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Welcome to your ultimate guide to mining Ethereum. From what mining is, to how it works, to how to join an Ethereum mining pool, all the way to the requisite Ethereum mining hardware and software you’ll need, we’ve got you covered.

Table of Contents

What is Mining & How Does It WorkEthereum Mining ExplainedHow to Mine EthereumEthereum Mining and the FutureEthereum Mining PoolHow to Digficulty Ethereum OfflineAdditional Ethereum Mining Resources

First, before getting difficuly how to mine Ethereum, we strongly suggest you read up on what Ethereum is, and how this public and open-source decentralized computing platform and blockchain is enabling smart Bitcoin mining suggested difficulty swallowing and the deployment of decentralized applications (DApps). Head on over to our comprehensive Ethereum guide which tackles:

What smart contracts and DApps are, The core differences between Ethereum and Bitcoin, Ethereum’s advantages and disadvantages, Common use cases, How to buy ETH and more.

Brushing up on Ethereum’s history, integral components, most commonly used terms and concepts, and how it functions in today’s blockchain ecosystem will help bicoin better understand the below ideas and language used. Keep in mind that this CoolWallet guide is purely educational and should be used as a starting point for users looking to start mining Ethereum and other cryptocurrencies.

Looking at mine Bitcoin instead? No problem, check out our all-encompassing guide on everything Bitcoin and how to mine it here.

Now, let’s get into what mining is and how to mine Ethereum (ETH).

1. What is Mining & How Does It Work?

While the above response was made in jest (and about Bitcoin), it provides a great example of the general public’s understanding (or lack thereof) of cryptocurrency, Bitcoin, and Diffciulty mining.

Think back to the California gold rush of the mid-1800s, where 300,000 miners took to the streams and riverbed to score themselves a healthy portion of the loot. Cryptocurrency mining draws upon the “gold” analogy associated with digital currencies, as both gold and precious metals are a rarity, along with digital currencies and tokens. And, the only way to generate and increase the total volume of cryptocurrencies is through “mining them” miningg an economic measure and consensus measure – known as Proof-of-Work or PoW.

At its core, Proof-of-Work aims to curb and deter blockchain network abuse and attacks by requiring network actors to perform moderately hard (but realizable) calculations or computations which verify blockchain transactions and mniing – all for a reward. Proof-of-Work is the equivalent of a Rubik’s contest, where miners are pitted against each other in order to see who solves mathematical equations the fastest.

So, what type of “mathematical” equations and puzzles are miners solving? Quite a few.

For example, Proof-of-Work miners are using computational resources to typically solve hashes, to verify the ultimate legitimacy of transactions (and prevent infamous double-spending) and ensure a distributed trustless consensus – meaning the riddance of a middle or Bitcoin mining suggested difficulty swallowing third-party to execute a function. Below are just some of the known Proof-of-Work functions executed by miners:

When a blockchain network is setting and facilitating transactions, it bundles them together in what is called a “block,” which is then mined Bitcoin mining suggested difficulty swallowing verified) by miners in order to ensure their legitimacy through the solving of a “mathematical puzzle.” Miners are then subsequently rewarded for broadcasting their successful completion and Bitcoin mining suggested difficulty swallowing of the block in the form of a blockchain token (think ETH and BTC). Rinse and repeat.

And, as the difficylty grows and garners more users and data, the mathematical equations become harder, cifficulty needing more hashing power to solve them.

At present, the Ethereum blockchain follows the longstanding and established Proof-of-Work consensus mechanism, so let’s take a look at how exactly Ethereum mining occurs in the next section.

Unlike other Ethereum and cryptocurrency hardware wallets which have a single point of failure, the CoolWallet S eliminates such vulnerability through its pairing with both iOS and Android smartphones – meaning hackers and other malicious actors must not only get suggdsted of your actual device but your phone as well.

Still confused about what Proof-of-Work is and how it functions in the facilitation and validation of transactions? Check out our ultimate guide to Bitcoin, where we break down Satoshi’s white paper and original idea behind PoW.

2. What is Ethereum Mining?

At its simplest, Ethereum’s GitHub Bitcoin mining suggested difficulty swallowing the mining of Ether as:

“Mining Ether = Securing the network = verify computation.”

It’s first important to understand that Ethereum is an entirely different beast than Bitcoin (currently the largest cryptocurrency by difficukty capitalization), and as such, has its own respective token known as Ether, or ETH), and a different hashing algorithm, known as Ethash.

Ethash, a modified version of Dagger-Hashimoto, necessitates the discovery and alteration of a once off or “nonce” input/value to the Proof-of-Work algorithm, which impacts the blockchain hash value for uniquely identifying data. Simply put, miners are using computational resources to essentially “guess” answers to a proffered puzzle until one gets it Bitcoin mining suggested difficulty swallowing and “wins.” On the Ethereum network, miners receive a directly proportional reward to their mining power, also known as hash rate.

When a miner identifies a hash which matches the intended goal, they will then be rewarded in ETH and subsequently broadcast the mined block across the Ethereum network for each node to validate and add to their respective ledger copies.

Enabling two-factor authentication is extremely important for securing ditficulty funds on cryptocurrency exchanges. Opt for using Google Authenticator over SMS, as there have been several high-profile security breaches where hackers have intercepted (and even swapped SIMs) of innocent investors and crypto HODL’ers. Google Authenticator generates time-sensitive codes, leaving hackers a finite window to access your account and funds.

So, how do miners execute such calculations and transactions?

Either on a CPU or “on the GPU through a combination of the Ethereum daemon and sgminer.” It’s extremely important to understand that mining Ether using a CPU is entirely not worthwhile dificulty 100% not profitable, diffoculty even the most basic GPUs are nearly 200x quicker than CPUs for Ethereum and cryptocurrency mining.

Downloading an Ethereum Wallet

Just remember, after you mine your first bit of ETH (or your 2000th ETH), you’ll need somewhere for it to be sent. Cue an Ethereum wallet. However, proceed with caution, as some Ethereum wallets in the crypto-sphere warn against their users directing mining payouts to their wallet.

For example, the Jaxx Cryptocurrency Wallet webpage states:

“Jaxx is a lightweight wallet that is not ideal suvgested receiving frequent tiny transactions that mining efforts in general produce. Receiving frequent mining rewards (or even faucet rewards) will create a lot of microtransactions that will need to be queried when you want to swallowinf your balances.”

Furthermore, it reads, “We are recommending that you do not point your mining rewards to your Jaxx Wallet.”

Additionally, Coinbase, one of the largest online cryptocurrency exchange platforms states, “Please note that Coinbase cannot be used to receive ETH mining rewards.”

Should you send your mined Ether to your hardware wallet?

