The Ethereum BlockChain Explorer, API and Analytics Platform. How to mine Ethereum 'the Easy Way' Ethereum is quite difficult to mine on your standard PC as there are quite a few step to go through as can be seen in our.

The Ethereum network began a planned hard fork at block number 4,370,000 yesterday and it appears that the Byzantium hard fork has been a smooth transition so far (). Miners are having some fun as they are seeing that some blocks are being mined in as little as while others are taking almost a minute during the transition time we are currently in. Over the past month we have averaged about 30 seconds seconds per block and with the fork adjustments that has dropped down to just over 14 seconds!

How Ethereum Mining Works. Ethereum's mining process is almost the same as bitcoin’s. It's difficult for miners to cheat at this game. Winter is coming. The difficulty-bomb is starting to expand. Miners need more and more time to find new blocks. This process shall help to improve Ethereum by switching to Proof of Stake! The difficulty bomb isn't really noticable yet. Since the beginning of this year the price of ETH increased dramatically. Thoughts on ETH Mining. @Cryptux The dramatic increase in difficulty is a direct result of the dramatic increase in network mining. Ethereum has the concept of.

The ETH rewards for a mined block has been cut from 5 ETH to 3 ETH to combat inflation, but miners are seeing about a 30-40% increase in profit with the hard fork changes! Is showing that a single AMD Radeon RX 480 was getting $0.94 in profit per day on October 16th and just 24 hours later that card is now bringing in $1.37 per day. That is a 40% increase in profit thanks to the difficulty being readjusted lower and the lower block times! The Byzantium hard fork hasn’t brought us back to the $4+ dollar days we experienced back in May 2017, but we’ll take it! A single AMD Radeon RX 480/580 video card will bring in about $42.50 per month after power. You can actually buy AMD Radeon RX 580 video cards now with prices starting out at just for the 8GB model or for the 4GB model. ETH should go Proof of Stake (PoS) long before 4GB cards go obsolete, but who knows about other alt coins that might become more profitable to mine in the months and years to come.

You are looking at just over 6 months to get you GPU investment back at current prices and difficulties if you mine 24/7. If you happen to look at mining profitability calculators today be sure to look at the numbers carefully as hard fork has many thrown off! Why mine for such little profit?

Ethereum now has a US $30.77 billion market capitalization with a price $323 per ETH, but many expect that price to continue to go up. Those bullish on ETH believe that it could reach a target price of $650-$800 a ways down the road. If that happens it means that the ETH mined today will be worth more later and that The other thing that you have to remember is that much of the Nothern Hemisphere is entering Autumn and that is bringing cooler temperatures.

We fought over 110F temperatures this summer when we were mining with dozens of cards in June-August and our electric bill was crazy since power rates in the summer were $0.1261 per kWh. Now that summer is over we have 8 months of winter rate electric costs and that puts power at $0.0878 per kWh up to 750 kWh and $0.0602 per kWh once over that threshold. One can also use the mining systems as a source of heat for the home, so rather than fighting the heat from the systems the warmth is actually beneficial! So, we are seeing a 40% increase in mining profitability thanks to the Byzantium hard fork and over a 30% reduction in electricity costs due to lower winter rates in our area. We often have people reference our articles from June 2017 and ask if we are still mining. We did turn some machines off near the end of summer as we had over a week with 110F temperatures and our mining operation room was cooking.

We’ve since turned them back on thanks partly due to the cooler weather and increase in mining profitability! We are still using Claymore’s Dual Ethereum AMD+NVIDIA GPU Miner v10.0 () and the Ethermine Ethereum Mining Pool () with solid success. Since our original articles we’ve gone back and picked what Ethermine servers we connect to in the bat file based on ping times now. We are based in Missouri and discovered we get 32ms ping times to the East coast Ethermine servers versus 62ms ping times to the West coast servers.

This simple server switch has decreased the number of stale shares we’ve gotten and that helps the bottom line. Our video cards are all overclocked and undervolted as much as we can get away with and Windows 10 has been tweaked to ensure solid 24/7 use. We’ve been mining for roughly six months now and it’s been profitable for us. We’ve learned a ton of things along the way and hopefully those that purchased hardware back in May/June/July have had a similar experience if they stuck with it 24/7.

It would be nice to see the price of ETH higher, but we are still making money and most importantly having fun! Hopefully the same goes for all of you! If you are new to mining and want to build a system for mining we highly suggest starting with. Be sure to check out our previous coverage on Ethereum mining: • • • • • •. Hi Nathan From my point of view, after Byzantium we only obtained between 10-20% increase in mining profitability. I have a mining rig with 6 overclocked NVidia GTX1070 cards doing 32MH/s each.

Before Byzantium my estimated earnings were 0.76ETH per month and after the Byzantium the estimated earnings is 0.94ETH. I wrote to Ethermine.org Support and they told me that “the difficulty decrease has only brought about an increase of aprox 10% regarding miner profits. Though the difficulty has decreased, the reward has also decreased from 5 eth to 3 eth every block found. This along with the same amount of network hashrate means less rewards to go around to miners.” Therefore in my case the profitability was increased in 23%.

In this 5th video interview with (one of the co-founders of ) at the first held in south Austin, we talk about mining Ethereum with Vitalik. In Bitcoin, “mining” serves 3 distinct purposes: • To PROCESS Bitcoin transactions. • To SECURE the Bitcoin network/protocol. • To MINT new Bitcoins. Many people in the competitive cryptocurrency market are attracted to mining so being able to mine a coin can attract lots of new users and adopters of Ethereum. Therefore, we want to ask Vitalik: • Is there any mining involved in Ethereum?

