Anyone working with coin mining?

D

dealeris

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I read BHW a lot, but i haven't seen many topics about earning money from crypto currencies.
Currently there are some very hot new crypto currencies, which are based on CPU mining & cryptonote technology and could be a competitor for bitcoin.

The first one of these new coins is called Bytecoin and the most popular one is Monero.
Today Monero trading volume was about 450BTC - so there is a lot of money in this.
I myself opened a pool for mining monero: pool.cryptoescrow.eu and i am looking to find some partners whom would be interested in mining any of the cryptonote currencies and maybe rent some cpu power or create other kinds of long term partnership.
Looking forward to hear your ideas on this market and maybe find we can find something we can work on together.
 
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How does this coin gets mined?

Like the Bitcoin or like the litecoin? and how much power do you need for a block? how much does a block contain?

YOu know i have been in the mining business before, i know the crucial points in mining.

On wich values you choose what coin you mine? If you only do it on the worth price you doing it wrong.

We can do a partnership on this but we have to work something out, this i dont want to do on a public thread.
 
HeavaZ said:
How does this coin gets mined?

Like the Bitcoin or like the litecoin? and how much power do you need for a block? how much does a block contain?

YOu know i have been in the mining business before, i know the crucial points in mining.

On wich values you choose what coin you mine? If you only do it on the worth price you doing it wrong.

We can do a partnership on this but we have to work something out, this i dont want to do on a public thread.
Click to expand...
This is a new technology. Coins are mined using cpu power(the most effective way)
One block contains ~16 moneros, average i5 processor has 100h/s speed, current difficulty is ~477 millions, today you can mine ~0.28XMR/day, or ~$1/day.

I monitor the difficulty increase, sales volume and some other factors when i choose which coin to mine.
Email me at: pool[eta)cryptoescrow.eu if you have any ideas regarding this.
 
Can anybody please explain me the concept of coin mining.
I would love to learn about coin mining.
 
llcjns said:
Haven't all the bitcoins already been mined?
Click to expand...

There are plenty of altcoins. I suggest you check out PotCoin, it goes along with a "new market" (Legal Marijuana); and they have just donated a bunch of money to a medical cause. I have been with them since the start, and there is still tons of potential. POT (the PotCoin ticker) has gone up half a cent in the past day.
 
Its hard to make money mining these days, better to trade or hold the different currencies.
 
yea from what I know and read coin mining are less profitable now than a few years ago. The price you will have to pay for power consumption is pretty high compared to what you will earn. but if you dont have to pay for the electric bills than its still good. I just leave my computer on when going to work. my ADM r9 280X got some nice hash rates.
 
We do Bitcoin mining. We have one room full of computers mining BT 24x7

Have fun, there a lot of sites selling special hardware for mining.
 
Hi Dealeris,

Yeah, I'm into coin mining and it depends on which hardware you are using - hash power, 24/7 running costs etc.

Cheers,
Commoner
 
i tried but i did not make a lot due time and electricity ,it's tuff to make a lot of money there
 
Can anyone redirect me to a thread explaining coin mining? thanks in advance! :)
 
Can anyone post step by step process of Coin Mining plz ? All the info we get here are not full.
 
Zzzzz.... said:
Can anyone post step by step process of Coin Mining plz ? All the info we get here are not full.
Click to expand...

I guess no one will gonna do that but you are lucky, you can search it on google man!
 
Whoever want to mine Bitcoin forget about it ! Even for Litecoin !
If you don't have more than 10$k to invest you will not be even with your power bills ! This could be big thing before years not now when there are factory size rooms filled with miners and they work 24/7 all around the year ! If you want to mine with your computer / or even your comp. network you will get more likely to pay more in electricity bills than you would "mine" !
 
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