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Which coin to mine with CPU? (plz no trolls xD) - Page 2
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Which coin to mine with CPU? (plz no trolls xD)

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Comments

  • jarland said: How is it not? It's spending an equivalent of money to obtain an equivalent of money that you expect to increase in value over time so that you can then trade it for money in hand at a later date. If you're mining and immediately selling, your equivalent is day trading. I'm pretty sure more people make money selling tickets to seminars about day trading than actually make any significant money day trading. It's totally equivalent... the time, effort, resource, and fees just chip away at day traders.

    i just lost 10k in fucking DIM coin ... so yes is spend money :)

  • jarjar Patron Provider, Top Host, Veteran

    @cociu said:

    jarland said: How is it not? It's spending an equivalent of money to obtain an equivalent of money that you expect to increase in value over time so that you can then trade it for money in hand at a later date. If you're mining and immediately selling, your equivalent is day trading. I'm pretty sure more people make money selling tickets to seminars about day trading than actually make any significant money day trading. It's totally equivalent... the time, effort, resource, and fees just chip away at day traders.

    i just lost 10k in fucking DIM coin ... so yes is spend money :)

    Sometimes you bet on the right horse, sometimes you don't. Sometimes you hold for a better value and miss your chance to sell.

  • @jarland said:

    Maxsam4 said: Why are you confusing mining with investing? Mining is NOT investing. Mining 101 : Mine the most profitable coin at currrent time.

    How is it not? It's spending an equivalent of money (hardware, electricity, all have monetary value to own/use) to obtain an equivalent of money that you expect to increase in value over time so that you can then trade it for money in hand at a later date. If you're mining and immediately selling, your equivalent is day trading. I'm pretty sure more people make money selling tickets to seminars about day trading than actually make any significant money day trading. It's totally equivalent... the time, effort, resource, and fees just chip away at day traders.

    You can automate the selling. excahnges offer APIs. Sorry I cant explain the conept better than my previous example.

  • Maxsam4Maxsam4 Member
    edited January 2018

    ps bitcoin seems to be on a bull run. I recommend dumping your alts and buying bitcoin for short term.

    also, If you are using mining as an invest and forget thing then yeah monero as an investment is a safer bet. ETN is more profitable but carries slightly more risk.
    Monero is stable but it does not have the potential of etn in terms of return. monero might go from 300 to 1000. 3.5x returns in next few months. etn has the potential to give 6x returns in the same time. It is listed on only 1 crappy exchange right now and once it pops up on other excahnges, I think its gonna jump up in price. Its all personal opinion though. invest in the coin you think is gonna jump.

  • randvegetarandvegeta Member, Host Rep

    @Jarland, I think you're looking at this the wrong way. When it comes to mining, you really SHOULD be looking at the prices NOW and not what they will be in the future.

    Since ETN is just a Monero clone, I am assuming that 1KH/s is equivalent on both coins, and indeed ETN looks to yield 70% more (in USD terms) than mining Monero. So if you really believe in Monero, you would mine ETN, sell it, and buy XMR. It's really not that difficult. In general, miners should be mining the most profitable coin they can (given their hardware, also not forgetting the payout/transfer/pool feels etc.).

    So to consider the future price would be wrong when it comes to mining.

    Using your example for BTC mining, actually if you are betting on the price rise of BTC, you would almost always be better off just buying BTC. So again, if you're betting on the price rising, mining is not the best way to make money.

    Also, when it comes to crypto, you don't 'invest' in crypto. You gamble! The crypto markets are pure speculation. The money that goes into buying crypto does not contribute the development or the technology. And there is no intrinsic value, so I'm not sure under what definition buying crypto counts as 'investing'.

    You CAN invest in MINING. And by that I mean, you can buy equipment for the purpose of mining. In this case, you are literally putting in capital/plant in order to 'produce' something. Though I'm not sure it's very wise to put in a huge amount of money into mining (particularly ASIC mining).

    For us hosts with excess equipment, I also don't consider what we do 'investing'. For us, we have excess resources that are mostly paid for any way. @Cociu only has extra power to consider, but otherwise has hundreds of old servers at his disposal. The 'profit' margin for most modern CPUs is over 50% and as high as 90% when considering only the electricity cost. Since you can sell your coins pretty much straight away, it's more trading than investing.

    @Maxsam4, is it the case that 1kh on XMR is equivalent to 1kh on ETN? Meaning, if I have some HW that can do 1KH for XMR, I can get the same hash rate on ETN? In which case, the block reward's $ value is currently around 70% higher?

  • @randvegeta said:
    @Maxsam4, is it the case that 1kh on XMR is equivalent to 1kh on ETN? Meaning, if I have some HW that can do 1KH for XMR, I can get the same hash rate on ETN? In which case, the block reward's $ value is currently around 70% higher?

    Yes, that's precisely what I have been trying to say.

