Quote from: alexde989 on March 27, 2016, 02:13:23 PM

Quote from: Erkallys on March 27, 2016, 01:44:27 PM

Quote from: alexde989 on March 27, 2016, 01:41:01 PM

Quote from: GermanGiant on March 27, 2016, 11:47:06 AM

Quote from: alexde989 on March 27, 2016, 11:42:21 AM

I am new to bitcoin and I can't understand how to calculate the amount of bitcoins yielded given the GH/s. Say I am running 100GH/s for 24x7 for 1 week so whhat is the amount of bitcoins I will have ? If I am running on a cloud architecture ? Can someone show the calculation ?

Use mining calculators like www.cloudmining.website/calculator.php

Per week return for 100Ghs is ~0.00212716 BTC.

Thanks for your prompt reply. Now I am interested in https://www.genesis-mining.com because of there lifetime mining contracts. Can you please help me in understanding their license agreement ?

Quote

a. 0.260 USD per GH/s upfront
b. USD 0.00055 per GH/s and day, deducted on a daily basis* from the generated Coins

Is the meaning of the first line that when you earn 0.26 USD worth of BTC you have to pay them ? Or do you have to pay extra 0.26 after purchase ? The particular plan that I am interested in costs $96, so does this mean I have to pay $0.26 extra ?

Now whats really confusing is the second line-:

I have to pay 0.00055 USD for each GH/s meaning each time a GH is done it will cost me 0.00055 USD right ? If that is true then each day has 86400 seconds then for each day I have to pay

86400*0.00055 = 47.52 USD ?

Since each day has 86400 seconds thus 86400 100 GH/s will be generated.

Am I right in my assumption ?

No, not at all. Every day you will have to pay 0,000555*100=0,05$ for electricity. The up-front thing is the price of buy I think. However, I don't recommend you to buy these mining contracts, because you will never profit, maybe never reimburse your initial purchase.

So what do you recommend for bitcoin mining ? Manual mining ? What's the best way to earn BTC ?

manual mining is a joke, if you can afford to invest a big amount and have cheap electricity go directly for bitcoin mining

otherwise there are altcoin, that are profitable, or simply buy altcoin that have at least a future