Mining Pools & Payouts Explained Simply (T-Rex Miner, Ethermine, etc!)

[@diegoalvarez9960]

Thank you for putting out quality content like this Seb. Keep up the good work!

[@SebsFinTechChannel]

Thanks Diego, will do!

[@AutoAddictionMedia]

You deserve more subscribers, lots of good info on your channel!

[@SebsFinTechChannel]

Thanks mate but I’m already blown away by over 1000 subscribers already!

[@AlteredComponent]

He will be at 5k in no time. Growing quick with great content Come join us in Misfit mining discord if you need any assistance

[@luckymatev2605]

@@SebsFinTechChannel 1000 subs for content like yours is nothing!!!

[@Donkens]

How do i payout to a hardwallet? Do i enter for example the ledgers wallet adress instead?

[@Bruh01234]

Must say seb ur up there for one of my favourite and best mining youtuber and one of the few that manage to reply to all my questions (I have a lot sorry bout that 😂😂)

[@ryanj610]

Thanks for the walk through. The whole setup is somewhat intimidating when you don't even know where to look to get started; your videos make it a breeze!

[@davidfrancis2163]

Love your channel. Are you still using this set up? I was wondering if you have new suggestions since this video is a little older. I looked through your videos and unless I missed it, I couldn’t find an update to this vid for 2022. Thanks for all of your great work and the information!

[@mypc6065]

hello , thanks for every think . i need to asked . what is the good wallet , is the wallet take fee about the transaction from minig or from convert from crepto to usd

[@rasoulkhandan9334]

Hi dear friend Is a pool that has a lot of workers and a high hash rate better or less ?! Which is the best choice to make the most profit?

[@ChumpChangeXD]

Nicely explained sir. 🔥🔥🔥

[@SebsFinTechChannel]

TY 🤗🤗🤗

[@UKGBManny]

Just getting into Mining and you are my Guru lol thanks mate love from the UK!

[@janakaedirisinghe9549]

u deserve more subscribers, Thank you!

[@anugauravanu]

Hey... Very nice video. I am looking all your videos one by one as I am new to Mining. In this video you have shown Mining Pool and in last video you shown how to set up the mining software. Do you have video on - How to set up your mining Wallet. I am new to Mining and ordered my first rig, I wanted to know how I can make Mining Wallet. If you have already made this video, can you please share its link. Thanks.

[@ascalone2193]

My favorite miner youtuber

[@hyderali7512]

I'll admit it , I've learned so much so far from your videos , how to connect multiple PSU's in the safest ways possible and much more , you dont rush things , however for this particular query you didn't cover , setting up the IP address of the highes performing worker !??

[@maxus302]

Thanks for your amazing contest, I watched over and over...

[@jenoreceno7380]

very good quality content, always watching your vids for learnings. you deserve more subs man! good luck!

[@SebsFinTechChannel]

Thanks mate I appreciate that! :) Take care!

[@reitairue2073]

My issue is no matter what I try to do it wont let me connect to a pool. Any ideas?

[@tamimaflah]

Can I use my wallet address in Ledger X? For payouts.

[@GabrielMoreira-lp8jj]

Already a fan from brasil SEBS...keep doing the best

[@SebsFinTechChannel]

Thank you mate 👍

[@scotmockup]

Fantastic explanation bro.

[@9645353573]

On my dashboard it’s not showing active worker during trex running I was just stared using trex and I have edit my wallet address also Why it’s happens

[@Mircose]

I'm a bit confused.. I see people saying that I should not re-use my wallet receiving address because of privacy issues.. but I wonder: -"do miners need to keep changing their wallet addresses? or they generally speaking keep using the same address because is easier?"

[@stanis4554]

How Can aI select the best pool for me? Im mining in nbminer

[@vesstig]

Great video explaining the basics of getting into Crypto mining, cant wait to see more stuff

[@blueagain2097]

quality content, really informative and compact. wish you all the subscribers you deserve =)

[@SebsFinTechChannel]

Much appreciated!

