Bitcoin Hashrate historical chart Share:         1 liner log 3 months 6 months year all time Transactions Block Size Sent from addresses Difficulty Hashrate Price in USD Price in BTC Sent in USD Avg.)submitted by π Rendered by PID 13845 on app-521 at 2017-06-24 12:23:16.107570+00:00 running 3522178 country code: SG.Given the peaks and troughs of the Bitcoin world, it’s tough to stay optimistic about making money with mining.But is it possible to look into the crystal ball of hash rates, changing equipment and ASIC technology to see the future of mining profitability?The world of Bitcoin mining is a tumultuous place of late and depending who you ask the mining ‘game’ is either doomed or remains a safe bet.What’s certain is that the climate is very different to that of the period of ‘free money’ that existed two years back.Long gone are the days of mining at home and graphics card based setups have given way to Application-Specific Integrated Circuits or ASIC’s, even cloud-mining services are feeling difficulties of late, with CEX.io pausing its cloud mining service back in January.

The mining hash rate had previously been growing rapidly as it ‘caught up’ with the Bitcoin price.The result of this was mining becoming a highly profitable and attractive investment, which lead many to invest in mining-focussed machines.The hash rate continued to grow notably throughout 2014, but with the rate of growth dropping off.2015 has seen this trend towards a plateau continue, with the hash rate floating fairly consistently around the 350,000,000 GH/s rate.Bitcoin mining, due to lower exchange prices and a more developed network, now requires incredibly efficient, powerful equipment just to be profitable; Gone are the days of mining from home with GPU’s.Further developments in ASIC technology is likely the only beacon of light that has the potential to bring about increases in hash rate and a return to profitability without notable price surges.Further stagnated growth would likely see more significant changes to the mining landscape, with mining equipment manufacturers limiting or even ceasing retail of units and instead focussing efforts on their own equipment to increase capabilities across their mining facilities.

We are yet to see any significant increase in hash rate this year, despite promised improvements in energy efficiency; this could be due in part to mining companies taking their time to replace older equipment with the most state of the art ASIC solutions.It appears that some leading mining organisations are yet to replace their equipment, this can seen by the fact that some notable companies’ share of the total hash rate has increased whilst others have decreased.This leads many to anticipate a boost in hash rate as further large mining organisations bring next generation equipment online.The future of Bitcoin mining profitability Blocktrail’s “Pool Distribution” shows quite clearly that Bitfury has grown significantly over the last 6 months, as has AntPool’s capacity.This is a likely indication that these two mining organisations have been introducing new equipment.Many estimate that the total hash rate is set to rise again as new equipment is deployed across the board and new ASIC developments are initiated, with some believing the total network hash rate could reach over 700,000,000 GH/s.

Electricity costs will continue to be an important factor for miners to consider, but due to the nature of the mining landscape nowadays this is essentially just an operating cost factored into a sizeable business.It is important to remember that development is continuous in the field of ASIC technology and the most exciting new systems can take a long time to go from design to production and even longer before they can takeover as the main systems in large mining facilities.Despite all these concerns, many are still optimistic for a future of profitable mining with Bitcoin; Max Keiser’s Bitcoin Capital Fund on the BanktotheFuture platform is offering a way for less technically minded investors to speculate on Bitcoin and they say a significant amount of the investment funds are destined to go towards mining.ebay clone script bitcoinUltimately there are a great deal of different factors that will decide the future of Bitcoin mining and its profitability.bitcoin namecoin

If innovation can continue with the development of ASIC technology and extremely efficient systems for powering the hardware, then perhaps we will see notable increases in total network hash rate soon, but as is often the case with Bitcoin nobody can know for sure!Jump to: , See also: Non-specialized hardware comparison Below are statistics about the Bitcoin Mining performance of ASIC hardware and only includes specialized equipment that has been shipped.GPUs, CPUs and other hardware not specifically designed for Bitcoin mining can be found in the Non-specialized_hardware_comparison.bitcoin miner kaufenBe sure to research any of these vendors and machines intensely before spending any money.bitcoin cpanel hostingBefore we start, if you’re new to Bitcoin mining and don’t know what it is watch this short and simple explanation: The short answer would be “It depends on how much you’re willing to spend”.pool worker bitcoin

Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors.In order to find out Bitcoin mining profitability for different factors “mining profitability calculators” were invented.These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other variables and give you an estimate of your projected profit.Before I give you a short example of how this is calculated let’s make sure you are familiar with the different variables: Hash Rate – A Hash is the mathematical problem the miner’s computer needs to solve.bitcoin beursThe Hash Rate is the rate at which these problems are being solved.The more miners that join the Bitcoin network, the higher the network Hash Rate is.The Hash Rate can also refer to your miner’s performance.Today Bitcoin miners (those super powerful computers talked about in the video) come with different Hash Rates.

