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 Do You Mine Ethereum?
By Nathan Reiff | February 9, 2018 3:18 PM EST Ethereum, like most cryptocurrencies, relies on the work of miners. While it's easy to assume that miners work to generate ether tokens (ETH) so that these tokens do not need to be created by a central issuer, there is more to the process of mining than this. ETH is generated through the mining process at a fixed rate of 5 ETH per block. Mining is also essential for a variety of other reasons: it helps to provide a log of the total pool of ETH which is available through the ethereum blockchain, thereby preventing fraudulent activity. It can also be a profitable venture for an individual. Before one can begin the process of mining ETH, though, it's essential to know a bit about how ethereum mining works. (See also: What Is Ether? Is It the Same as Ethereum? ) The process of mining for ethereum is very similar to that of bitcoin mining. Miners utilize powerful computers to make educated guesses about complex mathematical problems. This system is known as " proof of work ," because it requires that miners go through the puzzle-solving process in order to receive their ETH reward. Mining is accomplished by running unique metadata like timestamp and software versions for a block of transactions through a hash function repeatedly. Each repetition alters the " nonce value," which has an impact on the resulting hash value (a scrambled string of letters and numbers with a fixed length and a random appearance). If the hash value matches up with the current target for the block, the miner is rewarded with ETH, and the block is transmitted across the network so that each node in the network can validate the process and update the blockchain ledger. Other miners who had previously worked on solving the puzzle will move on to the next b Continue reading >>
How To Mine Ethereum
Register for the ICOs and Regulation Webinar on March 22nd at 11AM EST Now that you know " How Ethereum Mining Works ", you may want to know how to compete in the race to mine ether yourself. To recap, mining is the glue that holds ethereum's 'decentralized app store' together by ensuring that it comes to consensus on each change to any of the applications (dapps) running on the network. Take the online notebook described in " What is Ethereum? ". The network would not come to consensus about the 'state' of the notebook (say, if a note is added or deleted) without the computational power to process the changes. Miners set computers loose to solve cryptographic puzzles in an attempt to win ether, and they need to try a huge number of computational problems until one unlocks a new batch of the asset. One of the interesting things about open blockchains is that, in theory, anyone can set their computers to focus on these cryptographic puzzles as a way to win rewards. The catch is that mining on major public blockchains tends to require more and more power over time, as more people invest inmore powerful hardware. In this day and age, those mining with low-powered setups are unlikely to win, but it's still a viable past-time for hobbyists and enthusiasts alike. Before getting started, you will need special computer hardware to dedicate full-time to mining. There are two types of mining hardware: CPUs and GPUs. GPUs boast a higher hash rate, meaning they can guess puzzle answers more quickly. At time of writing, GPUs are now the only option for ether miners. Settling on a GPU is a complextask and you can browse plenty of advice about which ones are the most profitable based on hash rate performance, power consumption and the initial expense of the card. You probably want to 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 >>
How To Mine Ethereum: Complete Beginners Guide
First you need a computer, or graphics card, that is capable of computing an algorithm that it attempts to solve in order to generate some Ether. For Ethereum, the block that your video cards are attempting to find generates on average every 15 seconds. That means every 15 seconds, the Ethereum network pays to whomever found the block, 5 Ethereum (this value may change over time). It should be noted that at some point in the future, Ethereum will be switching over to proof of stake with their Casper Fork which will mean it can no longer be mined. There are currently many options for Ethereum Miners depending on the type of Video Card, the amount of video cards you want on one motherboard, and the power requirements. 6x Video Cards (Minimum 3GB, 4GB recommended) Best Hash/Price Recommendation: Radeon RX 570 4GB Ethernet cable (do not run wifi), power button for motherboard, fans for cooling With this setup, youd find on average around 0.5Eth per month. This will change depending on the Ethereum Mining Difficulty, you can use the website WhatToMine to make calculations of your earnings or find other profitable coins to mine. It is important to consider the difficulty to measure whether to continue mining Ethereum, or whether to switch to another algorithm or coin to mine. Unfortunately, for someone looking at building just a few mining rigs, they may never find a block solo-mining. Therefore it is necessary to join a mining pool. A mining pool combines the hashrate of all the miners, and vastly increases the chances that the group is able to find a block. This therefore allows you to get a steady payout from the pool, even if you yourself never find a block. There are some choices for Ethereum mining pools which vary depending on how their overall hashrate, the fee struc Continue reading >>
Ethereum Price: How To Mine Ethereum And How Does Ether Work?
