we’re going   to be speaking about cryptocurrency mining intimately

so we’re supplying you with an summary on it   and the way does it work completely different sort of mining rigs and what impacts your mining earnings as   nicely as supplying you with my opinion on the eighth 2.0 in addition to the EIP-1599 so there can be loads   of knowledge on this video I hope you guys take pleasure in it and also you get one thing helpful out of it on this video i do have loads to discuss and clarify however the very first thing i   ought to cowl is cryptocurrencies if you’re new to mining i might assume you are pretty   new to the crypto world basically and got here throughout of it as soon as the costs skyrocketed in   the current months as of january 2021 so let me briefly run down what cryptocurrency is   cryptocurrency is a digital asset identical to your {dollars} besides that it runs totally digital it   doesn’t have a financial institution or any central entity that controls it therefore why it is known as decentralized   and that is likely one of the principal execs of cryptocurrency there are a lot of cryptocurrencies which might be newly   launched however typically as a miner we solely give attention to the worthwhile ones i’ll contact extra on that   afterward with cryptocurrency your cash is your individual you retain your cryptos in a pockets that’s made   of a public and a personal key think about your public key to be your electronic mail deal with and your non-public key   is your password to obtain or ship cash you can be utilizing the general public deal with now meaning   in case you lose your cash or ship it to the incorrect deal with you do not have a method again as for anonymity   cryptocurrency is pretty nameless however not laborious to observe down the supply of the transaction and the   receiver there are some cryptocurrencies supposed for additional privateness and such however to obtain almost   as full anonymity as potential you’ll positively want to do extra work from burner telephones to bitcoin   atms one of many principal issues that it’s best to know is how to purchase cryptocurrency and the way to promote your   cryptocurrency there are completely different rules for each nation however i’ve made a video on each of   these subjects in addition to on completely different wallets and exchanges you should have the hyperlink of those three   completely different movies within the descriptions under that may assist you to perceive that half completely i   do advocate watching these movies after this one and that i do hope this two sense of a proof was   ample for some background data now let’s discuss cryptocurrency mining   cryptocurrency mining is the method of validating transactions and minting new cash from block   i’ll additional clarify what blocks are and the way they work however first let’s discuss   the 2 alternative ways to mine one is proof of labor and the opposite is proof of stake proof of   work is what all of the completely different mining {hardware} falls underneath equivalent to gpu rigs a6 fpgas and so on the   mining {hardware} solves randomly generated complicated puzzles utilizing electrical energy and computational energy   and you then’ll get compensated as soon as you discover the appropriate resolution whereas proof of stake is in   a method being a shareholder so it is proudly owning a sure variety of sure cryptocurrency   to then find a way to launch a node and that can be validating transactions and minting new cash out   of the blocks often these nodes want a minimal variety of cash to create one in some eventualities   your cash are locked out and you’ll’t transfer them round however there’s additionally comfortable staking which is extra   versatile fpc wants to be on 24 7 to preserve your node on-line however it may be any laptop so long as it is up 24   7 with a secure web connection there may be extra to staking than what we have talked about right here however i   really feel like it could want its personal video to be totally coated so now let’s get again to the primary focus of   nearly all of miners and newcomers that come to this channel for and that’s proof of labor   proof of labor has way more to it there are a lot of completely different algorithms that cryptocurrencies fall   underneath algorithms are principally completely different arenas of puzzles so some mining {hardware} can excel higher   at sure cash with sure algorithms greater than different cash the measurement on your mining   energy is your hash price the hash is taken into account the answer try to the puzzle so in case your   hash price is 30 mega hash you then’re doing 30 million resolution

makes an attempt a second there’s a   lot extra complexity to it relating to to fixing the block and such however i do not need to get too   technical on this video i simply need you to have an thought however i’ll depart a hyperlink within the   descriptions under for an article that explains it rather well now like i discussed earlier than there are   various kinds of mining rigs so let’s go forward and undergo these various kinds of rigs and   clarify them briefly first now we have the a6 a6 are often known as utility particular built-in circuits   and they’re largely used to mine sure cash with a excessive output of computational energy as   nicely as a excessive electrical consumption now by mining a selected coin i imply that in case you purchase for instance   an s19 it offers a computational energy of 110 terahash and consumes 3 250 watts however it will possibly solely   mine cash that use the shot 256 algorithm equivalent to bitcoin with such immense hash price your earnings   will nonetheless appear low due to the community issue which we’ll clarify afterward within the part