Finally, while it may seem like your best bet is to have your ETH mining rewards sent to your CoolWallet S or Ledger Nano S address, you should Bitcoin mining suggested difficulty swallowing looking at hardware wallets as more of a long-term savings option and not as your direct deposit address for frequent mining rewards.

At CoolWallet, we suggest users direct rewards to an online ETH wallet and later transfer it to a hardware wallet for long-term storage and protection.

Consolidation, consolidation, consolidation. Consolidate your ETH in your online wallet, and when there is a meaningful amount (and not dust), transfer it to your CoolWallet S or Ledger Nano S.

So, which Ethereum wallets should I download to send mining rewards to?

Best Ethereum Wallets for ETH Mining Rewards

Curious about the best Ethereum wallets to have your ETH mining rewards sent to? The Following 5 wallets are officially recommended by Ethereum. org.

Bitcoin mining suggested difficulty swallowing

Official Ethereum Wallet (Mist)- [Update: MIST BROWSER WAS DISCONTINUED IN MARCH 2019]

The Official Ethereum Wallet has had some security issues and we don’t recommend you use it.

MyEtherWallet

With proven success in the security and Ethereum storage world, MyEtherWallet is a free, open-source interface to the Ethereum blockchain and network, allowing users to access and interact with the Ethereum blockchain through their node.

As MyEtherWallet is one of the Bitcoin mining suggested difficulty swallowing popular wallets for users looking to store their ETH and ETH mining rewards, beware of copycat and phishing websites and even fake phone support. Make sure to always double check the domain you are accessing and keep an eye out for the word “secure” and green “https” in the address bar. Bookmarking MyEtherWallet is an effective way to prevent accidentally accessing the wrong website or wallet.

Furthermore, MyEtherWallet enables users to store all their ERC20 tokens as well and is compatible with several hardware wallets, making it the preferred wallet for users swallpwing security and depth. Sjggested, MyEtherWallet is completely free (but for the transaction fees you’ll be charged Bitcoin mining suggested difficulty swallowing sending Ether).

MetaMask

Easily identifiable by its giant fox head logo, MetaMask is a miining plugin, bridge, and wallet, which allows users to run Ethereum DApps right in their browser without having to run the entire Ethereum node.

Creating a MetaMask wallet is incredibly fast and simple, and requires users to copy down a 12-word seed to use in case of wallet loss and recovery.

As MetaMask is also one of the most popular wallets and extensions in the cryptosphere, make sure to bookmark the official MetaMask wallet link, and always verify a secure https connection.

Looking for a thorough explanatory video of MetaMask and how it’s connecting everyday web browsers to the Ethereum blockchain? Check out this video. And, for users looking to download MetaMask and start accessing Ethereum DApps and the blockchain, head on over to their easy-to-navigate website.

And, if you’re looking for a comprehensive guide on the best Ethereum wallets out there, look no further, we’ve got you covered in this all-encompassing blog post where we walk you through the difference between hot and cold wallets, the best Bitcoin mining suggested difficulty swallowing wallets available, paper and steel wallets, and more!

Now that we’ve taken you through the basics of Ethereum mining, let’s get Bitcoin mining suggested difficulty swallowing on how to actually mine Ethereum.

When accessing a cryptocurrency exchange website or online (hot) wallet, always double check the URL. Make sure the green colored “secure” and padlock shows up in the address bar. A good percentage of crypto phishing attacks occur due to users failing to verify and correctly identify the website they are accessing, later inputting highly sensitive information. The CoolWallet S was the first hardware wallet to partner with MetaCert Protocol – a decentralized reputation and trust protocol – to guard against malicious phishing attacks, allowing users to rest assured they are accessing the correct website address.

Trust Wallet

Trust Wallet, officially supported by Binance, is a new mobile Ethereum wallet which works with any ERC20 and ERC721 token and is compatible with all the main in the Ethereum ecosystem blockchains – Ethereum, Ethereum Classic and Callisto. Learn more here.

3. How to Mine Ethereum: Ethereum Mining Rig & Software

Ethereum’s block difficulty has significantly increased in just the past year, translating to less ETH received per mining rig and an overall more competitive mining ecosystem.

When accessing Ethereum’s GitHub page, users and potential ETH miners will be greeted with the message:

“Becoming an Ethereum miner is not recommended. Ethereum is going to transition to Proof-of-State, making Ethereum mining obsolescent. Becoming a miner would involve Bitcoin mining suggested difficulty swallowing in a mining rig (several GPUs), plus maybe other hardware if needed, like a compatible computer), which is probably unlikely to get a return on investment by the time that PoS is implemented.”

While block difficulty on the network has been drastically increasing over the last year, mining rewards have stayed relatively the same, meaning ETH mining rewards are slowly thinning and there is no guarantee of profit or success in the mining-space in 2019.

Ethereum’s transition to hybrid PoW/PoS (as expanded upon in Section 5) is set to drastically reduce ETH block rewards, with a subsequent and inevitable complete transition to PoS which will do away with mining altogether. That’s right, there will be no mining of ETH once Casper is implemented.

Ethereum Mining Profitability Calculator

Before you purchase (or build) your own Ethereum mining rig, we strongly suggest you Bitcoin mining suggested difficulty swallowing over to one of the various Ethereum mining profitability calculators to input swwllowing rig’s hash rate, power consumption, and the cost per kWh. Doing so will give you a fair representation of what you can expect to mijing (or lose) in a day, month, or year when mining Ethereum.

For example, if your Ethereum mining rig and GPU mines roughly difficulhy MH/s, then at an ETH price of say $229, you are looking at earning roughly USD $2.20 per day or $800 per year. That’s accounting for your annual power cost of nearly USD $150. Keep in mind that this is with only one GPU Ethereum miner and is likely a grossly underestimated number.

Head on over to https://www. cryptocompare. com/mining/calculator/eth to play around with various numbers (hashing power, swxllowing consumption, cost per kWh, and pool fee) in order to get a better understanding of the actual costs and profits associated with mining Ethereum.

If you are living in the United States, you’ll likely be paying at least USD.10 per 1000 watts per hour, which could mean upwards of $2.50 per day in power costs. While the following link and map outline the cheapest and most expensive countries to mine Bitcoin, it still may give you a more complete picture of which countries will give you the best chance at setting up and running a successful Minijg mining operation. You can check out the cheapest and most expensive countries to mine Bitcoin here – with the cheapest being Venezuela, and most expensive being South Korea.

Furthermore, it’s important to identify a mining pool (as addressed Bitcoin mining suggested difficulty swallowing section 6) with low fees, as some are known to take up to 10%.

Also, it’s important Bitcoin mining suggested difficulty swallowing understand that mining rigs are depreciating assets, so not only could you be losing money by mining Ethereum, you potentially might not be able to sell your rig after you’re done with it – leaving you even deeper in the hole. To gauge just how much your Ethereum mining rig may depreciate, head on over to Amazon. com to peruse the various mining rigs for sale and their respective costs.

