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As an example, the legendary (and expensive) and is considered one of the best (if not the best) Dash ASIC miners so far.. Becoming a miner doesn’t come without reward, however There are two things which your reward is based off of.. Another option for mining is ASICs ASICs are devices made specifically for mining, and when compared to graphics cards, ASICs perform much better and have a much lower performance to the power draw ratio.. One of my favorite communities is Reddit, and although Reddit has a vast array of sub-communities, or subreddits, there are some for mining.. These cards are also excellent performers on the ETHash and EquiHash algorithms.. As a result most of us who are mining Dash will no longer be able to do that When the first batch was available, i calculate the profit for Antminer D3 and was about 8000usd/month – of course when i tried to by it it was already sold out:), few days later when i checked again was about 4500usd/month, now is 6500usd/ month – so it is going down and up an so on, the tendency is down.. If you are having problems you should definitely contact the communities I listed above, as someone else is bound to have had the same issues as you and can help you out.. The OS also supports up to 16 AMD or NVidia graphics card, which is a huge step up from Windows, which supports a maximum of 8.. When mining, overclocking is extremely useful so think of this as “free performance.. So if you do not have a large enough VRAM size on your GPU you will not be able to mine that coin.. Nice Hash also allows you to sell your hashing power for Bitcoins, so you can set your own mining rig to mine on the Nice Hash servers and earn Bitcoins.. W is the amount you will be spending on kWh every month This will then give you P which is your monthly profit.. With 8 GBs of onboard VRAM, you will not have to worry about an increasing DAG file.. Luckily I have compiled a list of sites which have this information • This is a very useful site for finding the hash rates on different graphics cards for Ethereum (ETHash), ZCash (EquiHash) and Monero (Cryptonight).. Even though this shouldn’t be a problem for a long time, it is worth noting You can check the DAG size for many popular coins on website.. The next risk, while not severe, is power Mining computers draw a lot of power, and depending on the size of the rig, they can easily draw upwards of 1,000 watts.. In other words, the lower your reward is Is a good website which has lots of information on the major cryptocurrencies, including their difficulties, block times, and block reward.. You simply choose the currency you would like to mine then input your hash rate along with the wattage of your system and power cost, then the website will show you what your profits are every day, along with the amount of the currency you will mine.. ASICs are primarily used for SHA-256 (Bitcoin) or SCRYPT (Litecoin) algorithms Another option are dedicated mining cards.. Pool mining is where you join with a group of other miners and every miner contributes to mining blocks.. This card is an excellent performer when it comes to gaming, so if you decide to sell your rig, you should be able to sell these cards for a great price.. Building a mining rig is the main cost, as these can cost thousands of dollars The next cost is power cost, though this shouldn’t be an issue unless you are using inefficient graphics cards (cards with a low hash rate and high power draw) and living in a country with high power costs.. • Cloud Mining Cloud mining is definitely the easiest way to start mining, as you can purchase a mining contract whenever you like.. The sole reason most cryptocurrencies can function is due to mining Without miners, the blockchain can’t be validated every time someone wants to make a transaction.. Another benefit of this card is that AMD allows users to flash their card’s BIOS, which can make the card run at at higher hash rates with lower power draws.. You’re only required to pay monthly for the hashing power, however these contracts can turn out to be quite unprofitable, as contracts tend to last for 24 months, and with the networks increasing difficulty you may start losing money every month.. Top 5 Graphics Cards To Buy For Mining Ready to start mining and become the next Bill Gates? In this section I will be recommending some of the best graphics cards for mining and addressing their power draw, cost, and their hash rates.. How Does Mining PoW Work? Mining works by connecting to the blockchain and verifying transactions by verifying new blocks in the blockchain.. A third useful feature is that it shows you how much you can trade your mined coins for in Bitcoin, which is useful if you think Bitcoin is only going to go up in price.. To find out how much you will spending on power each month, you can use this simple website linked below.. Both of these types of mining have a difficulty