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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 >>

Ethereum: What Is Ethereum Mining? - The Economic Times

Ethereum: What Is Ethereum Mining? - The Economic Times

The maximum number of bitcoins are capped at 21 million while the total ether supply has no such cap Ethereum mining is fundamentally similar to bitcoin mining. Both use proof of work (PoW). PoW is a competitive activity that miners undertake to write transactions to a new block that will be added to the blockchain . A miner successfully mines a new block while competing with fellow miners by running a hashing script. Karan Bharadwaj, CTO of XinFin said, The specific scripts used in mining for bitcoin and ethereum are SHA-256(based script) and Ethash. Each block mined on ethereum also gives a payout of 5 ether to the miner. The bitcoin payout per block mined is 12.5 BTC that is set to halve to 6.25 in 2020. The maximum number of bitcoins are capped at 21 million while the total ether supply has no such cap. The developers behind the ethereum blockchain are working on shifting the mining algorithm from Proof of Work to Proof of Stake (PoS). PoS allows for the creation of new blocks with the expensive process of PoW mining. In PoS, each node participates in the consensus mechanism in a proportional manner to the stake (of the Ethereum blockchain) held by it, said Bharadwaj. With this shift to PoS, the block reward goes away and the miners are paid only in the form of transaction fees. This shift to PoS is going to remove the wasteful energy intensive process of mining while introducing additional security benefits to an already robust protocol. However, it is important to note that this is a very challenging implementation and not without complications. Rachit Chawla, CEO, Finway Capital said, Somewhat similar to bitcoin, Ethereum is also a popular cryptocurrency and ethereum mining is the process of mining ether; platform-specific cryptographic token, or simply, a uniqu Continue reading >>

Unicef Recruits Gamers To Mine Ethereum In Aid Of Syrian Children

Unicef Recruits Gamers To Mine Ethereum In Aid Of Syrian Children

Unicef recruits gamers to mine Ethereum in aid of Syrian children Cryptocurrency scheme is part of wider UN effort to revolutionise aid with blockchain technology, increasing financial transparency Last modified on Tue 6 Feb 2018 03.29EST Representation of the Ethereum virtual currency. The World Food Programme has used Ethereum to deliver $1.4m in food vouchers to Syrian refugees in Jordan.Photograph: Dado Ruvic/Reuters The UNs childrens agency, Unicef, has launched a futuristic pilot project to utilise the cryptocurrency Ethereum to raise money for Syrian children. The scheme is part of wider efforts by Unicef and other UN agencies to find uses for the blockchain technology associated with the cryptocurrency the worlds second largest after the controversial Bitcoin to revolutionise not only how aid organisations raise money but also to increase transparency in their financial transactions. Blockchain which emerged as one of the underpinnings of Bitcoin is a shared record of transactions maintained by a network of computers. It has become a key technology because of its ability to record and keep track of assets or transactions with no need for middlemen. Although cryptocurrencies have accrued an often dubious reputation, the recent moves suggest their growing potential in the complex world of humanitarianism, with its huge budgets and requirement to raise and move cash quickly. Unicefs Game Chaingers scheme recruits gamers to use the processing power of their computers to mine the currency for Syrian children. It is still in its infancy, raising little more than 900 (795) so far, but it follows increasingly high-profile efforts by the UN to find uses for the technology. These include everything from helping to reduce the 30% of UN aid budgets lost to corruption to bu Continue reading >>

Ethermining

Ethermining

This is our official in-depth guide to mining across Windows, Linux, and ethOS. Please take a glance if you are new and have basic mining questions. Use of this site constitutes acceptance of our User Agreement and Privacy Policy . 2017 reddit inc. All rights reserved. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. Rendered by PID 113022 on app-239 at 2017-12-14 09:04:44.521872+00:00 running 23f3124 country code: US. Continue reading >>

Mining - How To Mine Ether And Use Ethereum On Windows? - Ethereum Stack Exchange

