Ethereum Mining Guide: 2018 Edition
The following article was originally published on Reliablecoins website . Mining Ethereum is sorting through data blocks from peer distributed cryptocurrency networks to find information that can be used to solve challenging math problems. Successful Ethereum miners can earn crypotocurrency in in exchange for their work. Ethereum mining requires a lot of intensive computation work, time and lots of processing power. Ethereum is a platform with several applications that are helpful for users trying to do a variety of everyday tasks very simply. Results generated through digital mining is referred to as proof of work system. The process of getting cryptocurrency tokens of Ethereum from blockchain networks requires having computers programmed to run a hashing algorithm non-stop. The hashing algorithm condenses a large amount of information into fixed length string of numbers and letters. Ethash, the hashing algorithm employed by Ethereum, hashes metadata drawn from the most recently available using a nonce. This binary number is able to create a unique hash value. With every new block contained in the blockchain, a new target hash value is set by the network. All miners on that network attempt to guess which nonce will result in the desired value. The miner that discovers the right nonce is awarded the block and receives 5 ether. The process begins again following a cycle which occurs about every 12 seconds. Ethereum Mining Rigs:Dedicated machines can mine ethereum much faster than average computers, but youll need a little bit of help building an efficient mining workhorse like this one. For people interested in doing this type of mining, it is important to get an Ethereum mining how to guide that will walk through every possible step, explain the process in detail and m Continue reading >>
Is It Worth Mining Ethereum In 2018? How Much Can You Make Mining Ethereum? (eth News Today)
Is it worth mining Ethereum in 2018? How much can you make mining Ethereum? (ETH News Today) When it comes to mining of any cryptocurrency, it is important to look into the cost of the cryptocurrency. Once you are able to look at the cost, you would realize whether mining it would be profitable or not. In the last 12 months, cryptocurrency Ethereum has increased by 20 times. Therefore, you might think that it would be worth mining. The truth is that you have to look into the cost and thereafter take a call. Ethereum mining involves verifying the Ethereum transactions in order to earn the cryptocurrency. You need to understand that you are basically lending the processing power of your mining rig in order to verify the transactions. As a set number of transactions are verified, you would be able to earn the cryptocurrency. Factors on which the mining of Ethereum depends: There are a few factors which you have to look into while starting the mining operation. Only once you are having the right hardware, you would be able to mine Ethereum profitably. Hash rate is the rate at which a mathematical problem is solved in order to verify the transaction. The higher the hash rate, the better would be the Ethereum mining capability. Ethereum network has been designed in such a way that in any particular instant of time, there can only be a few coins which can be mined. Therefore, the hash rate would keep on increasing and the difficulty level would keep on increasing as well as more miners join the fray. You have to look at the cost of electricity consumption before deciding whether Ethereum mining can be affordable for you or not. In many of the cases, the amount of electricity which is consumed is significantly higher which makes Ethereum mining unprofitable. SEE ALSO: NEM Pric Continue reading >>
Is Gpu Mining Still Profitable In 2018?
