Best Ethereum Cloud Mining Genesis Block Mining Calculator
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A long time ago I purchased a Butterfly Labs rig to mine Bitcoin. During that time I lived in a student house for which the rent included energy costs. This seemed like a perfect deal and a quick calculation showed that I would earn my investment back in just a matter of weeks.
However, at that point the difficulty started to increase significantly and each day that passed shifted my break even date with two days. For mining ethereum calculator you do not need to be an economist to see that the break even date would never come. So after a while I decided to sell the mining rig and just invest it in bitcoin. You will probably think, why is this guy talking about bitcoin while the title clearly states ether, well that is because of mining ethereum calculator following: Some articles are about the recent price increase or about the opportunities and risks and even some about mining.
And the articles about mining and cloud mining triggered me to build a reliable ether mining profitability calculator. As with the bitcoin story there mining ethereum calculator mining profitability calculators available, however these work with fixed or simple difficulty mining ethereum calculator. And with the current growth in net hash rate basically all these profitability calculators provide a too rosy image.
That is why I build a profitability calculator which, based on the predicted net hash rate and daily ether to miner rewards, provides a realistic view of your investment returns. Source mining ethereum calculator collection To be able to predict the net hash rate and daily ether mining ethereum calculator miners I needed data.
I ran a quick search on google but could not find a recent full dump of the ether chain, which made me decide to collect it myself. To do this I downloaded geth and started the ether chain synchronization process. With the command below I started a local instance of the mining ethereum calculator client which enabled me to very quickly communicate with the chain.
I used R to retrieve the block data from the chain and saved it to sql with R as well. The net hash rate is the total hash mining ethereum calculator of the network. A prediction of this value is important because the percentage of your attribution determines the number of ethers you get in a specific period.
The block timestamp and difficulty are of interest for estimating the net hash rate. There might be other ways to do this but for this application this works. Each day there are between This is the total amount of ether rewarded to all the miners per day. As a miner you can ether in several different ways, see this list below which includes all of the ways to earn ether:. The data collection and preparation was done in R as well as the forecasting and visualizations.
These however where not production ready yet and needed additional work. Recently I came across shinyapps. In mining ethereum calculator input section you can enter your hashrate and investment cost. Click on 'Show advanced options' to change the days to forecast, date of investment, ether sell price, energy consumption and energy price. If you are a cloud miner you can set the energy price to 0.
Based on the values you provided this app calculates the expected ROI and ether mined after the forecasted period. You can use the chart to see your mining ethereum calculator at an earlier mining ethereum calculator. You can zoom in by selecting a specific period in the chart, double clicking resets your zoom. In the output sections you can see three tabs: ROI, Net hash rate forecast and Daily ether to miners. The ROI return on invesment tab shows the rate at which you are earning money.
The net hash rate forecast tab show you a forecast of the predicted future hashrate. The daily ether to miners tab show you the predicted amount of ether which is rewarded to the miners. I'm new to crypto so reading about other people's experiences helps.
Ethereum mining profitability calculator dashboard. This post describes the steps I took to create the calculator and how you can use it. Data collection and preparation Source data collection To be able to predict the net hash rate and daily ether to miners I needed data.
Daily ether to miners This is the total amount of ether rewarded to all the miners per day. As a miner you can ether in several different mining ethereum calculator, see this list below which includes all of the ways to earn ether: If you are interested have a look at 30 biggest blockrewards.
The dashboard The data collection and preparation was done in R as well as the forecasting and visualizations. Authors get paid when people like you upvote their post.
