Cryptocurrency world - Selling hashpower, mining, and making money

[DirectorGunner]

I'm using Awesome Miner with a premium license so I can track all my data
http://www.awesomeminer.com
It takes a bit more to setup than nicehash, but the GUI is pretty straight forward.
Has a windows 7 app feel to it, not too convoluted, options make sense.
Unfortunately all the features aren't free. A premium license costs $140...
but for me, If figured it's worth it so I have a recorded history of work done.
And with API access, can see balances of nearly any cryptocurrency wallet there is.
I tried etherscan.io but that one doesn't seem to work even though I have an API key.
Also I don't know how Monero works but seems I can not see monero paper wallet balances easy....
Seems one has to download the whole blockchain and run a calculation of all transactions to an address to see the balance in that address.
Still working on figuring things out... losing some sleep over this lol

Using the built in pools for awesomeminer but can add other later,
zpool pays out at around $150-ish or more (of BTC value this evening) daily or ~$24 or more (of BTC value this evening) every Sunday... whichever comes first. So I'm running two workers to get to this $24 payout amount by Sunday.
If I get a deposit into my BTC paper wallet... I'll be very happy, confident.. and will then look for other pools to join and mine alt coins directly instead of being paid in BTC from zpool.
Zpool does offer payment in other currencies but I haven't figured out how to set that up yet.

I'm interested in vertcoin right now. I think I'll mine that with one rig, and then ETN or monero with another rig.

P.S.
BE very cautious about buying currencies directly and especially don't leave your currencies in exchanges.
About transferring out of exchanges, I've been reading that for currencies like ETN if you don't include enough "gas" your transaction might not go through.
I'd immediately transfer my purchased currencies into their own respective paper wallets.

 

[zeddie]

I just finally had time to set up my OneClickMiner for Vertcoin yesterday. I was getting ~67Mh/s with auto intensity (it set to 21-22) on my 1080Ti. Direct deposit into my Core wallet. I also set up a Bittrex wallet to transfer into BTC, to then transfer to my other BTC wallet to extract as FIAT when needed.

The only thing I see is that the payout is quite "random". Some days you don't get any, while other days you can get multiple VTC. Fingers crossed.

 

[DirectorGunner]

I just finally had time to set up my OneClickMiner for Vertcoin yesterday. I was getting ~67Mh/s with auto intensity (it set to 21-22) on my 1080Ti. Direct deposit into my Core wallet. I also set up a Bittrex wallet to transfer into BTC, to then transfer to my other BTC wallet to extract as FIAT when needed.

The only thing I see is that the payout is quite "random". Some days you don't get any, while other days you can get multiple VTC. Fingers crossed.

That's the luck factor, to mitigate that you'd join a pool. Your luck factor improves if you scale AFAIK. Are you not in a pool for Vertcoin?

 

[Xist]

If you don't mind, why do people make a new wallet for each transaction? What benefit is there to that?

The reason is for security. Once you send money from a wallet, you have told the internet what your password is.

If you used your phone and your phone is hacked, the hacker can now steal all remaining coin from that wallet.

Even if your phone is safe, maybe your network got hacked. Maybe someone looked over your shoulder while you did it. Maybe a security camera somewhere saw it.

You really have no way to know if it's safe or not.

The solution is to assume it's never safe. Never. You used your password, so now it is compromised and you must never use it again. To satisfy that requirement, you need a new wallet for every transaction.

You can receive money infinite times to a single address, but the first time you transfer coin out should also be the last.

If you have 10 coins and you want to send me 2, make a new wallet for yourself. Send 2 to me, immediately send the remaining 8 to your new wallet, and now you don't care at all if your password was compromised or not - you're still safe. (It's best to have previously created alternate accounts when you *know* you're in a secure environment, with an offline computer that never ever connects to the internet, etc).

This is for big money transactions. If you're just dealing with a couple bucks and you don't mind being robbed, it's probably overkill.

 

[Maxgerber5250]

We need to start a TEST pool. we have a lot of ships to buy.