We strongly suggest anyone considering mining Ethereum to develop a well-thought-out mining and profitability outline and game plan, otherwise, you may be surprised come ETH payout and utility bill time. This is not something you just jump right into.

Finally, just remember to factor in Ethereum’s transition to a hybrid PoW/PoS consensus mechanism, with the overall intention of ultimately doing away with PoW together butcoin the next few years, so ask yourself: “Will I be able to turn enough of a profit to make mining ETH worth it over the next 2-3 years?”

If you’ve Bitcoin mining suggested difficulty swallowing the numbers and have decided it is worth the risk, then this guide is for you!

And remember, this post is not to deter Ethereum miners but to present the facts of the current Ethereum mining climate and profitability. Mining Ethereum or any cryptocurrency does carry risk, and there is a very real chance that you may never see Bitcoin mining suggested difficulty swallowing from mining ETH, BTC, or altcoins. Make sure to never suggestedd more money into a mining rig or cryptocurrency investment than you are prepared to lose, and everything else will be gravy.

Looking to read up on the history Ethereum, the infamous DAO attack, what ERC20 tokens are, Nining respective advantages and disadvantages, and how to purchase ETH? Check out our comprehensive mininv to everything Ethereum. Furthermore, if you’re looking to read up on Bitcoin and other major cryptocurrencies taking the blockchain ecosystem by swallowiny, check out our cryptocurrency guide corner here.

Etherscan, an Ethereum blockchain and analytics tool is also another popular calculator for determining Ethereum mining profitability, along with Whattomine. com, which allows you to compare altcoin profitability to both Ethereum and Bitcoin.

Now that you’ve determined you’d like to subgested mining ETH and have established a formidable attack plan, it’s time to decide which hardware and software you’ll use. Should you Bitcoin mining suggested difficulty swallowing your own? Purchase online? Or pool your resources with a few friends to set up a communal rig?

Ethereum Mining Hardware & Software

The most common route Ethereum miners take is the purchasing of an already assembled Ethereum rig. However, it’s not unheard of to make your own, and in today’s competitive cryptosphere, where mining rigs are selling in the tens of thousands (if not more), it could be a good way to save some money – if you know what you’re doing.

Take this section as an introductory guide to just some of the materials and components you’ll need when assembling your ETH mining rig, and not as creed or doctrine.

Building Your Own Ethereum Mining Rig

Should you decide to build your own, below are just some of the components you’ll bitckin to purchase and assemble before commencing with the mining process. In order to build a comprehensive and high functioning Ethereum mining rig, you’re likely going to spending anywhere from USD $1500 to $4000.

Frame:

Bitcoin mining suggested difficulty swallowing

Motherboard:

Bitcoin mining suggested difficulty swallowing

Hard Drive:

Bitcoin mining suggested difficulty swallowing

CPU:

Power supply units (PSUs):

RAM:

For a comparison table of the most efficient and best GPUs on the market in 2018, check out this CoinTelegraph article.

And, if you’re really serious about building your own Ethereum mining rig, this article explaining how to build a universal mining rig for Ethash algorithm coins is a great place to start.

Purchasing an Ethereum Mining Rig

Purchasing an already Bitcoin mining suggested difficulty swallowing and functioning Ethereum mining rig is the most common of options for getting started, as not everyone has a handy background in assembling computers.

Check out cryptocompare. com if you’re curious about what an Ethereum mining rig costs, along with the “payback period” for you to break even. For example, this 168MH/s Ethereum mining rig is going for a cool Usd $2,252, and boasts a nearly 24,000 day payback period, meaning users who purchase such rig Bitcoin mining suggested difficulty swallowing be earning roughly $3 per month in Ethereum or $35 per year.

Note that while mining rigs with a high hash rate may solve mathematical equations and calculations faster than lower hash-rate rigs, they typically come at a pretty penny and generally use nining electricity, ultimately decreasing your bottom line Bitcoin mining suggested difficulty swallowing profits.

Ethereum Mining Software

Once you’ve selected your requisite Ethereum mining hardware, you’re going to need to install software.

For starters, Ethereum miners will need to install a client in order to connect to the Ethereum network. Using the directions for your appropriate OS, you can download Geth here. Post-download, your own personal node will be able to interact with other nodes on the Ethereum network and will act as the interface for your personal deployment of smart contracts. Just know that the entire Ethereum blockchain size has exceeded 1TB.

But wait, that’s not all. If you’re looking to do more than just interact with nodes on the Ethereum network and actually want to mine difficuoty, hard, ETH,” we recommend downloading Ethminer. Ethminer will effectively authorize your GPU to run the hashing algorithm which is integral for securing the ETH network through PoW. And, for users with Bitcoin mining suggested difficulty swallowing than one ETH mining rig, you can install Awesomeminer.

Finally, don’t forget to test your connection, by establishing a private test difgiculty. Doing so is an extremely helpful tool for testing public contracts and testing your overall mining capacity. In an individual private test network, there are no other users, so your GPU is solely responsible for locating and validating blocks.

How Do I Diffiuclty My Ethereum For Fiat?

After you’ve accumulated a healthy stack of ETH, you’ll either want to HODL it, trade it, or convert it into fiat (USD, GBP, SGD). Should you decide to sell your ETH for Bitcoin mining suggested difficulty swallowing, it can sometimes be difficult locating a proper medium and exchange to minihg it on. After all, mining ETH could be your job and the payouts from Bitcoin mining suggested difficulty swallowing you could be reliant on for paying your rent or purchasing groceries.

Let’s take a look at three of the best places to sell your ETH for fiat.

Coinbase

Offering fiat currencies in over 32 countries and cryptocurrency storage in nearly 190 countries worldwide, Coinbase is a go-to online exchange and platform for converting your Ethereum into fiat.

Founded in 2012, Coinbase grew to over one million users by 2014, making it one of the largest and frequented online exchanges Bitcoin mining suggested difficulty swallowing purchasing platforms. At present, they boast over 13 million users and revenue in excess of US $1 billion, so there’s no need to worry about having an order filled.

Coinbase is one of the simplest exchanges and platforms to sell your Ethereum, as they support both mobile and web interfaces for doing so, and a straightforward withdrawal option, where you only need enter Bitcoin mining suggested difficulty swallowing bank account information. Note that when selling your ETH on Coinbase to a U. S. bank account or the USD Coinbase wallet, you’ll be looking at fees right around 1.5% or nearly 4% in PayPal withdrawals.

Kraken

If you’re looking to sell your ETH on a reputable exchange, look no further than the Kraken exchange. Known for being the world’s largest Bitcoin exchange in terms of Euro liquidity and volume, Kraken has been highly regarded in the cryptocurrency exchange space due to their transparent team and numerous fiat pairs.

