“ethereum mining economics”

“ethereum mining economics”

Actually, I did talk quite a bit about the rising hash difficulty. Did you not read the last page? Did you not see on the front page where I talked about the ballooning DAG files making it harder to use older mainstream GPUs ( since most of them are 2GB VRAM or less )?
Designed for Bitcoin, Litecoin, Dash mining. BITMAIN Antminer S9, L3+, and D3 – The world’s most efficient miners and world’s first bitcoin mining ASIC based on the 16nm process node. The Antminer S9 follows the same form factor as that of the hugely popular Antminer S7 and is nearly the same size. It has more than thrice the power and twice the efficiency of the S7.
Hi Kannon, I stumbled across your article and found that it filled in a lot of gaps as I consider building a beginner rig for mining. Do you have any monitor recommendations, something for loading the system, maintenance, etc? I found many options but I’m not familiar with this configuration and worried about spending on something that is not compatible.
Some settings should be modified in Windows to get you ready for mining.  First, you don’t want your computer to go to Sleep as it will interrupt your mining so go into your Power Settings and set it to “Never” turn off/sleep.  
Like most Bitcoin fans out there, I talk about Bitcoin a lot. From the person sitting next to me on the plane to the waiter serving my table drinks, every chance I get I end up talking about Bitcoin. This isn’t something I intentionally force on people, it’s something that just naturally ends up fitting into so many different conversations and every time a Bitcoin conversation starts, I eventually am asked the same question…
BIOS: Launch your rig, go to BIOS and update it to the latest version, which is 0812 at the moment. You can download it on Asus website. To install BIOS, put the file with the newest version to a USB flash drive, press F7 to see BIOS advanced settings, then search for ASUS EZ Flash Utility, choose ‘by USB’ and click on the USB flash drive file.
The GTX 1050TI has a hash rate of 11 Mh/s with a power draw of 70W, it will make a profit of 23.83 USD a month, with a power cost of 4.28 USD per month. It will take just over 6 months to pay off the GPU at 150 USD
Setting thing up was easy. Just select the amount of MH/s you can afford and pay bit bitcoins. After 2 days is saw the first earnings trickle in my wallet.Good job guys! for making this process go like a breeze.
Fans. Liquid cooling requires more thought as it is the GPUs that require the cooling and you will have to purchase the correct GPU liquid cooling add-on, or purchase a GPU with the liquid cooling built in.
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Which model to pick, though? While literally any RX 570/580 card will do, the most important thing to look for is memory speed if you want the best performance. Cards with a higher memory clock speed will generally perform a bit better while mining ETH (and can generally be overclocked more). Memory capacity isn’t really important beyond 4GB, so all other things being equal, there is no reason to shell out extra cash for the 8GB version of a card. It’s true that every GPU needs to be able to hold Ethereum’s DAG file in memory, and that file is slowly increasing in size—but it won’t surpass 4GB until late 2019 (and ETH’s switch to PoS will likely occur before then, anyway).
I created a comparison chart based on Hashrate and Cost – and only list cards currently for sale online. Check it out here:https://www.pyramidreviews.com/cryptocorner/mining-gpu-speed-and-price-comparison/
The newer USB-style powered risers often include SATA-to-molex power adapters. Throw these adapters away! SATA plugs are not designed to deliver 75 watts safely, and these can get hot enough to potentially be a fire risk (admittedly, 99% of the time you’ll be fine, but it’s not worth the risk). Instead, connect the molex plugs on the riser directly to your PSU (no more than two risers per PSU plug). Newer versions of these USB risers forego the molex adapter and instead use a PCIe connector for power.
Genesis Mining is one of our biggest clients and proven to be a reliable and trustworthy business partner. Their transparent mining sites and high quality software infrastructure together with our high end mining hardware result in a great and unique product and experience for everybody interested in mining!
I think you read this wrong. I didn’t write this saying “These are the exact steps and parts list you need.” It’s simply saying, “Here’s a basic idea you can possibly adapt to your own circumstances.” No, not everyone has a 290X in storage. But a lot of people do. My current “leftover” GPU is an R9 280. That’s plenty strong for some hobbyist mining.
You will now be prompted to create your access key aka “Key pair”. To use a virtual machine we first need an access key (keep it private!). Amazon AWS access keys consist of a public key and a private key.
