How To Mine Ethereum In 5min
Surprisingly, all you need is an AWS EC2 instance to start mining Ethereum. Im sure youve already heard of the cryptocurrency craze way before reading this post. Cryptocurrencies are slowly and quietly revolutionizing the way financial systems and transactions work (and should work in my opinion). With Bitcoin hitting its $6K mark not awhile ago, a current total of $158B in market cap and hundreds of ICOs (Initial Coin Offering) conducted since August, its sure to say theres a bubble in the cryptocurrency space. Whats more, is that it doesnt seem this bubble is going anywhere, anytime soon. As you can see in the graph below, the total market cap of cryptocurrencies has grown from under $50B to over $150 in under a year! So what would be the best way to enter this space and enjoy the growth? Im not a cryptocurrency expert, however, from my research Ive found that the answer is pretty clear across all opinions: If youre looking for quick earnings, just invest incoins. However, due to this ever-growing crypto market, mining in the short term could lead to significant earnings in the long term. Personally, Im very interested in Ethereum , and have found an effortless way to start mining it quickly on AWS! This post will walk you through the process. But before we start, lets go over some basics. If youre already familiar with them, just scroll down. Ethereum is an open software platform based on the blockchain technology that enables developers to build and deploy decentralized applications. The advantage of Ethereum over Bitcoin, is that it can support many different types of decentralized applications. Ethereum has the second largest market cap after Bitcoin, and has gained massive growth in the last year with over 230% as you can see below: However, increasing growth in Continue reading >>
Ethereum Mining 101: Your Complete Guide
The world has gone digital, from the development of smart homes to the development of innovations that promote seamless transactions. Every industry is feeling the impact of technology now more than ever. In every part of the world, the technologically driven goals remain the same: the maximization of profit and the promotion of sustainable development in all spheres of life. It is this yearning to make life as easy as possible that brought about the birth of cryptocurrency . Ethereum seeks to make these aspirations come true. The platform boasts of several applications that help users carry out everyday tasks in a simple fashion. What is Mining, Ethereum Mining and Where Does Ether Come From? Mining is a computationally intensive work that requires a lot of processing power and time. Mining is the act of participating in a given peer distributed cryptocurrency network in consensus. The miner is subsequently rewarded for providing solutions to challenging math problems. It is done by putting the computer's hardware to use with mining applications. All the information on cryptocurrency transactions must be embedded in data blocks. Each block is linked internally to several other blocks. This creates the blockchain . These blocks must be analyzed as fast as possible to ensure a smooth running of transactions on the platform. However, the issuers of such currencies do not have the processing capabilities to handle this alone. It is where miners come in. A miner is an investor that devotes time, computer space and energy to sorting through blocks. When the mining process hits the right harsh, they will submit their solutions to the issuer. After verification, the issuer of the currency offers rewards which are portions of the transactions they helped in verifying. They als Continue reading >>
How Profitable Is It To Mine? How Much Ethereum Can I Mine In A Month? How Long Will It Take For The Miner To Pay For Itself / Roi?
How profitable is it to mine? How much Ethereum can I mine in a month? How Long Will It Take for the Miner to Pay for Itself / ROI? How profitable is it to mine? How much Ethereum can I mine in a month? How Long Will It Take for the Miner to Pay for Itself / ROI? Here is the profit number for our most popular Shark mining rigs: Shark Mini (4 GPU): up to $500-$600 per month Shark PRO (6 GPU) up to $800-$900 per month Shark EXTREME (8 GPU): up to $1000-$1200 per month Full profit report, hashrates and power consumption for each Shark mining rig listed here: Due to the nature of Crypto Currency and volatility of the market, all the profits are for reference only and may vary. The best way to get accurate numbers for today is to use a mining profitability calculator: 1. Go to 2. Choose currency, enter the hash rate, and you'll get an estimate for profit per day, week, month, and year. For more detailed estimation you may enter wattage and local electricity cost. Continue reading >>
How Much Can You Make Mining Ether And How Much Does It Cost To Run?
