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It's nice to have you coded such a site. But instead of pulling the price of bitcoin from one place, you can reflect the average value of all the stock market sites. Users will see a general average of the market.
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The efficiency of Bitmain's latest miner makes it the only viable alternative to consumers. J/Gh is the metric miners should be judged on when it comes to profitability.
While efficiency is the main factor in profitability, this is a false statement. While the Bitmain S9 is the leader in j/gh it is not the only viable solution. If you are a home miner trying to mine on overpriced power of course your options will be limited. Other options include the Avalon 7 series as well as a new player on the market ebang who makes the ebit miner. Both are around .13-.14 which is similar to the new Bitmain T9 that is a more reliable replacement for the S9. Do your homework on each machine and you can figure out which one makes the most sense for you. According to what you're saying, home users are using bitmain devices. What devices are used by those who professionally make mining work? |
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I am also interested in this so I am going to try and answer and hope others correct me and add more info. As far as I understand it, I need a serious knowledge and experience in programming to develop wallet. It does not seem like a job that ordinary programmers can do.
Yes, because we aren't talking about a simple tool, a bitcoin wallet deals with other people's money and the security aspect of it becomes paramount. Which technologies do we need to know? As far as I know bitcoin networks are working with p2p logic. So the programmer who develops the wallet needs to have the network information.
Cryptography I think is the most part and most important part of it, and then it is network and connecting to nodes, knowing and following the network consensus, saving blockchain and read/write to it. Finally, what programming languages do we need to know to develop your wallet? Can we develop with any programming language?
Any programming language should do. Bitcoin Core is written mostly in C++ Electrum is mostly Python Multibit is Java Armory is mostly C++ and Python Greenaddress is Shell and Javascript and HTML mSignia is C++ mycelium is Java breadwallet is Objective C BitAddress is JavaScript and HTML I have not yet seen C♯, Ruby, PHP, Go, C In fact, programming languages are a tool. If it can be written in languages such as Java, Python, and JavaScript, it can be written in any language. But each of the topics you talk about requires special expertise. As Bitcoin_BOy$ said, there is also a trust part. Even if the individual wallet is developed, it must be accepted by the bitcoin community. |
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the average increase per month for the diff was estimated around 10%, and up to 20% on some months
but it also vary in comparison to the value, it may increase or decrease farthur
For example, when I calculate for 11 TH/s the first month is 0.24989525 BTC the second month is 0.22547303 BTC BTC. (0.22547303 / 0.24989525) * 100 = 90% As you say, about 10% is lost. On average, let's assume the lost value is 15%. Month 1: 0.24989525 * 0.85 = 0.212410963 BTC ~ 189,8 USD Month 2: 0.212410963 * 0.85 = 0.180549318 BTC ~ 161,4 USD Month 3: 0.180549318 * 0.85 = 0.15346692 BTC ~ 137.2 USD Month 4: 0.15346692 * 0.85 = 0.130446882 BTC ~ 116,7 USD Month 5: 0.130446882 * 0.85 = 0.11087985 BTC ~ 99,23 USD Month 6: 0.11087985 * 0.85 = 0.094247872 BTC ~ 84.34 USD Month 7: 0.094247872 * 0.85 = 0.080110691 BTC ~ 71,54 USD Month 8: 0.080110691 * 0.85 = 0.068094088 BTC ~ 60,81 USD Month 9: 0.068094088 * 0.85 = 0.057879974 BTC ~ 51,70 USD Month 10: 0.057879974 * 0.85 = 0.049197978 BTC ~ 43,93 USD Month 11: 0.049197978 * 0.85 = 0.041818281 BTC ~ 37,35 USD Month 12: 0.041818281 * 0.85 = 0.035545539 BTC ~ 31,75 USD 189,8 + 161,4 + 137,2 + 116,7 + 99,23 + 84,34 + 71,54 + 60,81 + 51,70 + 43,93 + 37,35 + 31,75 = 1085, 75 USD https://shop.bitmain.com/productDetail.htm?pid=00020161116015622659M8nhWeAc06B1The price of the antminer device is 1232 USD Also electric, cooling etc. There will be extra costs such as. If the device works for 1 year without any malfunction, it will save 1085.75 USD. Mining does not look very profitable. Is there a mistake in my calculations? You can not do any long term calculations with any degree of accuracy. By the methods above. Look at month 12 where you say 0.035546639 BTC = 31.75 USD. Suppose coins are worth 1000 the number would be 35.54 usd Coins where as high as 1150 usd in DEC 2013 as low as 180 usd in JAN 2013 as high as 1100 USD in JAN 2017 Taking you example above you neglect to mention the machine has value after a years use. I have a batch 1 s9 I can sell it for 1200 it has mined from June 2016 to Jan 2017. Coins were only 676 when I purchased it Coins are now 880. Many people do not understand how to combine btc/usd and do calculations. I paid 3.172 btc on jun 12th coins = 676 so 2144 usd value day I purchased it. Today I can sell it for 1200 so 944 is my net price. My deal is free power but split the coins so 944 is still my price. that 1 machine earned about .86 coins before the ½ ing or .43 for me it earned about 2.31 after the ½ ing that is 1.15 so it earned 1.58 coins x 880 = 1390 - 944 = 446 usd profit. now coin wise 1.58 + 1.36(current value in btc of machine) = 2.94 coins since I paid 3.172 the loss in coins = -0.232 coins no country in the world calculates via coin profits.. they all convert to their currency to btc values to calculate profit. But phil if you held coins for that time you would have earned more usd. yes 3.172 coins was 2144 today it is 2791 so holding would have been a 647 profit vs my 446 profit . My point is your models do not reflect what I just wrote they are simply not accurate to predict earnings if you leave out price/btc factor and diff factor flux I understand you mean that the BTC value will increase over time. But this may be the exact opposite. So the BTC value may decrease over time. To me, mining is a bit of a risky investment. Profit and loss analysis is not fully realized. |
