Estimated Expected Cryptocurrency Earnings The estimated expected cryptocurrency earnings are based on a statistical calculation using the values entered and do not account for difficulty and exchange rate fluctuations, stale/reject/orphan rates, and a pool's efficiency. If you are mining using a pool, the estimated expected cryptocurrency earnings can vary greatly depending on the pool's efficiency, stale/reject/orphan rate, and fees. If you are mining solo, the estimated expected cryptocurrency earnings can vary greatly depending on your luck and stale/reject/orphan rate. Time Frame ETH Coins BTC (ETH/BTC at 0.10441600) USD (BTC at $11,762.30) Power Cost (in USD) Pool Fees (in USD) Profit (in USD) Hourly 0.00045611 0.00004763 $0.56 $0.06 $0.00 $0.50 Daily 0.01094663 0.00114300 $13.44 $1.44 $0.00 $12.00 Weekly 0.07662642 0.00800102 $94.11 $10.08 $0.00 $84.03 Monthly 0.32839894 0.03429010 $403.33 $43.20 $0.00 $360.13 Annually 3.99552050 0.41719627 $4,907.19 $525.60 $0.00 $4,381.59. A chart showing bitcoin mining difficulty changes over time. View the bitcoin difficulty history and more with CoinDesk data. Enter your mining rig's hash rate and the CoinWarz Bitcoin mining calculator and Bitcoin profit calculator will use the current difficulty and exchange rate to calculate how much. Enter your Bitcoin mining hardware hash rate in GH/s along with the power wattage and your cost of electricity - dollars per kilowatt hour ($/kWh). The CoinDesk Bitcoin Calculator converts bitcoin into any world currency using the Bitcoin Price Index, including USD, GBP, EUR. Bitcoin; Ethereum. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. If you are new to Bitcoin, check out and. You can also explore the: • • • • • • • • • • • • Community guidelines • Do not use URL shortening services: always submit the real link. • Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. • News articles that do not contain the word 'Bitcoin' are usually off-topic. This subreddit is not about general financial news. • Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, is a good place to discuss all cryptocurrencies. • Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. • No referral links in submissions. • No compilations of free Bitcoin sites. • Trades should usually not be advertised here. For example, submissions like 'Buying 100 BTC' or 'Selling my computer for bitcoins' do not belong here. Is primarily for news and discussion. • Please avoid repetition — is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider. • Do not post your Bitcoin address unless someone explicitly asks you to. • Be aware that Twitter, etc. Is full of impersonation. Related communities Sorted roughly by decreasing popularity. • • • • • • [] • • (NSFW) • • • • • • Non-Bitcoin communities • • • • • • • Join us on IRC Other Bitcoin sites Download Bitcoin Core is the. Almost all Bitcoin wallets rely on Bitcoin Core in one way or another. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. You can also use Bitcoin Core as a very secure Bitcoin wallet. • Latest stable version: [] • • You MUST before running it. Style sheet credits The CSS used by this subreddit is the Erdune Theme modified by and. Check out his other work. Ad campaign: We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. The funds already donated will be spent on some sort of advertising, as intended. As of now, 7 BTC was spent out of 4. If you have ideas for the remaining BTC,. Guys PLEASE READ THIS before investing your MONEY at GENESIS MINING This is simple MATH!! 10 years old child can understand this! In this experiment, I will pay 105 $(0.105974 BTC) for 700 GH/s GENESIS MINING will charge you FEES (Guys please read the Agreement ): a. 0.150 $ per GH/s upfront = 0.000150313 BTC * 700 GH/s = 0.1052191 BTC upfront fee b. 0.00028 $ per GH/s a day = 0.24 BTC * 700 GH/s = 0. BTC A DAY fee ( 0.071750532 BTC a year) Now to calculate the profit is very simple, BTC mined in a year minus you cost/investment and the sum of fees. 700GH/s will generate ≈ 0.1554 BTC a year. BTC Profit first year= 0.1554 earning - (0.1052191 + 0.071750532) fees - 0.105974 cost = - 0.127543632 BTC (-127.79 $) ROI of negative -27% You invested 100 $ in GENESIS MINING after a year you LOST 100 $ and you OWE them 27 $. Their system is designed to keep you buying more Hash Power in the hope of making a ROI in a distant future. More Hash power= more daily fees = less profitable Bitcoin earnings. In the second year, you wont pay the Upfront fee, but if the daily fee stay the same, you wont make any profit form the Bitcoin mined, because of the difficulty increase over time, in the end your daily