for   what impacts your mining earnings after which the second sort of mining charges now we have the fpgas   fpgas are principally what’s in between the a6 and the gpu miners so that they’re made for a handful of   algorithms they cannot mine each coin however a few of them can they usually’re very related to gpus however they   are extra environment friendly and extra worthwhile to some extent however they will additionally get very very costly   i personally haven’t any expertise in any respect with any fpgas so someday we’ll in all probability do a video   overlaying them intimately after which the third factor now we have are the gpu miners and that is   what this channel is primarily about so in gpu mining use graphic playing cards to find a way to get extra   computational energy so the extra and higher gpus that you’ve the extra mining energy you will have   and this selection is probably the most residential pleasant as a result of asic miners do produce a number of warmth   and noise whereas fpga miners are very related to gpu miners so these two choices are residential   pleasant in a method i’ve not too long ago launched a full shopping for information for gpu mining rigs the hyperlink   can be within the descriptions under and we additionally had a giveaway in that video and the winners of that   giveaway can be chosen on this video and there are completely different sort of mining equivalent to usb mining   cpu mining in addition to storage mining the place you’ll be able to mine along with your laborious drive however all of those would   in all probability require their very own particular person video since there may be a number of data to cowl on them so   hopefully within the close to future i’ll have a video on each sort of mining rig so to get   extra data relating to to these subjects now that we wrapped up the completely different sort of mining   rigs we will go forward and transfer on to the completely different sort of mining providers in order for mining providers   what i imply by that’s cloud mining internet hosting in addition to gpu rental or shopping for pre-built rigs so   i am simply going to offer you my opinion on them this isn’t a monetary recommendation nevertheless it’s simply my opinion   on these platforms and perhaps you’ll be able to profit from it so the very first thing i need to begin off with is   cloud mining cloud mining to probably the most half it is often unreliable there are a lot of eventualities that   individuals get handed the unhealthy finish of a stick in cloud mining since your cash goes to a third-party   providers that ought to be supplying you with hash energy in return however you by no means know when these providers   will shut on you or depart there’s a number of ones which might be scammy so they might take your cash and   promise you a sure return equivalent to 10 a month or such however you then’ll by no means get your a reimbursement   you are in all probability going to be requested to pay extra to find a way to withdraw your funds and you then’ll   by no means find a way to withdraw them both method whether or not you pay or not so simply watch out with these   providers for cloud mining most of them are scams i truthfully would not use a service for cloud mining   it is higher to simply construct your individual rig after which there’s additionally internet hosting internet hosting may be helpful in case your   electrical energy may be very costly so for instance i’ve seen a number of feedback from germany they usually’re   all discuss how costly the electrical energy is which is insane it is about 25 cents and above   so in that case mining cryptocurrency is usually a little bit powerful for you in case you have to pay the   electrical energy invoice it will possibly get actually hefty so what you will want to search for is anyone credible or   anyone that you just belief that may host for you and what meaning is that you’re going to principally   have your rigs run at somebody’s else’s place so if anyone for instance in us or canada   they usually have a reasonably respectable electrical value you’ll be able to have your rig constructed there by the particular person or   ship them the rig whichever method is snug for you after which from there you will have your   rig working there by overlaying your individual electrical energy prices in addition to giving the individual that’s internet hosting   it for you a bit of little bit of fee now as for what providers can you employ for internet hosting

i truthfully   do not know myself there aren’t many on the market however i might simply go searching and take a look at to discover a   pal or member of the family that you could belief as a result of that’s way more dependable than placing your rigs   with anyone else that you do not know after which the very last thing is shopping for pre-built rigs   so typically individuals would need to purchase only a rig that is pre-built and prepared to go plug and play   simply to lower your expenses and to keep away from the effort of getting to construct it your self however truthfully my   tip to you is to work out how to do it your self as a result of you can be in such a tough time afterward   in case you get one which’s pre-built we could say that you just did purchase a pre-built rig after which ultimately   you run throughout a problem or instability issues and your rig begins appearing up if you do not know   the way it’s constructed and you do not know the way it works you can be investing much more time attempting to determine   out what the issue is a few pre-built rigs that you could purchase off of individuals would possibly give you help   or service however nonetheless i truthfully advocate you to keep away from that however in case you’re