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Bitcoin Calculator Difficulty – Bitcoin Mining On Aws

Bitcoin Calculator Difficulty – Bitcoin Mining On Aws submitted by Rufflenator to 3bitcoins [link] [comments]

Bitcoin Calculator Difficulty – Bitcoin Mining On Aws

Bitcoin Calculator Difficulty – Bitcoin Mining On Aws submitted by ososru to Bitcoin4free [link] [comments]

How can I accurately curve the Bitcoin mining calculator to account for difficulty increase?

Lets say I buy one antminer s9, and run it somewhere I can get free electricity. A typical bitcoin mining profitability calculator will say that at 1300watts, I'll make around 500$ a month. Thats a projected 6k per year which is an amazing ROI, but I want to know how I can accurately account for increasing difficulty costs.
I know that we can never fully predict the fluctuation of bitcoin prices and mining costs, but I want to hear from people who have been in the game a while, what they think. When does mining difficulty increase to a point where the s9 is no longer viable with a typical american electricity cost of 8cents per kilowatt hour? When is it no longer viable for hobbyists at all?
submitted by senile_robot to BitcoinMining [link] [comments]

How is the bitcoin mining difficulty calculated?

How is the bitcoin mining difficulty calculated? submitted by Maximus020202 to Bitcoin [link] [comments]

New Bitcoin Mining Calculator - Estimated Future Difficulty taken into account

submitted by phirex to Bitcoin [link] [comments]

New Bitcoin mining calculator takes future difficulties increase into account - and more.

submitted by phirex to BitcoinMining [link] [comments]

Question about mining profitability vs calculators and difficulty increases. /r/Bitcoin

Question about mining profitability vs calculators and difficulty increases. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

How can I accurately curve the Bitcoin mining calculator to account for difficulty increase? /r/BitcoinMining

How can I accurately curve the Bitcoin mining calculator to account for difficulty increase? /BitcoinMining submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: Someone on bitcointalk posted a really nice mining calculator site which accounts for difficulty changes. It's the only one like this I've found. /r/EtherMining

Bitcoin mentioned around Reddit: Someone on bitcointalk posted a really nice mining calculator site which accounts for difficulty changes. It's the only one like this I've found. /EtherMining submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What does /r/Bitcoin think of the mining calculator I just made? It calculates changes in difficulty for more accurate revenue estimates.

What does /Bitcoin think of the mining calculator I just made? It calculates changes in difficulty for more accurate revenue estimates. submitted by top_bottom_top to Bitcoin [link] [comments]

Yet another Bitcoin and Litecoin Mining Calculator (accounts for variable difficulty and hashrate)

Yet another Bitcoin and Litecoin Mining Calculator (accounts for variable difficulty and hashrate) submitted by lastgen to truelitecoin [link] [comments]

Bitcoin Mining Calculator - Estimated Future Difficulty and delivery date

Bitcoin Mining Calculator - Estimated Future Difficulty and delivery date submitted by vnbitcoin to BitcoinMining [link] [comments]

How do you calculate a reasonable minimum mining difficulty? /r/Bitcoin

How do you calculate a reasonable minimum mining difficulty? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin mining - calculate difficulty rising

Bitcoin mining - calculate difficulty rising submitted by william_j to Bitcoin [link] [comments]

Is mining worth it for individuals?

I have done my fair bit of research on bitcoin and how mining works and difficulty.
Most people on different crypto reddit and blogs are indicating that mining is almost over for individuals and is only for corporations.
I have an electricity rate of 0.0075$/kWh. And an investment of $100k. From what I have researched it could still be beneficial. While i could still just buy bitcoin, mining seems safer and could turn into a passive income.
With the recent increase in difficulty that could prove that it's getting alot harder for day to day miners to keep at it. Any thoughts?
submitted by blacktar555 to BitcoinBeginners [link] [comments]

Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [link] [comments]

How to get an expected profitability when mining ravencoins?

