How to mine

[Dreaper]

Really confused on how to mine Ethereum can someone tell me if i can do it and how i do it 

[ChackoM]

https://ethereum.stackexchange.com/questions/110/how-to-mine-ether-and-use-ethereum-on-windows

 

This is a great post to understand how to venture into ethereum mining

[Dreaper]

2 minutes ago, ChackoM said:

https://ethereum.stackexchange.com/questions/110/how-to-mine-ether-and-use-ethereum-on-windows

 

This is a great post to understand how to venture into ethereum mining

Will it do anything bad to my gpu that might affect it?

[TheRandomness]

-Thread moved to Folding@Home, BOINC, and Coin Mining.

1 minute ago, Dreaper said:

Will it do anything bad to my gpu that might affect it?

The high stress may or may not shorten its overall lifetime. Be weary though, it's not just a simple way to make money for free. Also, there's a guide in my signature on how to get it set up.

[Dreaper]

Just now, TheRandomness said:

-Thread moved to Folding@Home, BOINC, and Coin Mining.

The high stress may or may not shorten its overall lifetime. Be weary though, it's not just a simple way to make money for free.

All i have is a 1080 ti thats water cooled and if it does shorten it how much?

[TheRandomness]

Just now, Dreaper said:

All i have is a 1080 ti thats water cooled and if it does shorten it how much?

Ethereum doesn't play well with GDDR5X, I'd suggest mining zCash instead. You can try install Minergate (It's actually very well made) and run it from there, but I do not know how to set up a wallet. Depending on the thermals and voltage settings, the period of life it loses may go from a few seconds to a few months.

[Dreaper]

1 minute ago, TheRandomness said:

Ethereum doesn't play well with GDDR5X, I'd suggest mining zCash instead. You can try install Minergate (It's actually very well made) and run it from there, but I do not know how to set up a wallet. Depending on the thermals and voltage settings, the period of life it loses may go from a few seconds to a few months.

From what i know all my settings are just the default but higher clock speeds for the GPU

[TheRandomness]

Just now, Dreaper said:

From what i know all my settings are just the default but higher clock speeds for the GPU

Well, just follow the other things I stated in that post. It'd actually be a good idea to lower the voltage as much as the GPU would allow whilst still being stable.

[deadaccount69]

4 minutes ago, TheRandomness said:

Ethereum doesn't play well with GDDR5X, I'd suggest mining zCash instead. You can try install Minergate (It's actually very well made) and run it from there, but I do not know how to set up a wallet. Depending on the thermals and voltage settings, the period of life it loses may go from a few seconds to a few months.

You probably know way more about this than I do, but ethereum has a massive advantage in that you can dual mine it with lbry or a few other coins. Dual mining ethereum+lbry would make you about $300(excluding power bill) vs about $150 with straight zcash. Although minergate may be easy to use, It's really not the greatest option. You can't mine zcash on it last I checked so the best you can get is monero which is nowhere near the returns of zcash or ethereum. Its gui is also buggy, overreporting hashrates by a massive margin.

[knightslugger]

all the markets are down right now, so if all you've got is a 1080ti, you'll be mining at a rate of about $4/day (minus power expenses). Is that worth it to you to be burning a $800 GPU 24/7?

[Suika]

1 minute ago, knightslugger said:

all the markets are down right now, so if all you've got is a 1080ti, you'll be mining at a rate of about $4/day (minus power expenses).

I'm doing $8/day on both my 1080s right now, the 1080 Ti is still likely doing $5/day, if not closer to $6.

[deadaccount69]

Just now, knightslugger said:

all the markets are down right now, so if all you've got is a 1080ti, you'll be mining at a rate of about $4/day (minus power expenses). Is that worth it to you to be burning a $800 GPU 24/7?