• Who can participate in the mining process? • Is Ethereum ASIC resistant? • What prevents Ethereum mining from becoming centralized like Bitcoin? • What is unique and different about Ethereum mining? I hope these series of videos about Ethereum will help you make a better and informed decision whether or not to invest in Ethereum.

Here is video interview (5 of 6) with Vitalik conducted by myself, Leon Fu, and: Here is the interview we did with Vitalik: Tai Zen: What’s up guys? This is Tai Zen again with. It is a blog where we talk about the tools, the techniques, and the strategies and the technologies that is available to help people find freedom in their life.

And with us here today is James D’Angelo from the World Bitcoin Network, and we also have here Vitalik, with the Ethereum project. These are some of the guys that is in the forefront of helping people find freedom when it comes to the currency world. How old are you Vitalik? Vitalik Buterin: I just turned 20, month ago. James D’Angelo: Congratulations! Tai Zen: Okay, good job!

Hey, is it /vay’talik/ or /vita’lik/? Vitalik Buterin: /vay’talik/ Tai Zen: /vay’talik/ Okay. And last name, Buterin? Vitalik Buterin: Yeah. Tai Zen: Since you have brought up the miners, right?

Is there mining inside Ethereum? Vitalik Buterin: Yes. Tai Zen: Is it similar to what the mining is in Bitcoin? Vitalik Buterin: Yes. Originally, we wanted to have some kind of mining algorithm that helps fight against centralization. So, originally, we were looking at memory hard ideas like Dagger.

So with Dagger, I came up with an algorithm that is like two hundred times more memory hard [intensive] than script, while simultaneously actually being slightly easier to verify then script. Software Needed For Siacoin SC Mining. Tai Zen: What is the purpose? Is that, so that you have a decentralized mining network? Vitalik Buterin: So, the process of that is, to make it more difficult to create ASIC’s chips for it. So, as it turns out, Dagger is great mathematically, but it is not all-that great when you have GPU’s with shared memory. From there, we have moved on to a different Proof of Stake ideas. Our latest idea actually, is interesting and it is a Proof of Work based on executing random transactions on random data from the block chain.

The point of that is, in order to be a miner, we have to store the entire block chain and you have to have a functioning Ethereum scripting engine. From that, you basically remove a lot of centralization because right now Bitcoin’s mining system has always been heavily centralized, because you have Bitcoin miners that are just grabbing block headers from places like GHASH.io and they are just mining on them without even thinking about their mining. So GHASH.io has a lot of control over the whole system.

Here, that is not really possible. If you want to mine, there is no real benefit into mining in that pool mining setup.

James D’Angelo: That is great. Vitalik Buterin: The other issue is, first of all, it is memory hard. It is going to be harder to make ASIC’s, but it is not probably going to be impossible. The nice thing is that, if ASIC’s exist, then those ASIC’s are going to simultaneously be the same ASIC’s for processing transactions. That would actually help our scaleability problem.

James D’Angelo: So, doesn’t that mean that if you are digging into the block chain, to my understanding, that you are actually going to parse the the block chain much more, with a little more error in it? Right now, the Bitcoin block chain is so packed that I can’t get in it on my Bitcoin D just to grab stuff. It’s been a common complaint.

Vitalik Buterin: Well, you can grab stuff. Like in the Bitcoin D block chain, if you set the TX index equals 1 flag, then you can actually query any transaction. James D’Angelo: Are you serious?

Vitalik Buterin: Yeah. James D’Angelo: I got to write this down. Tai Zen: So, that is to show he is qualified. James D’Angelo: Say that again exactly what it is. Vitalik Buterin: So, Bitcoin.directory in the Bitcoin.con, you set the flag TX index equals 1. James D’Angelo: And I can now query every transaction?

Vitalik Buterin: Yeah. Tai Zen: Just rewind the video and watch it again if you missed that one.

James D’Angelo: It is not me who has lost a lot of time. It is a lot of people that have been working on parsing. I haven’t really jumped in that. Tai Zen: Thanks for spending time with James D’Angelo from the World Bitcoin Network and myself. We wish you the great luck Vitalik Buterin: Thank you. James D’Angelo: Thanks Tai for putting all these together. Tai Zen: All right guys, thanks for joining us and what I will do is I will get Vitalik’s Bitcoin address and leave it at the bottom of this video, and James D’Angelo also.

If you guys appreciate their work, I invite you guys to support them and send donations their way. James D’Angelo: And Leon’s as well. Tai Zen: And Leon’s as well. James D’Angelo: The cameraman. Tai Zen: Yeah. And send them some coffee donations or soda donations. I am pretty sure you drink a lot of soda when you are programming.

Vitalik Buterin: No, actually. Tai Zen: Coffee?

Vitalik Buterin: Green tea. Tai Zen: Green Tea? Okay, there you go.

Send some green tea donations to him. So, thanks for joining us and I will see you guys in the next video. ================================================ Click the link below to watch our 6th and last part of our conversation with Vitalik where we talk about the differences between Ethereum and other alt coins: You can support and donate to our efforts on our.

Be sure to also donate Bitcoins and support the work of at his BTC address: 1javsf8GNsudLaDue3dXkKzjtGM8NagQe Post navigation.