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Is It Worth Mining Ethereum 2017

3 Reasons Why Ethereum Mining Is Profitable In 2017

3 Reasons Why Ethereum Mining Is Profitable In 2017

The answer is yes. Ethereum can be mined with power efficient GPUs. On top of this, the value of Ethereum is steadily on the rise. Both of these factors are fantastic reasons to mine Ethereum. This is the projected mining profitability of the Radeon R9 295 X2 . As you can see, youll make over $800 USD annually per card. This means youll break even in less than a year and generate passive income. Since the price of Ethereum is steadily rising, your profit margin will increase even more. Ethereum is similar to Bitcoin, yet it has two key differences that have been crucial for its success: Smart Contracts and the shift to proof of stake . Unlike Bitcoin, the coding language used for Ethereum makes it much easier for programmers to develop programmable money, or Smart Contracts. This is revolutionary in the world of cryptocurrencies and opens many doors for the future. Ethereums second key difference from Bitcoin is its shift from proof of work to proof of stake. Before you can understand proof of stake, you must understand proof of work. Blockchain technology was created in 2009 when Bitcoin was released. In essence, a blockchain is a database. In the world of cryptocurrencies, the blockchain is a database of transactions. If someone tries to initiate an invalid transaction, the blockchains code will determine that its invalid and it will reject the transaction. If someone were to say they mine Bitcoin, Ethereum, Litecoin, etc. it means they are setting their computer to solve the cryptocurrencys algorithm. The computers adding the transactions to the blockchain are executing extremely difficult tasks. Its basically a guess and check system in which your computer is constantly checking the code until it finds the solution. This is all to prove a valid transaction on a blo Continue reading >>

Beginner's Guide To Ethereum Mining In 2017 - How To Mine Ethereum On Your Pc?

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 Calculate Mining Profitability

How To Calculate Mining Profitability

CoinDesk Launches 2017 Year in Review Opinion and Analysis Series Are you serious about mining cryptocurrencies? If so, you need to know how to make the best use of your money and equipment. In this guide, well show you how to mine your digital treasure in the most profitable way. Obviously, the big money is going into costly bitcoin ASICs. If you arealready in that position, you probably know how the process works and are intending to mine bitcoin. However, those of you on a more moderate budget are probably looking at building a GPU miner for scrypt currencies, or a buying a small ASIC machine for bitcoin or other SHA-256 currencies. In that case, you have come to the right place. The process of mining digital currencies involves solving complex cryptographic puzzles. By doing this, miners are providing proof of work that is rewarded with digital currency. Broadly speaking, there are two proof-of-work hashing algorithms in use today: SHA-256 and scrypt . Note that there are some lesser-used alternatives, which we will not be looking at in this guide (for example, Primecoin ). The SHA-256 algorithm favours raw processing power. In bitcoins very early days, one could mine effectivelywith the CPUs and GPUs (graphics processing units) that you find in a normal home PC. That time has passed, however, and the difficulty level of bitcoin is so high that specialised processors known as Application Specific Integrated Chips (ASICs) are needed to mine it. The use of such powerful processors, alongwith bitcoins exponentialincrease in difficulty level,have created a technological arms race, which means that even quite recently designed chips can quickly become obsolete. The scrypt algorithm favours greater amounts of RAM and parallel processing ability, which is why GPU-based ri Continue reading >>

Is Ethereum Mining Profitable And Worth It In 2017?

Is Ethereum Mining Profitable And Worth It In 2017?

