Bitcoin exploration - Howto find very best spending swimming pool?1542634

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Unfortunately, i started mining with my devices only four weeks before, so i overlooked the “great times” exactly where exploration was simple and easy you could not lose money. Right now its a little more tricky - you might have ASICs (Application form Distinct Incorporated Circuits) exploration components, which is made for exploration SHA-256 coins (=Bitcoin) during the third generation such as antminer s4, the coming year the 4th technology are going to be launched with more potential and less electricity consumption. But so i can give you quite actual numbers for dec 2014 that i have proven and you could profit from this brand new amounts. Best BitCoin Mining Pools

First, ask yourself from basic maths what can i earn as maximum by mining bitcoins?

In case you have an Antminer S4, this bitcoin asicminer will give you about 2 TH/s - this implies, per secondly it could possibly estimate 2 ‘ 10^12, ergo 2,000,000,000,000 Hashs each second, its power consumption is approximately 1400 watts 1 hour (therefore you evaluate your energy costs 24*1.4 = 33,6 kW daily).

Alright now we should determine what we can easily count on with 2TH/s day-to-day. that is a really good useful resource for your specific variety of bitcoin. Therefore we understand which the at the time of nowadays, dec 13th 2014, the entire network hashrate is 282,407,063.08 GH/s, this means 282,407.06 TH/s.

The bitcoin system packages the difficulty to locate a stop in a manner, that the new prevent can be found each 10 minutes circle-broad. So, this means on average 144 blocks are found every day. So, 407.06 TH/s / 144 blocks you get 1,961.16 TH/s, if you divide 282. The Best BitCoin Mining Pool

If you would have a mining power of 1,961.16 TH/s running full 24 hours, you would mathematically expect to find one block a day. If you do this long enough, this would be the average outcome, although of course thats the expectation value, thats not guaranteed.

Ok but we mentioned now we have “only” an Antminer S4 with 2TH/s - whats in for us ?

So, 961.16 TH/s / 2 TH/s the result is 980.58 days if you divide the daily power of 1. This means, that you require 980.58 times to identify a prevent - hmmm.

So since the ASIC hashpower will evolve within the next 6 months and no one can predict, how much TH/s you will need in 6 or 12 month to keep your percentage of network hashpower, it’s not making sense to do solo mining and wait 980.58 days for your block and buy every 6 month new hardware to keep up with evolving network hashrate.

So we have to join a mining pool to get daily payouts - great! But which to consider? The Best BitCoin Mining Pools

The main reason despite the presence of an antminer S4 you cant wait practically 3 years to enjoy a major payout, you need to join a exploration area. Thats exactly where we arrived at the heading - how to get the best paying, stable and reliable mining pool area ?

First, we calculate what is the expected daily income with our Antminer S4 with 2TH/s. If it would take 980.58 days to find a block and earn the coin value of a block, if we join a mining pool and add our power then we would have an expected earn of 1 / 980.58 = .00101980460 share on a block each day.

Essentially, you get 25.00 Bitcoin and deal-charges (thats all around .01 - .15 more Bitcoins) to find a new prevent. The coin value of a stop started at 50 Bitcoin, and minimizes each 210,000 obstructs by half. Basically stop quantity is 334,180 when block variety reaches 420,000, you only receive 12.5 BTC a block and the like, so mining can get additional unprofitable.

So your expected daily income with 2TH/s is 25.05 (i use this average block value for miners) bitcoin * .00101980460 = .02554610523 Bitcoin.

Obviously i have round these numbers while figuring out, i really hope you don’t be worried about this, this is only your expectation worth every day to have a amount you may compare pool results with, i do believe we spherical a little more and possess .025546 BTC as a possible predicted making per day.

Which brings rear the question on energy cost you: .025546 BTC respected in US$ (true selling price 350 US$/BTC) is 8.9411 US$. For building this “big income” you will need 1,400 watts * one day = 33,600 watts. So if you would mine just for fun you could afford mining when you pay around 8.9411 US$ / 33.6 kwatts = .266 US$/kwatts. If you pay out far more, forget mining, might be if the bitcoin value rises to one thousand US$ you are able to swap on your miner again. Bit Club Net Work