12 Biggest Bitcoin Mining Calculator Tool in 2020

New people please read this. [upvote for visibility please]

I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can.
Preface
Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here.
If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier.
Mining. What is it?
Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section.
Mining Hardware
While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much.
Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it.
So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy.
Should I mine?
Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats
PCPartPicker part list / Price breakdown by merchant / Benchmarks
Type Item Price
CPU AMD Sempron 145 2.8GHz Single-Core Processor $36.01 @ Amazon
Motherboard ASRock 970 EXTREME4 ATX AM3+ Motherboard $99.48 @ OutletPC
Memory Crucial Ballistix Tactical Tracer 4GB (1 x 4GB) DDR3-1866 Memory $59.99 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Power Supply SeaSonic Platinum 860W 80+ Platinum Certified Fully-Modular ATX Power Supply $146.98 @ SuperBiiz
Total
Prices include shipping, taxes, and discounts when available. $1078.60
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s
Hardware Fundamentals
CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with.
RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory.
HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats)
GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like.
PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption.
MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less.
PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied.
When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info.
Mining Software
Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head)
Mining Pools
Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself.
How do I connect to a pool?
Most pools will give you a tutorial on how to but the basics are as follows:
  • Signup for a pool
  • Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
  • Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
  • Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability
This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine:
Hardware cost: The cost of your physical hardware to run this whole operation.
Power: Measured in $/KwH is also known as the operating cost.
Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon.
Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously.
Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones.
coinwarz
I like this one cause it is simple. The fields are self explanatory. Try it.
bitcoinwisdom
I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account.
Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it!
More Below.
submitted by craeyon to litecoin [link] [comments]

The Concept of Bitcoin

The Concept of Bitcoin
https://preview.redd.it/5r9soz2ltq421.jpg?width=268&format=pjpg&auto=webp&s=6a89685f735b53ec1573eefe08c8646970de8124
What is Bitcoin?
Bitcoin is an experimental system of transfer and verification of property based on a network of peer to peer without any central authority.
The initial application and the main innovation of the Bitcoin network is a system of digital currency decentralized unit of account is bitcoin.
Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions in a collective and automatic way. As a free Protocol (open source), it also allows interoperability of software and services that use it. As a currency bitcoin is both a medium of payment and a store of value.
Bitcoin is designed to self-regulate. The limited inflation of the Bitcoin system is distributed homogeneously by computing the network power, and will be limited to 21 million divisible units up to the eighth decimal place. The functioning of the Exchange is secured by a general organization that everyone can examine, because everything is public: the basic protocols, cryptographic algorithms, programs making them operational, the data of accounts and discussions of the developers.
The possession of bitcoins is materialized by a sequence of numbers and letters that make up a virtual key allowing the expenditure of bitcoins associated with him on the registry. A person may hold several key compiled in a 'Bitcoin Wallet ', 'Keychain' web, software or hardware which allows access to the network in order to make transactions. Key to check the balance in bitcoins and public keys to receive payments. It contains also (often encrypted way) the private key associated with the public key. These private keys must remain secret, because their owner can spend bitcoins associated with them on the register. All support (keyrings) agrees to maintain the sequence of symbols constituting your keychain: paper, USB, memory stick, etc. With appropriate software, you can manage your assets on your computer or your phone.
Bitcoin on an account, to either a holder of bitcoins in has given you, for example in Exchange for property, either go through an Exchange platform that converts conventional currencies in bitcoins, is earned by participating in the operations of collective control of the currency.
The sources of Bitcoin codes have been released under an open source license MIT which allows to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the software, subject to insert a copyright notice into all copies.
Bitcoin creator, Satoshi Nakamoto