factor to them where the more miners there are on the network, the lower the chance you have of mining a block.. Another risk, though small, is that if you decide to mine on the ETHash algorithm you have to make sure you have enough VRAM (Video Random Access Memory) on the graphics card, as the networks DAG (Directed Acrylic Graph) will be stored on the VRAM.. You can use services like for the quickest cryptocurrency swaps, or you can trade on sites such as Bittrex so you don’t have to pay as high of a fee.. Here is our formula for working out monthly profit: M – W = P M is the value of the amount of coins you mine per day, this can be found through sites like coingecko where it will tell you how much your crypto is worth.. Though there are other cards which are great for mining, such as GTX 1080 Ti or RX Vega 64 (which I did not include due to their high cost), these cards on the list are just my recommendations.. Instability can often be caused by too high of an overclock, or by faulty risers.. If you’re using NVidia, ZCash and Ethereum are the most profitable It’s your choice to choose which of these two coins to mine, and I recommend mining whichever one you think has the brightest future, as what you mine today may be worth $10 now, but $100 in a few months.. The calculator will then use this information to estimate how long it will take to pay back your computer.. How To Find Mining Hashrates For Graphics Cards And Processors Now that you know how to use the profit calculators, you now need to know how to find the hash rates of your system.. What do you think about this? Sorry for my English:) • What a lot of people tend to be forgetting is that you also most likely have a value increase of the coins you mine.. Recently, Bitmainannounced the release of a new miner that is meant to become a game changer.. I’m always laughing when I see posts on bitcointalk from 2014 when people said: “Nah man, mining with my home machine costs me too much and only gets me 0,05 BTC per day (at the point in time worth few bucks now 225$) In my opinion it is all perspective and on what you plan to do with your investment.. If you are confident in the success of cryptocurrency however, and are willing to take the risk, these cards are an excellent option.. The miners put these blocks through a process by applying a mathematical formula to it, turning the numbers into a shorter, random looking sequence of numbers.. By doing this they are securing the network and preventing errors from happening such as double spending.. My Advice To Newbie Miners My single most important piece of advice to miners is to make sure you have a near 100% uptime, because if your miner shuts down while you at school, work, overnight, or while you’re on holiday you will lose out on gaining a large portion of your profits.. The Bitmain will be more reach but we will be the same poor idiots So, if i purchase a Bailak Giant+ today and get it by??? Get it hooked up and hashing, and I ordered the bitmain D3 and get it????And i get it up and Hashing at that date it arrives, How much Dash would i have Hashed by the Giant+ to the time i got the D3 whenever that would end up being roughly? Because, if the hashrate difficulty starts increasing, what will i actually be getting on the day i get to start mining? How do the two different miners compare based on these facts? As of 30 minutes ago Bailak said theyll ship a giant + in three days from payment received? Anyone gt this one figured out yet?.. With a starting price of around $150 US dollars, and a mere power draw of • #4 – NVidia GTX 1060 3GB/6GB This is another great graphics card for mining, although it pulls more power than the 1050Ti and has a steeper starting price, it pays off with its large hash rate bump.. Depending on where you live this could mean that you are mining at a loss everyday.. ” The only downside to this site is that it only has information on 11 different GPUs and no CPUs.. The difference between this and solo mining is that your payouts are more consistent.. I don’t need to ROI within 15 days because I initially did the investment with money that was not intented for something else.. Economics of Mining Getting started with mining is relatively simple, especially if you already have a desktop PC with a graphics card.. Dash difficulty is up by 4 20 times in 3 months So assuming that the shipping date for next batch will be maybe 15 October and we will get the Antminer D3 with courier lets say 1st of november so in 3 months and 1 week, if the difficulty goes up again lets say 5 times till 1st of november and given the above facts from this article – i am skeptical that we will get ROI bellow 6months.. • #3 – NVidia GTX 1070 The GTX 1070 is an amazing graphics card, where it’s only let down is it’s expensive price.. This fee gets tacked on to whichever miner “cracks” the code and completes the block.. Overview • • • • • • • • • • • • • • • • • • • • • • • Introduction If