How To: Calculate Mining Profits 2017/18
If youve ever heard of cryptocurrencies, youve probably heard of mining. The sole reason most cryptocurrencies can function is due to mining. Without miners, the blockchain cant be validated every time someone wants to make a transaction. If the blockchain doesnt get validated, there is simply no way to know which transaction is legitimate and which is not. Becoming a miner doesnt come without reward, however. There are two things which your reward is based off of. For example, whenever you decide to send some Bitcoin, Ether, or whatever other currency youre using, youve probably noticed the added fee, which can either be listed as a transaction or a mining fee depending on your wallet. This fee gets tacked on to whichever miner cracks the code and completes the block. Though this reward is quite minuscule, the real treat is the block reward, which for Bitcoin is 12.5 Bitcoin equal to an astounding $48,314 USD! One of the benefits in investing a couple hundred, or a thousand into a mining computer instead of into the currency you are eventually going to mine, is the fact that in the very unlikely event that the headline in the morning is United Nations Ban All Forms Of Digital Currencies,you can still sell your mining computer. At a loss nonetheless, but its still better than nothing. However, if you invested that amount into a currency instead, that currency will most likely be worth nothing. Although there still is the chance that the currency goes up by 100% overnight, leaving you in the dust with a mere mining rig. Another benefit is that in case the currency you are mining drops in value, you can easily swap to another coin and regain your profits that way. Take Ethereum for example. One year ago and with a small mining operation, it was very easy to mine 1 or 2 E Continue reading >>
Ethereum Solo Mininig
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. i have 3 rigs with hashing power of 330 mh do u think i might have good luck solo mining or stick with pool? If you want steady income, use a pool. The hash rate is too low. I am at 650mh and I have been wandering the same thing, can anyone enlighten on what hashrate you should switch to solo mining. I have read a few month old forums saying over 100 was ok and I found one more recent post about anything under 5gh is not worth it. Would like to know from the big guys a good number to start looking to solo mine The difficulty is so high right now that it would take forever (In theory) of finding a block. You are welcome to try your luck but solo mining can get scary when your rigs are running but no coins are being produced for a long period of time. Quote from: bughatti on April 19, 2017, 01:40:07 AM I am at 650mh and I have been wandering the same thing, can anyone enlighten on what hashrate you should switch to solo mining. I have read a few month old forums saying over 100 was ok and I found one more recent post about anything under 5gh is not worth it. Would like to know from the big guys a good number to start looking to solo mine 500mh to 2gh, use ethpool because they will pay you the full reward for uncles. 2ghz+ you can try solo mining, but most solo miners are 50+ systems. The BEST Crypto exchange in India, where you can buy/sell/trade Bitcoin, BitcoinCash, Litecoin, Ethereum and Ripple, and use a credit card With that hashrate you will find maybe 1 block a week. Quote from: bughatti on April 19, 2017, 01:40:07 AM I am at 650mh and I have been wandering the same thing, can anyone enlighten on what hashrate you should switc Continue reading >>
Best Method To Mine Virtualcurrency In 2017: Bitcoin, Zcash, Litecoin, Ethereum
Best method to mine virtualcurrency in 2017: bitcoin, zcash, litecoin, ethereum When buying mining hardware became profitless for normal people, it started to appear a lot of websites that sold infinite mining contracts or for a period of time.If you do the proper math on those contracts, you will find that you will lose money and the best option is just to buy bitcoin (even if the price raises).So those "mining contracts" are in most of the cases a scam, even if they own the mining hardware. Today after several research we found a great idea, which is called nicehash . This website is not a mining contract, it actually connects the miner and the people that needs hash power.They provide a platform where buyers of hash can place a bid for certain amount of hashing power. Several people is doing SOLO mining while buying a lot of hash power to increase the chance of obtain the block solution. Nicehash can be very lucrative when you need a lot of hash power in short period of time and it can cost little money. We were doing some test from both sides, buying and selling hash power and the site is real. We also made several houndred dollars buying hashing power for certain moments where mining is the right thing to do. Here is the result of our mining rigs with 4 gpus, two rx 470 and two hd7950: Continue reading >>
Gpu Mining? - Cryptocurrencies - Level1techs Forums
