Using WhatToMine you can check, how profitable it is to mine selected altcoins in comparison to ethereum or bitcoin. Nothing guaranteed, of course this is only a rough estimate! Do not enter commas, only dots for decimal separator. You can also calculate rented mining by setting “Power consumption” to 0 and “Cost of mining hardware” to the rent per time frame. Default values are for a system of four 6870s. Estimate Strategy Extrapolating bitcoin difficulty or price is pure voodoo. It is much easier to predict the relationship of the two parameters in form of the Mining Factor. The Mining Factor 100 is the value in USD of the bitcoins you can generate if you let a 100MHash/s miner run for 24 hours. If the Mining Factor 100 rises above $2 or so everybody buys mining equipment and thus increases difficulty. If it falls people will stop mining eventually. The estimate starts with the current Mining Factor and decreases it exponentially such that the decrease accounts for the factor decline per year. Please note that a profit/loss by holding the coins is not accounted for in this estimate. Things to consider that might eat into your profit: • The values above are only a snapshot. The network and markets are moving quickly. Check out to get a feeling for it. Looks like if your mining operation is not profitable now, it probably will not be in the future. • With rising bitcoin exchange rates it might be more profitable to buy bitcoins than to mine. There are spreadsheets available in or (with some FPGA data) for a more custom calculation. Bitcoin exchanges:,. • The calculation is based on average block generation time. The closer the average generation time is to the time frame the more the resulting revenue depends on luck. • You will have to pay mining pool fees from close to nothing up to 3% depending on the pool. Unless you want to do pool hopping you should go to a pool with hopping protection. I recommend and (with namecoin merged mining). Is a new completely decentralized alternative. • You will get somewhere from 1% to 3% of “stale shares”.. • The Bitcoin block mining reward halves every 210,000 blocks, the coin reward will decrease from 25 to 12.5 coins; Reward-Drop ETA date: 09 Jul 2016. This might partly be compensated by falling difficulty, raising prices, higher transfer fees, etc. • A mining computer generates a lot of heat as a byproduct. This can impact your heating/airconditioning costs depending on outside temperatures. Other byproducts could be noise and an angry wife. • Do you have lots of experience with and like working with computers during lonesome nights? You have to spend quite some time to set up the system (easily several days!) and watch it. • You will not get a 100% uptime. • You will probably not be able to reach the highest values in the. Some bragging / measuring error and extensive overclocking of the cards is involved here. Note ClockTweak, a win32 command line overclocking/underclocking tool powered by bitcoinX. • Scaling effects: three cards in one rig do worse than a single card because it gets harder to get out the heat. Results in the list above do not reflect the number of cards. • A disruptive technology like ASIC chips could show up and make GPU mining less profitable. • Politics and legal issues might affect the bitcoin market. Possible additional benefits: • With you might be able to squeeze out a little more or be able to register a couple of.bit domains. • You might be able to save heating costs when it’s cold outside. Some people use watercooled rigs for floor heating. • You can use your rig as an internet radio or media PC or a server in general. CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser.
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Latest News (RSS): 4 days ago Network connectivity issues [resolved] About Join Stats Charts Calc Help FAQ Forum. Litecoin Mining Calculator. Hash rate: MH/s, kH/s. Network Difficulty: LTC price: BTC, USD, EUR, GBP, RUB, CNY. Power usage: W, Energy cost: USD/kWh. Why Was This Created? There are a lot of calculators out there already, but I couldn't find one that allowed me to calculate compounded reinvestments. Also, their calculations are not precise since they assume that the mining difficulty doesn't change over time, the Bitcoin to USD price remains the same, and they also do not minus maintenance fees. So when you're trying to check how much a HashFlare contract would give you in a year, most likely others would show you very high and unrealistic returns. Lastly, to be honest, I also wanted a way to get by creating a tool that people may find helpful:) - Benjamin. While a standard contract outlines the terms of a relationship. How Does Cloud Mining Bitcoin Work? How Do Ethereum Smart Contracts Work? What is a Bitcoin Mining Pool? The law of large numbers states. You can begin mining today with competitive pricing and cloud mining contracts which. Having reached its highest ever price, is currently in greater demand than it has ever been. Unfortunately along with that demand has come enormous criminal attention. This criminal interest has only been heightened by the fact Bitcoin, like all, is not backed by any government or central bank, is reliant upon code/software that only a few really understand and can be promoted easily and almost anonymously via the ever-increasing use of social media. And criminals aren’t finding it too hard to find victims. Stories about the rapid increase in the value of