What is the Mining of bitcoin?
Technical details :
During mining, your computer performs cryptographic hashes (two successive SHA256) on what is called a header block. For each new hash, mining software uses a different random number that called Nuncio. According to the content of the block and the nonce value typically used to express the current target. This number is called the difficulty of mining. The difficulty of mining is calculated by comparing how much it is difficult to generate a block compared to the first created block. This means that a difficulty of 70000 is 70000 times more effort that it took to Satoshi Nakamoto to generate the first block. Where mining was much slower and poorly optimized.
The difficulty changes each 2016 blocks. The network tries to assign the difficulty in such a way that global computing power takes exactly 14 days to generate 2016 blocks. That's why the difficulty increases along with the power of the network.
Material :
In the beginning, mining with a processor (CPU) was the only way to undermine bitcoins. (GPU) graphics cards have possibly replaced the CPU due to their nature, which allowed an increase between 50 x to 100 x in computing power by using less electricity by megahash compared to a CPU.
Although any modern GPU can be used to make the mining, the brand AMD GPU architecture has proved to be far superior to nVidia to undermine bitcoins and the ATI Radeon HD 5870 card was the most economical for a time.
For a more complete list of graphics cards and their performance, see Wiki Bitcoin: comparison of mining equipment
In the same way that transition CPU to GPU, the world of mining has evolved into the use of the Field Programmable Gate Arrays (FPGA) as a mining platform. Although FPGAs did not offer an increase of 50 x to 100 x speed of calculation as the transition from CPU to GPU, they offered a better energy efficiency.
A typical HD/s 600 graphics card consumes about 400w of power, while a typical FPGA device can offer a rate of hash of 826 MH/s to 80w of power consumption, a gain of 5 x more calculations for the same energy power. Since energy efficiency is a key factor in the profitability of mining, it was an important step for the GPU to FPGA migration for many people.
The world of the mining of bitcoin is now migrating to the Application Specific Integrated Circuit (ASIC). An ASIC is a chip designed specifically to accomplish a single task. Unlike FPGAs, an ASIC is unable to be reprogrammed for other tasks. An ASIC designed to undermine bitcoins cannot and will not do anything else than to undermine bitcoins.
The stiffness of an ASIC allows us to offer an increase of 100 x computing power while reducing power consumption compared to all other technologies. For example, a classic device to offer 60 GH/s (1 hashes equals 1000 Megahash. 1GH/s = 1000 Mh/s) while consuming 60w of electricity. Compared to the GPU, it is an increase in computing power of 100 x and a reduction of power consumption by a factor of 7.
Unlike the generations of technologies that have preceded the ASIC, ASIC is the "end of the line" when we talk about important technology change. The CPUs have been replaced by the GPUs, themselves replaced by FPGAs that were replaced by ASICs.
There is nothing that can replace the ASICs now or in the immediate future. There will be technological refinements in ASIC products, and improvements in energy efficiency, but nothing that may match increased from 50 x to 100 x the computing power or a 7 x reduction in power consumption compared with the previous technology.
Which means that the energy efficiency of an ASIC device is the only important factor of all product ASIC, since the estimated lifetime of an ASIC device is superior to the entire history of the mining of bitcoin. It is conceivable that a purchased ASIC device today is still in operation in two years if the unit still offers a profitable enough economic to keep power consumption. The profitability of mining is also determined by the value of bitcoin but in all cases, more a device has a good energy efficiency, it is profitable.
Software :
There are two ways to make mining: by yourself or as part of a team (a pool). If you are mining for yourself, you must install the Bitcoin software and configure it to JSON-RPC (see: run Bitcoin). The other option is to join a pool. There are multiple available pools. With a pool, the profit generated by any block generated by a member of the team is split between all members of the team. The advantage of joining a team is to increase the frequency and stability of earnings (this is called reduce the variance) but gains will be lower. In the end, you will earn the same amount with the two approaches. Undermine solo allows you to receive earnings huge but very infrequent, while miner with a pool can offer you small stable and steady gains.
Once you have your software configured or that you have joined a pool, the next step is to configure the mining software. The software the most populare for ASIC/FPGA/GPU currently is CGminer or a derivative designed specifically for FPGAS and ASICs, BFGMiner.
If you want a quick overview of mining without install any software, try Bitcoin Plus, a Bitcoin minor running in your browser with your CPU. It is not profitable to make serious mining, but it is a good demonstration of the principle of the mining team.
submitted by Josephbitcoin to u/Josephbitcoin [link] [comments]