  • randvegetarandvegeta Member, Host Rep

    @Maxsam4 said:

    @randvegeta said:
    @Maxsam4, is it the case that 1kh on XMR is equivalent to 1kh on ETN? Meaning, if I have some HW that can do 1KH for XMR, I can get the same hash rate on ETN? In which case, the block reward's $ value is currently around 70% higher?

    Yes, that's precisely what I have been trying to say.

    Sorry, I thought you were saying that mining XMR was not profitable because of the fees, and not because the $ value of the block reward was greater for ETN for the same hash rate.

    The transaction fees are negligible to non-existent. Payouts direct to a wallet from MineXMR are free for 0.5XMR and more, or 5XMR to push directly to an exchange. And given the 0.6% fees on supportXMR, even though they DO charge the transaction fees, they are competitive from 1XMR payout, and free for 4XMR and over.

    But it is interesting that mining ETN is more profitable. Likewise, mining AEON is less profitable, even though that is basically just Monero Lite.

  • WHTWHT Member

    Am looking to buy some Petros now. Venezuela crypto curency.

  • @randvegeta said:

    @Maxsam4 said:

    @randvegeta said:
    @Maxsam4, is it the case that 1kh on XMR is equivalent to 1kh on ETN? Meaning, if I have some HW that can do 1KH for XMR, I can get the same hash rate on ETN? In which case, the block reward's $ value is currently around 70% higher?

    Yes, that's precisely what I have been trying to say.

    Sorry, I thought you were saying that mining XMR was not profitable because of the fees, and not because the $ value of the block reward was greater for ETN for the same hash rate.

    The transaction fees are negligible to non-existent. Payouts direct to a wallet from MineXMR are free for 0.5XMR and more, or 5XMR to push directly to an exchange. And given the 0.6% fees on supportXMR, even though they DO charge the transaction fees, they are competitive from 1XMR payout, and free for 4XMR and over.

    But it is interesting that mining ETN is more profitable. Likewise, mining AEON is less profitable, even though that is basically just Monero Lite.

    Nothing is written in stone when it comes to cryptos. The price of etn may crash tomorrow making monero more profitable or the price of aeon may jump up making it more profitable but right now karbo, nicehash and etn are the most profitable. If you dont want to rely on ETN then try nicehash. nicehash is usually the second most profitable as they mine the #1 through your power. (Karbo is #1 and nicehash is #2 right now). I am sticking with etn mainly due to the low fees and brighter future imo.

    XMR transaction fees are not high for you cause you have multiple CPU/farm. For a single CPU, as stated in op, the 5$ transaction fee cannot be neglected and you can almost forget mining 5 xmr (about 1500usd) to cash out directly to exchange with 1 CPU.

  • FranciscoFrancisco Top Host, Host Rep, Veteran

    Maxsam4 said: I am sticking with etn mainly due to the low fees and brighter future imo.

    Any love for intense?

    Francisco

  • What would be a good public ETN pool to mine? Just xxpool.electroneum.com

  • jarjar Patron Provider, Top Host, Veteran
    edited January 2018

    I'm not sure under what definition buying crypto counts as 'investing'.

    I'll concede that maybe I'm insane, but in my mind the tragedy is that people largely don't see that the actions and strategies are so equivalent that they're almost identical, the rest is just outlining the difference between the investment item, which is easily of as little difference as investing in stock of one company over another. Theoretical value vs physical product doesn't matter much in my eyes, the techniques for betting on them, trading them back and forth, and the luck of one succeeding over another are not really all that different simply because one has a board of directors. Hell, half the things on the stock market are theoretical ;)

    I truly do see them as so equivalent that basic investment techniques could be made use of, day trading obviously being an equivalent that is getting used. I think people are just overthinking the difference between the two things and therefore throwing out decades of solid investment advice.

    But maybe I am insane, it's not impossible.

    Thanked by 1ricardo
  • @Francisco said:

    Maxsam4 said: I am sticking with etn mainly due to the low fees and brighter future imo.

    Any love for intense?

    Francisco

    Sorry but I don't follow IntenseCoin. Its market cap is too low right now for me to spend time on it.

    Thanked by 1Francisco
  • Maxsam4Maxsam4 Member
    edited January 2018

    @spammy said:
    What would be a good public ETN pool to mine? Just xxpool.electroneum.com

    I recommend nanopool for its reliability and 'brand' trust. suprnova works well too for me.

    Some people recommend spacepools because of their low fees but the owner there either does not know what he is doing or he is just scamming people. In last December only, he claimed to have lost access to the current databases TWICE and restored weeks old backups which meant that your unpaid coins were gone forever TWICE.