an enormous investor and   you are trying to construct out an enormous farm then perhaps you’ll be able to look into hiring an individual or two to do it   for you after which that can be a greater possibility now that wraps up the forms of mining providers in case you   have any questions let me know within the feedback under these are all simply my opinions nothing is   for certain however i am simply letting via my expertise and thru seeing different individuals’s   experiences so now let’s get to the necessary components what impacts your mining earnings what makes   you make more cash what makes you lose cash and all that stuff the very first thing about your mining   earnings is understanding what crypto coin it’s best to mine now relying on what you are utilizing whether or not   it is asics fpgas or gpus you will have a special coin of your individual to decide and mine however for this   video we’re going to give attention to gpu mining since that is the first class for this channel   so to know what cryptocurrency you ought to be mining along with your gpus that is dependent upon what gpu   you will have so there may be this factor known as the dag file the dac file is principally an information set that is   saved on the vrams of the gpu and these knowledge units measurement will increase over time so meaning some gpus   for instance the 4 gigabyte playing cards cannot mine ethereum anymore as a result of the dac measurement is bigger   than 4 gigabytes although you’ll be able to nonetheless do them with zombie mode on however your hash price will   be drastically decrease so that is the significance of the dag file that is why it is advisable to   purchase gpus with six gigabyte vram or extra to mine ethereum ethereum is probably the most worthwhile coin for   all gpu miners on the time of this add however then as a number of you guys know ethereum can be transferring   to proof of stake they usually had been additionally going to be eliminating the mining charges that us miners get   paid however earlier than i offer you my opinion on that information let me first clarify to you what impacts   your earnings so that you perceive why it is a massive deal so the best way that your earnings improve or lower   is dependent upon three various factors to whichever coin you are mining to clarify the three components i   can be utilizing ethereum for example so now let’s return to the block from earlier the block is   what will get mined by your {hardware} and that block has a base reward of two ethereum so to illustrate   10 individuals with equal energy in a mining pool find yourself mining that block and discovering the appropriate resolution   that signifies that two ethereum can be divided equally between all of them since they’ve the   similar quantity of energy however in case you’re a solo miner and you bought fortunate and you then resolve the block   all of the incentives will come to you straight so the 2 ethereum can be solely yours however then with   photo voltaic mining your chances are high a lot decrease as a result of the extra hash price you will have the upper probabilities for   you to resolve a block is and evaluating your hashtag to a mining pool then that would depart you at a   very slim probabilities to find a way to resolve the block in some eventualities solo mining may be good however in most   eventualities pool mining is the best way to go for secure incentives so now that the bottom reward of a block   is to ethereum you additionally want to add to it all of the transaction charges which might be inside that block so   to illustrate i might ship ethereum to somebody i might pay a small charge for that transaction to go there   that charge goes to the miner so now to illustrate there may be 10 000 transactions that occurred or   10 million all these small charges would find yourself being on this block which will increase their block reward   in order that two ethereum base reward can be there that is the 2 ethereums which might be going to be   launched to the community so these are the cash which might be really mined the brand new cash   after which there’s the transaction charges these transaction charges will simply improve the block   reward after which it is the identical idea

all people that solved it with the quantity of energy that   they’ve they may get the incentives in accordance to how a lot effort they put into that block so   typically you’ll be able to see blocks with 3 ethereum 5 ethereum 10 ethereum all of it is dependent upon the   quantity within the community so the extra transactions occurring within the community the extra you receives a commission   however typically we do not see excessive numbers that a lot often it is round three ethereum for ethereum   for a block reward and that itself is admittedly good now there’s additionally yet one more factor that impacts block   rewards and that is having halfing does not occur on ethereum nevertheless it’s principally what cuts down   the bottom block reward by half so this occurs on bitcoin each 4 years each 4 years   bitcoin will lower its block reward by half which makes mining the remainder of the coin more durable which in   return will increase shortage and that is often good for the value now talking about value that’s one   of the necessary components on your profitability so if ethereum’s value goes up your profitability   of mining ethereum goes up as nicely and that works for each different coin as a result of if you’re   mining you are getting paid with that ethereum so in case you’re getting paid for instance level   a month and ethereum is at a thousand {dollars} you then’re getting paid 100 {dollars} a month for   mining however then if ethereum drops its value to 5 hundred {dollars} and