 

[zeddie]

That's the luck factor, to mitigate that you'd join a pool. Your luck factor improves if you scale AFAIK. Are you not in a pool for Vertcoin?

yeah I'm in a P2Pool in my city with 1% fee. I'm using Network 2 because it's under 100MH/s as they suggest.
Currently running 69MH/s with single 1080Ti.

My node stats: http://142.44.243.197:9181/static/

still no shares yet =(

 

[DarthMatter]

Just noticed.
You make as much coin in 24h as I do in a week :P

 

[DirectorGunner]

Just noticed.
You make as much coin in 24h as I do in a week :P

Only if the pool server isn't broken!
I've had some real bad luck with pools.
For example overnight, contributing ~200MH/s on Lyra2REv2 with ccminer for a VTC pool, ~5k shares, only 0.03 VTC.
Fuck that pool (poolmining.org = shit). So I'm trying easymine.online right now to see if their pool is better.
I also don't like zpool.ca, their payout system is shit and I think they're share count/payout amount is shady too.
I noticed differences in what I should have over what they're claiming I should have.
So the hardest part about all this.. is just finding the right pool for your hashpower and algo.
Btw, Vertcoin gets halved Dec 12th.... so MINE THE SHIT OUT OF IT.. before Dec 12th.
I need to fast track my exclusive mining rig to get my 4 other GPUs running.
Just the server case is raw steel and local powder coating service wants to charge me $140 to coat it. gah! robbery everywhere.

We need to start a TEST pool. we have a lot of ships to buy.

I'm down for that if we get a good hashrate going and add p2pool to server to boost block finding.
AFAIK the reason poolmining.org sucks ass, is because he solo mines with the pool instead of using the p2pool network. And he has a ton of server bugs as well with difficulty %, worker hashrates, share counts, and payouts.


btw, if you guys are using Awesome Miner and are mining Vertcoin,
you can add your vertcoin wallet to the balance tab by using this URL for the api feed for vert wallets.

https://chainz.cryptoid.info/vtc/api.dws

 

[Ganji]

Just like during the Gold Rush, most miners didn't get rich, the people who sold the miners supplies made all the money.

the picture is from Onion, but it's still funny :D

 

[DarthMatter]

Has anyone used "Whattomine.com", or have any idea of how accurate it is?

 

[BUTUZ]

Yes it's what most people use, it's pretty accurate as long as you enter your GFX card details accurately.

 

[DarthMatter]

That was what I was afraid of...
I've been running some numbers, and for $5000 I could make about $950 per month.
As a student with no monthly income but money at the bank, and living-expenses at maximum $500-$550/month... those $950 looks really attractive.

Edit: just above $1000/month now that the coin-value updated

 

[BUTUZ]

That was what I was afraid of...
I've been running some numbers, and for $5000 I could make about $950 per month.
As a student with no monthly income but money at the bank, and living-expenses at maximum $500-$550/month... those $950 looks really attractive.

Edit: just above $1000/month now that the coin-value updated

Just be careful. Mining income is always at an exaggerated high when price spikes and all time highs are achieved. It's usually half what it is now. Your 950 a months could become 400 a month in just one month.

 

[DarthMatter]

Just be careful. Mining income is always at an exaggerated high when price spikes and all time highs are achieved. It's usually half what it is now. Your 950 a months could become 400 a month in just one month.

Thanks for the warning. Since I just started I have no idea what "normal operation" would be like.
I've been planing on buying a new graphics card for a while anyway and figured I could keep that card on mining for a month or two, just to see my actual results before I build a dedicated system with 4-6-10 of them. And maybe the market will have become a little more stable after media no longer finds it funny (or possible) to publish "Bitcoin past new record" headlines.

 

[DirectorGunner]

Thanks for the warning. Since I just started I have no idea what "normal operation" would be like.
I've been planing on buying a new graphics card for a while anyway and figured I could keep that card on mining for a month or two, just to see my actual results before I build a dedicated system with 4-6-10 of them. And maybe the market will have become a little more stable after media no longer finds it funny (or possible) to publish "Bitcoin past new record" headlines.

