Hello, I'm new to Bitcoin and I'm planning to invest some money into bitcoin miners in the future. I do have some questions that maybe someone who knows more than me can help with.

Do I leave miners turned on 24/7?
Does the Alloscomp bitcoin calculator do its calculations as if I'm using my miner 24/7?
How do I put an OS on an ASIC?
How do I use multiple ASIC units, or do I have to create my own private pool and use them that way?

I was thinking to buy this antminer, but i don't know how much can I earn from this(without power bill). Can somebody hint me with the number ? https://shop.bitmain.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654

arXiv:1510.02037
Date: 2015-11-11
Author(s): Ittay Eyal, Adem Efe Gencer, Emin Gun Sirer, Robbert van Renesse

Link to Paper

Abstract
Cryptocurrencies, based on and led by Bitcoin, have shown promise as infrastructure for pseudonymous online payments, cheap remittance, trustless digital asset exchange, and smart contracts. However, Bitcoin-derived blockchain protocols have inherent scalability limits that trade-off between throughput and latency and withhold the realization of this potential.This paper presents Bitcoin-NG, a new blockchain protocol designed to scale. Based on Bitcoin's blockchain protocol, Bitcoin-NG is Byzantine fault tolerant, is robust to extreme churn, and shares the same trust model obviating qualitative changes to the ecosystem.In addition to Bitcoin-NG, we introduce several novel metrics of interest in quantifying the security and efficiency of Bitcoin-like blockchain protocols. We implement Bitcoin-NG and perform large-scale experiments at 15% the size of the operational Bitcoin system, using unchanged clients of both protocols. These experiments demonstrate that Bitcoin-NG scales optimally, with bandwidth limited only by the capacity of the individual nodes and latency limited only by the propagation time of the network.

