When Bitcoin started it was made so any average person could mine it on their home computer. Currently difficuly is too high but still there are many coins which can be only mined on CPU/GPU or that are at least still worth it.
Lets have a look on whats the best now.
CoinWarz
So ZEC and its forks ZCL ZEN are the best. Ethereum on second place. Worth noting that ETH soon will go into PoS mode so mining this might be historical soon.
Minergate
This guys in their auto app choose XMR for now for GPU and in CPU. Whats cool in latest app version is that you can withdrawal coins mined right from the app, dont need to get on website at all (need to register first HERE).
NiceHash
Their app auto chooses what to mine and currently its XMR algo.
What To Mine
Interestingly it says SUMO is the top coin for payment, then we have XMR (which SUMO is fork of) and then NiceHash.. Possibly people mine SUMO today for payments on those.
Summary
If you are very lazy go for MinerGate since they are on iMAC,Linux and Windows. If you are little less lazy and want better profits mine directly ZEC or use NiceHash but windows only or you have to point your miners ot them directly.
in CPU XMR Monero wins, no doubt in this.
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The internal exchange between the entire virtual currency and RMBs in Bitcoin, the Ethernet area as the representative of the whole term is closed, but not to regulate the virtual currency itself, there is no prohibition of virtual currency one OTC.
The regulators decided to close the exchange of virtual currency in China, which includes the exchange between all "OKcoin", "Fire currency net" and "Bitcoin China" and another virtual currency with legal tender presented. Figure / Vision China
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[Financial New Network] (reporter Peng Kin Kin-Uu Yujian) regulators decided to close in the Chinese virtual currency exchange, which includes among all the "OKcoin", "Foreign exchange currency" and "Bitcoin China" and other virtual currencies with a legitimate payment By means of the stock exchange, new financial reporters are approaching the Internet of financial rectification risks, the work of the group's leading office (hereinafter referred to as the lead group), which confirmed this news, and learned that the permit is currently deployed to the field.
September 8, the third party trading platform, the network of cross-country issued a statement in accordance with the spirit and requirements of September 8 in Beijing financial conference work on September 5, from the day 17.30 to suspend trading in all currencies.
This is still a regulatory action after the People's Bank and the other seven ministries, together after September 4, jointly notice (further notice). The above statement by ICO (initial coin placement, initial public sale of coins) as an "illegal financial activity" and ordering since the announcement, ICO ban on new projects, projects to limit the stock of repayment. All ICO tokens trading platform must clean the deal.
The purpose of the regulation is not limited to now more than 60 ICO tokens trading platform, we will not participate in a number of trading platform home ICO virtual currencies are included in the purification volume critical to the completion time.
"In other words, the future can not have a so-called trading platform between virtual currency and legal tender in China." The closer to the leading group said: "Thus, there are no so-called markers, virtual currency, and there may be twenty or two problems between the PQM can not be sold. "
Regulatory research of virtual currencies of trading platforms did not suddenly strike, but at the beginning of the research was at the beginning of the year. Currently, the management team has made this decision and careful measures.
The central seven ministries in the announcement jointly issued on September 4, the signal was issued for this: The third announcement "Strengthening Financial Trading Manager token trading platform," noted that since the notification, any so-called financial transaction markers platform should not engage in legal tender and lexemes, in the "virtual currency" traffic exchange among themselves, can not be sold or used as a central counterparty of trade tokens or "virtual currency" should not provide For information about the prices of intermediaries as a token or a "virtual currency" and other services.
It should be noted that this decision to close the trading platform between the virtual currency with legal tender, which only prohibits the floor to trade virtual currency in China, and does not prohibit all virtual currencies with legal tender in the territory of China's trade. "In order to close the exchange Bitcoin no. For Bitcoin »the leading group that stressed the previous closure, suppression and Bitcoin-related activities related does not affect the development of the block chain technology.
In accordance with the position close to the leading group of sources, in terms of risk prevention, so that virtual currency and legal tender from the sex trade activities from China, the main market risks, financial risks and social risks at three levels.
