Mining is the process of extracting cryptocurrencies from the blockchain system. Simply put, this is one way to make money using your computer. How to mine ethereum? A question that interests advanced PC users. The popularity and growth in the price of bitcoins, ethereum and other cryptocurrencies were the result of the development of earnings through mining.
What does it mean
One of the main components of making cryptocurrency is a good video card. A properly selected graphics processor can bring a good profit to the miner. How to start ethereum mining, and what does it mean? The emergence of bitcoins - a new cryptocurrency - was the initial stage in the development of the cryptocurrency industry. Bitcoins have broken the stereotypes that digital money and how to earn money are worthless. In fact, cryptocurrency is an electronic profit that exists on the Internet thanks to a certain constantly active algorithm. The amount of electronic money is limited, therefore, they can only be obtained by extraction. Cryptocurrency is often compared to gold.
Ethereum is mined by enumerating numbers, each of which has its own hash. If this hash matches a specific pattern (it has the required number of zeros), the process of issuing a new cryptocurrency, that is, its mining, begins. The peculiarity is that it is only more difficult to get cryptocurrency over time. If the miner finds a number or a new block, he receives a reward. The probability of making a higher profit appears when the miner uses powerful software, a processor or a video card.
What is it for
How to mine ethereum on a laptop? In order for the miner to make a profit, and the algorithm runs successfully, you must have a powerful computer. Making a profit is best left to GPU graphics cards that support many parallel pipelines. The difficulty of mining cryptocurrency lies in the fact that its popularity is growing rapidly, therefore, information operations are increasing. During the mining process, crashes often occur. To avoid them, developers unite computers in a network whose task is to deal with hashing. Computer owners are rewarded for this process. Earnings of miners for nine years, since 2008, amounted to more than two billion dollars.
The word maining, translated from English, means "mining." The more cryptocurrency miners in the network, the more reliable it is against cyber attacks. Also called a miner is a device that calculates cryptocurrency. How to start ethereum mining correctly? Profit in the production process depends on the creation of new blocks. Each of them consists of a cryptographic signature formed thanks to a previously created block. A block chain is called a blockchain. Over time, it branches, becomes longer.
Structure
How to mine ethereum on a video card? The basis of this process is to connect powerful computer resources, conduct transactions with cryptocurrency and unite mining participants. In fact, the procedure for mining bitcoins is a data processing center. The cryptocurrency system is decentralized, that is, miners are located in different places of the planet during mining. When new blocks are created, a new cryptocurrency is released. All participants in this process have their own work, which is to preserve the life of the system. For this, miners make a profit.
Instruction manual
How to mine ethereum on a processor? You can do this not only on it, but also with the help of a powerful video card. The minimum amount of RAM for mining on a video card is 1.4 GB. The cryptocurrency mining process on the processor consists of several steps:
- Ethereum mining requires a pool. These are sites specializing in the extraction of ethereum. Find one of them and register there.
- In your account, create an employee in the "Worker" section. To do this, specify a name and password, confirm the action. Do not forget to write the number of your electronic wallet in the corresponding line. Ethereum will go there.
- Download a proven mining program.
- Set it up.
The most difficult part in the instructions is setting up the program. It will take some knowledge of the processor, graphics card, hash writing. For mining on a video card, the steps are almost identical.
- Register on the site.
- Create an employee.
- Set a wallet for ethereum.
- Download the client program. Unzip the archive, open the folder "ethminer-opencl", find the file "coinmine.cpu". Open it in notepad, delete the contents and write: ethminer-GF http://eth.coinmine.plhaps000/ indicate here your working name / and password.
- Save the file.
- The video card will start working (it will heat up, make buzzing sounds). This means that the process of extraction of ethereum is started.
pros
How to mine ethereum on NVIDIA? Making money using a video card has quite a few advantages:
- Passive way to make money. Miner only needs to run the program.
- Personal data stored on a computer is protected.
- Many available ways to withdraw earned funds.
- The income is stable and constant.
- Earnings can be increased through affiliate programs.
- There is no minimum withdrawal amount.
Minuses
How to mine ethereum? This procedure has its own difficulties. This way of making money is not easy, especially for insecure PC users. The disadvantages of mining include:
- Fast heating up the video card.
- High energy costs.
- The computer may run slower after setting the video card to maximum output. Better to indicate average values.
- Profits can be achieved if you work on multiple computers.
Ways
How to mine ethereum on a video card? You can earn using a computer in several ways:
- Using a regular computer. For this, the novice miner needs to download a special program. No additional investments, contributions are required. The main thing is to choose a hardy video card, since the cryptocurrency mining process takes away most of its power. The user can go about their business at the computer and simultaneously mine.
- Through special equipment. You need to buy a special purpose integrated circuit (ASIC) and create a "farm" for cryptocurrency mining. The device works actively and brings the miner consistently high incomes. This method is not cheap. First you need to spend about a thousand dollars to start making decent money.
- Using graphics cards for mining. Users can purchase special graphics cards whose feature is pure performance. Such models are produced by well-known manufacturers. Asus is one of them.
Reviews
How to mine ethereum? A question that interests many PC users. Judging by the reviews, cryptocurrency mining using a video card, software, processor is a complex, often useless process. In order to start doing this, you must have certain knowledge and capabilities. An important role in the extraction of cryptocurrency is played by a powerful computer. Many are mistrustful of mining, because in order to make a profit, you need to spend a lot of time creating blocks. There is no guarantee that the result will be positive. There are a lot of scammers online, the cryptocurrency mining process is often attacked, so few manage to make money.