“ethereum mining guide for beginners ethereum pool mining vs solo mining”

# “ethereum mining guide for beginners ethereum pool mining vs solo mining”

Noob here. Thanks for the tutorial, it was great! I built my first rig but have yet to power it up so ce i am very concerned with the way my risers would be powered after all the SATA burning we see on the internet.
Now, for the ease of this experiment – let’s compare Ethereum mining – DIY and Cloud contract from Hashflare.io. Also, I will assume you already have basic components – like motherboard, pc risers, processor and so on – and the one and only investment you are concerned is – adding a new graphics card.
I think a lot of people are confused over what profitability really means. Sure everyone knows profit = revenue – cost. However, profitability of mining ETH is not simply “do I mine more ETH than cost of electricity?” This neglects the GPU/HW where it’s instrumentally important in both the revenue and the cost. If you’re doing it right, the price of the GPU/HW will be at least 2x the cost of the electricity for the whole mining lifespan of the card. Additionally, we’d hope that the final value of the HW is > \$0.
Every ten minutes or so mining computers collect a few hundred pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. The first miner to find the solution announces it to others on the network. The other miners then check whether the sender of the funds has the right to spend the money, and whether the solution to the puzzle is correct. If enough of them grant their approval, the block is cryptographically added to the ledger and the miners move on to the next set of transactions (hence the term “blockchain”). The miner who found the solution gets 25 bitcoins as a reward, but only after another 99 blocks have been added to the ledger. All this gives miners an incentive to participate in the system and validate transactions. Forcing miners to solve puzzles in order to add to the ledger provides protection: to double-spend a bitcoin, digital bank-robbers would need to rewrite the blockchain, and to do that they would have to control more than half of the network’s puzzle-solving capacity. Such a “51% attack” would be prohibitively expensive: bitcoin miners now have 13,000 times more combined number-crunching power than the world’s 500 biggest supercomputers.
Hello. I really like your project. I’m not quite a young man and it’s attitude carefully.But it seems to me that you are a team of professionals, and that you have no Ponzi scheme. I wish you success and look forward to long term cooperation. Sincerely, Sergey Tikhonov. ( ser2002den@ya.ru )
On the downside, you can’t just slap a picoPSU into a case without making modifications. For example, I had to run the DC power jack through my case’s three-pronged female port. On top of that, picoPSUs usually only support a single SATA-powered device. If your case places its storage drives in odd places, you might also need an extension cable.
The Vega represents the latest in AMD GPU architecture. While the standard air-cooled Vega series runs a little too hot for serious overclocking, this special edition stays cool enough to reach 42 MH/s, while drawing just under 300 Watts! This feature represents an amazing value: It can match the overclocked performance of Nvidia’s Titan Xp, but only costs half the price.
Let’s see how to choose the right hardware and build a universal mining rig for the Dagger Hashimoto (Ethash) algorithm for such coins as Ethereum, Ethereum Classic, Metaverse, Expanse, Musicoin, Pirl, Whale, and an Equihash algorithm for Zcash, ZClassic, Zencash, Bitcoin Gold.
GPUs are up to 200 times faster and more effective when it comes to mining Ethereum than compared to mining via CPUs. GPUs with at least 3GB of RAM are recommended for mining. In the past this used to be 2GB but as the difficulty rises you would need more powerful machine. The best GPUs for mining Etheruem currently feature 8GB of Graphic RAM.
GPU   Graphical Processing Unit, a GPU (or commonly just referred to as a graphics card) was previously the dominant way of Bitcoin mining. It was way beyond the efficiency of a CPU and plenty common among computer users to gain widespread adoption. With the increase in the difficulty it has recently become too inefficient for most to continue mining with GPUs as their electric bills now compete with the value they generate. For futher details, please see our hardware page.
Hi Bhavesh, OK, this seems to be a fairly common error but it’s beyond my capabilities to diagnose precisely from that log. I’ve seen a variety of solutions to this issue proposed on various forums: https://ethereum.stackexchange.com/questions/18806/couldnt-connect-to-node/23153#23153 https://github.com/ethereum/mist/issues/2426 https://github.com/ethereum/mist/wiki#unable-to-find-peers I suggest starting with the simple solutions first before trying the more advanced stuff. So if using Windows, start things up in Administrator mode. Then try starting Geth manually with the –nat=none flag. Then try starting from the command line as someone suggested. You can also backup your data directory, rename / move it, and let the wallet resync itself… From there,… Read more »
One of three things is going on here, either the person really does not know what they are talking about (e.g. hashrates for RX 400 & 500 series, the R9 only coming in 4gb, etc), or they advertising for Nvidia, or they are attempting to get a sell off for AMD cards. I don’t mind because I have been able to get some good prices on AMD cards lately with one guy even saying that he was selling cards he just purchased brand new in December because their technology was becoming obsolete. Probably read this article and took it… Read more »
Miners expend electricity hashing that block with the processing power of their GPU(s). A successful hash result produces produce a unique Proof of Work (PoW) proving that the miner worked on that block.
The Mist package contains the Ethereum wallet which you’ll need to receive any mining profits. Mist also includes an Ethereum browser with various functions, such as messaging and a social network and tutorials. As a tip, these tutorials and the social network are helpful learning resources. Don’t be scared to ask the Ethereals if you’re experience difficulty with any part of this process.
To join a cloud mining pool, you must purchase shares online. Choose from any one of the plans, pay for the plans you choose and once done start mining. Your provider signs the contract for one year and takes complete responsibility for all the infrastructure, and maintenance tasks. They will provide all hardware and software, pay for licenses, while you focus on mining and collecting your mined coins.
HydroMiner is a cryptocurrency mining company using green energy drawn from hydro power stations in the Alpine region of Europe. Hydro-power is generally thought to be one of the most effective and lowest-cost renewable energy resources. It is environmentally friendly, carbon-neutral and natural.
The maximum you receive for an uncle is 7/8 of the block reward. This pay reduces as you go back from the present block and there’s no reward beyond 6 steps back. Uncles are not a factor you can project accurately when estimating income; you’ll only know how much you earn from uncles when you have earned!
Us mere mortals wouldn’t have an R9 290X level of card lying idle. Heck, suppose we do have unused GPU it would be something from 2 gen before it and a mainstream oran entry level card of its time at that, at the very least.
If you only want to use 3-4 GPUs in your rig, then you’ll have a much easier time. Most boards with up to four PCIe slots should accommodate a GPU in each. Keep in mind that you can use old hardware that you have sitting around—the board doesn’t have to be recent. I dug out an old ASRock 970 Extreme4 that I used four years ago for litecoin mining, and it still works fine today for up to 4 GPUs (5 is possible with some work). So it’s possible to pick up an ancient board on eBay/Craigslist for nearly nothing and mine with less than 6 video cards.