The distorting effect of the secondary market
Since 2013, regulators have felt a great risk for the distorting effects of the secondary virtual currency market. At that time, Bitcoin volume transactions in China, and more than ninety percent of world trade volume, and Bitcoin pushed a record high of 8,000 yuan. PLAY INDIVIDUAL
interesting... Russia is mining moons more bitcoin than a year ago...
wow
Thanks a lot for your suggestions for mining of future currencies.
Someone needs to create a site that shows real time the changes in profitability mining different cryptos. Or is there one and I have missed it?
I do still like the fact of coins that can only be mined by CPU it seems to be the best in terms of an even playing field for everyone because everyone has a CPU! But not everyone has a GPU.
One thing you can never predict though is a coin that might not be profitable to mine today could actually be easier to mine today and jump in price making it the most profitable. I say mine whatever you believe in and like.
That's true. I believe in mining a fair quantity of variety of coins giving the options in future to get good rewards.
Although CPU mining is possible, but will be much slower that GPU mining. Even if you get one nice card, you will get a lot of profit than CPU mining. So in my case, I bought a nice card to get better profits. Still in testing phase, so lets see how it works out. :)
What GPU are you using, if I may ask?
You didn't seem to have trouble in buying one(?) I'm in Malaysia and GPUs are in short supply. When they are available, sellers would ask for a rather high premium. There's an online business of unoffical `resellers'. These guys would buy as many GPUs as they can with the sole intention of selling these to others.
Its a Zotac GTX 1060. Had to buy a new one. Already lost a bundle trying to purchase them second hand (fraud sellers). Its not exactly great, but good enough to mine newer coins.
Can't mine ETH with this card.
you can. there is even a claymore dual miner for nvidia. so you can mine ETH and SIA at the same time for example. or any other coin with equihash algorithm. dont want to post the link here... miners are sometimes trojans and i dont want to spread this. never tried the nvidia version, amd works great! cheers
I tried mining with minergate on i7 system with 6 threads, but maximum hash rate it showed was around 40 H/s, and consumed ~98% CPU usage on 6GB RAM. GPU mining might be beneficial.
Thanks for the feedback.
Was toying with the idea of mining something on my i3 8GB RAM desktop. But after reading your comment here, I guess I should be sticking to POS :)
I am able to get the same hash rate on my i5 2520m 8 GB ram. Interestingly my huawei p9 lite is able to mine at 22 H/s.
All using minergate xmr mining.
I use two dell t54oo workstations with dual 3.0 cpu's... which is total 8 cores each which pushes close to 139 h/s each and one t3400 dell at two cores for a total of 455.1H/sStatus:ONLINE
Active workers:3 on minergate. it only brings in about $20-25 a month.
Accessoriesbay: Join me on minergare- https://minergate.com/a/b6fc43be558cac6e15e56ecd
Some of the lesser-known coins do have much lower system requirements. Like Evergreencoin (EGC) which uses a hybrid POW and POS system. One won't make big money from mining like with the popular coins (provided that you discover blocks often enough). And you'd need to also own and stake these coins. But it does provide some reward for those who help support the coin by running a node on their laptop/desktop.
By the way, I'm running EGC and Navcoin nodes on a humble 10-year-old Dell laptop. While using it for browsing and word-processing. Every so often, my laptop would successfully discover a block and I'd get a small reward. But it's being involved and contributing to a coin and its community that's my main objective here.
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Great info, thank you
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Honest question, how much power my PC does require for some decent mining like this? I think I need a new PC for this and that is investment :)
Try this 2 services mentioned, do benchmarks and they will give you average
Does this mean, we can directly mine even without ASIC using our PC?
Yes. As far as I know all the ASICs out there will only do SHA256 (though some might be even more restricted to only work with BTC). Some hash algorithms would be prohibitively difficult to put into an ASIC. There might be some other algorithms that could go into an ASIC, but that are used on coins that just aren't worth the development effort to do so.
Whatever the reason may be, it puts everyone on much more "even footting" when it comes to mining.