fees will overcome the Bitcoin mined, the following will happen, and your account will be terminated in 20 days. ' if, on any day, Coins generated on one day do not suffice to pay item 2 of the Fee above, the Service Provider may use Coins generated on any day thereafter for such payment.' I wont consider this a SCAM because it's written in the Agreement, If you have already invested please stop the bleeding and use you money for better good. The conversion rate (1 BTC = 990.811 $) and BTC mining rewards (12.5 BTC) are calculated on 2/13/2017 *edits: I improved the formating, The second year paragraph added, ROI of negative -27% • • • • •. This is troubling, but it's what happens when there are a lot of new people exposed to Bitcoin, like during the bull runs of the end of last year. There are ponzi scams, bitcoin doublers, bitcoin 'investing', and there's cloud mining. All are scams meant to extract as much money from as many other people as possible. When engaging in a scam, even if you're somehow gaming the system to make a profit, there are 10 other people who lose money. It doesn't make you clever, it makes you complicit in the scam. The scammer is still making his profit while you make pennies due to someone else's misfortune. The best thing you can do is simply call out scams whenever you see them. I know this is going to be an unpopular view but here it goes. I disagree with revcback. I think bitcoin mining makes sense from an economics perspective based on the benefits of diversification. The economics of renting out cloud mining hash power is similar to that of a lead bank syndicating out a big loan it made to other banks (if you don't know what that is, check out investopedia: lead bank doesn't necessarily syndicate the loan bc it thinks the loan has a negative expected value. The lead bank normally is just trying to decrease the range/volatility of expected returns (even if it decreases overall/mean expected return for the big bank). I'm not positive that is the case with Genesis Mining, but it makes sense from an economics perspective. Also, with regard to the original post, sure you may not achieve ROI within 1 year, but few investments do. And by the poster's calculations, you would be at 23% ROI by 1.5 years! That may not seem like a lot to someone looking for a get-rich-quick scheme, but that is a pretty amazing return considering that the vast majority of Wall Street hedge funds can't beat the average market return of only 6-8% a year over the long term (see, e.g., ). Plus, once you achieve positive ROI, you're just making pure profit until the contract stops running because fees overcome mining revenues, without any risk of losing your already gained revenues (unlike with, for example, an investment in stock, where in order to get more profits, you always have to risk all your investment and previous returns evaporating bc the company could become insolvent due to an unforeseen event). With regard to the risk of the contract stopping prematurely due increasing fees/block difficulty, I think that risk is somewhat naturally hedged by the economics of the contract. Although block difficulty could increase faster than expected if there is a rush of people starting to mine more, people will only rush to mine more if bitcoin skyrockets in price (thus making the bitcoins you did mine/are mining worth more, and thus causing an increase in revenue per bitcoin mined that offsets the increased difficulty of mining). I'm not saying that I have all the answers or that I'm necessarily right. But I think that there is a valid argument that cloud mining need not be a scam and that the economics work out. The idea is that you carry the risk of currency depreciation and give them a guaranteed profit. At least that is how it is meant to work. Imagine the following: You purchase 1000 BTC worth of mining crap and make a farm. You need to make a return to pay off your creditors. A loss is unacceptable. You are god-tier sysadmin, so the only risk of loss is if the price of BTC tanks. You therefore sell mining contracts at the current BTC/USD rate. This means that regardless of what happens, you will make a predictable return. If BTC moons, then you make less than you could have, and the contract holder profits. If BTC tanks, then you make more than you would have, and the contract holder loses. Either way, you make the same, and the contract holder holds all the risk. Basically, you are engaging the contract holder in a futures contract. Again - this is how it is supposed to work. In reality, scams abound. Tread carefully:) • • • • •.
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