Thanks. Just downloaded the latest Claymore miner, and says its an Eth and Decred miner. I was considering mining Decred so that's cool. Might do that instead of Eth. :0 This miner is free-to-use, however, current developer fee is 1% for Ethereum-only mining mode (-mode 1) and 2% for dual mining mode (-mode 0), every hour the miner mines for 36 or 72 seconds for developer. Claymore's combined miner is for ETH+xxx if you want to mine SIA or Decred etc. there may be better dedicated tools. Claymore has posted that in the forum thread before. Mining right now on GPUs are a very good idea to do, I could make a thread on how to set up Claymore's dual miner if there is demand. Today after seeing article after article about mining for Ethereum on Facebook decided I would start today. The thing is though the software I thought I was to use has AMD in the file name for the program. Is Geth able to be used with Windows 7 64 bit and Nvidia cards? Also is there a mining for dummies piece of software to use for mining Ethereum? The simpler the better for me. The simplest way to mine ethereum well with is probably to get a POLONIEX account to use as a wallet, (Plus you can trade different coins and also sell your bitcoin for tethered USD coins if you don't want to risk having the value go down over time). Using a miner like claymore is pretty simple, all you really need to do is do is edit some bat file with notepad to configure it. The simplest way to mine ethereum well with is probably to get a POLONIEX account to use as a wallet, (Plus you can trade different coins and also sell your bitcoin for tethered USD coins if you don't want to risk having the value go down over time). Using a miner like claymore is pretty simple, all you really need to do is do is edit some bat file with Continue reading >>
Is It Worth It To Start Mining Ethereum? [june 2017]
Is it worth it to start mining Ethereum? [June 2017] Is it worth it to start mining Ethereum? [June 2017] Thats the constantly-repeated question in the mining community when a coin is starting to become profitable. Ethereum this year, for example, saw a big jump in price, which led lots of people who would have otherwise not thought twice about cryptocurrency to become suddenly interested. When this happens, though, most of the biggest profits (at least for that bubble) have already been made. People had been mining the coin for months or years prior, and they certainly saw some decent gains, especially if they had a decently-sized holding. For many, their entire wallet of Ether jumped 10x or 20x its value. So back to the question: Is it worth it to start mining? If youre just now hearing about Ethereum and interested in maybe jumping on board, that can be a hard question, and it depends on a lot of different factors. Difficulty is slowly but steadily rising , thats undeniable.Heres the current chart from Coinwarz: For those unfamiliar with how mining works, this is basically the rate at which you will see rewards for the amount of energy your GPU puts into mining the coin. The same amount of energy (or time the GPU is running, in this case) put in a couple months ago would have given the miner far more return than today. As we go into June 2017, Ethereums difficulty is reaching all-new highs, passing 500T and nearing 600T. That compares to an average of around 350T for the month of May, although that number steadily rose throughout the month to the numbers were seeing today. All this considered, however, profits for miners have remained steady (and perhaps even grown) in recent months with the continually-rising price of 1 ETH. As of this writing, a 150 Mh/s 6 GPU min Continue reading >>
Ethereum Solo Mining - Crypto Mining Blog
All About BTC, LTC, ETH mining as well as other alternative crypto currencies Those that actually solo mine crypto coins are familiar with the not user friendly way that things happen and mostly the lack of details on your solo mining statistics over time unlike when using a mining pool. Ethereum is a no exclusion from that rule when solo mining and with not that many pools and some pools having issues, even though the difficulty of the network is not that small, there are still quite a lot of people that solo mine especially if they have more than just a few GPUs. There is now a new open source project called ether-proxy which essentially is an Ethereum solo mining proxy that can help you keep track on how your solo mining for Ether is going on with multiple mining rigs, though it will work even with a single one. EtherProxy relies on Go and needs geth (the Ethereum Go client in order to function as a backend) with the mining part happening just like you do with ethminer pointed at a mining pool. In the local proxy url you set for ethminer to use you can set the share difficulty as well as an ID for each mining instance (or mining rig) that you are using. All the basic stats that you need is being displayed in a clean and simple web-based interface for you to keep track on things like running status of mining rigs, hashrate, blocks found and so on. If you want to try the project yourself, there is already a Windows binary release available to save you some trouble or you can compile from the source code yourself. Ethereum is Getting More User Friendly with AlethOne The C++ implementation of the Ethereum client (cpp-ethereum) is getting more user friendly with the new AlethOne GUI intended to simplify the mining process for users that are not into programming and hate Continue reading >>
What Is The Best Eth Miner?
