Ethereum GPU mining?

[thilanliyan]

I have a Ledger Nano S. When you create an account with it you generate a 24 word recovery phrase, so in the event of loss/damage/theft of the device, the phrase can be used to recover access to the account.

So is the wallet actually stored on the device? Or just a key to access the wallet?

 

[poofyhairguy]

Claymore 10 is out and has another speed bump but it doesn't work on my mixed generation rig (like mining won't even start) so I have to keep 9.3 on their for now. I expect I will mine for about another two months at current rates and my cost of power considered so I want to stay on top of any updates till then.

 

[Feld]

So is the wallet actually stored on the device? Or just a key to access the wallet?

The wallet is the device. A wallet is nothing more than a user interface to an account on a blockchain, be it hardware or software. In the case of a hardware wallet like a Ledger, the private keys to access the wallet are stored in hardware and never leave the wallet. So it can be used to send bitcoin and ether securely from any computer that can access the blockchain, even if that computer is filled with viruses, spyware, and keyloggers. That's the benefit to a hardware wallet - your account can't be hacked because the wallet is incapable of exposing the private account keys that are required to initiate a transaction, by design.

 

[thilanliyan]

The wallet is the device. A wallet is nothing more than a user interface to an account on a blockchain, be it hardware or software. In the case of a hardware wallet like a Ledger, the private keys to access the wallet are stored in hardware and never leave the wallet. So it can be used to send bitcoin and ether securely from any computer that can access the blockchain, even if that computer is filled with viruses, spyware, and keyloggers. That's the benefit to a hardware wallet - your account can't be hacked because the wallet is incapable of exposing the private account keys that are required to initiate a transaction, by design.

Thanks for the info.
So this is safer than something like Armory or Mycelium?

 

[Feld]

Thanks for the info.
So this is safer than something like Armory or Mycelium?

It's basically on par in terms of security, from what I understand, except that a Ledger can be used for both bitcoin and ether at the same time. Though I don't think you can have multiple bitcoin and ether wallets on the same device at the same time.

 

[thilanliyan]

Just ordered a Nano S since it can hold both Eth and BTC. If a program like Armory could do both, I would have probably gone that route. This way I don't have to worry about multiple programs or anything.
Thanks for your input Feld.

One question about the nano S... can you do the initial setup offline, meaning the one with the 24 word passphrase? From what I understand if a hacker gets that passphrase they can get your coins?

 

[suklee]

yup you would need wallet contracts. i dont use the wallet contracts as exchanges may not support them and i just do stuff straight from my account.

regular accounts do not keep track of transactions. you could use an eth blockchain explorer and check account addys that way though.

eth wallet is still a mess imo

so kinda depends on your needs.

The one feature I want to have is the ability to manage and keep track of multiple Bitcoin wallets (Eth/Zec other altcoin support would be nice, but not necessary at this stage)... I downloaded Jaxx and took a look at Coinbase but neither of these seem to support multiple wallets?

Just googled and found this, anyone use them before? This sounds like what I need: https://copay.io/

No more tedious address management.
The Copay app securely stores multiple, distinct bitcoin wallets, allowing both business and privacy-conscious users to keep funds carefully separated.

Manage personal, business, and testnet wallets easily, all without leaving the app. Copay uses hierarchical-deterministic (HD) wallets, allowing for secure in-app wallet generation and backup.

 

[suklee]

The wallet is the device. A wallet is nothing more than a user interface to an account on a blockchain, be it hardware or software. In the case of a hardware wallet like a Ledger, the private keys to access the wallet are stored in hardware and never leave the wallet. So it can be used to send bitcoin and ether securely from any computer that can access the blockchain, even if that computer is filled with viruses, spyware, and keyloggers. That's the benefit to a hardware wallet - your account can't be hacked because the wallet is incapable of exposing the private account keys that are required to initiate a transaction, by design.

Do the majority of these USB hardware wallets/devices work in the same manner? Just came across this through the multibit.org website: https://www.keepkey.com/ ... How does one go about choosing a hardware USB wallet? It's probably about time I got myself one.

 

[Ancalagon44]

Claymore 10 is out and has another speed bump but it doesn't work on my mixed generation rig (like mining won't even start) so I have to keep 9.3 on their for now. I expect I will mine for about another two months at current rates and my cost of power considered so I want to stay on top of any updates till then.

