Bitcoin Forum

so i know my hardwere its not that good for mining buit i just need 0.0130 BTC
im mining at 120 Mhash/s
Current shares    Score    Last share at    Mhash/s*
64                     44.8649    7 minutes            76.3549741511
how long will it take me to make 0.0130 BTC?
just pls answer i dont know how  to use bitcoin calculators

Considering your hashrate 120Mhash/s, it'll take 4333.33 days at current difficulty to reach 0.0130 BTC.

Source: http://www.bitcoinx.com/profit/

p.s. If difficulty increases, it'll take more time.

thx for your fast reply
so i have no chance ha? i dont have control over the difficulty? cant i lower it?

https://bitcoinwisdom.com/bitcoin/calculator   Has difficulty changes easily to do.

You can put in the percent if you have a good idea of what it will be.

No, You can't control the difficulty and no one can.
And never mining with that hardware. It cost more for electricity than bitcoin that you can get.
Save the electricity and Earth will thank to you.

1) Stop mining.
2) Go to localbitcoins.com, enter your location.
3) Pick a reputable seller near you.
4) Arrange to meet them in a public place.
5) Pay them cash for the BTC.

So everyone new gets told to stop mining.
You think the people mining now will mine until 2114?

It is pointless to mine for years if you need a low amount of btc.
Just buy it...

Did you read the thread?  It will take him over 10 years to make that amount of BTC at the current difficulty.  Factor in rising difficulty and it will take forever and a day and waste more in electricity than I care to calculate.

I told him to stop mining because it is the right thing to do.

What is the significance of 2114?  End of the world in your calendar system?

I told to stop mining because he just mining with 120 Mhash/s.
If he still want to mining just do with he own risk, because that's not profitable.
I would tell him to mining if he has hardware that can mining with +800GH/s.

I think he tried to say 2140, i.e. when the last Bitcoin will be mined.

Ahh yes.  Still not significant because, assuming Bitcoin is still around, there will still be miners and there will still be mining after 2140.  In fact, for the system to survive, transaction fees must start to "take over" paying the miners way before that.  The miners should be making more from transaction fees than from the block subsidy probably some time in 2033 or so.  By the time 2140 rolls around and the subsidy is only 0.00000001 BTC the subsidy will have to be insignificant to the fees.

At a current diff. it would take you more than 6 years to make at that hash rate to generate the amount of bitcoin you mentioned.Also diff. rises each day

The difficulty rises every 10 to 14 days, not every day.

Can someone please explain me in simple terms, that in a distributed system like bitcoin network, how the need to increase difficulty is programmaticaly determined ?

The difficulty is recalculated every 2016 blocks based on the amount of time it took to produce the previous 2016 blocks, according to the timestamps.

D_new = D_old x 14 days / actual time for the last 2016 blocks

Since the actual time for the last 2016 blocks is agreed on by everyone, everyone computes the same difficulty value.

It's pointless mining with that kind of hardware. You should sell that and use the money to grab some coins IMHO

Well if people do stop mining, and everyone mining now gets off the boat, so to say, it would become more profitable again, and thus people will always have an incentive to mine. It's a self-regulating system, really :)

No, he just put +100 years from now.

Stop mining and buy 0.013 Bitcoin with cash.

You will have to wait less if you go to games and rounds and do the faucets.

Also will spend less with energy.


I would sell your mining gear, I don't think it is worth anymore.

Well, have you done the math about how long it takes to get that kind of money using faucets? Faucets are a nice thing to get your hands on Bitcoin for the first time, but they don't give you a substantial amount!

Let's make this simple, the OP needs 13mBTC (0.013 BTC).  Let's call it 13 meters of solid rock you need to dig through.

If you buy an ASIC you can mine at a rate of a meter an hour.

If you rely on faucets you can mine at a rate of an 10 cm/day

If you try mining on the equipment the OP is using you mine at the rate of 0.1mm/day.

If the OP wants to mine with his bare fingernails, he's welcome to, but it's only hurting the environment and potentially his computer.

The sensible thing to do would be to buy the coin locally.

The easiest way to get 0.013 BTC IMO is to to to localbitcoins and find someone near you willing to sell you $10 bitcoin.

You may also join a sig campaign, claim giveaways, use faucets to get 0.013 btc in a month or two, if you really can't spare $10...

Your better off to buy a usb key I think they are up to 2 gh now .that's if you don't want to just go buy the coin
           

USB miners sadly seem to be novilty prices.  Compare to bigger miners it's just hard to justify.  I wish they were cheaper and more comparable as I would play with them for fun.  But on some of the new ones I have a hard time throwing 100 bucks or so on a few GH's, when I could get a bigger miner and much better rate.

I am afraid bitcoin mining is no longer profitable now, even if you have cheap electricity.
You will very likely end up with less bitcoin than you can directly buy now.

Whatever you do, don't buy those USB stick miners if you're trying to get a small amount of Bitcoin.  Even if it's $20-$30, the speed of those sticks will never ever produce $20-$30 of BTC you could've just bought from a seller or an exchange.

If you literally just need 0.013 BTC, just buy it from LocalBitcoins, Coinbase, or any reputable Bitcoin exchange.

Not sure if this promotion is still valid, or if they stop doing this, but Circle is giving out $10 of Bitcoin for new users.  Worth a shot:

https://www.circle.com/2014/05/16/10-to-spend/

if your miner can mine othercoin(your hash power is low for bitcoin, maybe your are using gpu?), you can point them to some altcoin, generating those 0.013 won't be that hard in this way

Most people are buying, but its best to see based on the reddit section to see how people are reacting to bitcoin getting a price deal.

76 MH/s? You are mining bitcoin with a low-end GPU?
You are paying more on electricity than you can get from mining.

Just stop mining, and spend $6.5 (plus fees) to buy 0.013 btc.

I strongly agree with this opinion, mining requires huge resources, and also requires a lot of fund, you have to pay for the electricity you use 24 hours a day, you also have to pay a good computer specs for mining, while the profits of mining are not too large and the possibility of return on investment is a very long time, if you have a large capital and expect big profits in a short time, then the investment funds in mining is not the right decision ...
hopefully you can take the right decision in investing ...