Cryptocurrency mining

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Re: Cryptocurrency mining

Bericht door neku » 27 sep 2018 16:53

A draft prospectus offers an inside look at Bitmain’s bitcoin mining empire

With a public listing imminent, yesterday Bitmain published a draft prospectus that provides an inside look at the company’s bitcoin mining empire. It allows interested investors to have a clear picture of how profitable the mining hardware manufacturer is and how it’s investing for growth in the future. The prospectus is 438 pages long and includes details about Bitmain’s profitability going back to the company’s inception in 2015. It also breaks down the revenues the company takes from different lines of business. The document also includes a picture of the company’s costs which is significant as it illustrates how much the firm is investing in growth and shows how unpredictable returns in such a field can be due to the volatile nature of cryptocurrency prices. According to the document, the company enjoys a 75 percent share of the global market when it comes to crypto mining equipment. The statements show how lucrative this can be. In 2015 the company had revenue of $137.3 million. A figure that saw a 328 percent growth in 2017 to reach $2.5 billion in 2017. It has something to do with the crypto boom witnessed last year. At $2.8 billion already, this year’s figures have already surpassed 2017 numbers. Profits have also grown in the past few years. From $48.6 million in 2015 to $952.6 million in 2017. 2018 has also seen profits of $952.2 million. The document also breaks down the different revenue channels that the company has with the bulk of Bitmain’s sales coming from selling mining hardware. Other streams of revenue include mining pool service and proprietary mining. Analyzing the profit numbers posted by the company something stands out; profit growth is diminishing compared to revenue. It means either the company is reinvesting the money in the business or it’s facing higher costs. The answer turns out to be a bit of both. The largest increase in expenditure is coming from manufacturing costs and cost of materials. “The costs represent our payment to our production partners for the fabrication and the packaging and testing of our ASIC chips.” One thing is clear; the company is ramping production fast given that there is a steep rise in costs from $93.7 million in 2017 to $1.5 billion in the first half of 2018. What’s your take on the numbers posted by Bitmain on its bitcoin mining empire? Share your thoughts in the comment section below.

https://cryptolinenews.com/2018/09/bitc ... ng-empire/

Bitmain plant trouwens een IPO (volgens mij zodat ze hun massa's Bitcoin Cash kunnen dumpen wat wel zeer vette resultaten zal opleveren maar dat is een andere discussie)
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Re: Cryptocurrency mining

Bericht door neku » 28 sep 2018 17:01

How to mine Ethereum, LTC, DSH, Zcash: Full Guide

Ethereum Mining Rig

How can you own Ethereum or bitcoin, one way is you can simply buy them from different exchanges or you can building an ethereum mining rig which is really fun and great source of second income. Once you set up your mining rig hardware, you can sit back and enjoy the passive income rewards. Mining rig can generate upto 300$ to 700$ per month depending on the cryptomarket trends.

For all this you should know how to built a mining rig. This Article will show you how to built a mining rig easily.
What is mining ?

It is the process in which our costly mining hardware extracts cryptocurrecy token from the blockchain network. This involves computer with GPUs running continuously solving blocks of complex hashing algorithm. Essentially mining helps to verify and validate the network transactions.
What is mining difficulty ?

If mining difficulty is low, you will get good returns and when the difficulty goes high the number of token mine will decrease means you will get less return.

Mining difficulty is directly proportional to the number of people mining the pool. If people increases tokes generated will be less.

You are thinking if this is the cases why people are investing in mining, this is because in the coming years the rate of ethereum may goes to 5000$ to 10000$ from current rate of 600$ to 900$. If thats the case its really worth investing.
Ways to Mine Ethereum

There are different ways to start mining ethereum as mention below.

-Cloud Mining servises
-Pool Mining
-Mining Alone

Cloud Mining

When you use cloud mining you are paying money to someone else to mine for you. Its simple that you are renting mining hashing power from other people and in return getting coin rewards of mining.

Now many questions are arising in your mind

-Why would someone mine for you when he can mine by himself and have all profits.
-Why don’t you have your own mining hardware to mine for your self.

You can have your own mining rig for mining but you will be responsible for all the maintenance and repair cost required for keeping mining hardware running. But in cloud mining you don’t have to worry about all these thing. It will avoid all the noise pollution at your place.
Cloud mining is a safe way to do profitable mining. But Cloud mining is less profitable than using your own mining rig.

Mining Alone

Mining Alone will gives you the maximum profit. You just turn the mining rig on and let the machine do the rest of work (making money) for you ? Really !! Is it that easy ?

