[Guide] Mining Ethereum

[2FA]

1 minute ago, ARikozuM said:

So I can skip Ethereum Wallet and just use myetherwallet.com?

Yeah

[vanished]

47 minutes ago, DeadEyePsycho said:

Yeah

Are those solutions not far more risky since you have no idea what the website could be doing behind the scenes?  At least an open source program can be checked to make sure it's not doing anything it shouldn't be.

[mathmeister]

11 hours ago, Kobathor said:

I get an error when I run start.bat on the miner.

Here is my batch file:

 

EDIT - Dunno why I made a post about this instead of a PM.

Trying using something like this with your new url

Quote

setx GPU_FORCE_64BIT_PTR 0
setx GPU_MAX_HEAP_SIZE 100
setx GPU_USE_SYNC_OBJECTS 1
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_SINGLE_ALLOC_PERCENT 100
EthDcrMiner64.exe -epool eu1.ethermine.org:4444 -ewal <Your_Ethereum_Address>.<RigName> -epsw x

Also how would I move my node files? It's filling up my SSD and I don't need to move it but I would rather have it on my HDD. Do I just cut and paste or do I change the location somewhere in Ethereum Wallet?

[knightslugger]

19 hours ago, Ryan_Vickers said:

I believe NiceHash has much higher fees and there's always the concern about who really has control over your wallet when you use an online service if push comes to shove

speaking of fees, between using nice hash and claymore, i'm seeing $4 less a day projected income on claymore. why would that be?

[2FA]

10 hours ago, Ryan_Vickers said:

Are those solutions not far more risky since you have no idea what the website could be doing behind the scenes?  At least an open source program can be checked to make sure it's not doing anything it shouldn't be.

It is open source and on github. https://github.com/kvhnuke/etherwallet/releases/tag/v3.9.0

That isn't a web wallet, it's a client that you download. The only thing the website does is provide the blockchain for you so you don't have to download ~24GB.

 

There are some web wallets where the devs have access to the private keys, those I would avoid. However there are plenty of hot wallets where that isn't the case such as Exodus and MyEtherWallet.

[2FA]

56 minutes ago, knightslugger said:

speaking of fees, between using nice hash and claymore, i'm seeing $4 less a day projected income on claymore. why would that be?

Claymore has a dev mining fee. It's roughly 5% of your total mining time daily. You can disable the dev fee but you get slowed down by 10%.

 

Are you mining Ether with that 1070? If so that's probably the cause since NiceHash will use Zcash mining as well which is almost 50% more profitable for Nvidia cards compared to Ether.

[knightslugger]

2 minutes ago, DeadEyePsycho said:

Claymore has a dev mining fee. It's roughly 5% of your total mining time daily. You can disable the dev fee but you get slowed down by 10%.

 

Are you mining Ether with that 1070? If so that's probably the cause since NiceHash will use Zcash mining as well which is almost 50% more profitable for Nvidia cards compared to Ether.

nicehash it is.

[2FA]

3 minutes ago, knightslugger said:

nicehash it is.

Or just dedicated Zcash mining which is even more profitable.

[vanished]

22 minutes ago, DeadEyePsycho said:

Claymore has a dev mining fee. It's roughly 5% of your total mining time daily. You can disable the dev fee but you get slowed down by 10%.

 

Are you mining Ether with that 1070? If so that's probably the cause since NiceHash will use Zcash mining as well which is almost 50% more profitable for Nvidia cards compared to Ether.

It's 1% according to the file

[2FA]

3 minutes ago, Ryan_Vickers said:

It's 1% according to the file

Hmm, I must be thinking of the ZEC miner he made then.

 

Fun fact: he receives $70k USD per month just from the ZEC fees.

[vanished]

Just now, DeadEyePsycho said:

Hmm, I must be thinking of the ZEC miner he made then.

 

Fun fact: he receives $70k USD per month just from the ZEC fees.

Nice

 

Well the fact remains, the fees for this miner are clearly stated in the readme as 1% for what I've described in the guide, or 2% for dual mining.  I friend looked up nicehash and got the following:

Quote

Sellers:
Fee for all nicehash-wallet mining payments (regardless of size) is 2%. 
Fee for payments with unpaid balances, greater than 0.1 BTC to external-wallet is 3%. 
Fee for payments with unpaid balances, greater than 0.01 BTC to external-wallet is 4%.

For buyers of hashing power, our fee is set at 3%.

 

[knightslugger]

5 minutes ago, Ryan_Vickers said:

It's 1% according to the file

well still, making ~$2/day with Claymore ETH mining vs ~$5 with Nicehash equihash with the 1070.

[vanished]

Just now, knightslugger said:

well still, making ~$2/day with Claymore ETH mining vs ~$5 with Nicehash equihash with the 1070.

>1070

There's (probably) your problem.  Did you look into the calculations I recommended at the top to see if this was profitable for you?  More importantly, did you compare it to the profitability of whatever nicehash is mining for you?