Answered Jan 10, 2018 Author has 176 answers and 248.1k answer views Bottom line no, however other crypto currencies may be possible. The best way to do that is to research the top cryptos for 2018. However, to see the scale and velocity of change in the mining of bitcoin for example you can see how a simple hobby to mine bitcoins has now turned into utilising a large commerical mining center to generate coins. For many, Bitmain's recent announcement of the closure of a severe data center in northwest China served as a reminder of the scale of mining centralization in Bitcoin . Although the corporate usually based on national capital will not own the full complicated, and the whole facility will not be essentially devoted to the mining Bitcoin, theoretically more than half of all hash force with which the Bitcoin network can be concentrated in a extremely single data center. For some, this may be cause for concern. If one or perhaps many data centers dominate Bitcoin mining, these can represent a goal of failure. Bitcoin's future may also depend on a reversal of the trend towards more centralization. In addition, there is reason to believe the trend would indeed decline. In the first year of Bitcoin's existence, there was little difference between running a node and mining. The standard Bitcoin wallet Qt allowed regular users to take a position reserve central processing unit power to undertake and earn some coins. By the top of that year, the first had been insisted that GPUs could be more practical. In response, Bitcoin's discoverer asked users to refrain from doing this. "If everyone bought faster machines, they would not get more coins than before." We always need a gentleman's agreement as long as we are able to set up the GPU race for the major of the network. "I Continue reading >>
Why Ethereum's Price Is Still A Boon For Nvidia And Amd | Fortune
The recent drop in Ethereum prices may have hurt quite a few investors betting on the rise of cryptocurrencybut the digital coin is still a boon to investors of semiconductor stocks Nvidia (nvda) and Advanced Micro Devices (AMD). Thats based on a Tuesday note from Morgan Stanley analysts led by Joseph Moore, who say that Ethereum prices have remained high overallup about 8,900% over the past yearmaking Ethereum mining more profitable. In turn, that profitability has driven consumers to snap up graphics processing units (GPUs) used to mine, or acquire new cryptocurrencies, from major suppliers such as AMD and Nvidia. The profitability of mining Ethereum has risen over 200% since October, wrote Moore, despite falling below $1,000 earlier this week. According to Morgan Stanley estimates, miners today earn roughly $1.76 each day in profits per each GPU owned. Thats up from 56 cents in October. Those figures assume the miner owns an AMD Radeon 580 and pays roughly 70 cents per day for each GPUs electricity. Computing power dedicated to Ethereum mining rose by 2,200 terahash per minute in the third quarter to 3,672 terahash per minute in the fourth quarter, the bank said. Based on the continued profitability of Ethereum mining and the increase in computing power dedicated to it, Morgan Stanley boosted its fourth quarter 2017 sales estimates for both AMD and Nvidia. The increase in demand for GPUs for Bitcoin or cryptocurrency mining already helped boost sales for Nvidia and AMD in 2017. The bank said it expects AMD (amd) to post revenues of $1.55 billion in the fourth quarter of 2017 and $1.43 billion in the first quarter of 2018, each up $100 million from the banks previous estimates. Morgan Stanley also said it expects Nvidias revenues to come in at $2.81 billion for the f Continue reading >>
The Real Cost Of Mining Ethereum
Image Credit: Vitaliy Karimov/Shutterstock Just how profitable is it to mine Ethereum? To properly answer this question, lets start at the beginning: Lets construct a hypothetical mining rig, plug in some reasonable numbers, and come up with a pragmatic analysis of how much you can earn through Ethereum mining. Lets also hold the price of Ethereum static. By removing any profitability from the appreciation of Ethereum from the equation, well be able to correlate the actual rates of return exclusively with hardware, electricity, and any other costs associated with running a mining rig. Our assumption set uses numbers from January of 2018 that you can see below (we have done our best to use reasonable and middle-ground numbers): As you can see here, our hypothetical mining rig is more efficient and profitable than some of the best mining equipment on the market right now. We are assuming four GPUs that mine 40 MH/s each. The hardware specs are four GPUs, plus a processor, a motherboard, and a power supply rated at 1,000 Watts of electricity. The cost of this rig would be approximately $3,000. A reasonable cost of power is approximately 10 cents per kwh. This is below the national average for retail power rates in the U.S. To run a mining rig you will likely pay at least 10 cents per 1,000 watts run for each hour. This means one full day of mining comes with an electricity cost of $2.40. We will also use the block reward and block difficulty from January of 2018 as our base point. And we assume mining with a single rig is only reasonable when working with a mining pool. Some mining pools take up to 10 percent of your earnings, but some of the best only take 1 percent. For that reason, weve pick a modest 1.5 percent. Taking several points across Etherescans historical char Continue reading >>
