How much can a Bitcoin Miner earn every day?
Many people are asking me, how much can a Bitcoin miner earn every day?
This article is to tear this question apart for you._DJminer
Bitcoin system itself is made up of data blocks one by one. Each data block contains two parts: block head and block. Among them, block head records block ordinal number, hash value, time stamp, random number of mining, mining difficulty information of the previous block and this block; block, pure record transfer and transaction information.
Each data block is linked by block header information and its adjacent blocks, which is called "block chain". The figure is shown below.
Each transaction has about 500 bytes of information, and a bitcoin block is set to 1M to record about 2,000 transactions - compared with 80 bytes in size.
Bitcoin miners are miners who pack information about 2,000 transactions into a data block and add it to the Bitcoin system. The first miner who successfully adds the block (which will be broadcast to the whole system via P2P) will be rewarded with a block.
At the beginning of the birth of Bitcoin, the block reward was set to 50 bitcoins/blocks. When the number of blocks reached an integer multiple of 210,000, the block reward was halved. At present, the block reward for Bitcoin miners is 12.5 bitcoins, and next year it will become 6.25 bitcoins. In this way, when the smallest unit of Bitcoin "Cong" can't be produced (1 BTC = 100 million Cong), the block reward will stop --- estimated to occur in 2140 (after 32 halves).
You should have heard that the Bitcoin bonus is halved every four years - because it takes 3.995, or almost four years, to dig out 210,000 blocks, based on a block every 10 minutes.
What needs to be clarified is that the reward for miners who produce blocks also includes two parts: at present, 12.5 bitcoins are rewards for blocks, which are called "system rewards"; in addition, there are billing fees, also known as "miners'fees". At present, the cost for miners in each block is about 0.1 bitcoins, so every block miners excavate, The actual revenue is about 12.6 bitcoins.
Bitcoin system is set to dig out a data block every 10 minutes or so and add it to the chain. It calculates that 144 new blocks can be produced every day (24 hours, 1440 minutes). The total number of bitcoins that can be digged out every day is 1800 (144*12.5), plus miners'accounting fee of 0.1 bitcoins per block. At the current stage, all of them can be digged out. Miners were rewarded with 1814.4 bitcoins a day.
Does that make it easy to understand Bitcoin mining?
The problem with mining is that there are many miners who pack up some trading information at a certain stage. Which miner do they really recognize? To solve this problem, the Bitcoin system has given a puzzle. Whoever first solves the puzzle knows which miner.
The so-called problem-solving process is hash operation, which is a professional cryptographic problem. It is not explained in detail here. You only need to know that the ability of hash operation to solve problems is related to how many operations a computer can do per unit time.
Because the process of hashing is to try to provide more puzzles to hit the big luck, just like looking for gold in vast amounts of sand, the accounting process of Bitcoin is called "mining".
How many hash operations can a miner do per second, which is the most important measure of Bitcoin mining - arithmetic, usually recorded as Hash/s, abbreviated as H/s, the following arithmetic unit is the geometric order of magnitude of H/s.
1 KH/s = 1000 H/s
1 MH/s = 1000 KH/s
1 GH/s = 1000 MH/s
1 TH/s = 1000 GH/s
1 PH/s = 1000 TH/s
1 EH/s = 1000 PH/s
From 1H/s to 1EH/s, the distance is 10 to the eighteenth power, and a common computer we use everyday, its calculating power is about 1KH/s.
It is the power of the Bitcoin network that generates 1,800 new Bitcoins a day, which is directly related to the benefits of mining.
From the birth of Bitcoin to now, from the CPU mining of ordinary computers, to the GPU mining of graphics cards, to the FGPA mining, to the ASIC mining, the Bitcoin mining machine has undergone four rounds of iteration, and the digging power of Bitcoin has also been from small to large, which promotes the development of the Bitcoin system. Perfect.
As you can imagine, if the puzzles are all the same, the output of Bitcoin blocks will surely be faster and faster as the market power increases. In order to ensure that the time for bitcoin to come out is about 10 minutes, after every 2016 bitcoin blocks are dug out, the difficulty of the puzzle will be adjusted according to the calculation of the whole network of bitcoin in the previous stage. One block will be created in 10 minutes, and 2016 blocks will be about two weeks.
If the mining calculation of the system increases in one cycle, the difficulty coefficient will rise.
If the digging calculation of the system in one cycle is reduced, the difficulty coefficient will decrease...
Of course, the more difficult it is, the less bitcoin revenue it will get from mining with the same computational power.
—— Aha, finally talking about making money.
To make money, we should consider not only the income but also the investment, which includes the cost of mining machines, the computing power of mining machines, power consumption, electricity and operating costs, etc.
