What is Ethereum Mining? (Singapore)
Ethereum Mining
A typical mining computer can easily do 20–30MH while we feel that the best return for your investment is in a mining that does about 188MH As of June 1st a computer doing 188MH will earn you average of $500USD per month. Such a computer can be made for $6800 SGD — 6 x 1070 GPU Mining rig.
The price is likely to explode, with most experts saying it will be well over $500 by the end of the year 2017.
With more experts predicting it to go above $1000 and $2000.
https://cointelegraph.com/news/ethereum-price-can-reach-2000-if-this-happens
The best part is that these miner machines are also high end, high quality gaming class computers, these computers do not lose their value quickly. You own the hardware, and can sell it whenever you need to for almost what you pay for it.
We have built many of these computers in the last few months, we have found out what works, and what does not work. We have taken all the guess work out of building a system and made it easy for anyone to become an Ethereum miner. You do not need to make a miner a dedicated computer, the mining happens only on the video card leaving the CPU to idle. This means that you can use the computers at the same time, at my office and my home we are replacing or upgrading all of our computers to miners. We have mining machines that are built like a normal pc as u can see on our website http://www.cryptocurrencyminingrigs.info/
You can waste tons of money finding out how to mine, and in many cases never get there. We have done all of the hard work and came up with rock solid designs. These come preloaded with all the software you need to mine, and we will even test it and mine for at least a day before we ship/deliver it to you. Our rigs are built to use only 65–70 percent power and still mine at maximum speeds thus making it very profitable to mine in Singapore. Everything will be set up and ready to go, all you need to do is turn it on and hook it up to the internet and the power socket.
We are selling computers in 4 different levels. Please do the math to figure possible returns.
· BASIC — We have a limited supply of basic used computers that can have enough cooling and power to run 2 x GTX 1060 6GB (mining edition cards). We will guarantee 50MH. It comes with 4GB RAM and a 120GB SSD Hard Drive, on a nice 3.5GHZ CPU. These sell for $2900 SGD each.
You will earn about $200 SGD/Month
· Medium — These are bigger computers, with 3 x GTX 1060 6gb (mining edition cards). We will guarantee 75MH. They also come with 4GB RAM and 120GB SSD Hard Drive, on a nice 3.5GHZ CPU. These sell for $3500 SGD each.
You will earn about $300 SGD/Month
· Medium High — These are bigger computers, with 3 x GTX 1070 8 GB. We will guarantee 90MH. They also come with 4GB RAM and 120GB SSD Hard Drive, on a nice 3.5GHZ CPU. These sell for $4500 SGD each.
You will earn about $350 SGD/Month
We suggest that you leave these machines as dedicated for mining if you are in this to earn money.
If you only have one rig, a normal home fan would be sufficient or just leave the windows open it is not that hot. It only starts to get hot if you get multiple rigs and more than 1 fan would be needed.
Here are some good reasons to mine Ethereum:
· Mining can be a great way to subsidize the purchase of a new, high end GPU (or two or three…).
· As Ethereum is easily traded for bitcoins (BTC), it’s a cheap way to slowly build up a hodling position in Bitcoin. Many influential people are very bullish on Bitcoin’s prospects for 2016 and later.
· BTC can be easily sold for cash so, indirectly, mining ETH can be a good way to fill up your bank account or earn cash. ETH can also be sold directly on several major exchanges, such as Bitfinex, BTC-e, Kraken, Gemini and Coinbase.
· Mining can be a cheap entry ticket to the Ethereum markets, loved by traders for their high volatility. If you’re a good and / or lucky trader, you can maximize your profits.
· Building a large ETH position now, in the Proof of Work mining phase, will enable you to earn interest on your holdings if / when Ethereum switches to a Proof of Stake
· If you believe in the Ethereum concept (despite the failure of the DAO and doubts regarding the viability of Ethereum’s approach), you can support and gain voice in the Ethereum network through mining.
WHAT IS PROOF OF STAKE (POS) AND WHY DOES IT MATTER?
For now Ethereum is working on Proof Of Work system (mining) and would slowly be upgrading to Proof Of Stake (POS) in the future.
Proof Of Work, means currently using graphics cards to do mathematical calculations for the network to solve a block for the etheruem network.
Proof-of-Stake, doesn’t require miners to do useless math in a race to solve a block. Rather, the creator of each new block on the chain is chosen by an algorithm, based on the amount of of ether that the user has — or, stake. The larger your stake, the more likely you are to be chosen to validate a new block. Under PoS, there is no longer a reward for creating a new block. Rather, the user responsible for creating the new block — called a forager — is rewarded with the gas associated with that block. The more etheruem you hold the more GAS you would be rewarded. Gas is similar to dividends that you are getting from current stocks that you hold.
PoS will also drastically reduce the amount of electricity required to perform a transaction on the blockchain. The PoS model is a more green, sustainable alternative.
What happens to mining when POS happens
When POS happens, it is a gradual change it would not be instant so there is still time to mine etheruem at least for another year or more. Once POS hits you will be wishing that you have more ethereum coins because the price of etheruem would already be more than 500USD
There are many other currencies to mine and still be profitable. The beauty about the mining machines we sell is that we can switch to any currency that we want at any time. There are more than 50 different currencies for mining. Eg (ethereum classic, zencash,zcash,hush coin) these are the few coins that would forever be minable and would payout almost the same as mining ethereum.
Any rigs bought from us we would definitely give continuous support and also advise on when to sell and what is good to mine after ethereum.
We are one of the only few that owns an Etheruem mining farm in Singapore and Indonesia. All our mining rigs are covered by local Singapore warranty.
Do contact us here to book an appointment to take a look — http://www.cryptocurrencyminingrigs.info/
You can check out the list of currencies able to be mined here:
FAQ — Frequently Asked Questions
Q: I can’t seem to find any good GPU’s for sale — can I just try out one of these Cloud Mining sites I’m seeing?
A: 99.9% of Cloud Mining sites are Ponzi schemes or fractional reserve Ponzi’s. Even though there are a few that have been around a long time, there have been no 3rd party audits of the hashing power sold and profits are usually very low unless you are promoting heavily and getting others to join in (another red flag of ponzi related activity). Short Answer — Our advice is DO NOT buy into Ethereum Cloud Mining sites or related Deposit Investment/HYIP programs.
Q: Why should I mine Ethereum tokens (aka ether or ETH)? doesn’t mining Ether take up a lot of electricity?
A: If done properly, more money is earned by selling mined ETH than is spent on electricity. In other words, it’s profitable! You can check out the profitability with our Ethereum mining calculator. We have also specially tweaked all our mining rigs to use only 65–70% Power. We also have an energy saving device available as a free gift.