Best Ethereum Mining Hardware (2018 Updated)
Last updated on February 26th, 2018 at 04:04 pm Ethereum (ETH) is a popular choice for graphics card (GPU) miners. In 2018, Ethereum smashed its long-term $400 ceiling, and reached more than $1,000. Ethereums Ethash algorithm is one of many algorithms designed for optimal mining on GPUs. Generally speaking, a GPU is good for mining all GPU-mineable cryptocurrency (including Ethereum Classic , Monero , Zcash , and Vertcoin). This situation gives GPU miners enviable flexibility, in order to be able to switch between over 40 coins that are based on their current profitability. If youre new to mining Ethereum , there are 4 important things you should know: Ethereum intends to switch to a Proof of Stake scheme called Casper. Although this switch has been delayed, its reasonable to expect that it will occur in late 2018. Ethereum mining will no longer be possible after that, unless a hybrid Proof of Work/Proof of Stake model is implemented. If so, rewards to miners will be significantly reduced, with perhaps half of all new coin rewards going to holders instead. Ethereum mining currently requires a GPU with at least 3 gigabytes of Video RAM (VRAM). This VRAM requirement is expected to grow to 4 gigs in 2018. The Ethereum Directed Acyclic Graph (DAG) file is stored in VRAM by miners. The DAG grows in size by remaining proportionate to the mining difficulty. About once every epoch (or 30,000 Ethereum blocks), a new DAG is generated, which must be downloaded in order to continue mining. You can view the current epoch and other Ethereum network stats here . (At the time of this writing, the epoch was 162.) Note that the performance of older cards will degrade with each new epoch. Up to a point, more VRAM will also improve performance. The present difference between a 4- and 8-gi Continue reading >>
Mining Prospects In 2018 Decenter
With attention to cryptocurrency growth, the demand for mining equipment has increased as well. A few years ago everyone who had access to enough powerful computer could become a miner, while over the past year the situation has changed drastically and previous methods of mining have already become ineffective. We have predicted what mining trends would be the most popular in 2018. Today quite expensive equipment is needed for mining, in particular, graphics cards. Last June Chinese online trading platform AliExpress reported that its users began to look more actively for specific models of graphics cards that were most suitable for creating mining farms. The most popular models among Russian miners are Nvidia graphics cardsGeForce GTX 1060 and GTX 1070, as well as Radeon RX480, manufactured by Advanced Micro Devices (AMD). With these models being popular not only among Russian miners, past year marked the AMD's shares rising by 64%, while the value of Nvidia Corporation securities gained almost 88% since the beginning of 2017. Experts say that the growth is attributed to an increased number of miners of in the Ethereum network and other popular cryptocurrencies. Nvidia published data that illustrates 6.7% of revenue for the second quarter of 2017 was received from graphics cards sales, which were used for crypto mining. That is why these two companies and ASUS company have already begun to issue unique graphics cards designed for cryptocurrency mining. Also, last summer we knew that AMD was working on 7nm 48 core processor called Starship that would be released in 2018. Experts, however, warn mining equipment manufacturers that demand for their products is going to shrink. According to Joseph Moore , an analyst at American bank holding company Morgan Stanley, mining m Continue reading >>
Ethereum Mining Profitability In 2018
