Mining pool ethereum reddit
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This way we indicate which program will be launched. We change it to another pool or leave NanoPool — the pool port. Used for the convenience of tracking statistics -pass x - password on the pool. Almost never used on pools. For Nano Pool we leave "x" -log 0 - responsible for logging miner events. If you set -log 1, then a log will be kept -coin ETH — specify a specific coin. In this case, the ETH pause remains - it means that if you configure something incorrectly, the miner will not close immediately, but will display an error code That's all, save it.
BAT file and run it. Mining will be launched! Also with constant intensive mining GPUs tend to depreciate so even if you wish to resale; their costs can only be partially recouped. The following guide is only for those that already have access to unused GPU and want to get in to Ethereum mining. Like for example you can use your gaming or production computer while not in use for mining to make some extra bucks. Especially if you are living in regions with low electricity prices. So using your existing hardware you can keep on mining ETH until the proof of work mining becomes obsolete.
After that you can only stake ETH. Is Ethereum mining still profitable? Those days are gone when ETHs value was in single and double digits. Clearly the winners are people who got into Ethereum back in and Both the miners and investors who took part in the ICO. About two thirds of all Ethereum in existence today was part of premine that went to early investors before mining was even possible.
Early adopters and miners who started early mining and HODLed all the way through have made the big gains. If you are getting into mining now then forget about making big gains. The peak profitability of Ethereum mining days are gone. If you think that the price will go up then you can directly invest in Ethereum rather than building a mining farm especially with the upcoming PoS model.
It is hard even to get back the return on investment and remember that there is only limited time available for mining ETH. Mining Ethereum Most Ethereum mining guides online specifies that you need to setup Mist, install Geth, download the whole Ethereum blockchain and connect your node to the network to mine Ethereum. All these things are not necessary. Hardware requirements? But what kind of GPU matters the most.
This is very important. The choice of GPU is crucial for mining. In order to mine profitably you need the right hardware that produces maximum hashrate while consuming minimum electricity. If you have latest gen RTX 30xx cards then its good.
To estimate how many Ethereum you can mine in a day we suggest you to use whattomine. Then adjust electricity costs according to your area and click calculate to find out how profitable it is to mine Ethereum. Whattomine only displays the list of profitable GPUs. So if your GPU is not on the list then we do not advise mining.
We hope you got your GPUs ready. Next is OS. But Windows is the most beginner friendly OS and most home computers operate on the Windows platform. Windows is the easiest to configure. The whole process of setting up wallet, downloading miner, configuring it and running the batch file should only take less than 10 minutes. Step 1: Set up your Ethereum wallet. For this you need to setup an Ethereum wallet.
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