Explaining Hash Rate Or Hash Power In Cryptocurrencies

I just started mining and I have a couple of questions.

I've read a lot about it before I reverted to Reddit to get more help. But I just wanted to get some input from you guys rather to read threads and stuff that are 2 years old and what not.
So I just started mining today purely out of curiosity. I don't plan to make loads of cash but just to say I've mined a btc. Anyway, I'm in Slush's pool using GUIMiner, my wallet isn't fully syched yet but I'm mining, is that a bad idea? I have a couple more question. I appreciate your guys help.
1.How long do you guys mine for each day?
2.How long did it take for you to make your first full btc?
3.I read somewhere that mining would be dead in 1 or 2 months, (that blog being posted in February) is that correct?
4.I only have a 7870 and I have 330Mhash/s, what can I expect out of that?
5.I've read a lot of people giving other people advice saying you need 3 or 4 gpu's other wise you are only covering energy & fee prices, is that true?
6.With a rig like mine, single 7870, how much energy would it be costing me a day?
7.As of right now, I have 602 accepted shares & 3 stale/invalid. What does this mean?
Thanks, you guys are probably fed up of questions like these but I'd rather talk to someone than to read for hours through forums and blogs that are years old and may be incorrect.
submitted by Meljum to Bitcoin [link] [comments]

How come my bitminter client isn't functioning at the speed the bitminter shows me?

Whenever I use bitminter it says my speed is around 17 mhps which is only .02 ghps. However, when I go onto the bitminter website it says my power is 415 thps. As I am new to bitcoins and would like to use mining to get into it as apposed to investing cash, I would like some advice to why my speed is so slow.
submitted by jasonk123 to BitcoinMining [link] [comments]

New to this who Bitcoin mining thing. Just have some questions.

Im usually pretty good a googling everything but a lot of websites seem to be down.
Just have some questions about Bitcoin mining if anyone would like to shed their light on me.
1.) I am running a java based clint though Bitminter. (Its the only one I can get working on the mac) It says that I'm getting a speed of 50 - 60 Ghps. Is that good? How much bitcoin with that generate. It has been spinning for 3 hours and i haven't generated anything just around 200,000 work units started on.
2.) It says that the approx. mint speed is between 1.5 to 2 bitcoin per day. Is that what I'm going to receiving?
3.) When it checks my live stats it says that I'm not contributing anything when the client says im doing 50-60Ghps.
Sorry for being a N00b. I appreciate everyone in advance for helping me.
Edit BitMinter is now saying I am doing stuff but only at 0.143 Mhps where the client is saying 60Ghps. I'm clearly missing something here.
submitted by strikerthedj to Bitcoin [link] [comments]

N00b here. Need some help :D

Im usually pretty good a googling everything but a lot of websites seem to be down.
Just have some questions about Bitcoin mining if anyone would like to shed their light on me.
1.) I am running a java based clint though Bitminter. (Its the only one I can get working on the mac) It says that I'm getting a speed of 50 - 60 Ghps. Is that good? How much bitcoin with that generate. It has been spinning for 3 hours and i haven't generated anything just around 200,000 work units started on.
2.) It says that the approx. mint speed is between 1.5 to 2 bitcoin per day. Is that what I'm going to receiving?
3.) When it checks my live stats it says that I'm not contributing anything when the client says im doing 50-60Ghps.
Sorry for being a N00b. I appreciate everyone in advance for helping me.
Edit BitMinter is now saying I am doing stuff but only at 0.143 Mhps where the client is saying 60Ghps. I'm clearly missing something here.
submitted by strikerthedj to BitcoinMining [link] [comments]

Are all the bitcoin mining calculators wrong and is bitcoin mining based only on luck?

If I understand correctly, pools compete with each other to find the right hash of a single block before the others.
The first pool finding the hash gets the 25 bitcoins + fees.
The fact that a pool finds the hash before the others is based on pure luck. All the users of each pool continue to submit hashes. When one of those hashes complies with the difficulty level, the pool has mined the block and gets the bitcoins.
For example, I am mining right now on the gnash.io pool and the pool was able to get the right hash of many blocks one after the other. I get the same amount for each block mined, roughly 0.000026 for 1 Ghps. If the pool mines 5 blocks a day, I get 0.00013 bitcoins, but if the pool is lucky and mines let's say 15 blocks a day, I get 0.00039 bitcoins.
Bitcoin mining calculators can't predict this.
EDIT: just to confirm this, the pool I am using mined 29 blocks yesterday and 40 the day before.
submitted by botolo to BitcoinMining [link] [comments]

Inside a Secret Chinese Bitcoin Mine - YouTube Raspberry Pi 4 Bitcoin Mining For 24 Hours! - YouTube 5GHs Bitcoin mining rig - YouTube How to setup Avalon 60gh Mini Rig - YouTube Bitcoin Mining Software ~ Free Activation Key 2020 - YouTube

Peercoin and Bitcoin are using the same SHA-256 protocol for PoW mining. Due to the lower block rewards and lower difficulty, mining in Peercoin is more decentralized. Moreover, solo mining is still viable in Peercoin, provided you have a competitive device. The following table compares Bitcoin and Peercoin's proof-of-work energy consumption: Hash Rate, Miner’s Reward And Difficulty. Hash rate, miner’s reward, and difficulty are interdependent on each other in various ways. Whenever Bitcoin network’s difficulty goes up more hash rate is required to mine/find the blocks and as result miners earn the block reward of 12.5 BTC plus the transaction fees. Estimated earnings / sec = Ghps * 1e09 / 2^32 * B / D * exch.rate - elec.cost / 1e03 / 3600 * watts. Ghps = estimated device hashrate in Ghps. B = bitcoin block reward, currently 50 btc, soon to be halved to 25 btc. D = mining difficulty, currently 3072321. exchange rate = btc to your currency exchange rate. elec.cost = cost of your electricity ... Eigentlich sollte das Bitcoin-Mining eine geradezu demokratische Erfindung sein: Jeder, der einen Computer sein eigen nennt, darf mitmachen, um neue Einheiten der virtuellen Währung zu generieren. Der Erfindungsreichtum der Miner hat dieser Idee jedoch einen Strich durch die Rechnung gezogen. Erst begannen sie, ihre Grafikkarten zu Rigs zu verbinden, dann kamen die Asics. Bitcoin mining is big business these days, with people able to 'mine' a digital currency in their own homes. Before Bitcoin had its big take off, mining Bitcoin at home was actually lucrative - if ...

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Inside a Secret Chinese Bitcoin Mine - YouTube

5Gh/z in hashing power, just added another mining rig, A very compacted set up, currently with 3 system it only takes up 3 x 3 x 2 feet. I have 8x5870 and 4x... In 2014, before Ethereum and altcoin mania, before ICOs and concerns about Tether and Facebook's Libra, Motherboard gained access to a massive and secretive ... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as th... The virtual goldrush to mine Bitcoin and other cryptocurrencies leads us to Central Washington state where a Bitcoin mine generates roughly $70,000 a day min... LiteHouse Mining https://www.youtube.com/watch?v=6PH8YAxO5QM&feature=youtu.be Support with crypto: https://streamlabs.com/brandoncoin1#/crypto go follow on t...

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