After Bitcoin, Ethereum is the second most popular digital currency in terms of value. With the popularity and increasing value of Ethereum, it is quite clear that Ethereum mining is a trending topic. Before investing in Ethereum mining GPU or mining rig, it is advisable to know how profitable is to mine Ethereum in 2018. Yes, it is profitable. The cryptocurrency can be easily mined with powerful GPUs. Above all, the price of Ethereum is increasing continuously. Therefore, it is profitable to mine Ethereum in 2018. Ethereum has much similarities to Bitcoin , except the two main differences, namely its shift to Proof-of-Stake and Smart Contracts. The coding language of Ethereum helps programmers or developers to prepare smart contracts or programmable money. It is the revolutionary feature in cryptocurrencies and predicts a bright future of digital currencies. By making use of Proof-of-Stake, your wallet/computer stakes the coins possessed by you. For instance, if network has around 1,000 coins and you are staking 100 coins, then you will have 10 percent of coins that are being staked. That means, you will get 10% mining rewards from the Ethereum network. Instead of solving cryptographic problems to get coins, you stake the coins in this method. However, make sure that you verify or confirm the correct transactions. In case, you confirm the wrong one or try to forge a transaction or transactions, then you will surely lose your staked coins in the network. The best part of Proof of Stake mining is it doesnt make use of energy. In this mining method, you lock your coins that makes it secure and you also get to know who get the rewards. There is no need to spend money on electricity or hardware. In order to get mining rewards, all you need to do is own coins before. Basica Continue reading >>
3 Reasons Why Ethereum Mining Is Profitable In 2017
The answer is yes. Ethereum can be mined with power efficient GPUs. On top of this, the value of Ethereum is steadily on the rise. Both of these factors are fantastic reasons to mine Ethereum. This is the projected mining profitability of the Radeon R9 295 X2 . As you can see, youll make over $800 USD annually per card. This means youll break even in less than a year and generate passive income. Since the price of Ethereum is steadily rising, your profit margin will increase even more. Ethereum is similar to Bitcoin, yet it has two key differences that have been crucial for its success: Smart Contracts and the shift to proof of stake . Unlike Bitcoin, the coding language used for Ethereum makes it much easier for programmers to develop programmable money, or Smart Contracts. This is revolutionary in the world of cryptocurrencies and opens many doors for the future. Ethereums second key difference from Bitcoin is its shift from proof of work to proof of stake. Before you can understand proof of stake, you must understand proof of work. Blockchain technology was created in 2009 when Bitcoin was released. In essence, a blockchain is a database. In the world of cryptocurrencies, the blockchain is a database of transactions. If someone tries to initiate an invalid transaction, the blockchains code will determine that its invalid and it will reject the transaction. If someone were to say they mine Bitcoin, Ethereum, Litecoin, etc. it means they are setting their computer to solve the cryptocurrencys algorithm. The computers adding the transactions to the blockchain are executing extremely difficult tasks. Its basically a guess and check system in which your computer is constantly checking the code until it finds the solution. This is all to prove a valid transaction on a blo Continue reading >>
Best Mining Rig 2018: The Top Pre-built Mining Rigs For Bitcoin, Ethereum And More
Best mining rig 2018: the top pre-built mining rigs for Bitcoin, Ethereum and more Best mining rig 2018: the top pre-built mining rigs for Bitcoin, Ethereum and more Buy a mining rig to get earning cryptocurrencies ASAP With the prices of graphics cards rising due to the cryptocurrency gold rush, it's now more sensible to buy a pre-built device for mining cryptocurrencies, which is where our best mining rig 2018 list comes in. Unlike the best mining desktop PCs , which can be used for other day-to-day tasks as normal PCs, mining rigs are specially-designed for one purpose only: to efficiently and effectively mine cryptocurrencies such as Bitcoin . This means you won't be able to use a mining rig for other tasks, but it does mean you'll be getting the very best mining results thanks to the best mining rigs being designed to eke out the maximum return when running. Graphics cards: 6 x Nvidia GTX 1070 8GB | Warranty: 90 days Shark Mining is a well-regarded company that makes some excellent pre-built mining rigs. Its Shark Mini is a compact rig that comes with four GPUs. The base model comes with GTX 1070 GPUs, but your can configure it to have a 1070 Ti GPU, which could net you an extra 10% profit, and you can also add a touchscreen display for keeping an eye on the rig. Shark Mining estimates a profit of $600 a month if you mine ZCash or Bitcoin, and up to $400 a month with Ethereum, though of course that could change. Graphics cards: 6 x Nvidia GTX 1060 6GB | Warranty: Default factory warranty The Bitcoin Gold GPU Miner 2000 H/s from Ethereumminer.eu is a pre-built mining rig that offers the potential of a pretty excellent profit. While values may fluctuate, you could see this rig paying for itself after not long at all. Especially as it has recently had a price cut - s Continue reading >>
$200 A Day Mining Ethereum Or Etc?