No its not that easy as it seems to be, you have to compete with other people and if you will be able to solve the block of blockchain than only you get the reward. And remember you are competing with large number of people having big resources.

It has lots of drawbacks

-Noise Problem – All the fans that are placed for cooling purpose makes lots of noise. you would not have a mining rig near your bed room. Its really annoying.
-Heating Problem – If your equipment gets over heated the chances of damaging also increases. It will be really painful to get them repair
-Space Problem – The more equipment you have the more space you will need.
-Electricity Cost – All equipment will use power, more equipment more power consumption means more electricity bills.

Choosing Ethereum Mining Hardware for Rig

An ethereum mining rig has same component as of normal personal computer. But the difference is mining machine have higher versions of CPU, RAMs, SSDs etc.

Below we will discuss one by one each hardware used in making of mining rig.

Graphic Cards (GPUs)

Many GPUs are in the market, you want to select the best GPU for your budget. You should look for highest hash rate GPU with low power consumption and cost. You can start with 1 GPU to 6 or 8 GPUs as much you can afford in one rig. Or run multiple rigs as one machine.
Nvidia GeForce GTX 1070

Below are the Best GPUs :

-Nvidia GeForce GTX 1070 : An Excellent mining GPU
-AMD Radeon RX580: One of the Best for mining
-Nvidia GeForce GTX 1060: Perfect choice loaded with new powerful capabilities
-AMD Radeon RX Vega 56: A Classic Choice
-Nvidia GTX 1080 Ti: An Outstanding GPU
-Nvidia GTX 1070 Ti: The best Graphic Card Available

Power Supply

For an average CPU power supply is very low from 300-500 W. But for GPU mining you need much more power specially if you are powering up to 6 to 8 GPUs. Our aim should be 1200 W to 1600 W.
mining rig power supply

The key is to have efficient power for long term running og mining machines. Gold, Platinum rated are best in long run these are the standards for rating the efficiency of a computer’s PSU ( Power Supply Unit).

-Silverstone Tek 1500W 80 PLUS Gold
-Corsair AXi Series, 1500 Watt, 80+ Titanium Certified
-Thermaltake 1200-Watt 80 Plus Gold
-EVGA SuperNOVA 1600 T2 80+ TITANIUM

MotherBoard : CPU

Most of the motherboard of CPU can handel 1 or 2 GPUs. But we need to uses that supports 6 to 8 GPUs. You can purchase them online.

Most of the motherboard of CPU can handel 1 or 2 GPUs. But we need to uses that supports 6 to 8 GPUs. You can purchase them online.

-Intel Pentium G4400
-Intel Celeron G3930
-Asus Prime Z270-P Motherboard
-Biostar TB85 Motherboard
-Intel Celeron G3260 Processor
-ASRock ATX Z97 Anniversary Edition Motherboard

RAM

Kingston RAM will be just fine. Compatibility in various devises.
RAM for mining

RAM 4GB 1600MHz DDR3

One 4GB Module of 1600MHZ DDR3 Memory.

Kingston is the king of PC memory industry

Power Riser Cables (PCI)

PCI FOR MINING RIG

You will need riser PCI to connect motherboard with GPUs.

SSD Hard Drive

You can use 60 GB SSD or 120 GB SSD drive for installing the operating system(O.S).

Operating system : you can use 64 bit Linux or Window 10.

And run your mining software.

Other Accessories

You will need Mouse, Keyboard and a monitor to configure all the system software settings.

You can also use external fan for the GPU to prevent them from over heating.

You also need a case for putting all items together.

Pool Mining

Pool mining is the most common and easiest way to mine ethereum. It works on the principle of unity is strength means you works with other people together to mine.

Many people mine with in a single pool to solve the block and when its done the rewards will be distributed among them. Three thing to keep in mind before selecting the pool.

-Minimum Payout
-Pool Fee
-Pool Size

Tools Used for Mining

Here are the complete details of tools used for ethereum pool mining

-A Wallet to hold all your mining currency payouts
-GPU Drivers
-A Miner Application
-Mining pool address
-Graphic Card with at-least 3gb of RAM
-O.S, Operating System

Creating Ethereum Wallet

As you need wallet to store money in physical word. Likewise you need to have a digital wallet for storing your digitally mined ethereum tokens.

Installing GPU Drivers

After creating digital wallet. You need to update the software of computer. Running all the latest drivers will gives you even more profits.