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 >>

5 Best Ethereum Mining Pools To Join 2017 / 2018 (comparison)

5 Best Ethereum Mining Pools To Join 2017 / 2018 (comparison)

Jordan Tuwiner Last updated July 13, 2017 Once you get Ethereum mining hardware , your next step is to decide on which Ethereum mining pool youll join. A mining pool helps you get more frequent payouts rather than only getting paid when you solve an Ether block. Note that mining has a lot of up-front costs, and if you just want Ether than its usually a better idea to just buy Ethereum . Youll also need Ethereum mining software to point your hardware towards your selected pool. And, an Ethereum wallet to receive payouts to . Weve listed the top pools in order of hash rate share according to Etherchain : The pools below are mining pools. This means you need to own mining hardware. If you want another company to mine for you you need cloud mining . Ethpool and Ethermine are two different sites although they appear to be basically the same pool. They are currently the largest Ether mining pool with about 25% of the networks hash rate. F2pool is also a Bitcoin mining pool. Its Ether mining pool appears to only be available in Chinese, so this is not a good option for most of our readers. DwarfPool is the third largest Ethereum mining pool with about 13% of the networks hash rate. In addition to Ether you can mine a bunch of other currencies like Monero and Dash. ethfans is another Chinese pool with about 8.6% of the network hash rate. If you just want ether, mining is NOT the best way to obtain coins. Buying ether is the EASIEST and FASTEST way to get ether. Get $10 worth of free ether when you buy $100 or more at Coinbase . This section will answer common questions about Ethereum pools. All of the pools are pretty good and ideally you will just want to choose one that is reliable, has low fees, and has a server near you. No, Ethereum mining pools and Bitcoin mining pools a Continue reading >>

The Real Cost Of Mining Ethereum

The Real Cost Of Mining Ethereum

Image Credit: Vitaliy Karimov/Shutterstock Just how profitable is it to mine Ethereum? To properly answer this question, lets start at the beginning: Lets construct a hypothetical mining rig, plug in some reasonable numbers, and come up with a pragmatic analysis of how much you can earn through Ethereum mining. Lets also hold the price of Ethereum static. By removing any profitability from the appreciation of Ethereum from the equation, well be able to correlate the actual rates of return exclusively with hardware, electricity, and any other costs associated with running a mining rig. Our assumption set uses numbers from January of 2018 that you can see below (we have done our best to use reasonable and middle-ground numbers): As you can see here, our hypothetical mining rig is more efficient and profitable than some of the best mining equipment on the market right now. We are assuming four GPUs that mine 40 MH/s each. The hardware specs are four GPUs, plus a processor, a motherboard, and a power supply rated at 1,000 Watts of electricity. The cost of this rig would be approximately $3,000. A reasonable cost of power is approximately 10 cents per kwh. This is below the national average for retail power rates in the U.S. To run a mining rig you will likely pay at least 10 cents per 1,000 watts run for each hour. This means one full day of mining comes with an electricity cost of $2.40. We will also use the block reward and block difficulty from January of 2018 as our base point. And we assume mining with a single rig is only reasonable when working with a mining pool. Some mining pools take up to 10 percent of your earnings, but some of the best only take 1 percent. For that reason, weve pick a modest 1.5 percent. Taking several points across Etherescans historical char Continue reading >>

How To Mine Ethereum In 5min

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 Do You Mine Ethereum?

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

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 >>

Is Ethereum Mining Profitable In India?

Is Ethereum Mining Profitable In India?

Current Network Hashrate: 62015.5576 GH/s With 2000MH/S computational power you will be able to mine approx 1 ETH in a day. With Nvidia 1050Ti you will get ~22MH/s at 130W (Source: Ethereum mining with 2x Nvidia GTX 1050 Ti 4GB Gurdeep Bangar ) This means you will have to buy 100 1050Ti cards costing you around $20000 plus electricity cost. You will be making an aprrox profit of around $200 per day at the current market rate. Ethereum mining is generating more rewards than the Bitcoin mining currently. But as the Ethereum will move to the Proof of Stake the mining equipment will not have use beyond 1 year. I sure think so ! By ethereum, I'm assuming Altcoins (because there are other coins just as good and profitable as ethereum) GPUs are made in US (mostly) and are imported to India making the prices freaking sky-high (GST slab of luxury items). None of the GPUs have local warranty so even if you somehow got them in from the states, you can't claim warranty in India and you have to ship it to US for any claim. (There is only 1 GPU maker (EVGA, I think) who gives international warranty but there are no service centers of that maker in India) So no other way but to pay the local exorbitant price High electricity chargesWhile calculating EB, always count full highest slab for all your wattage as worst case conservative estimate. The lower slabs will be used up for cooking / AC / household stuff. Or you could call it a business-from-home and set a separate electricity meter, but the net bill amount should be approx. the same I think (because of different tax slabs for residential and industrial) Temperature . No point running them in April May June.. Even in other months, India is a dusty country. No other way but to enclose the setup and provide ventilation through ducts Continue reading >>