The operative word being right now. There's a fair chance that it'll go back up again. As long as you have got safe temps and aren't overvolting there should be no problem in terms of damaging the hardware. These things are designed to run at spec 24/7. Just don't go past spec. And as I said you can get quite a bit better than $4 a day. If you dual mine you can get close to $300 which is a 2.5 month ROI. There's no way it'll burn within 2.5 months and as soon as you cross that line, it's already paid for itself(even if it does have an early demise)

[TheRandomness]

11 minutes ago, ryan27968 said:

You probably know way more about this than I do, but ethereum has a massive advantage in that you can dual mine it with lbry or a few other coins. Dual mining ethereum+lbry would make you about $300(excluding power bill) vs about $150 with straight zcash. Although minergate may be easy to use, It's really not the greatest option. You can't mine zcash on it last I checked so the best you can get is monero which is nowhere near the returns of zcash or ethereum. Its gui is also buggy, overreporting hashrates by a massive margin.

Ah alright. To be honest, you probably know way more about this than I do  I've only messed with ethereum, and really I've only just scratched the surface.

[knightslugger]

1 minute ago, ryan27968 said:

The operative word being right now. There's a fair chance that it'll go back up again. As long as you have got safe temps and aren't overvolting there should be no problem in terms of damaging the hardware. These things are designed to run at spec 24/7. Just don't go past spec. And as I said you can get quite a bit better than $4 a day. If you dual mine you can get close to $300 which is a 2.5 month ROI. There's no way it'll burn within 2.5 months and as soon as you cross that line, it's already paid for itself(even if it does have an early demise)

with so many new miners coming online (mostly 13+ y/o gamers who now see it as a way to make money) ... do you really see that coming back anytime soon?

 

I sure don't. I'm seriously hoping this is a simple FAD and will disappear. at least ETH is ASIC proof. those pricks ruined bitcoin. probably permanently. and now the gamers are ruining ETH and Zcoin.

[deadaccount69]

Just now, TheRandomness said:

Ah alright. To be honest, you probably know way more about this than I do  I've only messed with ethereum, and really I've only just scratched the surface.

Haha i've only been into it for the past week. Haven't even had my first payout yet. Oh by the way OP, if you want something quick and easy and fairly stable, Try nicehash. Basically the way it works is that instead of mining it yourself, you sell your hashing power as cloud mining and somebody else just points it to their pool etc... It's all completely transparent though so all you have to worry about is downloading an app and clicking go. It's fairly stable and pays in BTC directly. You can check my stats here if you like to see what you can expect(This is from a gtx1050 though. I would still prefer to dual mine ethereum but I don't have enough vram.) https://new.nicehash.com/miner/1JM8V8YrNHgH5qPFX7DvZ8Po39wg7vimSo

[Dreaper]

2 minutes ago, ryan27968 said:

Haha i've only been into it for the past week. Haven't even had my first payout yet. Oh by the way OP, if you want something quick and easy and fairly stable, Try nicehash. Basically the way it works is that instead of mining it yourself, you sell your hashing power as cloud mining and somebody else just points it to their pool etc... It's all completely transparent though so all you have to worry about is downloading an app and clicking go. It's fairly stable and pays in BTC directly. You can check my stats here if you like to see what you can expect(This is from a gtx1050 though. I would still prefer to dual mine ethereum but I don't have enough vram.) https://new.nicehash.com/miner/1JM8V8YrNHgH5qPFX7DvZ8Po39wg7vimSo

I get power for free so could you explain the dual mining?

[deadaccount69]

1 minute ago, knightslugger said:

with so many new miners coming online (mostly 13+ y/o gamers who now see it as a way to make money) ... do you really see that coming back anytime soon?

 

I sure don't. I'm seriously hoping this is a simple FAD and will disappear. at least ETH is ASIC proof. those pricks ruined bitcoin. probably permanently. and now the gamers are ruining ETH and Zcoin.

TBH right now you just seem to be bitter in general about mining. Mining is at the very core of cryptocurrency so it's not like a stupid selfish thing. To answer your question, the more miners come online, the more secure the network, the more people use the network, the more value the coin holds. Ethereum is a bubble that hasn't burst yet in terms of mining(like BTC and LTC have) and it's ASIC resistant so it should be a while before it does burst. I'd recommend getting a few coins in before it becomes impractical to mine altogether. It's still highly practical right now and like I said, even if it kills your gpu within 6 months, you've still made profit.