you’ve ever heard of cryptocurrencies, you’ve probably heard of mining.. Another negative is that you will not be able to sell the rigs, and will not be able to cancel the contracts.. But if it does come to the point where you can’t mine enough currency to pay back your power bill, you can always sell your rig and make most your money back that way.. You can also check if your rig is online here, as well as how much crypto you have mined.. For example, if the difficulty goes up by 100 GH/s in one month, the calculator will then assume that every following month will incur a difficulty increase of the same amount.. If you kept it today, you could sell each Ether for $330 USD, making your investment very worthwhile.. You can use the Coin Warz calculator to estimate how long it will take you to mine a block by yourself.. These cards are made specifically for miners and offer a hash rate and efficiency bump over their gaming orientated counterparts, without the need for you to do much tweaking (overclocking and undervolting).. The site also shows you the power draws for the graphics cards and will even give you the Amazon links on where to buy them, as well as suggestions for other parts you’d need to improve your mining rig.. The difference between PoW and PoS is that PoS does not require graphics cards, nor does it require a very powerful system at all.. Here you can input how many watts your computer will be using, and the website will tell you how many kWh that is per month After you calculate the amount of kWh you will be using every month, multiply the kWh per month by the amount you pay for electricity in your country, and then you will find out the cost.. Solo mining is hard, especially if you are running a small rig because you will most likely not find a block for a very long time unless you get very lucky.. When compared to NVidias offerings however, it’s a very poor performer on EquiHash.. They could easily break your rig by accident, either by throwing something at it or giving it a static shock.. But all in all, while you will receive a great amount of rewards for mining, you can also lose a lot of money if your rigs break down due to misfortune or just plain old bad luck.. Take Ethereum for example One year ago and with a small mining operation, it was very easy to mine 1 or 2 Ethers a day, while at the time it was only worth a couple of dollars.. This card also has an external power connector, so you will not be able to plug this into any old desktop computer.. There are also no block rewards in PoS, thereby making the transaction fees the only reward.. This calculator also includes the mining pool fee • Coin Warz The is another useful calculator, though more complicated than the rest, it comes with some quite unique features, such as allowing you to input your hardware cost.. The OS is extremely stable and if your rig crashes, the OS will boot up and start mining straight away.. These intermediate CoinWarz Zcash mining calculator Enter your mining rig's hash rate and the CoinWarz Zcash calculator will use the current difficulty and exchange rate to calculate how much profit and how many cryptocurrency coins you can earn.. If you start out small you can easily upgrade in the future by either adding rigs to your farm, or by adding graphics cards to your rigs.. • #2 – AMD RX 480/580 The RX 480 and 580s are extremely popular mining cards due to the fact that their price is very low, especially when compared to the similarly performing GTX 1070.. You are making a confusion here, S9 is a Bitcoin ASIC miner working with SHA-256 algo only and D3 is a X11 algorithm miner, like DASH for example.. 5 Bitcoin equal to an astounding $48,314 USD! Pros and Cons of Mining vs Investing One of the benefits in investing a couple hundred, or a thousand into a mining computer instead of into the currency you are eventually going to mine, is the fact that in the very unlikely event that the headline in the morning is “United Nations Ban All Forms Of Digital Currencies,” y ou can still sell your mining computer.. The Ethereum Stack Exchange community is another useful one where you can find out about graphics card hashrates as well as ask questions.. You can use this calculator for about 100 different coins making it quite useful when trying to find out what your other mining options are.. You do not need to setup a rig or even have an internet connection, the company which hosts the miners will do this all for you.. • Solo and Pool Mining While you will still be using your GPUs or ASICs, you have the choice to choose between mining in a pool, or by yourself, hence “solo” mining.. One of the easiest ways to secure your stability is to have safe overclocks, and by testing your rigs.. I think we can expect the same is going to happen with dash (so about 5 times in 3 Months).. • The block reward • Transaction fees For example, whenever you decide to send some Bitcoin, Ether, or whatever other currency you’re