Bitcoin have been widespread and many can only see the currency's value rising further still. The truth however is somewhat different, fluctuations in the value of digital currencies are often much more pointed than with the more traditional international currencies and patterns are harder to predict as so few people actually understand the drivers. We became aware of very early on and as such soon developed a good understanding of the different types of Bitcoin scams and how best to deal with them. As lawyers we specialise in litigation and in resolving disputes for a variety of clients both in Britain and. Given many of our clients are extremely entrepreneurial by nature some had bene tempted by the opportunities offered by cryptocurrencies. Unfortunately some had found themselves affected by the different types of and we would like to outline some of the most popular: 1 Malware downloads Hugely attractive Bitcoin transactions are often used to persuade you to download damaging software that immediately damage or lock your computer. 2 Bitcoin phishing ‘ impersonators ’ Criminals use the Bitcoin logo to gain a victim’s trust and credibility. Once they have achieved the required level of trust, a phishing website entices users to enter their private Bitcoin key to see if it exists in their database. The key is then phished and the impersonator can then empty the associated bank account/s. 3 Bitcoin -flipping scams These scams offer to either instantly exchange Bitcoins once you’ve paid a joining fee or promise to double any investment your make within a very short time-frame. However the promises are never fulfilled and the victim’s Bitcoins are simply stolen. 4 Bitcoin pyramid schemes (also known as Multi-Level Marketing or MLM Schemes) These are one of the hardest scams to recognise and can be a longer play for the scammer but they will still end up with the victim’s Bitcoins being stolen. They are based on providing high yield investment programs starting with a typically low initial investment which the scammer promises will be multiplied when the victim signs up more investors by forwarding links to their contacts. Once there are a few hundred victims signed up – and once a few hundred joining fees have been collected – the originator walks away with the money and the pyramid collapses. 5 Fake Cloud Mining Services Bitcioin mining is a legitimate process in which Bitcoin “miners” validate transactions in the blockchain and make sure no double spending can occur by applying some complicated mathematical equations in exchange for new Bitcoins. Calling in a miner negates the need for the user to have to purchase expensive Bitcoin mining hardware, a trade-off scammers have been quick to pick up on. Scammers are now collecting the ‘mining fees’ without actually doing any mining and, although they will generally pay out small amounts for a limited period after a mining contract has been secured, the payments soon dry up and the scammer disappears with the funds. 6 Bitcoin Investment Schemes promise high levels of return in return for providing ‘investors’ with the capital they need to trade. Like cloud mining scams they will pay out small daily returns until one day the payments stop and the scammer runs off with all of the funds the victim has invested (funds that will probably have been increased over time as the initial daily payments will have been attractive enough to persuade investors to re-invest their returns into the scheme). The first a victim will know problems usually start when the victim tries to withdraw funds soon find the scheme has folded and the organisers are no longer contactable. 7 Fake Exchange Scams Legitimate Bitcoin exchanges provide users with a marketplace to trade Bitcoin for either international currencies or other cryptocurrencies. Somewhat predictably fake exchanges are now starting to spring up. These fake exchanges will ask users to deposit funds to be used to purchase Bitcoin, drawing victims in by promoting lower transaction fees than regular exchanges or even credit cards. The only problem is, as these exchanges aren’t real, the transaction will never generate any return for the user. 8 Bitcoin Donation Scams This is arguably the most cynical type of scam as it plays on the victim’s emotions and compassion. In the wake of recent atrocities we are seeing more and more examples of scammers creating fake donation pages asking people to donate in Bitcoin rather than via better policed platforms like PayPal. So what do you need to do to protect yourself? There is a basic rule when it comes to protecting yourself against scams – if it looks too good to be true, it probably is! Digital currency and Bitcoin scams are no different. If someone sends you any offer that looks too good to be true, immediately be on your guard. However here are 4 basic rules you should always follow: • Never trust any unsolicited email or social media post claiming it will give you or help you mine Bitcoin. • Never click on any URLs offering Bitcoin offers unless you know and trust the sender (and know that the social media account it has been sent from is 100% genuine. • Never engage with or provide personal information for any email or social media account of any Bitcoin brokers or trading platforms without checking they are 100% genuine in case they are an impersonation. • Never enter into any type of financial transaction on the back of a direct message on social media. If you have been the