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Discussion based on cloud mining specifically using HashFlare.

Hi, I've been reading up on Hashcash and the precursors to Bitcoin's proof-of-work system. One thing that I'm having trouble finding is the relationship between calculated difficulty and hash function bit digests.

To use MD5 as an example: it has a 128 bit output. Theoretically each of these bits has a 50% chance of being 1 or 0; therefore, the odds of a given output having some k leading bits set to 0 is 1/2^{k.} Is this correct, or am I missing something fundamental about the way this works?

Also, I know that MD5 is broken, but this is assuming the pseudo-randomness of crypto hash functions is working as intended.

submitted by sexPekes to Bitcoin [link] [comments]
To use MD5 as an example: it has a 128 bit output. Theoretically each of these bits has a 50% chance of being 1 or 0; therefore, the odds of a given output having some k leading bits set to 0 is 1/2

Also, I know that MD5 is broken, but this is assuming the pseudo-randomness of crypto hash functions is working as intended.

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Using the Wisdom Bitcoin difficulty calculator, I put in the specs of 1 s9, and assumed the us average of .10 cents per kilowatt hour, and 2% slushpool fee. On even optimistic assumptions, it shows that by Feb. 2018, you are already will be loosing money.

I've attached screenshots here, if you don't want to do the math yourself.

https://imgur.com/a/80GID

On the second screenshot, we see that assuming even zero electricity cost, and zero startup cost, that by Jan or Feb 2018, your S9 will only be making 80$ a month or less.

Lets assume you buy 1 s9 and set it up for 1300$ (0.24BTC) (extremely optimistic), and then run it somewhere with free electricity. IT WILL NEVER MAKE YOU BACK YOUR ROI. You can see from the chart it maxes out at 0.203, that is all you will ever make. Even if bitcoin price rises and you covered your ROI, you would have made twice as much just holding 1300$ in BTC to begin with.

Because of this, I dont understand how all batches of s9's are sold out at bitmains website. I know people who just bought 5 of them in the last order.

What is their reasoning? How do you think this is viable? I would love to be proved wrong.

submitted by senile_robot to BitcoinMining [link] [comments]
I've attached screenshots here, if you don't want to do the math yourself.

https://imgur.com/a/80GID

On the second screenshot, we see that assuming even zero electricity cost, and zero startup cost, that by Jan or Feb 2018, your S9 will only be making 80$ a month or less.

Lets assume you buy 1 s9 and set it up for 1300$ (0.24BTC) (extremely optimistic), and then run it somewhere with free electricity. IT WILL NEVER MAKE YOU BACK YOUR ROI. You can see from the chart it maxes out at 0.203, that is all you will ever make. Even if bitcoin price rises and you covered your ROI, you would have made twice as much just holding 1300$ in BTC to begin with.

Because of this, I dont understand how all batches of s9's are sold out at bitmains website. I know people who just bought 5 of them in the last order.

What is their reasoning? How do you think this is viable? I would love to be proved wrong.

We may notice that the second 2-year cycle (6500%) is at 38% of the first 2-year cycle (16982%). Therefore if this pattern continues, we might see another parabolic increase which could again be expressed as 38% of the last cycle, which would translate into 2470%. escalation. If we choose variable x to be 3933 dollars and we know it will experience shift in price by whopping 2470%, then that means that the price could potentially reach… Well, you do the math :) submitted by TheAnchor_io to Bitcoin [link] [comments] https://preview.redd.it/916edpwtz4n31.png?width=768&format=png&auto=webp&s=d34dc8a04ac9528bafbd7444b68cd66910db7a93 |

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submitted by Maximus020202 to Bitcoin [link] [comments] |

Lets say I buy one antminer s9, and run it somewhere I can get free electricity. A typical bitcoin mining profitability calculator will say that at 1300watts, I'll make around 500$ a month. Thats a projected 6k per year which is an amazing ROI, but I want to know how I can accurately account for increasing difficulty costs.

I know that we can never fully predict the fluctuation of bitcoin prices and mining costs, but I want to hear from people who have been in the game a while, what they think. When does mining difficulty increase to a point where the s9 is no longer viable with a typical american electricity cost of 8cents per kilowatt hour? When is it no longer viable for hobbyists at all?

submitted by senile_robot to BitcoinMining [link] [comments]
I know that we can never fully predict the fluctuation of bitcoin prices and mining costs, but I want to hear from people who have been in the game a while, what they think. When does mining difficulty increase to a point where the s9 is no longer viable with a typical american electricity cost of 8cents per kilowatt hour? When is it no longer viable for hobbyists at all?

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c34d6b0e7d4f724b98569170cd0d14b03a4339e3c99deb5d237dc783d7c05506, thank you Bitcoin Cash, for your easily exploited difficulty calculation

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Author: Amperture

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c34d6b0e7d4f724b98569170cd0d14b03a4339e3c99deb5d237dc783d7c05506, thank you Bitcoin Cash, for your easily exploited difficulty calculation

Go1dfish undelete link

unreddit undelete link

Author: Amperture

submitted by BitcoinAllBot to BitcoinAll [link] [comments] |

The Bitcoin difficulty chart provides the current Bitcoin difficulty (BTC diff) target as well as a historical data graph visualizing Bitcoin mining difficulty chart values with BTC difficulty adjustments (both increases and decreases) defaulted to today with timeline options of 1 day, 1 week, 1 month, 3 months, 6 months, 1 year, 3 years, and all time 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. Bitcoin difficulty is an estimate about how difficult it is to mine (find) a new bitcoin block. Bitcoin mining has two main purposes. One is adding transactions to the bitcoin block chain. The other purpose is to create new bitcoins. 3. Conclusion: A Bitcoin Mining Calculator Predicts the Future. To conclude, a Bitcoin mining calculator can give you a much better idea about your potential to run a profitable mining operation. Remember, however, that some factors such as Bitcoin’s price and mining difficulty, change every day and can have dramatic effects on profitability ... Bitcoin Difficulty – Begrenzung der Rechenleistung. Wir alle wissen, dass Bitcoin eine quelloffene, dezentrale digitale Währung ist, in der die Miner, die Teil der Bitcoin-Gemeinschaft sind, Rechenleistung beisteuern, um neue Blöcke zu schürfen und Transaktionen über das Netzwerk zu bestätigen. Dies geschieht, indem man die Transaktions-IDs mit dem bestehenden Datensatz auf der ...

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