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the average increase per month for the diff was estimated around 10%, and up to 20% on some months
but it also vary in comparison to the value, it may increase or decrease farthur
But the increasing difficulty level determines the amount of BTC my machine will win. A machine with 11 TH/s power is operating at 100% efficiency for the first month. When the difficulty level increases by 15%, the machine works with 85% efficiency. The machine determines the amount of BTC that the work efficiency will take. Naturally, the amount of BTC determines how much I will earn. |
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I would like to think with the advancement of technology we will reach there soon. They say that quantum computing is just a couple years away. So we might be reaching into the things that were only seen in science fiction sooner than we know it.  Yes, people are dreaming first. Then they turn these dreams into reality. Much of what we've seen in science fiction films has even started to happen. But quantum computers now have very limited features. They are preferred only for calculations in specific areas. In the future will artificial intelligence people take their profession? Will a world where robots can do everything? |
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Actually, I want to know exactly how many GPU cards I have to buy for bitcoin mining. Which is the most power GPU cards do you have in the market? For example, instead of buying one ASIC machine, can we buy hundreds of GPU cards and do bitcoin mining?
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There are many ways to laundering money. Bitcoin records the payments made in a transparent manner. But Payments provide anonymity about who did it.
Can Bitcoin be used as a method of money laundering?
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Is it logical to use GPU cards for mining? ASIC machines are special devices manufactured only for mining. These devices are returning after a while as scrap. But yet high-end GPU cards can still be used, even if they lose the mining feature. The GPU cards can be used on the computer to play games. It's easier to sell GPU cards as second hand.
What are your thoughts about this?
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I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
According to the states, it does not matter how you produce your bitcoin. What is important for them is how much they can control this technology. The states already know the energy and labor you spend on bitcoin production. |
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With Bitcoin facing pending problems of scaling and malleability, developers are facing issues as whether to soft or hard fork Bitcoin. Are Bitcoins issues solveable by the current developers and community or must we pray for the founding father to return and help us as the only hope?
It is still unknown whether Satoshi is a single person or a community. Maybe he is still writing anonymously on this forum. Perhaps the current development team could be Satoshi. To me, bitcoin should not be related to a single person. An idea that is not from a single person but from the community will be more successful. |
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https://en.wikipedia.org/wiki/Turing_testFrom Tureng Test period artificial intelligence has developed a lot more than everyday. Big Data, Natural Language Processing, Deep Learning etc How long will the development of artificial intelligence continue? Will they be on the same level as people can think and decide?
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Just for info, can you elaborate on the topic?
Can any one Mine? Or it is done only by pros?
Does it require a certain computer system
First of all I would recommend reading the mining section of the forum. https://bitcointalk.org/index.php?board=14.0I would also recommend reading mining topics at the bitcoin wiki site. https://en.bitcoin.it/wiki/MiningThis site will also be useful. https://bitcoin.org/en/developer-guide#miningMining is not very profitable at the moment. If you're thinking about making a serious investment, you need to calculate your electricity costs. You can do hobby experiments with small devices. But you can not earn money. |
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The technology itself is not negative. What always matters is how people use it. In fact, such problems always happen. People are always complaining about their generation differences.
Do you think this is a problem for children born in so much technology? Are children complaints about spending time with iPads or playing computer games? Will these children have similar complaints for their children in the future?