you are still getting paid   0.1 ethereum a month you then’re solely going to be getting 50 the value cannot be taken   as a right as a result of all of it is dependent upon if you determine to money it out so for instance if   you are mining ethereum all through the month and all through the month the value of ethereum was   excessive above a thousand {dollars} however then the day that you really want to money it out ethereum value drops   meaning the value actually did not have any impact there apart from taking your earnings down   as a result of the value went down the second you wished to take your cash out that is why you want to be   cautious with promoting your cryptocurrency and discovering the appropriate time to promote them   now the very last thing that impacts your profitability that’s the issue of the community   and to clarify that the easiest way potential i really feel prefer it’s finest to use a metaphor so let’s consider   the block reward as a bit of snack bar that you’ve and also you even have your pals round and   since you are a beneficiant particular person you are going to share it with them so you’d typically share   this between all your pals equally they usually all get a share of that sweet bar however now let’s   say you will have one other sweet bar after which you will have extra buddies came visiting so that you’d need to share that   similar sweet bar via extra individuals so that you’d have to break it into smaller items that goes the identical   method to the block reward so when extra miners come to the community the issue will increase as a result of   the whole hash price will increase meaning all people that is consuming from the identical plate could have only a   smaller portion and in some eventualities issue would lower when the value of ethereum goes   down and in these occasions you would be mining extra ethereum however the value of ethereum is decrease   so your earnings will look decrease so that is what issue does it principally simply adjustments how a lot   you get from mining and now including that to the 2 different components that are the transaction charges   and the value of the cryptocurrency that offers us the three components that influence your mining earnings   i hope it was all clear to perceive in case you guys have any additional questions let me know within the   feedback under now earlier than i discuss ethereum 2.0 and what’s occurring with the miner charges being   taken off with the brand new eip implementation let’s first choose our giveaway winners congratulations to all of the winners thanks guys a lot for taking part within the giveaway loads   of you guys gave nice suggestions on that final video and i actually respect it i additionally determined to be a part of   the giveaway by freely giving 11 random winners 10 price of ethereum so in case you discovered a random deposit   of 10 {dollars} of ethereum in your pockets then know that you just gained the giveaway thanks a lot   for everybody that participated within the giveaway and in addition thanks for all of the sponsors of the   giveaway please ensure to verify them out guys all of the hyperlinks can be within the descriptions under   to declare your reward all you want to do is simply electronic mail me a screenshot of your youtube account   and ensure that the e-mail is coming from that very same deal with that is displaying on the screenshot   after which after that i can go forward and discuss to the completely different sponsors and get the reward coming to   your method and we can be doing a giveaway each 10 000 subscribers so one other giveaway can be   arising very quickly keep tuned for that so now that we received the giveaway out of the best way we will   go forward and discuss eip 1599 in addition to ethereum 2.0 and whether or not gpu mining can be   viable for a very long time so eip1599 will lower out all of the transaction charges which might be added to the block   so in case you bear in mind earlier than we talked concerning the block and the way there is a base reward   of two ethereum after which all these transaction charges will add up and improve the block reward   now if that will get lower off then we all know that we’ll all the time be getting solely two ethereum per block   so we’ll by no means see three ethereum 5 ethereum and all these extra earnings that we often   see when the transactions are getting actually excessive that does suck it’s a unhealthy hit for gpu   miners which might be mining ethereum which is almost all of gpu miners so what we will count on is   that our profitability will drop with not less than 30 p.c because the common of a block reward   is three ethereum

so what you are able to do is you’ll be able to go to whattomind.com and you’ll go in particulars   with a mining calculator the place you’ll be able to set your individual block measurement and after that in case you put in your   hash price and every part like this you will notice your profitability after the eip implementation   and to do that each one you want to do is simply put to ethereum as for the block reward and that method   you’ll be able to know what to count on when that point comes the rationale that they’re trying to implement the   aip 1599 and burn the transaction charges as an alternative of giving them to miners is as a result of they suppose   it is higher for the ethereum value and that it could be higher towards inflation like that by   lowering the quantity of ethereum that is circulating however on the similar time bit velocity tripping factors out   actually good factors relating to this subject and exhibits his opinion on the value motion that   it will not be impacted as a lot by them burning the charges as an alternative of giving them to the