Asic can do scrypt, and some can do x11 too.
Yes Some asic and gridseed miner's do both. This is more for bitcoin, litecoin and Ethereum mainly. If you use EOBOT https://www.eobot.com/user/822288 and tie your miners in than you can mine multiple algorythems providing you use your miners to gain cloud mining power. This is also a great way to get more mining power for a low budget
@markosky just use the nicehash profitability calculator (https://www.nicehash.com/?p=calc ). Select your gpu or the gpu you are looking to buy. It will tell you how much power the gpu will use, what will be it's hash rate, What will be your Return on Investment (RoI), your profit and how much you will be making on daily basis
Hope that helps :)
Thankyou @kartikbholla
I tried to look for my hardware....LOL. I don't have anything like those expensive requirements.
I have an I7 950, 12GB ram, 2x amd 5770 in crossfire. It plays my steam games on windows just fine, and linux of course its a beast. So why is it so hard to mine with old hardware ? I would think it would be just the opposite. This is my first post in the community !
Additionally I would like to see a comparison of best POS coins and their returns after investing.
STUPID QUESTION ALERT!
Does this mean I could use an old computer to mine that stuff? Then trade what I mined for something else?
yes you can but electricity may make it not worth ;)
Yes you can but your hash rate may very slow and your earnings not satisfy you. Also you can use minergate mobile app and desktop version same time for up your hashing power.
hmmmm.
tell me more about this minergate, why should I trust it? How do I know it's not like Genesis CloudMining?...what's in it for them?
You'll probably have to do some research on it my friend.
Actually why i am trust it i don't know and i can't explain you to why should you trust it 😊Just i use it and i know it's not a scam.
"Payment proof listed above" Join today: https://minergate.com/a/b6fc43be558cac6e15e56ecd
@everittdmickey The best bet is to run either minergate or nicehash for a week and review your earnings. That's what I am doing right now. It's my 8th day mining using nicehash and it shows that I have earned $15 so far in bitcoins.
hey mate what gpu are you using and what are you mining?
What is the minimum investment to be made?
Thanks
It's my almost 1.5yr old pc with a GTX 1070. That's the only gpu I have right now.
I build that pc for around $900 USD for my college work and VR development on Unity3D.
But started mining just a week back using nicehash, I'm also thinking of adding another gpu (GTX 1080 TI maybe) soon.
If you are starting out for mining from scratch I would suggest to stay away from AMD gpus coz they cost same as nvidia ones but use more electric power to run. In comparison my 1070 uses 150W for the same or even better performance than RX480 that uses 250W.
Use the nicehash profitability calculator (https://www.nicehash.com/profitability-calculator) to estimate your daily earnings.
Have fun mining :)
This program Also allows you to buy hashing power to help with the mining expense as of electricity and equipment cost.
Thanks for the info, im thinking start mining, this will help me getting started
Keep up the good work
Start with Minergate or nicehash. Very newbie friendly while also being profitable.
@johnycrypto Hi5 bro, I just started mining a week back using nicehash. It's really simple and newbie friendly. Post your config too. Happy Mining :)
I saw nicehash in Digital Gold youtube mining videos, check it if you dont know. Is very good because calculates de best coin to mine, benchmark the components, all with a simples clicks.
Thanks all for the comments
@kingscrown What do you think about the new D3 Bitmain has been schilling out ? last batch just sold out and delivery is late November.. it mines at 15 GH/s BUT i am worried that by end of November the difficulty on Dash will be so dam high because of this it may not be profitable.. Right now 15 Gh/s on Dash makes i think 150K a year BUT thats before all these D3s are hitting the chain.. So i am not sure to buy one or not
its great but as you noticed hard to buy
What does it mean when ETH goes PoS?
And other question about my mining "rig": I have two rx 480 GPU and ryzen 5 1600 CPU. What should I mine?
In this moment I am mining only ether but should I change to some other currency?
