this is the very basic for latecomer always doesn't understand.
i keep seeing they insist on mining bitcoin with SHA256 ASIC, i know its fun, its fun to see you generate money out of thin air, but thats not how we do it today because SHA256 ASIC era are gone, its very expensive playing field right now, if you insist want to mine some bitcoin, you should start mining using GPU!
lets calculate profitability of your SHA256 ASIC, and lets make it really easy by assuming some factor :
- you have free electricty
- your ASIC does not consume electricity
- your ASIC shipping cost is free
- you have ASIC right now in hour hand
- you bought ASIC for 1BTC price (for this example, i will use ASICMiner Cube 38GH/s which price is 1BTC right now)
now go here
you will see you will get 1 BTC in about 75 days right now (see the 2nd column from the rightmost), this value is not correct
since it does not account for difficulty increase
within 75 days, bitcoin difficulty are increasing about 35% in 2 weeks, thats about 70% per month, you will see the correct calculation is here
which you will never get 1BTC within a year, and after 6 months your ASIC doesn't generate bitcoin anymore
now lets compare it to GPU miner for Scrypt mining, which i use realistic assumption
- you dont have free electricity, you will pay 0.1$/KWH
- your GPU rig consume constant max amount of electricity that it need 24/7
- your GPU rig come with shipping cost
- you have GPU rig in your hand right now
- you bought GPU rig for 1 BTC ( its about 1000$, for this example i will use 2x AMD R9 280X which cost 800$ and will produce 1.6MH/s with cost about 750W/h )
now go here
, you will see that on the most profitable coin (first row) you will get 1 bitcoin for about 30 days (its 45 days faster than SHA256 ASIC), how about difficulty increase within these period, this factor is not as scary as bitcoin, lets see difficulty chart for LTC here
, you will see that the diff is up and down, by calculating the data history for 1 year, you will get that LTC difficulty increase is about 3% per month on average (this is 25x smaller than bitcoin difficulty change rate), so coinwarz data is not too much way off here by not take into account of difficulty increase
- you get 3500% more profit mining scrypt altcoins using GPU than mining bitcoin using SHA256 ASIC, for same price of hardware.
- mining using GPU are less risk because you can buy GPU rig anytime, anywhere, no pre-order.
- you get 1BTC in 30 days for mining altcoin with GPU, compared to 300+ days for mining bitcoin with ASIC
note: this calculation are made in worst case
scenario for GPU compared to best case
scenario for bitcoin ASIC
thats just prediction and calculation, things will go wrong right? lets see the report from my own GPU mining rigs here
, see 2nd sheet (RIG1-Report), this is my earning report day to day in BTC (already running since december 2013), my rigs cost about 2000$ (this is 2nd hand 6x AMD 7970 for 4.2MH/s) and will ROI within 50 days from start if my calculation are correct
R9 280X : 280 Hash/s: Equihash: 140: 1070 MHz: 1700 MHz: Asus: AMD: Asus R9 280X Hashrate : P106-100 6GB Mining Only: 24.5 MHash/s: Ethereum: 100 +250 MHz +1300 MHz: Colorful: Nvidia: Colorful P106-100 6GB Mining Only Hashrate : P106-100 6GB Mining Only: 301 Hash/s: Equihash: 100 +250 MHz +1300 MHz: Colorful: Nvidia: Colorful P106-100 6GB ... An easy to use crypto-currency finance utility used to calculate a Bitcoin Gold miner's potential profits in ETH and multiple fiat currencies. The calculator fetches price and network data from the internet and only requires the hash rate (speed of mining) from the user. A projected future profit chart is created dynamically and displayed instantly. Bitcoin Price Chart History provides the latest bitcoin price and cryptocurrency prices as well as information about ICOs and the latest ICOs available. You can also view mining equipment benchmarks. Get everything Cryptocurrency at Bitcoin Price Chart History. *Please note that values are only estimations based on past performance - real values can be lower or higher. Exchange rate of 1 BTC = 10588.37 USD was used. Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners since May 2013 - developed by an OG Bitcoin miner looking to maximize on mining profits and calculate ROI for new ASIC miners. Updated in 2020, the newest version of the Bitcoin mining calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware.
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