I'll break it down for you, show youhow much it costs to get up and running, how much you'll make and how much you can expect to pay for electricity, but first I want you to know that You're probably asking the wrong question. You shouldn't be asking "How much do I make in one day of mining Ether?"... Here's why: Asking that, demonstrates that you might be getting into mining for the wrong reasons. If you're setting up a rig thinking you're going to strike it rich with a couple of GPUs in your parents basement and you've run up your credit card on 'case fans' like a hardware junkie, you might need to reconsider your goal. There is NO Ether mining 'get rich quick' scheme, nor is Ether day-trading a smooth route to a quick buck. It takes some work to get the basics working for you, but what it really takes to make it work, is Time. If you are setting up a rig for any other reason, then you might be a long haul believer, like me. As I explained in one of my first articles' How I Learned to Mine Ether... , Bitcoin never felt that exciting to me, but Ethereum held promise of a new "form" of internet, the fuel of the new web, its' technological background is fundamentally different, and better. That alone is worth it for me, but then you add to that, the fact that some of the most valuable AltCoins are based on Ethreum as well. - that's why I voted for Ethereum with my dollars. But not just buying in, I got GPUs and dedicated my PC to be a mining rig because I wanted to be a part of the support for Ethereum and learn first hand how it all fits together, I really only 'invest' in things if I can understand and see how it works - I don't buy black box anything. So, as much as I would have to pay for new GPUs, I also put some money directly into buying ETH coins with smaller pu Continue reading >>
Ethereum Mining Is Profitable, But Not For Long
Ethereum mining is profitable, but not for long Venture Capital | Investment Analysis | Deal sourcing + Execution. Previously founded and exited a profitable tech company in India You can also reach me at @shekhartee You can create a community post just like Shekhar here . This is a constant question, especially now that the price of Ethereum is rising. This year, Ethereum has seen an almost 20x jump in price. This increase has led people, who hadnt considered cryptocurrency, to sit down and become suddenly extremely interested. When this happens, I believe that most of the biggest profits have already been made. People have been mining the coin for months or years, and they have probably seen some tremendous gains, especially if they have a decent-sized operation. OK, lets get back to the question: Is it worth it to start mining? If you are just hearing about Ethereum and interested in maybe jumping onboard, this can be a very difficult question and the answer depends on a lot of factors. Well, hopefully, this article will help you get an idea of whether it is good to mine Ethereum. In elementary terms, Ethereum is an open software platform based on the blockchain technology that enables developers to build and deploy decentralized applications. I remember a friend once came up to me and asked, Is bitcoin and Ethereumsimilar? Well, sort of, but not really. Like bitcoin, Ethereum is a distributed public blockchain network. There are, of course, some significant technical differences, but the most important is that they differ substantially in purpose and capability. Bitcoin offers one application a peer-to-peer electronic cash system that enables bitcoin payments. The Ethereum blockchain can support many different types of decentralized applications. Wait, if it is a n 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 >>
Ethereum: Gpu Mining Is Back But For How Long?