using, you’ve probably noticed the added fee, which can either be listed as a “transaction” or a “mining” fee depending on your wallet.. This list is purely based on my opinions, as well as the price of the cards and the raw performance numbers.. PoW vs PoS Though this guide is mainly focused on the Proof of Work (PoW) side of mining, you should be wary of Proof of Stake (PoS), as Ethereum will be swapping over to this method in the near future.. This leads to a problem If in one month the network receives an abnormal difficulty bump, whether due to a price increase of the currency leading other miners to join the network, or if AMD or NVidia release a new graphics card with a big hash rate boost, the MCB calculator will then use that abnormal value as the absolute value for every month, making the calculator unreliable.. Cloud mining and ASIC mining are just two examples I will also be talking about the difference between mining in pools and solo mining here.. Though it does payoff with it’s increased security Mining Communities Mining can often be a quite strenuous process that is not error free.. Each hash is unique and changing even a single character in the hash changes it completely.. Though r/EtherMining is focused on mining Ethereum, they will be happy to help you with general mining questions.. Start out small I don’t recommend starting out by buying hundreds of graphics cards and miners, especially if you have no previous experience with mining.. Another benefit of pool mining is that it’s more consistent You will get your payments consistently, unlike solo mining where it may take a very long time to get your payout.. 88% The 'g=off' setting Unlike SHA-256, scrypt is a memory-intensive algorithm, as it requires that intermediate calculations be held in memory for efficient mining.. I recommend the Ethermine org and Nanopool org pools, each have a large list of crypto-pools to choose from.. Though most mining calculators include this calculation for you, it can be very useful to find the exact amount you will be spending on power.. The Jaxx wallet also has mobile apps which allows you to take your cryptos with you anywhere.. • Choose the right graphics card for your budget and depending on the coin you want to mine.. You can check the DAG size for some popular coins using website In conclusion, while there are many risks, all can easily be avoided by either implementing standard safety procedures, or by making sure that your rig will last a long time by buying the best parts you can.. If your graphics card is not listed on the What To Mine website, this can be a tricky process.. To find your real profit however, you first need to pay back the first investment into your mining rig.. Jul 24, 2017 - And you're still 10 times better off just buying directly from manufacturer like Bitmain, Baikal etc than investing into some shady cloud-mining fuck where.. I will also explain which coins are the best to mine with each card • #5 – NVidia GTX 1050Ti This is an excellent graphics card for mining as it does not require any external power, so you can easily put it into any desktop PC with a PCI-E 16x slot.. The problem with ASICs are that they can only mine on one algorithm, so when the difficulty goes up, or the price of the coin you are mining goes down, you simply can’t swap to another algorithm, you will have to stay with that algorithm.. Though it is still useful to know that your mining income will decrease every month due to difficulty.. At the moment, Ethereum’s DAG file size is 2 1 GB meaning that you will have to mine on a card with more than 2 GBs of VRAM.. Another benefit of PoS is that the computers are not very expensive, nor do they draw lots of power, making PoS a far greener alternative to PoW.. But each to his own, good luck everyone 🙂 • Etherum difficulty has growth from 1 May until 1 July (3Months) from 338T to 1500T.. This means that it decreases your mining profit each month depending on how much the site estimates that the network’s difficulty will go up or down.. To find out how long this will take, you must use this formula: C / P = D, where C is the cost of your mining computer, P is the same as before (monthly profit), and D is the time it will take to pay back your computer, either in months, weeks or days.. If the blockchain doesn’t get validated, there is simply no way to know which transaction is legitimate and which is not.. As long as you use parts from reliable companies, and keep your rigs cool and dust free, this shouldn’t be an issue.. • Be wary of the networks increasing difficulty Even though you may make $10 one day, the next day you may make $9, so you should always be open minded about mining different coins when the time comes.. • GPU and ASIC Mining GPUs while less powerful than ASICs give you the option to choose what coin to mine, as ASICs will only allow you to mine on a single algorithm.. You should also keep your coins in an offline storage for