<a href="https://imgbb.com/"><img src="https://image.ibb.co/hjMzyk/images.png" alt="images" border="0"></a> **When** it comes to mining cryptocurrency; people think that this is an easy task including myself. It all began when I was having a conversation with a friend talking about the global economy. The conversation was so interesting as we talked about different topics in the same subject however my friend asked me this question Have you ever heard about bitcoin? I said to him, are you talking about these currencies that hackers use when they did their cyber attack last time? He said yes. Since that day I started to learn more about bitcoin, thus my search lead me to mining. Viewing bitcoin mining history is quite interesting, when I first heard about mining I thought that mining bitcoin can be done by CPU, then I know about asaic hardware, to make it short mining bitcoin is impossible fus due to the difficulty that bitcoin had reached. I took the challenge and started to learn more about mining , I went through all the hardware, how they work ,what is the cost considering efficiency and profitability. After gathering all the necessary information to build my first rig that I called Dubai, I decided to use AMD GPU and to be more precisely I was looking for Rx480 8 gb to mine ethereum. <a href="https://ibb.co/eiwqM5"><img src="https://image.ibb.co/cJ3Fok/rig_1.jpg" alt="rig_1" border="0"></a> First obstacle I face was buying these cards as those cards are not available at Amazon, eBay, Best Buy you name it, these cards had disappeared from the market and if you're lucky enough you'll find them with triple price. Finally I figured out to get six GPU with an average of $400. Honestly I'm not an expert in computers as in fact I am a Marine engineer working in supply chain business. I watched all the videos about building computers, read hundreds of posts and articles. Day by day I realized that mining is a difficult process and something is not easy to achieve or sustain. Finally, I got my rig fixed together everything is in place, GPU are connected to the motherboard and the motherboard is connected to the power supply; as I believe that everything is in order. I push the start button and nothing happened, as I keepd trying hundred times and nothing happened. It toked me four days to figure out what is the problem and another week for the GPU drive. Actually when you go to practical things get different, Over all you will be stuck with the small details that you did not considere or pay attention to before. After one month my rig is running, and I said to myself ha ha Ha I didn't mining is easy. Well things went good for a while and then I realize that I have other problems I need to do maintenance and upgrades to my rig. Moreover, I was trying to figure out heat issues since I'm living in a hot country, up to this point I did ask myself the game is mining easy. I started mining on June 2017, with 120 Mh/s and I collected my first ethereum after 26 days. The results were convenient so I started to build my second rig and order the parts required for it. I collected my second Ethereum after 33 days with 140Mh/s and after 38 days with 155Mh/s I will collected my third Ethereum. Today my second rig that I named Japan is working with a total production of 275 Mh/s including the first rig I am going to get my coin after approximately 30 days. <a href="https://ibb.co/iZ0jg5"><img src="https://preview.ibb.co/dJdFok/IMG_1329.jpg" alt="IMG_1329" border="0"></a> Can you imagine running two rigs and getting only one coin, however I know that this was due to mining difficulty, but I did not imagine the difficulty would increase rapidly in such a crazy trend. # Is it time to switch mining to another coin? Reaching to this point of difficulty and knowing that difficulty will continue increasing, lead me to think about mining another coin as for us minors, not only considering the current price of the coin as we bid on the future price of the coin. Subsequently number of coins that we collect from mining is something we do consider. **What is my current earnings** Because i am doing dual mining by claymore mining, that means i am mining ethereum plus another coins which is DCR(Decred coin). producing 270 Mh/s mkas 1.17 ETH which is $280/ month + 5500 Mh/s 2.01 DCR which is $$68.64, total is $348. [](https://postimg.org/image/hgubmi6mt/) <a href="https://ibb.co/dYJRB5"><img src="https://preview.ibb.co/jxOtr5/Capture_13.jpg" alt="Capture_13" border="0"></a> <a href="https://ibb.co/hbCdr5"><img src="https://preview.ibb.co/d09f4Q/Capture11.jpg" alt="Capture11" border="0"></a> **What are the priorities?