miners who’re   securing the community so i do advocate testing bitspeed’s tripping video on this subject he   does clarify it rather well so i am going to depart the hyperlink for it within the descriptions under and what additionally you   can do is there is a twitter ballot the place you’ll be able to vote whether or not you are towards or with the eip 1599   so i like to recommend going forward and voting towards it so perhaps that they won’t implement it afterward   it’s price attempting so i do not see why not and now the very last thing i need to discuss is ethereum   2.0 it’s talked about that it is going to be going to proof-of-stake as an alternative of proof-of-work so   earlier than we point out that proof-of-stake is you maintain some cryptocurrency such as you’re a shareholder and   then from there primarily based on how a lot you personal you will find a way to validate transactions and receives a commission  

though the income from proof-of-stake is just not as a lot as mining in any respect however both method as soon as ethereum   reaches that time i do nonetheless suppose there may be going to be a very long time till it reaches there   not less than a yr for us miners to find a way to mine with gpus or much more i get a number of   questions on it truthfully like i mentioned i do not know what is going to occur sooner or later we simply know   that there is a risk of ethereum transferring out of proof of labor after which we even have the   risk of dropping the transaction charges so we could have two issues that we want to fear   about but when your electrical energy costs are pretty good and ethereum stays at this value proper now   which is above a thousand {dollars} then the earnings will stay respectable till it strikes totally to proof   of stake and that may take one to three years in order that can be it for the video guys on this video   we talked about a number of completely different subjects and we did not actually dive into particulars about them   so what i need to do is i need to make an inventory of movies that i’ll go extra into particulars about   and certainly one of them would be the mining swimming pools and the way they work after which additionally solo mining versus   pool mining and the way to use completely different mining softwares and each sort of mining rig defined   in particulars and in case you guys additionally need me to make a video diving into particulars about gpu mining after   ethereum 2.

equivalent to gpu rigs a6 fpgas and so on the   mining {hardware} solves randomly generated complicated puzzles utilizing electrical energy and computational energy   and you then’ll get compensated as soon as you discover the appropriate resolution whereas proof of stake is in   a method being a shareholder so it is proudly owning a sure variety of sure cryptocurrency   to then find a way to launch a node and that can be validating transactions and minting new cash out   of the blocks often these nodes want a minimal variety of cash to create one in some eventualities   your cash are locked out and you’ll’t transfer them round however there’s additionally comfortable staking which is extra   versatile fpc wants to be on 24 7 to preserve your node on-line however it may be any laptop so long as it is up 24   7 with a secure web connection there may be extra to staking than what we have talked about right here however i   really feel like it could want its personal video to be totally coated so now let’s get again to the primary focus of   nearly all of miners and newcomers that come to this channel for and that’s proof of labor   proof of labor has way more to it there are a lot of completely different algorithms that cryptocurrencies fall   underneath algorithms are principally completely different arenas of puzzles so some mining {hardware} can excel higher   at sure cash with sure algorithms greater than different cash the measurement on your mining   energy is your hash price the hash is taken into account the answer try to the puzzle so in case your   hash price is 30 mega hash you then’re doing 30 million resolution makes an attempt a second there’s a   lot extra complexity to it relating to to fixing the block and such however i do not need to get too   technical on this video i simply need you to have an thought however i’ll depart a hyperlink within the   descriptions under for an article that explains it rather well now like i discussed earlier than there are   various kinds of mining rigs so let’s go forward and undergo these various kinds of rigs and   clarify them briefly first now we have the a6 a6 are often known as utility particular built-in circuits   and they’re largely used to mine sure cash with a excessive output of computational energy as   nicely as a excessive electrical consumption now by mining a selected coin i imply that in case you purchase for instance   an s19 it offers a computational energy of 110 terahash and consumes 3 250 watts however it will possibly solely   mine cash that use the shot 256 algorithm equivalent to bitcoin with such immense hash price your earnings   will nonetheless appear low due to the community issue which we’ll clarify afterward within the part for   what impacts your mining earnings after which the second sort of mining charges now we have the fpgas   fpgas are principally what’s in between the a6 and the gpu miners so that they’re made for a handful of   algorithms they cannot mine each coin however a few of them can they usually’re very related to gpus however they   are extra environment friendly and extra worthwhile to some extent however they will additionally get very very costly   i personally haven’t any expertise in any respect with any fpgas so someday we’ll in all probability do a video   overlaying