When people start their adventure with Bitcoin, they often go through a small gold fever with the concept of mining (I would know, that's how I started;) ). Here is a small guide to answer your eternal question 'will I make money with it?' : First of all, lets talk about (click on the link for a long and useful list).

You won't make money mining bitcoins unless you either have a really high-end GPU from ATI, an FPGA or an ASIC. That's the short answer. Having a decent CPU can be used for, which can be a small income in itself, but we are here to talk about Bitcoin. To see whether you will earn any money, you need to: • cost of your hardware (cost of buying an ASIC, GPUs, motherboards, power supplies, etc.) • how fast can it hash (mega hashes per second). This you can get from your • how much power does it consume (again, ) • your cost of electricity (check with your power company) And then there are two magical variables that will either make it all work out, or be doomed for failure: * difficulty - it is automatically filled in by the calculator, but for long-term mining (more than a few weeks), you want to be a pessimist.

Mining profitability calculator TRON Uses current difficulty data and chooses exchange websites where you will be able to sell coins TRX with the best exchange rate.

Multiply the value by 10 for predictions over a few months or 100 for a year or two (it will rise steeply soon) * bitcoin price - also filled by the calculator - it might go up or down in the future, affecting your bottom line. It will probably increase in the long run, but lets be pessimistic and lower that to $10-$20 to make sure we are earning money no matter what Having all your hard data and your guesses on the last two variables, you put it all into the and see what you get. You will get your earnings in BTC and dollars, as well as summary of your costs and when you will brake even, and what will your net income be over your investment period. Most likely you won't be earning money with Bitcoin mining, and that's okay - mining has become a very specialised process. If you want to invest money into new ASICs, you might be able to turn a tidy profit.

TLDR: Use to check everything. ASICs may earn you money, GPUs won't anymore. Even the mining calculators will fool people who are very new. The difficulty is about to skyrocket, meaning GPU/FPGA hw purchased now will never break even (vs a direct BTC investment, at least.) There is a significant barrier to entry with ASICs - only 1 company is accepting orders and they're almost 5 months behind their delivery schedule, and continue to delay it.

There is no guarantee they will ever have a working product, being so far behind certainly makes ordering a risk. Bottom line is that trying to get into mining is a losing proposition for newbies. OTOH, if you decide to make a sizable direct investment, buying an ASICs machine is a good way to further secure that investment, by distributing the network power and making it more secure. However, since you can currently only 'pre-order' them, that's not yet a safe option.best to wait until these companies are actually delivering. Correct, it's possible.

It's profitable, however, in the same way that buying lottery tickets or playing slots is profitable. There's the chance for a big payoff with low investment, but it's much more likely that you'll receive nothing at all. I'm still brand new too, so I might be misunderstanding something as well, but when people talk about earning 0.08 BTC a day or whatever, they're part of a mining pool that combines the efforts of a bunch of different people and pays out to members based on their contributions. Lower max, but much more consistent. Can you explain why the hardware will degrade faster if it is continuously mining? I ask because I've recently begun to look into Bitcoin mining with my current gaming comp, and I don't see how my 7850 could be degrading faster.

It's currently overclocked, mining whenever I am not playing games, reaching ~305MHash/s. It only reaches temperatures of 54C, and my PSU is more than enough for my rig. Under these circumstances, I'm certain the only way it could degrade would be from continuous use. Einsteinium EMC2 Minning Calculator. However, I don't know why it would even degrade from this, so an explanation would be fantastic.