Ethereum price: How to mine Ethereum and how does Ether work? Ethereum price: How to mine Ethereum and how does Ether work? ETHEREUM has taken the cryptocurrency market by storm over the past 12 months, rising exponentially to become the second biggest crypto on the planet. But how can you mine Ethereum and how does it work? Ethereums price has stalled on the market over the past few weeks plunging more than 50 percent from an all time high of $1,433 on January 13 to about $700 today (February 5). Below is a beginners guide to Ethereum mining, but be aware the process requires more computing power than when the cryptocurrency was first released. Ethereum is an open software platform that, like bitcoin , is based on blockchain technology, enabling users to build decentralised applications. Launched by Vitalik Buterin in 2015, Ethereum aims to allow users to make anonymous digital payments across international borders without the need of a traditional bank or third party. Ethereums cryptocurrency Ether (ETH) can be mined by setting a computer to solve cryptographic puzzles. Whenever your computer cracks the code, you will be rewarded with five Ether coins. LiteCoin is going down with the market dip Once you have a wallet, you are ready to download the software necessary to mine Ethereum. Be extremely careful at this stage of the process as there is a lot of malware online designed to steal your cryptos. A full guide to GPU mining can be found on Ethereum.org. Ethereum mining requires a special GPU dedicated to the process, though you might want to consider the more expensive option of a mining rig, made up of multiple GPUs. In the early days of Ethereum, miners could get away with less powerful machines but, as more ether tokens were found, heavier-duty tech was required 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 >>
Ethereum Mining - Why You Should Invest | Genesis Mining
Enigma - The worlds largest Ethereum Mine Ethereum Mining is a computationally in-depth work that requires a lot of time and processing power. A miner gets rewarded for providing solutions to challenging math problems via blockchain technology, just like bitcoin mining . Ethereum is the first world computer. It is a decentralized network that can be used by anyone and is capable of running applications with no possibility of downtime, censorship or fraud. Like all crypto currencies, the future of Ethereum remains uncertain, but the tone of the conversation surrounding Ethereum is different than almost any other crypto currency. Discussing the excitement, Genesis Minings CEO Marco Streng stated, We believe it is headed to the moon and we are building a rocket ship to make sure our customers do not miss out. Ethereum is one of the fastest growing cryptocurrencies next to Bitcoin, the native digital currency which has been taking the world by storm. Just a year and half ago, the price of Ethereum was $1, now it is well over $300 with an all-time high of over $400. The rapid growth of Ethereum mining excited investors who were eager not to miss out on another hyper-growth investment opportunity. The price of mining ethereum is $29 per MH/s, reduced from the past rate of $44 per MH/s. Discussing this price change, Genesis Mininig co-founder and CEO Marco Streng stated, Every day, we are working to reduce operational costs to mine on behalf of our 200,000 customers and every time we have the opportunity to provide greater ROI potential and value to our customers, we are honored. Our Ethereum cloud mining farm, Enigma, is the largest Ethereum cryptocurrency mining farm in the world. We have continued to expand our Ethereum mining rigs and hardware to keep up with the growing Continue reading >>
How Does Ethereum Mining Work?