Is Ethereum Mining Profitable and Worth it in 2017? As the price of Ethereum hovers around $300, you may be wondering to yourself whether or not its worthwhile to begin mining. Like Bitcoin, Ethereum is a proof-of-work coin that uses miners to confirm network transactions. The profitability of mining varies from person to person and changes over time usually becoming less profitable as the coin matures. There are three important factors to consider when figuring out if Ethereum mining will be profitable for you: Putting it simply, your mining rig needs to solve a mathematical algorithm to mine Ethereum. The mining difficulty of the network is a measurement of how difficult this algorithm is to solve. The higher the difficulty, the less Ethereum you receive for each unit of energy the GPU on your mining rig expends. As more miners join the network, this difficulty increases. The Ethereum mining difficulty had been steadily increasing since July but recently dropped from a high of ~3,000T to ~1,500T. This dip was caused by the Byzantine fork but isnt as advantageous as it seems. Even though the difficulty decreased, the block reward also decreased from 5 ETH to 3 ETH effectively canceling out any benefit from the difficulty change. You can view the past and current difficulty on the Ethereum network at CoinWarz . The hash rate is the speed in which your mining rig can solve the mathematical algorithm needed to validate a transaction. New miners are constantly entering the market with better and faster hash rates. Theres more to buying a miner than just picking the one with the highest hash rate, though. Miners with a high hash rate usually come with a high price tag. On top of that, they also typically use more electricity as they operate which could further drive your c Continue reading >>

Ethereum Mining Is Profitable, But Not For Long

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 >>

Were Mining Ethereum Again This Is How Much We Are Making

Were Mining Ethereum Again This Is How Much We Are Making

Were mining Ethereum again This is how much we are making Toward the end of 2017, we switched the software on our GPU mining rig from Claymore mining Ethereum to NiceHash. Our returns with Ethereum had been dropping rapidly , and the amount of time it took to mine 1 ETH had grown from just over 200 hours to 800 hours in three months. With the price of Bitcoin rising as our Ethereum returns dropped, we switched to NiceHash which let us mine altcoins which were then exchanged for Bitcoin. All was grand from there, until the massive NiceHash hack in December 2017. NiceHash was taken offline while the hack was investigated and our 6x RX580 rig was left idle. This proved fortuitous, however, as the start of our Ethereum mining coincided with a sharp rise in the cryptocurrencys price. When we started mining Ethereum in June 2017, it was worth around $360 and we made 1 ETH in under 10 days. This slowed to 1 ETH every 33 days around the middle of September 2017 when Ethereum had dropped to $260. With the returns dropping both in terms of Ethereum and US dollars and therefore rand we switched to NiceHash to bring in Bitcoin. After the NiceHash hack in December where we lost around $50 worth of Bitcoin at the time, as it was in the NiceHash wallet we downloaded the latest version of Claymore. The plan was to mine Ethereum in the interim while NiceHash was secured and brought back online. NiceHash has since come back online, but our rig is still humming to the sound of Ethereum mining thanks to its rise in price. Our Ethereum returns are still low, and we currently average a bit under 0.5 ETH per month with the rig performing at 120Mh/s. However, as Ethereum is sitting above the $1,200 mark (at the time of writing), our US dollar returns and by extension, our rand returns are muc Continue reading >>

Is It Worth It To Start Mining Ethereum? [june 2017] : Ethermining

Is It Worth It To Start Mining Ethereum? [june 2017] : Ethermining

Yup go look on whattomine there are literally tons of profitable coins out there to mine. Cryptocurrency as a whole is just starting to gain mainstream appeal and with that I really think it will boom. Ethereum really has made it show that crypto can be more than just a currency. We're only starting to see the potential. I really hope more miners and people investing can see crypto for what it is in the long term and not just some quick cash grab. Continue reading >>

To Mine Or Buy Ethereum/zcash/monero In 2018

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 >>

It Is No Longer Worth It To Build An Ethereum Mining Rig

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 >>

Ethereum: Gpu Mining Is Back But For How Long?