If you have reached this article it means you have decided to go further into the world of Ethereum. As with Bitcoin mining, this cryptocurrency mining has increased its value by at least 2800% in just a year, the trend is only going to continue to rise as more and more people realize the benefits, flexibility and, more importantly, profitability that cryptocurrencies like mining Bitcoin represent. Luckily, ETH can be accessed much easier now than before and theres no more need to download the full Ethereum blockchain (which is the list of mined blocks since Bitcoin mining hardware was created), this will save you loads of time since this blockchain is over 20 GBs by now.So, what you need to get started is to build a proper ETH miner. But what makes a proper miner make the most of a mining pool? A Compatible Hardware: It is important to remember that to turn your computer into an ETH miner means that you will put more stress on it than a normal user, for this you need your system to run smoothly so at least 3GB RAM is required for a proper mining experience. As for the CPU, you dont need the best out there (a simple CPU will do), but dont be cheap. The Right OS: Windows 10 or Linux, preferably not IOS . A strong GPU mining rig which is eventually what you will use to mine. Free space on your hard drive of at least 30 GB or more for blockchain and other software. Enough money to invest in all the things above. Even though ETH mining is fairly accessible, theres no such thing as free money and to make it profitable you require a proper upgrade for your system; otherwise you might just waste your time A miner client which is the point of this guide. Well go through the best miners below.Always make sure to have a trustworthy ETH Wallet.These are services that work pretty Continue reading >>
How Do Mining Pools Work? Is It Better Than Solo Mining?
How do Mining Pools Work? Is it Better Than Solo Mining? Admir Tulic October 24, 2017 420 no comments Lets start with the definition of pool mining: A Mining Pool is a protocol for a group of miners to work together, in order to smooth out their mined coins. Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time. So, bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. The mining pool coordinates the workers. Its just like a lottery pool. Your odds of winning a lottery are very low, so you team up with a bunch of other people and agree to split the winning. This makes your odds of winning much higher, but the amount you win much lower. What a mining pool does is function as a coordinator for all the pool participants doing: Recording how much work all the participants are doing Assigning block rewards proportionally to participants Miners mine differently by running pool software instead of the bitcoin client and just performing hashes for the pool. The pool operator randomly verifies a small portion of the work submitted by each member of the pool. The member miners dont know which of their submissions will get verified so they cant cheat. If they cheat once in a while they might get away with it but not for long enough to matter. Traditionally, pools gave miners work units covering the entire nonce range 0-4,294,967,295. When the miner finishes work, he r Continue reading >>
Beginner's Guide To Ethereum Mining In 2017 - How To Mine Ethereum On Your Pc?
Last updated on August 15th, 2017 at 11:06 pm Getting Started with Ethereum Mining the video guide The good news is that getting started with Ethereum Mining is now easier than ever. You do not need to download the full Ethereum blockchain, which is now over 20+ GBs and still growing! You also do not need to manage clunky command line miners with manual instructions. For purposes of this guide, we are going to do a detailed walk-through of setting up and using the very popular Claymore Miner. Get the current version here from Claymores original Bitcointalk thread and then follow along with the steps in this video. The whole process of getting a wallet setup, downloading your miner, configuring things in Windows and setting up your batch file to run should take less than 10 minutes: If youre new to mining Ethereum , this guide covers all the important facts in a simple, low-jargon way. Lets start with some short answers to common questions about Ethereum mining: Q: Whyshould Imine Ethereum tokens (aka ether or ETH)? doesnt mining Ether take up a lot of electricity? A: If done properly, more money is earned by selling mined ETH than is spent on electricity. In other words, its profitable! You can check out the profitability with our Ethereum mining calculator . Q: Can I mine with my CPU (Personal computersprocessor) instead ofan expensive graphics card (GPU)? A: GPUs are so much faster that CPU-mining is no longer profitable or worthwhile. Even entry-level GPUs are about 200 times faster than CPUs for mining purposes. Q: Whats the best GPU to use for getting the most ETH for the least electricity? A: AMD cards tend to edge out similarly-priced NVidia cards in terms of efficiency. We cover the best cards to get under the heading GPU Hardware further down in this post. Q: Continue reading >>
How To Mine Ethereum On A Windows Pc?