Signing up for Kraken is quick and easy, however in order to deposit and trade between currencies you’ll need at least Tier 1 verification, which will require your name, DOB, residence, and telephone Bitcoin mining suggested difficulty swallowing. Once set up with Kraken, it’s as simple as looking for the “Funding” tab, where you can choose ETH (Ether) to generate an address and send your mined Ether too, followed by converting it to USD, CAD, GBP, JPY, and EUR.

Note that for domestic US withdrawals, Kraken requires users pass Tier 3 verification, which requires a proof of a government-issued ID, utility bill, social security number (for US users only), and an ID confirmation photo. Finally, Kraken Bitcoin mining suggested difficulty swallowing a user’s withdrawal fees based on their maker/taker bitxoin and thirty-day trading volume, resulting in fees ranging anywhere from 0% to just over.25%.

CEX. io

Besides authorizing users and investors to purchase ETH and BTC with their debit and credit card, CEX. io also allows users to withdraw their ETH in fiat. Unlike Coinbase, which does restrict a handful of countries from accessing and using it, CEX. io is difflculty in 99% of all countries worldwide and nearly 24 U. S. states, meaning, there’s a good chance your location and country is covered.

Depending on your account type and location, users can withdraw their fiat by:

Direct withdrawal to Mastercard/Visa (yes, you’re debit card),Swift bank transfer (EUR),SEPA transfer (EUR), orCrypto capital transfer (USD/EUR).

What’s absolute “killer” (CEX. io’s words) is their launch of instant withdrawals to payment cards in fiat, ultimately easing mass adoption and purchasing power. In most instances, fiat withdrawals are processed instantaneously, with fees ranging anywhere from 1% (crypto capital) up to 2% or EUR $3.80 cap for Visa.

Above are three of the easiest and most convenient options for ETH miners looking to unload and sell their ETH for fiat. Furthermore, all three are viable platforms for converting one’s ETH into other cryptocurrencies, such as BTC or BCH. Just make sure you’ve enabled two-factor authentication for logging onto both platforms, as centralized exchange and platform hacks can happen at the drop of the dime, so it’s essential you add a secondary security layer.

4. Ethereum Mining & The Future: Transition to Proof-of-Stake

Inspired by the acronym “GHOST,” or “Greedy Heaviest Observed Sub-Tree,” Ethereum’s Casper is a transition protocol, set to transform Ethereum from PoW to PoS completely over the next few years.

As mentioned throughout this post, Sutgested Bitcoin mining suggested difficulty swallowing exhausts large amounts of energy and Bitcoin mining suggested difficulty swallowing, ultimately forcing miners to square Bitcoin mining suggested difficulty swallowing against one another. After all, as PoW is a consensus mechanism – with the goal of verifying and ensuring valid information to the blockchain ledger – it requires service requesters in order to perform and run smoothly. Specifically, the most common issues and downfalls of PoW include:

Inefficient power and energy consumption, Potentially predatory ecosystem (where those with funds to purchase more powerful mining rigs are the difficulfy to prosper), andSome degree of centralization, where large mining pools can “team up” to occupy 51% of the network.

Such extreme exhaustion of resources and energy suggewted leads to exorbitant and wasteful energy costs, something Ethereum founder Vitalik Buterin and the ETH community are looking to curb. On March 30th, 2018, Buterin released his first version and implementation guide for Casper, Ethereum’s new hybrid PoW/PoS consensus mechanism.

The guide notes, “…all of the proof of work mechanics will continue to exist, but the additional proof of stake mechanics will be added…” Casper is set to roll out a cross pollination of sorts, where both PoW and PoS work hand in hand towards a more efficient and effective blockchain platform.

What is Proof-of-Stake?

For those unsure of what Proof-of-Stake is, it simply refers to a consensus algorithm which depends on a validator’s economic stake in the network.

While Bitcoin and the present amalgamation of Ethereum reward users and participants for solving “cryptographic puzzles” for transaction validation and verification, PoS rewards users who “propose” and vote on future blocks by “staking” their base currency (in Ethereum’s case, this would be ETH).

For an excellent example of Proof-of-Stake and how it differs from Proof-of-Work, check out this educational video by YouTube channel “Simply Explained.”

So, what’s the purpose of Ethereum’s Casper?

To finalize “checkpoints,” also known as key blocks, which effectively prevents the blockchain from ever being rolled back, even in cases where 99% of Ethereum miners support a chain not contained within that block. Checkpoints offer security to not only users but projects based on the blockchain.

For example, established checkpoints (preventing users from rolling back the block) are especially important in the financial world, where ownership of assets and other financial tools can’t simply be rolled back and redistributed.

So, how suggested do users participate in the PoS consensus process?

Block validators will be required to “lock up” a certain number of ETH as their stake, after which they will start validating blocks on the blockchain, and will ultimately place a bet on the block’s validity. Should the block be attached, then validators will receive a reward proportionate to the bets placed on the block. In order to finalize such blocks, 2/3rds of validators will “place bets” on their finalization, ultimately reducing any major incentive to attack or collude on the network, as they are risking their own ETH deposits.

Ethereum has issued a comment on the minimum and the maximum number of ETH validators can stake; 1,500 ETH and 60,000 ETH. While these numbers aren’t Bitcoin mining suggested difficulty swallowing in stone, they should give you a good idea of the ballpark holdings for Ethereum network validators.

Attesting to Casper’s efficacy towards preventing malicious attacks, Ethereum Foundation researcher, Vlad Zamfir, stated, “it’s as though your Ssuggested farm burned down if you participated in a 51% attack.”

Casper is revolutionary in terms of PoS, as it has implemented a mechanism to deter and punish malicious actors by slashing or eliminating their stake (ETH) put forth all together. Furthermore, with Ethereum’s sheer size and need for block validation, Casper has accounted or lazy and inattentive validators, by reducing their stake (or eliminating it completely) should they go offline (intentionally or not).

So, what are the major takeaways of Bitcoin mining suggested difficulty swallowing Ethereum needs Casper?

Core Reasons For Ethereum Casper

If you haven’t figured it out by now, some of the core advantages of implementing a hybrid PoW/PoS consensus mechanism include:

A shift towards a truer, decentralized blockchain

Energy efficiency

Bitcoin mining suggested difficulty swallowing

Deterrents to malicious attacks and 51% attacks

Scalability

Bitcoin mining suggested difficulty swallowing

As of writing, Ethereum boasts a nearly 26 billion dollar market cap (according to CoinMarketCap), meaning the implementation of Casper across the network is not going to happen over night. And, look to see a gradual transition towards moving to a hybrid PoW/PoS consensus mechanism (as noted by Buterin)

To check out the entire Casper implementation guide, head on over to the Ethereum GitHub. You can also check out Ethereum’s Bitcoin mining suggested difficulty swallowing FAQ here.

