What are the calculations behind working out mining profitability

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: Philopolymath on August 17, 2017, 06:58:50 PM

First you must know what astrological sign you are..
I'm Capricorn
Next most important is... Do you live near a Volcano?
Can you find any Virgins to sacrifice to the volcano? This is BIG HELP...

Do you like Country Music?....Very bad karma....consider favouring polkas instead...

If you answered yes to any of these

you are ready to be initiated into the SACRED ORDER OF PROFITABILITY CALCULATORS...at the first degree..
Now kill a chicken and make acloak out of the feathers and wear it for a weak then get back to me for further instructions.

Chickens are passe.

Don't you know that stool pigeons are where it's at?

Philopolymath

sr. member

Activity: 558

Merit: 295

Walter Russell's Cosmogony is RIGHT!

First you must know what astrological sign you are..
I'm Capricorn
Next most important is... Do you live near a Volcano?
Can you find any Virgins to sacrifice to the volcano? This is BIG HELP...

Do you like Country Music?....Very bad karma....consider favouring polkas instead...

If you answered yes to any of these

you are ready to be initiated into the SACRED ORDER OF PROFITABILITY CALCULATORS...at the first degree..
Now kill a chicken and make acloak out of the feathers and wear it for a weak then get back to me for further instructions.

QuintLeo

legendary

Activity: 1498

Merit: 1030

The period starting around March of this year has been one of the 2 most profitable cryptocoin mining periods EVER.

It's only real rival was the big Litecoin surge in late 2013/early 2014 timeframe - that lasted 3-4 months, was followed by a few weeks that X11 (DarkCoin, now DASH) was profitable 'till a bunch of the GPUs that HAD been mining Litecoin shifted, then pretty much died unless you have SUPER cheap electric.

Up side this time around - a LOT more "profitable" coins to choose from, and network hashrates and profitability that could soak a LOT more hashing power.

Down side - a lot more folks that already knew about Cryptocoins to jump ON the bandwagon sooner, plus more and more newbies since Cryptocoins have quite a bit more "legit" perception to them this time around.

bitcoinmaniac52

sr. member

Activity: 532

Merit: 250

Presale is live!

Quote from: unholycactus on July 29, 2017, 09:43:04 PM

Difficulty variance is the hardest parameter to estimate correctly. Bitcoin price is also something you should look at if you're planning to trade.
Rest is very predictable.

I would imagine mining would be very profitable the past few months. The price is rising astronomically, and fees are through the roof. Both of these combine for quite potent profits for miners.

QuintLeo

legendary

Activity: 1498

Merit: 1030

whattomine seems to have the biggest selection of mining calculators, though they're not quite as flexable as the bitcoinwisdom calcs.

They do "multiple coins" on a few of the more popular algos, but their choices are odd on which they do that on - the rest you have to go to the various individual coin pages (and on the multi-algo coins like Myriad one page per coin PER ALGO) to get to all of the calculators.

magrospic

full member

Activity: 299

Merit: 100

Thanks yeah that's the bit I was after Cheesy

I've been mining/trading since 2013 and lazily using the mining calculator sites but they never cover all cryptos across the board... just ordered a bunch of D3s so preparing for their arrival, I will try and build a system that does cover as much as physically possible.

I found this which gives some more details on the calcs too...
https://bitcoin.stackexchange.com/questions/8568/equation-for-mining-profit

Cheers peeps

Quote from: unholycactus on July 29, 2017, 09:43:04 PM

Difficulty variance is the hardest parameter to estimate correctly. Bitcoin price is also something you should look at if you're planning to trade.
Rest is very predictable.

unholycactus

legendary

Activity: 1078

Merit: 1024

Difficulty variance is the hardest parameter to estimate correctly. Bitcoin price is also something you should look at if you're planning to trade.
Rest is very predictable.

QuintLeo

legendary

Activity: 1498

Merit: 1030

https://bitcoinwisdom.com/bitcoin/calculator

magrospic

full member

Activity: 299

Merit: 100

Hey there!

I've tried searching low and high but can only seem to find links to mining profitability sites rather than the calcs themselves.

Can anyone help passing on calcs for mining profitability?

Working out the electricity cost is easy but I'm struggling on hash rate/blocks/block rewards/difficulty etc?

Any help appreciated Cheesy

Topic: What are the calculations behind working out mining profitability (Read 1309 times)