Ethereum: GPU Mining Is Back But For How Long? By now, everyone and their dog has at least heard of Bitcoin. While no government will accept tax payments in Bitcoin just yet, its ridiculously close to being real money. Weve even paid for pizza delivery in Bitcoin. But its not the only cryptocurrency in town. Ethereum initially launched in 2015 is an open source, it has been making headway among the 900 or so Bitcoin clones and is the number two cryptocurrency in the world, with only Bitcoin beating it in value. This year alone, the Ether has risen in value by around 4000%, and at time of writing is worth $375 per coin. And while the Bitcoin world is dominated by professional, purpose-built mining rigs, there is still room in the Ethereum ecosystem for the little guy or gal. There may be many factors behind Ethereums popularity, however one reason is that the algorithm is designed to be resistant to ASIC mining. Unlike Bitcoin, anyone with a half decent graphics card or decent gaming rig can mine Ether, giving them the chance to make some digital currency. This is largely because mining Ethereum coins requires lots of high-speed memory, which ASICs lack. The algorithm also has built-in ASIC detection and will refuse to mine properly on them. Small-scale Bitcoin miners were stung when the mining technology jumped from GPU to ASICs. ASIC-based miners simply outperformed the home gamer, and individuals suddenly discovered that their rigs were not worth much since there was a stampede of people trying to sell off their high-end GPUs all at once. Some would go on to buy or build an ASIC but the vast majority just stopped mining. They were out of the game they couldnt compete with ASICs and be profitable since mining in its self uses huge amounts of electricity. Economies of Continue reading >>
Ethereum Mining Profitability Calculator
*Calculate how much Ether (ETH) should be mined with a specific hashrate. This is alpha software. Let me know if you see any bugs. Hashrate and Blocktime calculated by looking at the last 64 blocks. The price is from coinmarketcap. Data is updated every 10 minutes. This calculator does not take into account uncles. Continue reading >>
It Is No Longer Worth It To Build An Ethereum Mining Rig
It Is No Longer Worth It To Build An Ethereum Mining Rig Building an Ethereum mining rig hasnt been worth it for months, and soon they will be completely obsolete. Goodnight, sweet prince. Image: Daniel Oberhaus/Motherboard Back in May I wrote a guide explaining how to build an Ethereum mining rig , a special type of computer that forms the backbone of the Ethereum network and earns ether, the digital currency native to the network, for its owner. Shortly thereafter, Motherboard also made a video documenting this process . Since then, Ive received countless emails from readers inquiring about my mining rig. Ive received three such emails this week. The most common question voiced by these readers is whether or not it is still worth it to build a mining rig. The answer to this question is no. Building an Ethereum mining rig hasnt been worth it for months and a few months from now, mining ether will be completely obsolete. Read More: An Idiot's Guide to Building an Ethereum Mining Rig Arguably, building an Ethereum mining rig wasnt even worth it when I built my machine in May, and many readers let me know this when the article and video first came out. This is somewhat true, but there is a necessary caveat here. Mining ether also wasnt worth it for about the first year and a half of the cryptocurrencys existence. The price of ether hovered around $10 from 2015 until early 2017, when it saw a spike to $25. This was important because it meant the value of the ether being mined was higher than the cost of the electricity that was needed to mine it. In other words, until that point small scale mines were operating at a loss in the belief that the tokens they were mining would someday be worth a lot more money. In hindsight, these early miners were rightthe price of ether has Continue reading >>
How Long Does It Take To Mine A Bitcoin?
Felix Kster December 12, 2017 47 no comments Right off the bat you cant mine a bitcoin. You can mine a block of bitcoins. Now, read on for more in depth explanation This question has no fixed answer as there is something called mining difficulty. It is a dynamic parameter that controls hash power needed to mine a bitcoin block. New bitcoins are generated roughly every 10 minutes, but your ability to earn those newly created bitcoins is dependent on how much computational power you have relative to how much computational power is on the network. One of the points of bitcoin is that the cost of successive bitcoins increases steadily. So there is no standard difficulty: the first ones were easy, the last will be incredibly hard. Lets make couple of points clear: You cant mine a bitcoin. What you can mine is a block, which is currently rewarded with 12,5 bitcoins (plus the fees of included transactions) theres a (more or less) fixed number of 1,800 BTC gained from mining each day, until the block reward halves in 2021. Those coins can be viewed as being shared by the whole network proportionally to the computing power of each player. What most small miners do (and even some big ones) is pooled mining : you contribute your computing power to a pool, which does the actual mining and reward you with a fraction of the mined bitcoin. With this system, you will have earned 1 bitcoin when you have contributed about 1/25th of the computing power to mine a block (approximately; the details depend on the pools rules and the transaction fees too). The problem is that the Bitcoin difficulty is constantly adjusting to keep the average time between two blocks more or less constant at 5 minutes. Which mean that the more computing power is dedicated to mining bitcoin (in total), the more Continue reading >>
