Greetings Steemians, friends and friends. A big greeting to all my new subscribers and thank all those who are always there with their appreciated Upvote
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In case you're wondering, I'm not the one in the picture. In real life I am much more attractive. I only put it as a reference for supercomputers and computers that are being used to mine crypto coins.
Well, many have heard of mining coins and others may have no idea what it is. For those who do not know yet, I will put a small summary in a personal way of what I know so far. (For those who are already mining with their equipment as they can skip this short summary to the real-time earnings calculations section)
Mined of Crypt Coins: It is known as minar coins to the action of using computer equipment supported on high power graphics cards, to obtain new solutions to a problem defined by a network of some crypto currency in particular. When we say new solutions we refer to arrangements of numbers and letters that allow us to complete conditions that allow us to satisfy that problem. From time to time the network establishes a new problem to be solved. For example in the case of Bitcoin that time is 10 minutes. Equipment connected to the p2p network (point-to-point) through mining pools or directly linked to the network must try out countless random combinations to find that Blessed Hash. Each time a solution is found it is passed to a next problem but the difficulty of the new problem increases. These difficulties will increase as more solutions are found in a network. Once a successful team finds a solution, which is accepted by the network, then a reward is generated in the form of a new block. That block contains a number of coins that are distributed among the participants. Of course, if a single miner finds a solution on his own, the profit will be only for that miner.
This is roughly a mining process based on Proof of Work, in Spanish Proof of Work. I ask you not to get too entangled in these issues without having read and understood by yourselves. For more information click here
Now this article is not intended to give a class of mining and algorithms. What I intend is to show you how profitable it is and how you can calculate yourself the profitability of a team in real time.
The market for coin mining equipment has grown from a few years to the present day. So much has been the growth that there are companies dedicated to manufacturing the best equipment of mine called ASIC (An application-specific integrated circuit) in Spanish seria "Specific application of integrated circuits". These computers are computers but with a very small size and with capacities only for the minimum necessary. Let's see what one of them looks like:
It looks like a bunch of circuits with a couple of fans (Fan Coolers) connected to both sides. As they are actually a mini computer with multiple video cards connected. But how did they make it so small if my computer is 10 times that device?
Computers have a lot of parts and parts that we normally use. For example: USB ports, audio connectors, video connectors, expansion slots, etc. These manufacturers have only placed the minimum necessary and instead of placing a video card as we know them, something like this:
They have placed a board that has several video card chips like that. Thus they have managed to reduce the sizes to the maximum.
Then after so much theory, let's get down to business.
How much can I earn by having a team of these? Is it profitable? How much do they consume electricity?
I will introduce you to two manufacturers that I recommend:
Bitmain
Baikal
Of them two I will use a recent model of the company Bitmain that promises to be very profitable. I introduce you to:
AntMiner L3 +
This appliance is the size of a toaster and can be mined at a speed of 504 MH / s. That means that it processes: 504,000,000 solutions in one second. It is very powerful and in relation to its current price of 2004.49 $ (for Fri 23/06/17) it would be very good to know how profitable it is?
Calculating the Profitability of a Miner
I use a very good tool that allows me to have real-time data from actual computers that are mining in other parts of the world. The tool I use is the probability calculator of
NiceHash.com:
- Once on the page proceed to go to the menu at the bottom of the page:
- Click where it says "Profitability Calculator", in Spanish "Calculator of Profits":
- I'll explain:
The checkbox to locate a type of miner you already have registered on your system. Just by clicking there you can browse the different teams, their consumption and their prices when they were registered in the NiceHash system
The type of currency you want to see in terms of earnings. You have USD / BTC / EUR and an endless other Fiat coins
Box where you can place the electricity consumption. It is given in watts per hour in terms of the currency you select in the previous box, in this case USD. This data you can find out by doing a google search with something like "power consumption for XXXXXXX" (XXXXX would be your country). Once you have that data you convert it to the currency of your choice and you will know how much is consumed
The calculate button, which you must press once you indicate the characteristics of the mining equipment
A link to check some frequently asked questions if you do not find the miner on the list. It is probably not as profitable or even no one has connected to the platform (I will explain later how NiceHash handles that real data)
Put the values to your liking. For example if the price of a computer changes there you can modify it to make the study in a more real and correct. That's what we'll do next to see how much the little monster of Bitmain
Have a blackboard with the most profitable teams, you can look and browse. Take advantage to highlight that our little friend Antminer L3 is right there:
As you can see, it has a very good profitability. Approximately 0.0191 Bitcoin per day. The equivalent of 51.72 $ (for the date of Fri 23 Jun 2017). Now I show you how to do more custom calculations: - In a new tab of the browser we look for the equipment to have the current price:
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Note: I have highlighted the address in the address bar so that you are always aware of that detail. Today there are unscrupulous people who create imitation websites and steal your money. Always investigate and note that websites have the famous lock. That lock means secure website using SSL security certificates. This is a basic rule for any website that manages money. - We already have the price = 2004.49 $
- This equipment needs a high power power source. They make it themselves and it's called APW3 + and it has a price value = 105 $. You must add the shipment from China. I will calculate it to a maximum of 150 $
- Total + source + shipping = 2004.49 + 105 + 150 = 2259.49 $
- Now on the NiceHash Profit Calculator we will select the hardware to be checked. In this case the Antminer L3 +
- Then we click on "Calculate for custom settings", in Spanish "Calculate for custom configurations" and we should see:
- Here we will execute the famous technique of Ricky Martin ... The secret 1 2 3
We put the consumption of the equipment. We will leave the actual consumption for this equipment of 800 W. Then we adjust the price to the actual and actual price of 2259.49 $ (remember that includes source + shipping)
The cost of electricity, we will place it to 0 for this example (assuming that you live in a country with very but very cheap electricity)
Press Calculate - If you are more visual because the ducks tell you: (without animosity to offend Ricky..jeje)
- And in placing this data and having made the step of Mary, we will have:
The page of NiceHash is very clever and we feel the conscience to give us the results, says explicitly:
Your hardware is profitable! A return on investment with current profitability is 51 days. You could be making $ 1,340.99 per month with NiceHash
As you see the uncles bring them in their marketing tactics. The truth is that the equipment is very profitable. If you have not understood that it is the ROI, acronym of Return of Investment or the same in Spanish for Return of Investment, it means the time in which the equipment pays to itself.
This example shows that mining can be very profitable if you know how to do it. I place myself at your command for projects and studies large or small.
Note: If you want to know how to run a project on a large scale anywhere in the world, do not hesitate to contact me at work@saturnomangieri.com
Final Notes: Now you know how to conduct a study for mining. You can do this with any computer, with video cards and much more. So you can know how profitable a team is. For more advanced users I offer the option of another very good page called https://whattomine.com
NiceHash can handle these values because they maintain a platform for buying and selling mining power. Thousands of users put their equipment to mine on their platform and the "other side" others use them to configure and mine what they want. As a result the page pays you the rents per day at bitcoins. It is very good when you do not want to mine any other currency and then have to convert it to bitcoin. For more information visit: NiceHash
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