Bitcoin Forum

I am new to bitcoin and I can't understand how to calculate the amount of bitcoins yielded given the GH/s. Say I am running 100GH/s for 24x7 for 1 week so whhat is the amount of bitcoins I will have ? If I am running on a cloud architecture ? Can someone show the calculation ?

you can calculate here
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

why you are so lazy, you can search using google.

Use mining calculators like www.cloudmining.website/calculator.php

Per week return for 100Ghs is ~0.00212716 BTC.

Is it true that cloud mining causes global warming?

It's worth to mention that all those long term calculations are only predictions. No one really knows what the future difficulty will be, so it's impossible to produce 100% accurate estimate.

Thanks for your prompt reply. Now I am interested in https://www.genesis-mining.com (https://www.genesis-mining.com) because of there lifetime mining contracts. Can you please help me in understanding their license agreement ?


Is the meaning of the first line that when you earn 0.26 USD worth of BTC you have to pay them ? Or do you have to pay extra 0.26 after purchase ? The particular plan that I am interested in costs $96, so does this mean I have to pay $0.26 extra ?

Now whats really confusing is the second line-:

I have to pay 0.00055 USD for each GH/s meaning each time a GH is done it will cost me 0.00055 USD right ? If that is true then each day has 86400 seconds then for each day I have to pay

86400*0.00055 = 47.52 USD ?

Since each day has 86400 seconds thus 86400 100 GH/s will be generated.

Am I right in my assumption ?

No, not at all. Every day you will have to pay 0,000555*100=0,05$ for electricity. The up-front thing is the price of buy I think. However, I don't recommend you to buy these mining contracts, because you will never profit, maybe never reimburse your initial purchase.

So what do you recommend for bitcoin mining ? Manual mining ? What's the best way to earn BTC ?

So the answer is not very much.

It depends if you have a starting capital or not. You can register in a signature campaign, play with the altcoins, lend your money (high risk, my testimony) or mine altcoins.

Forget about mining. It's not profitable for average people (unless you have free electricity etc).

There was a pretty extensive thread about best ways to earn bitcoins, perhaps you'll find something interesting there:

https://bitcointalk.org/index.php?topic=1006151.0

So cloud mining is an unprofitable scam and it's destroying the planet, this is horrible.

If it is a scam most likely they do not have the gear and are not using electricity "destroying" anything.   In most they simulate mining... and in the end you end up paying more then you got back.  Yes it is a very sad thing amount of scams in cloud area.

If you really want to do it go with hashnest, they are legit by all accounts.  But personally I would buy a miner and put it at a hosting center if you cannot mine at home for some reason.   Then you have a miner that holds some value... which I view as a plus.

manual mining is a joke, if you can afford to invest a big amount and have cheap electricity go directly for bitcoin mining

otherwise there are altcoin, that are profitable, or simply buy altcoin that have at least a future

But whatever you do, don't use that ponzi scam he links to. It is showing signs of imminent collapse.

Collapse is right, seems like they themselves depend on investors.

Payment address
https://blockchain.info/address/3KEeC9hLHaGKE8YTf4pNveMPi96i9qQ3Hh

I thought they would collapse long ago but they seem to attract more customers.... so people are not reading.  The calculator they send you to does not include difficultly common trick on ponzi cloud sites.

I thought when they did away with previous gen and got new "high performance" gear we would finnaly see them stop.  But people still buy and it's crazy.  They said they stopped using old gear and got new gear.... yet never release what they mine with on gear, or any info about gear.   I think it's due to them being ponzi and not actually mining at all.... but everyone can make up their own minds.

You can also check whattomine...

that is for altcoin, with sha256 asic the only porfitable one right now is bitcoin, other sha coin are useless to mine, we ar enot stuck in 2013 anymore