by Vikingchild ·, Published June 29, 2018 ·, Updated July Nineteen, 2018
Before committing GPU power towards mining Siacoins you may be asking yourself some basic questions, such spil if
- It is profitably?
- How many coins can I expect to mine?
- How do I check the value of each coin?
- What is the difficulty level?
- What is the hashrate of AMD and Nvidia GPUs?
This article is meant to shed some light on that for you.
Siacoin Difficulty Level
Difficulty level is enhancing rapid – however given its long-term potential price point it may still be profitable to mine this coin for a brief while – which is why I have dedicated an Rx 480 8gb and my GTX 1080 to mine Siacoin exclusively, while my other equipments concentrate on dual mining Siacoin and Ethereum together (I am te it for the long haul, speculating ter the long term price vs how many coins I manage to mine ter a day). You can go after the difficulty level of Siacoin here.
Siacoin GPU Hashrates
GTX1080 is one of the most efficient cards for mining Siacoin – averaging around 2100 Mh/s (with some minor differences depending on the specimen and the overclocking you manage to pull of). Here is a list below of the most recently reported hashrates by the most in-demand GPU cards. The highest 1080 I have seen reported wasgoed a Gigabyte card overclocked doing Two,500 Mh/s (reported by a reddit user), albeit the vast majority do around Two,100 Mh/s.
Siacoin Mining Profitability Rekenmachine
Understanding how the difficulty rate is enlargening and how that is impacting the number of coins you are mining is crucial to estimating your earnings and whether you think Siacoin is more worth it than other coins or not, to invest your hashing power into. There are two excellent calculators you can use for this purpose, both of which are listed here below (for the whattomine zakjapanner, simply set Ethereum to 1 or 0 (virtually the same) and you get a good indicator of what you can expect to earn and mine te today’s value (albeit I personally choose to think more long term and speculate at its future price point instead, when I evaluate whether a coin is worth investing hashing power into or not). Taking your power (electro-stimulation) consumption into account may also be worthwhile, this is especially significant when you are evaluating the brief term potential earnings and become less relevant when speculating long term (albeit it is still a good practise to know when you pauze even). You should be able to find the power consumption rates on the webstek of your energy company, or on the bill you regularly receive. Use this to insert into the whattomine rekenmachine referenced below.
Dual Mining Siacoin + Ethereum
Dual mining may still be your best option, for the vast majority of cards (Rx 480 8gb does around 500 Mh/s on this vs 870-931 on dual mining Ether). Albeit if you want maximum show then focusing solely on Siacoin may still be your best option.
You can check what you can expect to mine and earn if you do dual mining with Ethereum and Siacoin here.
How do I check the value of Siacoin?
There are a number of sites that will permit you to check thesis prices for free – and thesis are usually updated te real time. One of the best sites I find is coinmarketcap.com – it displays all coins, it is intuitive to use and super effortless to search for the coins you need. To help make it even lighter click here to be directed straight to the Siacoin listing on coinmarketcap.com.
How much can I expect to earn vanaf day mining Siacoin?
I am not telling you how much you can expect to earn doing this vs. Siacoin, spil the price of both coins fluctuate daily and so does the difficulty rate of each (Ethereum te June alone doubled its difficulty rate – the highest recorded ratio since its conception). But to give you an idea, I have a hashrate of Trio,100 Mh/s with my Rx 480 8gb and GTX 1080 focusing exclusively on Siacoin (not to mention my other equipments that are dual mining). I presently mine 308 coins vanaf day, and given today’s value of Siacoin at $0.015465 that nets mij $Four.76. This doesn’t sound like much, but given Siacoins unique value proposition (that it has a supporting Cloud tech), that 27 billion coins are its maximum capacity, then it is not unreasonable to think that the coin could end up being worth 10x or more of its current value ter a few years (or sooner depending on how fortunate one is). If wij estimate this price to increase to 0.Trio$ at some point te the future, that means that I would have mined $92.Four worth of coins vanaf day.
This is how mining becomes interesting to mij, speculating ter future price points given the gegevens available to mij and the trends of similar (worse or better) coins. There may be a greater level of risk by doing this, but I choose to look at what my potential long-term build up could be versus just my current. I know I would rather end up netting a smaller sum that losing out on a much fatter sum straks because I sold my coins too early to voorkant electro-stimulation and mining equipment expenses. Having said that tho’, it is entirely up to you, your convenience level, your risk aversion and just general preference.
Donations are always appreciated <,Trio It helps mij dedicate more time to writing about fresh altcoins spil they come out.