Bitcoin Forum

Mining profitability calculators are about a dime a dozen at this point.

I wanted to consult the good folks here to get an non bias opinion on what the most accurate and intuitive is?

It would be preferred that the calculator had an API that I could utilize.

Most have this but, I'm really here because it seems like every calculator is trying to sell you an ASIC. (Could be my ignorance).

Thanks for reading. :)

Boston.

Actually, mining calculators only predict based on data that has been inputted from various devices, various algorithms or electricity costs it means the calculator isn't dynamically changing according to the coin difficulty, the network difficulty, and the global hashrate - for example. so there is a pause first to adjust it to make it look more accurate. I often compare mining calculators like whattomine with my own calculations and the results are sometimes whattomine is accurate, same as my own calculations, even whattomine has been inaccurate.

so, in my opinion, the most accurate mining calculator is when you know the actual condition of the device.

I think most of the online calculators were accurate enough, at least (+)( -) 5% at the time when you calculate. The most important variable may global hashrate and coins price, while difficulty depends on the coin, some coin has diff-retargeting on some specific blocks, such as Bitcoin that will retarget the difficulty for every 2016 blocks solved.

Don't forget about your own condition, such as where are you mining in? Mining pool? Which mining pool? How about the pool's payment scheme?

I still using Whattomine as my fav calculator, With the right input, we will get a good result (at least).


Maybe you need to have it, lol

I typically use the Nicehash calculator or CryptoCompare’s calculators, and I have found that most calculators display results very close to each other with some variation, likely due to the algorithm that they use to predict future profitability. Nicehash’s calculator is good if you’re mining on their platform, as they take the current bid price for whatever you’re trying to mine, and they use that data to create a prediction of mining profitability.

Well, that was a great thing as the example. Using Nicehash's calculator and we use the platform for mining. I believe it will make more accurate. It will ignore several things that I said above such as pool, etc.

try whattomine

Thanks everyone for the wisdom. I appreciate it very much so. It looks like everyone's got a closet full of paper weights given the current mining situation unless you have something like, 5 cent kw/h. (Even we both know you're barely scraping by.)

Especially given that most of the time the mining calculators are a very liberal estimate it looks we're all out of luck unless you're an early herd ASIC miner.

I wanted to ask one other question regarding the MAJOR profit gaps between say, "WhatToMine" and "Crypt0 Zone". Can someone speak to why they numbers are almost nearly a double estimate. I just used a single 1070ti @ 0.12 kW/h as a base line. WhatToMine isn't even taking into account Pool Fee's and is still basically HALF the estimates on Crypt0 Zone.

The take away from this is, if you want to feel good about those GPU's you just bought. I guess go look at the false cryt0 Zoone estimates?

^ (This is just me poking fun at the differences, please educate me if i'm missing something obvious.).

Thanks for reading.

Boston

been checked results on both calculators

they are referring to a different coins as the most profitable

make sense that cryptozone results much have a higher profit estimates due to listed coins probability compared to whattomine

Whichever calculator you use, it can not predict the future difficulty of the network, the success of the pool and the cost of the coin tomorrow or in a month, as a rule you will see an estimate profitability for the current moment (usually in the past 24 hours). In my experience of using calculators, they all provide slightly optimistic data. Try to check shittomine, it is an early beta but have a lot of coins and algos.

The calculators are never fully accurate. There are many factors to account for. I usually assume a profit of 90-95% from what the mining calculator tells me.

Also don't forget about disconnects, pool fees, exchange fees, bank fees, etc.