Best Ethereum Mining Hardware (2018 Updated)

Best Ethereum Mining Hardware (2018 Updated)

Last updated on February 26th, 2018 at 04:04 pm Ethereum (ETH) is a popular choice for graphics card (GPU) miners. In 2018, Ethereum smashed its long-term $400 ceiling, and reached more than $1,000. Ethereums Ethash algorithm is one of many algorithms designed for optimal mining on GPUs. Generally speaking, a GPU is good for mining all GPU-mineable cryptocurrency (including Ethereum Classic , Monero , Zcash , and Vertcoin). This situation gives GPU miners enviable flexibility, in order to be able to switch between over 40 coins that are based on their current profitability. If youre new to mining Ethereum , there are 4 important things you should know: Ethereum intends to switch to a Proof of Stake scheme called Casper. Although this switch has been delayed, its reasonable to expect that it will occur in late 2018. Ethereum mining will no longer be possible after that, unless a hybrid Proof of Work/Proof of Stake model is implemented. If so, rewards to miners will be significantly reduced, with perhaps half of all new coin rewards going to holders instead. Ethereum mining currently requires a GPU with at least 3 gigabytes of Video RAM (VRAM). This VRAM requirement is expected to grow to 4 gigs in 2018. The Ethereum Directed Acyclic Graph (DAG) file is stored in VRAM by miners. The DAG grows in size by remaining proportionate to the mining difficulty. About once every epoch (or 30,000 Ethereum blocks), a new DAG is generated, which must be downloaded in order to continue mining. You can view the current epoch and other Ethereum network stats here . (At the time of this writing, the epoch was 162.) Note that the performance of older cards will degrade with each new epoch. Up to a point, more VRAM will also improve performance. The present difference between a 4- and 8-gi Continue reading >>

Ethereum Mining - Minergate

Ethereum Mining - Minergate

Ethereum is a medium of exchange like normal currencies as USD New units of digital currency are generated by "mining". Our app uses your PC hardware rescoures and puts them to work on mining Ethereum. Ethereum is the most popular cryptocurrency after Bitcoin. It can be used to buy goods or services, held as investment, or exchanged to your national currency. Continue reading >>

The 3 Best Ethereum Mining Pool Options

The 3 Best Ethereum Mining Pool Options

So, youve heard that mining Ethereum can be a profitable business and may have bought a mining rig. Your next step should be to join an Ethereum mining pool. Mining pools are simply groups of miners that work together to mine Ethereum . Joining a pool helps to lower the volatility of your payouts by providing smaller, more frequent payments rather than a lump sum that you only receive when a block is solved. When choosing a mining pool, its important to join one with low fees that brings reliable returns. You should also consider the server location of the pool when deciding which is best for you. The closer your mining rig is to the server, the more efficiently it can mine. In this article, I highlight three of the best Ethereum mining pools so you can confidently decide which one to join: For a complete list of the available mining pools, check out EtherChain . Ethpool and Ethermine are operated from two different websites but contribute to the same pool. With ~25.0% of the network hash rate power, this pool is the largest one on the Ethereum network. Ethermine currently has over 62,000 miners using the pool software while Ethpool has a little under 900. Both Ethpool and Ethermine charge a 1% fee on each reward that you receive one of the lowest fees of the pools I researched. Ethermine allows you to set the minimum payment threshold needed to receive your rewards. If you want to receive your payments infrequently, you can set the threshold to the maximum of 10 ETH. Set your threshold to the 0.05 ETH minimum to receive payments more often. Nanopool is the third largest mining pool with ~13.2% of the network hash rate and over 38,000 miners. The pool fee is also less than most competitors at 1%. The default minimum payout threshold using Nanopool is 0.2 ETH, but youre Continue reading >>

How To Mine Ethereum On Your Pc

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 >>

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