How much faster is Claymore's miner than the default CPP miner?

 

[Feld]

Do the majority of these USB hardware wallets/devices work in the same manner? Just came across this through the multibit.org website: https://www.keepkey.com/ ... How does one go about choosing a hardware USB wallet? It's probably about time I got myself one.

I think they do, but only the Ledger Nano S and Trezor support ether, AFAIK. And the Ledger is more likely to support the various tokens on the ethereum network in the future. So I picked one up when it went on sale for Black Friday. My eth stash is getting valuable enough that it made sense from a security standpoint anyway.

 

[Feld]

Just ordered a Nano S since it can hold both Eth and BTC. If a program like Armory could do both, I would have probably gone that route. This way I don't have to worry about multiple programs or anything.
Thanks for your input Feld.

One question about the nano S... can you do the initial setup offline, meaning the one with the 24 word passphrase? From what I understand if a hacker gets that passphrase they can get your coins?

Yes, the recovery phrase is generated by the device itself and displayed one word at a time on its own built-in screen during setup. It never gets transmitted to the computer you connect to.

 

[thilanliyan]

Yes, the recovery phrase is generated by the device itself and displayed one word at a time on its own built-in screen during setup. It never gets transmitted to the computer you connect to.

Thanks, and regarding my other question, if someone gets a hold of that passphrase, your coins are gone correct?

 

[Madpacket]

Anyone mine anything on a 1050? Kinda want an HDMI 2 card and that's about the cheapest one locally. Some 460s available for a couple bucks less.

I just picked up the EVGA 1050 Ti OC for my 7 Litre OSMI HTPC case. Managed to get one for a good price (under $150 CAD). I needed something very low power. I'm mining Ethereum on it at approx 12-13Mh with the power limit to the lowest value. Even in a very poorly ventilated case the card is only running around 60 Celcius at 60% fan speeds while mining. Thankfully the fan is almost inaudible at these speeds. I can also watch Netflix or 1080P movies while mining without any slowdown. Ideally a Rx460 would be better but I doubt it'll be as efficient and I was worried it would run too hot.

 

[poofyhairguy]

I just picked up the EVGA 1050 Ti OC for my 7 Litre OSMI HTPC case. Managed to get one for a good price (under $150 CAD). I needed something very low power. I'm mining Ethereum on it at approx 12-13Mh with the power limit to the lowest value. Even in a very poorly ventilated case the card is only running around 60 Celcius at 60% fan speeds while mining. Thankfully the fan is almost inaudible at these speeds. I can also watch Netflix or 1080P movies while mining without any slowdown. Ideally a Rx460 would be better but I doubt it'll be as efficient and I was worried it would run too hot.

No, my 4GB 460 is locked at around 11Mh. That is pretty good to get 13 from a 1050.

 

[poofyhairguy]

How much faster is Claymore's miner than the default CPP miner?

A decent amount. Plus its a lot more stable if you are going to run it 24/7.

 

[ElFenix]

I'm getting a miner reported ~12mh/s from this one, zotac 1050ti mini. Haven't touched core clock on it yet.

 

[Madpacket]

No, my 4GB 460 is locked at around 11Mh. That is pretty good to get 13 from a 1050.

Interesting, I thought the 460 would be a little faster. At least it cost less money and still makes for a good HTPC card. I don't ever expect to ROI on the 1050 Ti but I can't *not* mine on it. If it makes a few Ether over the course of its lifespan than that's good enough

 

[Madpacket]

I'm getting a miner reported ~12mh/s from this one, zotac 1050ti mini. Haven't touched core clock on it yet.

I think the EVGA Ti OC cards have a little higher boost clock than the Zotacs? I should also state I'm overclocking the memory and core a little but noticed the largest gains from the memory overclock. Even with the power restriction it still boosts to around 1800mhz on the core. Efficient little cards these are.

 

[Madpacket]

Thanks, and regarding my other question, if someone gets a hold of that passphrase, your coins are gone correct?

