Mining survey | Bitcointalksearch.org

QuintLeo

legendary

Activity: 1498

Merit: 1030

Yes, transaction fees might (are likely to IMO) increase over time - but RIGHT NOW they are insignificant compared to 25 full Bitcoins (or even the 12.5 after the next halfing) for the block reward.

They might add up over time - but it would take a LOT of blocks to get ton ONE bitcoin on transaction fees alone at this point.

To get back to the OP, the cost of mining has ZERO significant effect on transaction fees right now, but that will eventually change as the block rewards keeps getting halved - most likely won't be significant for a decade or more though.

Quote from: hunterx on April 09, 2016, 04:41:40 AM

What is the best way to mine? Any advice?

Move to an area with VERY VERY cheap electric, then wait for the 14/16nm Full Custom machines to start getting produced - or look seriously into various Altcoins for the short term. Possibly both.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: QuintLeo on April 10, 2016, 01:48:04 AM

Transaction fees RIGHT NOW are pretty much insignificant. This will change eventually, as the block reward halfings keep happening, to the point that the transaction fees will have to be enough to support the miners - but that point is quite a few years off.

I would not say totally insignificant they can up over time especially. Antpool keeps the transactions fee's, if they put these in cold storage for a few years hard to say what they will have for keeping just the transaction fees for pool.

Most other pools spit it with miners and it does make it smaller. But a pool that keeps all of it can lead to sizeable amount.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Transaction fees RIGHT NOW are pretty much insignificant. This will change eventually, as the block reward halfings keep happening, to the point that the transaction fees will have to be enough to support the miners - but that point is quite a few years off.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: philipma1957 on April 09, 2016, 10:15:49 AM

Quote from: hunterx on April 09, 2016, 04:41:40 AM

What is the best way to mine? Any advice?

First. Tell us what you pay for power.

Right now there is a bubble with eth coin

You need a decent gpu rig and it will make some coin even if your power cost is 15 cents a kwatt.

If you have low power cost like 5 to 7 cents a kwatt you could try Mining Bitcoin

So your power cost is very important.
Your budget do you want to spend 100 or 1000 or 5000

Your ability to handle noise and heat.

I have been heavy on btc for more then a year,but the eth coin bubble now has my attention for two reasons

It makes money and for now is using less power then btc

If your mining bitcoin having area for the gear makes your life much easier. I have a mining area at this point. Some gear like S7's are just loud and so is bitmain PSU's with the little fan's. Some do not realize how much noise these machines can make.

Heat as coming as we go into summer months so some places this is a huge thing. My weather makes evaporation cooling not a option. So I use big fan's with high CFM's to get through the summer mounths. And this is made easier with having a area dedicated to mining.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: hunterx on April 09, 2016, 04:41:40 AM

What is the best way to mine? Any advice?

First. Tell us what you pay for power.

Right now there is a bubble with eth coin

You need a decent gpu rig and it will make some coin even if your power cost is 15 cents a kwatt.

If you have low power cost like 5 to 7 cents a kwatt you could try Mining Bitcoin

So your power cost is very important.
Your budget do you want to spend 100 or 1000 or 5000

Your ability to handle noise and heat.

I have been heavy on btc for more then a year,but the eth coin bubble now has my attention for two reasons

It makes money and for now is using less power then btc

hunterx

member

Activity: 72

Merit: 10

What is the best way to mine? Any advice?

dodadoo

newbie

Activity: 56

Merit: 0

Quote from: philipma1957 on March 28, 2016, 01:04:08 AM

Quote from: FaucetDev on March 28, 2016, 12:56:52 AM

Is this the same for other Cryptocurrencys?

700USD http://www.amazon.com/Antminer-~4-73TH-25W-Bitcoin-Miner/dp/B014OGCP6W

Im looking for Miner specs, since I have access to pc distributors, I may create my own server if I find it worth it. So far seems worth it. But Im not fully gasping the concept of mining bitcoins yet.

I have "free" electricity.

if you have 2kwatts per hour 24/7/365 you can run 2 s-7's clocked down to 4000gh esach total of 8000 gh

2 kwatts per hour is 8000 btus of heat and the gear is loud

but if you have free the free power of 2 kawtts a day and buy two s-7's my guess is in a year you could 2x the money invested.

that is a guess not a certainty.

Wow is too much that

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: FaucetDev on March 28, 2016, 12:56:52 AM

Is this the same for other Cryptocurrencys?