Making profit from Altcoins by means of this method ?

This is a little over 2 years ago , article , http://www.cryptobadger.com/2013/05/altcoin-explosion-profit/ But I believe the theory should still work today . Basically it's talking about how-to mine altcoins in short-term and still make profit from it. Please bare with me , I've only been researching mining digital coins for the past 3 days (almost non-stop) , and feel that I've made some good progress (in understanding all of this topic) , but still I have much more to learn. With that said I have the following important questions (I need help fully understanding correctly):
(but before my questions, I'd recommend reading the above mentioned article, or you may simply see the following summary of the theory mentioned in said article:
  1. Check CoinChoose often.
  2. If an altcoin is significantly more profitable than litecoin, switch your miner(s) over to it by signing up for a mining pool that deals with that particular altcoin and pointing cgminer at it.
  3. Sign up for Vircurex, Bter.com, or another cryptocurrency exchange.
  4. Cashout from the altcoin mining pool directly into Vircurex (you can generate addresses within the “accounts” section of Vircurex for this purpose).
  5. Trade the altcoin for bitcoin (or litecoin, or whatever you want) on Vircurex.
  6. Profit!
)
Now onto my questions:
  1. Taking as example, right now at this moment, Friday 28-08-2015 @ 2:06pm Eastern Time (US) .... Novacoin has (% profitability of BTC) equal to 25,918.69% , compared to Litecoin having (% profitability of BTC) equal to 15,954.03% ; of course Bitcoin has (% profitability of BTC) equal to 100% . Does this mean that if I start mining novacoin I would be generating significantly more (& faster) "digital-money" than otherwise mining (at this very moment) any other digital-currency (assume using same miner hardware & of course altcoins values are different across each other) ?
  2. Taking as example #1 above and noting the theory mentioned above , if I were to attempt to make profit from mining the most profitable altcoin at any given time , to do so I would for each time the rankings of altcoins changes in the list seen at http://www.coinchoose.com/ , I would have to obtain a wallet specific to that altcoin I am going to mine & also join a mining pool specific to that altcoin , in order to proceed with mining that most profitiable altcoin using my miner device (& of course make the necessary changes, e.g. change from scrypt to sha-256 , or vice versa, & Etc.) ?
  3. Since I am set on trying out this theory , and because I'd like to make the most money possible , for all of this to be worth my while , I must get a miner that is "ASIC" but that is capable of doing both "scrypt" & "sha-256" , and which has the highest possible speed available (I am thinking of a miner that has 1 TH/s) , are these points made here all correct (in this question #3) ?
  4. Staying with the theme of fastest miner I can get (as stated in the above question #3) , should I expect that if I am mining a altcoin that is significantly less in value & less in dificulty , then I should be able with this miner significantly mine , significnatly several more coins than if I were to be mining bitcoin itself (of course understanding that from digital-currency to another digital-currency the vaules are different) ? And follow up question to this one, if mining an altcoin that is significantly less in value than bitcoin but still using the same miner device that I would use for bitcoin mining, namely the fast 1 TH/s speed miner, then mining solo that altcoin is as good or almost as good as mining in pool that altcoin (the same cannot be said about mining bitcoin, where you really must use a mining pool in order to be succesful) ?
  5. A question about mining pools , I understand that it is a much of devices joining teams together to solve the algorithm , but in these pools is the work being broken up across the different devices so that no repetitive calculations are being done , or how exaclty does the work within a mining pool work-out-to-be (I would hope it's not a brute force job and that there is some form of efficiency going on in these mining pools) ?
submitted by JessicaCediel to altcoin [link] [comments]

Best Bitcoin Mining Software That Work in 2020 Bitcoin Miner ++10BTC Daily Best Mining Generator Premium Payment Proof Legit Site!! BitcoinSOV Windows Solo Miner Setup Tutorial How to solo CPU mine Bitcoin & Bitcoin derived cryptocurrencies (Works on OS X and Windows) tutorial Bitcoin mining with CGMiner

0xBitcoin is unique ERC20 token. ERC20 tokens, are tokens that run on top of the Ethereum network, and are stored in a Ethereum ERC20 compatible wallet. 0xBitcoin is a token that has the same supply and mining algorithm as Bitcoin.It also is one of the only ERC20 tokens that uses Proof of work.To sum it up, 0xBitcoin is a Bitcoin like token, that works with Ethereum smart contracts, because it Bitcoin mining software is actually the tool that hooks your hardware into your desired mining pool. With the help of the mining software the miner tells the pool which Bitcoin address the payouts have to be sent. Bitcoin Mining calculator software displays statistics like the hash rate, speed of your miner, temperature and the fan speed. Acting as a wrapper for BFGMiner and CGMiner software, the GUI-based Bitcoin mining software is very convenient. The are 2 protocols this software supported with : stratum mining and getwork mining. Both pool and solo mining can be executed on the software. Home - Litecoin Mining. You have heard of the extraction of Litecoin and you want to know more.This page is for you. Just like his older brother Bitcoin, Litecoin is an online network that people can use to send payments from one person to another.Litecoin is peer-to-peer and decentralized, which means it is not controlled by a single entity or government.The payment system does not manage Bitcoin Qt Server Solo Mining With Cgminer. October 21, , No, I will not buy a lottery ticket instead. This is for fun, not a quick profit. Well, now that is out of the way I decided to go ahead and get some of my USB Erupters solo mining and after reading a heap of threads asking how to do it, and most going no where I thought I would write up

[index] [28102] [2540] [11131] [20431] [3012] [5556] [13973] [19265] [24605] [11728]

Best Bitcoin Mining Software That Work in 2020

You can choose between pooled mining and solo mining – the software embeds a list of mining pools to choose from. Bitcoin Miner Machine is the premier Bitcoin Mining tool for Windows and is one ... USB Bitcoin Miner - The Power of 1000 ... How to start Bitcoin mining for beginners ... We Do Tech 744,309 views. 13:51. How to solo CPU mine Bitcoin & Bitcoin derived cryptocurrencies (Works on ... If you have anti-virus software running, and/or Windows Defender turned-on, whitelist or add exceptions to the folder containing your Bitcoin mining files, then edit the Pool Mining and/or Solo ... 🍓 Best Bitcoin Mining Software That Work in 2020 🍓 - Duration: 5:34. Step-By-Step Guide Clicksure 121,739 views. ... Nexalt Solo Miner Setup - Duration: 5:20. Muhammad Nouman 1,918 views. Whether it is cloud mining, pool mining or solo mining, our software can deliver the work to the network of miners at the fastest speed..--- Recommended Site number -- 1 ----- https://bit.ly/3eG3MsB

Flag Counter