How To Mine Ethereum Now

[besterino]

why not (also) simply use your gaming rig while you're not gaming? setup is easy and claymore runs quite efficiently also on windows (although I can only say for NVIDIA 10xx). Fire up the command in an admin CMD and that's it.

 

[Nintendork]

benedict78
You will earn more money buying AMD stock whenever it hits some low avrg and wait than wasting money trying to mine.

With proof of stake on ethereum mining is gone (the gpu mining has at most 6 months of life).

 

[Nintendork]

besterino
Because you will make no money and actually waste more in electricity bill, while hurting your gpu life with a really long time to actually make a profit.

 

[Nintendork]

Ethereum mining right now is all about the highest MH rate with the lowest power consumption/highest efficiency (undervolt), lowest price for the setup and electricity bill possible.

 

[Olle P]

... My current "leftover" GPU is an R9 280. That's plenty strong for some hobbyist mining.

My "leftover" R9 280 got new life in my son's gaming rig.
It sucks some ~250W on its own, which means a mining rig with it should draw more than 300W from the wall while producing roughly 1/3 the hash speed of the article's rig.
Doing the math that means it will just about reach a break even (income minus electricity cost) if mining Ethereum.

 

[Olle P]

Mining runs the transaction and ledger network these coins run on. ...

... and once mining of a specific currency become too expensive to make any profit there won't be any mining. Transactions might become very difficult to do. The value of the currency will most likely drop to (very near) zero.

 

[TJ Hooker]

Mining runs the transaction and ledger network these coins run on. ...

... and once mining of a specific currency become too expensive to make any profit there won't be any mining. Transactions might become very difficult to do. The value of the currency will most likely drop to (very near) zero.

The difficulty is dynamic to maintain a constant rate of blocks (chunks of transactions) being hashed. If it becomes to difficult such that some people stop, the network difficulty would just go down.

Also, Ether will be switching from a Proof of Work to Proof of Stake scheme in the near-ish future. I don't know exactly what this means, but I know that Ether will no longer require massive hashing power like it currently does.

 

[gnyff]

Probably should google this a bit more before posting, sorry... ;-) But the world is /actually/ using resources (time, parts, and electricity) of "mining" a (unbacked, but I guess most are ;o) crypto currency?!? No useful work is actually done (?); the machines are just calculating random stuff made sufficiently difficult to match the hardware of today? I hope I'm missing something here - but I say use the hardware/electricity for fun or work and leave the waste of resources to....hm... can't really think of a "purpose" that not either useful or fun... [2 degrees target long gone! And US out of Paris?!]

 

[ctmadden86]

It is a gimmick, always has been, always will be. As an average user unless you get in on this kind of stuff right at the bleeding razors edge of profitability you will not make money. The market becomes too saturated and nothing pays out after a certain point. So along come the get rich quick dummies who dump 5K in to one of these crap farms only to find out they have been duped. The only thing these people do is screw over the PC gaming community by driving up prices on GPU's to astronomical levels and drive down availability to near extinction. So the next step in the chain is for these people to turn around and try and sell their flogged GPU's for a still exorbitant price on to the next dummy who has even less of a chance of making any money with it and the beat goes on. Finally all this crap will blow over and some sense of normality will return to GPU pricing for a while until the next mining craze (scam) hits and more dumb people line right up the toss the market in the toilet all over again.

 

[kyotokid]

...this article does a disservice to gamers and 3D artists by promoting cryoptomining which has driven up the price of GPU cards to ridiculous prices.

 

[RedJaron]

...this article does a disservice to gamers and 3D artists by promoting cryoptomining which has driven up the price of GPU cards to ridiculous prices.

Comments such as this indicate you didn't actually read the thing. Show one place in the article I advised someone to go out right now and buy a new GPU. Even one place. It's ok, I'll wait.

The whole premise of the article is mining on leftover parts, those that are a generation or two old that have already been purchased and are sitting on a shelf gathering dust. I say many times that purchasing new parts now explicitly for mining is a bad idea since you will likely not see a return on investment for them. Nothing in here affects current GPU supply and demand.

 

[bentremblay]

"Wait, we did that ...."
Lovely.
I was doing SigInt 1972. Truly truly leading edge tech with every device.
Barney Rubble doing Signal Processing with something that looks like a toaster ;-p

 

[kyotokid]

...as a 3D artist on a tight budget I personally would love nothing more than to see the entire cryptomining bubble burst. Maybe then I will finally be able to get a 1070 at a reasonable price again instead of having to shell out almost as much as for a 1080 Ti.

Getting a little weary of rendering in the CPU slow lane.

 

[einarjohanson]

I've been following the guide at CoinMiningRigs dot com and they recommend the 1070 GPU, but I heard the AMD RX 470 is the best GPU for mining Ethereum. Is there some comparison of these two graphics cards I can reference?

 

[kyotokid]

..affordability stream processors/cores and a stable price are in favour of the RX 470. Where the 1070 comes out ahead is higher boost and memory clock speeds as well as peak performance (6.5 TFLOPs vs. 4.9 for the RX 470) and higher memory speed (8 GB/s vs 7GB/s).

 

[Olle P]

... No useful work is actually done (?)...

Not exactly true. The work done is to verify all previous transactions done with the currency.
The block-chain concept used for these currencies are now also used to keep track of many other types of transactions.

 

[CaptainTom]

Mining runs the transaction and ledger network these coins run on. ...

... and once mining of a specific currency become too expensive to make any profit there won't be any mining. Transactions might become very difficult to do. The value of the currency will most likely drop to (very near) zero.

Good lord when will people like you stop harping about how Bitcoin will be worth "near zero" any day now?

BTC is worth $4400, and it is nearly a decade old. It is here to stay grandpa.

 

[Crashman]

Mining runs the transaction and ledger network these coins run on. ...

... and once mining of a specific currency become too expensive to make any profit there won't be any mining. Transactions might become very difficult to do. The value of the currency will most likely drop to (very near) zero.

Good lord when will people like you stop harping about how Bitcoin will be worth "near zero" any day now?

BTC is worth $4400, and it is nearly a decade old. It is here to stay grandpa.

Spoken like a true tulip trader

 

[Lieutenant Tofu]

Superhuman Samurai Syber-Squad, Episode 17: "Money For Nothin' & Bits For Free"