Xmr is good for real
just amazing knowledge by you, I do at present like the reality of coins that must be mined by CPU it is by all accounts the best as far as a notwithstanding playing field for everybody in light of the fact that everybody has a CPU! Be that as it may, not every person has a GPU. best of luck
great! thanks alot for sharing, I used that for some time. Might start again
Would have been awesome to mine BTC back when laptops were useful. Then again BTC was virtually unheard of at that time.
damn i have a laptop, if i try, my pc will explode ahah
thanks for putting it all together.
Nice post ...I just found this post! Thanks!
The next fork of bitcoin should be for Bitcoin Gold in October or November, we will be able to mine Bitcoin Gold using GPU, and if I understood properly ASIC miners won't work with Bitcoin Gold.
Do you have an article/source of this information?
That's an awesome news for all the home miners. But not so awesome for the gamers looking out for gpus :P
So I can keep using my spondoolies as a door jam.
Thx for sharing
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Thanks for suggest
im using minergate. really easy to use. i didnt mine monero.. fees is expensive than the others.
Thanks very much @kingscrown for your generosity to share this information
awesome
Nice..
Amazinggg, Thank You @kingscrown for information
Thanks for the info!
I downloaded Minergate a week or two ago and currently have mined 0.001 XMR. Not great progress. In fact, not really worthwhile at all. I suppose if I had a better GPU it might be worth it.
What are you mining with?
2017-09-03 13:43:02
45SLfxvu355SpjjzibLKaChA4NGoTrQAwZmSopAXQa9UXBT63BvreEoYyczTcfXow6eL8VaEG2X6NcTG67XZFTNPLgdR9iM
0.11502065261
sent
total 1month
0.165488403468
Great post! It is very certain that NiceHash is treating users very well! Each Nvidia 1070 GPU gives me around $60 per month, which after trading the funds on exchanges can easily go up to $80 - $90 per month.
I really needed this, @kingscrown, thanks tip!
I find cryptocurrencies so confusing but I'm trying to learn!
What specifically do you find confusing?
I'm so confused about them I'm not even sure what I'm confused about. lol There's so many, most feel like a pyramid scheme,, but obviously some are "real". The most common thing I hear is "Ya but how do you cash out, you lose all the profits in the fees".
Cryptocurrency Miners Explained: Why You Really Don’t Want This Junk on Your PC: Are you interesting in bitcoin and cryptocurrencies. If yes, I have wrote you for you. It will be helpfull for all stmeemit users.
https://steemit.com/bitcoin/@rabnawazqureshi/cryptocurrency-miners-explained-why-you-really-don-t-want-this-junk-on-your-pc
This is a helpful post kingpost. Been using the , Minergate software app both on my pcs and android. Its a good one.To top on your list, 2 days ago i also made a post on one of the cryptocoins thats easy and best to mine on cpu...you might find it helpful..here is my post
https://steemit.com/cryptocurrency/@maxwell95/consider-mining-gridcoin-since-its-easy
Another one would be GridCoin.
You are rewarded for your BOINC computations (not doing proof of work), so you are actually helping out science while you are rewarded with crypto! :)
nice post
I have a buddy who uses nicehash he's definitely a fan.
muhahahahaa
I would rather configure based on difficulty rating and steady incline on a 7 day trend. In my mind getting in before it gets to big to be worth trying.
Thanks this is informative!
Very informative valuable post. Thanks
Nice article, i think i'll try mine with Ryzen and see if it's profitable without make it's lifespan shorter.
I also wrote an article about #Minergate https://steemit.com/cryptocurrency/@astral1/minergate-s-xdn-and-bcn-mobile-mineable-currencies-increase-despitecrash. In my opinion there are only 2 currencies that are even worth mining at all with a low power computer or cell.
Thanks for the info, Just picked up a NVIDIA GeForce GTX 1050 Ti graphics card , this tutorial will help me get up and running.
I love mine
I dig it
Ive started mining using nice hash but it seems like it is a service where people buy hashing power and your rig is what nice hash is selling. Will it be more proffifable for me to join an alternative pool to earn more ???