Bitcoin mining - Howto get ideal paying out swimming pool area?9457061

De BISAWiki

Sad to say, i started exploration with my own hardware only four weeks earlier, then i missed the “great times” in which exploration was easy and you might not lose cash. Today its a little more difficult - you may have ASICs (App Specific Bundled Circuits) mining equipment, which is made for mining SHA-256 coins (=Bitcoin) within the third development such as antminer s4, the new year the 4th generation will likely be released with a lot more potential and much less vitality intake. But in order to give you really true quantities for dec 2014 which i have proved and you could profit from this totally new figures. BitClub Network

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

When you have an Antminer S4, this bitcoin asicminer will give you close to 2 TH/s - therefore, for every secondly it could possibly calculate 2 ‘ 10^12, ergo 2,000,000,000,000 Hashs each second, its energy consumption is around 1400 watts an hour or so (which means you evaluate your energy prices 24*1.4 = 33,6 kW daily).

Okay now we would like to know very well what we can easily assume with 2TH/s every day. and that is a very good resource for the specific numbers of bitcoin. And that we learn which the by these days, december 13th 2014, the complete circle hashrate is 282,407,063.08 GH/s, this simply means 282,407.06 TH/s.

The bitcoin group units the difficulty to find a prevent in many ways, that a new stop can be found each 10-20 minutes circle-extensive. 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. Best BitCoin Mining Pool

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

Fine but we claimed we certainly have “only” an Antminer S4 with 2TH/s - what is set for us ?

So, 961.16 TH/s / 2 TH/s the result is 980.58 days if you divide the daily power of 1. Therefore, that you desire 980.58 days to get a prohibit - 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 pick? The Best BitCoin Mining Pool

The reason why despite having an antminer S4 you cant wait virtually three years to have a major payment, you need to join a mining pool. Thats where by we arrive at the headline - how to find the best reliable, paying and stable mining pool ?

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 obtain 25.00 Bitcoin and deal-charges (that is close to .01 - .15 additional Bitcoins) for finding a different stop. The coin worth of a block began at 50 Bitcoin, and lowers each 210,000 hinders by fifty percent. Essentially stop amount is 334,180 then when obstruct quantity grows to 420,000, you should only earn 12.5 BTC a block and the like, so mining can get far more unprofitable.

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

Naturally i actually have curved these amounts although determining, i really hope you don’t concern yourself with this, this is just your hope benefit on a daily basis to have a amount you can examine swimming pool outcomes with, i believe we circular a touch more and get .025546 BTC as being an expected generating each day.

That can bring rear the concern on electric power expense: .025546 BTC highly valued in US$ (specific value 350 US$/BTC) is 8.9411 US$. For building this “big income” you require 1,400 watts * 24 hours = 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$/kwatts. If you pay out far more, ignore mining, probably in the event the bitcoin price tag soars to one thousand US$ you can change on your own miner all over again. BitCoin Mining Pool