Mining bitcoin vs ethereum reddit

Last UpdatedMarch 5, 2024

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Mining bitcoin, easiest way to get it to ETH, no KYC When mining bitcoin, whats the best way to swap it to eth, would like to do it without KYC, and ideally make it automatic. With the upcoming projects from the big players in the market, most forecasts are saying a double in hash rate by the end of 2022 (~7-8% increase / month). I would say that the part of the "money" value you get is not really significative. My pool says 0. 44 votes, 13 comments. And no that Galaxy Digital PR piece they chucked together within 24 hours of Musk throwing a tizzy about Feb 4, 2022 · This isn’t just true of newcomers, either. The only 2 algorithms that Nicehash was switching between was Ethereum's and Zcash anyway, and mining either of those 2 directly using a pool yields better results (well, it's not actually THAT much more, so props to Nicehash for maximizing how much they pay, but the main benefit is not being paid in Bitcoin which has super high fee's). The answer is Etherium. Let’s see what all the fuss is about. My bet is that if Ethereum gains acceptance, its network will be used for functions that . So it's a trade off, you want one click mining for less money or spend a minute editing command line switches, pick a coin to mine, pick a pool then to do your own mining. Fees scale with how much computation is being executed, not how much money is being handled. Variance: 72. The bottom line here is to rent a mining rig that'll allow you to mine any coin. Litecoin generally has lower fees, while Ethereum’s “gas fees” can vary significantly. 4%. A 10x for ETH is only like 40K. The April 2024 Bitcoin Halving is the most important date in Bitcoin's 15 year history, second only to the Genesis block on 3 January 2009. If you want ETH, then go ETH. Jul 21, 2021 · Ethereum can also be used as a means of payment and is arguably better than BTC for that purpose. 9% fee. This paper, while I have some minor quibbles with it, provides a reasonably comprehensive model of PoW security which both describes the optimal strategy of an attacker trying to unconfirm a transaction (encompassing selfish mining attacks, eclipse attacks, stale Mar 6, 2024 · In the past year, Bitcoin prices are up 195% compared to a 140% gain for Ether. • Both are open source, peer-to-peer networks. Is Ethereum or Ethereum Classic better for daily mining profit right now? Based on some online calculators ETC should be better, but ETH has much more active miners. Currently, Bitcoin's value ranges between $30K and $35K. Ethereum fees have tended to be higher than those for Bitcoin. Again keep researching. 96%. This is at least realistic. Ethereum generally starts pumping much later than bitcoin but because of its lower mcap it has much more room to grow. bitcoin is the king ethereum is just a noise and can be caught up by other platforms. Mining Monero early on won't do much if you're looking for short term profit. Litecoin: Key Similarities and Differences. This argument has just split groups - with Monero folks hating Bitcoiners, and many bitcoiners thinking it is superior form of money due to its existing network effect and it cannot be beaten. Here you can discuss… Analyst Nebraskangooner predicts Ethereum's significant breakout, potentially reaching new highs, especially with the upcoming Bitcoin Halving event that influences market sentiment. It uses ravencoin’s algo. BTC >>>>>> ETH. This equates to approximately $1050-$1100 in the 6 month period. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Don't blow life savings on this rn. HBAR = 10,000 transactions per second. Lastly, convert the coin you mine to the one you want to HODL. Ethereum’s average block time is 13 seconds, leading to more frequent block confirmations. It's purely supply and demand. You say you the government could print money to buy ETH buy ignore that they also have the resources to buy or manufacture ASICS. I have to admit it sucked. Not to mention from an investment standpoint. I entered the crypto world a couple of months back and I started using ethereum instead of Bitcoin to make my purchases. Mining Just ethereum, I am expected to get $5. Ethereum doesn’t do any Marketing just like Tezos barely does. 29 per day which equates to approximately $950. Jul 21, 2022 · Bitcoin (BTC) and Ethereum (ETH) are the Coke and Pepsi of cryptocurrency. Variance: 85. ETH so keep that in mind. Ethashpool —. The next halving. 