Can You Actually Make Money From Ethereum ETH Mining

If you are thinking of getting into Eather mining and start building an expensive rig then dont, soon in a few months you will not be ble to mine anymore. PoS will take over and mining will no longer be possible. PoS stands for Proof Of Stake, meaning people that hold Ether can do so called staking where they deposit their coins into a 'staking vault' and receive fees for confirming transactions on the network. That works via a consensus algorithm. My recommendation: Its too late to get into mining, instead buy Ether now with that money and you will make much more money. The required amount for staking is RUMORED to be 1500. But if you allready have a few AMD cards laying around, then you can at least mine some Ether for now.but dont og out buy expensive equipment now.

If you are keen to know how to make money with Ethereum. The Ethereum Founder’s view on the ETH mining community can be described as. What Is Ethereum and.

The party is already over and the only way to make money with Ether is to buy ether as an Investment and hold on to it for future gains in price. Good Luck Servercookie. I am seriously not trying to troll anyone, just informing people if the coming change. The majority of the suggestions here are pretty vauge and cryptic, and no one is giving anyone a clear answer. The simple fact is that mining will stop soon and then you will sitt there With a lot of shinny Cards you have to mine something else With.

If you can find a profitable alt coin that is. I was seriously thinking of getting into mining myself. But buying equipment for 5k and only being able to mine for a few more months is not such a great Investment idea. Not if you want a ROI I have read the blog, and the conclusion is fairly simple. We are now in PoW and are able to mine, once PoC starts then mining will stop.simple as that really. For those who have allready bought Equipment then mine as its the last day on Earth and hope you recoup the Investment. OP Is trolling but does make a point or two.

At the rate people are moving to mining it will surely be destroyed in a month or two. I have yet to see anything come out of ether beside sergei's ethereum doubler (fraud ponzi russian scam) and augur, which is nothing special anyway and could have been implented with other crypto currencies. When it does go to POS what will the network be doing besides facilitating ether transfers and students trying to start their own coin?? Problem with BTC >>chinese took over with asic and 1cent power and BTC diff grew 10x the rate of BTC price. Result = dead network with bad price point. Problem with Ether >>1.2 million miners wanting another bitcoin when it isn't going to be that, too many miners, too fast growth with no application or useful purpose relative to cost How am i trolling, are you seriously thinking you will be mining once PoC comes out.

I would love to see you doing any ether mining at that point. Feel free to prove me wrong, just read the eutherum blog. Problem with Ether >>1.2 million miners wanting another bitcoin when it isn't going to be that, too many miners, too fast growth with no application or useful purpose relative to cost Right, while I believe in Ethereum in the long run, but it should be pretty obvious the price is buoyed by pure speculation at this point. Not to say this is uncommon in crypto, it's just Ether is not backed by anything sustainable right now. Despite this, the mining profits right now are insane.

We can all enjoy that for the time being. Yes, mining 'right now' is great which is why we're seeing an explosion of farms. If anyone cares to calculate how much some people have made of Ether's 3000% increase in the past 3 months and what this means, then it's kinda obvious how much capital the wiser early adopters have to sink into this. Further consider that Ethereums market cap ATM is just a shard under $1b from an origional $19m crowd fund. People still have that money to spend, and obviously some are spending it on huge GPU farms. Because of this, mining profits in a months time will probably crash out with the diff explosion.

It really has nothing to do with POS. POS and POW will both be running in Serenity up until Metropolis which I believe intends only to run POS. OP is not trolling, just inexperienced and not fully aware of the more likely factors that threaten our POW returns. Yes, mining 'right now' is great which is why we're seeing an explosion of farms.

If anyone cares to calculate how much some people have made of Ether's 3000% increase in the past 3 months and what this means, then it's kinda obvious how much capital the wiser early adopters have to sink into this. Further consider that Ethereums market cap ATM is just a shard under $1b from an origional $19m crowd fund. People still have that money to spend, and obviously some are spending it on huge GPU farms. Because of this, mining profits in a months time will probably crash out with the diff explosion.