[@bigbothoee8617]

Is there a way to find out how much the trex will generate with a specific card ? If you can give an example the highest payout and how long it took and the lowest payout

[@Mr2Danger4U]

greetings from austria, with your explain, i understand this shit very good :D sorry for my bad english ^^

[@ShrayChugh]

Hey can we calculate our daily earnings break up on ether-mine . It’s not available in the dashboard . Wanted to compare the performance with flex pool

[@Places4u]

Hey Seb thanks for explaining this. I still new top mining and excuse my ignorance about this but do we get paid twice while mining aka one time getting paid just because we are mining using our gpus and the second time when we find a block as an extra reward?? How do we know when we find a block ?

[@aadharshj10]

Thanks for this...I really wanted a vid like this

[@SebsFinTechChannel]

Glad it helped!

[@teacher3319]

I got a question: why are you using stratum instead of SSL? I've seen many people using the non-encrypted version of the server url why?

[@mrnugent8426]

Grate info and did not try to sell me shit. man that's genuine ty

[@justinoo777]

Is Verge XVG coin worth mining? If so, which mining software and pool is it best to use for it?

[@dilanthawijesinghe]

Can you put up a short video explaining the new upcoming payout policy update in ethermine? It would be highly appreciated

[@SebsFinTechChannel]

Honestly I don’t understand that new payout policy either.

[@1percent-in-8bill]

What about the gas fees can you make 1 vid for that too

[@Frosty_x.x]

If i put my ledger address in the bat file for t-rex ethermine will it deposit there or do i have to connect my metamask in the ethermine dashboard?

[@Frosty_x.x]

And Thank you for help everyone. especially us newbies. Amazing and helpful content all the time!

[@emmanuelrobles5150]

im a new miner, so the payout happens automatically after reaching the min. amount?

[@SebsFinTechChannel]

yes exactly

[@icawn]

hey sir, i'm mining together with my brother. we both mine to the same wallet, but want to distribute pay appropriately. are monitoring and comparing Valid Shares between our rigs the best way?

[@goodcitizen4587]

Here from ChumpChange. Comments: just talking - would like to see some attempt to do some graphics of some of these topics. I mean, a little more work than just blabbing to a camera. Show some screen examples, do some diagrams on google docs, etc.

[@christophergungon5069]

Thank you very much sir seb you help a lot to a newbie like me godbless

[@sodiumcopy1749]

what wallet for ETH can you recommend?

[@evankotzin7168]

Very well explained. Thank you for the tips.

[@Bruh01234]

How do I find the IP thingy to validate my account in the ethermine settings

[@zamo6268]

Got the same question, did you find out?

[@Bruh01234]

@@zamo6268 unfortunately not yet I’ll tell u if I find out tho.

[@zamo6268]

@@Bruh01234 Hey, you just gotta look for your IP on whatismyip.org, and it should appear

[@Bruh01234]

@@zamo6268 ok ty 👍🏽

[@Bruh01234]

@@zamo6268 then what do I do on the website?

[@pachichaar1]

friend to this day do u still use t rex miner ?

[@seicurioso]

Hey man , thanks for all video ! I have question , can I receiving payout directly on my Coinbase ? And if I mine ETH can i receiving payout in Bitcoin like Nicehash payment ? Thanks man , sorry for my english !

[@JohnVDenley]

Brilliant brilliant video...thank you so much

[@SebsFinTechChannel]

Glad you liked it John :)

[@edwardfurby1578]

So does this mean that if I start using trex with a couple of gpus and mine ethereum then I can’t stop until I hit my payout or I lose all my progress/time investment?

[@freaky5288]

Odd but seems so

[@NeoXice]

Nice Video i wanted to ask you what Wallet you are using?

[@SebsFinTechChannel]

I’ve tried different ones, haven’t found one that I like enough to recommend yet!

[@clampulp]

I assumed I was just using a crap wallet a phone app called hyper pay but when I looked up my worker on ethermine it didn't come up with anything, any suggestions on what wallets are worth using? also I'm from Australia was it correct to mine from the asia ethermine pool? any feedback is apperciated :)

[@M10Alejo]

Excelent info! Great channel!

[@Rooboy-619]

Very well explained. Tyvm

[@Lobonova]

This is very helpful. Thank you

[@tylerscofield9799]

Super helpful for someone getting into mining thaank u

[@markokostoski2269]

Can someone explain me how does it go with the active workers because I have 2 separate rigs connected on the same ethermine pool and it shows up as 1 worker but when I do the math if how many mh/s there is it seems that the 2 rights are. Im so confused. Sry I’m rookie in mining!

