“ethereum mining for dummies best”

“ethereum mining for dummies best”

You can determine the rating for efficiency by dividing the hashrate by the power consumption. Newer cards are usually more efficient. This rating is of prime importance—given that electricity is a fixed, ongoing cost. In other words, the more efficient your card, the more profitable it will be once you’ve received the ROI.
Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest’s website. At the time of writing one Antminer S7’s hash rate can be rented for $1,200.
Proof of Work is where you have to run powerful computers that have high hash rates. Hash rates are the number of “hashes,” or numbers a computer can come up with every second, needed to solve a block. Both of these types of mining have a difficulty factor to them where the more miners there are on the network, the lower the chance you have of mining a block. In other words, the lower your reward is. Here is a good website which has lots of information on the major cryptocurrencies, including their difficulties, block times, and block reward. If you want to check when the last block was mined, and who mined it, you can use this website for Bitcoin, and this one for Ethereum.
The hashrate keeps falling quite fast and a flood of RX cards may hit the market when they’re no longer usable for Ethereum mining. Those who want to mine other altcoins may be possible to pick up some bargains.
The MSI Z170A Gaming Pro Carbon is a great choice of mining motherboard if you also want to use it in a gaming machine as well, thanks to a number of gaming-centric features that you’d usually associate with mobos found in gaming rigs. This means you get four DDR4 memory slots (rather than the more common two slots found in other mining motherboards), plenty of ports and connectivity and even aesthetics to appeal to hardcore gamers. Of course, it’s no slouch in the mining department either, with support for up to seven GPUs. FOr the best versatile mining motherboard, this is a great choice.
had a quick question on setting up geth – I’ve gotten to step 7 and while syncing it keeps generating the same few lines of text (“imported new block receipts, imported new block headers”, etc.) should this be expected? how long does this usually take to complete?
When looking at what people had to say about the ASUS ROG Strix Radeon RX 570 O4G AMD Graphics Card they had great things to say. People loved how quiet the card was, without losing any speed. Some have said that they were impressed by the improvements AMD have made with their open source drivers and this is exceptional, as it plays HD games like a champ.
2. PPLNS means payment for the last n shares (Pay Per Last N Shares).This is more a variable number based on the luck of the group. Therefore, if the group is lucky and extracts more blocks in a certain period, you will get a higher payment. Of course, if the mining group has bad luck, you will get a smaller profit. If you are running 24 hours a day, 7 days a week, and do not log out frequently, you will get approximately 4% more ETH using PPLNS compared to PPS for Ethereum extraction.
Once you build trust into hashflare you can also pronounce it to connections or associates. I personaly have many links who invested into hashflare. You can make a make a also of of an easy 10% commission for each attain your referral makes. Be innocent to check out their affiliate system.
This course can be taken by anyone who is interested in understanding blockchain technology, and how it relates to finance and fintech. Professionals working within finance may derive even more benefit from this course.
Nanopool – Next on our list is Nanopool (https://nanopool.org). Nanopool currently has 40 000 Ethereum miners and accounts for 15% of the hashrate. Nanopool uses the PPLNS method to calculate payments the same as Ethermine. Payments are made several times during the day and Nanopool has servers in Asia, Europe and America. Nanopool also offers miners the option to mine in Ethereum Classic which is a split from the traditional Ethereum currency. Also see our article on Nanopool vs Ethpool.
2.3 You need to open up another command prompt as in step 4 – so your going to get two scary looking boxes. Simply click right click on your already open command prompt in the taskbar at the bottom of the page and click on command prompt in the menu that appears. A new command prompt should open with C:\users\username>. This is the wrong place to look for ethminer so you need to tell it the right place to find it.