00 / coin IMHO. However, today ethereum withdrawals were down in my eth purchase site and I had to use bitcoin for the first time. Bitcoin only did $9k to 69k, only about 7x. You can also do an infinite number of other things. There’s also the consideration that for mining eth you don’t need to give anyone any information about you and that you don’t need to rely on a nicehash (it Try comparing crypto mining to the global financial systems Most competent estimates of the global financial system put the consumption at ~100 TWh, or slightly under, meanwhile bitcoin dwarves that and Ethereum likely isn't far behind. It has a high hash rate of 110 TH/s and a power consumption of 3300W The best GPU miner will depend on the specific cryptocurrency that you are looking to mine, as different cryptocurrencies have different requirements and Mar 22, 2022 · Bitcoin can be stored, sent, and spent just like any other form of currency (with limitations), and it can now be used to buy many things from a coffee at Starbucks® to a mansion. As such, it is more resistant to wild inflation and corrupt banks. One "adjustment" force tries to change the difficulty up or down so that it stays on average on 15s per block. However, historically, it has been quite volatile: In 2009, the bitcoin software was made available to the public for the very first time. Crypto Partially. now, that's dark Sep 15, 2022 · Ethereum is the second-most valuable cryptocurrency after Bitcoin. Ethermine —. Just had a thought, how awesome would the future be where, we write farmer bots that crawl the blockchain finding contracts that need 'prodding' an if they implement a common or evolving api can be seen as a service in the commons of blockchain entities. However 3gb gpu are not capable of mining ethereum When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. If you want to get other coins, nicehash is a good opportunity. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. Imagine that there are two "forces" acting on the difficulty. 93K subscribers in the BitcoinMining community. If you're playing it careful, get a single good gpu and just wait out the eth 2. Welcome to /r/EthTrader, a 100% community driven sub. 50-$8 a Day. Building a GPU rig can be a lot of fun, but it’s not cheap. 0 impact. 125 BTC. In fact, if you need BTC it is really more effective to use nicehash. Usually you would be much better off by mining Ethereum directly onto an exchange such as Nicehash or Binance, and then exchanging the profits into your desired cryptocurrency. The profitability / electricity ratio is much lower mining XMR vs. 3M subscribers in the ethtrader community. Furthermore, this concentration of mining capacity is counter cyclical and varies with the Bitcoin price. Eth will no longer be proof of work at that point, and mining will never be possible again for Eth. But much more likely Yahoo. I think it will hit 20 Billion at about 4-5 Billion supply which will make the value top $4. With Ethereum you can also send bitcoin to someone else. Skip to main content. Plenty of videos on how to directly mine Eth on YouTube. It results in less censorship-resistance, thus less Bitcoin isn’t mined on GPUs anymore, it’s all ASICs now. Crypto Keep in mind as soon as Ethereum becomes close to the same profitability of Monero (or any other coin for that matter) - other people will switch too. This gap is the largest that has ever occurred since the launch of Ethereum in 2015. At the core level the main difference between Bitcoin and Ethereum is; Bitcoin is a store of value and Ethereum is a network that runs applications and smart contracts. Vitalik Buterin on Bitcoin vs Ethereum. It isn't about Monero being better than Bitcoin. Bitcoin will find a nice bounce, pulling some alts with it as well shortly after. 2. staking — and have different environmental footprints. There seems to be a strong correlation with price, in my observation. Right now AIPG is very profitable on 3080’s. 4Billion staked. 89552579%. One way to predict what the price will do is to look at Google trends and see how much people are searching for each term. I'd like to talk about a rarely-discussed security problem of coins with a capped issuance, including Bitcoin. Its TPS is around 15, which is definitely higher than in Bitcoin, but unlike BTC, ETH was not designed for daily transactions. From a gains perspective I’d go ETH, with what you took out of LTC. But Etheriums networks/PoS and the amount of devs that work on the chain will cause it to eventually be better. It provides a decentralized virtual machine, the Ethereum Virtual Machine (EVM), that can execute peer-to-peer contracts using a crypto-fuel called Ether . In Addition to the staking rewards (of 16 Eth) + ~10% of the staking rewards of the other 16 ETH, a node also receives around 7% APY of the RPL collateral. In the case of Bitcoin and many other cryptocurrencies When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. The average person walks 3 miles per hour. Feb 16, 2023 · Bitcoin vs Ethereum: An Overview. = Bitcoin - 3 transactions per second. In 2010, it was valued for the very first time. Your research is off by a lot! The only reason ETH uses GPUs for mining is that they explicitly targeted GPUs as their mining platform and tuned their math to be resistant to other types of compute hardware. Fixed supply, while true no one alive today will live to see Bitcoin issuance stop (I mean Miners & Nodes may decide to just change that cap if fees are low enough. But a funny thing is happening in 2024. This increase is clearly diminishing your returns and depreciating your Business, Economics, and Finance. Both are fundamentally different from each other and hence it’s very important to know how they work. At a certain point they could also just manufacture ASICs themselves. I believe that Bitcoins adoption in El-Salvador will be the first of many countries (eventually ones with 6 days ago · When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. • Both cryptocurrencies