There is an ever greater threat to mining profitability approaching in the near future: Ethereum is soon moving to a proof-of-stake model with the Casper Protocol. When this happens, something expected in 2-3 years, traditional mining will no longer work and mining rigs will become obsolete. Rigs will no longer be able to generate streams of revenue from Ethereum mining. Instead, only by locking in stake will “stakers” (as opposed to miners), be able to profit from the Ethereum Blockchain. To be a staker you will no longer need the complicated hashing power of GPUs that proof-of-work required.
For people who don’t pay for electricity in a month or 2 is the best time to enter mining since the used market is already flooding with graphics cards as we speak. The prices will drop and you can pick up a RX580 for 200€ easy.
I have ZERO computer skills, and I am sorry if this question come across as stupid but I truly don’t have a clue how this all works. Do you happen to have directions for putting this together? Also, when everything is put together do I just turn it on and start mining? I am sure that I will need software to work this but do you know where I can get the software needed to run these? I am so sorry that I am asking noob questions, but I seem to always have more questions that keep popping up.
“Cloud mining is a relatively new thing but we see that more and more people are getting interested in such service. I believe that this service has a very high impact on current bitcoin community as it allows something which was previously only available to technologically easygoing people. The more people can get involved in cryptocurrency world, the higher are the chances that this will not be something to come and go, but something to stay for a long time. I think any bitcoin enthusiast would like to live up to the day when you can use cryptocurrencies in Walmart, LIDL or Rimi.”
We decided to examin Bitcoin mining trends in 2016. According to hashrate distribution data released by Blockchain.info over the past 4 days starting March 29, 2016, the table below shows some popular bitcoin mining pools and their market share.
My guess not too much. There was too much momentum behind GPU buying. All those people who preordered cases of GPUs will likely want to use them regardless of how bad the market looks when they get them. Especially if the resale market for GPU’s dies off which I think we will start seeing pretty big declines in prices in the next few weeks.
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.
I think genesis mining is good professional service i am having a good experience with them. What i like the most is there support they are very quick to reply. No matter what the difficulty rates are these days for mining but it still a good experience when you think of long term .
In the end nobody knows at what point mining will have been too late to profit, until its over. But by even fairly conservative estimates it will be much sooner rather than later. My models mostly show a October 2017 to March 2018 end in profitability for most people.
The Ethererum Mining plans will run for a maximum of 24 months, however, should Ethereum (“ETH”) switch to proof-of-stake before the end of the term, we will use the leased hardware on a best-effort basis to mine the most profitable coin with that hardware for you. Please refer to the contract for further details.
1. Based on the stores that you usually buy GPU (if you could add international info will be awesome) do you think is reasonable to invest in the rigs or should you hodl your finances and wait for a price drop? I know it is speculative kind of a question and things change every second but I am just qurious about your opinion.
So if i invest on genesis mining how much i will get every month and will there be any chance of my account and hash to be terminated next year if maintenance fees and electricity fees exceeds my daily profit ?
@acaciosc The primary reason that Ethereum is so profitable isn’t because it’s ASIC resistant but because it’s the only coin with a generalized intrinsic value. That value being that ether is the only coin that can run a Turing Complete smart contract (or more technically the only coin that enforces a Turing Complete contract to ‘halt’).
I’m having the same problem as Majorano. I double checked everything up until this point and I am 95% sure it is all correct. Here is what command prompt is giving me (my .bat file is called Armageddon):
Disclosure: Mining metrics are calculated based on a network hash rate of 231,987 GH/s and using a ETH – USD exchange rate of 1 ETH = $ 685.18. These figures vary based on the total network hash rate and on the ETH to USD conversion rate. Block reward is fixed at 3 ETH and future block reward reductions are not taken into account. The average block time used in the calculation is 15 seconds. The electricity price used in generating these metrics is $ 0.12 per kWh. Network hash rate varies over time, this is just an estimation based on current values.
Update, 2/5/2018: We have a new article posted detailing CyptoNote (Monero) mining performance with AMD’s Threadripper processor with a CPU-optimized algorithm, alongside a handful of other X86 processors and a powerful GeForce GTX 1080 Ti GPU.

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