Like in my answer to Daniel just below, there are sites where you can check out the most profitable coins to mine and also places to calculate your profits. I made a small webapp at minedperday. Check them out here: Check with your provider, or take a look at your last bill. Blockchain — What is bitcoin?
Power consumption — Each miner consumes a different amount of energy. The results may help us better predict the post-halving Bitcoin environment, as this article attempts to do. Want to add to the discussion? It remains a bit unclear as to what this will mean for the price per individual BTC, though. One popular option is hydroelectric power from dams. Consider the following two cases, for example:
How have to wait a while for 2017 event My guess is that in per long run you could make many profit from Bitcoin mining but only if you invest a considerable mined of money in a good mining rig e. It has a small chance of mining a block but does not generate monthly revenue. Been happy with them. Bitcoins long is an S9 expected to be the best machine? How Do I Use Ethereum? Last weekend, developers providing security for the ZCash network have day a ceremony dedicated
This data was taken from an advanced Bitcoin mining calculator using the following stats: Date of calculation — August This result can change depending on your own electricity cost, the change in mining difficulty and most importantly the change in the price of Bitcoin. So even though home mining is an expensive business there are still other option that may be relevant for you to get into the mining game at a lower cost.
This means that you do not buy a physical mining rig but rather rent computing power from a different company and get paid according to how much power you own. However, when you do the math it seems that none of these cloud mining sites are profitable in the long run. But make sure to do the math before putting your money into any of these plans. One more option you can consider is mining Altcoins instead of Bitcions. Today there are hundreds of Altcoins available on the market and some of them are still real easy to mine.
Some good examples for Altcoins are Litecoin , Dogecoin and Peercoin. I n order to understand which Altcoins are profitable you can find website indexes such as CoinChoose that give you a complete Altcoin breakdown.
On CoinChoose you can see the difficulty for each Altocoin, where can you exchange them and what are the chances to profit Bitcoins by mining each specific Altcoin. My guess is that in the long run you could make a profit from Bitcoin mining but only if you invest a considerable amount of money in a good mining rig e.
You must really be careful as there are so many scams out there! Good Luck people, be weary. I have heard Hashflare and Genesis are trustworthy. Only ones I know for sure. It could still be profitable.
Also, they have a great support team. Been happy with them. Asic based machines only. I just finished writing an article on Ethereum mining for this site and I covered the Titan V. I can afford to buy an S9 machine and the monthly electricity costs, but is that enough??
How long is an S9 expected to be the best machine? Thanks, Steven, very helpful. Not too sure about the DragonMint machine lots of negative press out there but Slush does sound reputable. Think my partner and I will jump in and mine Bitcoin and LiteCoin with one machine each. MinerGate is an established smart-mining multipool that allows you to mine all of the top cryptocurrencies, including XMR. Hi Emmanuel, please post your question here or in our Ask Me Anything section: Last updated on November 24th, at Select miner Released How much electricity does your miner consume?
Avalon 7 November WW 0. AntMiner S7 August W 0. AntMiner S5 December W 0. Avalon 6 August W 0. It has a small chance of mining a block but does not generate monthly revenue.
Notify of new replies to this comment. It is quite interesting to think about how far bitcoin has come since its inception. Said milestone will take place roughly days from now. It remains a bit unclear as to what this will mean for the price per individual BTC, though.
Asa mining becomes more difficult and less profitable unless continuous new investments take place, the price per existing bitcoin should go up in value. We have seen some major mining difficulty spikes over the past few weeks, and that trend will continue for quite some time. A higher mining difficulty requires more hashpower and electricity to mine the same amount of bitcoin. For a lot of miners, January may become a good time to call it quits once and for all.
Should that happen, however, things will become even more intriguing. If there were fewer miners, it is expected the mining hardware manufacturers will take an even larger stake in the bitcoin mining process.
Companies such as Bitmain and Bitfury have brought a lot of mining hardware online over the past few years. With more energy-efficient hardware still being developed, it is not unlikely a certain degree of centralization will occur in the mining world. It will take a very long time to mine the 21st million BTC, that much is already a given at this point.
Explanation: The number of Bitcoins generated per block starts at 50 and is halved every 2, blocks (about four years). With the latest Also Read ( Source): Paras Lehana's answer to How many bitcoins are mined daily, and when will we reach 21 million? . Alexandra Goldberg, Social Media Manager ( present). 1 Feb As most people are well aware of, the amount of bitcoins being mined every day is much compared to a few years ago. What is even Asa mining becomes more difficult and less profitable unless continuous new investments take place, the price per existing bitcoin should go up in value. Moreover, with. Is anyone aware how much Bitcoin is currently being mined per day? I know I am not aware of each individual miner's motivation/situation, (need.