[@SebsFinTechChannel]

Have you given the workers different names in your .bat files?

[@Foresttofinish]

Right and simple explanation

[@Mochy99]

Thanks for the Great video explaining auto subscribe

[@mister8765]

Love your vids!!

[@CryptoDaveYT]

Great video, learned a lot!

[@SebsFinTechChannel]

Glad to hear it Dave!

[@AJmira-mj2im]

What percentage are you saving yourself going this route vs. say NiceHash?

[@SebsFinTechChannel]

Roughly 4%

[@AJmira-mj2im]

Thanks Seb! Alternatively, could you direct mine with HiveOS simply pointing the software to your personal or exchange wallet instead of NiceHash to avoid the fees? I’m not against using T-Rex or anything, I just am already set up on HiveOS. I really enjoy your videos. Cheers 🍻 A.j.

[@SebsFinTechChannel]

@@AJmira-mj2im so what miner are you using in HiveOS?

[@AJmira-mj2im]

@@SebsFinTechChannel TeamRedMiner

[@lordace8795]

Excellent explanation!

[@MilanKarakas]

I am confused, it says "Remaining to threshold: 0.98913 ETH", that means many years to achieve? Yet, "Next payout in 23 days". Right now I am at 0.00259 ETH (after about 7 days). So, that means I should to wait for more than 365 days?

[@SebsFinTechChannel]

I'm assuming you're using ethermine. there are multiple "tiers" of payouts. one is the instant payout you get when you hit the threshold (1eth, can be lowered to 0.1eth). the second one is the monthly payout which happens on the 28th of each month as long as your unpaid babalnce is at least 0.01eth. you can also request a manual payout, but then you will have to pay for the transfer fees. you can read more about the ethermine payout policy here: support.bitfly.at/support/solutions/articles/8000060967-ethermine-org-payout-policy

[@MilanKarakas]

@@SebsFinTechChannel So, there is still hope for me? Thanks.

[@tudragon8826]

Wow thanks so much 😍

[@aishamysticjeweler5544]

Hi Seb, SOS I need to charge everything I have mined and when I put the public IP it tells me that it is invalid, I move my residence and I think I change the IP but ethermine does not allow me or accept my new IP, what can I do to charge my thousands, please some help

[@SebsFinTechChannel]

it wants the ip adress that your rig is connected to

[@aishamysticjeweler5544]

@@SebsFinTechChannel Hi Seb, If at the beginning when I connect for the first time I put the public IP that he gave me on the internet, but I moved from home, now I no longer have that IP saved and when I put the new one it tells me that it is invalid, I use two different rigs and it doesn't Accept neither of the two IPs that I get, as it asks me for the first IP I put in for the first time but I don't have it, what can I do to solve this ?

[@SebsFinTechChannel]

I don’t know sorry.

[@aishamysticjeweler5544]

@@SebsFinTechChannel I should be inactive or rif off to enter and validate my IP ?

[@aishamysticjeweler5544]

@@SebsFinTechChannel ok thank you Seb

[@180mhs]

Thanks to you with the trexminer. I got my shitty tuf15 3070 mining ethermine atm. 45mhs roughly better than nothing I reckon. Just hope btc shoots to 70k instead of 13k. All marbles in the bag next 48hours.

[@nomoretalk2967]

if you undervolt and overclock slightly you should reach 60mh/s for instance if you use msi after burner lower little by little tdp and core voltage, raise memory temp little by little. for instance mine is 51%tdp, -502core, +1180mh memory and it gives me 61.2mh/s at 47-18°C 57%rpm. each card is diefferent so it's important that you increment little by little, monitoring temperature and also incorrect/rejected shares which could came as a result of you pushing to much or lowering too much tdp.

[@180mhs]

@@nomoretalk2967 I try to use msi after burner doing 325 /550 getting 49mhs. It will not let me mess with the voltage only core and memory.

[@ryuhayabusa943]

How to mine ERG Coin Sir?

[@yowson2026]

Can I use binance as my coin wallet?

[@SebsFinTechChannel]

Yes

[@humberhub]

Excellent video!

