calculate profit/loss

[atnas666]

Hay Guys whats the best way to calculate profit/loss of miners?
I know this has probably been ask millions of times but have had a quick search not turned any thing up.

Thanks in advance guys

[inBitweTrust]

Hay Guys whats the best way to calculate profit/loss of miners?
I know this has probably been ask millions of times but have had a quick search not turned any thing up.

Thanks in advance guys

https://bitcoinwisdom.com/bitcoin/calculator

Make sure you set realistic difficulty increases when making projections. This is something that is dynamic and where you will have to forecast and gamble at realizing a profit.

History- https://bitcoinwisdom.com/bitcoin/difficulty

Do your research first. Avoid cloud mining as well as almost all of them are ponzi schemes.

[chaolang]

All you need to do is google mining calculators and there are many links which can do all the math for you.

[atnas666]

ok cheers guys whats the best way to check/calculate power usage of miners?
thanks again in advance

[atnas666]

how do you guys measure the usage?

[cakir]

You've to pay:
1- Hardware costs
2- Electricity costs
3- Internet connection costs
4- (optional) some guy to keep the devices runnign stable

You'll get:
Some bitcoin "tops" the online mining calculator says.

[atnas666]

Cheers the bit im stuck on is calculating the electricity use?

[btcminer021]

You've to pay:
1- Hardware costs
2- Electricity costs
3- Internet connection costs
4- (optional) some guy to keep the devices runnign stable

You'll get:
Some bitcoin "tops" the online mining calculator says.

No sense inclusing ISP costs since you'd pay those anyway

Check out http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Electricity costs can be calculated by dividing your monthly electric bill total by total # KWH used. Usually $0.08-0.25, I think most are average $0.10 in US?

[atnas666]

I assume the best way to get the kwh for the miner/miners. Is some sort of plug adapter that displays the usage over 24hr?

And i am very greatful for ur help so far

[notlist3d]

I assume the best way to get the kwh for the miner/miners. Is some sort of plug adapter that displays the usage over 24hr?

And i am very greatful for ur help so far

Most popular is killawatt as far as something you can use on a miner your using.  It does not take long.  Once miner gets to it's normal operating speed you can see watts being used in real time.

[Muhammed Zakir]

Check out http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Don't use this calculator, difficulty doesn't increase correctly.

   -MZ

[ranochigo]

Check out http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Don't ise this calculator, difficulty doesn't increase correctly.

   -MZ

Difficulty estimates is never actually accurate. Hashrate can vary due to factors such as ambient temperature, difficulty drop and price rise. The best option is to roughly estimate the worst scenario and see if you can make a profit.

[Muhammed Zakir]

Difficulty estimates is never actually accurate. Hashrate can vary due to factors such as ambient temperature, difficulty drop and price rise. The best option is to roughly estimate the worst scenario and see if you can make a profit.

Yep, what I meant is other calculators' update difficulty faster but coinwarz seems a bit slow in updating(atleast for me). And also we should also calculate our profit in next estimate difficulty.

P.S. You already mentioned about calculating profit in your last line.

   -MZ

[atnas666]

Thanks guys

[cakir]

You've to pay:
1- Hardware costs
2- Electricity costs
3- Internet connection costs
4- (optional) some guy to keep the devices runnign stable

You'll get:
Some bitcoin "tops" the online mining calculator says.

No sense inclusing ISP costs since you'd pay those anyway

Check out http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Electricity costs can be calculated by dividing your monthly electric bill total by total # KWH used. Usually $0.08-0.25, I think most are average $0.10 in US?

If you don't live in a G8 country then you should calculate the ISP costs...
Also you may need extra connection.

[ranochigo]

You've to pay:
1- Hardware costs
2- Electricity costs
3- Internet connection costs
4- (optional) some guy to keep the devices runnign stable

You'll get:
Some bitcoin "tops" the online mining calculator says.

No sense inclusing ISP costs since you'd pay those anyway

Check out http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Electricity costs can be calculated by dividing your monthly electric bill total by total # KWH used. Usually $0.08-0.25, I think most are average $0.10 in US?

If you don't live in a G8 country then you should calculate the ISP costs...
Also you may need extra connection.

Well, miners don't use much data when submitting shares. This won't affect much, you can use internet while having more than 5PH of miners running considering the bandwidth usage. Why would you need extra connections? A normal and your main one would work fine.

[cakir]

You've to pay:
1- Hardware costs
2- Electricity costs
3- Internet connection costs
4- (optional) some guy to keep the devices runnign stable

You'll get:
Some bitcoin "tops" the online mining calculator says.

No sense inclusing ISP costs since you'd pay those anyway

Check out http://www.coinwarz.com/calculators/bitcoin-mining-calculator

Electricity costs can be calculated by dividing your monthly electric bill total by total # KWH used. Usually $0.08-0.25, I think most are average $0.10 in US?

If you don't live in a G8 country then you should calculate the ISP costs...
Also you may need extra connection.

Well, miners don't use much data when submitting shares. This won't affect much, you can use internet while having more than 5PH of miners running considering the bandwidth usage. Why would you need extra connections? A normal and your main one would work fine.

Well, for instance in my country (Turkey which is member and current leader of G20) Internet connection isn't stable.
I'm using ADSL connection (upto 8 mbit) and it's not cheap. Also it's not stable (There're lots of connection cuts.

If I need to run a couple of asics, I should buy "Fiber" package which isn't provided all of my country. I need to move somewhere else or I must send my asics to a hosting company to "colocate" them. colocation is not cheap also; I need to pay rent for them (electricity and isp fee included).

[Dread Pirate Roberts]

if they mining they will not lose . if they are trading it will calculated in profit and loss

[tins]

Hay Guys whats the best way to calculate profit/loss of miners?
I know this has probably been ask millions of times but have had a quick search not turned any thing up.

Thanks in advance guys

It is rare for any home miner to profit off the mining, at this point.
Your best bet is to get in early on a new wave, mine for a couple weeks, and sell miner while it still retains that value.

[sgk]

Cheers the bit im stuck on is calculating the electricity use?

There are devices that measure the actual electricity usage of any appliance.

The most popular one is called 'Kill A Watt' and comes in many models:
http://en.wikipedia.org/wiki/Kill_A_Watt
http://www.p3international.com/products/p4400.html

You can get it on eBay