** For mining first of all we need to pay electricity bill, keeping in mind that if we don't get our electricity bills paid , the mining process is a total loss. Second thing is to look for a decent profit, based on today price. third thing is the most significant one, it is bidding on the future price of the coin and how the coin will behave in the future, so getting more coins is something vital for this purpose. Finally, what are the predictions of new hardware as looking for news about hardware that produce more hash rate, trying to catch up mining difficulty increasing. **Should i continue mining ethereum?** Since 3 months ethereum price is between 220 and 300 in average as there are no significant increase, and by analyzing ethereum price you can see that there is no increase in price since three months back. Moreover difficulty reach to a critical point as making more coins is not like before. While other coins there prices have increased and there difficulties are still maintain in an acceptable level. <a href="https://ibb.co/cxdbuQ"><img src="https://preview.ibb.co/ni3n15/eth_def.png" alt="eth_def" border="0"></a> # Brave enough or not After knowing all of this I realized how much mining is a difficult task; as i reached to a point that's make me in a uncomfortable zone as I need to stretch my limits and take a decision to mine another coin and to take the risk. According to the difficulty chart mining difficulty had increased rapidly, maybe more than triple times or more, and it will continue going up. Now we know that there are Ethereum collectors, and these people will continue collecting every single coin in the market, because there will be less coins to be produce in the future due to difficulty increase, definitely the price will go up. The aforementioned is the scenario that I'm expecting for Ethereum in the future, as I have that strong believe ethereum will touch $600 in the end of this year. The whole idea is the coming future for ethereum worth mining and getting less coins while in the other hand price will jump, or its better from now to go mining monero or zcash for instance. <a href="https://imgbb.com/"><img src="https://image.ibb.co/nQXpyk/images_7.jpg" alt="images_7" border="0"></a>
author | ehabakhdar |
---|---|
permlink | brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin |
category | ethereum |
json_metadata | {"tags":["ethereum","bitcoin","cryptocurrency","trading","mining"],"image":["https://image.ibb.co/hjMzyk/images.png","https://image.ibb.co/cJ3Fok/rig_1.jpg","https://preview.ibb.co/dJdFok/IMG_1329.jpg","https://s26.postimg.org/admg6w17d/image.jpg","https://preview.ibb.co/jxOtr5/Capture_13.jpg","https://preview.ibb.co/d09f4Q/Capture11.jpg","https://preview.ibb.co/ni3n15/eth_def.png","https://image.ibb.co/nQXpyk/images_7.jpg"],"links":["https://imgbb.com/","https://ibb.co/eiwqM5","https://ibb.co/iZ0jg5","https://postimg.org/image/hgubmi6mt/","https://ibb.co/dYJRB5","https://ibb.co/hbCdr5","https://ibb.co/cxdbuQ"],"app":"steemit/0.1","format":"markdown"} |
created | 2017-09-24 19:12:36 |
last_update | 2017-09-24 19:13:18 |
depth | 0 |
children | 6 |
last_payout | 2017-10-01 19:12:36 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.336 HBD |
curator_payout_value | 0.064 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 7,002 |
author_reputation | 1,378,158,082,376 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,821,568 |
net_rshares | 112,951,549,145 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
ubg | 0 | 219,765,453 | 1% | ||
lordoftruth | 0 | 85,235,735,408 | 4% | ||
cryptojaxx | 0 | 14,175,949,127 | 100% | ||
nadro | 0 | 473,410,988 | 100% | ||
ehabakhdar | 0 | 7,419,126,405 | 100% | ||
a7md8 | 0 | 1,143,228,641 | 100% | ||
rakoo | 0 | 3,326,840,810 | 100% | ||
trading4life | 0 | 957,492,313 | 100% |
Check out http://whattomine.com/ It gives a pretty good overview of what's most profitable to mine based on the current price. Right now ETH is still among the most profitable. But yeah, that won't last since they're planning to switch to PoS. Though I'd focus more on coins that will have more value in the future. ETH is certainly among them. You could also give NiceHash a try, which basically just mines whichever coin is most profitable at that time and pays you out in BTC instead.