Input: a miner's hashrate.
Output: an expected profitability of mining RVN (like whattomine does).
Questions:
  1. Is there a formula that allows me to calculate an expected profit by a miner's hashrate?
  2. Is there a formula to get a network hashrate by a given network difficulty? Something similar to this answer, but for a Ravencoin.
submitted by andrebits to Ravencoin [link] [comments]

How can I start mining bitcoin

I have been interested in mining bitcoin but don't know how to mine or what equipment to use and would love to learn mining
submitted by memesterking to BitcoinBeginners [link] [comments]

Google announces it succeeded with Quantum supremacy breakthrough

Google announces it succeeded with Quantum supremacy breakthrough submitted by GreenEyeFitBoy to CryptoCurrency [link] [comments]

AITD class lesson 5 : Understand the transformation process path for consensus mechanism within one article.

AITD class lesson 5 : Understand the transformation process path for consensus mechanism within one article.
In year 2008, POW mining machine is revolutionizing the distribution system from traditional currency which was created at the time of BITCOIN creation. In POW mining, If the work capacity for mining labor is larger, the higher chance to unlock Blocks will get, which purpose is to produce Bitcoins. POW 's birth was starting the first decentralized encrypted currency, digital currency has started to cut a striking figure rise in the financial market. According to the progress and development of Blockchain techniques, more and more people are participating in Bitcoin's investment and usage. POW mechanism's disadvantages are starting to emerge.
First, POW consensus mechanism is requiring mining labor to continuously using mining machine to do computing during mining process, this process will consume large capacity of electricity and mining machine usage cost, which will cause resources waste. As we mentioned in the previous class, purchasing more lotteries will improve the possibility of winning a prize, but it will cost a lot of money; Second, POW consensus mechanism is requiring all nodes to record processes for every production, transaction, transfer process on chain, which is causing time confirmation process slow for on-chain transaction. According to these two disadvantages, industry starts to continuously update based on POW consensus mechanism.

https://preview.redd.it/1o8646l1w8s51.jpg?width=500&format=pjpg&auto=webp&s=72920d7b39f5a7ca5e2c5777e65cb12d4b005862
The nearest consensus mechanism for POW is POS, which is called legal rights prove. Unlike work capacity prove, POS mechanism do not need users to process massive calculation to unlock Blocks, but it is distributing Blocks according " Coin existing time from its generation", which is also called "coin age”. So called "Coin Age "is actually means that the product (times function)of the amount of coin users hold and times. Users can start exploring new Blocks when they get certain amount of "Coin Age". The longer of user's "Coin Age", the higher chance to discover new Blocks will get.
POS consensus algorithm is following "holding coins will produce profits" principle,Although current funds setting possess different approaches but equally satisfactory results, this setting is avoiding the resources waste problem which is causing by mining labors' mining process. Allowing digital currency production procedure to be simper, but the disadvantages are still existing in POS,User who possess older "coin age" will have higher chance to unlock Blocks and get rewards , those users who do not have coins can hardly unlock the Blocks. In the long term, " Poor people will be poorer, rich people will be richer”, This phenomenon is totally against the decentralization concept in digital currency.

https://preview.redd.it/n3frouz2w8s51.jpg?width=540&format=pjpg&auto=webp&s=3ad8e476f5e0220567e03a6efd39a9179a17f74f
DPOS was created after POS, which is stock authorized prove mechanism. This mechanism is coming up with a new concept based on the previous two mechanisms, the witness. Witness is the result of votes from on chain nodes, the mission is generating new Blocks within requiring times and gaining certain benefits for the works we did, EOS is the typical project which is based on DPOS. This rule is kind of like US congress, everyone has the right to vote, members from congress will use the power as the placement of civilian.
The birth of DPOS is further improving on-chain transaction confirmation speed, resources consuming problems during Blocks generating processes are resolved. At the meantime, this mechanism is transferring the digital currency processes from decentralization to weak centralization and half centralization. Witness failed to fulfill his duty is seriously influencing the operation procedure for the system.

