10 Practical Mining Gadgets, Which Ones Hit Your Collection Desire?

I think it is a good idea to share these useful tools with everyone. Today we will introduce some useful tools or websites for querying the following information.

1. Static payback period of mining machine

2. Shutdown coin price

3. Theoretical daily output per unit computing power

4. Prediction of difficulty changes in the next difficulty cycle

5. Current best transaction fee

7. 60-day cumulative increase

8. Number of active addresses

9. Long-term coin hoarding addresses and high-frequency transaction addresses

9. Rich List

10. Number of transactions to be confirmed...

Next, I will introduce the corresponding query tools in the order above.

1. Static payback period of mining machine

There are many websites that calculate the static payback period of mining machines, such as BTC.com and BTC.com. Here we use BTC.com as an example.

wabi.com/mining-income/bitcoin-calculator.html

As shown in the above figure, the price of the mining machine is 19,200 yuan/unit, and the electricity fee is calculated at 0.38 yuan/kWh. The current static payback period of Ant S19 is 376 days.

You can also select other currencies on this page, such as Ethereum, etc. For example, calculate the payback period of the Sapphire 5600xt 8-card machine.

wabi.com/mining-income/ethereum-calculator.html

It should be noted that the static payback period of a mining machine is calculated based on the assumption that the future mining difficulty, coin price, basic mining rewards, miner fees for packaged transactions, electricity costs, etc. remain unchanged and the mining machine continues to run at full computing power. In fact, these factors are changing almost all the time, so when making investment decisions, the static payback period cannot be regarded as the actual payback period of the mining machine. It is more appropriate to use it as a reference indicator when making decisions.

2. Shutdown coin price

The shutdown coin price is also an indicator that miners pay close attention to. The shutdown coin price represents the safety margin of the mining machine. This indicator can be checked through the Mining Coin Network mobile APP.

Open the Mining APP, click on the "Calculator" in the lower right corner, select the mining currency at the top, enter the mining machine's computing power, power data and electricity price in the blue box, and you can calculate the shutdown coin price.

The left side of the picture below calculates the shutdown coin price of S19 PRO; the right side calculates the shutdown coin of Sapphire 5600XT 8-card machine.

Mining APP

Some explanations are needed about the shutdown coin price:

The shutdown price of a mining machine (safety margin) essentially depends on two factors: electricity price and energy efficiency ratio (power divided by computing power). The lower the electricity price and the lower the energy efficiency ratio, the lower the shutdown price of the mining machine. In an extreme case, if the electricity price is free, the mining machine can be left on forever.

The shutdown coin price is only a reference. For mining machines with low safety margins, such as S9 and S11, it has greater reference significance. For machines with high safety margins, such as S19 and M30S++, these machines have machines with low safety margins as buffers, so the calculated shutdown coin price is very inaccurate and has low reference value.

3. Theoretical daily output per unit computing power

The page for calculating the static payback period of mining machines introduced above can be used to check the average daily theoretical output of computing power per unit of various currencies.

wabi.com/mining-income/bitcoin-calculator.html

The value in the red box in the above picture is the theoretical output of BTC for 1T computing power in 24 hours. This is the theoretical output of the FPPS model, which includes the part where miners package transactions.

The mining website can also check the theoretical output of unit computing power of dozens of mining coins such as BCH, LTC, ETH, ETC, ZEC, etc., as shown in the figure below.

The BTC.com website can also easily query the theoretical daily output of unit computing power of the two currencies BTC and BCH, and can also check the theoretical output under the PPS (basic reward) and FPPS (basic reward + mining fee) distribution modes.

https://btc.com

4. Prediction of difficulty changes in the next difficulty cycle

Still on the BTC.com page, you can also check the predicted next difficulty and the magnitude of change relative to the current difficulty, as well as the time until the next difficulty adjustment.

https://btc.com

5. Current best transaction fee

Also on this page, you can check the current best transaction fee. The best transaction fee means that it is fast and economical, and the transaction fee paid is "just" enough to allow the transaction to be packaged in the next (or the next) block.

https://btc.com

How is the current best fee calculated? The person in charge of BTC.com said that there is an algorithm behind it. Simply put, the current best fee is calculated in real time based on the average transaction fee of the last few blocks and the transactions in the pending transaction pool (transactions waiting to be packaged). Transactions paid at the current best fee of BTC.com will be packaged and confirmed in the last 1 to 2 blocks.

There is also a useful tool for Ethereum transaction fees: Gasnow.

https://gasnow.sparkpool.com

Gasnow does not predict the future based on historical data, but predicts the Gas Price based on the Gas Price distribution of transactions in the current transaction pool of the Spark Mining Pool node. The advantage of this is that the mining fee given is more accurate and more meaningful. As for how users should understand the four numbers of extreme speed, high speed, normal speed, and slow speed, Uncle Gasnow explained:

The upper limit of the Gas Limit for each block is 12.5 million. Different types of transactions require different amounts of Gas. Ordinary ETH transfers require 21,000 Gas, and complex contract transactions may require millions of Gas. Therefore, the actual number of transactions packaged in each block varies, ranging from a minimum of dozens or even a few transactions to a maximum of more than 600 transactions (12.5 million/21,000).