How Ethereum Mining Works
Today, miners play an important role in making sure ethereum works. This role isn't immediately obvious, though. Many new users think that the sole purpose of mining is to generate ethers in a way that doesn't require a central issuer (seeour guide" What is Ether? "). This is true. Ethereum's tokens are created through the process of mining at a rate of 5 ether per mined block. But mining also has another at least asimportant role. Usually, banks are in charge of keeping accurate records of transactions. They ensure that money isn't created out of thin air, and that users don't cheat and spend their money more than once. Blockchains, though, introduce an entirely new way of record-keeping, one where the entire network, rather than an intermediary, verifies transactions and adds them to the public ledger. Although a 'trustless' or 'trust-minimizing' monetary system is the goal, someone still needs to securethe financial records, ensuring that no one cheats. Mining is one innovation that makes decentralized record-keeping possible. Miners come to consensus about the transaction history while preventing fraud (notably the double spending of ethers) an interesting problem that hadnt been solved in decentralized currencies before proof-of-work blockchains. Although ethereum is looking into other methods of coming to consensus about the validity of transactions, mining currently holds the platform together. Today, ethereum's mining process is almost the same as bitcoins . For each block of transactions, miners use computers to repeatedly and very quickly guess answers to a puzzle until one of them wins. More specifically, the miners will run the blocks unique header metadata (including timestamp and software version) through a hash function (which will return a fixed-length, 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 >>
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 >>
Ether - How Long Does It Take To Receive Payouts On Minergate? - Ethereum Stack Exchange
How long does it take to receive payouts on Minergate? I've been mining ETH on Minergate for about 4hrs but I can't see anything adding up to my balance. I have an NVidia GTX1070 producing an average of 27Mh/s.Any idea if not seeing anything after a few hours is normal or there is something wrong? Having read up on how Minergate works, I've noticed that they've two payment models . They are PPS (Pay Per Share) and PPLNS (Pay Per Last N Shares). You'll need to in order to have an idea of how often you're going be receive payouts. I've read that people have gotten payouts quite regularly then it stops all of a sudden. Completely dependant on your selected payment model. For example, PPLNS will give you wide fluctuations in your 24 hour payout, but for hardcore miners,the law of large numbers states you will earn more this way. Any idea if not seeing anything after few hours is normal or there is something wrong? You may have a corrupted DAG file. You'll know if you've suddenly been receiving only 'bad' shares. If this is true, then delete your DAG file and restart the miner: Path on Windows machine: C:\Users\%user%\AppData\Local\minergate.ethash-minergate thanks for your answer, minergate only has PPLNS for ethereum, and my balance is still on 0.0000000 which is weird considering my hashes. and I have no bad share so far Jonathan Nov 4 at 19:28 With PPLNS there is an element of luck. This may be the reason you havent seen a payout. However, the more likely reason is that your balance is unconfirmed right now. The higher your miners hashrate the faster they are confirmed by minergates servers. Theyve said that it can range from a couple of minutes to a couple of days to get your balance confirmed :) minergate.com/faq/what-is-unconfirmed-balance Malone Nov 4 at 19:33 I see Continue reading >>
Is It Worth It To Start Mining Ethereum? [december 2017]
Its been a while since we updated this series this past summer , but our answer for the Is it worth it? question has remained mostly the same. Ethereum saw increasing difficulty throughout the fall and little increase in price, which made mining steadily less and less attractive. But recently, Ethereum has boomed to be priced at around $700-$800, which has led to a resurgence in mining interest. So whats the latest answer to this constantly-repeated question in the mining community? Ethereum is becoming even more profitable now after its first huge jump in price over the summer, which has meant even more to become suddenly interested. Especially since Ethereum is currently one of the most profitable coins to mine, its worth considering how the landscape has changed lately. We recommended for two months straight over the summer that people that want to minimize the risks involved with investing in the cryptocurrency space should consider getting into Ethereum mining, but that it might be a bit late in the game to set up a rig considering the many unknowns in the industry. Those that got in early and have remained steadfast in keeping their rigs online since then have made really decent gains, especially if they had many rigs or GPUs to maximize their profits. 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. Do you appreciate this guide? Tips welcome! Ethereum:0x51984c8b295e6ee46d0d0fba0fd5548cff632327 Bitcoin:17nveRFLh833mnFjkyk9zaw9oYFudV8UKF Ethereum difficulty update for December 2017 Difficulty moved up steadily throughout the summer (all the way up to 3,000T in mid-October, at which point mining Ethere Continue reading >>