Reward-Drop ETA date: 20 Jun 2020 23:34:38 The Bitcoin block mining reward halves every 210,000 blocks, the coin reward will decrease from 12 to 6 coins.Total Bitcoins in circulation:16,408,500 Total Bitcoins to ever be produced:21,000,000 Percentage of total Bitcoins mined:78.14% Total Bitcoins left to mine:4,591,500 Total Bitcoins left to mine until next blockhalf:1,887,840 Bitcoin price (USD):$2,669.30 Market capitalization (USD):$43,799,209,050.00 Bitcoins generated per day:1,728 Bitcoin inflation rate per annum:3.92% Bitcoin inflation rate per annum at next block halving event:1.73% Bitcoin inflation per day (USD):$4,612,550 Bitcoin inflation until next blockhalf event based on current price (USD):$5,039,211,312 Total blocks:472,680 Blocks until mining reward is halved:157,320 Approximate block generation time:10.00 minutes Approximate blocks generated per day:144 Difficulty:711,697,198,174 Hash rate:4.93 Exahashes/s Litecoin Block Halving Countdown

Guys PLEASE READ THIS before investing your MONEY at GENESIS MINING (self.Bitcoin)submitted by Guys PLEASE READ THIS before investing your MONEY at GENESIS MINING This is simple MATH!!10 years old child can understand this!In this experiment, I will pay 105 $(0.105974 BTC) for 700 GH/s /a/CRNdl ): a.0.150 $ per GH/s upfront = 0.000150313 BTC * 700 GH/s = 0.1052191 BTC upfront fee b.0.00028 $ per GH/s a day = 0.000000280824 BTC * 700 GH/s = 0.0001965768 BTC A DAY fee (0.071750532 BTC a year) Now to calculate the profit is very simple, BTC mined in a year minus you cost/investment and the sum of fees.700GH/s will generate ≈ 0.1554 BTC a year.BTC Profit first year= 0.1554 earning - (0.1052191 + 0.071750532) fees - 0.105974 cost = - 0.127543632 BTC (-127.79 $) ROI of negative -27% You invested 100 $ in GENESIS MINING after a year you LOST 100 $ and you OWE them 27 $.Their system is designed to keep you buying more Hash Power in the hope of making a ROI in a distant future.

More Hash power= more daily fees = less profitable Bitcoin earnings.In the second year, you wont pay the Upfront fee, but if the daily fee stay the same, you wont make any profit form the Bitcoin mined, because of the difficulty increase over time, in the end your daily fees will overcome the Bitcoin mined, the following will happen, and your account will be terminated in 20 days." if, on any day, Coins generated on one day do not suffice to pay item 2 of the Fee above, the Service Provider may use Coins generated on any day thereafter for such payment."I wont consider this a SCAM because it's written in the Agreement, If you have already invested please stop the bleeding and use you money for better good.The conversion rate (1 BTC = 990.811 $) and BTC mining rewards (12.5 BTC) are calculated on 2/13/2017 *edits: I improved the formating, The second year paragraph added, ROI of negative -27% π Rendered by PID 12865 on app-404 at 2017-06-24 11:31:55.053471+00:00 running 3522178 country code: SG.

Explore Live Demo Take a look at our Demo Account and investigate all the settings and live data in action.Did you like it?You can instantly sign-up for your own account.New AI Many improvements and features are coming ahead.Bitcoin Mining Pool Tradition & Trust First Bitcoin mining pool in the world Operating since December 2010 Over 1,000,000 BTC mined since December 2010 Long history of stable and accurate payouts Active New features have been added.bitcoin-qt windows 7See Release Notes for more information.xbox bitcoin minerDevelopment proposals driven by your hash rate Submit your own idea about how the pool should change and let everybody to vote Reward System Our unique reward system provides stable and transparent rewards for loyal miners.bitcoin fog not working

Availability Our servers are distributed around the world.The intelligent load balancing and fail-over system ensures you are up and running 99.9% of the time.Security The entire infrastructure runs on highly secured servers.Your wallet address can be secured with two-factor-authentication (2FA).Support Our support team is here for you 24/7.We are working hard to give you a helpful answer in any situation.Facebook news Jun 22, 2017 : We share transaction fees with you, #Bitcoin #miners, thereby making your mining operation more profitable: (up to 20%) Join Us!bitpay bitcoin addressJun 02, 2017 : We mined the very first #BIP148 block #469345 today.faucet bitcoin gratisIf you wish to see them more, just vote: http://bit.ly/2swwJQn Apr 20, 2017 : Hi miners, we are launching Zcash mining with 0% pool fee today.litecoin every minute

