A complete guide about How to Mine Ethereum with methods, proof of work, and proof of stake, choice of software for Ethereum mining. Ready to mine Ethereum and Zcash, Monero, and other gpu-minable currencies. You can connect to their IP addresses through your web browser to set up and. Binance users can now sign up to mine Ether, as well as Bitcoin, via the exchange's mining pool. CRYPTO RANSOMWARE ATTACK
Since the mining 'craze' has started, ASRock has produced motherboard aimed exactly at mining. You can also find further recommendations here. I wouldn't recommend getting the absolute cheapest, but one or two points above. The reason for this is that some extra processing power is useful when setting up and makes reboots slightly quicker. I chose to go with the Intel Celeron G I chose to go with 8GB just in case.
Also, if you're going to be doing solo mining, it's a good idea to have as much as possible at the start as this will make syncing the blockchain a lot faster. Of course, once that's finished, you can remove the excess. Currently, the RXs are one of the most popular mining cards, but if you look around the Ethereum Forums , you'll be sure to find plenty of more recommendations. PSU To calculate the size of the PSU you require you will need to add together the power requirements of all of your components.
A site like PCPartPicker will do this for you perfectly. Also, make sure you're using a high-quality, well recognized, and high-standard PSU, as if it blows, you could say goodbye to some very expensive equipment. Harddrive For the hard drive, using an SSD is essential. If you're planning to solo mine, it's recommended that you buy a 32 or 64GB one, but again this will only be a few dollars more.
I'd recommend getting USB powered 1x to 16x risers, which you can get from Amazon , for a few dollars. With some motherboard models, you will need to short some pins for the motherboard to recognize the riser. Again, you can find these on Amazon, and will only cost a few dollars. Below is a recommended purchase list from Amazon. Ethereum Mining Guide So now that we have covered profitability and hardware, it's time to get mining.
However, even with mining, there are three important considerations to make: operating system, solo or pool, and mining software. Which OS to choose? When it comes to choosing your Ethereum mining operating software, there are three main contenders: Windows, Linux, and ethOS. If you're a Mac fanboy, it is possible, but it's advised for numerous reasons. Windows If you're used to Windows and haven't ever gone near Linux, then stay with Windows.
If you're planning on using 6 GPUs, then Windows 10 is recommended as it has support built in naturally. If you are used to commanding line style systems, and mining will be the only aim of the rig, then I'd highly recommend looking at ethOS. Additionally, Windows has the benefit of more universal support and, generally speaking, better overclocking tools. Furthermore, accessing it is an absolute ease with something like TeamViewer.
It does have the downside of slightly more complicated setup but nothing too difficult, especially if you don't plan on tweaking the GPUs performance. Furthermore, if you're only looking to mine Ethereum as a hobby with your normal PC, then MinerGate allows you to do this extremely easily.
Not only is it incredibly easy to set-up, but it's also easy to use and maintain. I've also noticed that it runs more optimally than Windows. It does have the downsides that you won't be able to use your rig for much else, but most people don't tend to, anyway. Linux Some mining enthusiasts swear that Linux is the best operating system for mining.
While this used to be the case, there are stronger disagreements on the topic than previously. While I do prefer Windows, Linux does have its advantages and being a slimmer system it can have its upsides. Furthermore, Windows usually comes with a price tag, so if you're looking for a free option, then Linux is the one for you.
Solo vs. Pool Mining When it comes to cryptocurrency mining, the situation is very similar to a real mine when you consider each GPU to be a person that is mining. Solo Mining Solo mining is when you mine by yourself. The advantage of this is that anything you find is completely yours to keep. Unfortunately, if you only have a few miners, it might take a very long amount of time to find "gold.
You may have a week where you hit gold thrice, but then nothing for a whole month. Pool Mining With Pool mining, many miners join forces in an effort to find the coin. The found coins are then equally distributed between the miners, though with some pools the ratios can vary on a few factors. The upside is that you'll have consistent payout and thereby make money related calculations more accurate. If you're reading this guide, you probably want to mine on a single rig, so I'll primarily cover Pool mining, but will touch upon Solo mining as well.
Payouts released 2 times a day for balances higher than 0. Payouts released times a day for balances higher than 1 ETH. Payouts released every 24 hours for balances higher than 1 ETH. Payouts after 10 confirmations. Payout every 30 minutes for balances over 0. Payouts are up to the miner Manual or Automatic from 0.