References
[1] Andresen, G. O(1) block propagation. https://gist.github.com/gavinandresen/#file-blockpropagation-md, retrieved July. 2015.
[2] Aspnes, J. Randomized protocols for asynchronous consensus. Distributed Computing 16, 2-3 (2003), 165–175.
[3] Back, A., Corallo, M., Dashjr, L., Friedenbach, M., Maxwell, G., Miller, A., Poelstra, A., Timn, J., and Wuille, P. Enabling blockchain innovations with pegged sidechains. http://cs.umd.edu/projects/coinscope/coinscope.pdf, 2014.
[4] Bamert, T., Decker, C., Elsen, L., Wattenhofer, R., and Welten, S. Have a snack, pay with Bitcoins. In Peer-to-Peer Computing (P2P), 2013 IEEE Thirteenth International Conference on (2013), IEEE, pp. 1–5.
[5] Bellare, M., and Rogaway, P. Random oracles are practical: A paradigm for designing efficient protocols. In Proceedings of the 1st ACM conference on Computer and communications security (1993), ACM, pp. 62–73.
[6] Bitcoin community. Bitcoin source. https://github.com/bitcoin/bitcoin, retrieved Mar. 2015.
[7] Bitcoin community. Protocol rules. https://en.bitcoin.it/wiki/Protocol_rules, retrieved Sep. 2013.
[8] Bitcoin community. Protocol specification. https://en.bitcoin.it/wiki/Protocol_specification, retrieved Sep. 2013.
[9] BlockTrail. BlockTrail API. https://www.blocktrail.com/api/docs#api_data, retrieved Sep. 2015.
[10] Bonneau, J., Miller, A., Clark, J., Narayanan, A., Kroll, J. A., and Felten, E. W. Research perspectives on Bitcoin and second-generation cryptocurrencies. In Symposium on Security and Privacy (San Jose, CA, USA, 2015), IEEE.
[11] Buterin, V. Slasher: A punitive proof-of-stake algorithm. https://blog.ethereum.org/2014/01/15/slasher-a-punitive-proof-of-stake-algorithm/, January 2015.
[12] CNNMoney Staff. The Ashley Madison hack...in 2 minutes. http://money.cnn.com/2015/08/24/technology/ashley-madison-hack-in-2-minutes/, retrieved Sep. 2015.
[13] CoinDesk. Bitcoin venture capital. http://www.coindesk.com/bitcoin-venture-capital/, retrieved Sep. 2015.
[14] Colored Coins Project. Colored Coins. http://coloredcoins.org/, retrieved Sep. 2015.
[15] Corallo, M. High-speed Bitcoin relay network. http://sourceforge.net/p/bitcoin/mailman/message/31604935/, November 2013.
[16] Decker, C., and Wattenhofer, R. Information propagation in the Bitcoin network. In IEEE P2P (Trento, Italy, 2013).
[17] Decker, C., and Wattenhofer, R. A fast and scalable payment network with Bitcoin Duplex Micropayment Channels. In Stabilization, Safety, and Security of Distributed Systems - 17th International Symposium, SSS 2015, Edmonton, AB, Canada, August 18-21, 2015, Proceedings (2015), Springer, pp. 3–18.
[18] Dwork, C., Lynch, N. A., and Stockmeyer, L. J. Consensus in the presence of partial synchrony. J. ACM 35, 2 (1988), 288–323.
[19] Eyal, I., Birman, K., and van Renesse, R. Cache serializability: Reducing inconsistency in edge transactions. In 35th IEEE International Conference on Distributed Computing Systems, ICDCS 2015, Columbus, OH, USA, June 29 - July 2, 2015 (2015), pp. 686–695.
[20] Eyal, I., and Sirer, E. G. Bitcoin is broken. http://hackingdistributed.com/2013/11/04/bitcoin-is-broken/, 2013.
[21] Eyal, I., and Sirer, E. G. Majority is not enough: Bitcoin mining is vulnerable. In Financial Cryptography and Data Security (Barbados, 2014).
[22] Garay, J. A., Kiayias, A., and Leonardos, N. The Bitcoin backbone protocol: Analysis and applications. In Advances in Cryptology - EUROCRYPT 2015 - 34th Annual International Conference on the Theory and Applications of Cryptographic Techniques, Sofia, Bulgaria, April 26-30, 2015, Proceedings, Part II (2015), pp. 281–310.
[23] Garcia-Molina, H. Elections in a distributed computing system. Computers, IEEE Transactions on 100, 1 (1982), 48–59.
[24] Hearn, M., and Spilman, J. Rapidly-adjusted (micro)payments to a pre-determined party. https://en.bitcoin.it/wiki/Contract, retrieved Sep. 2015.
[25] Heilman, E., Kendler, A., Zohar, A., and Goldberg, S. Eclipse attacks on Bitcoin’s peerto-peer network. In 24th USENIX Security Symposium, USENIX Security 15, Washington, D.C., USA, August 12-14, 2015. (2015), pp. 129–144.
[26] Kosba, A., Miller, A., Shi, E., Wen, Z., and Papamanthou, C. Hawk: The blockchain model of cryptography and privacy-preserving smart contracts. Cryptology ePrint Archive, Report 2015/675, 2015. http://eprint.iacr.org/.
[27] Kroll, J. A., Davey, I. C., and Felten, E. W. The economics of Bitcoin mining or, Bitcoin in the presence of adversaries. In Workshop on the Economics of Information Security (2013).
[28] Lamport, L. Using time instead of timeout for fault-tolerant distributed systems. ACM Transactions on Programming Languages and Systems 6, 2 (Apr. 1984), 254–280.
[29] Le Lann, G. Distributed systems-towards a formal approach. In IFIP Congress (1977), vol. 7, Toronto, pp. 155–160.
[30] Lewenberg, Y., Sompolinsky, Y., and Zohar, A. Inclusive block chain protocols. In Financial Cryptography (Puerto Rico, 2015).
[31] Litecoin Project. Litecoin, open source P2P digital currency. https://litecoin.org, retrieved Nov. 2014.
[32] Meiklejohn, S., Pomarole, M., Jordan, G., Levchenko, K., McCoy, D., Voelker, G. M., and Savage, S. A fistful of bitcoins: characterizing payments among men with no names. In Proceedings of the 2013 Internet Measurement Conference, IMC 2013, Barcelona, Spain, October 23-25, 2013 (2013), pp. 127–140.
[33] Miller, A., and Jansen, R. Shadow-Bitcoin: Scalable simulation via direct execution of multithreaded applications. IACR Cryptology ePrint Archive 2015 (2015), 469.
[34] Miller, A., and Jr., L. J. J. Anonymous Byzantine consensus from moderately-hard puzzles: A model for Bitcoin. https://socrates1024.s3.amazonaws.com/consensus.pdf, 2009.
[35] Miller, A., Litton, J., Pachulski, A., Gupta, N., Levin, D., Spring, N., and Bhattacharjee, B. Preprint: Discovering Bitcoins public topology and influential nodes. http://cs.umd.edu/projects/coinscope/coinscope.pdf, 2015.
[36] Moraru, I., Andersen, D. G., and Kaminsky, M. Egalitarian Paxos. In ACM Symposium on Operating Systems Principles (2012).
[37] Nakamoto, S. Bitcoin: A peer-to-peer electronic cash system. http://www.bitcoin.org/ bitcoin.pdf, 2008.
[38] Nayak, K., Kumar, S., Miller, A., and Shi, E. Stubborn mining: Generalizing selfish mining and combining with an eclipse attack. IACR Cryptology ePrint Archive 2015 (2015), 796.
[39] Pazmino, J. E., and da Silva Rodrigues, C. K. ˜ Simply dividing a Bitcoin network node may reduce transaction verification time. The SIJ Transactions on Computer Networks and Communication Engineering (CNCE) 3, 2 (February 2015), 17–21.
[40] Pease, M. C., Shostak, R. E., and Lamport, L. Reaching agreement in the presence of faults. J. ACM 27, 2 (1980), 228–234.
[41] Peck, M. E. Adam Back says the Bitcoin fork is a coup. http://spectrum.ieee.org/tech-talk/computing/networks/the-bitcoin-for-is-a-coup, Aug 2015.
[42] Poon, J., and Dryja, T. The Bitcoin Lightning Network. http://lightning.network/lightning-network.pdf, February 2015. Draft 0.5.
[43] Sapirshtein, A., Sompolinsky, Y., and Zohar, A. Optimal selfish mining strategies in Bitcoin. CoRR abs/1507.06183 (2015).
[44] Schneider, F. B. Implementing fault-tolerant services using the state machine approach: A tutorial. ACM Computing Surveys 22, 4 (Dec. 1990), 299–319.
[45] Sompolinsky, Y., and Zohar, A. Accelerating Bitcoin’s transaction processing. fast money grows on trees, not chains. In Financial Cryptography (Puerto Rico, 2015).
[46] Sompolinsky, Y., and Zohar, A. Secure high-rate transaction processing in Bitcoin. In Financial Cryptography and Data Security - 19th International Conference, FC 2015, San Juan, Puerto Rico, January 26-30, 2015, Revised Selected Papers (2015), pp. 507–527.
[47] Stathakopoulou, C. A faster Bitcoin network. Tech. rep., ETH, Z¨urich, January 2015. Semester Thesis, supervised by C. Decker and R. Wattenhofer.
[48] Swanson, E. Bitcoin mining calculator. http://www.alloscomp.com/bitcoin/calculator, retrieved Sep. 2013.
[49] The Ethereum community. Ethereum white paper. https://github.com/ethereum/wiki/wiki/White-Paper, retrieved July. 2015.
[50] Wikipedia. List of cryptocurrencies. https://en.wikipedia.org/wiki/List_of_cryptocurrencies, retrieved Oct. 2013.

