Does internet speed matter in bitcoin mining

Subscriber Account active since. Ethereum is a digital platform that runs on blockchain technology. It's most commonly known for its smart contract functionality and native cryptocurrency, ether. The broader purpose of the Ethereum network is to enable decentralized apps dApps , such as marketplaces for nonfungible tokens NFTs.

We are searching data for your request:

Does internet speed matter in bitcoin mining

Databases of online projects:
Data from exhibitions and seminars:
Data from registers:
Wait the end of the search in all databases.
Upon completion, a link will appear to access the found materials.

WATCH RELATED VIDEO: Is Your Internet FAST Enough?

Your Destination for Crypto Mining

Ethereum Stack Exchange is a question and answer site for users of Ethereum, the decentralized application platform and smart contract enabled blockchain.

It only takes a minute to sign up. Connect and share knowledge within a single location that is structured and easy to search. How fast should be an internet connection to mine ethereum and don't have connection issues? What about ping? Note - my estimates below are based on the raw bytes received and transmitted by my Ethernet networking cards on my mining computers and will include other traffic travelling within my internal network.

It should be an over-estimate that will give you an upper limit. In the chart above, the daily traffic of 2. My ethminer mining software has mainly been mining solo, but sometimes is pointed to mining with a pool. In the monthly chart, the months of December to March would be representative of the Ethereum network traffic.

My monthly estimate from the charts above would be between 32 to 54 GiB downloads and between 25 and 91 GiB uploads, with the total transfers between 73 and GiB.

You should be OK if you have a graphic proccessing unit GPU and want to mine the Ethereum blockchain and have a reasonably fast Internet connection with a Gb download limit.

But keep track of your data usage and stop the processing if you are nearing your limits. When solo mining the blockchain, your geth software will require you to download a current copy of the blockchain before mining can start. This can amount to between 4 Gb using the geth --fast option to 14 Gb for the full blockchain geth without the --fast option. After the initial download of the Ethereum blockchain, your monthly data transfers may total between 73 to GiB.

You may be able to reduce this amount by limiting the number of peer connections your geth program connects to, using the --maxpeers command line parameter. You should well within your data transfer limits when pool mining the Ethereum blockchain. You will not need to download a copy of the blockchain as the blockchain is synchronised with the Ethereum network on the pool service's end.

The pool will only send you small sets of data for your ethminer to perform it's computation, and ethminer will send back status reports and successful computation results. And if you do decide to pool mine, try not to use the largest and larger pools as there is too much concentration of hash power in these pools, and this is not good for the Ethereum network.

You will find some of the pools listed at etherchain. As requested by gatb27, here is an update of my miner's network traffic. Note that my firewall reporting stopped sometime in October , so the charts only display the data until then.

Mining itself doesn't use that much bandwidth, however syncing the block chain does. For syncing the blockchain using the --fast option it used about 12Gb Initial sync and about mb the past 2 weeks.

Mining itself used exactly mb for the past 14 days. Sign up to join this community. The best answers are voted up and rise to the top. Stack Overflow for Teams — Collaborate and share knowledge with a private group. Create a free Team What is Teams? Learn more. How fast should be an internet connection to mine ETH? Ask Question. Asked 5 years, 9 months ago. Active 3 years, 11 months ago. Viewed k times. And, how many GB of data would get downloaded over a month period?

I have a GB limit. Improve this question. Clovis Clovis 4 4 gold badges 12 12 silver badges 20 20 bronze badges. Add a comment. Active Oldest Votes. My ping time to the pool I'm currently mining with is between - seconds in a short test. So You should be OK if you have a graphic proccessing unit GPU and want to mine the Ethereum blockchain and have a reasonably fast Internet connection with a Gb download limit.

Update Jan 31 As requested by gatb27, here is an update of my miner's network traffic. Improve this answer. Community Bot 1. Hi BokkyPooBah, thank for the explanation! Could you provide us with some updated data and maybe something about the light client implemented with Geth 1. Show 1 more comment. Jeth Jeth 1 1 silver badge 4 4 bronze badges. Interesting, are you mining on a --fast sync'ed client? Sign up or log in Sign up using Google.

Sign up using Facebook. Sign up using Email and Password. Post as a guest Name. Email Required, but never shown. The Overflow Blog. Psychological safety is critical for high-performing teams. Using synthetic data to power machine learning while protecting user privacy.

Featured on Meta. New post summary designs on site home pages and greatest hits now; everywhere Linked 3. Related 2. Hot Network Questions. Question feed. Ethereum Stack Exchange works best with JavaScript enabled. Accept all cookies Customize settings.

Here's how much electricity it takes to mine Bitcoin and why people are worried

The tools and information you need to buy, sell, trade, invest, and spend cryptocurrencies. Use your credit card, payment app, or bank account to buy Bitcoin, Bitcoin Cash, Ethereum, and other select cryptocurrencies. The full-service Bitcoin Wallet trusted by millions. Track your favorite coins and explore new listings on Bitcoin. Get a full suite of advanced trading tools at Bitcoin. Get round-the-clock updates, analysis, and insights on the news that matters most. Get up to speed on Bitcoin, Bitcoin Cash, and Ethereum with articles, guides, and step-by-step tutorials.