maximum security A useful multi-wallet application which I recommend is the You can store many different types of coins here including popular ones such as Bitcoin and Ethereum.. Hash rates are the number of “hashes,” or numbers a computer can come up with every second, needed to solve a block.. So 40$ (status today = 200$ a day) in the first month after delivery Second month 30$ third month 20$ And then comes BITMAIN with their new devices like “antminer D3+” (which prototype as I suppose already exist) that will mine about 2 Times faster as D3 a we wiil get (maybe) only ROI and 5$ a day.. • It’s very easy to make a lot of money off of mining, but it’s also easy to lose everything if you don’t take the necessary precautions.. Even though currency mining seems to be an easy get rich quick scheme, it does not come without risk, the main risk being: fire.. Is another cloud mining company which unlike Genesis does not lock you into a contract and allows you to cancel any time you want, making this an excellent option.. However, this can turn out to be less profitable than mining an altcoin by yourself.. My personal rig uses 4 GTX 1070’s, so I highly recommend these cards, especially if you can get them for a good price.. Keep in mind that if you choose the 3GB variant you should know that in the future, you will not be able to mine some coins on the ETHash algorithm due to how the algorithm functions; where the DAG file is stored in the GPUs VRAM.. You can always trade your mined currency for a different coin if you believe that is a better option.. So if you are setting up your own miner, it can be useful to interact with some communities in order to get proper guidance.. This depends on what you use for the first calculation After you pay back the rig, every cent you make will go towards your total profit.. You can use this code: MRT1YF on Genesis Mining for a 3% discount on any purchase! How Should You Store Your Coins? My personal recommendation is to keep full control of your wallets and not in the exchanges since exchanges can be hacked and you run the risk of losing your coins forever.. I recommend mining the most profitable coin for you So, if you’re using AMD GPUs then Monero and Ethereum are the most profitable option for you.. Is an excellent video which explains what your computers do when its mining that uses pen and paper as an example (This method is extremely inefficient so do not expect to make a profit off of it.. Another benefit is that in case the currency you are mining drops in value, you can easily swap to another coin and regain your profits that way.. If you lose them you could take a big loss WARNING: DO NOT mine with laptops, laptops ARE NOT made to run at 100% load for prolonged periods of time.. If you want to check when the last block was mined, and who mined it, you can use website for Bitcoin, and one for Ethereum.. Other than that, the BuriedONE’s Youtube channel has many useful mining tips and tricks.. You also can’t fill in your pools fee This site is still extremely useful for finding the most profitable coin to mine, making it my preferred calculator.. Though the list is only for the Cryptonight algorithm (or Monero) hash rates, I don’t recommend mining other algorithms on your CPU, as Monero works very well on the CPU, compared to other algorithms which heavily favor the GPU.. This wallet also gives you full control of your private keys in case you want to move your wallet out of Jaxx.. However, due to the popularity of this card, it can be very hard to find at reasonable prices, but if you can find this card at a good price it’s an excellent performer for mining.. At a loss nonetheless, but it’s still better than nothing However, if you invested that amount into a currency instead, that currency will most likely be worth nothing.. However, this card is an excellent performer on the ETHash algorithm, as well as EquiHash.. Everyday new miners join the network, which in turn increases the difficulty That means that if you are solo mining, you will have a lower chance of solving the block, and if you’re pool mining, this will lead to lower rewards.. You can also find your daily profit by inputting your daily mined crypto into M and daily power usage in for W, the same can be done for weekly calculations.. Though this reward is quite minuscule, the real treat is the “block reward,” which for Bitcoin is 12.. GPUs can swap different algorithms any time they like, and can also be resold to gamers, unlike ASICs which can only be sold to fellow miners.. I also highly recommend the EthOS is an operating system specifically made for mining Ethereum and other cryptos alike, such as ZCash, Monero, and many more.. It’s also never too late to start mining New cryptocurrencies are created everyday, so in the future, if the top currency’s difficulty is too high, you can always choose a different currency.. Take your monthly power cost away from the value of the amount of the