Not completely sure how the bitcoin algorithm work, but from what I understand the more computing power you throw into the system, the higher the "Difficulty Factor". And with a higher Difficulty Factor it becomes less profitable to mine bitcoins. In just a few days I see that the Difficulty Factor has increased quite fast, meaning a week ago with a 5gh/s setup you would mine 9.45 BTC a month, while now, with the same amount of computing power you would only get 7.59 BTC a month..
Assuming what I said here is correct, again, not an expert. One day I'll look into the source code and learn more about it. Anyway. What are the predictions of the Difficulty Factor the next coming months with butterfly labs and other shipping hundreds of components capable of producing 50 GH/s..
My prediction is that GPU mining will die out as the difficulty level increases dramatically. How much I have no idea, but while a 5 GH/s setup gives a lot of BTC now, it might just produce a few cents in two months.. What are your predictions?

I found this calculator online:
https://alloscomp.com/bitcoin/calculator
If I punch in the advertised TH/s of my miner I get some output figures for what I can expect to earn in a day/month/year. However, the numbers cant be right, can they? I think this is assuming I am solo mining and I am able to solve a block on my own? Can anyone help explain this? How would joining a mining pool affect my numbers?
For a 75 TH/s mining right it says I will earn the following:
Difficulty - 5.21974519554e+11 Exchange rate - $1548 Block reward - 12.5 BTC
Per day - 0.03613011 BTC $55.93 Per week - 0.25291074 BTC $391.52 Per month - 1.09971008 BTC $1702.42

Hey guys!
Recently, me and one of my friends got really excited about bitcoins. We have some money to spend on this, and we have chosen a device, called AntMiner S3 (around 159 dollars, with a 453 GH/s value. We calculated it on a site, and it showed, that the earning per month is around 40-45 dollars. My question is, are these values:
-Correct? -Do they mean solo or pool?
The site https://alloscomp.com/bitcoin/calculator
Thanks in advance!