Block find time in Ethereum is very short: 13 seconds on average. Most cryptocurrencies have a longer block find time. In Bitcoin, a new block.

Crypto mining won’t survive another round of environmental legislation

For many cryptocurrency enthusiasts who hold Bitcoin, this is a difficult realization to face. Fortunately, there is a useful parallel, and it even bears the same name: coal mining. Coal is on its last legs as there are cleaner, cheaper, more efficient and more technologically advanced alternatives. Related: Carbon neutral bitcoin? Certainly, the coal is not flowing without a fight, backed by wealthy corporate lobbies and powerful politicians often receptive to generous campaign donations. Even so, if your financial adviser told you that he had a very good feeling about investing in coal, you would probably have a new financial adviser. For similar reasons, it might be time to come to terms with the fact that mining, from coal to crypto, may soon be a relic of the past. In Asia, Kazakhstan and Malaysia are stepping up their mining operations, as are Germany and Ireland in Europe and Iran in the Middle East, according to recent statistics. The effort to advance cryptocurrency mining creates some very strange geopolitical ties.

Crypto Mining: Definition and Function Explained

does internet speed matter in bitcoin mining

Quantum computers and the Bitcoin blockchain has been saved. Quantum computers and the Bitcoin blockchain has been removed. One of the most well-known applications of quantum computers is breaking the mathematical difficulty underlying most of currently used cryptography. Since Google announced that it achieved quantum supremacy there has been an increasing number of articles on the web predicting the demise of currently used cryptography in general, and Bitcoin in particular. The goal of this article is to present a balanced view regarding the risks that quantum computers pose to Bitcoin.

Ethereum Stack Exchange is a question and answer site for users of Ethereum, the decentralized application platform and smart contract enabled blockchain.

Frequently Asked Questions on Binance Pool

First, you need the Steam client installed and configured on your main gaming PC—make sure you have all the games you want to play downloaded. Steam recommends a wired internet connection for the best speeds and stability, but you can get away without one. You need to have the Enable Remote Play box checked, and further down the dialog you can give your main PC a recognizable name and configure various options via Advanced Host Options. You can choose whether or not audio should play on the host computer during gameplay, for example, and how hardware encoding is handled. Streaming to another computer—an older Windows machine, for example, or a Mac—is as simple as installing the Steam client again and signing in with the same username and password.

What Is Bitcoin Mining: How Does it Work, Proof of Work, Mining Hardware and More

Crypto projects use a variety of different hashing algorithms to create different types of hash code — think of them like random word generators where each algorithm is a different system for generating random words. Before new transactional data can be added to the next block in the chain, miners must compete using their machines to guess a number. Each time the nonce is changed, an entirely new hash is created. This is effectively like a lottery ticket system, where each new hash is a unique ticket with its own set of numbers. Each time that happens, a block reward of newly minted coins is given to the successful miner along with any fee payments attached to the transactions they store in the new block. For Bitcoin, block rewards are cut in half every , blocks or approximately every four years. As of , miners receive 6.

Internet Speed For Bitcoin Mining If you are solo mining, there is no bandwidth used except that used by the Bitcoin client, which is a trivial amount – much.

What is Bitcoin? Everything you need to know about the infamous cryptocurrency

Usually, people access sites of all types without properly protecting their identity. Even on anonymous tabs, your IP is still located. VPNs help mask your information, and they are used for many purposes that require genuine anonymity. Does your mining become safer by using a VPN?

Antminer S9 Bandwidth Requirements and Energy Usage

RELATED VIDEO: How Much Internet Bandwidth/Usage Does MY Mining Rig Use?

Seeing the news about cryptocurrency crypto and wondering what it all means? In this educational webinar replay, T. We're joined today by Penn Nugent, the Manager of Portfolio Strategy Group, to talk about the basics of cryptocurrency. We'll get started in just a moment because there's a lot of people still getting logged in. While everyone is signing in, I want to walk through a couple of housekeeping items with you. Today's webinar is being recorded, and a replay will be sent to you following the conference.

In exchange of mining operation, you can receive a monetary reward in the form of digital currency. These applications provide a detailed report based on your earnings.

How to Choose a Cryptocurrency Mining Pool

How can we help you? Account Functions. Binance Fan Token. Binance Earn. Binance Pool Tuturial. Crypto Derivatives. Other Topics.

Crypto Mining Won’t Survive Another Round Of Environmental Laws

Unrest in the central Asian country — the second-largest centre for mining of the cryptocurrency — led to an internet blackout. Bitcoin took a hit on Thursday after the internet in Kazakhstan was shut down amid intensifying violence. The central Asian nation in recent days has been rocked by violent clashes between protesters, police and the army.

Comments: 4
Thanks! Your comment will appear after verification.
Add a comment

  1. Reymundo

    I am final, I am sorry, but you could not paint little bit more in detail.

  2. Rang

    Something they haven't suffered from that argument.

  3. Fridolph

    it is necessary to be more modest

  4. Taujora

    This feature will not work in all industries.