Monero mining calculator pool
This was written off and on over a couple days so some of the figures listed e. Ever wonder if your PC could be used as a profitable mining rig? You may be surprised what you find! Take my rig monero mining calculator pool example, a second hand gaming machine that a friend decided needed replaced while browsing Amazon over a few drinks a risky activity.
I was surprised to find that there may be some profit in mining monero mining calculator pool. I was even more shocked to learn that my friend forgot to talk to his wife before making his ethanol influenced transaction a much riskier activity. With him in the doghouse and me excited to research PC mining, I dove into forum after forum to see what I could find about mining a crypto that I was already interested in, Monero! Now that I'm up and running, I'm excited to share what I've learned with the steemit community.
First, I'll provide some resources you can use to determine what kind of performance and profit or monero mining calculator pool you might be able to get from your machine. Then, I'll share with you how to get your machine mining. Finally, I'll present some views on why you may or may not want to pursue this venture on your machine.
See this Reddit forum for reference. Once you're up and running, you'll be able to check the performance of your machine. Click here for the most helpful site I've found so far to lookup the expected performance of your GPU. You could attempt to look through all the components of your PC and estimate the power consumption, but you'll find that will monero mining calculator pool be completely accurate. The best option is to purchase a plug in power energy meter to measure your PC's power consumption.
It's important to note that while mining your power consumption monero mining calculator pool increase due to the increased load on the GPU. In order to get the most accurate measure you can, you should try to find ways to get your GPU monero mining calculator pool hard you may want to just install and run the monero mining calculator pool to see the most accurate results.
After you've estimated the power consumption of your machine, you'll want to compare that usage monero mining calculator pool the rate you are paying for electricity. If you fall into the bucket of people who always have their PC running I suppose you could calculate that adjustment as well. Remember in high school math class when you proclaimed to your teacher or quietly to yourself that you'd never need to know the subject material again? Undoubtedly, someone has tried to explain that the material would be important one day.
They may have been right, but today is not that day! There are several mining calculators out there that you can use. I used this calculator from cryptocompare. There are other factors that could come into play depending on monero mining calculator pool calculator and how you choose to mine.
If you are using a mining pool instead of solo mining more details laterthere monero mining calculator pool be a mining pool fee associated that can be plugged into most calculators.
You may also need to provide difficulty levels or block rewards for some other calculators. I won't try to calculate depreciation in this guide as it could also be argued that the technology monero mining calculator pool obsolete faster than it depreciates from mining depending on monero mining calculator pool cutting edge you are. If you've finished your estimation and have found that you will be losing money or breaking even, Monero mining calculator pool would recommend at least reading through the last portion of this post.
There may still be reason to mine as strange as that sounds. If you've found that you will profit from this, let's discuss how you can get started mining Monero! You'll want to make sure that your machine has updated display adapter drivers. You'll also want to find and kill any unnecessary processes that could be using up resources on the machine.
You'll need to decide on a mining program to install on your machine. Make sure you do your due diligence before installing a program to make sure you can trust the software. You may be able to recompile some of these miners to remove that dev fee, monero mining calculator pool I'm an advocate for paying people for their work so I did not remove mine. Here are a couple miners I was researching when I set up my system.
To install this program and get it up and running, you'll need to download the. Then, you'll need to make some edits to the config. You have two options, you can find a mining pool to join or you can solo mine. Statistically, you're very unlikely to have the machine that solves a block solo mining because you'd be competing with all other machines instead of sharing resources with an entire pool.
If you do solo mine and get lucky enough to solve a block, you'll have a much greater reward as you will get the entire block reward to yourself. Currently, this reward is around 5. Most people gravitate towards a mining pool. Some mining pools will require user registration to join whereas some can be used anonymously.
Here are some mining pools you can look into. The main monero mining calculator pool for going with a pool is you can get incremental bits of Monero over time as the pools combined resources will hit on blocks on a more regular basis. For my experiment, I used DwarfPool as it was one that did not require a user registration, allowing you to mine anonymously. It is not the lowest fee pool or the largest pool, you may weigh out your options and decide that a monero mining calculator pool pool makes more sense for you.
If you decide to go with DwarfPool, you'll notice that there are multiple ports you can use to mine. These ports relate to the difficulty level you monero mining calculator pool trying to achieve on your machine. I tested a few ports and found that I was only able to stay monero mining calculator pool to the lowest performance one consistently and I wasn't getting any additional hashes on the others anyway so I stayed with the port.
You will also need a Monero wallet to deposit your rewards into. The most popular option is the wallet from the Monero website here. There are other wallets out there you can download, but since I'm not informed on those I won't discuss those here.
Another option is to deposit directly into an exchange account like binance monero mining calculator pool bitfinexbut you may pay a larger fee when transferring money to an exchange. Once you have a wallet you will want to find your wallet address.
If you went with the wallet from the Monero website, you can find your wallet address in the interface that was downloaded by hitting the receive tab. When you first open Monero, you will see that it begins syncing with the Monero blockchain.
This process can take quite a while to complete, but if you are mining on a pool you can generally dictate when funds are transferred to your address so there's no need to wait for synchronization to complete to start mining.
If you're still hanging in there, I'll make this last section rather brief. If you are wondering if the payout is worth it and monero mining calculator pool to decide if you're going to mine Monero, don't forget to factor in the future value of the mined currency. If you think about the adoption level across the world, there is a LOT of room left to grow for crypto. Take a look at the Monero project and the trends crypto has followed and figure out what kind of growth you think could monero mining calculator pool expected in the next year.
There's no guarantees in crypto, Monero has competitors on the market now and things could turn south, but Monero could monero mining calculator pool blow up and turn a small amount into a nice chunk of change you didn't have before.
Monero Mining - how to estimate profit and configure a miner on your PC. How to mine Monero on a PC Note: Estimating Performance How does your machine mine Monero? How to estimate energy costs You could attempt to look through all the components of your PC and estimate the power consumption, but you'll find that will never be completely accurate. How much can I make mining Monero? How to begin mining Monero PC System Preparation You'll want to make sure that your machine has updated display adapter drivers.
Mining Program You'll need to decide on a mining program to install on your machine. Once you open this file, you'll want to find the below line to make your changes. You'll need to enter a pool address as shown below. Typically, your mining pool website will tell you what this address should be. Some pools may also require a pool password. Since this gets outside of my wheelhouse at the moment, I wont embarrass myself trying monero mining calculator pool make recommendations here.
If monero mining calculator pool find that you are not getting the expected results, you may have to do some additional research to get things tweaked for peak performance. Mining Pool You have two options, you can find a mining pool to join or you can solo mine.
Monero Wallet You will also need a Monero wallet to deposit your rewards into. Pros and cons of mining Monero If you're still hanging in there, I'll make this last section rather brief. Authors get paid when people like you upvote their post. Thank you for the post. I will try it on my pc.
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