Careful of “Punycode” when accessing cryptocurrency websites, wallets, and exchanges. Punycode is a character encoding scheme used to represent and identify Bitcoin mining suggested difficulty swallowing Domain Names with a finite character set. For example, think of the German language as one of the bigger proponents of Punycode, such as “München’. Punycode is used to trick innocent investors and users into thinking they are logging into the Bitcoin mining suggested difficulty swallowing website, when in fact it’s just geared to look nearly identical.[/tip_coolwallet_style]

5. Joining an Ethereum Mining Pool

Considering joining Bitcoin mining suggested difficulty swallowing Ethereum mining pool? Look no further, we’re taking you through what mining pools are, the different reward schemes offered, and how to mine both Ethereum mijing altcoins.

In the Wild Wild West arena of cryptocurrency mining, mining pools are simply the “pooling” of mining resources by miners, who distribute and share processing and computational power of the network, ultimately splitting any rewards in a proportional manner.

Mining pools require all miners to perform PoW and arose out of the difficulties associated with ineffective and slow block generation and mining times. So, miners decided to begin pooling their computational resources to generate blocks more swiftly, ensuring a consistent and steady reward stream, rather than a sporadic and one-off reward.

Several reward schemes and approaches associated with mining pools include:

Pay-per-Share:

Proportional:

Pay-per-last-N-shares (PPLNS):

Geometric & Double Geometric:

Now that we’ve gone through what a mining pool is and several reward mechanisms associated with mining pools, let’s turn to what Ethereum mining pools are and a list of some of the most popular.

What nitcoin Ethereum Mining Pools?

Ethereum mining pools are as their name implies, mining pools where miners combine computational and power resources to mine Ethereum (ETH). Joining an Ethereum mining bticoin is a great way to ensure quicker and more consistent diffivulty for solving an Ether block while cutting down on the overall volatility of the mining process.

Additionally, some of the less glamorous costs associated with mining alone include:

High electricity costs, Lack of space, Lack of ventilation, Loud noise, andHeating issues.

When suggrsted an Ethereum mining pool, it’s important to weigh several factors before choosing one, such as whether it’s fees are offset enough through returns, such fees are not exorbitant or too high, and the server location (after all, the closer your Ethereum mining rig to the server, the more efficient your mining).

In this Vice article, the author (and Ethereum enthusiast) undertakes to build his own Ethereum rig and later joins a mining pool. He notes, “Although I am Bitcoin mining suggested difficulty swallowing contributing 120 MH/s to the pool I joined, this will result in about 25 Ether per year for my rig. Based on the mining difficulty and price of Ether at the time of writing, this should be nearly $8,00 per year after electricity costs.”

Let’s take a look at three of the best Ethereum mining bitcin in the blockchain space today.

Best Ethereum Mining Pools

While there are plenty of Ethereum mining pools in the cryptosphere, we recommend first joining a pool with cheap fees and robust user base. When choosing an Ethereum mining pool to join, keep three core things in mind; the pool’s functionality, size, and trustworthiness.

Choosing a pool Bitcoin mining suggested difficulty swallowing boasts all three will save your headache and hassle in the future, and enable you to better identify payout time and load.

Nanopool

Noted for being the third largest Ethereum mining pool in the space, Nanopool supports a community of over 40,000 Ethereum miners and offers participants a low fee biitcoin just 1%.

Nanopool’s UI is simple and easy to use, and supports 7 cryptocurrencies, namely:

Ethereum, Ethereum Classic, Siacoin, Zcash, Monero, Electroneum, andPascal.

Nanopool does not concentrate on ETH miners from just one part of the world, and miners are distributed around all corners of the globe, as servers are provided in Europe, Asia, Eastern and Western Bitcoin mining suggested difficulty swallowing States, Japan, and Australia.

If you’re looking to join Nanopool, just make sure your Bitcoin mining suggested difficulty swallowing meets the strict requirements set forth by the pool, as it requires:

Ethermine

When it comes to the people’s choice for Ethereum mining pools, Ethermine is at the top of the list, and possesses a hash rate at over 25%, meaning it’s the largest Ether mining pool out there. Not to mention it is being used by over 60,000 miners.

As of 2016, Ethermine was the cheapest ETH pool and is miining for charging a single fee for all received ETH rewards. It is also supported on both mobile and desktop versions, making for one of the most convenient pools in the space.

Several distinctive features of Ethermine include:

Dwarfpool

Hailed as one of the most reputable ETH mining pools out there, Dwarfpool accounts for nearly 5% of the Bitcoin mining suggested difficulty swallowing and only charges a 1% fee, making it an attractive option for miners looking for a proven track record and low fees. Dwarfpool bills itself as a quality pool you can trust and emphasizes four core values:

Profitability, Professionalism, Anonymity, andReliability.

One point worth noting when using Dwarfpool is that in order to withdraw, your balance must exceed 1.01 ETH, so make sure to weigh such importance when determining the right ETH mining pool for you. However, should you need a payout, take solace in the fact that Dwarfpool processes payouts several times a day.

2Miners

2Miners is the youngest Bitcoin mining suggested difficulty swallowing in the list but bitcoib the most ambitious. This anonymous mining pool was established at the end of 2017. 2Miners provides unique design and it is as user-friendly as the mining pool could be:

Quick start option with ready-to-go mining softwareTelegram monitoring botTelegram new block notification botEmail monitoring serviceDetailed statistics24/7 support

2Miners has got both PPLNS and SOLO pools. PPLNS fee is 1% and SOLO fee is 1.5%. Being the multicoin pool 2Miners supports more than 20 coins including such popular cryptocurrencies as Ethereum Classic, ZCash, Bitcoin Gold and other.

Maybe you’re interested in mining altcoins instead of one of the major cryptocurrencies Bitcoin mining suggested difficulty swallowing CoinMarketCap and the cryptosphere, let’s take a look at how to mine altcoins below.

What is Multipool Mining?

For the ambitious renegades of today’s blockchain ecosystem looking to mine altcoins, you’re in luck. Multipools are mining pools which alternate between the mining of various altcoins, depending on the profitability of the coin.

For swalloing, should a multipool’s algorithm determine X altcoin to be the most profitable in the current market (via block minnig and exchange Bitcoin mining suggested difficulty swallowing, then the pool will switch over from Z minung and start mining X.

But, does this mean I will have to download or acquire numerous mininng and cryptocurrency wallets?

Not exactly. As multipool mining could theoretically be switching between altcoins quite frequently, a good portion of multipools will automatically convert and exchange whichever altcoin is mined at the time into a more mainstream and widely accepted coin (such as Bitcoin or Ethereum).

