The Ethereum ETH, or simply ether became a sensation in the world of cryptocurrency as suggested to solve within its own network, built on blockchain technology a huge amount of the problem, not one specific, as in the case of bitcoin.
It is with the brainchild of a team of enthusiasts, led by Vitali Baleriny in the world, the notion of cryptocurrency ecosystem, become habitual in a very short time.
Within this material, consider the concern of many users question about the mining of Ethereum.
Many owners of production capacity has shifted to extraction of the Ether immediately after the presentation of its major advantages.
The reason for this was some remarkable features of the process:
- Unlimited emission of coins ETH. Because the Ethereum network is an ecosystem with unlimited smasshtabirovannogo, the amount of the estimated funds within should not be limited to;
- Market capitalization at its peak was $135 billion, which is subject to the first paragraph may compete with BTC;
- It is the Ethereum could become the first crypto currency officially recognized in Russia. To the word. Unofficially it is already actively used by many private and some government agencies;
- High volatility coins creates the potential for a solid round capital not only miners but also speculators.
Before you study the material related to mining Ethereum , you need to know a few facts:
- Mining any cryptocurrency is constantly being complicated, and the amount of remuneration for each block decreases. This requires a permanent increase in oil production capacity, to obtain a relatively stable income;
- The value of any coin is based only on the psychology of market participants and not backed by anything;
- In respect of mining there is a message Ethereum co-founder Vitalik Buterin on the transition network Protocol PoS (proof of storage). This will cause all power to mining Ether will be out of business.
Despite the not very promising prospects, mining cryptocurrencies is very active and periods when another negative forecasts are not met, there are bursts of activity miners and price spikes. However, the overall price chart on the coin downward. skip to content ↑
What is mined Ethereum?
The network is not enough pictures and articles about the endless corridors between the shelves, which exhibited an incredible amount of mining equipment.
Yes, mining industry constitutes an important part of cryptocurrency networks, however, true decentralization is to place a small private mini-and medium farms for production.
Variants of mining Ethereum three:
- Home PC mining coins during idle time;
- Mining farm, mentioned below;
- The leased equipment.
They represent an open system block, or a special frame for the farm in which is placed a filling of any system unit.
The only difference is the number of cards connected to the system.
It varies depending on the motherboard and finances of the owner from 1 to 12 on one farm.
The cost of equipment to start work with one graphics card starts from 15 000 rubles. Price for one card for the extraction starts from$300.
The ROI is calculated in such a way that the profit was formed after 8 – 12 months.
That is, all the money invested has already been worked out, at least equivalent to Ethereum.
Such terms dictated by the warranty period for the work cards. Due to the fact that you are working on the maximum modes the clock and often under software acceleration, the probability of card failure is very high.
The replacement warranty is a very good way to protect yourself from force majeure.
The first benefit is that the burned-out warranty card is redeemable, and therefore will not have to buy a new one at least once.
However, the shortage of powerful graphics cards on the market significantly lengthens the procedure of the warranty exchange, because it is recommended to keep 1-2 cards for hot swapping.
The second benefit lies in the possibility of sales with a residual guarantee gamers for the price of new or close to that.
In addition to graphics cards, which will be a separate Chapter for mining-farm Ethereum will also need other equipment, unjustly neglected many reviews and guidelines:
- RAM. For farm work enough volume of 4 GB of modern memory, but it is better to have 8 or 12 GB and set the maximum volume for the swap file on the hard disk;
- Hard disk. You can use any working drive with no bad sectors and errors on which to fit the operating system from Win7 driver and multiple service programs;
- Processor. To work through your home PC, you can use any processor. For multiple graphics cards should be CPU, able to provide for each card a single core (physical or logical does not matter);
- . To operate the graphics cards in the network contains pre-built drivers for most popular configurations. If the experience of the first, so to speak, the test is to update the drivers to the latest versions;
- Internet connection. In an ideal situation should be a dedicated line with the maximum bandwidth (100Mb). Choose a provider not on the price, but from stability as each gap will require a restart of the process of mining of Ethereum;
- The power supply unit. For a home PC or a system with a single graphics card will fit a standard PSU. If you plan to add video cards in the future or farm from going under a few, the PSU should have 15% margin of power compared to consumption of the all of the farm value. For each model of iron and the maximum nominal consumption indicated in the specifications. For farms with a large number of graphics cards used two and sometimes three of the power supply.
Graphics card for mining Ethereum
This question specifically in a separate piece of material, because of the graphics card are the key and most expensive elements of the process.
