“getting started with ethereum mining”

“getting started with ethereum mining”

R9 390(X) can boast a pretty good performance and achieves a hashrate similar to the GTX 1079 Ti and 1080 models. However, the price is far lower than theirs and R9 390(X) also has lower power consumption.
A: This guide covers using Windows 10 (make sure it’s 64 bit).  There are also various distros of Linux that can be used (not covered here).  But Windows is the easiest to configure and get up and running fast.  There is no Mac version at this time.  
TrueBitBlox is the best Ethereum Cloud Mining Company which are famous in all the world. With TrueBitBlox – Your mining rigs are already set up and running, as soon as you’ve set-up your account you can start to earn your first coins from our Etherium cloud mining service!
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.
This post is not intended to discourage mining on the Ethereum network. Miners are needed to secure the vast decentralized system we enjoy today. Our intent is to show that mining profitability is based on the appreciation of Ethereum. As we move into a world with more decentralized services that pay in Ethereum directly, or services that pay in other crypto-assets, mining may become less favorable due to the large depreciating investment in hardware.
Cloud mining is definitely the easiest way to start mining, as you can purchase a mining contract whenever you like. You do not need to setup a rig or even have an internet connection, the company which hosts the miners will do this all for you. You’re only required to pay monthly for the hashing power, however these contracts can turn out to be quite unprofitable, as contracts tend to last for 24 months, and with the networks increasing difficulty you may start losing money every month. Another negative is that you will not be able to sell the rigs, and will not be able to cancel the contracts. However if you do decide to start cloud mining, one of the largest companies for this is Genesis Mining. Nice Hash is another cloud mining company which unlike Genesis does not lock you into a contract and allows you to cancel any time you want, making this an excellent option. Nice Hash also allows you to sell your hashing power for Bitcoins, so you can set your own mining rig to mine on the Nice Hash servers and earn Bitcoins. However, this can turn out to be less profitable than mining an altcoin by yourself. You can use this code: MRT1YF on Genesis Mining for a 3% discount on any purchase!
It is predicted that the difficulty to mine ETH will keep increasing even as miners increase because the amount of Ethereum is fixed. To better understand the difficulty, a description of hash rate will help.
The power supply is extremely important—don’t skimp on it! A good, efficient PSU will keep your electricity costs to a minimum and more than pay for itself over the long run. Seasonic, EVGA, and Corsair are all generally top brand choices. The 1200W unit that I’ve linked may seem like overkill, but power supplies are most efficient when they’re not running near their rated maximum load. A 6 GPU rig will draw about 750 watts (assuming 6x RX 570 cards, properly optimized), which means a 1200W PSU will have sufficient headroom to perform efficiently.
3) Choose a memorable download folder for the “Ethereum Wallet” zip file. Extract it with a suitable file extraction tool, navigate to the new folder the extractor creates and then locate and run the Ethereum app.
As you can monthly profits reduce by near 1/3 every month with estimated total profits plateauing at $2750 around 6 months. A far cry from the $10,000 I was predicted to make. Sadly, this is barely enough money to pay for the rig I built for mining!
Click on “next” and you will be redirected to the “configure security group” screen. It is important that you upgrade the security settings and choose “My IP” under the tag “Source”. By doing so, only you (i.e., your IP) will be able to launch the instance. Indeed, you do not want all the internet to be able to launch your instance!!
Our CTO, Stefan Schindler stated “The reason we are able to continue reducing the price for our customers is due to heavy optimization of the Enigma farm and economy of scale. We are proud of bringing Ethereum Mining mass deployments to a next dimension with Enigma.”
With AMD GPUs may be a more complicated issue: cards were installed correctly, but each of them has an exclamation point next to it. AMD atikmdag Patcher can help. Click on ‘Yes,’ and after reboot, the problem is solved!
Ethereum has a completely different blockchain protocol than Bitcoin. Bitcoin’s blockchain is based on proof of work. Ethereum’s blockchain, although currently is based on proof of work, is soon to become based on proof of stake.
You will need to Download Geth. This application will serve as a communication hub, linking you to the Ethereum platform while coordinating your setup (hardware and all) and reporting any new development that requires action on your part.
Next select a motherboard for your mining rig. Boards support a variable number of graphics cards, and may only accept specific types of processors and memory. See the Details of each board to quickly identify proper pairings.
Now that you know how to use the profit calculators, you now need to know how to find the hash rates of your system. If your graphics card is not listed on the What To Mine website, this can be a tricky process. Luckily I have compiled a list of sites which have this information.