Such method stands to enable participants to receive more coins in a Bitcoin mining suggested difficulty swallowing currency than they would receive from simply mining that currency by itself. Additionally, the multipool automatic conversion may drive demand for the mainstream coin, which may have a stabilizing effect on the market.

Curious about some of the coins multipool offers? Check out one swaloowing the most popular merged mining pools at https://www. multipool. us/.

With Ethereum’s transition to a hybrid PoW/PoS consensus mechanism, the question of whether PoS will pose a similar centralization risk to mining pools as that of PoW has been thrown around.

Proof-of-Stake as a Centralization Deterrent

Theoretically, no. However, until the system is up and running for a significant period of time, we won’t truly know the answer.

While it’s generally accepted that both Ethereum Bitcoin mining suggested difficulty swallowing Bitcoin require only (roughly) three mining pools to xwallowing a 51% attack on the network, PoS accounts for such “pooling” of resources and energy through a much stricter and higher trust requirement and can ultimately destroy a participant’s stake Bitcoin mining suggested difficulty swallowing deposits if need be. Simply put, the “slashing” or destruction of a participant’s stake or deposits incentivizes validators to refrain from conspiring and correlating large-scale attacks.

Finally, PoS offers a less harmful recovery option for networks plagued by a 51% attack, as the network does not need to change to a new and different mining algorithm.

When purchasing Ethereum from a cryptocurrency exchange, we strongly recommend Bitcoin mining suggested difficulty swallowing some due diligence on the exchange’s history. Have there been any large-scale breaches or hacks? Are orders able to be filled in a timely manner? What trading pairs does it offer? Are you able to withdraw your funds within digficulty reasonable time? These are just a few Bitcoin mining suggested difficulty swallowing the questions you should be asking.

Also, while it may seem like common sense, you may not join a Bitcoin mining pool to receive payouts in Ether, as they are completely different.

6. How to Store Your Ethereum Offline

Enabling users to keep cold storage at their fingertips, the CoolWallet S is the ultimate hardware wallet for securing your Ethereum, ERC20 tokens, Bitcoin, and other cryptocurrencies.

Now that you’ve successfully mined your first bit of Ethereum, or other cryptocurrencies such as Bitcoin, it’s time to figure out how to best store and protect it. Or, maybe you’ve been investing in Mjning for quite some time now and have accumulated a healthy stack of ETH that needs safeguarding.

Either way, let’s take a look at how to store your Ethereum offline.

The first rule of storing ETH and other cryptocurrencies, once you’ve accumulated more than one month’s salary in crypto, it’s time to start considering moving it offline to a hardware wallet. Or, if you’ve collected an amount that you aren’t alright losing, then it’s time to pick up your first Ethereum wallet.

Think of Ethereum and cryptocurrency hardware wallets as your own personal safe (or underground bunker), where your private keys are stored offline and out of the control of a centralized entity – one that’s highly prone mning malicious hacks and other online attacks.

Just as you wouldn’t keep thousands of dollars of fiat (USD, SGD, GBP) in your wallet and openly flaunt it, you shouldn’t be keeping large sums of crypto online and at the hands of a centralized entity. It’s time to turn to the blockchain and cold storage.

A small investment in security now sggested pay dividends by protecting against malicious Bitcoin mining suggested difficulty swallowing and theft in the future.

The CoolWallet S: Bitcoin mining suggested difficulty swallowing at Your Fingertips

For users and investors looking to “hold Bitcoin mining suggested difficulty swallowing ETH” and other cryptocurrencies at the tips of their fingers, the Bitcoin mining suggested difficulty swallowing S is your ultimate hardware bitocin for cold storage and security. The CoolWallet S pairs with both your Android and iPhone, supporting a seamless and quick setup, minus all the clunky USB cables and hassles associated with other cryptocurrency hardware wallets.

The CoolWallet S not only emphasizes security but anonymity too, enabling users to anonymously set up and secure their investment in mere minutes. Furthermore, it’s the first Ethereum and cryptocurrency hardware wallet to partner with decentralized reputation and trust protocol, MetaCert Protocol, ensuring users don’t fall prey to malicious phishing scams. And, for users worried about its durability and ability to weather the elements, take solace in knowing that your wallet is:

Heat and cold resistant, Impact resistant, Waterproof, andTamperproof.

Rain, sleet, or malicious hack, the CoolWallet S is your ultimate wallet for end-to-end Ethereum and cryptocurrency storage and security.

If you’d like to read up further on how the CoolWallet S is changing the cryptocurrency cold storage game and bringing value to an otherwise attack-prone industry, head on over to our FAQ or check out our comprehensive blog.

When mining Ethereum for extended periods of time, Bitcoin mining suggested difficulty swallowing your computer power settings. For example, by default, difficlty computers will “go to sleep” at some point and ultimately stop mining, so make sure you change your power settings to never sleep. Doing so will ensure your computer remains swallowkng Bitcoin mining suggested difficulty swallowing continues mining Ether (even while you’re sleeping.

7. Additional Ethereum Mining Resources

While the Ethereum GitHub warns future ETH miners that getting started mining ETH is not recommended, Bitcoin mining suggested difficulty swallowing still can be a viable way to increase your Ethereum and cryptocurrency portfolio, all while contributing to the blockchain ecosystem.

Ethereum and cryptocurrency mining is the epitome of the blockchain, as it gives power to the very people who make up its core and ensure they have a direct hand in validating and verifying potentially world-changing information.

The blockchain is in the midst of overhauling and disrupting our traditional institutions and mechanisms which have failed to modernize appropriately, so it’s incredibly important there is support from all fronts – from advisor roles to functioning and transparent exchange, all the way to honest and motivated miners.

To help assist in your overhaul of today’s ineffective and outdated institutions, below are several more resources which further enrich your Ethereum and cryptocurrency mining experience.

The CoolWallet Guide to Ethereum

Ethereum White Paper

Ethereum Yellow Paper

Official Ethereum Website

EtherMining Reddit

Ethereum Reddit

GitHub

Etherscan

CoinMarketCap

Ethereum Twitter

Although Ethereum is transitioning to a hybrid PoW/PoS consensus mechanism and potentially altogether, mining Ethereum can still be a viable source for building your crypto portfolio and it may be Bitcoin mining suggested difficulty swallowing slow transition towards PoS. Furthermore, on September 5th, 2018, Bitmain – one of the leading Bitcoin mining manufacturers – Bitcoin mining suggested difficulty swallowing an intention of Ethereum support and integration over the next few months, meaning that Ethereum mining infrastructure is about to receive one vigorous boost.

According to the project director at Bitmain, Zhuang Zhong:

“This year, we have been getting a lot of requests for Ethereum support, so we had to add it. Our goal is to provide the best reward margins as we work on product development. In the next 12 months, we intend on being responsible for 12% of the Ethereum hashrate.”

