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So I am very new to mining, and just recently picked up mining Ethereum rather than Bitcoin. I downloaded claymore miner, and created a wallet on MyEtherWallet.com. Everything seemed correct, I got my address "0x42A28a8f37749f56f00955b3186EC0534a913e04" from the wallet, and put it into the start_only_eth file. I began mining, getting around 20 Mh/s, which is good. However, my balances will not update in MyEtherWallet.com? How do I fix this, is there an obvious answer I am missing?

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Not everyone gets ETH for mining. Only* the person who created a block gets whole prize(block prize + fees). It may not happen in a year for you. So people unite their power in so-called pools, where chance to create a block is higher. The money is split between everyone according to their contribution(MH/s). But this portion of money is given to miner on demand, stored in pool's wallet all other time. So there're two versions:

  1. You're solo-mining and didn't create a block yet
  2. You're mining in a pool and didn't transfer money from it yet.

(*) there is also small prize for creators of orphaned blocks.

  • I have been mining in the ethermine pool, and I am getting a good hash rate, while the share rate is very low. People say to switch pools, however I've had trouble with connecting to other pools, and many people recommend ethermine anyways. Is there any way to increase the amount of shares that are being accepted without switching pools? – David Scarborough Dec 17 '17 at 12:43
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If you're mining in a pool. Check the pool's website for your stats which is typically found by your public wallet address.

If you're solo mining... Well, the difficulty is so high for 20 MH/s that I'm afraid you're going to wait a very long time before you mine an actual block.

You can reference this mining calculate to see your profitability: http://www.mycryptobuddy.com/EthereumMiningCalculator

Which, today, is only $60 month. $50 next month... And so on.

I'd heavily recommend joining a pool. If you want to see ETH in your wallet quicker. They have a minimum amount of a payout cap that you have to reach before they actually payout to your wallet. Be mindful of that.

Here is a list of ETH Mining Pool: https://bitcointalk.org/index.php?topic=1456332.0

  • All righty so I joined ethermine.org, got my miner set up using that pool, and everything is working just fine. However, my rates have not gone up. It says I am still currently only making $40, and using the calculator (Taking the power usage into consideration) it wasn't much different. So now my question is, if I leave it running for a while, how long will it take before I can actually make USD? Is there a certain amount of ether I have to make before I can actually transfer that to my wallet? If so, I cannot find it. Thanks! – David Scarborough Dec 16 '17 at 22:09
  • Listed on the front page, under features, is their minimum payout. Currently listed as "Customizable minimum payment threshold (Standard: 1 Ether, Minimum: 0.05 Ether, Maximum: 10 Ether)" To roughly figure out how long it will take. Take how much you "should" earn on a daily average in USD. Convert that to ETH. Now that number, how does it compare to the minimum payout 0.05? – MSwezey Dec 20 '17 at 18:10

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