https://preview.redd.it/j9ezc2z3w8s51.jpg?width=752&format=pjpg&auto=webp&s=a6954d616211233c188f8e0ab143e6ba4cba4e74
Except the 3 mechanisms above, there is a more convenient, energy reduced consensus mechanism. POC.POC is being called capacity prove, the essence of POC is considering as one of the "contribution force algorithm, it replaces mining machine algorithm in POW mechanism by disc capacity. In POC algorithm, the larger capacity of user's mining machine discs, the higher chance will get Block reward, at the same time, the capacity of these discs can be used twice. Comparing to the previous 3 mechanism, POC mechanism possesses low barrier, resources exploitable and also possesses distribution traits advantages.
The star project IPFS in Block chain industries is using POC mining mechanism, but it has not grounded until now. Although POC mechanism possesses multiple advantages, its popularity is not positive. On one hand, it is because Blockchain techniques are under developing phase, the difficulty to achieve this type of technique is high. On the other hand, the popularity of POC mining and Bitcoin mining will need massive mining labor participation in order to run the system safely, therefore it will need certain amount of user’s numbers accumulation.
Overall, consensus mechanism is transferring to more convenient, more energy efficient, multiple directions. From this year, Blockchain industry is becoming focus point for the society, due to multiple projects are starting at the same time phenomenon, there will be more new consensus emerging in the future.
Next Episode: What is the public chain in Blockchain.
submitted by AITDBlockchai to u/AITDBlockchai [link] [comments]

AITD class lesson 4: Mining will bring fortune, Consensus will generate value faster.

AITD class lesson 4: Mining will bring fortune, Consensus will generate value faster.
As we all know, Bitcoin is a decentralized digital currency, there is no central currency publisher. The question is that how first Bitcoin was generated if there are no publishers for Bitcoin.
The answer is: Through Mining.
https://preview.redd.it/ebm9zfvbotr51.jpg?width=640&format=pjpg&auto=webp&s=798802bf75101284a9e6b111a66188c2b9b78d2a
In January of 2009, Bitcoin father Satoshi nakamoto got the First Genesis Block through data mining on Bitcoin network and received 50 Bitcoins as rewards, therefore, first set of Bitcoins was official revealed. Since then, more and more Bitcoin mining labors started mining,as a result, they got tones of Bitcoins.
Mining is not like real mining in Bitcoin, it depends on the consensus algorithm from Bitcoin networks, using mining machine continuously to calculate Block password. The mining machine which gets the correct answer will unlock Blocks and get Bitcoins ( In the Block) as rewards.
The whole mining processes are kind of like purchase lottery, people who gets more numbers will get higher chance to match the winning number; The differences are that there are no second position prizes or third position prizes and people can not share prizes with other people.
After explaining mining, let's take a look at consensus algorithm we mention earlier. The whole mining processes will count on consensus algorithm to process, we can consider consensus algorithm as “ Mining rules".
Let's take Bitcoin as an example. POW algorithm used in Bitcoin network can be simply considering as contribution force algorithm . The algorithm requires that every single node has the right to start mining, it is the computing processes for Block password; In Blockchain Industry, it usually consider continuously computing processes for nodes mining as Hashrate contribution, unlock Blocks, gaining Bitcoin rewards possibilities will be higher if node's Hashrate contribution is higher.
In the beginning period of Bitcoin, the difficulty is not high for mining, mining labor can unlocked Blocks easily and got rewards, as Bitcoin consensus is getting stronger, more and more people are starting joining mining Bitcoins.
Difficulty will be higher if there are more competitors, Hashrate consumed by mining machine will be higher, at the same time, due to output has been cut into half for Bitcoin blocks, the profits from mining are continuously compressing, the Hashrate resources waste caused by POW algorithm was causing criticism from public.
According to the developing Blockchain techniques, members within the industry are looking for low cost mining mode, therefore, POS, DPOS, POC algorithms started continuously appearing. These algorithms are getting ride of contribution forces algorithm from Bitcoin, building "Gaining Bitcoin will generate revenue""Small amount of witnesses are starting mining for blocks", "Disc capacity prove" multiple mining methods, enabling digital currency to apply in various scenarios.( Detail transformation processes will be explained in the next episode.)
Currently, Consensus algorithm is transforming to simplify procedures, reducing resources usage direction, Only improved algorithm mechanism will get strong consensus. In the future, there will be many more algorithms appearing in the market, mining procedure will be simpler, fair, energy reduced.
Next episode preview: The transformation path for consensus algorithm mechanism.
submitted by AITDBlockchai to u/AITDBlockchai [link] [comments]

