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June 1, 2017
Ether Mining
Why aren't you mining Ethereum right now?Anonymous(ID: b7aZna2+)05/31/17(Wed)13:16:40No.2242468▶
Why aren't you mining Ethereum right now? Literally free money for a one time investment.
>>2242468 (OP) Shit I bought myself a 1070 for gaming, it mines eth in my offtime. At these rates I make about $3.50 a day (26 MH/s), so 4 months of mining will pay off the card.
>>2242497 Eth is the easiest coin to mine, at least that I've tried. Download the wallet and let it fully sync so you can get an address, then get a miner program and find a pool. I use dwarfpool, they take 1% usually. Most pools you have to make an account and sign in to check totals and send yourself the eth you've mined, but not dwarfpool. You just punch in the address, and tell them your IP to authorize payments. They hold the eth for you until you get 0.1, then you can send it to your wallet on your computer. The miner is started with a batch file you edit to point at your wallet address, it's super easy.
>>2242572 Hmm, well I was more curious about setting up mining racks, im not the most knowledgeable about gpus, and mining setups look real neat, but i dont know how to start/run one
Never mined before, always thought about it, but figured it was always too late. Obliviously the case with bitcoin, but want to see if I can make something off of eth. I've got a single 1080 that I bought for games, etc, would be using that. What program would you download to mine, etc? And does mining actually trash your card after a period of time?
>>2242693 Depends on power costs. People with cheap power love the R9s since they put out a lot of hashes. They're power hogs however so it's either very profitable, or very not.
>>2242633 It's going to be the same process, just scaled up. How big you wanna go? Getting on a dedicated forum would get you a lot better info than this place.
>>2242831 Well for now im simply curious about it, I need to know a signifigant amount more before I get an idea of the size. Since you mentioned it, can you reccomend any forums for this?
I mine SC but the computer I use is old. I have it set to wake at 1am and sleep at 6am so it only mines when no one in the house is using the internet. I probably won't even make enough to pay off the extra power cost, but I don't pay the bill :^)
>>2242888 With those digits I have to help. A quick search tells me the highest volume of posts is on ethereum.org's mining forum. I don't have the spare cash to build a miner, but if I did that's where I'd be looking first.
>>2242923 Does it jack with your network? My brother gets nasty lag on his xbox when I'm syncing a wallet, or even have the wallet running after it's synced, but the mining doesn't affect the xbox at all.
I've got a pc with an i3-4130 and an R9 270x. Used it for gaming a year or two ago, now I just use it for browsing the web. Would it be viable to use this for minig purposes?
>>2242950 I set it that way to prevent lag, but last night I was up after it started and it didn't seem to have any effect. Maybe I'll make it 24/7 and see how it goes.
>>2242854 That's on the expensive side. Put your values in a calculator and you'll see how much you're spending in electricity compared to what you make for hashing.
>>2242978 The point is that after initial investment and setup you spend zero time on it. This is passive income. You do nothing but check your wallet every week or so to make sure your coins are coming in. >>2242992 Yes it's still a good card to mine with.
>>2242598 I remember mining 12 bitcoins with my 5850 when I was about 17 or 18 (and selling for 7 usd)
I'm still using that card today, looked up mining, but its hopeless. Now I'm mining Burst with 8TB off HDD space I had laying around for a pathetic ~40 cents a day
>>2242650 The heat is what trashes it. If you kept it -200C, without accumulating frost on it, it would run on its merry way for decades. All about that entropy, brah
>>2242639 A CPU its processor cannot efficiently multiply binary. A graphics card is much better because games use a lot of multiplication for graphics. So it is like optimized for multiplayer.
>>2242468 (OP) Now that a more people will look into mining ETH from this thread enjoy your reduced profits OP, the more miners there are the lesser the profits.
>>2243953 Bought rigs last year november, initial roi took about 4 months, paid 5.5k$ for parts, so far total revenue is over 30k$ and it could have been a lot more if I just stuck to eth since day 1 and held. Currently you can roi in 2 months or less.
>>2244110 I don't believe segwit changes anything with mining, but I am not 100% sure.
I'm not really scared of eth pos as I already made more money than I ever expected. As well as the existance of wall of mining profitability, generally when single gpu makes 1$ of revenue per day, people with high power costs must drop out of the game because they are mining at a loss, I have cheap power so it will most likely not affect me, and after a couple of months when people sell their gpus and claim mining is dead, the difficulty should ease up and mining profits go up again. And with 19 cards mining for 1$ each well, it's almost 20 bucks a day, and 20 bucks is 20 bucks.
>>2244110 Going to PoS just means miners will receive transaction fees as their award for finding winning blocks, instead of receiving newly circulated Ether.
It literally says the forgers (what they're called, instead of miners) will receive transaction fees in the first paragraph of what you posted, just like he said.
>>2246153 You can, yes. If you're mining ethereum, just follow this guide (assuming Windows because this is the most technically incompetent board on 4chan): https://www.reddit.com/r/EtherMining/comments/5x4etf/brainless_ethereum_pool_mining_with_windows_a/
inb4 >reddit It's the easiest guide out there, shut the fuck up and read it.
>>2246821 Mining hardware for ether is pretty much just mining hardware in general. Most altcoins are ASIC resistant nowadays, so investing in GPUs is actually a great option, even longterm; as long as an altcoin is traded on the market for bitcoin, you can earn fiat for mining.
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