When Will Ethereum Mining End?
In August of this year (2017), Vitalik Buterin, creator of Ethereum , released the implementation guide for the first version of Casper. As a hybrid proof-of-stake (PoS)/proof-of-work (PoW) algorithm, Casper v1 is going to decrease (and eventually end) the profitability for Ethereum miners . The release date is estimated to be sometime in 2018 as part of the Constantinople hard fork and theres a lot to learn before this happens: Casper is a PoS algorithm thats projected to be released on the Ethereum network sometime in 2018. Beginning as a hybrid with the current PoW algorithm, the first version of Casper will only use a PoS consensus to validate every 100th block, called checkpoints. Once a checkpoint is validated, theres no way to go back and use a chain without it. Even if 99% of miners support a chain that doesnt include a checkpoint block, all clients in the network will still continue to use the one with the checkpoints. This removes a lot of the power that miners currently have. The Ethereum community hypothesizes that the switch to PoS will help with the scaling issues that the network is currently facing. The algorithm should enable new blocks to be created more quickly while allowing the network to scale more efficiently through sharding. Sharding is a horizontal partitioning of a large database into smaller and more easily managed parts. Beyond that, PoS algorithms also use less energy to run the network, reduce centralization, and make 51% attacks more difficult. With the upcoming hard fork, there could potentially be three forks of Ethereum: And, if youre a miner, you may be thinking, No big deal, Ill just continue to mine and give support to the Ethereum PoW fork. The Ethereum developers have stated that theyll be releasing what they call the difficulty Continue reading >>
Mining - What Is The Total Supply Of Ether? - Ethereum Stack Exchange
In Bitcoin, the total supply is capped at 21 million BTC. Is the total supply of Ether capped? How much will be mined before the Proof of Stake (POS) transition, and how will POS affect the issuance model? I'm not sure anyone really knows the answer, as it hasn't been decided, AFAIK. Tjaden Hess Jan 25 '16 at 20:42 Thanks. Was afraid of that. Hope that gets decided soon - would vastly prefer a fixed money supply at time of Proof of Stake with mining paid for by transaction fees only. Matthew Light Jan 25 '16 at 21:02 To clarify, homestead and PoS start are not necessarily the same milestone. Makes things a little close, but in my mind that means these are not the same question. Jeff Coleman Jan 26 '16 at 5:39 60 million + 12 million + 18million = ~90million60 million - is the Pre-sale.12 million - is the dev fund, 0.2coins per 1 coin sold in the crowdsale.~18 million - 1 million coins mined per month for 18 months prior to going from POW to POS. Update #1: 91,018,773.78 (April 25, 2017). After a while, 15,626,576 ether won't represent much of the total ether available, making the system dis-inflationary (i.e., inflation perpetually trending towards 0 but never reaching it). is there inflation after all coins are mined? Patoshi Feb 2 '16 at 20:55 @duckx i dont think, because the value will be high and it will keep increasing hopefully niksmac Feb 3 '16 at 2:34 @NikhilM we've seen this story before: if it doesn't take much Ether to actually create a contract then absent other drivers for demand the value will plummet. The rallies are driven purely by the low float, which is great for perception, but one must look at the risk factors for both the economics and their associated investment. Cryptocurrencies make this difficult due to the need to own them as an asset thereby 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 >>
How Many Ether Will Be Produced?
I'm having a hard time finding a concrete answer to this question. How many ether will be produced? Is there a cap on the amount of ether that will be produced, and if so, what is it? What are the characteristics of the halvings? I'm considering buying ether but want to know before buying it, especially because I believe ether is currently in a hype bubble. 12+ exclusive games The Bitcoin Casino by Primedice Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. So, I'd suggest you not to hold them for a long time. Quote from: g-unit on March 26, 2016, 03:44:06 PM I'm having a hard time finding a concrete answer to this question. How many ether will be produced? Is there a cap on the amount of ether that will be produced, and if so, what is it? What are the characteristics of the halvings? I'm considering buying ether but want to know before buying it, especially because I believe ether is currently in a hype bubble. No hard cap. No halving. Only unlimited supply. tl;dr - The technology is valuable in Ether. The token is valuable in Bitcoin. So, HODL bitcoin & learn ether. what i understood from their website, is that after a set time the mining algo is going to change from what it is right now and from then on the mining reward is going to be reduced so the creation of new coins will be slowed down but still there will be a huge amount available by then. it says nothing about the maximum number though!! ITT FUDsters intentionally spreading misinformation No. According to the terms agreed by all parties on the 2014 presale, issuance of ether is capped at 18 million ether per year (this number equals 25% of the initial supply). This means that while the absolute issuance is fixed, the r Continue reading >>
How Are Ether Currency Units Issued In Ethereum?