can be purchased on most major exchanges. I believe that this method removes almost all risks. Jan 20, 2024 · Ethereum prices rose by 15. Aug 19, 2023 · Litecoin’s block generation time is approximately 2. General White Paper, Technical Yellow Paper (pdf) When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. no tech nothing but still compare price with all back year people lose only 50 percent of investment compare to 95 percent in other compare to btc. Eth mining is estimated to end in June 2022. Litecoin has a lower market value, having lingered around the 20th spot in rankings maintained by the research website CoinMarketCap. Bitcoin marketcap - 861b Ethereum market cap - 169b Ethereum network is worth 19. The average speed of a horse is 30 miles per hour. The greater the hash power on the network the greater the difficulty. Ethereum has 9. I am personally contradicted with Eth after EIP 1559 (burning Eth > giving miners Eth), Ethereum is a POW coin that hates/hated it's miners. Thank you very much in advance! Hello HobbyistHobbit! According to rocket pool at least 10% RPL are needed so 3. It’s also more expensive and less scalable than other models. Experienced traders recognise that Bitcoin, and the systems that it relies on, has been put through a great deal more stress-testing than many of the altcoins on offer. ASICS get cheaper the more you buy. 5-2 simple tx. As of December 2022, BTC held a market dominance of 40. 99 it will have a market cap $21,000,000,000 - $21 Billion (at full supply) . Ask questions or receive news about about mining… Bitcoin vs Ethereum Price Evolution. Instead, the primary use for ETH is so called gas, transaction and call fees for using the EVM. If you're hodling and betting XMR will increase in price rapidly, though, then yes it would be better! Mining directly to a pool, with SRB Miner and for Ethereum Classic (ETC) in my case, the same GPU gets shows $1. Mining rewards are paid out daily. From premise to Then mine only the coin that is most profitable for your setup. Bitcoin also surpassed Ethereum in several indicators. If mining bitcoin now is barely profitable for most, wait till the next halving, halves the rewards. If you just make a naive/unbiased algorithm, you end up where Bitcoin is, with dedicated hardware built for mining Bitcoin. Ethereum made much better gains in the last bull market. Ethereum's trading dynamics, supported by technical indicators like the Golden Cross and MACD, suggest a bullish trend. It's less secure, due to the fact mining tends towards big mining farms and it's very easy to find and coerce big mining farms. 04 per day. Yes, many of the tokens are on Base. This happened long before the creation of Bitcoin Cash. Ultimately, the drawback of Bitcoin’s PoW mechanism is that the network is very energy-intensive. Imagine a city that is full of life and has a lot to offer just like NYC. Probably dump all their bitcoin too. If bitcoin goes to 300k, ethereum will go to at least 15k. 7%. My general crypto investment is equal eth and btc, and low amounts at all the other altcoins showing promise. That’s because Bitcoin is constantly under the load, having tens, even hundreds of thousands transactions congested in its mempool (215k at the moment), which is simultaneously a good and bad thing, meaning that congested network This is a direct power consumption comparison between bitcoin mining and global banking. Throughout the centuries, people used horses as a means of transportation. Dogecoin is independent supportted by ledger. The average bicyclist moves at 12 to 15 miles per hour. The Bitcoin blockchain was designed to handle peer-to-peer transactions and keep records of ‘spend’ and ‘receive’ activities involving bitcoin. The coin itself is also performing very well. Most of the miner revenue gets sold on the market to pay for mining equipment/electricity. I made this point agea ago on Buttcoin. According to nicehash, I would get 1. Which currently would put it at #5 coin. I believe Ethereum could potentially overtake Bitcoin because of several reasons (software platform, NFTS, energy efficiency) but the only reason I am not entirely sure is because of the adoption of Bitcoin by other countries. They are the biggest names in crypto, and their combined market capitalization equals more than 60% of the $1 trillion Create a zil wallet, always be dual mining zil. Business, Economics, and Finance. So investing in hardware now, especially LHR GPUs is a bad move. I mine on NiceHash with my Nvidia cards and Monero mining on my ATI cards. As the number one and two biggest names in the market, they’re often compared against one another. For Pool: Go to your pools page. Setup. Cardano, though it has grown in 17 hours ago · This is an especially common argument among Ethereum haters because even they know this is true. Reply reply. In a three-year time frame, Ether prices are up about 147%, while Bitcoin prices are up about 36%. BTC holds value and will always be a standard. The official bitcoin mining forum / subreddit / chat room / place to be! 194K subscribers in the EtherMining community. Currently, BTC’s market share has surged to just under 50% of the total crypto market value Mining eth can be more profitable (nicehash might mine monero