How do we start mining ETH or ETC with our own equipment at home today? Will you read this post because it shows how easy it is to get started mining with a small investment in equipment and the willingness to learn how to set everything up and explains what steps are needed to decide if investing in the time and equipment for mining? With the Ethereum price over $300 today and the Ethereum Classic price at $20, the opportunity to mine Ether is now extremely profitable! Even as Ethereum prepares to go to a Proof of Stake model at the end of 2017 or beginning of 2018 which will greatly reduce the possibility of making a profit mining, any mining rig built to mine Ethereum could easily be switched to start mining ETC or another coin after the switch with a huge potential to profit before! In this post or the matching video on YouTube below, see an introduction to what research and purchases are necessary to begin. While I thought mining any cryptocurrency was too technical for me, I now see getting started on a small scale is relatively straightforward with scaling up possible with confirmation the initial system is working. The GREAT NEWS is that making a very basic and functional mining computer system can be done for less than $1,000! Once we verify it works, the motivation will come to scale up the system into one that easily can produce $200+ a day in profit with current Ethereum and ETC prices as explained in the YouTube video from today below along with in more detail in text below that. In summary, using a new or used Windows or Linux machine to begin just for mining seems ideal because this will be the only need and function of the computer. For a few hundred dollars, buying a new machine to just do mining is the most basic starting point. Next, buying a small a Continue reading >>
Genesis Mining Profitability (february 2018)
Genesis Mining Profitability (February 2018) This guide gives the current profitability of all available cloud mining contracts on Genesis Mining on 9th February 2018. To compare contracts equally, we scale hashpower down to a $30 initial investment. Calculations are made using our cloud mining calculator: www.anythingcrypto.com/cloud-mining-calculators/medium We did a similar comparison for HashFlare here . Currently Genesis are out of stock on Bitcoin, Dash, Litecoin and Monero mining contracts; so in this guide we compare their Ethereum and ZCash contracts. Both are pre-orders that would start on 30th April 2018 (this delayed start is included in our calculations). Before buying a Genesis Mining contract there are a few things to be aware of: Ethereum may move to proof-of-stake in the future. If this happens and you own an Ethereum mining contract you'll likely have to change to a different coin using the same algorithm (Ethereum Classic for example). Genesis Mining has a reputation for inconsistent payouts, where sometimes you might not get paid for several months (with many people claiming they've never been paid). Profitability of a $30 investment in each of Genesis Mining's contracts: Ethereum (current price $848) NOT PROFITABLE Optimistic: $0.22 per week, $23 after 2 years Skeptical: $0.04 per week, $4 after 2 years Continue reading >>
Is Ethereum Mining Profitable In 2018?
In this article we will try to figure out the profitability of Ethereum mining As the price of Ethereum isaround $1000 you may be wondering to yourself whether its worthwhile to mine ETH. Like Bitcoin, Ethereum is a proof-of-work coin that uses miners to confirm network transactions. The profitability of mining varies from person to person and changes over time usually becoming less profitable as the coin matures. In this article we will try to figure out the profitability of Ethereum mining. There are three important factors to consider: In a word, your mining rig needs to solve a mathematical algorithm to mine Ethereum. The mining difficulty of the network is a measurement of how difficult this algorithm is to solve. The higher the difficulty, the less Ethereum you receive for each unit of energy the GPU on your mining rig expends. As more miners join the network the difficulty increases. The Ethereum mining difficulty had been steadily increasing since the beginning of December with 1,500TH to ~2,500H. EtherscanEthereum Block Difficulty Growth Chart The daily block rewards of ETH have hardly changed since December and it is currently ~20.339 ETH. The hashrate is the speed in which your mining rig can solve the mathematical algorithm needed to validate a transaction. Miners with a high hashrate usually come with a high price tag, but they also typically use more electricity as they operate which could further drive your costs up. Average hashrate of ethereum network has increased since December from ~125492GH/s to ~203394GH/s, which is the highest rate of all time at the moment. Etherscan Ethereum Network HashRate Growth Rate Each mining rig works at a different level of efficiency and uses a variable amount of electricity. On the low end, miners typically draw ~100 Continue reading >>
Will Mining Be Profitable In 2018?
