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1  Other / Beginners & Help / Re: Excel mining profit calculator on: January 06, 2014, 02:08:52 PM
It shows a great return for ASIC miners at the current difficulty. I am looking forward to seeing the difficulty level rise in the coming months. The huge shipments of the ASIC rigs will be sure to boost the difficulty by something like 30-40% probably see this end of this month, and continue to stay steady for the next few months.

 
2  Other / Beginners & Help / Re: $5,000 budget on: January 02, 2014, 08:04:04 PM
I believe it would be too much of a gamble to buy an ASIC miner. Everyone is doing it, and by the time you actually receive the rig, the difficulty could have shot up so much! I posted this calculator, that kind of put me off https://bitcointalk.org/index.php?topic=396078.0
3  Other / Beginners & Help / Excel mining profit calculator on: January 02, 2014, 06:58:33 PM
I made a calculator on Excel to see how much you could make mining over the year.

It takes everything into consideration. But you have to estimate the what the difficulty level will increase to. I have no idea what the difficulty will be when all the ASICs start to ship, probably 30-40% like it did a few months back.

By fiddling around with the numbers a bit, I have put myself off mining!

Have a play around, and tell me if you think there are any improvements to be made.

I believe it is a more accurate estimate of your return than a site such as: http://www.bitcoinx.com/profit/ as it takes the increase in difficulty into account over the year.

Anyway, here is the link to my calculator:
http://www10.zippyshare.com/v/11385398/file.html
4  Other / Beginners & Help / Re: what is the actual bitcoin algorithm on: January 02, 2014, 06:44:13 PM
This Video will explain everything http://www.youtube.com/watch?v=Lx9zgZCMqXE
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