Discussion about Primecoin and its infra. Primecoin is a very innovative cryptocurrency, being the 1st non Hash-Cash PoW crypto, naturally scarce (not artificially), with very fast confirmations (1min), elastic readjusting reward & a useful mining (byproducts are primes). Primecoin is sustainable (miners are guaranteed to have revenues), and decentralized (ASIC/FPGA are not particularly advantaged). Sidechain for decentralized data applications (e.g. Storj) currently in development.
This might seem like a fairly abstract question and might not be answerable, but I'm trying to calculate the rough odds of getting a single block hash correct per attempt. This is for the purpose of explanation/analogy rather than something I need to calculate. I notice there's a "Bitcoin difficulty" which is currently at 860 billion-ish. Is it reasonable to interpret this as a 1/860,000,000,000 chance of a correct hash, or does it not mean that? Given the network's current hash rate of approx 5,000,000 TH/s that number would seem absurdly low. I assume it's some sort of scaling factor. Given a correct answer occurs (by design) every 10 minutes that equates to roughly 3e+21 hashes before a correct hash is registered. I have no idea what that is in human numbers but more than 860 billion is a given. Is it right (probability-wise) to put the odds of a single hash attempt at 1/3e+21 or does it not work that way? Can anyone help me out with the ballpark math here?
I figured that i can get estimated ROI for 700$ on genesis cloud mining, in about 1 year or so mining bitcoin, hash calculator says its gonna take 6 months but i really doubt. Even if i take in count the fees for bitcoin, it still looks too easy, am i missing something? Or does this ROI rate actually makes sense?
How do People Calculate the Total Hash Power of Bitcoin
I see this number everywhere but I have no idea how anyone could know that. How does it work?!? Edit: How can you see that until they succeed? You don't see all the failed hashes, right? And how do you know who to watch? 🤔
[uncensored-r/Bitcoin] How to calculate hashing power
The following post by temevh is being replicated because the post has been silently greylisted. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7b432t The original post's content was as follows:
VnBitcoin is a reference website where you get Bitcoin News, Bitcoin charts, Bitcoin-related websites information, major mining software information and Bitcoin and Litecoin mining calculator. When you click on Bitcoin calculator menu on the header of this website, you will be redirected to a simple mining calculator where you have to put your ... Bitcoin mining calculator Summary. Enter the hash rate of your Bitcoin mining hardware (mandatory). Enter additional optional information, such as pool fees, electricity costs, etc. The more information you enter, the more accurate the result will be. The Bitcoin hashrate is number of possible solutions (hashes) being generated per second. As of January 2020, the Bitcoin hashrate peaked at 131 EH/s. Bitcoin mining also generates new Bitcoin. When a Bitcoin miner finds the correct hash to solve the next Bitcoin block, the miner is rewarded with Bitcoin. Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Our calculator assumes the 0.4527678% daily increase in network hash rate that has been the average daily increase over the past 6 months. Without factoring in this growth, most Bitcoin mining calculators show results that appear MUCH, MUCH more profitable than reality.
If you're looking into starting cryptocurrency mining, you want to make sure that you're making a good profit on your main computer or GPU (graphics card)/CP... Bitcoin Hash Calculator use to calculate the profitability of Bitcoin and the tool to find good return bitcoin miners to buy. You can easily calculate how many Bitcoins mines with your hash rates ... bitcoin calculator, bitcoin converter, bitcoin cost, bitcoin exchange rate, bitcoin price, bitcoin rate, bitcoin value, bitcoin worth ... Each block contains a cryptographic hash of the previous ... April 2020 Update - https://youtu.be/ymdQaRXXmBg January 2020 Update on my Crypto Mining Farm at my Apartment. I'll be going over my mining rigs, my cpu rig,... Bitcoins are mined using a cryptographic algorithm called SHA-256. This algorithm is simple enough to be done with pencil and paper, as I show in this video....