Is Ethereum Mining Profitable In 2018?
In this article we will try to figure out the profitability of Ethereum mining As the price of Ethereum isaround $1000 you may be wondering to yourself whether its worthwhile to mine ETH. 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. In this article we will try to figure out the profitability of Ethereum mining. There are three important factors to consider: In a word, 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 the difficulty increases. The Ethereum mining difficulty had been steadily increasing since the beginning of December with 1,500TH to ~2,500H. EtherscanEthereum Block Difficulty Growth Chart The daily block rewards of ETH have hardly changed since December and it is currently ~20.339 ETH. The hashrate is the speed in which your mining rig can solve the mathematical algorithm needed to validate a transaction. Miners with a high hashrate usually come with a high price tag, but they also typically use more electricity as they operate which could further drive your costs up. Average hashrate of ethereum network has increased since December from ~125492GH/s to ~203394GH/s, which is the highest rate of all time at the moment. Etherscan Ethereum Network HashRate Growth Rate Each mining rig works at a different level of efficiency and uses a variable amount of electricity. On the low end, miners typically draw ~100 Continue reading >>
When Will The Ethereum Mining Craze End?
Please review the Stickies pinned at the top. For BADGES please READ the FAQ for DETAILS. Follow @LTTCompute 30 Jan 2016 Please review the various posts pinned at the top of the forum section for lots of good information on basic installs, setup and questions. For BADGES please READ the FAQ for the DETAILS.Also, don't forget to follow @LTTCompute on twitter for random tweets, posts and updates... ya, random! Location: Portland, Oregon. Stop moving here, please. It's currently impossible to buy any AMD GPU or Nvidia GPU below a GTX 1080 anywhere right now. For those of us looking to build a gaming PC or upgrade our current GPUs (I'm in that boat right now), it's frustrating that people are buying GTX 1070s in sets of 6 to mine away their power bill and electricity produced by the planet's resources to make a little bit of money on the side that will eventually lose all of its value. A friend of mine is building a PC for 1440P gaming and content creation and barely managed to snag a Founder's Edition 1070 for $399 a week ago when they were in stock for a few minutes. GTX 1060s are now selling *used* for $350 all over Amazon and Craigslist. This is ridiculous. From what I gather from users on this forum, the craze has extended far beyond North America. | PSU Tier List / PSU Whitelist / 80 Plus Efficiency | I like Power Supplies for whatever reason. Feel free to PM me with any questions. System: "External links are not allowed" || Resources for PSU information: "lol can't do that either"|For Corsair support tag @Corsair Joseph or @Corsair Blake BingoFishy , iamdarkyoshi , Deli and 2 others reacted to this It's impossible to get AMD cards here (the Netherlands) that are not RX 550's or R5 250 or whatever and now all the not 'ITX versions' of the GTX 1060 are gone and pretty Continue reading >>
When Will My Graphics Card Stop Mining Ether? | 2miners Blog
When Will My Graphics Card Stop Mining Ether? Just simple math. Not magic. Come in, sit down, lets make some calculations together. DAG is a dataset over 1GB in size used by Dagger Hashimoto algorithm (Ethash) to find block solutions in the blockchain. The main coin for Ethash, of course, is Ethereum. However, there are many others: Ethereum Classic, Musicoin, Ubiq, Daxx, Whale, Pegas, Expanse, Dubaicoin, Soil, etc. When launching the miner, it is the DAG file which uploads into the graphics card memory. Lets take Claymores miner as an example: Over time DAG file size increases, which happens every 30,000 blocks and is called an epoch change, so each epoch corresponds to a specific DAG size. To find out your current DAG size, we recommend using this website: . It shows the current DAG size for main Ethash currencies calculations is based on the block number. Remember that each block corresponds to a specific epoch, and each epoch corresponds to an exact DAG size. DAG size is calculated based on the specific algorithm , which you can find here and you can check for yourself to see if it really works or not. Weve tested it - and it does work. By the way, all the DAG values have been calculated and organized a long time ago, so you can use them at this extract . Every Epoch DAG File Size Increases by 8 MB The block time differs from coin to coin: ETH - 30 sec, ETC - 15 sec, EXP - 90 sec. That means that Ethereum Classic reaches 30,000 blocks 6x faster than Expanse. Thats why ETCs current epoch is 151 (DAG=2,18GB), while that of EXP is only 25 (DAG=1,2GB). Well, we have to admit that its not fair to compare those two, as the latter came out a bit later. Lets take a look at the Ethereum blockchain. It takes 900,000 seconds (30 seconds 30,000 blocks) to change an epoch (900, 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 >>
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 End Ethereum Community Forum
This PoS really sounds like shit tbh.. if this is really the case how this will work then i don't see many people going this route and slowly ETH will die, if you need to invest money in a block and have the chance of losing your money and this will be like playing in the casino and then ofc those that's rich in ETH already will be the only ones that will benefit, they really need to make this work for both parties and not just for those that have the upper hand and have tons of ETH already to spend. But won't ETH then slowly die if there is nothing for miner's anymore? when it switch to PoS, I mean is miner's not keeping the crypto currency alive, if there is nothing for miner's then we won't be here and will lose allot of interest. If you examine p2p currency as a whole you will see this is where it breaks down and this is where eth could perhaps save it. You are right there about mining and it will die out for investors that are looking to do nothing but plug in the miner and wait for 3 month ROI's. Nothing in the world could work like that and be sustainable. Mining should be highly profitable at the start because miners are taking a chance at perhaps nothing but after that mining has to be only profitable by a few percent. Think about what you're saying from an economic standpoint. There just isn't enough transactions to go around for everybody to make a killing on mining, and since it requires very little investment compared to ROI and very little effort, there is nothing stopping from anyone doing, which eventually leads to accelaration of diff, artificial price points and and eventual crash of the currency. (i think I just explained BTC in 2 lines) Yea makes sense, reason i don't even bother mining on BTC anymore the diff is so hard it's costing you more electr 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 >>
Will Ethereum Mining End Soon? If So, Then What Can I Farm With My Rx480 Instead Of That?
Will Ethereum mining end soon? If so, then what can I farm with my RX480 instead of that? There are many other mining options. And I dont necessarily think PoS will happen soon. There is a lot riding on doing it properly, so I expect it to be rolled out in a disciplined manner instead of rushed. Go to whattomine.com and look at the GPU tab. There are a ton of coins. Once Eth goes PoS, youll have miners moving to other coins and probably selling their cards, so youll see a shake up of earnings, but ultimately, there is plenty of crypocurrency that needs mining power. Also, you can mine to Nicehash, which automatically utilizes your GPU power toward whichever currency/need is out there. Its generally as profitable as Ethereum mining and theyll pay you out in whatever currency you want. For more info on all of this, check out my post GPUs are fairly generalized computation devices. You can use them to mine ALL other cryptocurrencies, however, not all will be profitable to mine. There are many up and coming cryptos that will be profitable. For example, Enjin coin, DNotes etc. You can get the full feasibility report from here Cryptocurrency Mining vs. Bitcoin Mining Profitability . Id suggest you stay away from all cryptos that are based on the following algorithms : SHA-256, Scrypt and X11, since for these, ASICs have already been developed and your GPUs dont stand a chance competing against that kind of computing power. Continue reading >>