Ethereum ETH Gold Mining Machine

A miner is an investor that devotes time, computer space and energy to sorting through blocks. When the mining process hits the right harsh, they will submit their solutions to the issuer. After verification, the issuer of the currency offers rewards which are portions of the transactions they helped in verifying. They also offer digital coins in exchange for the work of miners.

The result of digital mining is called proof of work system. Some currencies depend on this system alone while other use a combination of proof of stake and proof of work. Each block must have the proof of work of the given difficulty if it is to validated in consensus. The algorithm for validation is called Esthash. It has to do with identifying the nonce input to the result in such a way that it will be below a threshold that is determined by the difficulty. If the outputs are uniform in distribution, then the fact that the time required to find a nonce depends on the difficulty is guaranteed. In this case, simply manipulating the difficulty will allow a miner control how much time is required to find a new block.

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Currently, uses the Proof of work (PoW) system- this has been the arm supporting blockchain technologies like bitcoin and Ethereum. Proof-of-work refers to the solving of complex equations, which is a basic requirement for a miner to clear for their block to be added to the blockchain.

This system has been picked apart for the environmental damage and electric cost it generates. However, through the use of the Dagger Hashimoto algorithm, Ethereum created a way that permits simple home computers to mine efficiently with little expenditure necessary.

I was thinking to buy 10 machines with 60x AMD RX 480 Total price will be around 19K Euro. And it will take 1200-1300W and for me it cost €0.167 Kw and I think you will get around 175+- Hashrate each machine. When I look at the network hashrate chart its not profitable anymore. Everymonth the Network hashrate will grow around 20%. Early 2017 PoS will be released. And I need to get atleast all my investments back. I think its a better Idea juts to buy right now for 20K Ethereum and lets see what the Future will bring.

Mining is a long time investment, high-risk of corse. ^^ According to network hashrate and difficulty stats: March to April - +64,3% diff, +97,5% hashrate April to May - +45,2% diff +41,8% hashrate May to June - +21,8% diff, +23,3% hashrate If we assume further diff/hashrate growth of +20% per month - you should ROI in fiat after 4 months at current ETH and BTC price. Then you can mine until it will be not profitable and sell your eq or wait for another coin. Probably there will be another coin, as always. If I would buy something other than new rigs - I will go BTC instead of ETH. But the BTC halving is a month away; the block award gets cut by%50.

4 weeks, 2 days, 16 hours, 20 minutes to be exact. Yes and if the currency does not double in value against fiat, people will shut down their mines rather than run at a loss and the network will shrink. Remember how full those blocks are. People will have to increase the transaction fee to at least 0.8mBTC./kb, (still cheaper than what you pay at the exchange, still cheaper than paypal) to get quick conformations. Remember, when bitcoin mining is over, miners will have to survive on just the transaction fee.

The value has to go up. 2/3 of the network is Chinese and the Yuan is depreciating.

The government are buying gold and the people are buying bitcoin and litecoin. The US fed refuse to put up interest rates so the dollar will weaken against gold so they will not buy US treasuary bonds. Remember, the Chinese are the second biggest economy and the worlds biggest potential market.

Biggest SmartCash SMART Mining Rig. The Party recently stated that they were going to focus on their domestic market as their foreign market (us) are just too small. They want to focus on A.I. And more automation before they build more trade with us. So they have gone protectionist and China needs Bitcoin. There are no 'miners' in PoS, there are 'validators', and there are only going to be a small number - 250 if memory serves me, although I suppose that number could change by the time they implement it. There's a variable block award that theoretically maxes out at 10%, but I'm not sure what it's 10% of, to be honest.

Perhaps it's 10% of what you 'bet' on the block to validate it. The validators get the reward plus the transaction fees. There is talk of pools forming, where the pool is a validator. If you read the Ethereum Blog authored by VB not too long after the Homestead hard fork, there's more details there. Yes i know, so you need a big stake (like 6 fingers plus of USD) that you are not using (and don't mind losing) and. A server grid. It would suit a large bank or card provider.

A Google like company. If you are one of the 250 validators your not gonna think grid, you gonna cluster somewhere with low labour rates but a tech savvy population. I think China will be a preoccupied with Bitcoin.

That puts India in the frame as a host. India has cheaper electric than China anyway. But it means centralisation. I'm not seeing this pan out too well. So will it be worth running a node even?

What are we all gonna do with this glut of redundant GPU power? Maybe you can sell some CPU power or storage space to the ethereum network for some eth but who will want the GPU power. It may be worth selling my rig now! People are still talking of setting up mining rigs. Look at ebay for plug'n'play ethereum rigs, they are there. Ok, i have ROI but once your into less than 50% return (and falling) it all starts getting arduous.

Especialy with the end of mining looming. Like the man said 'Maybe time to stop investing in Mining machines' At current eth prices anyhow. And with Bitcoin stealing the lime light. Intersting times! Yer, all this fuss cos bitcoin reward goes down 50% in 4weeks. (it was designed to be deflationary) And remember, ethereum reward goes down by 100% in 4 months. (PoS) then a dash to dash i think?

Why don't we have a fork and start a miners coin? I know no one can see the future but there is another big sub prime bubble about to happen in motor vehicle finance sector. Will the banks that are over leveraged be bailed out again? Exciting times for crypto. CArs are diffrent frm houses they can always repo and re sell.

At current eth prices anyhow. And with Bitcoin stealing the lime light. Intersting times! I've been out of Bitcoin for so long I don't even really know the state of things, but. Spondoolies gone. KnCMiner gone.

Only Bitmain and Bitfury left with 16nm fabs AFAIK. And Bitfury doesn't sell hash unless you want to buy a whole shipping container of it. Did anyone actually ROI on S7's so they could afford to roll over to S9's? Coz they're worth crap now. At least the S9's have got another couple of years to ROI on relative Diff drop.

So what's left? Dangerously centralised mining with unknown amounts of private hash. There is not much information about PoS. But Vitalik Buterin announced that they will release PoS Early 2017. I wanted like everyone else to get some ligit extra money.

My intention is to stop working about 8 years. Cauz I am tired of working. I am now 30 years old and if you live in The Netherlands so I should work untill I am 75 before I can retire. What the F**** do I need to do at that age.

Anyway I will put some time to learn exactly how PoS works and looking for Alternative coins or something else. You only live once.