Mining Software Going back to the analogy of real-world mining, in cryptocurrency mining you can use different tools to find the gold, so-called mining software. Each mining software has evolved over the years, but some have developed more than others. The primary contenders for Ethereum mining are Claymore and Genoil. Geth Geth is the original software from the Ethereum team.
If you wish to solo mine, this will be your best option. It's simple and straightforward to use. MinerGate MinerGate isn't recommended if you plan to have dedicated mining rigs. If, however, you wish to mine on an existing computer as a hobby, or out of interest, it's perfect.
While it does take a fee from your mining, it's GUI is quick and simple to use and once install you can be mining instantaneously. It also has some challenges that encourage you to mine, and if you're an absolute beginner, then the simplicity of this software will have you jumping for joy. If simplicity is something you prefer, then NiceHash is also a very solid option. Genoil Genoil is a continually developing and very optimized miner for Ethereum.
It runs smoothly, and you can get up and running with it very quickly. Personally, I've had a few issues with DAG generation, but a few tweaks quickly solved this. If you're only planning on mining Ethereum, then Ethminer by Genoil is a strong contender. Claymore Personally, I've found Claymore to be the strongest and best all-round miner. It's easy to set up, I've never had any issues with it, and it has a ton of added functionality e.
It also has the bonus that it can mine two coins at once, which some people have found very useful to optimize their income. There have been reports of anywhere between 3 and 10 percent extra income. For each operating system, I will give the setup instructions for the preferred miner.
Ethereum Wallet Once you start mining, you will also need to keep your Ethereum in a safe location. This is possible in two ways, a local wallet or an online wallet. A local wallet has better safety as it always remains in your control. However, if you do use a local wallet, then either install it on a computer that's not your miner or regularly transfer funds elsewhere.
The reason for this is that should your computer crash; it could be hard to recover any Ether that is kept on there. While at the heart of it it's straightforward to use, it does pack a lot of extra features. Since it's integrated with ShapeShift , you can also accept payments from Bitcoin other altcoin accounts as well.
It also allows you to develop Ethereum based apps and services - a. Smart Contracts. Geth with Etherwall Geth is the underlying code for the Mist wallet and is the core service for syncing the Ethereum blockchain. Unfortunately, it is a command-line service, which can make it hard and annoying to use. This number means that this is the maximum temperature your GPU should reach when the system automatically stops the miner.
Using arrows go down to proxywallet and change the address with yours. On proxypool you will see it in 2 lines, proxypool1 and proxypool2, it is because the second link is as a backup and if proxypool1 has connection problems or is down for any other reason then ethOS will connect to proxywallet2.
If you are located in EU change proxywallet1 to this one: eu1. Email Basic Commands In order to get a complete list of commands type helpme in your window. Check your mining progress by using the command show miner. Every ethOS installation rig comes with its own ID. This can either be found at the top of the rig or along the side of the terminal.
You can also check this online from your phone by logging in to xxxxxx. The information is automatically sent and stays for one minute. The miner can be started and stopped by the minestart and minestop. For the time being, leave the globalfan to Save local.
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The first thing you should set up is the proxywallet variable - a complicated way of saying your address that you want your mined funds sent to. The second step is to input the mining pools you want to mine in proxypool1 and proxypool2 the second pool is a backup just in case the first one fails! After this threshold the mining is stopped maxgputemp: 95 this is the default setting in EthOS and it is recommended that you leave it as is. Lower is better. This option depends on your internet connection and your CPU.
The default value is Now your new settings are in place. One important feature that EthOS has is the remote config option. This makes administering multiple rigs very easy. To take advantage of this, just take your local. Now you can overclock, restart, change your mining pools, all by just updating this single file.
You can stop the mining with the minestop command and start it again with minestart. You can show the output of your miner by entering the command: show You can remotely check your mining rigs status from any device by visiting your Status Panel Address: Overclocking Before trying to overclock our GPUs, we must first determine the current frequencies of our cards.
You must increase the values incrementally, by Mhz, until you reach the right balance. Also you should increase the frequencies for the GPU core and memory independently, to isolate any problem you may encounter.
After you overclock, you should monitor your GPU's temperature and system stability. The overclocking process is pretty straightforward. If you have multiple GPUs installed in your system and they are the same brand and model, then you can set the global overclocking variables with these commands: set the global GPU core clockglobal globalcore: set the global memory frequency mem: set the global fan power globalfan: 90 If you have several different GPUs, like we do in our test system, you should overclock them independently, one by one.
