Bitcoin mining still worth it 2017

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. New, more efficient mining hardware may be released at any time, although the hardware is beginning to reach its efficiency limitations. This can usually be found on your monthly electricity bill.

In the case below, you can insert an annual profitability decline factor that will help you estimate the growing difficulty. Unless you command a huge hashrate, your odds of solving a block by yourself i. In other words, the unit will pay for itself within a year.

I am a content-detection robot. In the case below, you can insert an annual profitability decline factor that will help you estimate the growing difficulty. These calculators take into account the different parameters such as electricity cost, the cost of your hardware and other bitcoin mining still worth it 2017 and give you an estimate of your projected profit. Each miner consumes a different amount of energy. This can usually be found on your monthly electricity bill.

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 bitcoin mining still worth it 2017 be to mine in 6 weeks, 6 months or 6 years from now. The Hash Rate is the rate at which these problems are being solved. Charts Difficulty from Blockchain.

This is probably the most important and elusive variable of them all. With electricity being the major cost of Bitcoin mining the price paid per watt will greatly influence profitability. I found similar content that readers might be interested in: AntMiner S9 is a modern mining rig which offers a good bitcoin mining still worth it 2017 for its power consumption, and is considered the cutting edge of mining tech.