Take a chestnut to illustrate:
Assuming that you get a mining machine with 16TH/s power consumption of 1280w at 0 cost, the electricity cost is 0.4_per degree, and the current network computing power of Bitcoin is about 66EH/s, the price of Bitcoin is calculated according to the current 70,000/piece. How much money can you make a day if the machine digs for 24 hours without rest?
The daily profits from mining are calculated as follows:
1814.4 (Bitcoin output per day) * 70,000 (currency price) * 16/66,000,000 (the ratio of your computing power to that of the whole network).
This figure is about RMB 30.8 yuan, which is the income of mining every day. If you exclude the cost of electricity: 24 * 1.28 * 0.4 = 12.3 yuan, the net income per day is about 18.5 yuan._DJminer
The example just cited is the calculating power and power consumption demarcated by S9SE-16T miner, the most popular miner at present. The actual market price of this miner is about 4,000 yuan at present. Assuming that the currency price remains unchanged, the electricity cost remains unchanged, and the computing power of Bitcoin network remains unchanged, one S9SE-16T miner is purchased without considering other operations. It takes 216 days to get the cost back.
If you want to know the current daily profit of the miners with different computing power and power consumption and the possible return cycle, you can click on the "Read the original" at the bottom left corner at the end of this article to calculate.
Of course, the price of miners is changing at any time, and the price of Bitcoin is volatile, so the daily earnings of Bitcoin miners are very uncertain.
Anyway, as long as the currency price remains unchanged, will the purchase of miners now make a steady profit?
Of course not!
—— Because the current mining revenue is good, in the case of Bitcoin's high computing power, more and more computing power is joining the mining force, and the whole network computing power is still growing rapidly (see figure above). If the computing power increases to a certain amount, it will lead to a significant increase in the difficulty factor, and the daily mining revenue will be large. It has been greatly reduced or even insufficient to pay for electricity costs.
At the end of 2018, because the price of Bitcoin dropped by 80% compared with the high point, and the computing power of the whole network was at a high level, the miners who bought the mining machines at a high price at that time appeared that the mining revenue could not meet the electricity charges, which led to the news that the mining machines were sold by the catty.
I estimate that the overwhelming majority of ordinary people are more concerned about another issue.——
Can I dig up Bitcoin with an ordinary computer?
The answer is: basically impossible.
At the beginning of Bitcoin's development, there was very little calculating power involved in mining, and ordinary computer CPU could still dig Bitcoin. But after 2011, personal computer mining could not withstand electricity and machine wastage. It began to be popular to dig with video card. But with the continuous increase of network computing power, video card mining has no meaning. ASIC (Application Specific Integrated Circuit) mining is widely used, and other mining methods can not cover the cost.
As mentioned before, the computing power of ordinary computers is about 1000 H/s, with an average of 1000 hash operations per second. At present, Bitcoin has 66EH/s computing power on the whole network. The computing power of one ordinary computer is equivalent to one-sixth of the total computing power of Bitcoin system. Bitcoin blocks produce 5256,000 bitcoins a year. You dig a mine with an ordinary computer. In 2008, the probability of producing a bitcoin block is less than one trillionth, which is about the same as the probability of two consecutive Grand Lottery awards.
It hasn't calculated your electricity bill and computer wastage yet...
However, after looking at the example I wrote earlier about how to make money from mining and return to the original book in less than a year, some people want to be heartened, saying that if I buy an ASIC miner, how about digging in my own home? Whatever it is, speaking to people, it is also a model of "mining at home".
I advise you not to think so.
Not to mention the noise pollution and huge power consumption, but the block reward. As we said before, only 12.5 bitcoins are awarded for digging out the block. No miner's wool can be digged out. A miner with 16TH/s calculating power is less than 1/4 million of the total calculating power, which means that you can dig out the block in a day. The probability is less than 14 million, very close to zero.
That is to say, if you really buy a 16T miner to dig at home, let alone earn 18.5 yuan a day, you have a 99.9999% probability of getting into the electricity bill and the loss of the miner every day and getting nothing. This is the reason why the "minefield" prevails in the Bitcoin mining circle - the so-called "minefield" is a concentration of many miners. Force platform, so that the probability of digging blocks will be greatly increased, and then, according to the agreed rules, the reward of digging blocks will be allocated to the miners.
Of course, some people are "perseverance". They are not afraid of trouble or waste of money. If they want to try the probability of 1/4 million, I must strongly encourage them. After all, this is a rare miner that does not dedicate itself to others, but operates independently. That is to say, it is doing for the de-centralized system of Bitcoin. Contribution!
