How To Mine Ethereum?steemCreated with Sketch.

in #ethereum6 years ago (edited)

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So I watched a very interesting video from a very well known fellow steemian @jerrybanfield about how to mine Ethereum. This is something I have been thinking of but never really took action to research and so on.
 

So after coming across this video it got me thinking that maybe I should actually go ahead with that idea. This could prove very profitable. Obviously some learning has to be done in the beginning but I do think this has long term benefit. Watch the video below as Jerry explains to you how this can be done.
 

Pretty cool stuff right? Do you see how this can be very beneficial and profitable?
 
I also like the fact that if Ethereum were to go down you can always switch and mine other cryptocurrencies.
 
I highly doubt you would have to change though seeing that Ethereum is projected to be even higher than it is now next year. So in essence we would have to just keep mining, with the steady growth of Ethereum you are bound to see results here for sure.
 
And like Jerry says on the video, if Ether suffers a little setback you can
just hold on to your ethereum. Or alternatively, sell it off for something else.
 
I think this will do well long term. All you have to do is set it up right, invest in this project and it will surely
pay dividends in the future.
 

 
What about you? Are you actively mining Ethereum or any other cryptocurrency?
 
What is the best advice you can give to someone who wants to start doing the same?
 
What about equipment? Any recommendations or sources to recommendations?
 
Do you have a step-by-step guide tutorial of how to go about this endeavor?
 
Please share your thoughts below.

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Thank you very much for sharing the Ethereum mining video and mentioning me here on Steem! I think being a Steem witness for the long term is much better than Ethereum mining because of the community!

What is a Steem witness and how to get started?

https://steemit.com/witness-category/@jerrybanfield/steem-witness-basic-training

I currently mine Etherium, but instead of purchasing all the equipment I am using genesis-mining. Sure I won't see profit for a while, but I don't have a place to host the miner.

Also, be aware that Etherium is speaking of changing the method of its mining protocol early 2018. This will affect how it is mined. See http://boxmining.com/ethereum-proof-of-stake/. With this method you shouldn't need a very powerful GPU.

Thanks for the heads up @dansononlife. That's very useful

Just watch coinmarketcap:

  • bitcoin fall
  • eth fall
  • zcash fall
  • whatever left also falls

They are connected.

Also ethereum difficulty is rising too fast but the prise does not. I expect it to rise but still.

I do believe with time it will rise again. Once the issues with China blows off and we are back to normal we should be on track again.

Yes but my main point was that switching to another coin wont work the way people think it will.

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