700USD http://www.amazon.com/Antminer-~4-73TH-25W-Bitcoin-Miner/dp/B014OGCP6W

Im looking for Miner specs, since I have access to pc distributors, I may create my own server if I find it worth it. So far seems worth it. But Im not fully gasping the concept of mining bitcoins yet.

I have "free" electricity.

if you have 2kwatts per hour 24/7/365 you can run 2 s-7's clocked down to 4000gh esach total of 8000 gh

2 kwatts per hour is 8000 btus of heat and the gear is loud

but if you have free the free power of 2 kawtts a day and buy two s-7's my guess is in a year you could 2x the money invested.

that is a guess not a certainty.

FaucetDev

newbie

Activity: 41

Merit: 0

Is this the same for other Cryptocurrencys?

700USD http://www.amazon.com/Antminer-~4-73TH-25W-Bitcoin-Miner/dp/B014OGCP6W

Im looking for Miner specs, since I have access to pc distributors, I may create my own server if I find it worth it. So far seems worth it. But Im not fully gasping the concept of mining bitcoins yet.

I have "free" electricity.

FUBAR-BDHR

hero member

Activity: 702

Merit: 1000

★The Best Adult Video Chat Platform★

Quote from: FaucetDev on March 28, 2016, 12:19:44 AM

So, what do I need to mine?

Entry level is probably an Antiminer S7 it's 4.7th/s. Now what you really need is really cheap electric if you ever hope for the miner to pay for itself.

FaucetDev

newbie

Activity: 41

Merit: 0

So, what do I need to mine?

FUBAR-BDHR

hero member

Activity: 702

Merit: 1000

★The Best Adult Video Chat Platform★

50mb is a bit low for a PC. I used to get just over 1gh on mine that's I7 12 core and a radeon 6990 vid card. Still it's probably not fast enough to even register on a pool these days. Entry level now is like 1th/s (probably more like 4.7th/s).

Here is what my PC would do on average mining bitcoin today:

Code:

The expected generation output, at 1 ghps, given difficulty of 165,496,835,118.226348876953,
 is 0.000003038768 BTC per day and 0.000000126615 BTC per hour.  
Given this rate it will take you 901 years, 30 weeks, 5 days, 17 hours, 7 minutes, and 3 seconds to make 1.0 BTC

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: FaucetDev on March 27, 2016, 10:40:25 PM

How do I get Hash Rate (GH/s)? Lets say Im using a PC with i5 and integrated graphics. What would be the Hash Rate (GH/s) of it? And what is a good pc to mine?

Also, What are popular pool rates? I have never mined. Im curious since I have "free" electricity and 2KUSD a year, its worth it to me. (2kUSD is from the calculator basic stats)

a drop in the ocean..

I think 50mb for a pc is about right.

the time to use a pc 's cpu has long past.

a 25 dollar usb stick the compac does 6gh to 16gh or 120 to 320 x your pc's rate

here is the thread

https://bitcointalksearch.org/topic/run-2-closedsidehack-stickgekkoscience-compac-official-sales-thread-1126705

if you are in the usa

https://bitcointalksearch.org/topic/asicpuppynet-terminus-moonlander-2-2pacs-in-stock-btcltcethbch-612390

or

http://holybitcoin.com/product/gekkoscience-compac-bm1384-stickminer/

or me send a pm

FaucetDev

newbie

Activity: 41

Merit: 0

How do I get Hash Rate (GH/s)? Lets say Im using a PC with i5 and integrated graphics. What would be the Hash Rate (GH/s) of it? And what is a good pc to mine?

Also, What are popular pool rates? I have never mined. Im curious since I have "free" electricity and 2KUSD a year, its worth it to me. (2kUSD is from the calculator basic stats)

VirosaGITS

legendary

Activity: 1302

Merit: 1068

Quote from: BitBoyDonny on March 11, 2016, 10:19:17 AM

Hi

I am conducting research into the cost of mining a block and the effect this cost has on transaction fees.

Please let me know in this topic whether you are interested.

http://www.coinwarz.com/calculators/bitcoin-mining-calculator has your answer. And its random, finding a single block that is. So it could be seconds, or years for a single person.

No idea what you mean by "effect of finding a block on transactions fees" a single block doesn't change much, but it will include TXs out of the mempool, if several blocks are found in quick succession, lower TX fee may more easily be included at that time, but it doesn't change the TX fee overall. And the TX fee is not arbitrary, you could try a TX with 0 fee as well, or 1BTC.

BitBoyDonny

newbie

Activity: 2

Merit: 0

Hi

I am conducting research into the cost of mining a block and the effect this cost has on transaction fees.

Please let me know in this topic whether you are interested.

Topic: Mining survey (Read 1736 times)