them intimately after which the third factor now we have are the gpu miners and that is   what this channel is primarily about so in gpu mining use graphic playing cards to find a way to get extra   computational energy so the extra and higher gpus that you’ve the extra mining energy you will have   and this selection is probably the most residential pleasant as a result of asic miners do produce a number of warmth   and noise whereas fpga miners are very related to gpu miners so these two choices are residential   pleasant in a method i’ve not too long ago launched a full shopping for information for gpu mining rigs the hyperlink   can be within the descriptions under and we additionally had a giveaway in that video and the winners of that   giveaway can be chosen on this video and there are completely different sort of mining equivalent to usb mining   cpu mining in addition to storage mining the place you’ll be able to mine along with your laborious drive however all of those would   in all probability require their very own particular person video since there may be a number of data to cowl on them so   hopefully within the close to future i’ll have a video on each sort of mining rig so to get   extra data relating to to these subjects now that we wrapped up the completely different sort of mining   rigs we will go forward and transfer on to the completely different sort of mining providers in order for mining providers   what i imply by that’s cloud mining internet hosting in addition to gpu rental or shopping for pre-built rigs so   i am simply going to offer you my opinion on them this isn’t a monetary recommendation nevertheless it’s simply my opinion   on these platforms and perhaps you’ll be able to profit from it so the very first thing i need to begin off with is   cloud mining cloud mining to probably the most half it is often unreliable there are a lot of eventualities that   individuals get handed the unhealthy finish of a stick in cloud mining since your cash goes to a third-party   providers that ought to be supplying you with hash energy in return however you by no means know when these providers   will shut on you or depart there’s a number of ones which might be scammy so they might take your cash and   promise you a sure return equivalent to 10 a month or such however you then’ll by no means get your a reimbursement   you are in all probability going to be requested to pay extra to find a way to withdraw your funds and you then’ll   by no means find a way to withdraw them both method whether or not you pay or not so simply watch out with these   providers for cloud mining most of them are scams i truthfully would not use a service for cloud mining   it is higher to simply construct your individual rig after which there’s additionally internet hosting internet hosting may be helpful in case your   electrical energy may be very costly so for instance i’ve seen a number of feedback from germany they usually’re   all discuss how costly the electrical energy is which is insane it is about 25 cents and above   so in that case mining cryptocurrency is usually a little bit powerful for you in case you have to pay the   electrical energy invoice it will possibly get actually hefty so what you will want to search for is anyone credible or   anyone that you just belief that may host for you and what meaning is that you’re going to principally   have your rigs run at somebody’s else’s place so if anyone for instance in us or canada   they usually have a reasonably respectable electrical value you’ll be able to have your rig constructed there by the particular person or   ship them the rig whichever method is snug for you after which from there you will have your   rig working there by overlaying your individual electrical energy prices in addition to giving the individual that’s internet hosting   it for you a bit of little bit of fee now as for what providers can you employ for internet hosting i truthfully   do not know myself there aren’t many on the market however i might simply go searching and take a look at to discover a   pal or member of the family that you could belief as a result of that’s way more dependable than placing your rigs   with anyone else that you do not know after which the very last thing is shopping for pre-built rigs   so typically individuals would need to purchase only a rig that is pre-built and prepared to go plug and play   simply to lower your expenses and to keep away from the effort of getting to construct it your self however truthfully my   tip to you is to work out how to do it your self as a result of you can be in such a tough time afterward   in case you get one which’s pre-built we could say that you just did purchase a pre-built rig after which ultimately   you run throughout a problem or instability issues and your rig begins appearing up if you do not know   the way it’s constructed and you do not know the way it works you can be investing much more time attempting to determine   out what the issue is a few pre-built rigs that you could purchase off of individuals would possibly give you help   or service however nonetheless i truthfully advocate you to keep away from that however in case you’re an enormous investor and   you are trying to construct out an enormous farm then perhaps you’ll be able to look into hiring an individual or two to do it   for you after which that can be a greater possibility now that wraps up the forms of mining providers in case you   have any questions let me know within the feedback under these are all simply my opinions nothing is   for certain however i am simply letting via my expertise and thru seeing different individuals’s   experiences so now let’s get to the necessary components what impacts your mining earnings what