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Author Topic: New Mining Calculator Featuring Multiple Currencies and Responsive Profit Chart  (Read 2029 times)
BChydro
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January 20, 2016, 05:10:40 AM
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Made with love Smiley Comments or suggestions greatly appreciated!

http://karldiab.com/BitcoinMiningCalculator/

Source code:

https://github.com/karldiab/BitcoinMiningCalculator
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XERES
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January 20, 2016, 05:29:04 AM
 #2

I could never find a simple calculator, Thank you.

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January 20, 2016, 06:18:54 AM
 #3

It's nice - but I find the BitcoinWisdom mining calculator much better still.  Yours only calculates your earnings after the next difficulty increase.  In reality, a miner needs to be able to model their returns after each difficulty increase.  Without taking that into consideration, a miner will have an over optimistic expectation of return.  Also - you should factor in the initial cost of hardware as well.  With a couple more updates, I think this would be great!
BChydro
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January 20, 2016, 07:00:10 AM
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It's nice - but I find the BitcoinWisdom mining calculator much better still.  Yours only calculates your earnings after the next difficulty increase.  In reality, a miner needs to be able to model their returns after each difficulty increase.  Without taking that into consideration, a miner will have an over optimistic expectation of return.  Also - you should factor in the initial cost of hardware as well.  With a couple more updates, I think this would be great!
The profit chart does actually factor in a changing difficulty over time, but the output tables don't. I could see how that would be confusing. I think I'll change the second table to account for changing difficulty. Thanks for a feedback, that's super helpful!
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January 20, 2016, 07:26:30 AM
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It's nice - but I find the BitcoinWisdom mining calculator much better still.  Yours only calculates your earnings after the next difficulty increase.  In reality, a miner needs to be able to model their returns after each difficulty increase.  Without taking that into consideration, a miner will have an over optimistic expectation of return.  Also - you should factor in the initial cost of hardware as well.  With a couple more updates, I think this would be great!

that difficulty estimate on bitcoinwisdom is a bit exaggerated, they are assuming the worst scenario of 20% increase every two weeks, which is not really the case
raspberryseltzer
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January 20, 2016, 07:59:19 AM
 #6

The profit chart does actually factor in a changing difficulty over time, but the output tables don't. I could see how that would be confusing. I think I'll change the second table to account for changing difficulty. Thanks for a feedback, that's super helpful!

Got it - I can see that now.  Yes - I personally like the way I can see the profit values per month or grouped by difficulty jump, as on the Bitcoin Wisdom Calculator.  An option to export that out data out to a spreadsheet would also be quite killer Cheesy
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January 20, 2016, 10:12:53 AM
 #7

It's nice - but I find the BitcoinWisdom mining calculator much better still.  Yours only calculates your earnings after the next difficulty increase.  In reality, a miner needs to be able to model their returns after each difficulty increase.  Without taking that into consideration, a miner will have an over optimistic expectation of return.  Also - you should factor in the initial cost of hardware as well.  With a couple more updates, I think this would be great!

I agree with the sentnence in bold, but I don't think that Difficulty Increase were not taking into account there. I mean I don't think that more complex calculation will change the picture to such an extent that we should worry about it.

Overall good job OP! Thank you for the simple and in the same time pretty accurate Calculator!

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dk8218
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January 20, 2016, 05:51:19 PM
 #8

Nice one..
It's pretty easy to use and great one..
A Simple mining calculator it is..
I don't see any major problem that need to be updated..
At lowet level or normal calculations it can be used..
Otherwise for more bitcoinwisdom mining calculator id there
BChydro
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January 20, 2016, 06:19:12 PM
 #9

Would be awesome if you could implement AUD.
Too easy mate! Done. Wink

Smarter profitability tables that account for future difficulty increases, and exportable data are on the list.

Thanks guys!
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January 20, 2016, 07:19:21 PM
 #10

Great calculator! I like it a lot!  Only thing I can think of is maybe a chart for each difficulty change. This would help people better judge their ROI.
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January 20, 2016, 08:08:50 PM
 #11

Nice..!
dunand
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January 21, 2016, 04:58:52 AM
 #12

Wow this suberb. My mother could use it.
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January 22, 2016, 03:56:38 PM
 #13

Well done, works great.  Bookmarked!

It provides further proof that it's not economically profitable to mine bitcoin in the US due to the network difficulty and power costs per kWH.  However, that's not the fault of the calculator  Wink
Akarabzie
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January 22, 2016, 10:57:28 PM
 #14

Probably one of the best/easiest clalculators out there. I have a few suggestions though:

1) Maybe add the approximate halving date in there around mid July (very important for the last half of the year in mining).

2) Include hardware costs into the calculations.

Also, do you happen to work in the Hydro generation field? I may work for a company who's contracted with you in the past (judging from your BCHydro username).

Cheers.

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BChydro
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January 24, 2016, 07:25:09 AM
 #15

Probably one of the best/easiest clalculators out there. I have a few suggestions though:

1) Maybe add the approximate halving date in there around mid July (very important for the last half of the year in mining).

2) Include hardware costs into the calculations.

Also, do you happen to work in the Hydro generation field? I may work for a company who's contracted with you in the past (judging from your BCHydro username).

Cheers.
Good ideas, both wouldn't be too hard to implement. I'll add hardware costs into the calculation ASAP

No affiliation to BC Hydro, the government owned monopoly electricity company in BC, Canada. I just live in BC, and I turn BC hydroelectric power into Bitcoins so I decided it would be a decent username Wink

Thanks everyone for the comments! Grin
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January 24, 2016, 12:12:10 PM
 #16

Thanks man, nice calculator  Wink

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xdrpx
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January 24, 2016, 12:19:38 PM
 #17

Wonderful Mining profitability calculator, easy to use and has all necessary inputs needed to calculate the profits daily, monthly..etc. I really liked how the graphs indicated profitability over a period of time and the ability to input power cost and pool fees.
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