I am intrigued at the concept of setting up an ASIC miner, and let it generate money in the form of Bitcoins 24/7. So, I started researching ASIC miners and based off of the estimated monthly income generated by https://alloscomp.com/bitcoin/calculator as well as a rough estimate of the monthly power cost to run said miners. I could not find a single miner that would mine with enough efficiency to even pay for the power that it uses. I'm not sure if there is something that I am not aware of, (I am a complete noob to this) I do not know how I could possibly turn any profit mining Bitcoins. I do know that there are mining pools but I do not know if the calculator I used takes them into account or if pools even increase your revenue.

If I had a Block Erupter 49 Port USB Hub and started filling it with AntMiner U2 2 gh/s USB miners, how do I figure out how many coins I can mine versus the expense of the hardware? (lets forget about electricity for now)
The Hub is $99 and the AntMiner U2 2gh/s are about $23 each.
I looked at this: https://alloscomp.com/bitcoin/calculator
so plugging in 98 gh/s (49 miners * 2gh/s each) it would seem that this makes $16/mo but this hardware would cost about $1200 + a power supply to power it all.
Where is the sweet spot for hardware cost versus return? is the above setup worth the money or for the same amount is there a better solution?

I decided to look into Bitcoins and Bitcoin Mining a few days ago and tonight I decided to install BitMinter and get my feet a little wet. So far I'm seeing a hash rate of between 1.29 Mhps and 1.65 Mhps. I'm aware this is very low, but how low? Am I looking at roughly 1 Bitcoin per day at this rate? If I wanted to turn a profit on Bitcoin Mining over my investment within, say, one to three months, what sort of upfront investment in hardware would I be looking at? And what hardware would you guys recommend?
Found this calc: http://www.alloscomp.com/bitcoin/calculator

Hello everyone, i would like to start mining and have done a fair share of research. I decided my best bet was to go with the Antminer s5 and and corsair 750w psu. What do you guys think of that? and another question is, i used https://alloscomp.com/bitcoin/calculator to calculate my projected earnings and it said i should make around 3.00$ a day at 1200 GH/s. With those calculations ill have most my money back within 6 months, am i missing something obvious or what because ive seen many posts where users claim that mining for profit is dead. Power is not paid by me, but for those curious it cost .08 here.

We know the efficiency of the newest ASICs. Miners will keep adding capacity until their margins are fairly low, say 20% more than their electricity costs.
Bitfury's new miner only uses 0.8J/GH (here it uses 1J/GH, but they're underclocking the chips in final devices to reach 0.8J/GH). With an electricity price of $0.1/kWh, that means miners want to make at least $0.12 per kWh spent.
0.8J / GH
1 kWh = 3600000 J
So mining for one day at 1 GH/s at 0.8J / GH uses 3600*24*0.8J:
69120J / GH/s for 1 day
which, in kWh, is:
0.0192 kWh / GH/s for 1 day
so to spend 1 kWh per day we can mine at 1/0.0192 GH/s for 1 day:
1 kWh / 52 GH/s for 1 day
Mining at 52 GH/s for 1 day currently makes $78.53 (at the next difficulty of 25.7M).
So in order for it to only produce $0.12 (which miners are willing to go down to), network hash rate would have to increase by a factor of 78.53/0.012 = 6544
So at current ASIC efficiency (using Bitfury as an example), the difficulty will increase to 168 billion (168,000M) until miners' margins are 20% (at current BTC prices).
This will bring the network hashrate up to 1243 PH/s (1,243,360 TH/s).

Place to keep random notes

Can someone help me analyze the relationship between mining equipment hash rate and profitability? At what scale does it become profitable to open a dedicated mining operation?

http://www.alloscomp.com/bitcoin/calculator
With my 7950 running approximately 400 MH/s i should be earning $66.28 a month if everything stays the same. Is this accurate?

Hi all,
First post contribution here. Want to thank everyone in advance for reading. Just wanted to share some opinions.
Judging by your watchlist, obviously MELY on the radar for a lot of you. I wanted to bring a separate viewpoint, this one centered around the chart and timeliness of some convertibles coming down the pipeline.

On June 28, 2013, the Company issued a convertible promissory note to Gel Properties, LLC. Under the terms of the note, the Company has borrowed a total of $30,000 from Gel Properties, LLC, which accrues interest at an annual rate of 6% and has a maturity date of June 28, 2014.