makes   you make more cash what makes you lose cash and all that stuff the very first thing about your mining   earnings is understanding what crypto coin it’s best to mine now relying on what you are utilizing whether or not   it is asics fpgas or gpus you will have a special coin of your individual to decide and mine however for this   video we’re going to give attention to gpu mining since that is the first class for this channel   so to know what cryptocurrency you ought to be mining along with your gpus that is dependent upon what gpu   you will have so there may be this factor known as the dag file the dac file is principally an information set that is   saved on the vrams of the gpu and these knowledge units measurement will increase over time so meaning some gpus   for instance the 4 gigabyte playing cards cannot mine ethereum anymore as a result of the dac measurement is bigger   than 4 gigabytes although you’ll be able to nonetheless do them with zombie mode on however your hash price will   be drastically decrease so that is the significance of the dag file that is why it is advisable to   purchase gpus with six gigabyte vram or extra to mine ethereum ethereum is probably the most worthwhile coin for   all gpu miners on the time of this add however then as a number of you guys know ethereum can be transferring   to proof of stake they usually had been additionally going to be eliminating the mining charges that us miners get   paid however earlier than i offer you my opinion on that information let me first clarify to you what impacts   your earnings so that you perceive why it is a massive deal so the best way that your earnings improve or lower   is dependent upon three various factors to whichever coin you are mining to clarify the three components i   can be utilizing ethereum for example so now let’s return to the block from earlier the block is   what will get mined by your {hardware} and that block has a base reward of two ethereum so to illustrate   10 individuals with equal energy in a mining pool find yourself mining that block and discovering the appropriate resolution   that signifies that two ethereum can be divided equally between all of them since they’ve the   similar quantity of energy however in case you’re a solo miner and you bought fortunate and you then resolve the block   all of the incentives will come to you straight so the 2 ethereum can be solely yours however then with   photo voltaic mining your chances are high a lot decrease as a result of the extra hash price you will have the upper probabilities for   you to resolve a block is and evaluating your hashtag to a mining pool then that would depart you at a   very slim probabilities to find a way to resolve the block in some eventualities solo mining may be good however in most   eventualities pool mining is the best way to go for secure incentives so now that the bottom reward of a block   is to ethereum you additionally want to add to it all of the transaction charges which might be inside that block so   to illustrate i might ship ethereum to somebody i might pay a small charge for that transaction to go there   that charge goes to the miner so now to illustrate there may be 10 000 transactions that occurred or   10 million all these small charges would find yourself being on this block which will increase their block reward   in order that two ethereum base reward can be there that is the 2 ethereums which might be going to be   launched to the community so these are the cash which might be really mined the brand new cash   after which there’s the transaction charges these transaction charges will simply improve the block   reward after which it is the identical idea all people that solved it with the quantity of energy that   they’ve they may get the incentives in accordance to how a lot effort they put into that block so   typically you’ll be able to see blocks with 3 ethereum 5 ethereum 10 ethereum all of it is dependent upon the   quantity within the community so the extra transactions occurring within the community the extra you receives a commission   however typically we do not see excessive numbers that a lot often it is round three ethereum for ethereum   for a block reward and that itself is admittedly good now there’s additionally yet one more factor that impacts block   rewards and that is having halfing does not occur on ethereum nevertheless it’s principally what cuts down   the bottom block reward by half so this occurs on bitcoin each 4 years each 4 years   bitcoin will lower its block reward by half which makes mining the remainder of the coin more durable which in   return will increase shortage and that is often good for the value now talking about value that’s one   of the necessary components on your profitability so if ethereum’s value goes up your profitability   of mining ethereum goes up as nicely and that works for each different coin as a result of if you’re   mining you are getting paid with that ethereum so in case you’re getting paid for instance level   a month and ethereum is at a thousand {dollars} you then’re getting paid 100 {dollars} a month for   mining however then if ethereum drops its value to 5 hundred {dollars} and you are still getting paid   0.1 ethereum a month you then’re solely going to be getting 50 the value cannot be taken   as a right as a result of all of it is dependent upon if you determine to money it out so for instance if   you are mining ethereum all through the month and all through the month the value of ethereum was   excessive above a thousand {dollars} however then the day that you really want to money it out ethereum value drops   meaning the value actually did not have any impact there apart from taking your earnings down   as a result of the value went down