[deadaccount69]

1 minute ago, Dreaper said:

I get power for free so could you explain the dual mining?

I don't fully understand it but from what I do understand, there's two types.

 

One type is mining two different coins that use the same algorythm like Monero and Digitalnote for example. In these situations you can literally run one hashing algorithm that applies to both coins so you can verify both of them at the same time. This doesn't apply to Ethereum though which brings us to the other type:

 

Mining two different coins at the same time using different algorythms but because the algorithms are intensive to different parts of the computer, they don't really slow each other down much. For example, CPU mining Litecoin while simultaneously GPU mining bitcoin(this is a terrible idea. Don't do it. You won't make any money) In this case however, you can mine both of them with the same gpu at the same time by using Claymore's dual mining software. Basically, Ethereum is a very Vram heavy coin and not as heavy on the gpu power itself. Lbry on the other hand doesn't really utilize Vram but rather uses the gpu number crunching ability. So you can mine Eth, but while it's busy with vram lookups use the cycles to mine LBRY. It doesn't slow down ETH and although you won't be able to mine LBRY at full speed because you can only mine while eth isn't busy, it still makes it much more profitable.

[Dreaper]

1 minute ago, ryan27968 said:

I don't fully understand it but from what I do understand, there's two types.

 

One type is mining two different coins that use the same algorythm like Monero and Digitalnote for example. In these situations you can literally run one hashing algorithm that applies to both coins so you can verify both of them at the same time. This doesn't apply to Ethereum though which brings us to the other type:

 

Mining two different coins at the same time using different algorythms but because the algorithms are intensive to different parts of the computer, they don't really slow each other down much. For example, CPU mining Litecoin while simultaneously GPU mining bitcoin(this is a terrible idea. Don't do it. You won't make any money) In this case however, you can mine both of them with the same gpu at the same time by using Claymore's dual mining software. Basically, Ethereum is a very Vram heavy coin and not as heavy on the gpu power itself. Lbry on the other hand doesn't really utilize Vram but rather uses the gpu number crunching ability. So you can mine Eth, but while it's busy with vram lookups use the cycles to mine LBRY. It doesn't slow down ETH and although you won't be able to mine LBRY at full speed because you can only mine while eth isn't busy, it still makes it much more profitable.

What do you think i should do?

[deadaccount69]

Seeing as monero(and most other cryptonote based coins) isn't profitable anymore, I say dual mine ETH and something else of your choice. I'd personally do LBRY because I have a feeling it'll explode soonish(when the lbry video platform goes live) but it's not the most profitable right now. I think siacoin or decred are marginally better profit but it makes very little difference at this point. Run it for 15 minutes or so to see how it'll affect your gpu temp etc and see what our hashrates are. Then take those numbers and plug them in here to see what you can expect to mine: https://whattomine.com/merged_coins/7-eth-lbc. From there you can decide if it's worth it to you or not.

[deadaccount69]

Oh by the way here's the software you'll want: https://bitcointalk.org/index.php?topic=1433925.0

[Dreaper]

12 minutes ago, ryan27968 said:

Oh by the way here's the software you'll want: https://bitcointalk.org/index.php?topic=1433925.0

So just download it then what?

[Dreaper]

14 minutes ago, ryan27968 said:

Oh by the way here's the software you'll want: https://bitcointalk.org/index.php?topic=1433925.0

It also says that its old?

[deadaccount69]

It's a command line tool. No gui. Read through the readme and you should be able to figure it out. If not, then i'll help you out tomorrow.

[Dreaper]

Just now, ryan27968 said:

It's a command line tool. No gui. Read through the readme and you should be able to figure it out. If not, then i'll help you out tomorrow.

Which file am i supposed to download though cause it says they are all old