I agree with you. Just informed generation to grow up on other principles. Fathers will never understand children because they subconsciously seek in the past, where they all knew and where he stayed their youth. I think that these differences will decrease with the developing technology alone. Generation conflict will be experienced less. Today, everyone is living with technology. At the same time, everyone consumes technological products. People who live by sharing common values will have fewer conflicts. |
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Some research will provide more useful information. Every 2016 blocks, the Bitcoin network determines how long it took to solve those 2016 blocks. If it took LESS than 14 days, it INCREASES difficulty. if it took LONGER than 14 days, difficulty is decreased. The Network tries to keep the network solve rate right at 2016 blocks in 14 days. Difficulty increases happen way more often than decreases. To get a little history: https://bitcoinwisdom.com/bitcoin/difficultyScroll down a bit, and there is a list of the last sereval adjustments and when they happened, and by how much. I personally find the calculator at the top of the above page to be very useful. When I get the average of the change of difficulties between Apr 05 2015 and Jan 10 2017, it is 4.24%. Does this percentage change make any sense? For example, an estimate of +12.94% is set for the next level of difficulty. |
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A wallet has to follow the protocol and consensus of whatever network and coin it is using. It has to be able to connect to nodes on the network and then send and receive messages to and from the connected nodes. It then has to be able to validate blocks and transactions according to the rules of whatever network and coin it is for.
A wallet also has to have some way to securely store private keys and then be able to use those private keys to sign things (usually transactions). It also has to know how to build transactions and how to sign them.
The actual details for how a wallet works varies from coin to coin as different coins use different technologies and specifications.
As far as I understand it, I need a serious knowledge and experience in programming to develop wallet. It does not seem like a job that ordinary programmers can do. Which technologies do we need to know? As far as I know bitcoin networks are working with p2p logic. So the programmer who develops the wallet needs to have the network information. Finally, what programming languages do we need to know to develop your wallet? Can we develop with any programming language? |
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Why is Bitmain the best mining equipment manufacturer? Is it because the Hash Rate is the company that produces the highest devices? Or the hardware quality of the devices is longer than others? Have you used the equipment of different companies besides Bitmain? |
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the average increase per month for the diff was estimated around 10%, and up to 20% on some months
but it also vary in comparison to the value, it may increase or decrease farthur
For example, when I calculate for 11 TH/s the first month is 0.24989525 BTC the second month is 0.22547303 BTC BTC. (0.22547303 / 0.24989525) * 100 = 90% As you say, about 10% is lost. On average, let's assume the lost value is 15%. Month 1: 0.24989525 * 0.85 = 0.212410963 BTC ~ 189,8 USD Month 2: 0.212410963 * 0.85 = 0.180549318 BTC ~ 161,4 USD Month 3: 0.180549318 * 0.85 = 0.15346692 BTC ~ 137.2 USD Month 4: 0.15346692 * 0.85 = 0.130446882 BTC ~ 116,7 USD Month 5: 0.130446882 * 0.85 = 0.11087985 BTC ~ 99,23 USD Month 6: 0.11087985 * 0.85 = 0.094247872 BTC ~ 84.34 USD Month 7: 0.094247872 * 0.85 = 0.080110691 BTC ~ 71,54 USD Month 8: 0.080110691 * 0.85 = 0.068094088 BTC ~ 60,81 USD Month 9: 0.068094088 * 0.85 = 0.057879974 BTC ~ 51,70 USD Month 10: 0.057879974 * 0.85 = 0.049197978 BTC ~ 43,93 USD Month 11: 0.049197978 * 0.85 = 0.041818281 BTC ~ 37,35 USD Month 12: 0.041818281 * 0.85 = 0.035545539 BTC ~ 31,75 USD 189,8 + 161,4 + 137,2 + 116,7 + 99,23 + 84,34 + 71,54 + 60,81 + 51,70 + 43,93 + 37,35 + 31,75 = 1085, 75 USD https://shop.bitmain.com/productDetail.htm?pid=00020161116015622659M8nhWeAc06B1The price of the antminer device is 1232 USD Also electric, cooling etc. There will be extra costs such as. If the device works for 1 year without any malfunction, it will save 1085.75 USD. Mining does not look very profitable. Is there a mistake in my calculations? |
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I am doing a calculation through the site https://alloscomp.com/bitcoin/calculator. As an example I enter 11.0 TH / s and calculate. Earnings in the first month seem to be 0.24989525 BTC. As the level of difficulty increases, the gain for the next month is estimated at 0.22547303 BTC. The difference between two months is 0.02442222 BTC. As the level of difficulty increases, I earn an average of 0.02442222 BTC less per month. Does this decrease periodically happen this way? How can I calculate how much I earn per month? |
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Hello friends, Which company produces the best mining equipment in the world? I know https://www.bitmain.com as a brand. What are the names of companies that produce mining equipment? Is there a list that shows all the companies? I want to make comparisons between companies. |
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