“How to Mine Ether” is a trending question right now in some places on the Internet. Anyone with the slightest idea of how much the price of cryptocurrency mining can increase with the passing of time knows that having some wealth in the form of Internet coins provide you with the possibility of becoming rich in a couple of years if the price rises. It has happened and it’s still happening with BTC.
Many internauts who have done a little research on hash rates, GPU mining, and the the Bitcoin mining operation as a whole are interested in spending their savings on a powerful graphic card, an ether wallet, and a bunch of cryptocoins and see what happens. The most conservative among us will go straight for Bitcoin mining, which is actually the most solid and best-established cryptocurrency mining method right now.
However, there are other suitable mining Bitcoin and other currency options in the mining pool which haven’t gained that much popularity yet. A great example is Ether, a cryptocurrency used by the platform for app developing called Ethereum. This upcoming currency is still considered a new one for the mining pool. For this reason, it’s considered volatile, but also a great promise for investors looking for future wealth once it has solidified as BTC has.
The Question “How Can You Mine Ether?” Is Easy To Trace Back. There Are Two Major Ways People Can Increase The Amount Of Ether They’re Holding:
Cryptocurrencies don’t work like normal currencies. It’s not only printing more and more and that’s it. The process for cryptocurrencies is a little bit more complex than that. We can say there’s a huge competition going on during day and night between computers from all places in the world mining for coins.
Due to the popularity cryptocurrencies have earned in the last few years, there are now thousands of transactions taking place at this very moment. With people sending coins to each other all the time and no way to keep track of who is paying what… but, there is a way!
Cryptocurrency networks are able to collect and monitor information from transactions by making lists of “miners”, which are nothing but typical computers with a “blockchain” assigned. This way, computers collect all the info about transactions done in that blockchain during a set period of time.
For this purpose, the potential of a GPU is way more useful than a CPU. That’s why many users looking for answers on how to mine Ether may be interested in getting a great GPU for Ether mining. Mining has become such an attractive activity to earn money using GPU (especially when users are sleeping) that companies such as NVIDIA and AMD have stated their desire to make chipsets for this specific purpose.
Now that you know how mining works, it’s time to look for the best option to mine with your GPU and start making some Ether, which you know, will turn into profit in some time!
How Cost-Effective Is Mining Ether? Well, if you’re going to start your own mining project for Ether then you should be aware of cost-efficiency. It’s easy to determine how cost-efficient using your GPU to mine is in a very easy way.
With a medium-quality GPU, you’d be mining around 25 mega hashes, which can turn into a lot of money depending on how much is Ether worth that day. Even if your GPU is worth $200 of additional costs such as the electric bill, it’s still a great investment taking into account your Ether wealth is very likely to increase.
It can be a little difficult mining Ether with your GPU. If you want to save time and effort, then the best way for you to start mining is with a contract. It’s called cloud mining and it’s a very popular method used for Bitcoin mining.
How Does It Work? It’s called cloud mining and it’s a very popular method used for Bitcoin mining. How Does It Work? Very easily! You pay a cloud mining entity to do everything that’s needed in order to mine with your GPU. You won’t have to install any tedious software or do any maintenance on your PC (usually, several restarts are required).
For a pre-set price you’ll get 100% run time and immediate replacement of equipment is something happens. These contracts are signed for a one-year period and it depends on how much you’ll be willing to let them mine from your GPU. Smalls contracts are based on 1 to 5 mega hashes, medium contracts are about 20 mega hashes and largest ones are around 100 mega hashes. They’ll usually charge around $50 per hash which is still an excellent price!
Why Don’t These People Charge More? Well, it’s simple. As they are working with bulk, they get special discounts from mining systems and they also put their servers in places where it’s very affordable the maintenance and energy consumption such as Iceland (they don’t have to pay to have an air conditioner running all day and all night because the equipment is kept fresh.)
Nevertheless, if you don’t want to pay others to keep you free from all the annoying work of setting a GPU to start mining then you can try this guide which will help you with the process. To sum up, it’s a very good idea to mine some hashes with GPUs and hope to see an increase in the price of this cryptocurrency which is being widely accepted among the Internet community.
Remember That Some Of The Entrepreneurs Who Dared To Invest Some Money In BTC Are Now Very, Very Rich!