victim of a or any other cryptocurrency or have received an approach via email or social media you think maybe be fraudulent, you need to act quickly. Please call us on or email. Mine Litecoin in the Cloud with these Providers. Please keep in mind that when it comes to cloud mining. That’s why a crypto currency’s difficulty. May 22, 2017 - Easy to use Genesis Mining calculator. Bitcoin mining calculator, Genesis SHA-256 Bitcoin plans with promo code, and Bitcoin mining reviews in one great place! But as the difficulty grows every day the server bought for example 2 years ago doesn't have power to mine the bitcoin today. Actually it has. What is this? The diff change is the rate at which the network difficulty is changing every month. Diff change is used for the estimated future profits graph and break-even analysis. Typically in crypto, network difficulty tends to increase over time, meaning a miner will generate less crypto with the same hardware. Accounting for this changing difficulty is essential to generate long term profitability predictions. How is this value calculated? The diff change value is calculated by looking at the current difficulty and comparing it to the 12 hour moving average of the difficulty one month ago. For smaller coins the diff change can sometimes be inaccurate due to a wildly fluctuating difficulty. Can I disable it? The diff change factor can be disabled by either manually setting it to 0 or clicking a 'Use Diff Change' switch found below the graph and in the break-even analysis section. What is this? The Break-Even Analysis feature can help you predict how long it will take to become profitable for a given setup. How is this calculated? Time to break-even is calculated by comparing your hardware cost (which you must enter below) to your predicted monthly profits and seeing how long until the initial hardware cost is paid off. The calculator also takes the changing difficulty (diff change) into account. If the network difficulty is increasing quickly, this will greatly increase your break-even time. The diff change can be excluded from the calculation by toggling the 'Use Diff Change' switch. Why is my break-even time 0 or never? If your break-even time is 0 you have likely forgotten to input your hardware cost below. If it is never, your break-even time has been calculated to be greater than 10 years. This is likely due to a large diff change value which causes your predicted profitability to turn negative in the future. You could try lowering the diff change for a less agressive prediction or disable it altogether. What is this? The profitability chart can help you visualize your long term mining projections. The chart can operate in one of three views: Total Profits The Total Profits view predicts what your overall profitability will be in the future. This is calculated by taking your current profits and adding them to each following months profits while factoring in the changing difficulty (diff change), the diff change factor can be disabled. This view assumes the price of the coin will stay the same. If you wish to account for a changing price (ie if you think the price will rise in the future), switch to the 'Coins Generated' view. Coins Generated This view looks at the number of coins you can expect to generate in the future. This view does not account for any expenses, it simply predicts how many coins you will generate with your given hashrate and the diff change value. A high diff change will cause you to generate fewer coins in the future. Total Costs This view sums your power and recurring costs. It can be used to predict the total cost to operate your mine over a given period of time. What is this? Price Change allows you to factor in the changing price of the currency into your projections. You can use this to generate accurate best-case and worst-case projections for your operation. Why does Price Change default to 0? It is impossible to predict what the price of any coin will be in the future, we leave the price predictions up to you. How does this value factor into the calculations? It depends on what Selling Profile is set to. For more details, click on the question mark beside the Selling Profile field found directly below Price Change. What is this? Selling Profile tells the calculator how to use the Price Change value. Price Change must be set to something other than 0 to have any effect on the profitability projections. Selling Profile has 4 different options: Sell Coins Monthly Profitability is calculated as if you were to sell all of your mined coins at the end of each month. Your profits will equal (money earned from selling) - (total expenses + hardware costs) Sell to Cover Expenses Only sell enough crypto to cover your monthly expenses. (electricity, rent, etc.) Your profits will equal (unsold crypto * predicted price) - (hardware costs) Sell a Portion Monthly Selecting this option will show the Sell Monthly field below, this is where you input what portion of crypto you would like to sell each month. For example, if you plan to sell 25% of your new crypto, enter 25 into the Sell Monthly field. Your profits will equal (money earned from selling) + (unsold crypto * predicted price) - (total expenses + hardware costs) Never Sell Coins Select this option if you plan on holding all of your crypto. Your profits will equal (all crypto mined * predicted price) - (total expenses + hardware costs). Home > Help > Help for sellers > Mining guides > SHA256 mining. How to properly use and understand Profitability calculator. Find out what your expected BTC and USD return is depending on your hash rate, power consumption and electricity cost. Find out if it's profitable to mine Bitcoin. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Whether you're looking to get started in the world of cryptocurrency mining or you're a pro, this calculator can tell you your profit margins based on the current bitcoin mining difficulty and the Bitcoin price (BTC) to Dollar (USD) rate. Just input your hash rate, any pool fees you many incur, power usage, power cost in kw per hour (you can find this on an electricity bill, or look online for averages in your area if you're unsure) and hardware costs if you're using your own rig, or the contract cost if you're using cloud mining, then hit calculate. The results it outputs below are daily, weekly, monthly and yearly estimated profits, along with the amount of time, in days, it will take to breakeven, taking in to account your initial contract fee, or hardware costs. Everything you need to know about Zcash mining. Data on cloud mining operations. Inventory - Sha 256 cloud mining - Hashflare. Bminer is a relatively new miner for Nvidia GPUs for mining cryptocurrencies using the Equihash algorithm such as Zcash (ZEC). It is a closed source miner, available for both Windows and Linux operating systems and comes with a 2% dev fee included (optional, though disabling it apparently removes some optimizations). Dec 17, 2017 Bitcoin Mining Profitability Calculator. With Hashflare and Genesis Mining cloud mining services you can start. Sha-256 Mining - Duration. Two years ago, a Chinese chip-design expert named Micree Zhan was reading China’s seminal science-fiction novel, The Three-Body Problem, by Liu Cixin, while wrestling with how to create a new processor. He had already designed custom chips for the company he co-founded, Bitmain, that had made it into the world’s leading bitcoin miner, allowing it to dominate the new, hyper-competitive industry of unearthing bitcoins. Now he needed a chip that could launch Bitmain onto a new trajectory, one that would help it master a world-altering technology called deep learning, a branch of artificial intelligence. While performing his nightly meditation, a practice he has kept up for nearly a decade, it suddenly came to Zhan. “It was late at night, and something inspired me—Sophon!” he recalls. A sophon is a fictional proton-sized supercomputer from The Three-Body Problem that is sent by an alien civilization to halt scientific progress on Earth. It’s capable of causing strange phenomena—such as inscribing flashing words on the retinas of elite scientists. The aliens use it to take over Earth when their own planet is destroyed by the chaotic gravitational forces of its three suns. Bitmain’s newest product, the Sophon, may or may not take over deep learning. But by giving it such a name Zhan and his Bitmain co-founder, Jihan Wu, have signaled to the world their intentions. The Sophon unit will include Bitmain’s first piece of bespoke silicon for a revolutionary AI technology. If things go to plan, thousands of Bitmain Sophon units soon could be training neural networks in vast data centers around the world. Bitmain could pull it off, says Michael Bedford Taylor, a professor at the University of Washington who has studied the bitcoin mining industry and its specialized chips. Taylor says these types of chips, called application-specific integrated circuits, or ASICs, that are designed to perform a single function extremely efficiently could create the. “This will invigorate the hardware field,” he says. “We are about to see the emergence of all kinds of ASICs clouds, and the bitcoin hardware community has demonstrated that under the right conditions this can happen rapidly as a grassroots effort.” China’s shadowy colossus To grasp how a Beijing startup is poised to challenge the likes of Google, Nvidia, and AMD in the deep learning arms race, it’s essential to understand Bitmain’s pivotal role in the $70 billion bitcoin economy. Incorporated in Hong Kong as Bitmain Technologies Ltd, Bitmain’s controlling shareholder is a trust registered in the Cayman islands. Bitmain co-founder Micree Zhan explaining the significance of the word “Sophon.” (Quartz/Zheping Huang) The company is a marvel of vertical integration. Bitmain designs the silicon that goes into its bitcoin mining rigs, assembles the machines, then sells them to customers around the world. It also operates the machines for its own account, that it rents out on contract to others, and, finally, manages several of the world’s largest mining “pools”—agglomerations of processing power so huge that they greatly improve the odds of successfully mining a bitcoin block. Bitmain may now be the most influential company in the bitcoin economy by virtue of the sheer amount of processing power, or hash rate, that it controls. Its mining pools, Antpool and BTC.com, account for on the global bitcoin network. Hash rate is critical because bitcoin is in the midst of a Controlling chunks of hash rate provides miners with a public vote on the bewildering array of technical proposals dictating bitcoin’s future. At the crux of the technical debate: How to increase the number of transactions the bitcoin network can handle at any given time. The recent split of bitcoin into bitcoin and bitcoin-cash illustrated one way to do this. Of checking and