Should You Mine Ether to Buy Steem? (Ether Mining Video/Live Talk!)
Overview of what you'll need to acquire, to begin mining, with some personal recommendations, based on what I use:
Mining Frame (Case)
-FLOW 6.1 GPU MINING RIG CASE
-Motherboard (one that accepts multiple GPUs)
-Appropriate low-end CPU to match motherboard (at least 2 Cores)
-Suitable RAM sticks for your system (DDR4/DDR3?-Check which your motherboard takes!)
Strong Enough Power Supply(or two), With Enough Cabling to Fit All GPUs
-EVGA 1200W PLATINUM PSU
Graphics Processing Units, or GPUs (AMD is much better suited for mining Ethereum)(4 GB of memory, or MORE, are highly recommended, as DAG files grow with time)
http://gpushack.com/ - Great Selection of Refurbished Cards
The Card I Use For Both Gaming AND Mining - Excellent all-around and been quite future proof, for gaming/VR. Good if you want to do more than mine.
-Powered USB Risers 1x - 16x (One Per GPU)
-Solid-State Hard Drive
-Your choice of OS (ETHos, Windows (7 is commonly to be best), UBUNTU, or Linux)
http://forum.ethereum.org/discussion/4298/ethos-linux-ethereum-mining-platform
-Your choice of mining software (I prefer Claymore's Dual Miner)
https://bitcointalk.org/index.php?topic=1433925.0
Optional:
A Fan (highly recommended, to reduce wear on your components)
Wattage Draw Meter (Test how much power your system draws)
A Paperclip - This will come in handy when testing your PSU, in case of errors, to test them.
Thermal Glue - Place on the CPU's Heatsink, for better heat dissipation and reduced wattage drain.
WiFi Receiver - No long ethernet cables necessary!
DUAL PSU Starter Cabling/adapter - (If you plan on having more than one PSU, this is a must)
Obviously, you'll want to have a monitor, mouse, and keyboard handy, as well :) You won't need anything fancy- just make sure your monitor has the proper cabling to hook into your selected GPU(s) (HDMI, Mini Display Port, DVI, etc)
I hope that this video is helpful in assisting you to understand what kind of knowledge and physical equipment will be necessary, should you decide that you wish to pursue mining Ethereum and helping the network grow- while making some nice profit.
Please give a like if you enjoyed the video, subscribe for upcoming news and video uploads, and comment any thoughts below!
Thanks for watching, and good luck with the rig!
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TWITTER: https://twitter.com/OmarBham
Donate some Ether here to help this channel grow: 0x30faB7Dc42345904051621166A0369A2Ee9aA7D1
Awesome! How long would it take at this point to break even?
I figured it was going to take about 7-8 months, back when I first built it...giving it plenty of time to make some profit before PoS. However, investing that Ether other places, and buying back in at lower prices, has caused me to get back quite a bit. At one point the price of Ether even hit 21 dollars!
your income from mining ETH is similar to my income for creating glass bead necklaces, I just got paid 133 steem for 4 necklaces today, so steem is like human being mining
As wrong as that sounds "mining humans"...pretty much lol. Steem is a new way of life, in a way.
Very nice! You're killing it with those beads.
@crypt0 like your post. I noticed you are in Miami Beach, same as me. Anyway I run a business out of SOBE and love Crypto also. One day you should drop by my place Extension King, 915 Alton Rd. Miami Beach. We have big Bitcoin sign up for few years there. Stop by for coffee!
My electricity is only $.05 off peak during the summer, and I think $.06 24/7 during the winter. Do you have any idea of the approximate wattage draw on this system?
That is EXCELLENT. You should totally jump on mining, at those prices! This system has a max wattage of 2600, but it's probably pulling closer to 2000 watts.
Upvoted, followed, and saved for later. Tried unsuccessfully to mine ETC during it's first hype phase on my macbook pro but during the failed process was mostly just annoyed at the lack of explanation for non techies. Once the proper rig is built, is joining a mining pool and setting up the necessary software easy enough for those who don't speak Linux/command prompt?
FYI the embedded youtube video doesn't work, but clicking the link opens it in youtube.
I feel you, daut....these things aren't very easily explained, at most sources, especially when you need it most for something like a quick Classic mining profit. However, it's VERY easy to setup and get mining without even touching command prompt, or Linux. Just use Windows (I use 10, but many swear by 7), and download Claymore's Dual Eth Miner. It does most of the work for you, once you edit a text file.
Also, the embedded video works for me. Odd. Does anyone else have this issue, that reads this comment?
Thanks for the up vote, and follow. Upvoted you myself :)
Dont forget the energy costs, i lived in brazil and the energy is so expensive that is better you simply buy the coin with the hardware costs.
you can mine cloud too :) no energy cost just fees when you cash out...
Are you cloud mining, out of curiousity? Have you made a profit, you think, if so?
you mine coins hold on them and when price goes up taram you get a profit.... i use eobot they charge fees every time you cash out... every time you exchange or everytime you buy more hash power with the coins you mined... yeah it can be profitable.... if you buy 5 year plan... genesis has until the coin is no more profitable but is more expensive and you cannot mine any coin you want.... however if you erase the electricity cost its profitable,,, and if the price of coins you mine goes up than yeah,,,, if the crypto coin you mine goes down than you hold and wait until it goes back up.... there are risk of course just like when you trading... right now eobot lunched the Cloud SHA-256 4.0 so people who buy Cloud SHA-256 3.0 they buy it very cheaply compared to others who bought it before... :)
Be carefull with cloudmine, the only that i know is real is genesis and hashnestm they have real mini hw and arent scams or ponzi.
eobot is also a good one its been here since 2014 no complains so far...except that i think they charge fees up to 20% when you cash out or exchange
yep, genesis people said that actually is dont paying so much and the roi is very low too.
Very true. I briefly touched on that point, during the video. Sorry to hear it's so expensive, but buying and holding hasn't worked out badly for anyone, thus far :) Cheers, and thanks for pointing that out on here.
Is this motherboard a suitable replacement? https://www.amazon.com/gp/product/B00N9399TS/ref=pd_cp_0_1?ie=UTF8&psc=1&refRID=3236SQH9GT4AHHBPY9T6
Thank you for the article. Everything is painted in detail!
Thank you for the article. Everything is painted in detail!