Yes your 24 word passphrase is effectively your password backup. What I've done is write the passphrase to a file and stored it on a a few hardware encrypted and password protected USB drives for redundancy and then separated the USB keys. The paper wallet is still good if you have say a lock box at a bank or something similar like that to secure it. Keep in mind if you know someone has stolen your passphrase, like a thief broke into your house and stole your fireproof safe which say has the paper wallet in it, they probably won't know what it is and you can transfer your crypto currency to another wallet (hardware or software) provided you have the physical Trezor itself or another copy of the passphrase. If a thief steals the Trezor itself, you are protected by a 4 digit PIN number (you always need to enter this PIN to unlock the device) which should hopefully give you enough time to restore your coins via the paper wallet. Ideally you want to always keep the Trezor and paper wallet in separate physical areas.

 

[poofyhairguy]

Interesting, I thought the 460 would be a little faster.

I think the issue is the 128 bit bus on the 460. It is memory limited, and OCing the core does nothing. It is not nearly as good at mining ZEC or ETH as my 370 is (or a 470).

At least it cost less money and still makes for a good HTPC card. I don't ever expect to ROI on the 1050 Ti but I can't *not* mine on it. If it makes a few Ether over the course of its lifespan than that's good enough

Yeah that was my feeling about the 460. I felt eventually I would want a card that could decode HEVC in hardware for my non-gaming HTPC, so I bought that 460 to mine what it could from every day until the day I needed it. It has almost paid for itself in the value of ETH mined.

 

[thilanliyan]

Yes your 24 word passphrase is effectively your password backup. What I've done is write the passphrase to a file and stored it on a a few hardware encrypted and password protected USB drives for redundancy and then separated the USB keys.

Are these USB drives standard? Or there are some specific ones for this type of purpose?

Also, can you have 2 different Nanos containing the same accounts?

 

[Madpacket]

I think the issue is the 128 bit bus on the 460. It is memory limited, and OCing the core does nothing. It is not nearly as good at mining ZEC or ETH as my 370 is (or a 470).


Yeah that was my feeling about the 460. I knew eventually I would want a card that could decode HEVC in hardware for my non-gaming HTPC, so I bought that 460 to mine what it could from every day until the day I needed it. It has almost paid for itself in the value of ETH mined.

I really wanted to buy a 4GB 460 but I needed a card under 6.8 inches and didn't see many options with the 460 series. The Geforce 1050 was on sale (plus I got a free $50.00 GC) and I also bought for the improved HEVC. My TV is only 1080P so a bonus the 1050 Ti can handle most modern games at medium to high details around 60 FPS, I didn't expect it to perform that well given the specs. I'll eventually upgrade to 4K HDR when 65" OLED's become reasonable but for now this will do just fine. The entire computer under gaming loads typically uses less energy than my PS4 (Core i7, 16GB RAM, 1TB SSD, ITX 1150 board).

 

[Madpacket]

Are these USB drives standard? Or there are some specific ones for this type of purpose?

Also, can you have 2 different Nanos containing the same accounts?

I use the Kingston Data Traveler Vault Privacy ones. They have a nice seal around the lid and are much more rugged compared to regular USB thumb drives. You pay a little extra but you only need the smallest size. Plus you can use them to keep other important data.

https://www.kingston.com/en/usb/encrypted_security

As for the Nano's I know you can wipe and restore using the same key but I haven't messed around with this functionality to much so I'm not sure if can use the same key for multiple devices. The folks at Ledger are pretty responsive so if you e-mail them I'm sure you'll get a response back pretty fast about this.

 

[Madpacket]

Claymore 10 is out and has another speed bump but it doesn't work on my mixed generation rig (like mining won't even start) so I have to keep 9.3 on their for now. I expect I will mine for about another two months at current rates and my cost of power considered so I want to stay on top of any updates till then.

Thanks, just upgraded my miners. Noticed a nice speed bump on my 480 rigs but less so on my 390's and Fury cards. Mining is become less profitable by the week but given it's Jan 2017 and it's still profitable to mine I'm pretty happy how things ended up. Party will probably be over soon and I'll have a lot of gear to unload!

 

[Feld]

Yes, you definitely want to keep the recovery phrase someplace secure. If you're really paranoid, intentionally write the wrong one in one spot, and you will be the only one who knows what word is wrong and what it should be.