Miners’ performance is measured in MH/s (Mega hash per second), GH/s (Giga hash zper second), TH/s (Terra hash per second) and even PH/s (Peta hash per second).Bitcoins per Block – Each time a mathematical problem is solved, a constant amount of Bitcoins are created.The number of Bitcoins generated per block starts at 50 and is halved every 210,000 blocks (about four years).The current number of Bitcoins awarded per block is 25.However soon enough the block halving will occur and the reward will be downgraded to only 12.5 Bitcoins.Bitcoin Difficulty – Since the Bitcoin network is designed to produce a constant amount of Bitcoins every 10 minutes, the difficulty of solving the mathematical problems has to increase in order to adjust to the network’s Hash Rate increase.Basically this means that the more miners that join, the harder it gets to actually mine Bitcoins.Electricity Rate – Operating a Bitcoin miner consumes a lot of electricity.You’ll need to find out your electricity rate in order to calculate profitability.

This can usually be found on your monthly electricity bill.Power consumption – Each miner consumes a different amount of energy.Make sure to find out the exact power consumption of your miner before calculating profitability.This can be found easily with a quick search on the Internet or through this list.Power consumption is measured is Watts.Pool fees – In order to mine you’ll need to join a mining pool.A mining pool is a group of miners that join together in order to mine more effectively.The platform that brings them together is called a mining pool and it deducts some sort of a fee in order to maintain its operations.Once the pool manages to mine Bitcoins the profits are divided between the pool members depending on how much work each miner has done (i.e.their miner’s hash rate).Time Frame – When calculating if Bitcoin mining is profitable you’ll have to define a time frame to relate to.Since the more time you mine, the more Bitcoins you’ll earn.Profitability decline per year – This is probably the most important and illusive variable of them all.

The idea is that since no one can actually predict the rate of miners joining the network no one can also predict how difficult it will be to mine in 6 weeks, 6 months or 6 years from now.This is one of the two reasons  no one will ever be able to answer you once and for all “is Bitcoin mining profitable ?”.The second reason is the conversion rate.In the case below, you can inset an annual profitability decline factor that will help you estimate the growing difficulty.Conversion rate – Since no one knows what the BTC/USD exchange rate will be in the future it’s hard to predict if Bitcoin mining will be profitable.If you’re into mining in order to accumulate Bitcoins only then this doesn’t need to bother you.But if you are planning to convert these Bitcoins in the future to any other currency this factor will have a major impact of course.In order to calculate all of these parameter and get an answer to our question we will use a mining profitability calculator.here’s a simple mining calculator from 99Bitcoins: KH/s MH/s GH/s TH/s PH/s However, now let’s take a look at a more complex example were we include more factors: Today one of the most advanced miners out there is the Antminer S9.

It’s what is known as an ASIC mining rig.It has a mining rate of 14 TH/s.If we use the simple Bitcoin mining calculator (shown above) you will see that at today’s difficultly you will earn around 1 Bitcoin a month.But of course this doesn’t take into account the hardware cost, electricity cost, pool fees, etc. Let’s try to calculate all of these together.This data was taken from an advanced Bitcoin mining calculator using the following stats: 2% mining pool fees, 25 Bitcoins as a block reward, 14 TH/s hash rate, 1375W power consumption.So after 12 months we should be making around $6,000.However we haven’t deducted the hardware cost yet, so it’s more like $ 3,400.Also, pretty soon the block reward goes down to 12.5 so we’ll actually only be breaking even.Of course this result can change depending on your own electricity cost, the change in mining difficulty and most importantly the change in the price of Bitcoin.So you’re probably not going to get rich by mining Bitcoins at home unless you buy some heavy duty equipment and have very low electricity costs.

Here’s a list of the most efficient Bitcoin mining hardware out there today.There’s not a lot of variety to pick from since home mining is a dying art.88%Read review95%Read review81%Read review83%Read review79%Read review76%Read review70%Read review So even though home mining is an expensive business there are still other option that may be relevant for you to get into the mining game at a lower cost.There a new concept called “cloud mining“.This means that you do not buy a physical mining rig but rather rent computing power from a different company and get paid according to how much power you own.At first this sounds like a really good idea, since you don’t have all of the hassle of buying expensive equipment, storing it, cooling it, etc. However, when you do the math it seems that non of these cloud mining sites are profitable in the long run.Those that do seems profitable are usually scams that don’t even own any mining equipment, they are just elaborate Ponzi schemes.

If you do want to take a look at cloud mining I suggest using Genesis Mining – the only cloud mining company that has been around long enough to prove it’s not a scam.But make sure to do the month before putting your money into any of these plans.One more option you can consider is mining Altcoins instead of Bitcions.Today there are hundreds of Altcoins available on the market and some of them are still real easy to mine.The problem is that because there are so many Altcoins it’s hard to tell which ones are worth investing your time in.Some good examples for Altcoins are Litecoin, Dogecoin and Peercoin.In order to understand which Altcoins are profitable you can find website indexes such as CoinChoose that give you a complete Altcoin breakdown.On CoinChoose you can see the difficulty for each Altocoin, where can you exchange them and what are the chances to profit Bitcoins by mining each specific Altcoin.My guess is that in the long run you could make a profit from Bitcoin mining but only if you invest a considerable amount of money in a good mining rig (e.g.