Mining - How much Bitcoin will I mine right now with hardware X? August 31, 2013 – 11:07

I was confused by the profitability calculators I saw because I find it hard to get a feeling for how the difficulty influences my yield and also for where I can expect the difficulty to go, since it's such an abstract value.

So I now use what to me is more intuitive: there's a (more or less) fixed number of 3, 600 BTC gained from mining each day, until the block reward halves in 2017. Those coins can be viewed as being shared by the whole network proportionally to the computing power of each player.

So, let's assume a network power of 360 Thash/s, which seems not far away as I write this, and makes for easy calculation, then for every Ghash/s that your equipment brings to the table, you get 0.01 BTC per day.

If you're solo mining, this is overly simplified, but the general direction of solo mining is that your actual yield will only on average match the theoretical one, so if you're much much smaller than the network (likely), then your variance gets so high that it becomes a lot like a lottery.

Source: bitcoin.stackexchange.com

2013-03-27 11:07:23 by -

Power usage/cost and mining

I found this quote earlier and though i would share. it seems that there is a point where the cost of bitcoin mining outweighs the benefit.
"I've done some testing. I tried to create conditions for success.
1. I had handy an M18 R2 - with dual 7970s.
2. I work a lot of hours and my kit is used by my employer. In trade off I use some juice for testing.
3. CPU bitcoining is worthless - just forget about it totally. Anyone telling you that only high power GPUs, FPGAs or ASICs offer a return are correct, and thats before ever discussing power.
4. I am vaguly able to generate 0

CoinTerra Announces Highest-Performance 2 Terahash per Second Bitcoin .. — PR Newswire UK
.. December 2013 delivery on both its in-house designed GoldStrike1™ ASIC and the company's 2 Terahash per second TerraMiner™ IV Bitcoin mining rigs – both representing the highest performance Bitcoin mining hardware that are currently announced.

Bitcoin Mining Step by Step (Bitcoin Step by Step) eBooks ()

Source: price-bitcoin.yoyafi.com