adding new transactions to bitcoin’s immutable ledger—its blockchain. Miners must compete with one another to be the first to find a new block. In return for performing this work, which requires massive processing power and incurs hefty electricity costs, miners are rewarded with a certain number of bitcoins for each block they add to the blockchain. Currently, that’s 12.5 bitcoins per block, and a new block is found roughly every 10 minutes. At the current bitcoin price of about $4,000, that’s $50,000 up for grabs every 10 minutes, or $7.2 million a day. Another split for bitcoin is looming in November, when the community must again decide if it will raise the block size limit. Wu, who favors the new split, says such schisms shouldn’t be avoided. “The core developers don’t own bitcoin as a whole,” he says. “Maybe they own the bitcoin-core software project, but bitcoin is not software, it is a kind of social agreement that is implemented by software. And if people do not agree with each other, a fork will be inevitable. It is only a matter of time.” A chance encounter with a chip designer Bitmain and Wu’s power would never have come about had it not been for a chance encounter on a Beijing street. Zhan, the Sophon chip designer and the technical brains behind Bitmain, was running a startup called DivaIP in 2010 that made a set-top box that allowed a user to stream a television show to a computer screen. One of Zhan’s staff was canvassing for customers when Wu walked. Employees at Bitmain’s Beijing headquarters. (Quartz/Zheping Huang) Wu was then in private equity, armed with a degree in economics and psychology from Peking University, China’s most august institution. Zhan, a graduate of the Chinese Academy of Sciences, famed for its technical degrees, was trying to raise funding for DivaIP, so he asked Wu for advice. Ultimately Wu couldn’t help, but three years later it would be Wu who needed Zhan. Wu had discovered bitcoin in 2011 in a blog post, and one line stuck in his head. “They described it as the most dangerous open-source project ever,” he says. Bitcoin was envisioned as a form of stateless money that could be owned by anyone but controlled by no one—with no central bank, and no government in charge. “Such a monetary system is possible. It doesn’t have to be government-backed. It doesn’t even have to be gold-backed,” he says. In short order, Wu emptied his bank account to buy bitcoin, then just a fringe idea. One bitcoin could be purchased for under a dollar in early 2011. “I spent all my life savings to buy bitcoin in 2011,” he said. “Most people thought it was risky or a scam.” Two years later, bitcoin exploded, soaring from about $20 at the start of 2013 to $900 by the end of the year and, in the process, it captured mainstream attention. Wu realized that he could make money not just by trading bitcoin, but by creating it. At the time, a miner could earn 25 bitcoins every 10 minutes. Wu had capital from his 2011 bitcoin investments. But he needed a chip designer. Remembering Zhan, Wu set out everything he understood about bitcoin in an e-mail to him. “I spent two hours reading up on bitcoin on Wikipedia,” Zhan said. “I knew it was a good thing. I decided to do this business immediately.” Bespoke silicon for bitcoin Zhan’s first task was designing an ASIC that would run SHA-256, the cryptographic calculation used in bitcoin, at maximum efficiency. The development of bitcoin mining ASICs escalated the race to devote greater amounts of processing power to bitcoin mining. Where bitcoins are unearthed. (Aurelien Foucault for Quartz) “In the beginning it was very tough for Micree [Zhan],” Wu says. “He complained it was impossible,” to create an ASIC for bitcoin. But Zhan, 38, got the job done, and at record speed, taking just six months from idea to finished product. Time was critical, because bitcoin prices fluctuated wildly, meaning Bitmain could miss out on a once-in-a-lifetime chance to profit from the ongoing rally. Other players were already on the scene; early ASIC makers like ASICMiner and Butterfly Labs crowdfunded their projects in 2012 to create the first generation of bitcoin ASICs. In November 2013, Zhan’s first mining rig, the Antminer S1, was ready, and Bitmain opened for business. Sales took off. “We had very good sales during the whole of 2014,” Wu says. Indeed, bitcoin hit a historic high of nearly $1,200 in November 2013—only to crash months later after fraud was discovered at Japan’s Mt. Gox, then the largest exchange in the world. By the end of 2014, the Mt. Gox-spurred crash put Bitmain in dire straits. Nobody wanted to be paying expensive electricity bills to mine a digital currency that was falling in value. “The price fell too low, and the whole business plan was made when the bitcoin price was high!” Wu laughs. “So when the price fell there was not much demand for our bitcoin mining rigs. Our toughest time was at the end of 2014.” Surviving the bitcoin crash Wu and Zhan clung on. “It was very tough,” says Zhan. “I thought if the price continues to drop maybe Bitmain will break down.” But by 2015, the cryptocurrency appeared to have bottomed out. There was increasing interest in the technical idea behind it—the immutable ledger known as the blockchain—from some of the world’s biggest banks and financial institutions. At the same time, Zhan began working on the Antminer S5, the fifth iteration of Bitmain’s mining rig, which slashed power consumption by about a third