Remember, the overclocking capabilities of every model can vary greatly. We can see the name easy when we open a terminal: So in our case: ffc. Why stake with a pool? In addition to the benefits we outlined in our intro to staking , staking with a pool comes with a number of distinct benefits. Low barrier to entry Not a whale? No problem. Most staking pools let you stake virtually any amount of ETH by joining forces with other stakers, unlike staking solo which requires 32 ETH.
Stake today Staking with a pool is as easy as a token swap. No need to worry about hardware setup and node maintenance. Pools allow you to deposit your ETH which enables node operators to run validators. Rewards are then distributed to contributors minus a fee for node operations. Liquidity tokens Many staking pools provide a token that represents a claim on your staked ETH and the rewards it generates.
This allows you to make use of your staked ETH, e. Comparison with other options Solo staking Pooled staking has a significantly lower barrier to entry when compared to solo staking, but comes with additional risk by delegating all node operations to a third-party, and with a fee.
Solo staking gives full sovereignty and control over the choices that go into choosing a staking setup.
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When you are mining with NiceHash you are basically renting your hash power to others who are looking to mine a specific algorithm. For renting your hashpower you are getting paid out in BTC. This services is great for small miners mining from their home Windows PC. But still not as great as mining ETH directly through a pool. The only advantage of this service is that it provides easy to use application.
Beginners think it makes mining simple. Increase your profits by mining Ethereum with pools. ETH mining pools According to miningpoolstats. It displays the list of all active Ethereum mining pools. The list keeps changing and is ranked based on the pools hashrate. So how do you choose the pool and which one from the list is the best Ethereum mining pool?
Also consider the server location of the pool. The closer your mining rig is to the server, the more efficiently it can mine. Some pools are better for miners from certain regions of the world. For example: f2pool, spark pool, spider pool and bee pool are best for China. Anyways most of the mining pools offers multiple server locations so that the miner can choose the server that is close to their location.
So now which mining pool is the best? There is no straight answer to this question as it depends on several factors. Each pool has their pros and cons. In general there are few attributes you may want to consider when comparing pools like: Payout method used by the pool, pool size, pool fees and the minimum payout threshold. Choosing an Ethereum mining pool Here are few factors you want to consider when choosing an Ethereum mining pool: 1.
Pool fees: The first thing you need to consider is the fees charged by the pool. How much does the pool charge? There are certain pools that charge as low as 0. Pick the one that seems fair to you. Payout threshold Ethermine; one of the largest ETH mining pool used to have a minimum payout of 0.
But now its 0. Especially if you are small miner or mining from your gaming PC with a single graphic card. For example Ethermine pays out every two weeks if your balance is below 0. Unpaid balance above 0. If you want your payout earlier then find a pool with payout lesser than 0.
Transaction fees charged: Other than pool fees take a look on the transaction fees charged by the pool. This is something that is not charged by pool but by the miners. Some pool pays their miners with 1 Gwei transactions into their own mined blocks. Such pools have zero transaction fees. You fully get what you mined.
For example Ethermine has no transaction fees. That is once you reach the minimum payout threshold of 0. There are certain pools that uses your balance amount to cover the transaction fees. Pool size: There are certain pros and cons to mining on large pool vs small pool.
Its really up to you whether you wish to join a mining pool that represents a huge part of network hashrate or the one that has the moderate hashrate. Currently Ethermine is one of the largest Ethereum mining pool. With large mining pools the chances of finding blocks are higher but your payout will be smaller.
With small pools the payouts are big but the time taken by these pools to find blocks will be longer. Payout method: Another most important thing you need to look at is how are payouts calculated. Is the pool only paying you the block rewards or they including both transaction fees as well as the reward from uncle blocks?
You will create an exact duplicate of the ISO image to your designated drive. From the FILE option select the. ISO file extracted in the previous step. Click Continue. Select the drive where you want the ISO image cloned. Is preferable that you use a regular hard drive or an SSD. Double check the selected drive, any data will be forever lost.
Click Start and wait a few minutes. You can use your preferred editor, for example gEdit, a GUI editor, which is bundled in with the distro. The first thing you should set up is the proxywallet variable - a complicated way of saying your address that you want your mined funds sent to. The second step is to input the mining pools you want to mine in proxypool1 and proxypool2 the second pool is a backup just in case the first one fails!
After this threshold the mining is stopped maxgputemp: 95 this is the default setting in EthOS and it is recommended that you leave it as is. Lower is better. This option depends on your internet connection and your CPU. The default value is Now your new settings are in place. One important feature that EthOS has is the remote config option. This makes administering multiple rigs very easy. To take advantage of this, just take your local. Now you can overclock, restart, change your mining pools, all by just updating this single file.