Did you know it is still possible to mine it with your GPU?Jo... Apr 10, 2017 : Today, we are happy to release the first official version of our mobile monitoring apps.Check them out ;) https://blog.slushpo... Mar 30, 2017 : #miners, let's enjoy the massive rain of new #Bitcoin #blocks together with @slush_pool today!Following my article days ago, I received a number of follow-up questions on bitcoin mining, such as: What is mining?bitcoin iso linuxHow do I mine?bitcoin hardware kaufenWhy mine in the first place?bitcoin bancontactThis article looks at these and other related questions.Its purpose is to shed light on what bitcoin mining is all about.Recall that in my last article, I explained that Bitcoin is a virtual currency created and held electronically, meaning that no physical coins exists.

Instead, transactions take place peer-to-peer and are written directly on a distributed ledger called the blockchain, once they are deemed to be valid.No central authority controls or issues it.bitcoins, unlike fiat currencies, are therefore not printed by governments and central banks.Instead, they are produced by people and businesses running computers on the bitcoin network all around the world, using software that solves mathematical problems, in accordance with the Bitcoin protocol.This is where the mining comes in.The best way to create a context is to go back to Satoshi Nakamoto’s white paper which introduced bitcoin.In it, Satoshi wrote; “By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block.This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them.The steady addition of a constant amount of new coins is analogous to gold miners expending resources to add gold to circulation.

In our case, it is CPU time and electricity that is expended.” Since bitcoins are not printed, the only way they are created and added into circulation is through mining them.They are given as a reward to nodes on the Bitcoin network for using their computer resources to validate transactions before they are added onto the blockchain.Nakamoto carefully introduces the analogy of gold mining.You can understand this in the context that people who worked on this innovation then were very concerned about the effect of continuous printing of money by authorities (quantitative easing) on the value of fiat currencies.At that time, a number of people believed that gold was a better store of value.When gold was a currency many years ago, the only way you could “print” more gold into the monetary system was to go and dig it off the ground.You had to invest in mining the gold.You had to work, and getting the gold out of the earth was some sort of proof that you worked to get it out (proof-of-work).

Remember that the genius of Bitcoin is that it invented the blockchain, a distributed ledger that does not require a trusted third party.It is a shared public ledger on which the entire Bitcoin network relies and where confirmed transactions are recorded.Wallets, where bitcoin balances are kept for the user, calculate their spendable balance from the ledger.In addition, new transactions can be verified to be not only spendable, but actually owned by the spender.Also remember that Bitcoin is anchored on cryptography.All transactions on the network are grouped into a batch, called a block.Each block is timestamped and hashed.When a block is hashed, it is chained to previous blocks creating a chain of blocks added to the network.As I noted above, just like the way gold was introduced into the economy centuries ago, bitcoins have to be mined.You have to do some work to get them.However, you don’t use picks and shovels.You just lend your computing power to the bitcoin network.The computing power is required to secure transactions that are recorded on the block chain.

Technically, it works this way: the mining hardware runs a cryptographic hash function on the header of the block (block header).The function is two rounds of SHA-256.For each new hash attempt, the mining software applies a different number as the random element of the block header.In Bitcoin parlance, such a number is referred as a nonce.The hashing process creates a hash – a long series of alphanumeric characters.Each block must be discovered through hashing roughly every ten minutes.This is made possible through setting a difficulty target.The mining computer must find a hash below that target to create a valid block.So, assuming the difficulty target started with 10000………, then any number that starts with a zero would be useful and below the difficulty target.The mining difficulty is adjusted by the network every 2016 blocks.This adjustment is based on the time it took to find and validate the previous 2016 blocks.Given that a rate of one block must be found every 10 minutes, 2016 blocks would take two weeks to find.