compared to the S1. As bitcoin’s price crept up, miners returned to the scene, seizing on the Antminer S5 as their equipment of choice. “That chip was amazing,” says Wu. “It helped our company a lot.” Bitmain had a 50% profit margin on the product, according to Zhan. The Antminer S5, which contained the BM1384 chip, turned around Bitmain’s fortunes. Wu won’t disclose the company’s revenue and earnings, except to say that it is in “a very good financial position.” He claims it is cash-flow positive, and that it has over 70% of the market for bitcoin mining rigs—effectively providing 70% of all the processing power on the network. The firm sells hundreds of thousands of Antminers each year, according to Wang Jun, who leads work on the algorithms in Bitmain’s new deep-learning chips, and the bitcoin mining rigs are the firm’s major source of income. Wu that the mine in Ordos generates about $250,000 in revenue daily, and that he is planning to invest up to $200 million building new mines in the US. Bitmain has few competitors for the Antminer. Because chip manufacturers must depend on a rising bitcoin price to sell their wares, many were unable to stay afloat when prices dropped in 2014 and 2015. Today, Bitmain’s chief competitor is San Francisco-headquartered Bitfury, which makes its own chips, sells them, and maintains mines in Georgia, in eastern Europe. It has about. Bitmain now employs 600 people headquartered in a four-story building in a high-tech park of the sort favored by tech companies in Beijing. It’s renovating the building next door because it’s running out of space. Inside, barely anyone looks older than 25, as circuit boards jostle for space with company-provided cans of Coke and other soft drinks. The majority of employees don’t have a personal interest in bitcoin, says Nishant Sharma, Bitmain’s communications manager, doing their jobs without being invested in the debates, squabbles, and philosophizing of the cryptocurrency world. ASIC clouds: The future of deep learning? As the price of bitcoin skyrockets, Bitmain’s future in the cryptocurrency markets seems assured. But in the artificial intelligence race, it’s a minnow in a field dominated by giants. Why should a Beijing bitcoin startup be able to compete with Google, Nvidia, and AMD? Racks of Bitcoin mining machines inside Bitmain’s Ordos mine. (Aurelien Foucault for Quartz) Wang Jun, who heads the AI program under Zhan, has spent two years working on Bitmain’s deep learning chip. The idea is to etch in silicon some of the most common deep learning algorithms, thus greatly boosting efficiency. Users will be able to apply their own datasets and build their own models on these ASICs, allowing the resulting neural networks to generate results and learn from those results at a far quicker pace. This is a technique that Google’s DeepMind unit, based in London, used to, using its own Tensor Processing Unit chips. Bitmain plans to sell these chips to any corporation that wants to train its own neural nets—which means a vast swathe of the economy. Wang says tech firms like Baidu, Alibaba, and Tencent are among his target customers. Bitmain may eventually build its own data centers containing thousands of deep learning rigs and rent out that computation power to clients, just as it does with its bitcoin mines. Wang, a veteran of Baidu and Google, argues that Bitmain has an edge in the deep-learning race because its mining technology evolved from individuals using desktop computers, to graphics cards, to custom silicon. The deep learning industry is simply going through the same evolution that bitcoin miners already experienced. So what’s next? “ASICs,” Wang says. “In the bitcoin ASIC area, who’s the best in the world? Bitmain.” A nimble, highly focused, effort could take on the best efforts from the field’s giants, says Taylor, the professor. Bitcoin mining, with its focus on razor-thin margins and cost calculations, could have spawned a formidable competitor to the Googles and Nvidias of the world. “The companies that excelled in bitcoin mining have developed the skills to survive in an ultra-competitive, highly commoditized industry; have superior system-level design expertise and know how to keep data center costs down,” Taylor says. “The victors in the bitcoin [chip] design competition handily defeated US-based efforts.” Money is just a story we tell each other Zhan may have solved the problem of naming Bitmain’s deep learning ASIC, but he still has plenty on his mind. He’s months away from launching Sophon, which is due on the market before year’s end. Even after surviving the bitcoin crash of 2014, he says he still feels beset by crises and business challenges. He turns to philosophy for guidance. Around the same time he read The Three-Body Problem, he read Sapiens: A Brief History of Humankind, by Israeli historian Yuval Noah Harari. In it, Harari argues that storytelling is the human attribute that allows groups, society, and civilization to form. “If we believe in the same story we can work together,” Zhan says. I ask Zhan if he remembers that Harari argues that money is among the most powerful stories humans have told each other for centuries. “Yes—money, countries, democracy, even companies—all of these things are just virtual,” Zhan says. “After reading that book, I thought, yes, he is right. It impressed me so much. It’s a very good book.” Correction: An earlier version of this article said Micree Zhan graduated from Tsinghua; he