as well, but you can always do that manually) but with the current eth fees nicehash might be better if you want Bitcoin. This make it quite clear that Ethereum mining will significantly reduce r/Bitcoin • This is Bitcoin’s event horizon. Then pick your primary coin to mine. To choose the software start minerstat, click on Dashboard (the little screen with the lines) go to worker config and then look at this screenshot. those who sell predict the future and are sure mining will be dead (again) when ETH goes to PoS (which supposed to happen in 2022 Q1/Q2 and ETH won't be minable) - and they are sure that once mining is dead everyone will sell their rigs and prices on the GPUS will go down bananas, so they try to sell it now before the bitter end. Similar to Bitcoin, Ethereum employs Proof of Work (PoW) mining to power its blockchain. A blockchain is a a transparent, digital ledger of transactions. Such force can push difficulty up by a maximum of 1/2048th of the current difficulty (this happens when a block is found in less than 10 seconds), but it's able to pull the difficulty down by a maximum of 99 tldr; Ethereum has outperformed Bitcoin greatly in 2021, with an increase of 418% while that of Bitcoin is 66%. Nicehash Pro: Etheurum The opposite + you get ETH Cons specific to ETH. 0 rolls out, Ethereum mining will end at end of year or Q2 2022, After that, the future in mining is honestly a coin toss, because lots of factors are involved. Nicehash picks the most profitable coin and pays you in bitcoin, which you can change into Monero later. This was stated by an Ethereum dev. But if you don’t want it, you can use Unmineable or shudder nicehash to mine straight to eth or btc. Award. • Both currently use Proof of Work mining, but Ethereum may switch to Proof of Stake. Monero uses Crypto-Night, which is a memory-bound hash algorithm so it can only be GPU or CPU mined, although i'd recommend against CPU mining monero. Tons of people go there for the upside, opportunity, culture, fun etc. If we reduced miner revenue by 50%, we would still be overpaying by 200%. Bnb. Bitcoin was the first cryptocurrency ever to be created and 33% of stacks value is stacked vs less than 2% eth. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Stacks has 966Million stacked. Its about a year away from now unless the market skyrockets before that, it just wont be worth it for most miners anymore, they will shut down in mass. Currently trading at $3,627, Ethereum shows There's a higher chance that litecoin will jump 10x or fall 10x than Bitcoin. I just started mining ethereum last Feb 6, 2024 · From April 2024, the mining reward will be reduced by 50% to 3. Cloud mining. I wouldn’t suggest getting into mining now, unless PC building interests you as a hobby. Their developers are hoping that their economics work out as block rewards diminish, whereas the Ethereum developers appear to have thought the issue through more thoroughly - another reason why I find them to be so insightful. Its programmable money. So we’ll see maybe $30-$40k bitcoin rally but we won’t see $100k bitcoin for a few years. 14729ETH. My current fan setting for Monero mining (at home) is 45%, which keeps the GPU core temperature at cool 48-55'C, yet silent enough to hang on the wall in my living room. Bitcoin is based on blockchain technology. Now that ETH mining was completely neutered after the PoS and bitcoin mining requires more and more powerful GPU’s to run for Ethereum is a cutting edge blockchain-based distributed computing platform, featuring smart contract functionality. 2 Eth in RPL. Ethereum has consistently been the second-most valuable cryptocurrency in recent years, after Bitcoin. 1% (about 50miners) control close to 50% of mining capacity. Bitcoin simple transaction cost $4-6 right now which is 3 times more expensive than Ethereum's $1. The WhatsMiner M32 is an ASIC miner designed for mining SHA-256 based cryptocurrencies, such as Bitcoin and Bitcoin Cash. With that in mind and trying to stick to reality, if RVN hits $0. Yes, that probably means many of them are shitcoins or memecoins. 6% of Bitcoin network. The confirmation took ages to process, everything seemed more slow overall . When eth 2. One of the major reasons why Ethereum will surpass Bitcoin in terms of growth rate in 2022 is the surge in NFT sales. On the one hand, it seems profitable, with a minimum cost of investment. I know bitcoin is no longer profitable for the typical home user, does it still make sense to mine ether for the home user? If so, is the Mist wallet… 454K subscribers in the Finanzen community. Thus, Bitcoin is seen as a more reliable store of value. All the dapps are running on Ethereum. A Bitcoin and Ethereum comparison is basically comparing two blockchains – built for different purposes, but on the same backbone. By far the biggest difference between tcp/ip and ethereum is that in the 70s, you didn't have millions of idiots invest in the protocol and then shill it everywhere to make sure they weren't holding heavy bags. Under this model, any user who owns a minimum of 32 ETH could lock those funds To be clear, Ethereum has been far ahead of Bitcoin for a long time already in dollars of PoW security provided per unit of time. Dual mining will obviously draw more power so electricity costs should come into your calculations. If you already own a GPU, then sure go for it. 4. 