What's more, it's not easy to live for 4 million days. From the appearance of words to the present, the history of human civilization totals 2 million days._DJminer
This article is to tear this question apart for you._DJminer
Bitcoin system itself is made up of data blocks one by one. Each data block contains two parts: block head and block. Among them, block head records block ordinal number, hash value, time stamp, random number of mining, mining difficulty information of the previous block and this block; block, pure record transfer and transaction information.
Each data block is linked by block header information and its adjacent blocks, which is called "block chain". The figure is shown below.
Each transaction has about 500 bytes of information, and a bitcoin block is set to 1M to record about 2,000 transactions - compared with 80 bytes in size.
Bitcoin miners are miners who pack information about 2,000 transactions into a data block and add it to the Bitcoin system. The first miner who successfully adds the block (which will be broadcast to the whole system via P2P) will be rewarded with a block.
At the beginning of the birth of Bitcoin, the block reward was set to 50 bitcoins/blocks. When the number of blocks reached an integer multiple of 210,000, the block reward was halved. At present, the block reward for Bitcoin miners is 12.5 bitcoins, and next year it will become 6.25 bitcoins. In this way, when the smallest unit of Bitcoin "Cong" can't be produced (1 BTC = 100 million Cong), the block reward will stop --- estimated to occur in 2140 (after 32 halves).
You should have heard that the Bitcoin bonus is halved every four years - because it takes 3.995, or almost four years, to dig out 210,000 blocks, based on a block every 10 minutes.
What needs to be clarified is that the reward for miners who produce blocks also includes two parts: at present, 12.5 bitcoins are rewards for blocks, which are called "system rewards"; in addition, there are billing fees, also known as "miners'fees". At present, the cost for miners in each block is about 0.1 bitcoins, so every block miners excavate, The actual revenue is about 12.6 bitcoins.
Bitcoin system is set to dig out a data block every 10 minutes or so and add it to the chain. It calculates that 144 new blocks can be produced every day (24 hours, 1440 minutes). The total number of bitcoins that can be digged out every day is 1800 (144*12.5), plus miners'accounting fee of 0.1 bitcoins per block. At the current stage, all of them can be digged out. Miners were rewarded with 1814.4 bitcoins a day.
Does that make it easy to understand Bitcoin mining?
The problem with mining is that there are many miners who pack up some trading information at a certain stage. Which miner do they really recognize? To solve this problem, the Bitcoin system has given a puzzle. Whoever first solves the puzzle knows which miner.
The so-called problem-solving process is hash operation, which is a professional cryptographic problem. It is not explained in detail here. You only need to know that the ability of hash operation to solve problems is related to how many operations a computer can do per unit time.
Because the process of hashing is to try to provide more puzzles to hit the big luck, just like looking for gold in vast amounts of sand, the accounting process of Bitcoin is called "mining".
How many hash operations can a miner do per second, which is the most important measure of Bitcoin mining - arithmetic, usually recorded as Hash/s, abbreviated as H/s, the following arithmetic unit is the geometric order of magnitude of H/s.
1 KH/s = 1000 H/s
1 MH/s = 1000 KH/s
1 GH/s = 1000 MH/s
1 TH/s = 1000 GH/s
1 PH/s = 1000 TH/s
1 EH/s = 1000 PH/s
From 1H/s to 1EH/s, the distance is 10 to the eighteenth power, and a common computer we use everyday, its calculating power is about 1KH/s.
It is the power of the Bitcoin network that generates 1,800 new Bitcoins a day, which is directly related to the benefits of mining.
From the birth of Bitcoin to now, from the CPU mining of ordinary computers, to the GPU mining of graphics cards, to the FGPA mining, to the ASIC mining, the Bitcoin mining machine has undergone four rounds of iteration, and the digging power of Bitcoin has also been from small to large, which promotes the development of the Bitcoin system. Perfect.
As you can imagine, if the puzzles are all the same, the output of Bitcoin blocks will surely be faster and faster as the market power increases. In order to ensure that the time for bitcoin to come out is about 10 minutes, after every 2016 bitcoin blocks are dug out, the difficulty of the puzzle will be adjusted according to the calculation of the whole network of bitcoin in the previous stage. One block will be created in 10 minutes, and 2016 blocks will be about two weeks.
If the mining calculation of the system increases in one cycle, the difficulty coefficient will rise.
If the digging calculation of the system in one cycle is reduced, the difficulty coefficient will decrease...
Of course, the more difficult it is, the less bitcoin revenue it will get from mining with the same computational power.
—— Aha, finally talking about making money.
To make money, we should consider not only the income but also the investment, which includes the cost of mining machines, the computing power of mining machines, power consumption, electricity and operating costs, etc.