[@gordanzzzz]

This is my question do U earn more on ethermine vs nicehash ?

[@MrPumporaro]

From my experience it varies, +-5%. Nicehash perfect for setup under 400 mh/s. While direct pool mining is suitable for larger build.

[@gordanzzzz]

@@MrPumporaro hm interesting thanks

[@PHiLiPPiNESCENES]

SO THE BiG QUESTiON iS: *SO WHAT ARE THE PAYOUT FEES THAT ARE TAKEN OUT OF THE PAYMENT WE RECiEVE?* CAN YOU GiVE DETAiLS ON WHAT ALL THE FEES ARE? DOES T-REX ALSO HAVE A FEE? THANKS iN ADVANCE!

[@phocutoo151]

Best wallet website?

[@AlteredComponent]

The water is warm. Time to Jump right in.

[@SebsFinTechChannel]

Heck yes! 😎

[@griefmaker8240]

I need tutorial for etherium mining for amd,full explained

[@buddhiwimarshana6868]

wonder how u managed to get the current hashrate way above the reported hash rate @ 8:53 (these days)? average is toooo impressive! any hints/ thoughts appreciated :)

[@SebsFinTechChannel]

Hi! This is not my dashboard, it’s for the default wallet address in Trex, so I’m guessing since a lot of people might mine on it a little just to test before changing to their own address the stats on ethermine are all messed up.

[@SebsFinTechChannel]

My average is also usually just below my reported.

[@buddhiwimarshana6868]

@@SebsFinTechChannel I was just about to smash my rig LOL :) cheers and keep up the good work!

[@flyonsmoke]

Hi, One small query.. Tried downloading and running trex miner through Bitcoin talk website. It doesn't run the program, with the message being "trex.exe is not available or something like that" Help will be appreciated... Thanks a ton

[@Findanish]

Press Ctrl+J in chrome to bring up the downloads page, then click on Keep this file. Save all the TREX files into a folder, then whitelist that folder in Windows Defender.

[@nomoretalk2967]

in your bat file, you have to put all the directory of T-rex, where it is in your windows repertory. instead of t-rex.exe -a ethash -o .... put the entire 'adress' for example: "C:/user/download/t-rex/t-rex.exe" -a ethash -o etc.... don't forget " "

[@flyonsmoke]

@@nomoretalk2967 actually my Trex.exe was getting deleted by windows firewall i suppose. thats why this issue occured.. thanks for the help

[@flyonsmoke]

@@Findanish yup got it... the .exe file was getting deleted when extracting... your comment helped me sort it out... thanks a ton

[@myjpkl]

I'm not able to find one video on nicehash vs ethermine(or any others) especially running a timelapse for 24 hrs or so. They need to start at exact time and exact hardware. Futhermore, it is hard to compare . As one is payout in BTC and the one is in ETH. There are conversion and there are network fees to take into account to compare. There is ZERO video on youtube.. most of them are just talk and nicehash thrash talk. Suprsingly my nicehash is paying more.

[@jakubknitter2679]

Why nobody on KZbin doesn’t mention nsfminer (No Stinkin’ Fees)?

[@MilanKarakas]

We are doomed right now! New rules! I am on Coinbase and no way to set it properly. It is no more 28th of the month, but rather some strange calculations in Gwei. Can you make video tutorial about that change, please. Thanks.

[@SebsFinTechChannel]

Don't worry, we are not doomed :) You just need to pay the transaction fee for the pool payout. Usually right now it'll be about 0.001 ETH

[@alirezahadizadeh1473]

Very helpful

[@DavaoXCEvents]

Nicehash - Coinbase - Paypal. It doesnt go any simpler than that. It is also safe if you do it regularly so why go to the trouble of going to pools with pool fees, eth gas fees, transfer fees and transaction fees not to mention you need to wait for specific payment threshold to be able to access your coin. So yeah. Nicehash for me.

[@SebsFinTechChannel]

Well just to be clear. Nicehash charges about 5%. In total I pay about 1% in fees direct mining on a pool.