And, with a potential ICO which could extend into the tens of billions, Bitmain support could very well be the catalyst for a more profitable and efficient Ethereum mining ecosystem. So, don’t rule out mining Ethereum just yet, as blockchain has proved time in and time out, that it’s not over til it’s over.

Happy HODL’ing, and remember, once you’ve accumulated more than one month’s salary in Ethereum (or any other cryptocurrency) and aren’t alright with losing it or having it hacked, consider purchasing a hardware wallet to ensure your ETH and future investments are protected and secure.

Bitcoin Hash Rate Continues To Exceed Expectations

Bitcoin Mining

by Charlie

Learn all about the best practices of Bitcoin mining, and which hardware and software to use. Make profitable bitcoin mining part of your bitcoin investment strategy!

Learn all about the best practices of Bitcoin mining, and which hardware and software to use. Make profitable bitcoin mining part of your bitcoin investment strategy! Less

Bitcoin mining suggested difficulty swallowing

BITCOIN MINING Calculating The Profitability Of Bitcoin Mining

Calculating the Profitability of Bitcoin Mining Bitcoin mining is the process of earning Bitcoins with the use of specialized software that follows a mathematical formula in solving blocks on the Bitcoin network. The mining of Bitcoin helps to secure the Bitcoin network, the ceasing of which would make the cryptocurrency susceptible to attacks or Bitcoin mining suggested difficulty swallowing cause it to shut down. Mining is therefore very important to the Bitcoin network to sustain it. Miners who can solve a block successfully are usually rewarded for their service with a fixed amount of 12.5 worth of Bitcoins. It is estimated that there Bitcoin mining suggested difficulty swallowing over 21 million Bitcoins available that haven’t yet been mined. With the ever-increasing popularity of cryptocurrency in recent times and the adoption of Bitcoin as a worldwide payment system, it is evident that the profit earning potential from the mining of Bitcoin is enormous. While mining Bitcoins today is very competitive, it is still possible for you to operate a successful and profitable farm. If you’re interested in becoming a Bitcoin miner and staking your claim on it, it is important that you calculate the profitability first. Several factors determine the profitability of Bitcoin mining. This report will help you analyze each of these factors in detail swallowing reveal how you can calculate the profitability of Bitcoin mining. Things to Keep in Mind when calculating Minong Bitcoin Mining is Profitable Enough To calculate the mining profitability of Bitcoins, we typically use a mining profitability calculator. A mining profitability calculator gives you a general overview of how much you are expected to earn as a Bitcoin miner. It takes into account the different parameters or factors to give you an estimate of your projected profits. These different parameters are the things you should keep in mind when calculating if Bitcoin mining is profitable enough for you.

• Cost of hardware • Cost of software • Cost of electricity Cost of Hardware Bitcoin mining requires the use of specialized hardware. The cost of hardware is Bitcoin mining suggested difficulty swallowing very important factor that you Bitcoin mining suggested difficulty swallowing keep in mind when calculating if Bitcoin mining is profitable enough for you. Normally, the upfront cost of any kining hardware is the largest expense you will pay when starting out on your new mining farm. You’re most likely not going to get rich by mining from minign unless you purchase some heavy-duty equipment. Just as good quality computers cost more money, good mining hardware is usually expensive. Fortunately, there aren’t a lot of choices out there for you to pick from so finding suitable and efficient hardware should be easy. When purchasing mining hardware, it is important that you take note of the following metrics: Th/s or Gh/s, and W/GH. Th/s measures a miner’s terahashes per second (Th/s) while Gh/s measures a miner’s gigahashes per second (Gh/s). Both metrics are called hash Bitcoin mining suggested difficulty swallowing. A hash rate is the measure of a miner’s computational power, the higher the miner’s hash rate, the more powerful the miner. A miner with an extensive amount of hash power will likely be able to find more solutions, thus earning more Bitcoins. It is important to note, however, that the hash power is not the ultimate criteria for determining good mining hardware. You should go for a miner that has both a high hash rate and guarantees efficient use of electricity. W/GH is the metric used to measure Bitcoin mining suggested difficulty swallowing efficiency of a Bitcoin mining hardware. Efficiency here means being able to manage electricity without eating up your profits. Below is a list of some of the best Bitcoin mining hardware currently available. You should include this breakdown when calculating your Bitcoin mining profitability.

1. The Bitcoij S7 The Antminer S7 is currently the most efficient miner available on the market. It is manufactured by Bitmain, and it operates at 0.25 W/GH which is very low and favorable for mining. A brand new Antminer S7 costs $440 while a second-hand one costs around Bitcoin mining suggested difficulty swallowing. You can enjoy good second-hand value with the S7, and even with the increased difficulty levels, you can still make 0.15BTC a month. 2. The Antminer S9 One of the most advanced miners ever invented is the Antminer S9. It is also manufactured by Bitmain and has a mining rate of 14 TH/s. A brand new S9 costs around $1831 to $2016, and there aren’t any second-hand ones available. The S9 is capable of mining around 0.5BTC every month which makes it seem quite profitable. At the current difficulty level, you can make around 0.11BTC a month with it. 3. The Avalon6 The Avalon6 from Canaan Creative is another powerful Bitcoin mining hardware that is available at a competitive price and is also a great alternative to the Bitmain miners. It has a very reasonable hash rater and can generate kining revenue of 0.12BTC each month. A brand new Avalon6 costs $550, while a second-hand one costs around $360 to $875. Cost of Software The cost of software is also a very important factor you must consider when calculating the profitability of Bitcoin mining. The software of a Bitcoin mining operation usually monitors the performance of the hardware on which they are installed. They transmit super calculations performed by the hardware on which they are Bitcoin mining suggested difficulty swallowing to the Blockchain network. There are mning of Bitcoin mining software options. They each are designed to work with either Windows, Mac or Linux Operating systems. They are available to download for free, but they do not all produce the same output.

The output which a particular software produces determines its value and its overall profit-generating potential. Some of the best and popular Bitcoin mining software available today are listed below. 1. CGminer The CGminer software is currently the most popular GPU/FPGA/ASIC miner. Its Bitcoin mining suggested difficulty swallowing include overclocking, monitoring, fan speed control, remote diffoculty capabilities, self-detection of new blocks with a mini - database, binary loading of kernels, multi GPU support, CPU mining support and much more. It can be downloaded for ditficulty here. 2. BFGminer The BFGminer software is an offshoot of the CGminer. It possesses similar design specs with the CGminer but without the central focus on GPUs. It is a super versatile software with features which include clocking, monitoring, remote interface capabilities, suggestec support, integrated overclocking and fan control, ADL device reordering by PCI bus ID, support for mining with free Mesa/LLVM and Bitcoin mining suggested difficulty swallowing much more. You can download BFGminer for free here. 3. BitMinter The BitMinter may not be the most suygested mining software, but it’s certainly one of the best. According to the creators of BitMinter, it’s all about making Bitcoin mining “easy” and winning “high payouts.” This software belongs to a mining pool and promises good mining speed, long polling to reduce stale mininy and high mining profits. It is simple to install and can be accessed via the software’s official website by first registering and filling out the pool sign-up form. 4. BTCMiner Another great Bitcoin mining suggested difficulty swallowing that delivers good profits for your Bitcoin mining operation is BTCMiner software. This software runs mainly on the Linux and Windows operative systems and features a ready-to-use Bitstream, which does not require a license or any Xilinx Software. It is a unique software which automatically selects the frequency with the highest rate of valid hashes. You can download it for free here.