Using the growth of block difficulty, we can calculate that over a period of one year, the difficulty factor will grow from 2,280,210,891,539,710 to 11,880,071,363,893,300. We do this by using the fit of the difficulty function and assuming this fit will be true for future values.
The GTX 1070 has a steady hash rate of 26 Mh/s with a power draw of about 135W, with a monthly profit of 58.18 USD and a power cost of 8.26 USD per month. This card will take just under 9 months to pay itself off at 500 USD, and 8 months to pay off at 569 CAD.
It has become the new standard in Ethereum mining and with the huge price explosion the demand for these cards have far outpaced supply and created an extreme GPU shortage, resulting in much higher GPU prices.  That said, if you shop carefully, set up auto-notifications/alerts and have a little luck you can get some of the AMD RX series cards.
Mining Ether takes up a lot of electricity. On the plus side, though, if mining practices are carried out efficiently more income is generated through the sale of Ether. Ethereum mining calculators are available for calculating profits. So, there’s no need to get worked up since you’ll still get a profit at the end.
So suppose anyone does have some mainstream or high level card at least the level of HD5850, as an example, they’d still faced with power bill issue, which in some case outweigh the profit. As we all know how much of a sucker old gens are compared to what we have now. That is assuming they are somehow emotionally attached to it and not decided to sell it, even after buying later gen.
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 12.5 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.
According to claims made on their website, $100 invested over a period of 1 year in bitcoin mining would fetch a return 252.77% or will turn into $ 252.77. Hashocean is another provider, which claims to have 392,314 users as of the writing of this article and say they have paid out 137,495 BTC since they started operations. Here is a comparison of some Bitcoin mining contracts according to cryptocompare.com.
This Agreement is governed by German law. To the extent permitted by applicable law the parties agree that the competent courts of Munich shall have non-exclusive jurisdiction to hear and determine any suit, action or proceeding, and to settle any disputes, which may arise out of or in connection with this Agreement.
We will have to wait and see what all changes are implemented by the company but for now, you can mine ether and earn profits by selling them which are claimed to be much profitable than the buying of ether itself as a currency.
In terms of Ethereum mining performance, the R9 series has aged far more gracefully (even though it was introduced in 2015) than the more recent RX 400 / 500 series (which launched in 2016 and 2017, respectively).
BTC value changes every day as does the difficulty etc so this is only ever a guide – and it says that so use it as such. I think this is a great resource to use if you use it with a pinch of salt as they say – its not financial advice.
If you mine in a pool, you’ll pay a fee to belong as well as a payout fee charged on each payment sent to you. Pools don’t charge the same rates though the variation is low. These fees are another value you will subtract from your income.If you outsource, your contract states the amount of a year’s subscription to the cloud mining entity.
although power price is very cheaper in my country but I hope ETH price goes higher , but ETH going to POS in couple of months am I right ? even if eth POS ed we can mine ETC and other profitable currencies so I will not sell my rigs
If you are planning on overclocking your GPUs, we recommend installing Afterburner. We use MSI Afterburner. For AMD GPUs you’ll need the latest beta version. You are going to adjust all the graphics card settings at your own risk – when in doubt, feel free to contact 2Miners on Telegram or Slack for advice.
In the early days of GPU mining, AMD cards were the clear winners, in terms of performance. More recent Nvidia cards (such as the Titan range) match or even exceed the performance of AMD cards. Mining performance for certain coins may be better or worse, depending on the manufacturer.
Maintenance and electricity fees are not billed in an invoice. Instead the fees are deducted from the customer’s balance at the moment of daily payouts. Despite the fact that balance is accounted for in BTC and the fees – in USD, the fees are deducted in BTC according to the current USD/BTC exchange rate which is beneficial for the customer in case the exchange rate trend is positive – more BTC remains in the customer’s balance.
AMD Radeon R9 295X2 is the most powerful ethereum mining GPU available in the market till date. It maximum mining power is 40 Mh/s for mining ethereum. It will cost you about $$$$. But the bad thing with this GPU is that it is mostly out of stock on Amazon and other sites, I think because of the high demand of this GPU in a mining community. SO if you are lucky enough to get it then it good if not don’t worry there are many more options you can go with.
Notice, your contract starts the day you pay but mining doesn’t start for three months, so it is really a 1.75 year contract. I hope difficulty doesn’t go up too much before it starts, if it does I in trouble.

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