Questions from a new miner

FrankTheBank

I've got a miner running for the past day and I have a few questions:
1. How many Gb of data would get downloaded over a month period? I have a 250Gb limit.
2. I'm running Ethminer.exe getting about 20MH but I've heard of "stratum" miners? Would that achieve a better Hashrate?
3. I connect to Nanopools.org is there a better site?
4. How do I withdrawl or transfer out the ether I have built up?
Thanks for any guidance you can provide.

akropiss

Hey, congrats on getting on board, as for bandwidth, I'm not sure myself but I heard of people mining bitcoin back in the day with a 2g cellphone data tether, so, negligible I would assume, though the algorithm is quite different, I'd expect it to be pretty kind. In any case you can probably check your usage with your ISP on their website.

Stratum proxies are good for pools that have them, it reduces latency for the getwork or something, you have to set up the .config in eth-proxy folder, by opening it with notpad and inputting the wallet, servers etc. most of the info should be on the pool. then you make a .bat file from notepad (just save it as a .bat under "all files") with the --farm check 200 stuff, open the proxy, then open the .bat and it will run ethminer as you want it.

Nanopool is good, I'm not sure if they support stratum, but currently there's a problem with large pools, effectively centralizing the system and gaining monopoly, for the most part they're all the same, with the exception of ethpool which, pays in blocks and it isn't trickle payments like the others.

typically there's a minimum payment threshold of 1 eth, once you reach it, at set points of the day the pool does its payout either 2-6 times daily, directly to the wallet address you provide. you also should download the wallet client, i think it's 5.2.0 at this point, and this will make sending, receiving and tracking transactions easier. just be sure to keep a hard/paper copy address book of your passwords.

from there, take it to Kraken, Poloniex, Quadrigacx, Gatecoin, etc. get verified, and send your eth from your wallet to the address in your onsite receiving account, play the market and profit.

cryptoasker

1. No idea
2. Stratum Miner get about 10 to 20 percent more hashrates and a more stable connection - at least thats what dwarfpool and coinotron states.

3. The big three are 1) dwarfpool, 2) Nanopool and 3) Coinotron so you´re good, you shouldn´t use dwarfpool at the moment because of the 51 % attack risk. Coinotron also has stratum mining (don´t know about nanopool)

4. That depends on your pool - normally you just have to input your ether wallet address and it pays out automatically.

FrankTheBank

Thank you both for the tips! I'm set up with QuadrigaCx so I just need to mine harder now. I'm going to keep going with Nanopool. So when I first set it up it gave me a really long Alphanumeric ID is that my wallet address? I will try to find this wallet client next. Really appreciate the guidance.

akropiss

Yes, it should look something like 0x52582862y6228ghe34sd23d85y2 and should be in your wallet. when you first do the eth commands to make an account it's the one it gives you, regardless of which address it is, so long as it is in your wallet (usually under etherbase) and you use this address for the pool, it will payout there. you can always create new addresses if you need to, just don't delete one while it has a balance or it's lost.

nanopool is a good option, it's big but not nearly as large as dwarfpool which is so large its somewhat of a risk to the system, and they payout smaller amounts which is always good, especially if you're not running a large rig.

here's where you can download the wallet if you haven't already
https://github.com/ethereum/mist/releases

so while mining, you should have one command window open running geth --rpc, another running the proxy and a third running ethminer through the .bat file if you're planning on using stratum which is supposed to increase earnings by 5-20% by reducing latency or something like that. if at some point you see in the proxy window SHARE REJECTED this could be due to a few things but from my experience, just close 'er down and start 'er up again. there may be a more streamlined way to mining, but that's how i do it, and it works out fine.

cheers and good luck

sneakychrono

Hi everyone, I just got into mining and I have one question that I cannot find an answer for.

how is the Ether that we are mining get created, where does it come from?

Is there like a big entity that is sending ether every 12 seconds to the mining pools?

can someone clarify this for me please?

Thanks

coolr

Guys check this out there giving away 15kh from hashocean and 25 gh from bitcoremining free just for signing up, its like giving away free cash its crazy! https://hashocean.com/signup/?rid=435264 and link: http://bitcoremining.com/r/1962 heres the link you can thank me later

Doug

@coolr For most of us.. Soon as i see a referral its a HUGE red flag. 1951 ker*** (07/04/2013) 31 347 KH/s 81% 14.37270180 BTC https://hashocean.com/rating/?page=40 well for a site that is only a year or two old im trying to wrap my head around how this user signed up in 2013?

work

@Doug you just responded to spam in a thread that had been inactive for almost a month. Clicking the Spam button is generally more useful to the board's signal to noise ratio.

Anyway, the hashocean domain was registered on 2013-03-21, so maybe that ker*** user is an early investor or something. Who knows. Or, maybe the info on their site is fake and it's all random numbers. I have no idea.

Doug

yes but when new users come here and thats the last post here i figured id at least give a gentle warning.. I see what you mean tho.. Best Regards

Brie844

20 MH/s is win win solution, how much it cost on cloudmining service even its example 1 year contract (im not say service name)