There is actually no best Ethereum pool existent. All of the reliable Ethereum mining pools serve a great way to get your Ethers or just to get paid. However, there is a difference between the fees that Ethereum pools charge. Moreover, you would want the Ethereum pool’s server to be near you for better connection and speed.
Findind a solution is practically running brute force algorithm. The time to find a solution is hard to tell. In the same time blocks are having a predefined maximum size and by convention a blockchain needs to have an averate time interval at which blocks are closed. In order to do that from time to time a variable called difficulty is adjusted based on previous performance.
I reckon just try running Claymore and see what it says. I’m not up to date on Ethereum mining but I heard that the ETH blockchain has gotten too big to sync normally. I don’t know how miners are handling that but presumably some kind of pruning or other solution is used.
Nailed it Geekman! So many miners have no clue about business. Just because they are smart at technology doesn’t mean they made a good business decision. The GTX1060 payback time is so much shorter than other cards right now. This makes it the perfect low power and moderate hash card. Return on investment is crucial if you are doing this to make money.
The standard power supply in a desktop computer can be anywhere from 300W-500W.  But when your mining and you are powering up to 6/7 GPUs, you want to make sure you have enough power.  1200W+ is what you’re looking for and you want to make sure that it is Gold or better certified for efficiency.  Also, modular power supplies allow you to configure your cables individually which helps greatly when building out your rig.
When it comes to picking GPUs, you want the select the best bang for the buck.  You’re looking for something with high hash rate, low cost, and low power usage.  You can start with as little as 1 GPU or as much as 7 GPUs within one rig.  Normally you see 5-6 in a mining rig as 7 is incredibly hard to make stable.
We had to exclude certain boards because they were too slow (previous-gen GeForce GTX 9-series, for example) or came up short on memory capacity (GeForce GTX 1050 2GB and Radeon RX 460 2GB). As you’ll soon see, those are important considerations, as two cards armed with the same GPU aren’t necessarily equal when it comes to mining Ethereum.
The Nvidia GTX 1080 Ti remains one of the most powerful graphics cards in the world, and is our recommendation as the best graphics card for 4K gaming. However, as a mining GPU, it is also an excellent choice, but there are a few considerations that prevent it being higher up this list. First of all, it’s still an expensive GPU, and the power consumption is high compared to other cards. This means the return on your investment is less, and will take longer to cover your costs. If you don’t mind splashing out on this GPU (or you’re going to also use it to play games with), then you’ll be very happy with the results, especially as with a bit of tweaking you can get a hash rate of 32 mh/s.
Update, 9/15/2017: We’ve updated our Ethereum mining benchmark numbers in this article to include AMD’s recently released Radeon RX Vega graphics cards. Head here for that updated data or journey on for the full guide. 
2. PPLNS stands for Pay Per Last n Shares. This is more of a variable number based on the luck of the pool. So, if the pool gets lucky and mines more blocks in a given timeframe, you’ll get a bigger payout. Of course, if the mining pool is unlucky, you’ll get less of a payout. If you’re mining 24/7 and don’t drop connection frequently, you’ll get roughly 4% more ETH using PPLNS vs for Ethereum mining.
The AMD Radeon RX 580 is one of the very best GPUs for mining, and in fact is a bit of a victim of its own success, as it can sometimes be difficult to find. However, its popularity is warranted, as it offers an excellent hash rate of 29 mh/s, while also keeping the electricity consumption low as well. It’s also cheaper than the GTX 1070, and if you don’t mind tweaking a few settings, you’ll be very pleased with this card’s mining performance.
F2Pool also known as Discus Fish is the second largest mining pool. It is a Chinese mining pool that was launched on May 5, 2015. It allows its users to mine about four cryptocurrencies namely; Bitcoin ( BTC), Litecoin (LTC), Ethereum (ETH) and Zcash (ZEC). It has a Discus fish with its coinbase signature. Unfortunately, Chinese-speaking residents can mostly use this pool as the platform’s interface is written in Chinese. F2pool charges a four percent pay-per-share fee.  It controls about 22 network hash rate. It comes with features such as:
