How can I make money with Ethereum

Instructions: Ethereum mining made easy

Only two programs are required for mining: Geth to synchronize with the Ethereum network and Ethminer to mine the Ethereum.

First download the current Geth version from Ethereum.org and install it. By default, Geth installs itself in

Now start the Windows command line (Windows key, cmd, Enter) and switch to the Geth directory. In our case with the command "cd programs \ Geth".

With the command

create an account in which your Ethereum units end up. Geth will then ask for a password to secure the Ethereum account. This password should be sufficiently complex. IMPORTANT: Write this password on a piece of paper and keep it safe. Without this password, you cannot access your Ethereum units. Geth then spits out her account address in curly brackets - this is where the mined Ethereum ends up. For example, save the address in a text file.

Now Geth still has to synchronize with the Ethereum network - and first download the entire Ethereum blockchain. To do this, enter the following command:

This process takes quite a while, in our case it was around four hours.

You can monitor the progress via a second Geth instance: To do this, start the program in a second command line window with the command "geth attach" and then enter "eth.syncing" - geth then shows the already synchronized (currentBlock) and those still to be synchronized Blocks at (highestBlock).

Only when Geth is fully synchronized with the blockchain can you start mining.

Good luck for!

Now download the ethminer mining software - we used the ethminer-0.9.41-genoil-1.1.7 package for this, which you can find on Github. If you get ethminer from another source, make sure that the respective version also explicitly brings GPU mining support with it.

Then extract the ethminer into any directory. Finally, you use parameters to get ethminer to mine. "-G" uses the GPU, "-M" the CPU - the latter is only suitable for short test runs. IMPORTANT: With multi-GPU systems, it is essential to resolve the Crossfire or SLI network in the graphics driver.

We had to experiment with our dual RX480 system for a while before we found the right parameters. It finally worked out:

Then ethminer pulls the required data, fills the graphics card memory and starts the digging process.

"--opencl-platform 0" uses all OpenCL graphics cards for computing. Alternatively, you could also instruct the individual cards separately with the command "--opencl-devices 0,1", but this did not work in our case (error message: No GPU device with sufficient memory was found. Can't GPU mine. Remove the -G argument)

In the pool instead of alone

Since the prospect of successfully mining an Ethereum unit is comparatively low with local mining, you should join one of the numerous pools. Pools are computational networks in which many individual rigs add up to find Ethereum units. Found units then distribute pools proportionally to the members. They charge low fees for this and only transfer the shares when a certain volume is exceeded.

We have joined the Nanopool as a test, which does not require registration and offers website statistics when you enter your own address (see Geth). To do this, you have to tell ethminer the server when it starts, it has your own address and an e-mail.

This works with the following command:

(mfi)