It really has nothing to do with POS. POS and POW will both be running in Serenity up until Metropolis which I believe intends only to run POS. OP is not trolling, just inexperienced and not fully aware of the more likely factors that threaten our POW returns some people like to buy and sell, some like to 'mine' as well. From the initial investors perspective, if you are selling out of eth, what will you buy? I bought eth directly when it was inexpensive (up to 0.008 BTC/eth), but now I want to mine instead of buying because mining insulates you against price volatility somewhat.

I have spent whatever i can spend and or have electricity/AC for during spring. Maybe one or two more cards and that's it. Total of three rigs with up to ~220mh/s in immediate future and total of ~260-270mh/s final. Will mine whatever i will mine, then hold. Will not convert back to fiat, or at least not for a while. Maybe will sell some to self driving cars with AI later on. Right now is still NOT a bad time to start mining ETH simply because the GPUs are in stock and still cheap.

So going out and maxing out your credit card at Newegg doesn't seem like a big risk like it did 2 years ago. The reason why alot of people got BURNT with Litecoin GPU mining is because when the 280X came out it cost like $299 USD, and then it was out of stock and prices jumped to $450 USD and people kept buying them while the price of BTC and LTC kept falling and difficulty rising. With ETH you can get the R7 370 which is like $100 USD and worse case you sell it second hand for like $70 USD in 6-12 months. Yes, mining 'right now' is great which is why we're seeing an explosion of farms.

If anyone cares to calculate how much some people have made of Ether's 3000% increase in the past 3 months and what this means, then it's kinda obvious how much capital the wiser early adopters have to sink into this. Further consider that Ethereums market cap ATM is just a shard under $1b from an origional $19m crowd fund. People still have that money to spend, and obviously some are spending it on huge GPU farms.

Because of this, mining profits in a months time will probably crash out with the diff explosion. It really has nothing to do with POS. POS and POW will both be running in Serenity up until Metropolis which I believe intends only to run POS. OP is not trolling, just inexperienced and not fully aware of the more likely factors that threaten our POW returns some people like to buy and sell, some like to 'mine' as well. From the initial investors perspective, if you are selling out of eth, what will you buy?

I bought eth directly when it was inexpensive (up to 0.008 BTC/eth), but now I want to mine instead of buying because mining insulates you against price volatility somewhat. I have spent whatever i can spend and or have electricity/AC for during spring. Maybe one or two more cards and that's it. Total of three rigs with up to ~220mh/s in immediate future and total of ~260-270mh/s final.

Will mine whatever i will mine, then hold. Will not convert back to fiat, or at least not for a while. Maybe will sell some to self driving cars with AI later on. Yes, mining 'right now' is great which is why we're seeing an explosion of farms. If anyone cares to calculate how much some people have made of Ether's 3000% increase in the past 3 months and what this means, then it's kinda obvious how much capital the wiser early adopters have to sink into this. Further consider that Ethereums market cap ATM is just a shard under $1b from an origional $19m crowd fund. People still have that money to spend, and obviously some are spending it on huge GPU farms.

Because of this, mining profits in a months time will probably crash out with the diff explosion. It really has nothing to do with POS. POS and POW will both be running in Serenity up until Metropolis which I believe intends only to run POS. OP is not trolling, just inexperienced and not fully aware of the more likely factors that threaten our POW returns some people like to buy and sell, some like to 'mine' as well. From the initial investors perspective, if you are selling out of eth, what will you buy? I bought eth directly when it was inexpensive (up to 0.008 BTC/eth), but now I want to mine instead of buying because mining insulates you against price volatility somewhat. I have spent whatever i can spend and or have electricity/AC for during spring.

Maybe one or two more cards and that's it. Total of three rigs with up to ~220mh/s in immediate future and total of ~260-270mh/s final. Will mine whatever i will mine, then hold. Will not convert back to fiat, or at least not for a while.