the second you wished to take your cash out that is why you want to be   cautious with promoting your cryptocurrency and discovering the appropriate time to promote them   now the very last thing that impacts your profitability that’s the issue of the community   and to clarify that the easiest way potential i really feel prefer it’s finest to use a metaphor so let’s consider   the block reward as a bit of snack bar that you’ve and also you even have your pals round and   since you are a beneficiant particular person you are going to share it with them so you’d typically share   this between all your pals equally they usually all get a share of that sweet bar however now let’s   say you will have one other sweet bar after which you will have extra buddies came visiting so that you’d need to share that   similar sweet bar via extra individuals so that you’d have to break it into smaller items that goes the identical   method to the block reward so when extra miners come to the community the issue will increase as a result of   the whole hash price will increase meaning all people that is consuming from the identical plate could have only a   smaller portion and in some eventualities issue would lower when the value of ethereum goes   down and in these occasions you would be mining extra ethereum however the value of ethereum is decrease   so your earnings will look decrease so that is what issue does it principally simply adjustments how a lot   you get from mining and now including that to the 2 different components that are the transaction charges   and the value of the cryptocurrency that offers us the three components that influence your mining earnings   i hope it was all clear to perceive in case you guys have any additional questions let me know within the   feedback under now earlier than i discuss ethereum 2.0 and what’s occurring with the miner charges being   taken off with the brand new eip implementation let’s first choose our giveaway winners congratulations to all of the winners thanks guys a lot for taking part within the giveaway loads   of you guys gave nice suggestions on that final video and i actually respect it i additionally determined to be a part of   the giveaway by freely giving 11 random winners 10 price of ethereum so in case you discovered a random deposit   of 10 {dollars} of ethereum in your pockets then know that you just gained the giveaway thanks a lot   for everybody that participated within the giveaway and in addition thanks for all of the sponsors of the   giveaway please ensure to verify them out guys all of the hyperlinks can be within the descriptions under   to declare your reward all you want to do is simply electronic mail me a screenshot of your youtube account   and ensure that the e-mail is coming from that very same deal with that is displaying on the screenshot   after which after that i can go forward and discuss to the completely different sponsors and get the reward coming to   your method and we can be doing a giveaway each 10 000 subscribers so one other giveaway can be   arising very quickly keep tuned for that so now that we received the giveaway out of the best way we will   go forward and discuss eip 1599 in addition to ethereum 2.0 and whether or not gpu mining can be   viable for a very long time so eip1599 will lower out all of the transaction charges which might be added to the block   so in case you bear in mind earlier than we talked concerning the block and the way there is a base reward   of two ethereum after which all these transaction charges will add up and improve the block reward   now if that will get lower off then we all know that we’ll all the time be getting solely two ethereum per block   so we’ll by no means see three ethereum 5 ethereum and all these extra earnings that we often   see when the transactions are getting actually excessive that does suck it’s a unhealthy hit for gpu   miners which might be mining ethereum which is almost all of gpu miners so what we will count on is   that our profitability will drop with not less than 30 p.c because the common of a block reward   is three ethereum so what you are able to do is you’ll be able to go to whattomind.com and you’ll go in particulars   with a mining calculator the place you’ll be able to set your individual block measurement and after that in case you put in your   hash price and every part like this you will notice your profitability after the eip implementation   and to do that each one you want to do is simply put to ethereum as for the block reward and that method   you’ll be able to know what to count on when that point comes the rationale that they’re trying to implement the   aip 1599 and burn the transaction charges as an alternative of giving them to miners is as a result of they suppose   it is higher for the ethereum value and that it could be higher towards inflation like that by   lowering the quantity of ethereum that is circulating however on the similar time bit velocity tripping factors out   actually good factors relating to this subject and exhibits his opinion on the value motion that   it will not be impacted as a lot by them burning the charges as an alternative of giving them to the miners who’re   securing the community so i do advocate testing bitspeed’s tripping video on this subject he   does clarify it rather well so i am going to depart the hyperlink for it within the descriptions under and what additionally you   can do is there is a twitter ballot the place you’ll be able to vote whether or not you are towards or with the eip 1599   so i like to recommend going forward and voting towards it so perhaps that they won’t implement it afterward   it’s price attempting so i do not see why not and now the very last thing i need to discuss is ethereum