Is worth start mining with the actual situation of the cryptocurrency market?

I've been watching the market for over 3 years now. For those years I've been a student with no money to invest, and now that I'm almost out of the university and I have some money I wanna finally start on this world. For some weeks now I've been working on a planning for building a 6 GPU mining rig, all theoretical earnings calculated with NiceHash & WhatToMine. The actual theoretical profits for this one are like 250 EU month (1.40€/day per GPU) with AMD RX 5700 , having an electricity cost of o.o79EUkWH. I've compared all the actual GPUs on the market, and that's the best one I could find in terms of ROI (I start to get profits after 1 year and 1 month). I've seen some posts talking about much better profits & less ROIs but I couldn't find a better profit for a GPU rig, maybe I'm doing something wrong! To see if the theoretical numbers are right I tested them with an RTX 2060 on my own personal computer and I had a profit of 1.20 EUR /day when the theoretical profit for that GPU was about 0.80 EUR /day. So, after all those weeks comparing, thinking about a long term Investment plan and searching for LOTS of information i conclude that it's worth spending a total of 3000 EUR into mining.
Now I wanna ask you guys, with the actual situation of bitcoin (going up and up) and the difficulty raising over time...is it worth investing all that money on GPU mining right now? I'm afraid about investing the money and start to see a massive decrease in my profits, either for bitcoin going down or the difficulty going up nonstop. Also, I've not exposed all my plan, but doing it this way (mining with NiceHash and with 6 AMD RX 5700) is a nice plan or there is something with better profitability/ ROI? Maybe mining myself small cryptos and then exchange them to bitcoin, etc... All knowledge is welcomed.
Btw, I'm a computer science engineer, that's why I wanna start on mining instead of trading stocks, because I know how computers work and I think that my knowledge on Pc & GPUs could help me on doing this efficiently. And sorry for my "not so good English", it's my 3rd language! Thanks all.
EDIT: I could also buy the GPUs & equipment for the rig on a 2nd hand market, which would totally lower the total price of the rig, reaching ROI faster and if something goes not as expected, have less losses. Ofc buying at a 2nd hand is somehow risky but maybe worthy!
submitted by SergioArcos to BitcoinMining [link] [comments]

Bitcoin Mining Difficulty Hits ALL TIME HIGH! can you mine bitcoin - bitcoin mining calculator difficulty increase - asic miner for bitcoin Will Bitcoin Mining Difficulty Affect Profit? Bitcoin Mining Difficulty Drops A Historical 16% - Bitcoin Hashrate Down 45% - Why It's A Good Thing Bitcoin Mining Difficulty Decreases! (Bad News For Your Genesis Mining Dash Contracts)

The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares. How often does the network difficulty change? Every 2016 blocks. What is the formula for difficulty? difficulty = difficulty_1_target / current_target Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? The higher the mining difficulty, the less Bitcoin you get for a fixed amount of power. To justify the difficulty, prices tend to go up. The higher the price, the more people get interested in Bitcoin mining. As with any asset, more people get interested in it when prices are going up. Therefore, mining difficulty follows prices. But the drag effect is not necessarily instantaneous. After the ... Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware. Bitcoin difficulty is a value used to show how hard is it to find a hash that will be lower than target defined by system. Bitcoin mining difficulty is changed every 2016 blocks. The difficulty charts show that it has increased significantly.

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Bitcoin Mining Difficulty Hits ALL TIME HIGH!

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