author | nadro |
---|---|
permlink | re-ehabakhdar-brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin-20170924t224315165z |
category | ethereum |
json_metadata | {"tags":["ethereum"],"links":["http://whattomine.com/"],"app":"steemit/0.1"} |
created | 2017-09-24 22:42:27 |
last_update | 2017-09-24 22:42:27 |
depth | 1 |
children | 1 |
last_payout | 2017-10-01 22:42:27 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.027 HBD |
curator_payout_value | 0.001 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 487 |
author_reputation | 1,963,656,471 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,833,792 |
net_rshares | 8,366,675,118 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
ehabakhdar | 0 | 7,229,282,845 | 100% | ||
zahrani | 0 | 1,137,392,273 | 100% |
Thanks for the advice, I will give it a try.
author | ehabakhdar |
---|---|
permlink | re-nadro-re-ehabakhdar-brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin-20170924t231707083z |
category | ethereum |
json_metadata | {"tags":["ethereum"],"app":"steemit/0.1"} |
created | 2017-09-24 23:17:06 |
last_update | 2017-09-24 23:17:06 |
depth | 2 |
children | 0 |
last_payout | 2017-10-01 23:17:06 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 46 |
author_reputation | 1,378,158,082,376 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,835,498 |
net_rshares | 0 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
nadro | 0 | 0 | 100% |
This is really great technique. Wish you all the best 🍻 Thanks for sharing 👍🏻
author | rakoo |
---|---|
permlink | re-ehabakhdar-brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin-20170924t191758275z |
category | ethereum |
json_metadata | {"tags":["ethereum"],"app":"steemit/0.1"} |
created | 2017-09-24 19:17:57 |
last_update | 2017-09-24 19:17:57 |
depth | 1 |
children | 1 |
last_payout | 2017-10-01 19:17:57 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 78 |
author_reputation | 116,712,949,133 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,821,895 |
net_rshares | 0 |
Thanks mate :)
author | ehabakhdar |
---|---|
permlink | re-rakoo-re-ehabakhdar-brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin-20170924t194750636z |
category | ethereum |
json_metadata | {"tags":["ethereum"],"app":"steemit/0.1"} |
created | 2017-09-24 19:47:51 |
last_update | 2017-09-24 19:47:51 |
depth | 2 |
children | 0 |
last_payout | 2017-10-01 19:47:51 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 14 |
author_reputation | 1,378,158,082,376 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,823,833 |
net_rshares | 0 |
Interesting story. The struggle is with the small things :D You could change to Dash or Litecoin? May you do well!
author | trading4life |
---|---|
permlink | re-ehabakhdar-brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin-20170924t211540394z |
category | ethereum |
json_metadata | {"tags":["ethereum"],"app":"steemit/0.1"} |
created | 2017-09-24 21:15:48 |
last_update | 2017-09-24 21:15:48 |
depth | 1 |
children | 1 |
last_payout | 2017-10-01 21:15:48 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.021 HBD |
curator_payout_value | 0.004 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 115 |
author_reputation | 106,676,305,978 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,829,114 |
net_rshares | 7,420,994,542 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
ehabakhdar | 0 | 7,420,994,542 | 100% |
You are absolutely right . Thanks for you support.
author | ehabakhdar |
---|---|
permlink | re-trading4life-re-ehabakhdar-brave-enough-or-not-is-the-time-to-stop-mining-ethereum-and-switch-to-another-coin-20170924t214257315z |
category | ethereum |
json_metadata | {"tags":["ethereum"],"app":"steemit/0.1"} |
created | 2017-09-24 21:42:57 |
last_update | 2017-09-24 22:02:48 |
depth | 2 |
children | 0 |
last_payout | 2017-10-01 21:42:57 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
curator_payout_value | 0.000 HBD |
pending_payout_value | 0.000 HBD |
promoted | 0.000 HBD |
body_length | 50 |
author_reputation | 1,378,158,082,376 |
root_title | "Brave enough or not, Is it the time to stop mining ethereum and switch to another coin?" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 HBD |
percent_hbd | 10,000 |
post_id | 15,830,667 |
net_rshares | 725,372,964 |
author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
trading4life | 0 | 725,372,964 | 100% |