There are no convertibles between now and then - source.
Now I haven't been able to get an accurate count of O/S - we'd be naive to think it hasn't gone up since the last quarterly. So estimate, worst case 400M. That leaves the current market cap around $1M. ONE MILLION.
The A/D line, and the OBV line on the chart are in an obvious upswing. There was obviously some dilution at the last two tops, but once again, to be expected to some extend.
What I believe we have here is a monstrous opportunity for ~6 weeks of uninhibited growth before the next convertible - which I GUARANTEE you can expect a manufactured pump out of to further the price up. As I've posted in other forums, with their anticipation of acquiring 100 TH/s servers, they can be expected to mine $77,000/mo. at this difficult level.. Obviously this performance will decline at the next difficulty level. So let's assume year one at full capacity to represent ~$750k in revenue from bitcoin mining activity. This is not including the fact that bitcoin prices can rise (as well as fall).
Just remember the date - June 28th. Watch out for a promotion to start around that day and GTFO.

I am still getting a grasp on the idea of mining Bitcoin these days, and whether it's a worthwhile investment.
I came across this new product from Butterfly Labs which claims (approximately) 300 GH/s nominal performance. The card is $2800.
Now, assuming this calculator's information: http://www.alloscomp.com/bitcoin/calculator a card running 24/7 pumping out 300 GH/s would result in approximately 9 coins per month.
With the current rate over $400 per coin, would that not mean that a single card like this, would pay for itself in one month?
Apologies if this is stupid to ask. I also understand that this rate will decrease as the difficulty increases, but I am genuinely curious about this, and figured this is the place to find out my answer.

If you were to say, buy the 4.5 GH/S BITCOIN MINER from Butterflylabs for 150 dollars, the calculator (http://www.alloscomp.com/bitcoin/calculator) reckons you'd be making 800 dollars a week.
This seems like something can't be quite right! What's going on?

Im using diablo on a box with a Radeon 4850, getting about 34 MH/sec using BTCguild
Is this good? How long would it take to get 1 BTC? Im a little dense so someone hold my hand to give me an idea where this is going?

So I read about this new ASIC bitcoin mining hardware and looked into the numbers a bit more, and if butterfly labs starts shipping these out and the currency stays as strong as it is, the spoils look promising.
So they sell different models ranging from $150- $30,000, you can check them out here: http://butterflylabs.com/
When I use this calculator: http://www.alloscomp.com/bitcoin/calculator With the current difficultly and exchange rate if you ran the lowest end $150 model 24/7, the Bitforce Jalapeno, you'd make $1,043.68 dollars a month, which is upwards of $12000 a year for $150 box.
More staggeringly, if you dropped 30 grand on the highest end model, you'd make upwards of $4,000,000 a year.
I realize this is all probability, but I'm wondering if I'm missing something, what I can think of is this: with the introduction of new, more advanced hardware the difficulty will get higher and returns lower for individual owners of these things. That, and the availability of the machines themselves.
Let me know if I'm missing something completely, but this looks very promising.

Alloscomp - injbhilwara.com

Noob questions about bitcoin

How much can you earn via ANTMINER S9 ?

Bitcoin-NG: A Scalable Blockchain Protocol

Link to Paper

Bitcoin is stronger than ever!

New Difficulty:567358

Bitcoin "difficulty" already gone from 8.000.000 to 10.076.292 in a few days, how will asic mining effect "difficulty" in the coming months?

Bitcoin Mining Calculator - Am I understanding this correctly?

Question about mining..

Thinking of getting an ASIC miner, nothing seems efficient enough (noob)

How to determine a break even point and how many coins one can mine?

I have a few Bitcoin Mining questions...

Want to start mining.

At current state-of-the-art Bitcoin ASIC miner efficiency, the network hash rate will increase until it hits around 1243 PH/s (1,243,360 TH/s) (difficulty 168 billion)

FAQ-ish thing

Question About Mining Operation Profitability

I found this online calculator, it seems too good to be true, is it accurate?

MELY - timing is looking good, so is chart

Does my math add up? (Question regarding mining using some new gear)

ASICS? How does this work?

Noob Question: Is this acceptable? How long would it take? (New to this who BTC THING)

Bitcoin Mining: Too Good to be True?

New Difficulty. Not as bad as last time. Even still, check and see if you're still profitable.

CALCULADORA DE MINERIA BITCOIN