Miner Application/Software Installation

Download the Claymore dual miner software from the below mention link:

https://github.com/nanopool/Claymore-Du ... s/tag/v9.6

-Now extract the software filesto a folder on dextop.
-You will fide a file name START, Now right click on the START file.
-Click EDIT and EDIT the start.txt file and insert the following lines.

setx GPU_FORCE_64BIT_PTR 0
setx GPU_MAX_HEAP_SIZE 100
setx GPU_USE_SYNC_OBJECTS 1
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_SINGLE_ALLOC_PERCENT 100
EthDcrMiner64.exe -epool <pool_address> -ewal <ethereum_wallet_address> -epsw x

Choose your pool from different recommended pools like 2MINERS, NANOPOOL, ETHERMINE & DWARFPOOL.

ethereum mining

-Enter your pool address instead of <MIning_pool_address>.
-And Enter your ethereum wallet address instead of <Your_Ethereum_Wallet_Address>.
-Now save Start.txt by selecting save as.
-Change the file name to Start.bat and save
-Now it will sayfile already exist, do you want to replace it. Click Yes.
-Double click to start.bat file to begin mining.
-Now a black screen will pop up doing mining work. Leave this screen open

That’s It……Now you can mine Ethereum easily… I Hope this article helps you……

http://cryptouniverses.com/how-to-mine-ethereum/
The aim of education is the knowledge, not of facts, but of values!

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Re: Cryptocurrency mining

Bericht door neku » 26 okt 2018 16:32

The aim of education is the knowledge, not of facts, but of values!

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Re: Cryptocurrency mining

Bericht door neku » 05 dec 2018 21:55

The aim of education is the knowledge, not of facts, but of values!

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Re: Cryptocurrency mining

Bericht door neku » 13 dec 2018 22:49

Used Graphics Cards Have Become “Dirt Cheap” As Cryptocurrency Values Plummet

Used graphics cards that have been utilised by digital currency miners have become very cheap in South Africa due to the steep drop in value that the cryptoasset market experienced throughout 2018.
Used Graphics Cards for Sale

According to a report by MyBroadband, second-hand graphics cards are now readily available for low prices as this year’s crypto bear market has hurt mining profitability.

Miners make their money when the cost of producing coins is lower than the operation of the mine itself. However, due to the steep drop in cryptocurrency prices – over 90 percent for most altcoins – over 100,000 mining operations have likely ceased operations says Autonomous Research LLP.

At the beginning of 2018, AMD graphics card had a high price tag because of their popularity among cryptocurrency miners. This made them expensive to purchase in South Africa. Now, however, AMD Radeon RX 580 graphics cards, for example, are sold cheap and the used, even cheaper. Carbonite, a classifieds forum in South Africa, is piling up with second-hand graphics cards used in mining rigs, leading to huge dips in prices.

As a result, many sellers have reduced their prices. Radeon RX 580 GPUs are now selling between R1,500-R2,000 ($105.41 – $141.08).

A Word of Caution to Buyers

The surge of used graphics cards is good for gamers looking for a good bargain. However, not so good for miners looking to recover their losses.

However, gamers need to be careful when purchasing a graphics card used in a mining cryptocurrency mining rig. Most times, mining cryptocurrencies with a graphics card will result in the manufacturer’s warranty becoming void. This means if anything goes wrong, the new owner will not be able to get it fixed for free as part of the warranty.

Moreover, graphics cards used in mining are usually more worn than those used in gaming. Hence, their performance might also no longer be that great.

https://bitcoinafrica.io/2018/12/13/use ... toHx33BiE8
The aim of education is the knowledge, not of facts, but of values!

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Re: Cryptocurrency mining

Bericht door neku » 13 dec 2018 22:58

Razer laat gebruikers cryptomunten delven in ruil voor korting

Fabrikant van pc-accessoires Razer wil gebruikers cryptomunten laten delven in ruil voor korting bij het bedrijf. De gebruikers kunnen hun computers inzetten om digitale munten te creeëren, al mogen ze die niet zelf houden.

Het project heet Softminer. Gebruikers kunnen een programma downloaden dat de hardware van hun systeem gebruikt om cryptovaluta's te delven. Het gaat om munten die lijken op ethereum-munten.

In ruil voor het delven, krijgen gebruikers Razer Silver. Dat zijn geen cryptomunten, maar punten die kunnen worden omgeruild in Razers eigen webwinkel. Zo kunnen gebruikers korting krijgen op nieuwe producten.

Het is niet duidelijk hoeveel Razer Silver-punten waard worden en hoeveel korting gebruikers ervoor kunnen krijgen.

Op Twitter reageren gebruikers verbaasd. Het delven van cryptomunten staat erom bekend veel energie te verbruiken en hardware sneller te verslijten.

https://www.nu.nl/internet/5627291/raze ... u8ChpcRRsA
The aim of education is the knowledge, not of facts, but of values!

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