Maybe will sell some to self driving cars with AI later on. Yes, mining 'right now' is great which is why we're seeing an explosion of farms. If anyone cares to calculate how much some people have made of Ether's 3000% increase in the past 3 months and what this means, then it's kinda obvious how much capital the wiser early adopters have to sink into this.

Further consider that Ethereums market cap ATM is just a shard under $1b from an origional $19m crowd fund. People still have that money to spend, and obviously some are spending it on huge GPU farms. Because of this, mining profits in a months time will probably crash out with the diff explosion. It really has nothing to do with POS.

POS and POW will both be running in Serenity up until Metropolis which I believe intends only to run POS. OP is not trolling, just inexperienced and not fully aware of the more likely factors that threaten our POW returns some people like to buy and sell, some like to 'mine' as well. From the initial investors perspective, if you are selling out of eth, what will you buy? I bought eth directly when it was inexpensive (up to 0.008 BTC/eth), but now I want to mine instead of buying because mining insulates you against price volatility somewhat.

Litecoin LTC Mining Profitability on this page. I have spent whatever i can spend and or have electricity/AC for during spring. Maybe one or two more cards and that's it.

Total of three rigs with up to ~220mh/s in immediate future and total of ~260-270mh/s final. Will mine whatever i will mine, then hold. Will not convert back to fiat, or at least not for a while.

Maybe will sell some to self driving cars with AI later on. Some people like to buy and sell, some like to 'mine' as well. From the initial investors perspective, if you are selling out of eth, what will you buy?

I bought eth directly when it was inexpensive (up to 0.008 BTC/eth), but now I want to mine instead of buying because mining insulates you against price volatility somewhat. I have spent whatever i can spend and or have electricity/AC for during spring. Maybe one or two more cards and that's it.

Total of three rigs with up to ~220mh/s in immediate future and total of ~260-270mh/s final. Will mine whatever i will mine, then hold. Will not convert back to fiat, or at least not for a while. Maybe will sell some to self driving cars with AI later on I had a few hundred mined eth which I had to sell off at 90c to pay electricity and a BTC loan. It wasn't pretty. But I'll be damned if I sell any more now.

I'm buying rigs with with mortgage redraw, effectively borrowing from my house with my eth holdings as security. Well, there's no doubt you're committed I, too, see great value in Ethereum, but the question is how long will it take for that to manifest, and how long will investors' patience hold out. As we agreed in an earlier exchange, Ethereum wall take a lot longer to be fully baked than anyone can imagine, at this point. One point on which I'm not quite with you is this ETH/BTC inversion scenario. I personally don't see ETH and BTC as competitors, but rather complimentary.

BTC is a store of value, the ultimate number of BTC that will be available is already now; it has no potential for inflation. ETH will inflate, but it's core value is not as a currency, but as a smart transaction platform. ETH is, essentially, the stock of Ethereum.

Ethereum is already working hard to develop a bridge between the BTC blockchain and the ETH blockchain to facilitate smart contracts with BTC as one of the base contract currencies. So, although I see great potential for further grow in ETH as a stock proxy, I don't really see it displacing BTC, and even if it were to do that, certainly not in the timeframe you've proposed. Obviously, though, no one knows how this very interesting game will play out. -Best Care David. The question regarding Bitcoin is, 'what gives it value?' It has scarcity based speculative value. It has utilitarian value for the problems it solves by being a geo-politically agnostic currency and it can be traded for goods and services.

However, it's value is not related to any physical fundamentals, not even the energy wasted to keep it going. It was always an experiment, a prototype and so the truest value of Bitcoin is what has been learnt in order to give rise to something like Ethereum. And that is a qualitative value rather than quantitative. In the longer term, through IoT in particular, Ethereum will have physically tangible interaction with mainstream society, as common place and commonly used as are mobile apps now. That is a real social capital. What will Bitcoin have?