2024 will still happen, therefore bitcoin halving will as well. 2X harder than gold. This argument is flawed, because if it were true, it would already have. An RTX 3090 would likely get you at least $7. Usually there is a start to mine page. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. 5 minutes, allowing for faster transaction processing. But the recession, which we will still be in, will rain on Bitcoin’s parade. Why does Unmineable seem to give better profit than direct miners like Nov 2, 2022 · Bitcoin and Ethereum are the Coca-Cola and Pepsi of the cryptocurrency space. 7% in December, ending the year at $2,353, representing a 91% gain for the year. My feeling is that price will go down, there is a whole economy mounted just in the mining, that included mining gains on ethereum and that will just disappear, there is a lot of uncertainty. 8. You can't "51% attack" Ethereum with just 51% like you can with bitcoin. Or Ether, or pretty much anything else. Huh, I have been operating under the belief that PoW was more secure than PoS rather than the other way around. 51 CAD per day per card. So the income is definitelly more than with a single 32 ETH node. However, the network is in the process of migrating towards Ethereum 2. Ethereum atleast acknowledges some issuance is needed to maintain network security) The entire point of Bitcoin is a fixed total supply (and no central banking). 0, at which time it plans to alter its consensus mechanism to an alternative called Proof of Stake (PoS). and endure the downsides, high cost of rent, tiny apartments, congested streets. More new tokens have been created in 2024 than in the entire period from inception in 2015-2023. However, PoW is considered the most secure and decentralized option. Established coins like Ethereum and Bitcoin also have the major advantage DISCUSSION. In other words, Ethereum might be Yahoo or it might be Amazon. How much do you have in ethereum? Aug 9, 2023 · Bitcoin and Ethereum are arguably the two most popular cryptocurrencies out there and have greatly contributed to the sector’s growth. Crypto Oct 26, 2020 · Ethereum vs. Over the time of test, Ethermine’s luck was close to 100% while 2Miners and Ethashpool had some very unlucky days with variance close to ~200% which was expected of smaller pools, but because of the lucky That's not to say that something technically superior couldn't come along and get a foothold, but its advantages would have to be significant for it to overtake Bitcoin in value - about as significant as the difference between fiat currencies and Bitcoin. Bitcoin mining capacity is highly concentrated and has been for the last five years. Please include what type of GPUs are you using and how is your daily earnings with it, IF possible. The top 10% of miners control 90% and just 0. Conclusion: Ethereum is currently overpaying for its security by over 400%. Fair point for now. From $200 to $4800, that's about a 24x. Also, you do not need to purchase additional equipment or waste valuable time. • Both have fast transaction times (faster than Bitcoin). If bitcoin replaced global banking it would use vastly more power. That is because you literally can't do anything with Stacks other than Stake. If you look at past %inctrease it is about 4. If you look back ASIC miners currently only work on CPU-bound hash algorithms and i think different ASIC miners work on different coins (so a litecoin miner won't work on bitcoin). End of use case. Open menu Open navigation Go to Reddit Home Sep 15, 2022 · Here are some key differences: Ethereum is more valuable. It costs $5 on average to send any amount of Ether, whether it's $1's worth or $1 million's. This will give higher profits when mining and will also use fewer fees altogether. When mining Ethereum I have to churn up the fans to 60-70% just to keep half decent core temperature. For coin: just select ETH. GPUs all stay within 45-50C. Total ETH Earnings: 0. I'm just using one of the compact low profile Noctuas and it keeps the CPU at 70C. Smart Contracts and DApps. But it leaves out that fact that global banking handles EXPONENTIALLY more capital and more transactions than bitcoin. 15721327ETH. This is what your page should look like. = Ethereum - 12+ transactions per second. 1%, while ETH’s share was 18. Mar 8, 2024 · Bitcoin and Ethereum are created through very different processes — mining vs. Discussion of mining the cryptocurrency Ethereum. With bitcoin you can send bitcoin to someone. Ethereum is both an ecosystem and an ecosystem of currencies. But this of course is not true due to difficulty increases. Fees are high because that's how much the market values Ethereum's limited blockspace. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. Most likely you have been mining an algorithm that is profitable with gpu and getting BTC in return using nice hash. 1. As the tokens succeed, so does the network. Total supply is better metric than value. On this day Bitcoin becomes the hardest asset in the world. In 2010, 10,000 BTC were sold for purchasing two pizzas Lol who has the money in these trying times. at wv rq nw uy pd yz un sd xr