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I read that CPU mining is not good and everyone uses GPU.
Might have been better if you read the thread. It's full of people proving what you read wrong.
You really are bored aye
You aren't?
He needs (or needed anyways) to rack up 15 posts to be able to post an offer, so that's we're blessed with reading his valuable opinion on this thread as well.
So how much are people actually making? I don't care about the other numbers. If I rent a standard E3 CPU server exactly how many real $s do I gross each month for some of the more common virtual currencies. If there are fixed transaction fees then subtract those. If the response is that it depends on the virtual currency then pick one. If the response is that it varies based on prices then just use current prices.
Most of the arguments I am reading, about how it's about future value not current, are arguments for just buying the virtual currency instead of trying to mine it.
An E3 has a hash rate of about 300H/s on the Cryptonite algorithm. The highest yeilding coin is Electroneum, and at 300H/s, you might get around $18 /month at current prices and current difficulty.
The yield was very briefly higher, but that did not last long.
So it seems unlikley that you could rent an E3 server and make a profit from mining. No one is renting E3s for $20 /month...
Agreed. I do not understand the argument for paying more to mine than the value of the coins since if you believe the future value will rise, you should simply buy the coin. Anything else is just dumb.
You should bare in mind that the prices are so volatile, that using current figures are hardly very useful unless your mining capacity is so large, you can clear your earnings daily. If you imagine earning $18 /month from 1 server, how often do you think you could clear that out into dollars? Not very often.
Another thing to consider is that ETN is only tradable on 1 exchange, which does not do fiat clearing, which means you need to trade for another crypto, move that to another exchange, and clear there. That all costs time and money, so the $18 is gross, not net.
With that said, mining anything else, like Monero (the big daddy) currently yeilds less than half as much for the same hash rate. So less than $9 /month from the same hardware. So it's still better to mine ETN.
Another thing to bear in mind is the hassle factor. The time taken to order things, set it up, obsessively checking stats. If the opportunity is borderline it's probably not worth the time, after adding in your time.
Having idle or semi-idle servers mine something ain't a bad idea though.
The market seems relatively mature enough that large scale operations will hoover up any rented servers and will know very quickly which coin to mine and when.
I mined only the first 20 ETN to have some coins when the price rises. I still prefer verium.
Split up my machines from just ETN to ETN, SUMO, and ITNS.
Hopefully being more diversified limits any hits I take when the prices dip (though it'll probably still be across the board for all altcoins anyways).
Thanks. That answered all my questions. So the only profitable use case is if you already have the servers sitting around doing nothing and your costs are fixed regardless of whether the servers are being used or not.
Other than that, you make more money (or lose less) by just buying the coins rather than spending money mining them.
Pretty much. If you're renting the server for certain cases that mean the box idles most of the time, then mining can help offset the operating costs a little. But it's hardly much if it's just a single server.
It's mainly only worth it for providers who already have hardware.
With that in mind, electricity still costs. An E3 will probably burn over 100 watts if it's mining and the electricity will be roughly $10/m without considering the cooling costs. As such, it's not even profitable for most DC operators unless they have free cooling or very cheap electricity. For us, in HK, electricity is about US$0.14/kwh and cooling is required year round. So it would cost us about $20/month to run an E3 miner.
So actually we could not make money
Same, just KRB and one on Aeon as well. Not making nearly as much before BTC fell, but still able to pay for the servers I'm using.
BTC is finally going up again but it looks like it's not able to pull VRM and ETN
Maybe I should have stuck with xmr instead of switching to etn
Even now it's better to mine ETN than XMR. But you're better off converting to XMR or BTC straight away pretty much. I'm holding a few ETN only out of pure speculation that it might go back upto $0.20. If BTC and other top cryptos rally back to ATH figures, then the alt coins will follow with wild speculation and hopes and dreams of 'lambooning'.
A conservative miner would simply sell it all ASAP.
Still too lazy to change away from XMR. It may have at least some longer-term future, whereas ETN just seems to be a scam targeted at dumb people. (MOBILE MINING!!11 Just install a simple app on your phone and start EARNING IMMEDIATELY). That, and it's also just on one obscure exchange, adding to the hassle of switching to it.
I'll stick with etn then and see how it goes. When I started on it I thing it was 13p.
I still have a load of hodl coin waiting to mature but think it's worthless.
i keep my 100 000 etn until will be arrownd 0.80 - 1dollar. Finnaly was cost me less than 1000 dollars so if is grow i am rich , if is disappear this is the life.
EDIT : still mining etn in this moment but i change it in btc in the latest period.
What are the specs of your dedicated machine? Or do you use a mining rig? Thanks.
He will be using many many machines
As I understand, @Cociu has a large number of Dual Xeon L5640 servers. Practically any CPU that has AES-NI can mine profitably (from an electricity cost perspective).
He has hundreds of those machines? Add them all up and that's a pretty significant hash rate.
We have a lot of Xeon E5 and E3s servers, which are also technically 'economical' to mine with. All our spare CPU power ends up 'mining'. Got a few 10KH/s going. But we are talking a few 10 machines, so not a significant amount of hash power. I imagine if @Cociu has got over 100 machines mining, should be at least 50KH/s, which would be around US$3,000 /month worth of crypto. Minus electricity costs and that's profit!
yes we use some many servers
i will not invert in rig never , this is shit because the price right now is increased at least +40% of the real price , more what you do with the videocards in 6 month ? this is the most stupid inversion what i see , but every one have his opinion .... so you know mine . We use pure cpu wich we have free resources ...
Just using Nicehash is showing to be less risky and more Profitable for me
Including after all Nicehash fees?
Well obviously it's different for people like us. We are hosting providers with our own hardware. We are not actually miners. You mine because you have the resources. You did not 'invest' in mining.
If you are looking to invest in mining, GPUs have a much faster ROI, and generally a smaller footprint.
I don't know what hash rate you get from your L5640s (500h/s?) but if you wanted to compete with say a 6 GPU rig running RX570s, you would need 9 - 10 of your servers for the same hash rate. The L5640 is not going to be as power efficient either, so your hash per watt will be lower.
If you want to get into mining, just looking at the rate of return, GPUs make much more sense.
Another thing to consider is that GPUs have been increasing in value. Anyone who bought $10k worth of GPUs last year could sell those GPUs today, probably for $15k, even though they are used. And in the last year if they were selling straight away, they probably would have made around $40k! If they held, they may have as much as $80k in crypto by now.
No idea where things will be in 12 months time. GPUs may crash, or they may be even more valuable. Who knows?
yes we do not know , but .... what we all know is the price was growing , the manufacturiers is now looking in this profit ... so cheap GPU in the near future ? definetly no..
L5640 i got in the best settings arrownd 380 h/s (in this case the consumition of server is much less ) and i am content with this. Also we have not spend many time to investigate how is more profitable because this for me is a real play , so i play when we have time, i like to trade so .... way not ?
Like I said. For people like you and me (hosting providers with own hardware), it's a no brainer as there is no real cost.
But for people who want to get into mining, servers / CPUs are not really a good investment. The ROI is long. Even for us, it's far more attractive to rent out the server rather than put it towards mining. Server rental prices are always more than what we can mine, and mining uses more electricity in general.
Also, we can use the servers even if the crypto crash renders GPUs useless. But people will have no need for so many CPUs/Servers. It will all end up on E-Bay. But at least it will hold it's value better than a GPU.
pure CPU mining BitZeny and Yenten
https://bitzeny.tech/en.html
https://conan-equal-newone.github.io/yenten/index2.html
you can't mine with asic or gpu. only CPU