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 >>

2 Answers - Is Mining Ether Still Profitable? It's July 10th, 2017. - Quora

2 Answers - Is Mining Ether Still Profitable? It's July 10th, 2017. - Quora

Is mining Ether still profitable? It's July 10th, 2017. Build online business w/ Shopify. No hassle, just start selling. Shopify has all that you need. Trusted by over 500,000 businesses. Start your 14-day free trial today! I posted a great dive into this around June. You can read it here: Is Crypto Mining a Profitable Side Hustle? One rig was netting me almost $1000 per month then. Now, its only at about $130. Difficulty has changed. The currency price has also changed. The best way to figure current profitability is to go to whattomine . There you can enter the hardware you want to buy and your cost for electricity. Itll calculate current profitability. The real question to ask yourself is should I just buy Eth or should I mine it? Almost any way you look at it, the number favor buying. So if you go the mining route, consider other factorssuch as: Do you enjoy it? Does it cause your to constantly build your crypto portfolio in a way you wouldnt otherwise? It would probably be more profitable to sell all my gear now, but I enjoy it and this is a way for me to consistently build up my portfolio. Also, if prices see another jump up, we could potentially be exceptionally profitable again. Who knowsthere are a lot of risks and variables that make your question complicated to answer. Continue reading >>

Is Gpu Mining Still Profitable In September 2017? - Ethermining

Is Gpu Mining Still Profitable In September 2017? - Ethermining

Is GPU mining still profitable in September 2017? Hi, I'm new to mining, I've been reading about it for 3 or 4 months. When using a profit calculator, I noticed a few days ago that the profit for each GPU went from $130~140 down to $40~50 in about a month? What's happening? What in the world GPU were you looking at that was going to be getting you $130 a month? Well a month ago Vega 64 was supposed to do 100mh/s. Now not so much, LOL. Probably when he was reading into mining around May - June, the good ol' days. Saw charts for 470 getting 2 months ROI back then. As for profitability I'll keep on mining as long it covers electricity cost We appreciate all new Redditors on /r/EtherMining and want to ensure you have the best resources available to you. Since your account is fairly new, we'd like to remind you about our subreddit's Wiki Guide to Mining . Please take a look through this guide for answers to common questions. I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns. I remember calculating the profit for RX580's ~29MH/s and ~120W, it was around $130/GPU not so long ago. That was a very brief time when eth exploded, market had corrected. The simple fact is if it's too profitable then difficulty and prices correct so mining stays about the same profitability with blips when coins explode. 18% jump in difficulty overnight on Aug 24th/25th. Difficulty has more than doubled in 2 months off etherscan charts from July 1st (991) to Sept1 (2223). So we are making half of what we were just a couple months ago. We're already looking at moving our systems over to other altcoins. Continue reading >>

Is It Worth It To Start Mining Ethereum? [december 2017]

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 >>

Mining Is It Still Worth It?

Mining Is It Still Worth It?

I read somewhere that ETH is now the best choice. Just a question now what equipment choose? Well if you have free electricity and good farm of miners and cold climate for getting the machines cool down yes you will make profit. but if any of those is missis we probably not gonna make money. It gives rather good profit. But u have to spent lot of time in search of coins for you. While u get profit more then u pay for electricity - it`s profitable. You have many calculators out there. Check these links (WhatToMine - ETH Ethereum mining profit calculator) On the second link you could also add your hardware costs to the calculations. Consider that the difficulty of ethereum continually rises and there is also the difficulty bomb. I think if you invest today, you need at least one year to compensate your initially hardware costs (with the current difficulty). --- Double Post Merged, Dec 2, 2017, Original Post Date: Dec 2, 2017 --- In addition, you could also use nicehash or miningpoolhub and they will search the "best" coin for you. Therefor you have to pay a fee. It is profitable if we get cheap electricity, cold temperature environment and long life equipment. Mining slowly dying I think. Now more and more projects are using the Protocol POS and not POW. after all, the POS is more convenient, requires less electricity and the network weights. Just read that in 5 years will profitably mine the same BITCOIN only at a price of 300 thousand dollars. You should also consider the expenditure side of the case. Permanent damage of the cards, their the cliff, renting a room. After all, the house won't do it. Heat and constant noise. Well if you have a garage. In General earn of course you can. Profitability now is somewhere 10-12 month to earn the first money. Well, depending of Continue reading >>

How Much Can You Make Mining Ether And How Much Does It Cost To Run? <ethminer 75 Days In>

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 >>

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