completed work on his thesis at Tsinghua, but graduated from the Chinese Academy of Sciences. Read this next: Read this next. Bitcoin mining is an interesting way of trying to make a few bitcoin tokens on the side, but it also serves a very important purpose in maintaining and keeping the bitcoin blockchain secure. Unlike regular fiat currencies (such as US dollars or euros), bitcoin assets are not controlled by a central government or bank and new bitcoin (BTC) cannot be printed and issued like paper money. Instead, bitcoin tokens are introduced into the market via a process known as “mining”. BTC are awarded to the miners who have solved the math problems necessary to verify bitcoin transactions. In this guide we’ll look at how mining works, why it’s a necessary component of bitcoin infrastructure and whether it’s a good way of making a buck. Compare bitcoin cloud mining providers. • • • • What is mining? Whenever a transaction is made in bitcoin, a record of it is made on a block containing other recent transactions, like a page in a ledger. Once the block is full, bitcoin miners compete against each other to verify and validate the block and all its transactions by solving a complex cryptographic problem. The first miner to accomplish this is awarded a set amount of bitcoin, based on the mining difficulty at the time. The verified block is then added to the blockchain, a history of all blocks verified since the beginning of bitcoin, and transmitted to all users of bitcoin so that they can have the latest blockchain. Proof-of-work At the heart of bitcoin mining lies a hard, mathematical problem. Shame on you. This calculation is SO WRONG. Contracts expire after 365 years, dont sell ur stupid ref link and. The goal is to ensure that the process of adding a new block to the blockchain requires a lot of work. That helps to ensure that any hacker tampering with the transactions needs not only to mess with the transactions but also win the “race” of bitcoin mining. So how does it work? Basics of cryptography SHA-256, the mining algorithm used by bitcoin, is a one-way cryptographic algorithm. When you pass a word through SHA-256, you will be given back an unrecognisable string of letters and numbers called a “HASH”. For example, the SHA-256 of the word “BUTTERFLY” (source) is “8c62ace4f9ef8ccd08ca6fb992a8524bb7dbdc0530654bd254c9da07a660949a” (HASH). This seemingly random string of letters and numbers has three important properties: • Only the word “BUTTERFLY” will ever give that specific HASH. • The word “BUTTERFLY” will always give back that exact HASH. • There is no way of figuring out the word “BUTTERFLY” if you only know the HASH. With this information, we can now start piecing together the mining process. The mining process Bitcoin mining involves three variables: the block, the mining difficulty and a random number. Here’s how it all comes together: Imagine our block consists of the word “BUTTERFLY” discussed earlier. In reality, the block would contain a list of recent, unverified transactions, but let’s keep it simple. In order for the block to be solved, bitcoin uses a deceptively simple test: If the HASH result of the block starts with a certain number of zeros, the block is considered verified. This number of zeros is the “mining difficulty” and is increased as more miners join the bitcoin network. For our example, let’s say that we have a mining difficulty of just two, ie, our HASH must start with two zeros. The problem: “BUTTERFLY” will always return the same HASH, and it doesn’t start with two zeros. So what we need is the third variable, a random number (called a NONCE). We take this number, combine it with “BUTTERFLY”, and HASH again. If it doesn’t start with two zeros, we change the number and try again, and because changing one small number changes the whole HASH result, there is no way to predict the number we’ll need to solve this! We repeat this process over and over until we find a number that, when combined with “BUTTERFLY”, gives us a HASH that starts with two zeros. That number is the solution to the block. Details Features Buy, sell and exchange bitcoin and more than 50 altcoins on this easy-to-use Australian exchange. • Fees: 1-3% • Deposit currencies: AUD, BTC, LTC, DOGE • Payment methods: BPAY, POLi, cash, cryptocurrency Trade AUD and other fiat currencies against BTC, BCH or ETH at competitive rates. • Fees: 0.1-0.5% trading fee • Supported cryptos: BTC, BCH, ETH • Deposit methods: POLi, EFT, SWIFT, wallet transfer Bitfinex Multi-coin Exchange Spot trade all of the major cryptos on this full-featured exchange and margin trading platform. 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It's virtually impossible to mine enough bitcoin to recoup your initial investment in equipment and electricity. But if you’re not so concerned about making a buck, you could have fun panning for this cool currency. Disclaimer - Hive Empire Pty Ltd (trading as finder.com.au, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Please refer to our. We also provide general advice on credit products under our own Credit Licence ACL 385509. Please refer to our for more information. We can also provide you with general advice and factual information on about a range of other products, services and providers. We are also a Corporate Authorised Representative of Countrywide Tolstrup Financial Services Group Pty Ltd. ABN 51 586 953 292 AFSL 244436 for the provision of general insurance products. Please refer to our. 