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How to calculate the bitcoin mining profitability

09/06/2018
|
  • Cryptocurrency
  • trading
  • bitcoin
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Whether mining will be profitable

After the price of the cryptocurrency reached its maximum, it began to decrease gradually. These predictably lowered revenues from using farms and asics. Therefore, there was a need for more thorough preparation when starting a business.

Since Bitcoin does not refer to the simplest currencies for calculation, some rumours of a low profit when working with this coin appeared. In fact, the complexity of the calculations is now at its high level. But its algorithm allows you to cope with this problem. Initially, it was calculated that the search for one block takes 10 minutes on average. If the number of miners increases, the speed starts to multiply automatically. When there is a massive decrease in the capacity of the connected equipment, then the complexity begins to fall.

It is necessary to remember one more important detail. The amount sum that bitcoin to USD calculator will show is counted from the current rate. However, the volatility of the BTC / USD pair is changing a lot. For BTC / GBP, the rate also does not remain stable. And if the buyer of the farm is going to start the mining process in a few months, then he can expect a surprise.

How the currency calculator works

To clarify the data on the potential income from the farm or asic, it is recommended to visit several online calculators and compare the calculations. This will be easier if the investor has already chosen the equipment and wants to make sure of the correctness of his decision. On the site, you need to enter the following data:

  • current complexity of mining coins;
  • hashrate and electricity consumption per one hour;
  • allowance for one block;
  • the rate of one bitcoin in exchange for fiat money;
  • price of electricity;
  • cost of equipment

Some resources allow the short-cut calculations. There it is necessary to specify the type and configuration of the farm, from which the embedded algorithm of the site itself will determine the costs of electricity and hash rate.

To increase the profit, miners use the overclocking of the crypto farms when connected. Feeding a higher voltage allows obtaining an increase in productivity by 3-10%. This technology operates not only on graphics cards but also on the asics. During their development engineers allow some increase in capacity. However, in this case, the load on the components increases and the service life of the equipment can be shortened.

What equipment to choose

If you are going to mine BTC, bitcoin mining calculator UK will offer several options for earning. There are resources on the Internet that provide computing capacity for rent. With an accurate calculation, it becomes possible to refuse the purchase of graphics cards or asics.

In this case, the initial costs will be much lower, but it is also more difficult to get the large income. But in the case of the change in market conditions, it will be easy to switch to the mining of another coin or find a new way of investing. Although bitcoin is the most liquid asset, some of the miners call its algorithm obsolete.

Indeed, here the transaction speed is far less than that of the Ether or NEM. But it's rate is more stable due to high liquidity. More than 50% of the total capitalization of the cryptocoins is occupied by bitcoin.

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