I also don't understand why people say eth is not intended as a currency. It is both a currency and a commodity, and if you don't own any then you can't interact with those real world Etherum conveniences.

I've covered this territory on 'value' in a There is nothing in Bitcoin where I can't see Ethereum doing a better job except for perhaps Bitcoin's deflationary economic philosophy. That's why I'm BTC pessimistic, it's being superseded. I'm not saying it will disappear but who will want it, who will want to mine it and who will want to maintain it? After a few more days thinking, I'll concede that saying there will be a inversion of the ETH/BTC pair in the short term was a bit preemptive. I was thinking that because BTC is the primary purchasing currency for ETH, that BTC holdings would be sold down to buy ETH. What I didn't consider is BTC's roll as the cross currency from fiat to Eth, IOW the demand for BTC remains as it's currently the simplest way to purchase ETH.

That all changes once ETH/fiat exchanges are established, again driving down the demand for BTC. Some people like to buy and sell, some like to 'mine' as well. From the initial investors perspective, if you are selling out of eth, what will you buy? I bought eth directly when it was inexpensive (up to 0.008 BTC/eth), but now I want to mine instead of buying because mining insulates you against price volatility somewhat. I have spent whatever i can spend and or have electricity/AC for during spring. Maybe one or two more cards and that's it. Total of three rigs with up to ~220mh/s in immediate future and total of ~260-270mh/s final.

Will mine whatever i will mine, then hold. Will not convert back to fiat, or at least not for a while. Maybe will sell some to self driving cars with AI later on I had a few hundred mined eth which I had to sell off at 90c to pay electricity and a BTC loan. It wasn't pretty. But I'll be damned if I sell any more now.

I'm buying rigs with with mortgage redraw, effectively borrowing from my house with my eth holdings as security. When I hear stuff like this people selling their homes orcretirement to buy miners it tells me things are out of hand What if the price tanks back to 2 or 3 then what will you do? It's the Wild Wild West of crypto nothing is promised I understand investing in mining it's really too late to buy large amounts of eth at current prices, like Someone said mining at least insulates you from price fluctuations since you can always sell your hardware But buying can work well too I made 3 btc playing the market this weekend sold a bunch at 15 Then bought back on the huge dump at 12 It's so easy to do this if I had 10k fiat available I could make 300 a day just following the whales. I'm buying rigs with with mortgage redraw, effectively borrowing from my house with my eth holdings as security. When I hear stuff like this people selling their homes orcretirement to buy miners it tells me things are out of hand Perhaps I made a bit too dramatic a statement. What I've done is redraw a few $1000 from advanced payments on my house, to pay for mining gear instead of funding it from my current ethereum holdings.

The holdings though humble compared to many other early adopters, are still in excess of what I've redrawn. My first rig was funded with a BTCJam loan because Ethereum was still so conceptual and I didn't want to mess with things on the home front. Now there's a whole lot more confidence in the platform.

• • • • • How much can you make mining Ethereum? This concerning question is stuck in many peoples mind. And they have asked me a number of times to provide them with the answer. So, in this article, I’ve decided to answer to one of the very basic and the first question beginners have. And that is, how much can you make mining Ethereum? Mining Ethereum is not a task which involves setting up a mining rig and then waiting for Ether to flow in.

If you’re thinking you’ll just set up a mining rig and you’ll turn rich. Then let me tell you that you’re totally wrong.

Setting up an Ethereum mining rig requires the right information about the world of Ethereum mining. Without having the knowledge of the basics and some advanced concepts, you’re likely to end up in the wrong mining rig. So, without wasting any time, let’s first start with the basics. What is Ethereum? Ethereum is a decentralized blockchain based platform featuring smart contracts.

With the help of Ethereum, you can create any software or any application. You can also create or build your own startup or a company from scratch.

You also have the freedom to invest in your own projects, and if you do not have the required money to invest, you can complete your projects through writing smart contracts. The above sentence might confuse you a little, but this is what Ethereum is all about.

