Bitcoin mining in 2018

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There are many factors and variables that need to be considered to conclude and answer if bitcoin mining is profitable. The short version of answer would be " its depends on how much can you or willing to invest for mining". Well there is a way to calculate mining profitability when considering different factors which is "Bitcoin Mining profitability calculator". I will explain everything in depth so its best we start from knowing a few basic technical terms from the world of Bitcoin mining:.

The higher their relative power, the more solutions and hence, block rewards a miner is likely to find. Bitcoin coins have a block time of 10 minutes, In simple words a new block is created on average every ten minutes.

This halving process will continue in this fashion, bitcoins will be halved until all 21 million bitcoins are created. This is due to the ever-changing nature of the Difficulty modifier and the BTC price, in particular. To begin, we must select a suitable ASIC mining rig.

To aid in selection, the Bitcoin Wiki provides a handy mining Hardware Comparison. As of today the most advance miner out there is Antminer S9. It's what is known as an ASIC mining rig. If we use the simple Bitcoin miner calculator.

But of course this doesn't take into account the hardware cost,electricity cost, pool fees, etc. Let's try to calculate. At this rate, the S9 unit would pay for itself within a year bitcoin mining in 2018 well as make Profit as well! There is bitcoin mining in 2018 catch ,this is on dangerous assumption! Apart from that there are plenty of other things which needs to be considered is they could go wrong, for example:.

So is Bitcoin Mining Profitable? Yes, Bitcoin mining in 2018 is but only if you invest huge amount of capital in a good mining rig otherwise not. Only those who possess or can afford high powered machinery can mine bitcoins with profitability. While mining is still technically possible for anyone, those with under powered setups will have more money spent on electricity than making money on bitcoins. In simple words you will have losses.

I will explain everything in depth so its best we start from knowing a few basic technical terms from the world of Bitcoin mining: In simple words Hash is the mathematical problem that needs to be solved which is done by computational power.

Hashrate solutions is the rate at which these problems are being solved. Each time a block is solved, a constant amount of Bitcoins are created and rewarded to miners. This number was initially set to 50, halved to 25 in late, and halved again to The next halving event expected is around mid Since Bitcoin gained a lot of attention and so many people came into mining,Bitcoin Network's Hash Rate increased exponentially, Bitcoin block time bitcoin mining in 2018 reduced from 10 minutes.

So difficulty of solving the mathematical problem has to increase in order to adjust the block time and network's Hash Rate increase that is bitcoin mining in 2018 reason why there are fluctuations in difficulty. Basically the more miners that join, the harder it gets to actually mine bitcoins.

Using bitcoin which can be ASIC or any electronic device requires electricity. Electricity is the major on-going cost of Bitcoin mining. Electricity rate can be found on your monthly electricity bill. Each miner Consumes a bitcoin mining in 2018 amount of energy. You will need to know your miner's exact power consumption before calculating profitability. The price paid per Watt will greatly influence profitability. You can bitcoin mining in 2018 this on interenet through some research.

A mining pool is a group of miners that mine bitcoin faster and more bitcoin mining in 2018. Mining in solo is not as profitable as mining in pool that is because mining in pool bitcoins are mined faster and you will receive your bitcoins per share depending on how much computation power you provide although there are different pools out there bitcoin mining in 2018 different shares.

Joining a mining pool has fees which is usually around 1. Profitability decline per year: This is probably the most important variable of all. Bitcoin mining in 2018 is no way of telling how many miners will joins the network for bitcoin bitcoin mining in 2018 so no one can -predict that how difficult it will be to mine in 30 days ,6 months or even 6 years. The future profitability of mining cannot be reliably predicted. To aid in selection, the Bitcoin Wiki provides a handy mining Hardware Comparison As of today the most advance miner out there is Antminer S9.

If we use the simple Bitcoin miner calculator But of course this doesn't take into account the hardware cost,electricity cost, pool fees, etc. Apart from that there are plenty of other things which needs to be considered is they could go wrong, for example: Authors get paid when people like you upvote their post.

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In early there are lots of new Bitcoin ASIC miners being announced, but many of these won't be available to mine with for a few months. We have a Crypto Coin Tracker that supports coin wallets, this can be used to track your mining profit in fiat USD and generate data needed for tax reporting. Using our ASIC Bitcoin miner calculator , we can give optimistic and skeptical estimates for profitability.

This guide is useful for an initial comparison, and the calculator can be used to get the most up-to-date data. The links to Amazon below are affiliates, so we'll get some money if you buy something using these. If the miner you want isn't available on Amazon, we wrote a guide suggesting some alternatives here.

This site cannot substitute for professional investment or financial advice, or independent factual verification. This guide is provided for general informational purposes only. The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose - you should be prepared to sustain a total loss of all invested money.

This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it. We don't endorse any affiliate services we use - and will not be liable for any damage, expense or other loss you may suffer from using any of these. Don't rush into anything, do your own research. As we write new content, we will update this disclaimer to encompass it. We first discovered Bitcoin in late , and wanted to get everyone around us involved. But no one seemed to know what it was!

We made this website to try and fix this, to get everyone up-to-speed! Click here for more information on these. All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice.

Best Bitcoin Mining Hardware April Feb 1st, Updated Apr 17th, Mining In early there are lots of new Bitcoin ASIC miners being announced, but many of these won't be available to mine with for a few months. Assumptions this is just if you're interested, not required reading: Block reward of Countries like China are cheaper, so you'd get a higher return. The largest mining pool AntPool charges 2.

May 9th, What is the Antminer Z9 Mini? Written by the Anything Crypto team We first discovered Bitcoin in late , and wanted to get everyone around us involved. Never invest money you can't afford to lose.

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