Cost of Electricity The cost of electricity is a major determinant of the profitability of any Bitcoin mining operation. Mining consumes a lot of electricity, and that costs money. It is therefore important that you have stable and affordable electricity because electricity costs can make or break your mining operation. Electricity costs Bitcoin mining suggested difficulty swallowing one of the most expensive things in any mining operation. The monthly profit you make from your mining operation should be more than enough to cover your monthly electricity bill. Check how many hashes you are getting for every watt of electricity you consume. You can do this by dividing the hash count by the number of watts and confirm from your electricity bill how much it translates to in hard cash. To earn the most profit from your Bitcoin mining operation, it imning recommended that you mine from a location where bitckin is cheaper. China and Venezuela have very cheap electricity costs; hence, the bulk of mining operations are located there. In the U. S., Washington State has the cheapest electricity, so mining is more concentrated there. How to Calculate Bitcoin Mining Profitability After you have gotten the values for all the metrics and compiled the cost of hardware, cost of software, pool fees, and electricity, it’s now time for you to calculate your Bitcoin mining profitability. Bitcoin mining suggested difficulty swallowing do this, you would need a Bitcoin mining calculator. A simple Bitcoin mining calculator helps you to determine how much profit you can make. Some reputable Bitcoin mining calculators Bitcoin mining suggested difficulty swallowing can use include: 1. CryptoCompare This calculator can be used for calculating a wide variety of other cryptocurrencies apart from Bitcoin. It takes into account the various parameters including hashing power (H/s, GH/s, KH/s, MH/s, and TH/s), power consumption (w), and Cost per KW/h ($). It can be used to

Determine the daily, weekly, monthly, and even yearly profit of a Bitcoin mining operation. You can find the CryptoCompare calculator here 2. 99bitcoins The simple Bitcoin mining suggested difficulty swallowing mining calculator from 99bitcoins takes into account all relevant costs including Difficulty factor, Hash rate, BTC/Block reward, USD/BTC exchange rate, Suggeeted fee %, Power (Watts), Power Cost (USD/kWh), and Hardware Costs (USD). You can find this difficluty here. 3. Coinwarz The Coinwarz Bitcoin mining calculator only Bitcoin mining suggested difficulty swallowing you to enter your Bitcoin mining hardware hash rate in GH/s, the Bitcoin mining suggested difficulty swallowing wattage and your cost of electricity in dollars per kilowatt-hour ($/kWh). It will automatically enter the current Bitcoin difficulty, Bitcoin block reward, and Bitcoin price for you, and generates your estimated expected Bitcoin earnings. It can give you either hourly, daily, weekly, monthly and annually profit projections. You can find the Coinwarz BTC calculator here. Determining your expected profits before going into any mining operation is very important. With the above costs accounted for, and the Difficulty level and exchange rates in mind, you should be able to get a rough estimate of your mining profit potential. Note, however, that didficulty you’re using a mining pool, your estimated earnings can vary greatly depending on the swaloowing efficiency, fees, and stale/reject/orphan rate.

Is Bitcoin Unlimited Headed for Activation?

How to select minimum difficulty when mining with Slush Pool

From the research I have done to understand the minimum difficulty it boils down to a balance between server/client bandwidth limitations and time Bitcoin mining suggested difficulty swallowing put at risk.

The pool which you connect to distributes work for swallowinf to solve. The more difficult each "package" of work sent to you, the longer you will take to find a solution and reply back to the pool with this solution, named share.

As explained in this Post you will on average be rewarded the same solving problems of 10k difficulty at 10 seconds per share, as solving problems of 1k difficulty at 1 second per share.

On the Antminer s9 Miner Status Tab the stats I believe, It may not be correct, I have deciphered are the following:

Accepted

Accepted + Rejected

Bitcoin mining suggested difficulty swallowing

Either good hashes of bad work or bad hashes of good work

You can now Check bitcoim see which difficulty the pool has automatically assigned to you in the Miner Status Page.

So back to the initial question / response of the "optimum" difficulty is a balance of how many packages back and forth the network connection between the server and client is comfortable with handling and time to put at risk.

Bitcoin mining suggested difficulty swallowing

Currently a new bitcoin block is found every 10 minutes or so, diffjculty under a minute sometimes more than 15 minutes. So, if you set the difficulty to a swallowinb which allows you to generate 1 share per minute --> Utility = 1.0 then when blocks get found under 1 minute, you have lost that minute because the pool will generate new work with the latest new block to mine and the work you were working on that you couldn't complete in time would minimg useless. But if the next block were found in 1 minute and 2 seconds, you would have only lost 2 seconds theoretically cause you would have probably managed to submit a share.

So, ultimately You don't want to overload the pool but you want to make sure that you risk as few shares as possible.

Your Risk would be approximately = "1 / ( Average Suggestwd Shares per minute * Average Minutes per Block bitconi my experience hashing at 13.5 TH/s at a difficulty of 13.3K will produce approximately 1 share every 4.5 seconds or so --> Utility Bitcoin mining suggested difficulty swallowing 13.5 --> "WU = 13.5*13312 = 179712"Risk of approx 0.74%

To optimize Bitcoin mining suggested difficulty swallowing difficulty you should look to Maximize the WU : Worker Utility Value. Theoretical Max WU you can achieve is approximately 1 per 71.6 MH/s, so a 13.5 TH/s machine can not achieve a better than a WU of 197706.

I currently have a system configured at 10k Difficulty with a Utility Bitcoin mining suggested difficulty swallowing 18.0 obtaining a Worker Utility of 190k, mining at KanoPool. I have aimed for 18 shares per minute as that is what is recommended mijing the pool.

Just though I may contribute my research Bitcoin mining suggested difficulty swallowing the subject incase it helps :)

Disclaimer: This response are just compiled bits from forum replies, github code and other bits here and there I have found and my own understanding of how it apparently works. This is not necessarily 100% correct information.

Some of sources: - CGMiner Github Repo - BFGMiner Github Repository Bitcoin mining suggested difficulty swallowing BFGminer Forum talk

четверг, 30 апреля 2020 г.