There is a lot more to explain, but I’ll rather focus on explaining only the important things. What is Ether? Ether is the token name of Ethereum. Every cryptocurrency has its own token name. And the token name is the name of the cryptocurrency. In the case of Ethereum, Ether is the token name. With the help of Ether, you can carry out smart contracts in Ethereum.

Or, you can also buy, sell, trade and invest using Ether for profits. What is Ethereum mining? Ethereum mining is the process of solving complex math-associated problems. When you set up a mining rig, you basically are spending your resources to solve these math problems. These math problems are dispensed by an organization or a single person. Upon completion and fixing of the math problem, you are awarded a block of Ether, Generally known as proof of work. Ethereum Mining concepts What is Hash rate?

A mathematical problem which the miner needs to solve is considered as a hash. The speed or the rate at which the miner solves the mathematical problems is called a hash rate. The higher the hash rate, the faster and more mathematical problems the miner will be able to solve. If you solve more mathematical problems you’ll get more Ethereum.

What is mining difficulty? This is an estimation of how tough it is to solve a mathematical problem. As more miners join the network, the hash rate increases, and as the hash rate increases, more difficult it becomes to solve a mathematical problem. The Ethereum chain provides a uniform quantity of Ether coins every several minutes.

So, if the difficulty increases, the chances of making more Ether decreases. Cost of running a mining rig? Cost of running a mining rig is nothing but the cost of the Electricity. When you create or build a mining rig, you use very powerful resources to run and compute the mathematical problems. To support the consistent working and solving of the high resourced mining rigs you’ll require a high amount of electricity. The amount you spend on the electricity should be calculated for your returns. If the power consumption is more and the electricity bill is high, and if the mining difficulty is also high.

You’ll just end up paying electricity bills and you’re less likely to make any profits form Ethereum mining. In easy terms, Mining is beneficial if the difficulty level is low and the mining rig’s hash rate is high.

How much can you make mining Ethereum Let’s consider a few example of Ethereum mining rigs. Radeon R9 295X2 This mining rig costs around $600 which provide 46.0 MH/s of hash rate. The power cost it requires per day is set to around $1.45 with a return per day of $1.61 with cost per MH/s of $13.04. Which when calculated will give you a profit of somewhere around $590 per year 2. Radeon R9 HD 7990 This mining rig costs around $680 which provide 36 MH/s of hash rate.

The power cost it requires per day is set to around $1.08 with a return per day of $1.29 with cost per MH/s of $18.89. Which when calculated will give you a profit of somewhere around $469.40 per year.

Geass ASIC Miner Let’s consider you have a mining rig which has powerful resources. This mining rig costs around $2289 which provide 200 MH/s of hash rate.

The power watt it requires is somewhere around 800. With medium to average mining difficulty, using this miner you’ll be able to make. • 0.050 ETH per day, valued at $15. • 1.497 ETH per month, valued at $451. • 18.215 ETH per year, valued at $5,489. Note: The above calculations are made based on Medium to average mining difficulty.

The mining difficulty increases frequently. So, the amount of ETH earned can be less compared to the data I’ve provided above. Important note: Ethereum is planning to switch from a proof-of-work to a proof-of-stake this year. Which will stop Ethereum mining. It is best considered to mine ETC other than mining ETH. Because ETH will move to a proof-of-stake and will stop all mining activities yet, as ETC is a part of Ethereum you will be able to mine ETC.

Conclusion I’ve made sure to explain the concepts needed for you to understand the question how much can you make mining Ethereum. You can decide if you want to mine Ethereum not. And if you do, make sure to do a little specification check of the miner to see how much hash rate it provides and how much returns you will get. Also keep in mind that ETH is moving towards proof of stack, meaning anytime soon ETH mining will be stopped and all the hash rate will be moved to ETC. I hope the doubt you had about how much can you make mining Ethereum is now cleared.

If you want to know more about anything on Ethereum, then do let me know. Helpful links you might want to read: •. Share with your friends.