The separation of graphics cards for mining is made according to their performance. It is considered the number of compute operations (hashes) per second. For Ethereum measured in millions of operations mahahahah (Mh/s). Performance most commonly used for mining Ether graphics cards are summarized in the table.
In order to calculate the profitability of one or multiple graphics cards, you must use the special calculators of mining, taking into account the many variables in the computations.
Accounting is not only for nominal performance but also for the cost of electricity, the Commission fee of the pool and other variables.
The result offered by the calculator, covers multiple time periods that allows you to calculate the payback period of the equipment and the profit that will be obtained after.
Important. The calculation is performed for a specific point and there are several reasons:
- Current complexity. We mentioned that it is growing, hence, the profitability from the same can see over time will be reduced;
- The value of the coin. It can vary more than 100% per day, respectively, and the calculation of the payback period will be different every time;
- The cost of electricity. Despite the seeming insignificance of the cost of the kilowatt/hour, in terms of a month or a year, the total amount is quite significant, and provided that the overrun above the set rate are paid at a premium rate billing becomes almost the main item of expenditure.
Tip! Before you invest time and money in mining Ethereum will study the appropriate forms and information portals, covering the topic, ask all your questions and prepare alternative options for production, allowing in the case of force majeure, ETH to switch to other coins.
It is also important to expose yourself to the percentage ratio between those coins that are sold and those that remain as investment.
The issue of overheating
In the process performance is strongly heated, and should carry for maximum distance.
For this purpose risers. Overheating of the cards causes them to shut down or burnout.
The second negative aspect of farm operation – noise.
Coolers graphics cards working at maximum revs and when using at least three cards of the noise from them is very noticeable.
If they are 6 or more, stay in the same room more than a couple hours becomes impossible.
The solution of the problem is the removal of the farm on a balcony or in a separate room and provide adequate cooling.
For large capacities to a separate room with minimal dust conditions at the appropriate Standards distance from residential areas or buildings.
Some miners transferred to farm for mining Ethereum and other cryptocurrencies on water cooling. This minimizes noise and stabilizes the temperature.
The weakness of this approach is the price of professional equipment for water cooling.
Independent production of parts of components increases the risk of leakage, which is fatal for electronics.
However, as coolant can be used dielectric, but the question again.
Companies offering to rent some processing power is not enough.
Not all of them are reliable and the choice of a specific proposal, the topic of a separate material.
They have in common the principle of operation. It consists in the fact that the company purchases computing equipment for their money, placing in private rooms and self-catered.
Clients are encouraged to buy a contract in which all power produced purchased coins throughout the term of the contract will be sent to their wallet.
The benefit of the company that they take a small Commission for the service, and their ownership is purchased equipment.
The benefit for the customer is obvious, provided that investments in reliable project. In the absence of any time-consuming without having to pay electricity bills, to buy equipment, configure it and maintain it receives an appropriate leased facilities number of coins. skip to content ↑
Choose a pool for mining Ethereum
The format of the production, we understand, considered the main hardware components we now turn to the mining process.
Mining Ethereum own a losing solution unless You are planning a production in industrial scale.
The participants of the production process combine the power into a common network pool and this is due to the feature of the process of block generation.
The rewards for finding the new block is given to those participants that pool, who first found the title.
All the other participants in the process get nothing. Also, large power provide the fastest to generate new blocks, therefore, commissions are paid more frequently.
Independent work with small capacity will be unnecessarily long and perhaps devoid of any meaning, since the more powerful the pools will finds blocks before.
The community to which to join the novice miner is quite acute.
By means of natural selection was formed a the TOP pools for mining Ethereum:
- For coinmine;
- Zcash for;
Each miner chooses a particular pool based on their own reasons, the information received from the network or on the recommendation of the elders.
Parameters that determine the choice are:
- Power. There are pools that only works with a specific coin, there are the so-called multipole. It is important to establish the total capacity for Ethereum. The higher it is, the more likely and faster will be the payment of remuneration;
- Reputation among miniscule community. This argument is often more important than power, because not enough projects were closed due to technical reasons or being accused of fraud.
- Reviews on forums and niche sites. This factor partly forms a reputation, but it is important to separate the real difficulties in working with Frank flood or paid attempts to denigrate the competitor;
- The principle of payments, their frequency and highly automated. Most pools pay the coins to the appropriate accounts or specialized multicell. Others give the opportunity to withdraw funds directly to a trading platform;
- The Commission pool. He is averaging 1% to 3%. The value of small, but ceteris paribus miners choose the better offer;
- Russian language support. Despite the fact that the work in the pool intuitive, and most of the sites on this topic there are step-by-step instructions for working with each of the TOP pools, independent understanding of the process and the opportunity to explore the project play an important role, especially for novice miners.