Take a chestnut to illustrate:
Assuming that you get a mining machine with 16TH/s power consumption of 1280w at 0 cost, the electricity cost is 0.4_per degree, and the current network computing power of Bitcoin is about 66EH/s, the price of Bitcoin is calculated according to the current 70,000/piece. How much money can you make a day if the machine digs for 24 hours without rest?
The daily profits from mining are calculated as follows:
1814.4 (Bitcoin output per day) * 70,000 (currency price) * 16/66,000,000 (the ratio of your computing power to that of the whole network).
This figure is about RMB 30.8 yuan, which is the income of mining every day. If you exclude the cost of electricity: 24 * 1.28 * 0.4 = 12.3 yuan, the net income per day is about 18.5 yuan._DJminer
The example just cited is the calculating power and power consumption demarcated by S9SE-16T miner, the most popular miner at present. The actual market price of this miner is about 4,000 yuan at present. Assuming that the currency price remains unchanged, the electricity cost remains unchanged, and the computing power of Bitcoin network remains unchanged, one S9SE-16T miner is purchased without considering other operations. It takes 216 days to get the cost back.
If you want to know the current daily profit of the miners with different computing power and power consumption and the possible return cycle, you can click on the "Read the original" at the bottom left corner at the end of this article to calculate.
Of course, the price of miners is changing at any time, and the price of Bitcoin is volatile, so the daily earnings of Bitcoin miners are very uncertain.
Anyway, as long as the currency price remains unchanged, will the purchase of miners now make a steady profit?
Of course not!
—— Because the current mining revenue is good, in the case of Bitcoin's high computing power, more and more computing power is joining the mining force, and the whole network computing power is still growing rapidly (see figure above). If the computing power increases to a certain amount, it will lead to a significant increase in the difficulty factor, and the daily mining revenue will be large. It has been greatly reduced or even insufficient to pay for electricity costs.
At the end of 2018, because the price of Bitcoin dropped by 80% compared with the high point, and the computing power of the whole network was at a high level, the miners who bought the mining machines at a high price at that time appeared that the mining revenue could not meet the electricity charges, which led to the news that the mining machines were sold by the catty.
I estimate that the overwhelming majority of ordinary people are more concerned about another issue.——
Can I dig up Bitcoin with an ordinary computer?
The answer is: basically impossible.
At the beginning of Bitcoin's development, there was very little calculating power involved in mining, and ordinary computer CPU could still dig Bitcoin. But after 2011, personal computer mining could not withstand electricity and machine wastage. It began to be popular to dig with video card. But with the continuous increase of network computing power, video card mining has no meaning. ASIC (Application Specific Integrated Circuit) mining is widely used, and other mining methods can not cover the cost.
As mentioned before, the computing power of ordinary computers is about 1000 H/s, with an average of 1000 hash operations per second. At present, Bitcoin has 66EH/s computing power on the whole network. The computing power of one ordinary computer is equivalent to one-sixth of the total computing power of Bitcoin system. Bitcoin blocks produce 5256,000 bitcoins a year. You dig a mine with an ordinary computer. In 2008, the probability of producing a bitcoin block is less than one trillionth, which is about the same as the probability of two consecutive Grand Lottery awards.
It hasn't calculated your electricity bill and computer wastage yet...
However, after looking at the example I wrote earlier about how to make money from mining and return to the original book in less than a year, some people want to be heartened, saying that if I buy an ASIC miner, how about digging in my own home? Whatever it is, speaking to people, it is also a model of "mining at home".
I advise you not to think so.
Not to mention the noise pollution and huge power consumption, but the block reward. As we said before, only 12.5 bitcoins are awarded for digging out the block. No miner's wool can be digged out. A miner with 16TH/s calculating power is less than 1/4 million of the total calculating power, which means that you can dig out the block in a day. The probability is less than 14 million, very close to zero.
That is to say, if you really buy a 16T miner to dig at home, let alone earn 18.5 yuan a day, you have a 99.9999% probability of getting into the electricity bill and the loss of the miner every day and getting nothing. This is the reason why the "minefield" prevails in the Bitcoin mining circle - the so-called "minefield" is a concentration of many miners. Force platform, so that the probability of digging blocks will be greatly increased, and then, according to the agreed rules, the reward of digging blocks will be allocated to the miners.
Of course, some people are "perseverance". They are not afraid of trouble or waste of money. If they want to try the probability of 1/4 million, I must strongly encourage them. After all, this is a rare miner that does not dedicate itself to others, but operates independently. That is to say, it is doing for the de-centralized system of Bitcoin. Contribution!
What's more, it's not easy to live for 4 million days. From the appearance of words to the present, the history of human civilization totals 2 million days._DJminer
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