How to Use Bitcoin Calculator
on channel: Internet Services and Social Networks Tutorials from HowTech
In this tutorial you will learn how to use a Bitcoin calculator.
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In this tutorial, you will learn to use a Bitcoin calculator.
The main function of a Bitcoin calculator is to compute how much processing power it will take to generate Bitcoins with a given hardware setup. Because of the deterministic nature of all the elements, this can be calculated quite easily.
Step 1.
Open up a web browser and go to http://bitcoinx.com. On the right panel you will see a link to the "Bitcoin mining profitability calculator". Click on it.
You will be presented with a set of variables upon which your profitability will depend.
Step 2.
Before you do any calculation, please take a moment to read the notes below the calculator.
These said, let's run a simulation. Suppose you have around 3000$ to invest in your mining activities, for a period of three months. Enter these values in the corresponding fields.
Let's say that you also have a green energy generator and you can cover this activity without consuming any extra power. Put 0 in the Power Consumption field.
Step 3.
Mind the results table: according to the estimation, your hardware will break even in 12 days, and then continue to offer you a profit.
Result: Congratulations! You have learned how to use a Bitcoin calculator.
Watch video How to Use Bitcoin Calculator online without registration, duration hours minute second in high quality. This video was added by user Internet Services and Social Networks Tutorials from HowTech 18 August 2013, don't forget to share it with your friends and acquaintances, it has been viewed on our site 2,88 once and liked it people.