How are Ether currency units issued in Ethereum? Ether is not issued by any specific single manner a compromise between funding to get the project off the ground and future mining to secure the network has been taken. If you were lucky enough to have bought into the crowd funding of Ethereum you would have helped fund the project as well as got yourself some currency on one of the most exciting financial/technological advances ever. The fundraising was taken in mid 2014, and roughly 60 million (60,102,216 ETH) Ether units were issued at a rate of between 1000-2000 Ether per Bitcoin or BTC. Of the total amount sold another 9.9% were released to allocated to the Ethereum Foundation to compensate early contributors and pay for ETH denominated expenses prior to the genesis block on the 30th July 2015. Another 9.9% was maintained as a long term reserve for Ethereum meaning the total number of coins released prior to the launch was 72 million. The Ether currency units to be released per year after the Genesis block will be 26% of the initial 60 million raised in the funding phase. The amount of coins released per year will stay constant at 15.6 million Ether Units. In year five, or July 2020, over 50% of the coins will have been mined by miners. Ether is issued at a rate of 5 ETH per block on a block time target of 12 seconds. In this way the inflation takes precedence in the first few years and deflation further down the path very similar to Bitcoin . The difference being that Bitcoin rewards stop after the year 2140 with Ethereum there will still be 15.6 million Ether units issued a marginal increase in the money supply. 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 >>
80% Of All Bitcoins Already Mined, Only 4.2 Million Coins Left Until Supply Cap
80% Of All Bitcoins Already Mined, Only 4.2 Million Coins Left Until Supply Cap 80% of the total supply of Bitcoin has now been mined, driving up the difficulty and cost of mining. Jan. 13 marked an important milestone for Bitcoin when 16.8 million bitcoins (BTC), or 80 percent of the entire Bitcoin supply, were mined . This means only 4.2 million bitcoins, or 20 percent, are left to mine until Bitcoins 21 million supply cap is reached. BTC contains the 21 mln cap built into its protocol by Satoshi Nakamoto, first mentioned in their 2008 White Paper , as a way to introduce digital scarcity to cryptocurrency. With such a cap in place, the more bitcoins are mined, the more scarcity is produced on the market. Scarcity arguably creates demand, which in turns makes the coins more valuable. Once 21 million bitcoins have been mined, it will become even harder to obtain them, also potentially making each coin more valuable. Miners currently receive a 12.5 BTC reward for every block that they mine, but Nakamotos protocol also requires that the mining reward is halved every 210,000 blocks , or approximately four years. The next miner halving will take place within two years, approximately in early June 2020 depending on hashrate, bringing the rewards down to 6.25 BTC per mined block. Not every digital currency is mineable like BTC. Some cryptocurrencies are created with the entire supply released all at once, in which case the total supply is either held or in circulation and there is no way to mine or mint new coins. 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 >>
80 Percent Of Total Bitcoins Have Now Been Mined | Digital Trends
Posted on January 15, 2018 - 5:58AM 1.15.18 - 5:58AM Although bitcoins are bought, sold, and lost more today than ever before, the rate of new bitcoins being created is starting to slow. The reasons behind that are a little complex , but suffice it to say, the closer we get to the 21 million maximum number of bitcoins mined, the harder it gets and weve just hit the 80 percent milestone. Even if youre only just coming to grips with this whole cryptocurrency phenomenon, or have been trading them since the days where they were worth just a few dollars each, bitcoin has been mined for far longer. Its creator, the pseudonymous Satoshi Nakamoto, mined the first bitcoin block in its blockchain back in 2009, rewarding him with 50 bitcoins. Earlier this month, miners extracted the 16,800,000th bitcoin, which is significant, because it means there are only 20 percent of all the bitcoin there will ever be to go. The self-imposed scarcity of bitcoin is one of the reasons it has become so valuable in recent months and proponents of the flagship cryptocurrency believe that that will help propel it to new heights over the next few years. Although there are many detractors of bitcoin, claiming that its scaling issues and ballooning transaction costs make it a difficult cryptocurrency to support long-term, it has proven to be the best store of value of all 1,300-plus coins so far, as per Bitcoin.com . Other cryptocurrencies that are in vogue, like ethereum, have no cap on their number, meaning that new Ether and similar will be produced as long as people see it as a worthwhile practice to pour their computational cycles into making it. Considering thats also required for transactions to be completed, its important that it continues into the future. As for bitcoin, as the difficulty of 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 >>
History Of Ethereum: How It's Set To Overtake Bitcoin By 2018
History of Ethereum: How it's set to overtake Bitcoin by 2018 PeopleMine Facebook LinkedIn Twitter Email Print Ethereum has been characterised by a lot of volatility in recent times. At the moment this guide is being written this cryptocurrency has just suffered one more 'shock' that saw its price fall sharply and rise again in a short period of time (less than 24 hours). But what is ethereum? Why is it that we need to start paying attention to it? And why is it set to overtake bitcoin by 2018? In this guide we will answer these questions and more. We need to start in the beginning. The infographic below traces the history of Ethereum and identifies the key events that lead it to emerge as one of the most important cryptocurrencies. Starting in 2013, the infrastructure started to be built that would allow this new coin to pose a major threat to the main 'rival': bitcoin. Let's then trace the origins and evolution of Ethereum and lay the foundations for why, in our opinion, Ethereum is set to overtake bitcoin by 2018. How Ethereum is Set to Overtake Bitcoin in 2018 In order to understand how ethereum is set to overtake bitcoin we will introduce key ethereum concepts first. Once this is done we will address the core issue of concern in this guide: why we think ethereum will be the most important cryptocurrency in 2018. Ethereum' a term that often works the tongue while pronouncing it. But yet, it is a word that we must become accustomed to in the new found world of blockchain technology. By definition, Ethereum is a decentralized platform that runs smart contracts. The platform was developed by Ethereum Foundation, a Swiss non-profit, with some expert advice from great minds across the globe. The platform dawns us to a new found world of blockchain technology where all a Continue reading >>
What Is Ether?
