Mining Calculator Bitcoin, Ethereum, Litecoin, Dash and Monero

A few questions about BitCoin Mining

My computer currently gets like 20MHash/s. I am debating whether or not to get an ATI 6990 because it supposedly gets 700, which with my rough math, should get like .0392 BTC a day, or currently roughly $4.90 USD. If I get a BitForce SC that gets 4.5-5GHash/s, I'd be getting .25 BTC a day, or roughly $34 USD per day. If I get four of them, that's like 1 BTC or $136 USD a day.
I'm just a little weary, as in if someone could make machines to make that much BTC a day, why'd they sell them? Also, it seems as thought this money is coming out of thin air. If I understand correctly, but I guess my question is why more people don't do this then.
Not sure if this has been asked before, but I haven't seen it.
Chart I'm using for my MHash/s numbers: https://en.bitcoin.it/wiki/Mining_hardware_comparison
Calculator: http://dev.bitcoinx.com/profit/
submitted by bobbob1016 to Bitcoin [link] [comments]

I think I'm way off on the hashrate.

I ordered this graphics card and I saw the saphire alternative on this site to see that it has a 27.0 Mhash/s rating.
Assuming the conversion from Mhash to Khash is the same from megabytes to kilobytes, I could easily see that got.... 27,000 Khash??? that doesn't see right because that means according to this calculator that would mean I was making over 15 litecoin per day. I seriously doubt it is this easy to produce these. I'm sorry for sounding like an idiot. It's late and I probably am off by a couple zeros.
submitted by theguywithacomputer to litecoinmining [link] [comments]

Questions from someone who is new to Bitcoin

Hello, I am very interested in trying bitcoin or litecoin to make a few extra dollars here or there. I've done some research, and I have a few questions.
Right now, I'm looking at the Butterfly Labs Jalapeno. https://products.butterflylabs.com/homepage/5-gh-s-bitcoin-miner.html. It costs $275, and it processes 5GH/S. I ran that through the Bitcoin Calculator (https://bitclockers.com/calc) and it estimated that it would return $15,000 a year at bitcoin's current price of 148.00. (Click this link to see my settings: http://bitclockers.com/calc/mining_difficulty/7673000/difficulty_change/2/btc_per_block/25/value_per_btc/148.8/mhash_rate/5000/cost_per_kwh/0.12/watts_consumption/750/total_days/90/hardware_cost/250)
I'm pretty sure I'm missing something here. I figure there's no way I should expect that kind of return. What am I missing? How much should I expect to make? What advice would you offer to a noob like me? Right now, I'm mostly in the research phase, I don't want to dive in until I'm sure it's the right decision.
submitted by johndavismit to Bitcoin [link] [comments]

How long until bitcoins aren't accessable to the average user?

This is a general discussion on the bitcoin market itself, but also has to do with mining. If a mod determines that it needs to be moved to a different sub-reddit such as the mining reddit, please notify me and I will do so.
I'm not much of a genius when it comes to bitcoins, but I do know about the market and a good bit about how people think, since I'm a human myself.
When I first looked into bitcoins, people still made profit CPU mining. This is possible today, but anyone in bitcoinmining can tell you that it probably isn't worth your power bill, or even the internet bandwidth you used to download the miner. Then there was a paradigm shift where everyone started buying GPUs to mine off of, which is what most people have been doing recently, as far as I know. With some of the newest tech, you can get hundreds of Mhash on consumer level (ok, maybe a bit higher) GPUs. But that's not enough. With new development in ASIC cards, mining is a lot faster. In BTC Guild, the ASICMiner account reaches over 7kGhash, which calculates to around 400BTC per day (not necessarily as profit, however).
Anyways, back to non-mining spec talk. Because of these new cards being released, they will become the new standard for mining, the way that GPU overthrew CPU. This is natural, but could case obvious problems. As consumer level CPUs become obsolete in the mining world, and GPUs aren't seen as the standard because of development in ASIC technology, and with Moore's law providing the basis for cards like ASIC miners improving over time, will regular people lose interest in bitcoin?
I've been seeing many threads in bitcoinmining titled "Just bought a new gaming computer, can I use it to mine?" followed by specs that aren't too shabby; multiple GPUs, 4.0GHz+ processors, very nice (yet expensive) computers. Your average Joe wouldn't buy this, and it's not even seen as very good for mining. This is just the start. When an ASIC is seen as "required" to start mining, people with high end PCs won't even try. Therefore, the only way that the average computer user will acquire bitcoins is through buying them, which brings up the issue of discovery. Sure, more and more businesses are accepting bitcoins every day. But will the acceptance of bitcoins by smaller stores move people to try it out? If someone is going to buy a product on Amazon, for example, and they have a credit card linked up with their account, how will a "Pay with Bitcoin" link motivate them to invest in what the media usually portrays as a "made up currency"?
My overall thesis is that it seems as if the direction bitcoin is going in will cut off the entry of average users and restrict it to computer aficionados. This will have obvious effects on the market, which you can speculate on your own.
But tell me, reddit, what are your thoughts on the issue? How can we reform this economy to be suited to entering, average users when currently it's aimed at people with very strong PCs? Do you think it should stay this way? Do you have an innovative way to prevent this new paradigm from occurring and reducing new potential bitcoin circulators? I'm open to all thoughts and conversation, for this topic really intrigues me. Who knows, tomorrow an ASIC for residential use could be released and soccer moms would mine their own currency.
submitted by Stealtheh to Bitcoin [link] [comments]

Bitcoin Mining Pools

Hi Everyone,
Just a quick question about a Bitcoin Mining Pool. I know the way to solve a block is essentially "luck", meaning it could take a while or no time at all depending on how lucky the miner is at guessing the nonce.
I see people talking about Mhash/s, Ghash/s, and Thash/s referring to the number of calculations per second their hardware can do. I was wondering, does anyone know of a "list" that determines how much share of a "pool" you get based on the number of Mhash/sec... or higher your hardware gets?
Thanks! k9
submitted by k9thebeast to Bitcoin [link] [comments]

Bitcoin profit mining calculator - YouTube 7 DAY$-24/HR$ - BITCOIN MINING EXPERIMENT - See How Much ... Crypto Mining Rig 226 Mh/s Make Money Easily 850$ to 5k Per Week With Bitcoin Mining $7000 ASIC Miner Mined $1000 Dollars in Bitcoin in a Month ...

Bitcoin Mining Calculator. Got your shiny new ASIC miner? Wondering when it will pay off? If you enter your hash rate below, this page will calculate your expected earnings in both Bitcoins and dollars over various time periods (day, week, and month). Bitcoin Mining is the process which involves recent transactions into blocks. When the person solves a puzzle the blocks get reduced and he gets rewards for the reduced block. This calculator will let you to calculate the average time to earn 50 bitcoins. Also, you can find the bitcoins and amount you have earned per day, week and month. Bitcoin Calculator Usage. All you need in order to make the Bitcoin Calculator display a result is to supply the speed of your mining hardware. In this simplest form the calculator will use the current Bitcoin difficulty, block value and USD/BTC rate for the calculations. Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Your hash-rate: 1579000000 hashes/second : Difficulty: 19298087186262 times difficult than difficulty 1: Exchange Rate:-0,00000000/BTC Block time:

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Bitcoin profit mining calculator - YouTube

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