[@DavaoXCEvents]

@@SebsFinTechChannel Nicehash is charging 2% in fees based on their website

[@SebsFinTechChannel]

Right but you also have to keep in mind that on Nicehash you are renting out your hash power to someone else, so you are not getting the full profits of your hashrate since the person renting your hashrate wants to make a profit. From what I’ve seen Nicehash tends to be 5% less profitable than direct mining. Look I don’t disagree with you that Nicehash is a super simple and user friendly way of mining. I just wanted people to have a clear picture on costs and fees.

[@Martinit0]

3:18 "finding a block is near impossible" - can you quantify that? What's the probability to "find" a block at a given hashrate and what other factors are there that influence the likelihood of getting the block reward?

[@SebsFinTechChannel]

Well a very simplified way of calculating it would be taking your hashrate (let’s say 100mh/s) and dividing that with the total (known) network hashrate (~500 000 000 Mh/s), then multiplying that with the amount of blocks found per day (~6400). This would give you a 0.128% chance of hitting a block in 24h with 100Mh/s. Or rather it would take you almost 3 years to hit a block (STATISTICALLY) with 100mh/s. We also need to take into account the massive factor of luck when solo mining. You could hit a block in 3 seconds or you could go your whole life without ever hitting a block. Pool mining takes the element of luck out of the equation, and I don’t like gambling with things like this. Crypto is enough of a gamble as it is lol. With pool mining you get steady payouts that are fair for the hashrate you provide.

[@ahmadjibawi8535]

thank you

[@Kallekosmo]

Thanks

[@katalytic69420]

Thanks Bro

[@Theferg1]

👍💯

[@scott1506]

looks like ethermine still top for eth at the moment.

[@CloneCT0711]

Just subed yeet

[@rowdyjames3790]

👍🏻👍🏻👍🏻👍🏻👍🏻❤️

[@blowinkk9396]

You can't really say "safer then nicehash". Is there any other BTC company that would repay you after getting hacked? Nope they just walk away

[@SebsFinTechChannel]

I would like to argue that a system that isn’t susceptible to being hacked to begin with is safer.

[@TheDieSchale]

Does any1 know the best way to change my ethermine payouts into fuckin real money (€) without horrible fees?

[@SebsFinTechChannel]

For example you can mine directly to an exchange wallet like coinbase, exchange there and then send to PayPal.

[@mG-xj8zj]

Ethereum is shit, gas fees kill ethereum how can a gas fee can be two or more times than the amount you are trading

[@larshaggqvist2270]

Please stop with the background sound 🙄

[@shammuk02]

Hey man can u do a comparison of earnings between different miners w the same cards and see which is most profitable im currently making ard 25 dollars per day w 7 3070s on nicehash

[@DeluxeChipmunk]

one of the biggest reasons im still using Nicehash is the phone app. being able to monitor all my cards and see their temps, hash rates, check my current earnings, my balance etc etc from my phone is super handy. if i was to switch to T rex and ethermine pool for example, is there any way to still monitor these stats on your mobile device?

[@SebsFinTechChannel]

Well kind of, you can monitor some of those things from any phone browser by visiting your dashboard for ethermine. If you want super detailed things like individual hashrate and temperature for each card you’d have to either set up Remote Desktop or get a mining specific operating system like Hiveos

[@DeluxeChipmunk]

@@SebsFinTechChannel thanks for the info!

[@matthewcohen7488]

that feature is nice, but it is never accurate. And theoretically you can stop or re start your rig from your phone, but in reality this feature does not even work. Your payout and current holding information IS accurate, the temperature of your GPUs is accurate, but the amount you are earning per day is always inaccurate. It seems to stay in the same ballpark, so that if your earnings seem low, when you get home in fact they are lower (or higher), but I find those stats are always OFF. So the phone app mostly works. Thats been my experience, at least.

[@ryuzju200]

you Spotify is perfect!! thanks great video bro (You cant help me, try mining ZANO, because is more better to ETH value is change to 4usd to eth 2 get only 12MHZ on Zano, :( because bro i have 1660s

[@adejulistyo5542]

Hi seb, is the mine address its the same with wallet address? I put my wallet address in the search bar in ethermine.org , they said no active worker found and also no unpaid balance on my dashboard.Im using trex and its active at the moment i put my wallet address. Why its that happen? Sorry for my bad english.

[@SebsFinTechChannel]

I’d you’ve put the same address into trex and ethermine then you probably just need to wait half an hour or so and it will show up.