  • lurchlurch Member
    edited January 2018

    I'm currently mining monero at 1kh but from what has been said it would be better if I switched to etn?

    what is the best linux client for mining etn via cpu

  • @lurch said:
    I'm currently mining monero at 1kh but from what has been said it would be better if I switched to etn?

    what is the best linux client for mining etn via cpu

    Same as monero.

  • Someone please explain this to me why mingerate gui on ubuntu gui is able to give me more power thn the cli xmr-stack on ubuntu with or without gui? I tried all types of config with xmr-stack (lower power on/off, no-prefetch on/off etc) but i am not even able to get 70% of what i am able to achieve with minergate when mining XMR or ETN with custom pools not the default minergate ones.

  • I tried mining but found that instead of spending money on buying / hiring servers, I just simply buy coins with it. So, my XRP and NEO investment are triple now, and after withdrawing my initial fund ~ 5k), just wait for profit increasing :-)

  • Bytecoins

  • IamIam Member

    Looks like I picked up the right coin (VRM). 2 days ago it just worth 6 USD and now 16 USD.

  • So am i the only one who is not playing this game? I am neither mining nor trading with coins. Should i feel stupid for this?

    Thanked by 3henkynl gbshouse Xei
  • IamIam Member

    @rds100 said:
    So am i the only one who is not playing this game? I am neither mining nor trading with coins. Should i feel stupid for this?

    Mining VRM is still relative easy right now. I use 10 Kimsufi KS-4C and can got 1.5 coin/day.

    And the price now is around 22 usd and seems still pump up in the near future. https://www.coingecko.com/en/price_charts/veriumreserve/usd

    Let calculate:

    1.5 x 30 = 45 coins

    45 x 22 = 990 USD

    10 x 13 euro = 130 EUR -> 160 USD (To renew kimsufi)

    990 - 160 = 830 USD profit!

  • kjl24kjl24 Member
    edited January 2018

    @Iam said:

    @rds100 said:
    So am i the only one who is not playing this game? I am neither mining nor trading with coins. Should i feel stupid for this?

    Mining VRM is still relative easy right now. I use 10 Kimsufi KS-4C and can got 1.5 coin/day.

    And the price now is around 22 usd and seems still pump up in the near future. https://www.coingecko.com/en/price_charts/veriumreserve/usd

    Let calculate:

    1.5 x 30 = 45 coins

    45 x 22 = 990 USD

    10 x 13 euro = 130 EUR -> 160 USD (To renew kimsufi)

    990 - 160 = 830 USD profit!

    where did you find VRM? it looks cool

  • IamIam Member

    kjl24 said: where did you find VRM? it looks cool

    Bitcointalk https://bitcointalk.org/index.php?topic=1540023.0

  • florianbflorianb Member
    edited January 2018

    For the moment Electroneum is the best choice baring in mind the value is going to raise up in the future. Currently taking into account 1KH/s on XMR gives you a plain profit of roughly $73 (~0.19XMR) without any pool fees or power costs, while ETN gives you whopping $228 (~1568ETN) which is a good factor of x3.1.

  • VRM is coming down and now it is at $12 after reaching $21 just a couple of days ago. Electroneum on the side doubled from 8 cent to 16 cent within a few days

  • @florianb said:
    For the moment Electroneum is the best choice baring in mind the value is going to raise up in the future. Currently taking into account 1KH/s on XMR gives you a plain profit of roughly $73 (~0.19XMR) without any pool fees or power costs, while ETN gives you whopping $228 (~1568ETN) which is a good factor of x3.1.

    Which pool do you mine? I mine at easyhash with around 1k hashrate on etn and only get 10 etns a day...

  • vfusevfuse Member, Host Rep

    @spammy said:

    @florianb said:
    For the moment Electroneum is the best choice baring in mind the value is going to raise up in the future. Currently taking into account 1KH/s on XMR gives you a plain profit of roughly $73 (~0.19XMR) without any pool fees or power costs, while ETN gives you whopping $228 (~1568ETN) which is a good factor of x3.1.

    Which pool do you mine? I mine at easyhash with around 1k hashrate on etn and only get 10 etns a day...

    nanopool gives about 34 etn per day for 1k/h

    Thanked by 1spammy
  • Newbie question - which software(s) are people using to mine Electroneum? And on which distro(s)?
    Figure I may as well give it a shot...

  • @vfuse said:

    @spammy said:

    @florianb said:
    For the moment Electroneum is the best choice baring in mind the value is going to raise up in the future. Currently taking into account 1KH/s on XMR gives you a plain profit of roughly $73 (~0.19XMR) without any pool fees or power costs, while ETN gives you whopping $228 (~1568ETN) which is a good factor of x3.1.

    Which pool do you mine? I mine at easyhash with around 1k hashrate on etn and only get 10 etns a day...

    nanopool gives about 34 etn per day for 1k/h

    Guess I went to the worst pool...but still this is way lower than the 1.6K mentioned by @florianb...I'll switch to nanopool then, thanks!

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