The State of Mining: Guide to Ethereum

[Julio Franco]

If you've ever tried getting into cryptocurrencies, you were probably met with a barrage of technical terms and buzzwords. I heard I can make easy money by mining on my home computer; how does that work? Why are there so many types of coins? How do I get started buying and selling cryptocurrencies? In this article we'll focus on the state of mining, exploring the practical side of it, as we hopefully demystify some of the world of digital currencies.

Read the full article here.

https://www.techspot.com/article/1423-state-of-mining-ethereum/

 

[merikafyeah]

I know of many places where you can actually spend Bitcoins for goods and services (usually using BitPay as the intermediary) but so far I haven't encountered any places that say "Ether accepted here". Maybe in a few years that'll change but I guess you could always exchange Ether for Bitcoins and vice versa.

 

[R00sT3R]

Why write an article that encourages this parasitic wasters pursuit?

 

[Jyrkz]

Why write an article that encourages this parasitic wasters pursuit?

Ether has many + Sides over bitcoin.Only fail atm has been that it had an hardfork that separated the blockchange. Let me remind you that Bitcoin is heading the same way. Soon btc developers have to decide what they are going to do.
Also Ether market cap is allrdy 80% of the btc. So theres also this possible chance of market flippering. Thats where Ether passes BTC.
Radeon Gpus have been sold out everywhere in eu. People are buying 470's for 300+ euros. Just to mind ether. thats how valuable it is.

 

[Mc128k]

Why write an article that encourages this parasitic wasters pursuit?

Probably the only "good" is that people are encouraged to buy video cards.

 

[erickmendes]

... but I guess you could always exchange Ether for Bitcoins and vice versa.

That's the spirit.

 

[Legionnaire]

Why write an article that encourages this parasitic wasters pursuit?

The more bitcoin and altcoins are in the news, the more people give it a shot and invest in them, indirectly increasing their value. The more we talk about them, the more worth they become.

Don't get me wrong, these guides are great for people who want to get started, and I'm not hating on anyone here. I'm quite indifferent to the topic--it's just another type of commerce/trade. If you disagree with this, you should see what they do in the sugar industry.

 

[That Other Guy]

This also helps those poor poor energy companies as all that extra power is used up. I don't know about the rest of the world but power is starting to get pricey.... maybe a solar/wind powered miner would be doable?

 

[Greg S]

As someone who is the proud owner of 7 shiny new AMD RX 580s, I shall be mining ethereum for the next 3-6 months depending on what happens to the value. I pay $0.0477 per kWh, so my electricity is extremely cheap right now. I'm looking at nearly $1000 a month in profit just for running a computer. It's amazing honestly. I'm tempted to build more, but I'm not sure how long the current generation of hardware will remain relevant.

 

[Neebsgaming]

There a option to do it on tablet or phone great thing with all your old phones or tablets that sitting around doing nothing now you upgraded to something new those older androids could make up money and if they brake cause of it no real loss anyhow

 

[McMurdeR]

I have a couple of beefs with all this.
1. Its driven up the cost of gaming
2. That kind of processing power should be spent on something more worthwhile

 

[ypsylon]

"....Finally, since mining only really uses your GPU, you can feel free to use your computer as you normally would..."

Strictly speaking with ETH (DaggerHashimoto) not true. It will load GPU to full and you'll struggle to browse 2D websites. Some miners allow good amount of usability (Equihash/ZEC), but for most altcoins PC is better left alone while mining.

And one small detail, if you mining altcoins on Win you need W7 for that. Any other "better" Windows and return will fall, sometimes sharply.

 

[davislane1]

I have a couple of beefs with all this.
1. Its driven up the cost of gaming
2. That kind of processing power should be spent on something more worthwhile

You're complaining that people are driving up the cost of something that doesn't earn money for something that does. And what's more worthwhile?