You can also mine Ethereum Classic (ETC) if you start your geth in Step 7with the param --oppose-dao-fork. Read this ifyou want to understand what Ethereum Classic is . Running a CPU you might be able to generate 0.15 Mega Hashes whilst with a decent GPU with enough memory you could be doing upwards 25 Mega Hashes ( you can choose a GPU to mine ether here and use our guide on how to choose a GPUto mine ether ). So in terms of total efficiency, taking into account electrical costs, a GPU is definitely worth it even if it costs you $200. You can also try buying a cloud mining contract with Hashflare or Genesis Mining . Part 1 - Installing GETH, Syncing the Blockchain & creating your own address! Step 1: The first thing you need to do is go to this link download Geth . Geth is the program that communicates with the Ethereum Network and acts as the a relay between your computer, its hardware and the rest of the ethereum network computers so if a block is mined by another computer your Geth program will pick it up and then pass on the new information onto your GPU or CPU for mining. Step 2: You need to unzip the GETH file and move it to a location on your hard drive. In this case we'll move it to the hard drive, usually (C:) - which will make the next step easier. All you need to do is copy the file you have downloaded and unzipped and move it to the hard drive folder. Step 3:Now you need to run the program you just downloaded. To do this you need to run Command Prompt. You can do this by searching in the search function in Windows for "CMD" and then clicking on it when it shows up. Step 4: Command Prompt is now open - and can look terrifying to people who aren't familiar with it. The Command Prompt box usually has C:\Users\Username>showing in it - where Username is your us Continue reading >>
Best Ethereum Pool List
Download Wallet! Get the latest version of Ethereum Mist Wallet Here! 1. 0.8% fees. Payouts released 2 times a day for balances higher than 0.5 ETH. 2. 2% fees. Payouts released 4-6 times a day for balances higher than 1 ETH. 3. 0% fees. Payouts released every 24 hours for balances higher than 1 ETH. 4. Predictable Solo Mining pool. 0% fees. Payouts after 10 confirmations. 5. PPLNS 1% fees. Payouts released 2 times a day for balances higher than 0.1 ETH. 1. 1% fees. Payouts are up to the miner (Manual or Automatic from 0.01 ETH). 2. PPLNS 1 % fees. RBPPS 4% fees. Payouts are up to the miner (Manual from 0.1 ETH). 3. 1% fees. 1. Payout not been released for a couple of days. Awesome tool informed by @MrYukonC . Good way to look for where to mine. Continue reading >>
Solo Mining Pools - Gambling For The 21st Century - 2miners Blog
Solo Mining Pools Gambling for the 21st Century In many countries, gambling is prohibited forcing those who want to catch their bluebird of happiness to go abroad or to select areas and visit casinos and slot halls.It just happens to be that mining is also a sort of casino, in its own way. And we will tell you why. The GPU miner rigs or ASIC devices of one miner are going through billions of combinations searching for the desired block solution. The moment fortune smiles at him and one of his devices find the right solution of the block; the miner gets the reward. The difficulty of mining the most popular cryptocurrencies is so high that the miner cant deal with it on his own. But if he calls his friends to help, and they will, there's a chance they will find the right solution pretty fast. They will split the reward in this case. Thats how the mining pools are born. In cases with different cryptocurrencies for each block found you get different amounts of coins. For instance, for a block of Zcash (ZEC) miner gets 10 coins (currently $2400), for a block in Ethereum network - 3 ETH coins or $900. There are also lower rates, for example, a block of Pirl will give you 10 coins ($4), Ethereum Classic - 5 coins ($84). Ah, dont forget about His Majesty Bitcoin...12.5 coins or $82530! Lets imagine you are rolling the dice and you need to get 6. In the perfect world, if you roll it many times, number 6 should appear in 16,67% of cases, i.e., every sixth time (since the dice has six faces), right? In real life, you can get lucky, and the number 6 will appear a few times in a row if you experiment. The process of solution searching in mining is equivalent to rolling the dice, even though it sounds strange. You are competing with the whole world, but the point doesnt change. Lets Continue reading >>
What Is Solo Mining & How It Works For The Miners In The Bitcoin Network?
