At current rewards, in order to mine 5000 DGB with modern SHA-256 ASIC equipment, you'll need ~2.4 kWh. With modern Scrypt ASIC equipment you'll use ~7.5 kWh. And with the GPU algos (all very similar) you'll consume ~9.9 kWh.
As you can see, there is quite a bit of difference between SHA-256 and GPU, but whether that difference is enough to cover your fixed hardware investment or not, that is if you buy an Antminer or not and can reach ROI, for example, is up to you to figure out.
The difference between scrypt ASIC and GPU is much less pronounced, but if you've already got a gaming rig set up, it probably won't take too much convincing to just use what you've got and get with installing and configuring your miner since we're only talking about 30-40 cents a day of difference.
Edit: I've always been in favor of rotating out SHA-256 and substituting it with a more widely distributed friendly algo BTW.
I have some old laptops that are no use to me but they still work, I may try to eliminate the display and why not the hard disk too, to minimize the electricity consume, I have like 4 2 (Pentium 4) and 2 (core 2 duo) I may use there cpu.( I have a electronic degree, that won't be a big of a deal)
without forgetting my nvidia.
I tried to do some calculation but, I had really big struggle with mining !! I downloaded the soft and followed the instruction, but my ind kept telling me that I'm not mining, so I changed to the websites that had worker thins so I started mining with there url etc.. and my worker status kept being inactive.
so I had no luck testing my stats.
Hi Crazy.
The current block reward is about 1054 (it is reduced every month). A block is discovered on the network every 15 seconds. We have 5 mining algorithms (SHA, Scrypt, Groestl, Skein, and Qubit). As a result, you could figure that a block is discovered per algorithm about every minute 15 seconds. Total daily mining rewards are just over 6,000,000 DGB per day. Each mining algorithm has a different difficulty level that is adjusted asymmetrically between blocks (to reduce mining pool attacks). We call the difficulty adjustment "MultiShield," which is the newer version of DigiShield.
There are 2 ways to mine: (1) you could solo mine; or (2) you could mine in a mining pool. When you solo mine - if you find a block - you receive the whole block reward. When you mine in a pool - if you find a block - the block reward is shared by all the people in the pool who contributed hash rate during the period that the block was found. Most people mine in pools. It's easier to set up and it creates less variance in rewards over time. For instance, if I were mining solo I might find a 5 blocks a day. I would get all the rewards - so I would get 5270 DGB if I found 5 blocks. But, some days I would find no blocks. Other days I might find more than 5 blocks. So my rewards would be highly variable on any given day.
When I mine in a pool, I combine my hash rate with everyone else mining in that pool. For the Official DigiHash Pool, the hashrates (and thus rewards) are divided into different algorithms. The combined hashing power allows the group to find blocks more frequently than people who are solo mining. The pool might find approximately 100 blocks per day. The reward per block is less per block, but the variance of reward payout is smaller. In the long run (i.e. over indefinite amount of time) you would theoretically get the same rewards mining in a pool or mining solo. However, in practice, mining pools allow miners with lower hashrates to earn regular rewards more quickly (a fact that is especially true with coins that have a high difficulty - such as BTC).
I would recommend that anyone new to mining DGB start mining in a pool. I would recommend using the official Developer DigiHash Pool because it helps support DGB.
If you intend to mine with a GPU, you will want to use any of the algorithms EXCEPT SHA-256. SHA is pretty much all ASIC at this point. Scrypt is both ASIC and GPU, but the GPU hash rate is going to be tiny compared to the ASIC. I'm not an expert at GPU mining (I haven't done it for about 3 years, and I've forgotten pretty much everything). If you do not want to use the DigiHash Easy Miner software, you will need to set up some mining software on your computer. You might try something like multiminer (which is a GUI running on top of BFG miner). I've never tried it for DGB and I'd be interested to hear if anyone has?
