let's mine Monero

[techead]

Yes, there is Bitcoin and Ethereum, but its already up to $185 , crazy stuff!!

https://coinmarketcap.com/currencies/ethereum/

I have my eye on Monero, which was, by far, the best performing of the lot in 2016!

https://coinmarketcap.com/currencies/monero/

Could someone be so kind and compile the below for me? I have neither the programming skills or access to someone who does

https://github.com/fireice-uk/xmr-stak-nvidia

Happy to make available to everyone, and will put a nice tutorial together for getting your first miner up and running. Note: I'm doing GPU Nvidia mining

 

[gregmcc]

Why not just download the compiled version?
https://github.com/fireice-uk/xmr-stak-nvidia/releases

 

[PPLdude]

Removed due to extremely stupid prediction

 

[techead]

Why not just download the compiled version?
https://github.com/fireice-uk/xmr-stak-nvidia/releases

My bad I didn't see that there....

 

[Thor]

Already have monero bought it after it was launched, definitely potential given the untraceable design

 

[Zukat]

Already have monero bought it after it was launched, definitely potential given the untraceable design

Did you got through luno to obtain it?

 

[Thor]

Did you got through luno to obtain it?

Luno is only ZAR and Bitcoin

 

[Willie Trombone]

Luno is only ZAR and Bitcoin

But you don't want to share where you bought it?

 

[Grubscrew]

Can someone's please explain the economics behind this. How is the value created or back? Is this not just the Internet's version of posting milk culture for R10

 

[Drifter]

This^^ . If I have, say, R1000 to play with, Where and how do I start?

 

[DrJohnZoidberg]

Out of pure interest I looked into this.

What pools are you guys using?

I'm using monerohash.com at the moment, didn't do much research but it's just one that came up.

Hash rates on my systems:

Fury X: ~780H/s
GTX 1060: ~500H/s

Honestly at the prices of electricity it really doesn't look to be worth it in my case.

 

[DrJohnZoidberg]

Woo, hit 1KH/s.

At this rate I'd need to mine for just under 10 full days to get 1 XMR. That's a whole lot of electricity (I'll hook up the watt meter later to see what the damage is).

 

[ActivateD]

I have free electricity where I stay but its moving slow 65H/s. Once my other PC is complete I will do it there and hopefully get faster speeds.

 

[DrJohnZoidberg]

My total power usage numbers for my Ryzen rig:

Idle at desktop (with a bunch of apps open): ~110W
Adding CPU mining load (7 threads on my 1700@3.9): ~150W (additional 40W)
Adding GPU mining load (Fury X @ stock): ~270W (additional 120W)

Hash rates:

CPU: 400H/s (~10H/s per watt)
GPU: 800H/s (~7H/s per watt)


So the Fury X is not the most efficient card for mining

 

[etienne_marais]

Can someone's please explain the economics behind this. How is the value created or back? Is this not just the Internet's version of posting milk culture for R10

It works on the principle of scarcity. The more time passes the harder it gets to obtain new coins. Initially it was easy to mine coins. Initial value at the beginning was added by being able to buy pizzas and coffee. The rest is supply and demand, I am willing to pay a certain amount of fiat for a certain amount of bitcoin or am willing to accept a certain amount of bitcoin for a product or service , liquidity is added by speculating on the exchanges, trading with fiat and between other coins. In other words natural market forces.

 

[Alton Turner Blackwood]

My prediction is that DigiByte is going to be be big($50-$60 -- Extremely distant future). Unless it's just a pump and dump

With you on that. Its k&k to mine though so I'm going to buy about 1 000 coins tomorrow.

 

[Thor]

Can someone's please explain the economics behind this. How is the value created or back? Is this not just the Internet's version of posting milk culture for R10

Like any other currency it's worth what someone is willing to pay.

What someone is willing to pay depends on the hype, applications and use I suppose.

 

[balrog]

I've found that trading alt coins has been a lot more profitable than mining. And no electricity costs. Just trade carefully and buy LOW.

That being said, I am letting my poor little RX470 on my home PC mine ETC 24/7. A new coin pops out every now and again, which is nice for putting in almost zero effort.

 

[Willie Trombone]

I've found that trading alt coins has been a lot more profitable than mining. And no electricity costs. Just trade carefully and buy LOW.

That being said, I am letting my poor little RX470 on my home PC mine ETC 24/7. A new coin pops out every now and again, which is nice for putting in almost zero effort.

What are you mining right now - Monero?

 

[srothman]

I've found that trading alt coins has been a lot more profitable than mining. And no electricity costs. Just trade carefully and buy LOW.

Which exchange are you trading on? I've noticed Kraken comes highly recommended?