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Anyone working with coin mining?

Discussion in 'CryptoCurrency' started by dealeris, Jun 14, 2014.

  1. dealeris

    dealeris Newbie

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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.
     
  2. BOOBOO

    BOOBOO Newbie

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    Hi pm me I would like to help
     
  3. dealeris

    dealeris Newbie

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    Cant send pm's yet, email me at pool[eta)cryptoescrow.eu
     
  4. HeavaZ

    HeavaZ Newbie

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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.
     
  5. dealeris

    dealeris Newbie

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    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.
     
    • Thanks Thanks x 1
  6. Castiel999

    Castiel999 Junior Member

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    Can anybody please explain me the concept of coin mining.
    I would love to learn about coin mining.
     
  7. llcjns

    llcjns Registered Member

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    Haven't all the bitcoins already been mined?
     
  8. SPQR

    SPQR Elite Member

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    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.
     
  9. tvfreak

    tvfreak Newbie

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    Its hard to make money mining these days, better to trade or hold the different currencies.
     
  10. durin667

    durin667 Newbie

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    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.
     
  11. Basenix Group LLC

    Basenix Group LLC Regular Member Premium Member

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    Occupation:
    We make people earn money.
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    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.
     
  12. rubberneckin

    rubberneckin Newbie

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    I'm mining californiacoin
     
  13. theakway

    theakway Newbie

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    Far from! Barely half of them have been mined!
     
  14. TraderIndustries

    TraderIndustries Newbie

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    I enjoy doing custom contracts for others to do my mining. Is Monero gaining any more attention?
     
  15. Commoner

    Commoner Power Member

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    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
     
  16. Pejlis

    Pejlis Regular Member

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    i tried but i did not make a lot due time and electricity ,it's tuff to make a lot of money there
     
  17. PPCPro

    PPCPro Registered Member

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    Can anyone redirect me to a thread explaining coin mining? thanks in advance! :)
     
  18. Zzzzz....

    Zzzzz.... BANNED BANNED

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    Can anyone post step by step process of Coin Mining plz ? All the info we get here are not full.
     
  19. topmm

    topmm Regular Member

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    I guess no one will gonna do that but you are lucky, you can search it on google man!
     
  20. TrafficWizard

    TrafficWizard Junior Member

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    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" !