Largely the same way Bitcoin mining works today. When a new block is created, every mining node works to solve the next block. This is accomplished by hashing the previous block header and adding a random bit of data until the hash result (which can be interpreted as a number) is less than a target defined by the network. The process of hashing is such that the results are random and impossible to predict, so the only way to solve this problem is through brute force. Once this hash is below the value of the target, the block is sent out to the network, with all the transactions that have been collected, including a transaction to pay the miner the block reward and transaction fees. Then the process starts again. This process is how Ethereum currently works, but soon, the network will be moving to Proof of Stake, which does not have block rewards. You can read more about that here . Ethereum is mined largely in the same way mining of Bitcoins is done. During mining process, when a new block is created, every mining node works independently to solve the next block in the same way. This process of block to block management system is known as Blockchain Management Technology. One can easily mine ethereum with Hashgains using three simple mining steps. These include: Select your best power plan and make the payment accordingly. Collect your newly mined coins through wallet. In addition to Mining Bitcoins , you can mine multiple cryptocurrencies and use their power performance easily. This also increases the hashing power of mining Bitcoins and various other cryptocurrencies in an easy and effective way. This is accomplished by hashing the previous block header and adding a random bit of data until the hash result is less than a target defined by the network is achieved. Eth Continue reading >>
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 >>
How To Mine Ethereum On Your Pc
Hoover up some Ether using your home computer The cryptocurrency revolution is largely down to enthusiastic 'miners', who build or use their own machines to perform the complex proof of work algorithms to process data blocks, creating more of their chosen currency such as Bitcoin and Ethereum. Specialized mining equipment is available online and you can even rent processing power from companies such as Genesis Mining (weve got a guide on how to do this here ). However, if your home computer is powerful enough there's no reason you can't get started mining Ethereum today. In this guide, you'll learn how to use the friendly MinerGate client. This handy program quickly and easily connects you to MinerGate's mining pool from where you can share some of your machines resources, and then subsequently share in the rewards of generating Ether. Before you begin, remember that the actual amount of hard cash you'll make from doing this will vary depending on the mining difficulty, the fluctuating price of Ether and how powerful your hardware is. MinerGate has a built-in benchmarking tool to give you a rough idea how much you stand to make per year, although this doesn't take into account the electricity used by your machine. Open your browser and navigate to . Click on the button marked Download Miner & Start Mining. If you're using Microsoft Edge, you can click Run to launch the installer at this stage. Windows 10 will ask you to confirm that you wish to allow MinerGate to make changes to your system. Click Yes. Setup will now launch. Close down any other open apps and agree to the license agreement. On the next screen (Install Options), select Add MinerGate to the system PATH for current user as well as Create MinerGate Desktop Icon. Click Next, then Install. Once MinerGate has Continue reading >>
Mining - How To Mine Ether And Use Ethereum On Windows? - Ethereum Stack Exchange
How to Mine Ether and use Ethereum on Windows? Which programs should be installed and what do you need to do to start mining Ether and use Ethereum? The first thing you need to do is go to this link download Geth . (The latest version is always available as Geth-Win64-latest.zip) 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. You need to unzip the GETH file and move it to a location on your hard drive. (Right click on the zipped file and select unpack.) 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. 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. Command Prompt is now open. (It can look terrifying to people who aren't familiar with it!) showing in it - where Username is your username - so if you log into your computer with the username cryptocompare, then the command prompt box will open with: You need to tell the computer to look in another place. Into the newly opened command prompt, type: You have just used the cd command or "change directory" command to make command prompt look at the C:/ drive. You need to tell your Geth program to create a new account. As you have installed it in your user directory in Step 2, it is just a simple case of typing in: After hitting the enter button in Continue reading >>
Home - Ethermine.org - The Fastest Way To Mine Ether
Then start your miners by putting the following commands into a bat file setx GPU_FORCE_64BIT_PTR 0setx GPU_MAX_HEAP_SIZE 100setx GPU_USE_SYNC_OBJECTS 1setx GPU_MAX_ALLOC_PERCENT 100setx GPU_SINGLE_ALLOC_PERCENT 100ethminer.exe --farm-recheck 200 -G -S eu1.ethermine.org:4444 -FS us1.ethermine.org:4444 -O
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 >>