes you can earn a lot more with mining however, to start with, you will have to invest a lot of money to build up mining rigs. You can't just make bitcoin from your high-end gaming PC. It requires a lot more power because the difficulty is very high for bitcoin. So instead you can start mining other altcoin whose difficulty is lower at this moment and then exchange that altcoin in to bitcoin. But unless and until you have a very expensive set of mining rigs, that chance of earning anything is zero.

- Bitcoin mining is the process by which transactions are verified and added to the public ledger (Blockchain), and also the means through which new Bitcoin are released

- to start mining you can buy ASIC or invest in cloud mining

I've put your mistake in big, bold letters...

https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison

The best single GPU on that list hashes at 0.9 Gh/s with an extra power draw of ~400 Watt (extrapolated from the 2x Ati 6990 rig). Granted, this list hasn't been updated in a while, but it's not like the new GPU's are 50 times more efficient (actually, at the time of writing, the new GPU's would have to be 1000 times more efficient than the GPU's on this website just to break even... This is certainly not the case).

If we plug these values in coinwarz at current diff and btc price with a 7 cent/Kwu power price and a 1% pool fee:
https://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=0.9&p=400&pc=0.07&pf=1&d=1103400932964.29000000&r=12.50000000&er=3859.50010000&hc=0.00

You net LOSS would be $0.67/day if you ran this setup.

Sure, if BTC prices rose to extreme heights, you might break even in the end, after holding your mined coins for decades. But if, instead, you bought BTC directly with the money you would have spent on your power bill, your profit would be much higher than when you mined at a loss and kept your btc untill the price was so high you were ROI'ing.

Proof of this statement:
1) you mine with 10 GPU's at 9Gh/s consuming 4Kw for one year...
power costs: ~$2500
Income: 0.00074863 BTC
The BTC price would have to go up to 3.34 million USD per BTC in order for you to break even. If, at the time one BTC costs 3.34 million USD/BTC, you sell your 0.00074863 BTC, you would have ROI'd (no profit, just broke even)

2) If you bought $2500 worth of BTC today, you would get 0.68 BTC
costs: ~$2500
Income: 0.68 BTC
If, just like in the first example, the BTC price would rise to 3.34 million USD/BTC, your 0.68 BTC would have a net worth of 2.3 million USD.

So, in conclusion, buying BTC and holding it would be about 900 times more profitable than mining with a GPU and waiting untill the mined BTC are worth enough to break even

If your energy is less or maximum at 0.07 dollars/kilowatt then it is worth to mine bitcoin yourself, with a mining rig with multi graphic cards or with an antminer S9. This is only to be done if you are willing to wait a long time until bitcoin price goes up a lot and you make a lot of profit but it is not worthy if you want to run it for a short time and in fact is not recommended for this scenario. If you are in for short term better buy bitcoin directly and wait until the price of bitcoin goes up.

Bitcoin mining is a process of mathematical calculation performed on Bitcoin tissue. As we know, bitcoin runs in an online system, and the purpose of mathematical calculations is to verify the bitcoin transactions that exist on internet. By doing the verification, bitcoin miner will get a new block gap on bitcoin network containing a new amount of bitcoin and can be taken. That's where a bitcoin miner will get bitcoin for himself, more the verification process and the new block creation, bitcoin that can be mined will be more. Doing a mining, having a computer device with a high specification is a liability, i also haven't yet to be able it because the capital must really mature for doing a mining.

Bıtcoin mining simply is taking next block candidate's sha256 hash and comparing it with target number(sha256 hash).if next candidate block's hash is lower than target hash .. candidate block becomes part of chain and miner earns reward from coinbase (currently 12.5 BTC)

Alas, but for ordinary people do not have sufficient number of zeros in my Bank account, bitcoin mining not profitable.

A profitable mining venture can only be obtained if you invest in ASIC chips. An application-specific integrated circuit (abbreviated as ASIC) is an integrated circuit (IC) customized for a particular use, rather than intended for general-purpose use. In Bitcoin mining hardware, ASICs were the next step of development after CPUs, GPUs and FPGAs.

The difficulty in Bitcoin mining, made mining with a GPU or CPU's obsolete, because people only mine Bitcoin now with these ASIC chips. 

These ASIC's are expensive and it takes a lot longer to get a return on your investment, so you will have to make sure that you do your calculations before you start with Bitcoin mining. ^hmmmmmm^

Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

i also want to try for bitcoin mining, for now i am still looking for references for hardwere used and how much capital to start mining bitcoin. according to info from my friend who has been mining bitcoin, need big capital to start mining bictcoin. so for now I am still the process of raising capital to make hardwere for bitcoin mining.

I doubt that, I dont really like mining. because very much money I spend, and its uncertain endurance. I prefer investing and trading, more real and more easily understood.

if you want to start mining, you haveur has a large enough capital for it.

Yes you heard it right you can earn alot of bitcoins and fiats in bitcoin/cryptocurrency mining but before you earn that good amount of money you will throw away and spent a big amount of money before starting mining

Only huge companies are mining btc right now.

There is no full tutorial on youtube to understand his, a friend advice? get away from it, look for other money, better, much better than mining ..

You're too lazy to Google yet you're not lazy enough to create a thread that has been made a thousand times before so as to have the answer spoonfed to you?
Sorry bud but Bitcoin mining isn't really for you.

If you would like to do a mining of cryptocurrency, you should always to be aware in the last technical innovations of hardware for that. What do you think about the two new devices, produced by BitMain: G1 and G2, which developed on basis GeForce's and Radeon,s video cards?


kevin.

if you have a lots of money to invest with and I can that mining can be profitable for you as we really finding ways to earn inside crypto mining is also
one of those options to gain with, better to research first if whats your capacity about it and learn from the expert which will give you some guidelines.