As my title says, I am a complete newbie to the Ethereum Project, but not to the cryptography in general. Although this will be the first time I will consider investing in the mining process. And I just would like to know, what is the best current hardware is out there for mining, and where best to find available in stock to ship.
1x Power Supply –  1000 Watt PSU – The key here is to have an efficient power supply that will save you over the long run in electricity costs. Look for Gold or Platinum rated (as opposed to silver or bronze). This is the industry standard for rating the efficiency of a computer’s power supply unit (PSU). If the model linked above is unavailable, I’d also recommend this model and this model.
AMD’s Polaris-based chips have been famous for their mining performance, with the RX480 and RX580 being the jewels of the crown. Both models are very good options for Ether mining, with hash rates between 22-29 MH/s, depending on model and settings.
Please advice if the second GPU (from previous post, GIGABYTE GeForce GTX 1070 G1 GAMING 8GB (GV-N1070G1 GAMING-8GD) would be a right choice for the rig or there are some differences that I may experience in overclocking/drivers, e.t.c.. Thanks in advance,
This pool is a great optimized stratum pool engine that can be found online. It offers you maximum transparent and detailed statistic related to your mining account. You can also monitor every mining ring via email. As well you do not need to register on the website in order to mine ETH.
Eken Cloud Mining is an easy, cheap, and good way to get or mine Bitcoin, Ethereum, Zcash, Dash or Monero. EKEN Cloud Mining was founded in 2016 in France where the office was set. With the mining operation in Canada, they provide daily payouts to the clients with a minimum amount of 0.0047 BTC and 0.12 ETH. EKEN is giving you a $15 welcome sign account.
I just built a 6 card Rig with Gigabyte GeForce GTX 1070 Windforce OC cards and a MSI Pro Z170A SLI Plus Pro Motherboard. I am getting rock solid stability at 194 Mh/s with GPU temps 57-47-53-53-53-47. My power usage is 850 watts. Runs real cool. I highly recommend the marriage of these parts. Very pleased with the Rigs performance.
After you calculate the amount of kWh you will be using every month, multiply the kWh per month by the amount you pay for electricity in your country, and then you will find out the cost. Take your monthly power cost away from the value of the amount of the currency you mine to find your monthly profits. Though most mining calculators include this calculation for you, it can be very useful to find the exact amount you will be spending on power.
Why would it render them them unprofitable?? It’s not like you GTX 10XX card will stop working the day those come out. They GTX 20XX might be more (or less) profitable. There is too much unknown right now. If the GXT 2060 costs three times the price of the GTX 1060 and only hashes 50% more then the GTX 1060 will still be more profitable. Of course, if the price of Ether quadruples then almost any card could become relatively profitable. This is a game of four numbers: hashrate, card price, card power consumption, and coin price. Bottom line: The rig you build today doesn’t magically stop working when new hardware comes out.
Recently Nano Pool is acting weird, and hashrate drops for some reason, It is happening across at all rigs. Can you please let me know which Pool are best and having accurate hashrate reports and puncture payout.

One Reply to ““ethereum mining for dummies best””

  1. Mining is a word that originates from the gold analogy of the cryptocurrency sphere. It is not some get rich quick scheme. It requires time and effort to grow especially when you are working alone. The word was adopted because just as precious materials are difficult to see, so are digital currencies. Since mining must take place to increase the volume of precious metals in the market, digital mining must take place to increase the digital currencies in circulation.
    It blows me away how many of these people think hashrate is all that matters. I mean when you decided to buy a car for your daily commute did you go look for one that had 500hp and cost $100K or did you look for the one that had the best compromise of features for the price? The 1060 even at today’s difficult is still the absolute best card if you can get it four around $250. Which is what the Geek Pub said he paid for them. I have a source to get mine for $235. You’d be crazy to buy anything but the 1060 at that price.
    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+ GB’s and still growing!  You also do not need to manage clunky command line miners with manual instructions.

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