Ether is a necessary element a fuel for operating the distributed application platform Ethereum. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources). If you just want to test the technology, you probably don't need real ether. Download the latest Wallet app and switch to the Test Network Check your ether presale balance safely here: The total supply of ether and its rate of issuance was decided by the donations gathered on the 2014 presale. The results were roughly: 60 million ether created to contributors of the presale 12 Million (20% of the above) were created to the development fund, most of it going to early contributors and developers and the remaining to the Ethereum Foundation 5 ethers are created every block (roughly 15 seconds) to the miner of the block 2-3 ethers are sometimes sent to another miner if they were also able to find a solution but his block wasn't included (called uncle/aunt reward) Note that after the Byzantium update is implemented, the mining and uncle reward is reduced to 3 ethers and 0.625-2.625 ethers, respectively. No. According to the terms agreed by all parties on the 2014 presale, issuance of ether is capped at 18 million ether per year (this number equals 25% of the initial supply). This means that while the absolute issuance is fixed, the relative inflation is decreased every year. In theory if this issuance was kept indefinitely then at some point the rate of new tokens created every year would reach the average amount lost yearly (by misuse, accidental key Continue reading >>
How Many Bitcoins Are Yet To Be Mined?
The galloping growth of price of Bitcoin and Ethereum increases the hype around digital currencies. There is a growth of both money supply and investments in both BTC and ETH. More and more often we see questions on how much bitcoins and ether have been mined and can the supply meet everybodys demands. Bitnewstoday aims to answer these questions in the following article. Cryptocurrencies with limited and unlimited supply Digital currencies can be divided into two types: with fixed supply, when a limit of coins emission is pre-installed in their structure, and with uncontrolled supply, when coins, contrariwise, can be mined forever. Among the 25 most capitalized cryptocurrencies, 17 (or 68%) of them have a limited supply. These are: Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC) etc. Remaining 8 cryptocurrencies of the list have no emission limits for example, Ethereum (ETH), Monero (XMR), NEM (XEM) etc. You can check out the chart below to see the distribution of mined coins which have a limited supply. Table 1 Emission of 25 most capitalized cryptocurrencies Source: Bitnewstodays calculations based on Coinmarketcap data At the press time, more than 16.7 mln of bitcoin already circulate on the digital currency market, which makes 79% of established bitcoin supply limit. In other words, only 4.3 mln of bitcoins remain to be mined. Bitcoin supply speed is written in its code and is strictly limited. Every 4 years, the mining halves. Apart from this, as the stats below show, every new block is harder to mine every new month. Somewhere around 2140 the last 21 millionth bitcoin will emerge, and it is hard to predict what happens next. Some experts believe that at that time the price of Bitcoin will be more than a thousand times larger than the current one d Continue reading >>
What Will Happen When All Bitcoins Are Mined?
What Will Happen When All Bitcoins Are Mined? Last updated on December 12th, 2017 at 10:45 pm There are only 21 million Bitcoins available for mining. Once all of those Bitcoins have been mined, no more new Bitcoins will ever be created. This stands in stark contrast to national currencies, which are constantly expanding. Governments like to encourage inflation, so they generally increase the money supply. This leads to the devaluing of currencies, however, and in practice, it can reduce the wealth held by individuals and families. For Bitcoin, there is no parallel devaluation. If anything, Bitcoins should become more valuable over time as the number of Bitcoins entering the system decreases. Not only is the total supply of Bitcoins capped at 21 million, but the flow of new Bitcoins into the market has also been tapering off. Roughly every four years, the number of Bitcoins awarded for mining a block is cut in half. When Bitcoin miners mine a new block of transactions they are rewarded freshly minted Bitcoins. Originally, 50 Bitcoins were earned for mining a block. Then it dropped 25 Bitcoins, and then to 12.5 Bitcoins . In 2020, itll drop to 6.25 Bitcoins. Thus, while a government may constantly increase its money supply, Bitcoin has built-in features that encourage the exact opposite. The decreasing flow of new Bitcoins and the 21 million cap will help ward off inflationary pressures. Also, there are many lost Bitcoins that were stored on old hard drives that were thrown away and can no longer be recovered. This makes the total supply of Bitcoins actually lower than 21 million. If youre already familiar with the whole bitcoin mining process and how the blockchain works, feel free to skip down to the next section. If not, well quickly bring you up to speed. Bitcoin mi Continue reading >>
How Many Eth Coins Will Exist In Total : Cryptocurrency
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