 

[Raoul Duke]

I have more faith in a fiat currency backed by a major government than a fiat currency backed by.....???
Cryptocurrency, invented by folks to hide their shady deals and financial type people who want something else they can speculate on and make money, they could care less what it is, only that it can be used to generate them some money.

 

[w8676]

I have a couple of beefs with all this.
1. Its driven up the cost of gaming
2. That kind of processing power should be spent on something more worthwhile

You're complaining that people are driving up the cost of something that doesn't earn money for something that does. And what's more worthwhile?

Leisure has value (unless you're a robot, or have no soul), otherwise people wouldn't pay money for games, movies, subscribe to Spotify, or buy GPU's for their designed purpose, Playstations, etc.

 

[davislane1]

Leisure has value (unless you're a robot, or have no soul), otherwise people wouldn't pay money for games, movies, subscribe to Spotify, or buy GPU's for their designed purpose, Playstations, etc.

Point: missed.

He's complaining about people earning money with technology he uses for spending it.

 

[Leo Martin Lim]

I just started mining a week. Currently I am mining via nicehash marketplace.
nicehash is very easy to use, but I heard it is not the best paying mine.
there are many mining pools that we can join, but I am quite baffled with all of them.
Can you suggest top 5 pools that are recommended, based on profitability ?

anyone?

thanks in advance.

 

[erickmendes]

As in their FAQ (https://www.nicehash.com/?p=faq#faqs0) it seems like 2% for ".. all nicehash-wallet mining payments (regardless of size) is 2%.".

I mine ethereum in nanopool, 1% fee, so I think you could save some with better research.

 

[Stoly]

"For example, an RX 480 will produce 25MH/s and a GTX 1070 can produce around 35MH/s"

A GTX 1070 will do 27mh/s at stock. Only a highly overclocked one will give you anywhere near 35mh/s if you want to risk frying it, but 30~32 are doable.

I'm currently doing 31MH/s.

 

[erickmendes]

"I'm currently doing 31MH/s.

You use stock settings our any mild oc? I've underclocked my 1060 gpu and oced it's mem to get 20Mhs while using less power, was thinking about getting some 1070, but as I calculated, the Mhs/w for 1060 is 0.25 while on 1070 it would be 0.27 (setting the 1070 to 100w power target). If you get 30Mhs on 100w, them I would consider getting some 1070s for my mining rig.

 

[Stoly]

"I'm currently doing 31MH/s.

You use stock settings our any mild oc? I've underclocked my 1060 gpu and oced it's mem to get 20Mhs while using less power, was thinking about getting some 1070, but as I calculated, the Mhs/w for 1060 is 0.25 while on 1070 it would be 0.27 (setting the 1070 to 100w power target). If you get 30Mhs on 100w, them I would consider getting some 1070s for my mining rig.

Memory OC to 9.1ghz, everything else at stock.

I was doing over 32mh/s with the memory at 9.5 ghz but it wasn't stable.

The PC is in our Datacenter so power is not an issue, but I don't think its making much more than 100w.

 

[erickmendes]

Memory OC to 9.1ghz, everything else at stock.

I was doing over 32mh/s with the memory at 9.5 ghz but it wasn't stable.

The PC is in our Datacenter so power is not an issue, but I don't think its making much more than 100w.

I'm mining at home so power usage is closely watched by myself lol... That's why I'm asking. The differenc from 100w to 110w is right on my profits. Every watt counts.

 

[Stoly]

Memory OC to 9.1ghz, everything else at stock.

I was doing over 32mh/s with the memory at 9.5 ghz but it wasn't stable.

The PC is in our Datacenter so power is not an issue, but I don't think its making much more than 100w.

I'm mining at home so power usage is closely watched by myself lol... That's why I'm asking. The differenc from 100w to 110w is right on my profits. Every watt counts.

Sorry, but I can't measure power consumption, so I wouldn't know.

I'm hoping the rumored "mining driver" can increase the hash rate.