While, on the surface, this is incredibly easy, as I'll show below, you must be aware that mining is very much like trading. Cryptocurrency prices fluctuate, your equipment might break, and so on. For example, when I started putting this project together, the rough number estimate was that I'd recoup my investment within six months.
Now, with the same calculations, it would take eight months. The advantage of mining over trading is that coin prices can be somewhat more stable, and at the end of the day, you'll still have the equipment. Which, if you've chosen wisely, wouldn't have lost too much of its value. Calculate your expected hashrate and Payout First, you must calculate how much your hashing power will be. If you already have some GPUs that you're planning to use, then you can use Google to find out its hash rate.
Alternatively, you can use a site such as CryptoCompare to determine what the best value for money GPU is. However, I've not yet found a database with a full list so you may wish to start your own excel file and compare the hashrate you get per dollar spent. GPU prices can also vary significantly, country to country, so make sure you take this into consideration as well.
Therefore, if you see second-hand GPUs where you're paying less than that, then they might be worth a high consideration. Based on your hashrate you can use CoinWarz to calculate your expected payout, this would be 4. Therefore, the second most important factor is how much your card will consume, and how much you'll need to pay for this.
To calculate the cost peer hour, just convert W to kW by diving by and multiply together, so for me the rig would cost 0. Calculate your Profit and Loss, and Return So now you know how much money you're making and how much you're spending.
The calculations neglect the electricity used by the other computer components, but these are usually negligible, especially if you have multiple GPUs in a single rig. Ethereum Mining Hardware To start mining, all you need is an incredibly simple computer. You will need a mouse, a keyboard and a screen for it as well, but this is only required for the setup, so you should be able to use any existing ones that you may have. Below, I have outlined the considerations you need to keep in mind when choosing these base components and the popular options for each.
You can use a website such as PCPartPicker to ensure that the parts you have chosen will work together. Motherboard The motherboard is the most important aspect of any mining rig. The reason for this is that it needs to be able to support all of your GPUs. If you only plan on having one or two, then it's not so important. However, most people will aim to maximize and have 6 GPUs in a single rig. There are very few motherboards that will support the running of 6 GPUs.
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. Also worker name and other options if pool supports it. To avoid it, miner reserves a bit larger GPU buffer at startup, so it can process several epochs without buffer reallocation.
This setting defines how many epochs miner must foresee when it reserves GPU buffer, i. Default value is 2. Note that if devfee mining pools will stop, entire mining will be stopped too. Default value is ms. If prefix is missed, Stratum is assumed. Lbry: only Stratum is supported. It serializes GPUs initalization routines. Default value is 5 seconds.
Default value is 30 minutes, set zero if there is no main pool. After restart, miner will append new log data to the same file. If missed, default file name will be used. Reduces mining intensity, useful if your cards are overheated.
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Same for 3GB cards in Windows
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| Ethereum 2022 forum | Lbry: only Stratum is supported. NOTE 2: speed peak can be rather short, so change "-dcri" value slowly. So you have a choice: "fastest miner" or "completely free miner but a bit slower". Improved ETH speed for some Nvidia cards. If missed, default file name will be used. PSU To calculate the size of the PSU you require you will need to add together the power requirements of all of your components. |
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| Odds to win the next super bowl | Note https://promocodecasino.website/live-betting-odds-xml/1341-my-personal-information-is-online-betting.php latest Set environment variables as described above. Usually I use "ethpool" pool for tests. The primary contenders for Ethereum mining are Claymore and Genoil. Start "EthMan. While, on the surface, this is incredibly easy, as I'll show below, you must be aware that mining is very much like trading. Usually no, but it depends |
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