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Choose and configure the program.
Mining Ethereum will not start after starting the PC or farm. To initialize the process, you will need a special program called a miner.
Such programs are developed by a large number of both universal and specialized.
The miners created under a specific currency and a specific type of graphics card shows great performance.
Mining of Ethereum on the AMD recommended using Claymore’s Dual Miner.
Overview this software can be found here. The program allows you to mine bitcoins at two algorithms, but requires fine-tuning.
For Nvidia cards the best is EthMiner a bit, but increasing the hash rate of the most popular in the mining of GPUs.
Information for each offer on the network very much. Users offer their own settings and assemblies for all popular PC configurations and farms, as well as recommended drivers for each model.
Installing drivers and miner takes a few minutes. You need to edit the launcher and debug files. In the starting file, you specify the pool address, your wallet address for payout, and password for the Walker if necessary. Debug files are edited for optimum performance and heating graphics cards. skip to content ↑
Laminarnye coins pool need somewhere to send, because the internal accounts, where for a long time can be stored cryptocurrencies have pools there.
Cryptocurrency wallets are of several types:
- Software. Represent a software shell in which to store the coins. They are divided into the desktop, those that are stored on the PC and mobile app to use smartphone as a payment instrument;
- Hardware. Special devices with a high level of protection, not working offline. They need to be connected to a computer/tablet to be able to complete the transaction. A very convenient way of investment storage and transportation of cryptocurrencies;
- Paper. This type of storage is printed as a QR code private key from crypto. The probability of cracking without the key is extremely small, but the safety of it in a state in which the scanning of the user’s task.
Regardless of which wallet is selected, it is necessary to register and to generate an address to send coins.
Another method of storing and treatment of crypto-currencies are trading account crypturi, is both wallets.
Not all pools support automatic sending small amounts of money to the wallets of exchanges, therefore the choice of wallet and pool to work you need to produce simultaneously.
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Run mining Ethereum
When everything is set and ready to start, only enter the edited files with the appropriate information, pool address, and account number.
After that, activate the start file.
If done right, the miner will show the number of active cards hash rate with which each works and the progress of finding new blocks.
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How payments are made
We mentioned that the pool does not hold funds in their accounts for a long time.
Payments are made in two ways:
- On a daily basis. At settlement, all the coins that are on the user’s account in the pool are paid in one payment on your account account;
- From minimal amount. The pool sets the minimum amount of payment and automatically pays it with achievement. In some services allowed adjustment of the minimum stake on both sides.
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How to turn Ethereum to Fiat money?
Despite the fact that payments in the cryptocurrency will be accepted by an increasing number of outlets, many acquisitions can be done for the Ethereum.
To convert you can use several options:
- Selling on the stock exchange at the current price. Actually exchanged through a market order. The user puts their number at the ETH current price and receives USD or RUR;
- Selling at the right price. Also, stock exchange operations, but a pending order. The user sets the necessary price than the current one and indicates the number of ETH that is going to sell. If the price reaches the specified level and will create a counter-warrant deal closes, and each party will receive their benefits;
- Exchange through the machine. Exchangers that tracks the current price of the asset and instantly exchanging Fiat money and cryptocurrencies between them are very popular. The process is really fast, but the course is not always the best;
- Private sharing. Used infrequently, but if both parties know each other and the course suits them, an exchange or transaction occurs.
The best the current rate display multiple monitoring services, for example, Bestchange (for exchangers) and Coinmarketcap (cripture).
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The profitability of mining Ethereum
This question is frequently asked among those Who are planning to invest in the mining of Ethereum money, not using home PC or working equipment.
Specific numbers for this process can not be specified in the section on calculations of payback written why this is so.
The key parameters in the calculation of profitability is the farm hash rate and the value of ETH on the exchange. The average for single card is the profitability of 3-5$ a day. If the profit is less than$ 3 investment may not be recouped in principle. A reading above 5$ says that the market is in the growth phase that can not last forever.
In addition, profitability is constantly decreasing due to the growing complexity of production and reduction of remuneration for each block.
To stay at a stable level, power should be expanded.
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In this article we discussed the key stages of the mining Ethereum, as well as key sites and components involved in it.
Despite the fact that, to start production, and everyone can, only process-how business will make an adequate profit.
The world has formed several mining conglomerates with huge computing capacity which very quickly deduce the complexity of a mining of new cryptocurrencies on a high level, collecting the cream in the form of new tokens or coins.