Easy BitCoin Mining Calculator

How long until bitcoins aren't accessable to the average user?

This is a general discussion on the bitcoin market itself, but also has to do with mining. If a mod determines that it needs to be moved to a different sub-reddit such as the mining reddit, please notify me and I will do so.
I'm not much of a genius when it comes to bitcoins, but I do know about the market and a good bit about how people think, since I'm a human myself.
When I first looked into bitcoins, people still made profit CPU mining. This is possible today, but anyone in bitcoinmining can tell you that it probably isn't worth your power bill, or even the internet bandwidth you used to download the miner. Then there was a paradigm shift where everyone started buying GPUs to mine off of, which is what most people have been doing recently, as far as I know. With some of the newest tech, you can get hundreds of Mhash on consumer level (ok, maybe a bit higher) GPUs. But that's not enough. With new development in ASIC cards, mining is a lot faster. In BTC Guild, the ASICMiner account reaches over 7kGhash, which calculates to around 400BTC per day (not necessarily as profit, however).
Anyways, back to non-mining spec talk. Because of these new cards being released, they will become the new standard for mining, the way that GPU overthrew CPU. This is natural, but could case obvious problems. As consumer level CPUs become obsolete in the mining world, and GPUs aren't seen as the standard because of development in ASIC technology, and with Moore's law providing the basis for cards like ASIC miners improving over time, will regular people lose interest in bitcoin?
I've been seeing many threads in bitcoinmining titled "Just bought a new gaming computer, can I use it to mine?" followed by specs that aren't too shabby; multiple GPUs, 4.0GHz+ processors, very nice (yet expensive) computers. Your average Joe wouldn't buy this, and it's not even seen as very good for mining. This is just the start. When an ASIC is seen as "required" to start mining, people with high end PCs won't even try. Therefore, the only way that the average computer user will acquire bitcoins is through buying them, which brings up the issue of discovery. Sure, more and more businesses are accepting bitcoins every day. But will the acceptance of bitcoins by smaller stores move people to try it out? If someone is going to buy a product on Amazon, for example, and they have a credit card linked up with their account, how will a "Pay with Bitcoin" link motivate them to invest in what the media usually portrays as a "made up currency"?
My overall thesis is that it seems as if the direction bitcoin is going in will cut off the entry of average users and restrict it to computer aficionados. This will have obvious effects on the market, which you can speculate on your own.
But tell me, reddit, what are your thoughts on the issue? How can we reform this economy to be suited to entering, average users when currently it's aimed at people with very strong PCs? Do you think it should stay this way? Do you have an innovative way to prevent this new paradigm from occurring and reducing new potential bitcoin circulators? I'm open to all thoughts and conversation, for this topic really intrigues me. Who knows, tomorrow an ASIC for residential use could be released and soccer moms would mine their own currency.
submitted by Stealtheh to Bitcoin [link] [comments]

How to calculate SHA-256 hash without any software? - YouTube Bitcoin And Other Money Make Money Easily 850$ to 5k Per Week With Bitcoin Mining How Bitcoin Works in 5 Minutes (Technical) - YouTube 7 DAY$-24/HR$ - BITCOIN MINING EXPERIMENT - See How Much ...

25 BTC per Block * 6 blocks per hour * 24 hours per day = 3600 BTC per day. So you would need 1/3,600 of the current average hash rate to earn 1 BTC per day. Remember that the average hash rate for the previous two weeks, which is what determines the current difficulty. The difficult changes every 2016 blocks. The difficulty is used to steady the rate of Blocks found to about 1 every 10 ... Calculate your BTC per interval, euro's/USDs/Pound per interval via your mining hash-rate. ฿itCoin Mining Calculator Do you know your Thash/second, but you want to know for example: BTC/month, euros/dollars/pounds your earn each second, day, month or year? Worry not, just fill in your Thash/sec! NEW: New market: CoinBase (default Kraken), see Advanced calculator button! Disclaimer: the ... Unlike Bitcoin’s price, the Bitcoin block reward is predictable: every four years (or 210,000 blocks to be exact), the amount of Bitcoins awarded for each block, is cut in half. In 2012, the reward was cut from 50 Bitcoins per block to 25 and is now 12.5 Bitcoins per block. In 2020, this reward will fall to just 6.25 Bitcoins per block, and ... Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining? Bitcoin Mining Calculator. Got your shiny new ASIC miner? Wondering when it will pay off? If you enter your hash rate below, this page will calculate your expected earnings in both Bitcoins and dollars over various time periods (day, week, and month). It will not attempt to extrapolate difficulty or price changes -- it provides only instantaneous calculations (how much you'd make if all ...

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How to calculate SHA-256 hash without any software? - YouTube

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