[2FA]

2 minutes ago, Ryan_Vickers said:

Nice

 

Well the fact remains, the fees for this miner are clearly stated in the readme as 1% for what I've described in the guide, or 2% for dual mining.  I friend looked up nicehash and got the following:

 

Keep in mind Ethermine also has a 1% pool fee.

[knightslugger]

10 minutes ago, Ryan_Vickers said:

>1070

There's (probably) your problem.  Did you look into the calculations I recommended at the top to see if this was profitable for you?  More importantly, did you compare it to the profitability of whatever nicehash is mining for you?

I did and i couldn't make heads or tails out of what i was mining with nicehash using the equihash algo. I think i'm just being paid in BTC for my compute power, whatever that happens to be.

[vanished]

Just now, knightslugger said:

I did and i couldn't make heads or tails out of what i was mining with nicehash using the equihash algo. I think i'm just being paid in BTC for my compute power, whatever that happens to be.

Yeah, my understanding is they will automatically make you mine whatever is most profitable at that moment, and then they pay you in bitcoin for it all.  I've also heard it's basically a money laundering engine when you run that.

[knightslugger]

Just now, Ryan_Vickers said:

Yeah, my understanding is they will automatically make you mine whatever is most profitable at that moment, and then they pay you in bitcoin for it all.  I've also heard it's basically a money laundering engine when you run that.

you can disable whatever you want and run one algo all the time. I only run equihash on the 1070 as it's the most efficient and profitable.

[vanished]

Just now, knightslugger said:

you can disable whatever you want and run one algo all the time. I only run equihash on the 1070 as it's the most efficient and profitable.

Well sounds like you know what's best for your card then, so I'd stick with that.  I made this guide with the idea of people who already know they want to mine Ethereum in mind, rather than a general purpose "what should I mine?" etc.

[vanished]

6 hours ago, mathmeister said:

Also how would I move my node files? It's filling up my SSD and I don't need to move it but I would rather have it on my HDD. Do I just cut and paste or do I change the location somewhere in Ethereum Wallet?

You'll want to close the wallet, move the folder to somewhere on your HDD, then make a symlink from where it was to the new location with mklink /D <old> <new>

[knightslugger]

39 minutes ago, Ryan_Vickers said:

Well sounds like you know what's best for your card then, so I'd stick with that.  I made this guide with the idea of people who already know they want to mine Ethereum in mind, rather than a general purpose "what should I mine?" etc.

I certainly do now. 40 something H/s on claymore vs. 420 H/s on nicehash. efficiency is just shy of 4 H/watt. 600mhz memory OC running 60% power limit. 110 Watts. GPU runs at 51C @ 50% fan speed.

 

trouble is, i have no idea what i'm mining. but! what the hell... I got paid.

[Kobathor]

So, if I'm using Etherium Wallet for my wallet, do I have to quit the app and restart it for the wallet amount to update? I got the miner working on ethermine.org, but I'm not sure when I'll see the tiny amount of Ether I'll get.

[vanished]

16 minutes ago, Kobathor said:

So, if I'm using Etherium Wallet for my wallet, do I have to quit the app and restart it for the wallet amount to update? I got the miner working on ethermine.org, but I'm not sure when I'll see the tiny amount of Ether I'll get.

No, it should update live, but only if it's got everything synced.

 

You'll see it in your wallet when you get paid by the pool, which is (at the earliest) as soon as you've earned 0.05 Ether

[Kobathor]

4 minutes ago, Ryan_Vickers said:

No, it should update live, but only if it's got everything synced.

 

You'll see it in your wallet when you get paid by the pool, which is (at the earliest) as soon as you've earned 0.05 Ether

"Unpaid balance - 0.00002 ETH"
I am so ready.

Also, the default is 1 ETH before it pays out, you have to update it on the site to be the minimum of 0.05 ETH/payout.

I like ethermine, it gives me a bunch of info with little effort. 

[vanished]

Just now, Kobathor said:

"Unpaid balance - 0.00002 ETH"
I am so ready.

Also, the default is 1 ETH before it pays out, you have to update it on the site to be the minimum of 0.05 ETH/payout.

I like ethermine, it gives me a bunch of info with little effort. 

Yes, I went over picking your payout threshold in the guide  

[Pachuca]

I'm getting this weird message: 

╔════════════════════════════════════════════════════════════════╗

║      Claymore's Dual ETH + DCR/SC/LBC/PASC GPU Miner v9.2      ║

╚════════════════════════════════════════════════════════════════╝

 

This pool (us2.ethermine.org) does not support Ethereum addresses as login (or requires worker name in "Login.Worker" format) and cannot be used for devfee mining, therefore it is not supported.

However, you can mine on this pool if you specify "-allpools 1" option, default pools (different from this pool) will be used for devfee.

Please read "Readme" file for details.This pool (us2.ethermine.org) does not support Ethereum addresses as login (or requires worker name in "Login.Worker" format) and cannot be used for devfee mining, therefore it is not supported.

However, you can mine on this pool if you specify "-allpools 1" option, default pools (different from this pool) will be used for devfee.

Please read "Readme" file for details.Pool us2.ethermine.org removed from the list

ETH: No pools specified! Specify at least one valid pool in "-epool" parameter.