Hey everyone,
Today’s topic will be how to use What to mine.
But first, what is what to mine?
What to mine is a program that calculates your profits for various cryptocurrencies. This gives you a rough estimate as to how much profit you make after the power you consume.
Since we are in the Bitcoin Gold forum, we will stick with BTG. So, lets head on over to their website.
It may look a little intimidating, not to worry, we will walk through it.
Here is what the page looks like,
On the top of the page pick GPU, and do you see the blue highlighted Zhash on the above picture?
This is the name for the 144_5 algorithm.
This page is most useful for miners that have an understanding for the different coins to mine and their associated algorithm’s hash rate. You can compare mining Ethereum vs Bitcoin Gold or you can program all the options to see which coin is most profitable.
Most people who use this area of Whattomine usually know how to use the calculator.
This Tutorial is more for the new comers to either bitcoin Gold or new to cryptocurrencies in general.
What to mine has recently introduced a new tab on the website called coins. This is amazing for everyone especially new miners.
So, under the “Coins” tab scroll down til you see the Bitcoin Gold logo on the left, Pictured below:
Go ahead and click on the Bitcoin Gold (BTG) and it will take you to the following page.
There is quite a bit of information tucked away here on this page. So much useful information. We will go over all the sections to make sure things are explained nice and clear.
We will break it down to 4 sections. Algorithm, Calculator Explained, Exchange and Pools.
(1) Algorithm
!
Algorithm
Bitcoin Gold uses the updated Algorithm Equihash - BTG 144_5, ASIC resistant referred to Zhash Algorithm
Block Time
This is the time it took to find the last block.
Last Block
This number represents the last block number that was found on the blockchain. They increase by one numerically. In this example it shows that 591,101 was the last block, so , the next block will be 591,102 etc.
BL Reward
The block reward and 24h block reward are the same and until the halfing it will remain at 12.5 BTG per block
Difficulty
The Difficulty will adjust many times based on how quick the blocks were found.First difficulty is what the difficulty level is currently at. The 24 hr, 3 days and 7 days will give you an average that the difficulty is at.
Nethash
Network Hashrate. A rough estimate of the current speed of the network.
Ex. Rate
Exchange rate. this would be Bitcoin Gold priced in Bitcoin. Again you have the 24h, 3 days, 7 days average.
in brackets () you can see the exchange they use as a reference. currently (HitBTC)
Ex. Volume 24h
This would be the volume on the exchange listed (HitBTC)
Market cap
You can calculate this by taking the price of BTG and multiply by the Circulating Supply. this can be found on Coinmarketcap website.
Create 1 BTC in
The length of time for your miner(s) to earn one Bitcoin by mining Bitcoin Gold
Break even in
This will only work if you input all the data. example, hardware costs, otherwise it will only read 0.00 days
(2) Calculator Explained
Hashrate - If you know how many sols your video card gets, input it here
Power
This will be the power that is consumed by the GPU you can base it by one or by how many Gpu you have. it is measured in Watts (W)
Cost
Here you would input your total cost for electricity
Block Reward
We don’t need to touch this. It shows you how many BTG per block gets rewarded
Fees
If you wish to add in pool fees, this is where it goes.
Hardware Costs
I would normally leave this blank
Difficulty
Difficulty gets auto adjusted, just make sure it is enabled
Exchange Rate
The exchange rate is in BTC this gets updated after you click calculate
BTC Value
This is the current value of Bitcoin
Once you fill out the parameters, you will then look at the chart below the calculator. This will tell you what the profit will be per hour, day, week, month and year.
(3) Exchange
Here are just a few of the exchanges we are listed on.
(4) Pools
Here are a partial list of some, but not all of the pools.
The Calculation
So now that you have a breakdown of everything on the Coins tab on Whattomine, lets do the calculation
Enter your Hashrate, I am using a gtx 1060 as my example and i get an average of 39 sols per GPU. I will then input the power consumption of 104 watts and finally the cost of electricity. for me it is .125 $/kwh
Hit the old Calculate button, and presto. This will give you an estimate of earnings per hours up to roughly per year.
Here are some hashrates for a couple of the common cards, 1060, 1070, 1080 and their power consumption.
1060 - 85 w -114 w 37 sols - 42 sols
1070 - stock 170 w 56 sols and up
1080 - stock 200+ w 85 sols and up
Thanks to Rural and DirtMcGirt and others for their input.
For the video of whattomine check out our Youtube channel. The link is added below.
I hope this tutorial was helpful. as per usual you can find me on the Discord channel. Link below.
Thanks again!
Kind Regards,
Blackbox