CryptoCompare needs javascript enabled in order to work. Follow these instructions to activate and enable JavaScript in Chrome. PC • To the right of the address bar, click the icon with 3 stacked horizontal lines. • From the drop-down menu, select Settings. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. MAC • Select Chrome from the Apple/System bar at the top of the screen. • Select Preferences. From the drop-down menu. • In the left-hand column, select Settings from the list. • At the bottom of the page, click the Show advanced settings link. • Under the Privacy section, click the Content settings button. • Under the JavaScript heading, select the Allow all sites to run JavaScript radio button. • Finally, refresh your browser. You can also change the exchange rates BTC/USD, LTC/USD, ETH/USD, and DASH/USD if you wish. Also the return of investment (ROI. Current hashrate (TH/s. May 22, 2017 - How to use Bitcoin Mining Calculator. Set the value of 1 Bitcoin with the slider (4000$ on 5th October 2017); Enter the hash rate which you plan to buy; Now you can see the NET Bitcoins and US Dollars payouts - this amount will be sent to your Bitcoin wallet. Please Select Your Genesis SHA-256. Working on this project, I've learned a TON about forecasting profitability with Hashflare, and I want this sub to have access to what I've learned before people are led astray by bad advice and inaccurate calculators that don't appropriately handle difficulty, fees, etc. My favorite thing about this calculator - the reason I built it in the first place - was to be able to model different future BTC price scenarios, such as a price surge followed by a crash. The biggest thing I've learned is how comically inaccurate the Hashflare 'Revenue Forecast' is, as with their calculator of choice on coinwarz.com. First, be warned: This sheet is slow running in the cloud. I don't have Excel, but downloading as an.xlsx and running it in LibreOffice, some parts don't work. It's fast, but doesn't work. So, to use this sheet you'll need some patience, and you'll need to copy it to your own Google Drive. I've been seeing times like 15-20 seconds between input and update if you're changing a variable that affects everything, like early BTC price speculations or difficulty increase rate. Next, if you want to use this, read the directions. They're on the 'Welcome' tab. I'll tell you how to copy this sheet and what the different variables are about. It will give you an idea what all is being taken into account. A few major points of inaccuracy present in other calculators have been taken into account and fairly rigorously back-tested, although I would still call this a 'beta' tool: • The difficulty grows exponentially based on user input, with accurate guidance about what is realistic. • Fees are accurately modeled at a flat $0.35/day/TH/s, as it says in your contract (not as a 'pool fee' or other proportional fee). • Hashflare's 'Terms' section 5.5 is taken into account - this is the one where your contract gets cancelled after 21 days if the difficulty rises or the price drops such that your mininig becomes unprofitable. (What, you didn't read the fine print?) I'm still working on this tool, and would still like to add a column next to the projected BTC prices that shows you if Hashflare would cancel your contract during that quarter due to low profitability. But for now, it has really opened my eyes to the inaccuracies of other calculators, and at this point, this is the only one I can trust. My biggest takeaway: The Hashflare revenue forecast would show you about $7200 profit over 1 year if you invested $1000 today and BTC price held steady. This calculator will show you why, even if the price holds steady, you will only make about $1950 (or around $2950 gross income) when using accurate figures for fees and difficulty growth. That's very different from their 'Revenue Forecast', and people need to understand that. My second biggest takeaway: Yes, like people are saying, reinvestment is very good. But only for a few more months unless the BTC price continues to grow extremely fast, and if it falls, you'll be kicking yourself in early-mid 2019. Even if it stagnates without falling, further reinvestment will be no longer profitable in a few months. Play with some scenarios in the calculator and prove it for yourself. I'm not here to tell you Hashflare is not a good investment - I have bought mining contracts with them, despite knowing what I know now. But there are some absolutely wild claims being thrown around out there, and don't trust anything you hear unless you run the math yourself. I mean, in your contract, they reserve the right to have a nice candle-lit dinner with your mom. Or at least to change anything and everything. But I think they'd be very unlikely to change their fees, since users would be in uproar, and they make the $0.35/day/TH/s very clear in their documentation. Keep in mind a few things about Hashflare's situation: They're owned by a company (Hashcoins) that actually designs/manufactures ASIC mining hardware, so they're presumably getting better at that all the time. However, long-term, they could see power price increases. The mining is located in Estonia, as I'm sure you know, and something like 95% of their electricity comes from shale oil power plants (fun fact: the largest ones in the world, and Estonia's largest power company is doing research at a location in Utah on shale oil power generation, as well; it's theoretically better than fracking or processing tar and oil sands). Their country is trying to get to 14% renewable production within a few years, but regardless, shale and electricity price fluctuations could have a significant impact on Hashflare, and I assume they've taken that into consideration when they set their MEF rates. • • • • • • •. Hahahaa it's funny you say that. Because I made a calculator for that, too! Spoiler: solar power does not help mining operations pay off, sadly. If you already have solar, it might save ~10% of your gross proceeds, but that's about it under static BTC price conditions. (Actually that calculation was for mining Ethereum on GPUs, but either way.) Edit: I got into mining because I thought it would be a great way to use the solar power I'm generating for my office. But it makes almost no difference, especially right now in the winter. Having said that, national-level renewable energy projects that are publicly financed would help mining proceeds, but it's kind of creepy that the people of the country in question will (metaphorically) have their wages garnished for the next 20 years (paying off debt) so we can mine BTC with higher profitability next year. • • • • • • •. I'm not saying it's a silver bullet, but so far my best break down is something like this: • Reinvest early, and taper off reinvestment • Immediately stop reinvesting if you start to lose faith in BTC's growth rate • Extract a balance of dollars and bitcoins so that you can make back the initial investment over the first couple quarters while still holding some BTC in case of price increase Again, not a magic bullet, but across a lot of different scenarios of future BTC values, some version of this strategy tends to be the most reliable. But don't take my word for it - try some permutations and see what you think. • • • • • • •.
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