currency you mine to find your monthly profits.. PoS relies on you “staking” your coins to the network; the more coins you stake, the higher chance you get of receiving the transaction fees of other Ether investors.. The site will even show you the best exchange to sell your coins on Additionally, the site will also apply a reasonable overclock to the cards making your results even more accurate.. And you’re still 10 times better off just buying directly from manufacturer like Bitmain, Baikal etc than investing into some shady cloud-mining fuck where operative and management cost eat up all your returns.. ) Mining Profit Calculators, And How To Use Them • Crypto Compare One of the most simple to use calculators is the.. The main problem with this site is that it does not factor in the network’s difficulty.. If you decide to mine on your laptop you can damage your laptop due to overheating, potentially causing your laptop to break and to cease functioning.. However, my single most important piece of advice is to have fun, and to not panic when you have issues, setting up a mining rig and managing it can be very fun, and also very stressful when it’s not working.. Now, what if we could get our hands on a piece of equipment that hashes 15 times faster for the same price? Is this a dream?Yes it is, and it is called the Antminer D3.. Different Types of Mining Though this article has primarily been focused on graphics card mining, there are other types of mining.. This number is the blockchain’s hash Producing hashes from the data of a blockchain’s block is easy, however it is impossible to work out what the starting data was just by looking at the hash.. Such as: • • • Here you can ask the community questions about your mining setup, and about any issues you may be having.. Final Summary • There are many pros and cons of mining and investing, make sure you choose the best option for you.. If you have a relatively large mining operation with poor cooling, and you’re using bad power supplies with multiple extensions cables going into one outlet, something could catch fire very easily, making not only your rig worthless, but most likely your house too.. Although there still is the chance that the currency goes up by 100% overnight, leaving you in the dust with a mere mining rig.. • This is quite a useful list that has the information on the hash rates of many AMD and Intel CPU’s, and this list is constantly being updated.. Another unique feature is that it if you’re solo mining, it will tell you how long it may take to mine a block by using your hash rate.. However if you do decide to start cloud mining, one of the largest companies for this is.. • Other cards and ASICs (Application-Specific Integrated Circuit) If a card you own or plan on buying did not make this list, that does not mean that’s it’s a bad card by any means.. You can also ask about general Ethereum questions here Recommended Coins To Mine.. However, this card achieves amazing hash rates on the ETHash and EquiHash algorithms, and draws a mere 150 Watts.. • My Crypto Buddy The is another useful calculator which has the option to include difficulty into the calculations.. Proof of Work is where you have to run powerful computers that have high hash rates.. The is another useful multi-wallet, however it is a hardware wallet, so you will have to spend an extra portion of your budget on this.. This card is an excellent choice to use on the CryptoNight, and ETHash algorithms.. However, most of these cards do not have display connectors making them useless to gamers.. It would mean: if we get our Antminers D3 in 3Months it will be mine about 5 times less then now.. This makes the card worthless for resale, so if something happens to the cryptosphere making crypto worthless, say if some global superpower outlaws Bitcoin and other currencies alike making crypto worthless, you won’t be able to get a penny back from these dedicated cards.. This is due to its extremely low price and excellent hash rate performance Like the RX 480s and 580s, these cards can also be very hard to find at reasonable prices.. • What To Mine The is hands down, the most useful mining calculator The reason being that you simply fill in your graphics cards models and the site will calculate the power draw, hash rate, and the most profitable coin for your set up.. Follow Us On Social Media • • • • Subscribe to our We are used to the thought that X11 algos are mined with equipment which speed is measured in Megahashes per second (MH/s).. • #1 – AMD RX 470/570 The RX 470 and 570s are hands down the best graphics cards when it comes to mining.. • If you need help, don’t hesitate to ask the community • Keep your coins safe.. Another risk to watch out for is if you have young children or small animals In one example, hashrate was reduced by 5% compared to Litecoin solo mining but NiceHash penalized the miner with a delta of -25.
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