In the event that the previous 2016 blocks took more than two weeks to find, the network reduces the mining difficulty, and vice-versa.The network’s difficulty target is self-adjusting to meet the desired validation of blocks every ten minutes.In short, the difficulty shows how much hard it is to generate a block compared to the genesis block.In a simple way, the mining process goes as follows: In essence, mining bitcoins is like a lottery where you connect your mining hardware to the Bitcoin network and compete with everyone else’s, to earn bitcoins.If your hardware has faster and more processing power, it attempts more tries per second to win this lottery.It follows that to mine bitcoins, the cost of doing so is electricity and a computer.Miners are rewarded therefore for lending their computing power to the network.Mining computes the proof-of-work necessary to validate each block before its added to the blockchain.Currently, miners get 12.5 bitcoins as reward for mining blocks, meaning that 12.5 bitcoins are created every ten minutes.

This hasn’t always been the case, however.Nakamoto set the block reward schedule when he created Bitcoin.It is one of Bitcoin’s central rules and cannot be changed without consensus on the whole Bitcoin network.This means it needs unanimous consensus to change.When Bitcoin started in 2009, block reward for mining started at 50 bitcoins.The block reward is designed to halve every 210,000 blocks, implying that every block up until the 210,000th block was rewarded with 50 bitcoins whereas the 210,001th block onwards got a reward of 25 Bitcoins, and so forth.Since blocks are mined on average every 10 minutes, 144 blocks are mined per day on average.At 144 blocks per day, 210,000 blocks take on average four years to mine.Recall that Bitcoin removes the necessity of trusted third parties such as banks.Bitcoin mining is a decentralized computation that serves two purposes, namely (i) issuing new bitcoins with each block validated and (ii) confirm transactions in a trustful manner by devoting enough computational power to validate transactions in a block.

If you are an enthusiast of Bitcoin, yes.This is because you will be providing computing power towards the validation of transactions on the network.But a response to this question requires that we briefly look at the history and evolution of bitcoin mining.When Bitcoin launched in 2009, there was very little interest in the project, especially outside the cryptography enthusiasts space.The early versions of the bitcoin system allowed anyone running the software to mine bitcoin on their computer’s CPU.Only a handful of people mined bitcoins, there was very little computing power on the network, hence, little mining competition.In the early days, most of the bitcoins were actually mined by Nakamoto who gave them away to other people to help test the bitcoin network.But as more and more people figured out the genius behind Bitcoin, they joined the network giving rise to an exponential growth in the computing power on the network.Since the mining happened on a simple computer CPU, it wasn’t long before a miner discovered that mining could be adapted to use a video card (graphics processing unit – GPU), other than a CPU, since it is designed to compute complex mathematical solutions.

This made it more efficient than a CPU.A video card however, also utilizes a lot of power.This led to an evolution creating very powerful computers more ideal for Bitcoin mining – largely driven by the desire for efficiency which balances electricity consumption and computing power for bitcoin rewards.GPUs were replaced by field programable gateway arrays (FPGAs), which were eventually outperformed in 2013 by new application specific integrated circuits (ASIC) miners.ASIC’s mining performance is superior, but chews a lot of power, and makes a lot of noise.It is this power consumption factor that plays a huge part in whether it’s worth engaging in mining bitcoins or not.Bitcoin mining is unprofitable in many countries where power is expensive.In many cases, electricity costs and the outlay for the hardware now make it unprofitable to mine at home, unlike in the past.In addition, as new more powerful miners are introduced in the market, the old miners become inefficient to keep running, which pushes you to write off your hardware and buy new machines.

There is a new trend however called cloud mining.This enables people to invest in a mining operation without buying or hosting the hardware.The owners of such cloud mining services allow you to mine and earn bitcoin while paying a periodic fee for warehousing and electricity.This way you do not need to buy a mining machine, neither do you consume power – you just pay for both remotely.However, you must be careful which cloud mining pool you join because some unscrupulous people, especially in the network marketing space are selling all sort of bitcoin mining schemes that border on Ponzi and pyramid arrangements.No doubt new innovations will come, as more powerful chips are made that are more efficient, so expect the landscape to keep changing.In fiat currency systems, governments simply print more money when they need to, sometimes ruining its value.The Zimbabwe dollar is a very good example.In bitcoin, however, money isn’t printed, but is discovered.Computers around the world compete with each other on the Bitcoin network to validate transaction blocks for a reward payable in bitcoins.