The calculation method of GasNow is to first list all 2000 transactions in the queue to be packaged (tx1, tx2, tx3, tx4, ... txn ... tx2000), and then sort them from high to low according to the Gas price. The next block can package N transactions (tx1, tx2, tx3, tx4 ... txn), and note that N here is uncertain.

On this basis, we calculated these four numbers, which have the following meanings: "Extreme" mode represents the Gas price of the median transaction (tx1, tx2, tx3, tx4... txn); "High speed" is the Gas price of txn; "Normal" is the Gas price of the max (tx2n, 500)th transaction; "Slow" is the Gas price of the max (tx5n, 1000)th transaction. If the next block can pack 300 transactions, that is, n=300, then "Normal" means the Gas price of the 600th transaction, and "Slow" means the Gas price of the 1500th transaction.

Currently, wallets such as imToken, MYKEY, MathWallet, and TokenPocket have supported the Gasnow function. When using these wallets to initiate a transfer, there are four types of fees to choose from. The following is an example of an imToken wallet.

6. 60-day cumulative increase

The 60-day cumulative increase is the "increase bubble index" designed by General Jiang, which is obtained by adding up the daily increases in the past 60 days.

The logic of this indicator is: the bear market is created by the bull market. The rise in the price of coins needs continuous support from new entrants and new funds. New funds generally flow in steadily as news and the bull market's wealth-making effect spread. However, if the market is fanatical to a certain extent, the existing users in the market will exhaust all their funds and even add leverage investment. Then the price will rise sharply in the short term, and the speed will exceed the speed of new funds entering the market. New funds cannot support the price that rises too quickly, and the price of coins will eventually collapse at a very high position with huge potential energy, ending the bull market and starting the bear market.

Now, this index is easily available on QKL123. In addition to BTC, it also includes the cumulative growth of ETH and BCH. There are also 7-day, 30-day, 60-day, and 90-day indexes for reference.

www.qkl123.com/data/acc_increase/btc

7. Number of active addresses

The three bubble indexes designed by Mr. Jiang also include the "user bubble index", which is calculated by dividing the "total market value" by the square root of the "number of active Bitcoin addresses". The underlying logic of this index is Metcalfe's law, which states that the value of a network is proportional to the square of the number of connected users. In this model, if the price of a currency continues to rise, but the number of users does not keep up for a long time, according to Metcalfe's law, the value of such a network is not supported by actual users, and a bubble will appear.

On bitinfocharts.com, you can check the changing trends of the number of active addresses of mainstream currencies such as BTC, ETH, and BCH.

Number of active addresses for BTC and BCH

bitinfocharts.com/comparison/activeaddresses-btc-eth.html

8. Long-term coin hoarding addresses and high-frequency transaction addresses

Are you a long-term coin hodler or a short-term speculator? Want to know how many people have the same style as you? Blockchain.com provides this data. It divides all addresses into three categories: long-term holders, medium-frequency investors, and high-frequency investors according to the holding period of more than 1 year, 1 month to 12 months, and less than 1 month. As of now, the proportion of these three types of BTC addresses is as follows:

blockchain.com/explorer?view=btc

The proportion of long-term BTC holders is 65.05%, which is higher than what Kuang Kuang expected. This function also supports ETH and BCH. If you want to know the proportion of their three types of investors, open the website and take a look.

9. Rich List

I will introduce some interesting tools below.

Which address has the most Bitcoins? Which addresses are exchanges in the rich list? Tokenview.com can satisfy your curiosity.

tokenview.com/cn/topaccount/btc

The first place on the Bitcoin rich list is the cold wallet address of Huobi Exchange, which stores more than 140,000 Bitcoins, with a current value of more than $2.1 billion; the fourth place on the rich list is the cold wallet address of Binance. This website can also query the rich lists of dozens of cryptocurrencies such as ETH and BCH.

10. Query tool for the number of pending transaction pools

The number of pending transactions refers to the transactions that have been initiated and are waiting for miners to pack into new blocks. The pending transactions are an indicator of the activity and congestion on the chain. Kuangkuang introduced that this is mainly a very interesting tool that can intuitively see the transaction status of BTC, ETH, and BCH chains, including the current number of pending transactions, block height, median handling fee, etc., and simulates the actual transactions on the chain into an animation effect of people taking public transportation. It is strongly recommended to open the website to experience it.

https://txstreet.com/v/btc-eth

There are many similar practical and interesting tools. It is not an exaggeration to say that they are too numerous to mention. This time, I will share the above 10 tools with you.