Solo mining is a solo process where the miner completely does his task of mining operations without any helping hand. This process is mainly done alone without joining a pool. These blocks are mined and generated in a way to the task completed by the miners credit. This is a small brief on Solo mining and its process. Solo mining is the process of mining alone as we told earlier. We are aware that when you connect yourself to a pool, the process that mainly happens is that all miners get connected to the same bitcoin -client to confirm transactions . This helps to increase the probability of finding a block directly. Further, the block provides incentives from the shares from all miners . If you do the process of solo mining , make sure to connect your miner to your local Bitcoin client. This is for getting the best results to find a block on your own. The probability will tend to decrease and lower, but in turn, you do not share the block incentive. We all know how the Bitcoin network works. If your interest is to go for a long run solo mining and pooled mining you will get you exactly the same amount that you expected. In this new digital world, the real option always goes with pooled mining because it is definitely the better way if you have the hardware which consists of small hash rate. The several tens of TH/s can be used to get more rewards from the solo mining than pooled mining. The current hardwares utilized for the process of solo mining can deliver an experience which is more like playing the lottery. But if you do it right you can exit with a lot of cash. What you need to solo mine How it Works? Firstly, install the Bitcoin -core which is hardware used for solo mining process. Henceforth, start it and complete the download of the blockchain which is almost Continue reading >>
Ethereum Mining Profitablity Calculator
SwissBorg - Crypto Wealth Management on the Blockchain 10mln$ already raised. Become a Whale on 1 Swiss ICO ! This mining calculator will display your expected earnings in both Ether and Dollars. The calculations are based on the assumption that all conditions (difficulty and prices) remain as they are below. Continue reading >>
Ethereum Mining On A Windows Pc
Are you a Windows guy? Want to do Ethereum Mining? Great then youve come to the right place. Ethereum mining on a Windows PC take a little bit more work but really anyone can pick it up easily. This guide is a mining guide that goes through the steps on how to set up the software and configure it on a Windows PC. This guide does not show you how to build an ethereum mining rig . Download Geth .Gethis the program that communicates with theEthereum Networkand acts as the relay between your computer, its hardware and the rest of the Ethereum network. Once you have it downloaded, save it somewhere(Desktop is easiest) and unzip the file. Then copy Geth applicationtoyour C: drive. Next, start upCommand Prompt and navigate to the C: drive.If you dont know how to get to the C: drive, simply typecd \and now you be looking atC:\. Now you are ready to launch Geth. Just type geth account newand hit enter. You will be asked toenter a passphrase. You will not be able to see what you are typing. Guard this passphrase with your dear life! It locks your account and keeps your private key safe. If you lose it or gets stolen, you will lose all of your Ethereum that is held within the wallet held by that Private key. Once you have entered your password and confirmed it by entering it a second time you will have created a new wallet! The wallet address is given to you. Write it down or copy it since you will need this a bit later. Now that you have your wallet ready, you will need to getGethto start communicating with the rest of theEthereum network. Typegeth rpcand hit enter. The screen should start downloading theblockchain for Ethereum. You are synchronizing with the rest of the Ethereum network while it is downloading. The process can take up to a few hours so be patient. Sometimes you Continue reading >>