Answered Dec 14, 2017 Author has 1.1k answers and 2.4m answer views If you will be mining new coins that are not famous and WILL BE FAMOUS AND EXPENSIVE later - yes. I was mining 5$ worth of ETH a day while my friends were making more mining BTC on their ASICS. But now.. These 5$ worth of ETC equal 4000$ a day. I will take that. Same with GRS. Since it appeared I was mining almost thousand a day with almost all my graphic cards. Now its worth 1.20$. Feels great! 932 Views View Upvoters Answer requested by Answered Feb 20, 2018 Author has 438 answers and 172k answer views Mining automation also known as automated mining removes humans from hazardous mining process. Mining automation automates the mining process for both surface and underground mining operation. Through mining automation it is possible to run underground mines 27/7 which increase productivity while reducing cost. Mining automation also improves workers safety. Download PDF Brochure For More Information about Latest Mining Automation Industry Size, Share & Revenue & Forecast For 2018 PARC is the largest research and development program in robotics technology in the world. SPARC program has received of ~US$ 823 (1Euro=US$ 1.18) Million funding from European Community for 2014-2020 and three times that fund from European industry (~US$ 2.5 Billion) for a total investment of ~US$ 3.3 Billion. Mining automation including autonomous underground mining is one of key focus areas of the SPARC program. This is driving the mining automation market in Europe. Continue reading >>
To Mine Or Buy Ethereum/zcash/monero In 2018
To Mine or Buy Ethereum/Zcash/Monero in 2018 Share on Facebook Share Share on Twitter Tweet Share Share Since the beginning of the second half of 2017, I call myself a proud crypto investor- currently investing in the 4 major cryptocurrencies - bitcoin, ethreum, litecoin and ripple. Starting July 2017,using dollar cost averaging I keep buying crypto coins once in the month. So far, the total crypto portfolio shows an awesome 132.98% year to date value growth. A couple of days ago I decided to give it a try and set up a 12 GPU ethreuem mining rig , for that I headed to Amazon.com and ordered goodies (motherboard, graphics card, risers, processor and so on) Now, in total, I spent $960 for a bare minimum, just one GPU, which I'm planning to extend during 2018, by adding a new card once in the month. I decided to compare/forecast/predict - should I rather had invested $960 directly purchasing ethereum, zcash or monero, instead of building a mining rig. From money invested in mining rig ($960), I could buy 2.03ETH. By knowing approximate hashingpower (22.5MH/s) and electric costs ($0.08) I calculated how much I could earn with just 1 GPUin one year. The result is not at all impressive - just 1.23 ETH. Apparently, if you are deciding to invest in mining rig - one GPUmight be too short to get back your investment in a foreseen future. As I'm planning to run a full 12 GPUEthreum mining rig, the cost for it would be, if all parts bought at once - $3,880.93. Let's see how much ETH a 12 GPUmining rig could theoretically produce in a year: 14.73 ETH - Now, that already seems as a nice result. If convertedback to the USD using today's ETH pricing (which is wrong, as we have no clue what will be the price for ETH at the end of 2018) we could get $6959.33, or profit at $3,079. Nice. Continue reading >>