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PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. Ether Mining Calculator. This mining calculator will display your expected earnings. Etherscan is a Block Explorer and Analytics Platform for Ethereum. Ether Mining Calculator. This mining calculator will display your expected earnings. Etherscan is a Block Explorer and Analytics Platform for Ethereum. Monero can be very profitable to mine, whether it be using a cloud mining service or your own rig from home. Input all the information below, from your hashing power and any pool fees. Then depending on your mining setup, input power usage, power cost in kw per hour (you can find this on an electricity bill or averages in your area can be found online if you're unsure) and hardware costs if you are using your own rig, or your contract fee if you are using a cloud mining service. The results of the calculation are estimated below, based on the current difficulty level of Monero, as well as the exchange rate and price of XMR to USD. You can see daily, weekly, monthly and yearly profits, as well as the amount of time, in days, it will take for you to break even, taking into account your initial contract fee for cloud mining or your hardware costs if you've got your own rig. EthOS Mining OS ethOS is a 64-bit linux OS that mines Ethereum, Zcash, Monero, and other GPU-minable coins. Altcoins can be autotraded to Bitcoin. Please see the for documentation and answers to common questions. There are 74,924 ethOS rigs mining on 451,010 GPUs. Buy it Now • ethOS is • Buy it at • You must buy one ethOS for each rig on which you plan to use ethOS. Features • Boots and mines: Automatic IP/hostname assignment, no need to install any drivers, configure XWindows, or compile any software. • Supports up to 16 AMD RX Series GPUs: Including support for RX Series voltage control and Z170/X/Z270/X/Ryzen Chipsets. • Supports up to 16 NVIDIA GPUs: Any 2GB+ GTX 900 and GTX 1000 series. • Supports up to 8 AMD R7/R9 Series GPUs: Any 2GB+ HD 7000 series, any R9 200/300/Fury/Nano. • Supports multiple coins: Ready to mine Ethereum, Zcash, Monero and many other gpu-minable coins. • Browser-based terminal: allow setup and configuration of ethOS rigs by connecting to their IP addresses via your web browser. • Supports all hardforks and softforks: No need for extra Blockchain storage, blockchain syncing handled by pools and wallets. • Works on your hardware: Running on thousands of rigs with thousands of different components. • Remote configuration: Instruct rig to remote reboot, set core clocks, mem clocks, fan control, pool info, and other settings remotely. • Extremely lightweight: Works with weakest possible CPU made in the last 5 generations on only 2gb of ram. • GPU overheat protection: GPUs will automatically throttle or turn off if they reach temperature thresholds. • Stratum enabled: Automatically configured to mine via efficient stratum. • Automatic reporting: Web panel with detailed rig statistics, charts, and event reports (). • Easy KVM: A terminal window opens with focus on boot, no mouse required. • Easy update: Update to the latest ethOS version with a single command. • Fast startup: Fast miner startup, low disk/cpu usage, and no out-of-space issues. • Bios flashing: atiflash utility allows for quick gpu bios flashing. Development ethOS was released in February of 2016. All proceeds from ethOS sales are distributed among the development team. Nov 10, 2017 - Whether you're interested in becoming a Bitcoin miner for the first time or you're simply seeking a new Bitcoin mining pool, we're here to help! In this article, we'll examine the top five Bitcoin mining pools. It's worth noting that this article is about mining with your own Bitcoin mining hardware and not cloud. Bitcoin mining pools also have a pool-specific share difficulty setting a lower limit for shares. The Bitcoin network difficulty changes roughly every two weeks or 2,016 blocks. Best Litecoin Cloud Mining Services and Comparisons. There are limited options for Litecoin cloud mining contracts. If nothing on the list below meets. The race is on. Alexander Hassenstein/Getty Images Flashy startups like Coinbase, Circle, Blockchain, and BitPay are some of the most famous companies in bitcoin. But arguably more important are the miners — individuals and organisations who form the core backbone of bitcoin, ensuring the digital currency's integrity. Bitcoin runs on a blockchain, a decentralised and public ledger of every transaction made on the network. By offering processing power towards this, users get a chance to win bitcoin — creating an arms race of miners scrambling to assemble ever-more sophisticated and powerful equipment to 'mine' new bitcoin. This decentralisation has huge benefits, but also comes with new risks: Right now, if just the top three organisations joined forces they would control 51% of the network — giving them the power to rewrite the blockchain as they see fit. Some individuals go it alone; others join open 'pools' where they combine their resources to improve their odds; some larger companies also have mining efforts. While the #1 spot can change from week to week, we have ranked the biggest mining companies using data covering June 22-29, 2016,. Bitcoin or DASH mining contract @ 4M0anS = 3% discount. CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. |
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