Just be careful, take baby steps. I got 3 new 1080tis, and have had the misfortune of trying really bad pools that miscalculate shares, not finding the right amount of blocks per total pool hash power, crap payout methods. So my estimated $7 a day per card from whattomine.com and even awesome miner I discovered is bullshit because it assumes your pool performance is at maximum. Not to mention currency values fluctuate constantly. It's deceiving looking at that awesome miner says you're mining at ~$7 a day per card and only seeing this in your account balances after this long.

btw Zpool hasn't paid me yet, requires 0.0015 BTC or something, and I've had one 1080ti mining there for days. And when I discovered my other two were mining in a bad pool I'd have all 3 cards mining zpool until I found a promising pool to put 2 of the cards on again. Based on amount of work done, I should have had at least two payments by now. Soon as I hit that min payout.. I'm stopping mining there forever and mining in a different pool
And my BTC balance would have been a lot more if I had just withdrawn my nicehash before it was dev stolen.. I mean "hacked".
Here's what my zpool "payout" data is right now
{"currency": "BTC", "balance": 0.00077263, "unpaid": 0.00081981, "paid24h": 0.00000000, "total": 0.00081981}
^ That is bullshit!

So... if you're planning on dumping a ton of money on mining rigs... dial it back a bit to get your feet wet first and through your painful growing pains. Scale when your performance is doing really well. And monitor daily, pools fluctuate in performance hourly it seems. Anyone else care to weigh in?

 

[BUTUZ]

Thanks for the warning. Since I just started I have no idea what "normal operation" would be like.
I've been planing on buying a new graphics card for a while anyway and figured I could keep that card on mining for a month or two, just to see my actual results before I build a dedicated system with 4-6-10 of them. And maybe the market will have become a little more stable after media no longer finds it funny (or possible) to publish "Bitcoin past new record" headlines.

Yes I am not saying not to go for it I am just saying that mining income goes up and down like a yo yo usually, and it's up at the moment.

 

[zeddie]

I haven't gotten a single payout from that pool for a whole 24 hours so I found another pool, and I've so far gotten 0.9VTC in the 36 hours I've been running. That is more in value than I was making with NiceHash.

The new node has a MUCH lower reject rate (down from ~40% to 15%) so I guess that was the reason for not having any payout.

edit: as of this moment, the Vertcoin halving happened, so the "hash rewards" have been halved.
some miners should be switching to others while others will stick around with lower rates for a bit.

I'll see how much of an impact it has to my share rate in the next week. (I have 1.46VTC at the moment of halving) The difficulty should lower as well in theory as more people leave, so hopefully it balances out relatively quickly.

 

[Jamison]

Yeah this is why i updated all my passwords and made them extremely confusing and difficult. Somtimes sites are like "You have to many characters for a password" I wish i could just use Common access cards for everything having a physical item will always be the most safe method to secure stuff. If they dont have it they cant hack it right?

You could always go second form authentication.

YubiKey 4 https://www.amazon.com/dp/B018Y1Q71M/ref=cm_sw_r_cp_apa_SunmAbSVVGVF2

I've used this before, and there's one that does nfc as well for phone.

Pretty cool stuff and very inexpensive.

 

[Sirus7264]

You could always go second form authentication.

YubiKey 4 https://www.amazon.com/dp/B018Y1Q71M/ref=cm_sw_r_cp_apa_SunmAbSVVGVF2

I've used this before, and there's one that does nfc as well for phone.

Pretty cool stuff and very inexpensive.

can you have duplicates with the same private keys though?(backup in the case where your usb is destroyed or damaged.) Ive lost 2 factor authentication before and it sucks when you do.

 

[Jamison]

can you have duplicates with the same private keys though?(backup in the case where your usb is destroyed or damaged.) Ive lost 2 factor authentication before and it sucks when you do.

Each token is individual, but for the services that I use, you can have multiple tokens associated with that service.

You can totally have a second key in a lock box if you lose the first.