The truth is that nobody can tell you exactly what your mining rewards or costs will be ... it doesn't matter what anyone posts here or anywhere else. People can give you rough estimates. You can attempt to use mining calculators to get rough estimates. But, the final result depends on many different variables (difficulty at any given moment for the algorithm you are mining, settings for the GPU, cost you pay for electricity, hashrate of the GPU, mining pool, exchange rate, need to sell to cover costs or ability to hold and trade at moments of opportunity, etc.). I do remember when I was GPU mining. It involved lots of little tweaks to get the most efficient settings and highest rewards.
I've been mining DGB for about 1.5 years (I don't mine any other coins). I mine with a scrypt ASIC, and I don't mine in the summer because it's too hot. I actually have a couple of different ASIC rigs that I use (and have used) throughout the year (and years). I stated mining about 3.5 years ago with GPUs for LTC and small ASICs for BTC.
Here is my best advice based on my years of experience mining:
I think you should try it. It's fun, it's addictive, and it's a valuable way to understand digital currencies at a more fundamental level. You're not going to get rich doing it. I think people should start mining for a couple of reasons. First, it is a good way to begin to understand and experience digital currencies at a deeper level. It's not just trading; it's participating and supporting. Don't invest tons of money into mining at the beginning. Learn about how DGB works and start slow. The second reason people should mine is because they believe in DGB and want to help support the network.
thanks you that's a clear explanation.
I prefer taking a chance and having the block reward to my self.
and I'm drooping the idea of mining with a CPU.
btw the Scrypt ASIC is a CPU, why does it mine better than normal CPU, is it customized for that use only, and why not customized the laptop CPU to do the same . I'm going to give it a look.
I concluded from all this that mining is dying. and can be used as a tool to learn. and to knowledge more about the crypt-world
By the way ... if you're going to solo mine ... you'll need to do some modification to the DGB Core Wallet to turn on the server functionality of the wallet. It's pretty simple command line stuff but I've never done it so I'm not qualified to give you instructions. But, I'm sure someone here will be able to help.
I'd seriously advise against solo mining. Pooled mining means lower but guaranteed payouts. Solo mining means you'll get the entire block reward but you may never (and I do mean never) find a block.
That being said if you do want to solo mine you need to add a few options to your digibyte.conf
rpcpassword=password
rpcallowip=127.0.0.1
listen=1
daemon=1
server=1
you would then run the digibyte wallet and point your mining software at http://127.0.0.1 with the username "user" and password "password".
Having a crappy internet connection will also hurt you when solo mining as any block you do find will need to be populated with transactions and broadcast over the network before any of the competing pools/miners and with 15 second block times its made even harder to do that.
Think of an ASIC like a specialized CPU. It's been programmed to do only one thing but it does it far better than a general CPU could.
There's a detailed solo mine HOWTO on the OP and on my forum that have already been graciously provided to this user before he came back with smart assed remarks questioning the validity of around 3 hours of numbers crunching on my part. Then when he starts being a cry baby, you all start groveling. What are people to think when you're groveling in front of someone who demonstratably despises hard work and then starts whinning when you make things very clear? At very least, people will say you have problems discerning between people who yank your chain and people who contribute value. You've got a HOWTO on the OP! He's been pointed to a wealth of information, and you still grovel? BTW, How are things going with the DiguSign search of signed embedded documents? I suppose that's been fixed since you find the time to engage in activities that are a waste of time and self humiliating.
Come to think about it, what's the old saying? Birds of a feather fly together? Maybe you're all just alike? Have you ever seen anywhere, not just here with DGB, but anywhere crypto, an analysis as comprehensive as the one I did the other day about mining returns on electricity used? You make than kind of effort and it's followed by babbling gibberish? Frankly it's mind blowing, especially when it answers the all too frequently asked question as to why price is being kept down! The question that immediately comes to mind is if I am surrounded by ingrates, idiots, or losers. And that analysis also clearly shows that mining IS PROFITABLE, for SHA-256, and would be for GPU, if SHA-256 weren't present. What everone's problem? Too tough? Too advanced to deal with? Is it easier to act like a baffoon?
Tone it down and give it a rest mate.