I stopped mining Ethereum a while ago when I sold most of my GPUs. I still have 3 cards I mine with but I forget to turn them on sometimes as I use the machines as well.
I typically make about $0.90/day mining Ethereum per Nvidia 1070. I came across a new coin I've been playing around with that is invite only called Merit. I started to mine Merit and I'm making about 4.5 Merit/day per 1070 when I get a block reward it can be triple that.
How much is MRT worth?
Currently, 1 Mert (MRT) is worth 12,000-14,000 Satoshis. That's about $0.75-$0.93 right now. You can also mine invites if you are really lucky that are worth 1 MRT but just having a wallet gives you a chance at getting air dropped an invite.
$12 in a single day off (1) Nvidia 1070!
So each of my 1070's mine about $3.375 - $4.185/day, roughly 360% - 465% I make mining Ethereum, at the low end. When I get a block reward or an invite, that's higher. So far I haven't mined any invites, but I have mined a block reward for 11.5 MRT for a total of 16 MRT in a single day off my main 1070. That's $12-$14.88 on a single Nvidia 1070 in a single day compared to $0.90 I normally make.
Growth Rewards
You also get growth rewards when you sign up other users who mine or hodl MRT. The more users who sign up under you the more often you win the growth reward lottery that goes on every 1 minute. So far these don't seem to be that big, but I hear once your network is around 20,000 MRT or you won around 10,000 MRT you can see 100-200 MRT/day in growth rewards.
You can read more about their growth mining
GPU mining is new on Merit
GPU mining is really new to Merit, just a few days, so this is the time to get in on it. If you want to give it a try, you can use my referral link and I will approve it right away providing I have invites left.
https://wallet.merit.me/?invite=themarkymark
Once you sign up, your wallet will be locked, just give me a few minutes and I will unlock them as I see them come in. They take a few minutes to show up and I will be checking every so often. May take up to an hour to get unlocked. If you don't get unlocked by then, just shoot me a message.
You can mine using the light wallet, but if you are using a lot of gpus I recommend mining with the cli client, it's a small file and you write a batch script.
Example of what I use if you go the cli client for mining:
merit-minerd.exe --url stratum+tcp://pool.merit.me:3333 --address themarkymark --gpu 0 --cores 0
This may be a total flop, but the developers are really active and are updating code in real time. They are responsive on their Discord.
Here is my referral link to add you to my Community Network
https://wallet.merit.me/?invite=themarkymark
You will need a sponsor to get your account unlocked but as you mine you will get invites you can use to sponsor users into your network.
Signed up! Hopefully you have some invite left! :D
Got you.
I noticed! Good stuff!
Nice :)
@themarkymark please, give me invite.
Done if you used my link.
thanks!
I hope you have some invites left, I signed up with your link. This looks pretty promising.
Sure, I'm running low but got a couple.
Sent.
thank you!!
Going to take a nap, will hand out any pending invites when I wake up. I got a new batch of invites, so I should be able to cover all of them.
Hi @themarkymark, i am using nicehash mining Btc with daily profit of about 8000 satoshi, do you think with the same hash power i can earn more?
I would think a lot more unless you have ASICS mining BTC is silly.
Dear @themarkymark, i joined merit but i got the following message: Looks like you have a locked wallet!
Remind the person who invited you to Merit to confirm your invite request.
Once confirmed, your wallet will be unlocked and you'll be able to send, receive, and mine Merit.
Could you do it?
Done
Thank you my friend!
It is still showing this message: Unlock wallet
Receive your activation token from a friend.
Which activation token you should send me?
Ok when i downloaded desktop version message disappear, i will let you know result of mining :))
signed up using your invite , can i get invite to unlock wallet now ?
All set.
Thanks for the invite!
Interesting, I wonder how fast this mining advantage will be arbitraged out
I think once they add the market, the price will go up.
Used the invite, thanks. Looking forward to explore it.
Wow, fast unlocking response, thank you!
Merit looks pretty awesome. Mark would you say it's a good idea to buy the 1080TI? Which model is the best for mining?
Thanks and don't forget to unlock all the accounts! Patiently waiting! :P
I like MSI Gaming X model.
Thanks for the tip! There is something really fascinating about mining, but I just can't tell what it is.
Signed up!.Can i get invite to unlock my wallet
@themarkymark I'm running low, yet I have a couple of more welcomes left. I'm endeavoring to get my hands on a couple of something beyond.
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You're excellent!
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big mining you are helping me
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mining is totally depends on machine,how they give output. mining is profitable instead buying bitcoin or any other Cryptocurrencies but when the consumables electricity rate is less as compare to mining given rate.
good for you dudu.. but i cant just get the hang of it. i mean...how do you even mine? what do you need to do, have and avoid? its been tough getting my head around it.
Yup whats you Graphs/s looking like?
Are your cards OC?
What GPU, 1080Ti?
You are more concerned about cycles/s and shares/s.
Nvidia 1070
0.278571 shares/s: 0.103571
Nvidia 1060
cycles/s: 0.163743 shares/s: 0.0877193
Evga 1070Ti
Thinking about jumping on the Vega 64
You can't mine Merit with AMD right now.
1080Ti is the best you can get right now.
Than the 1070 Ti is a good fit for right now.
Thinking on jumping back in the mining side. Not just for Merit
Got unlock thanks going to look into mining now
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Those are really good numbers mate, I read something about merit a couple of days ago and I got kinda interested, gonna read more about it. You should write a post about cloud mining, if you some experience or know more about cloud mining. Great info post man.
I don't believe in cloud mining, they are built to make you lose money.
I don't believe in
Cloud mining, they are built to
Make you lose money.
- themarkymark
I'm a bot. I detect haiku.
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Really? I must say I didn't went deep in research, I just read it a couple of weeks ago and it stayed in my mind, I was hoping to talk about it with some one experienced, I'm gonna doble check it now, thanks man.
They sell contracts, and the contracts "expire" before you hit break even as they start to lose money.
Why would anyone sell a contract that is profitable to a third party when they pay for the hardware and electricity and have it running.
The right answer
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Businesses sell profitable contracts (crypto or otherwise) all the time. The mining operation doesn't want the crypto volatility. They want a buyer that is willing to pay them more than their costs are so they can be assured a profit. If BTC soared to $70k tomorrow every contract in existence today is profitable. And the mining business doesn't mind because they have the same profits as if BTC dropped to $1k tomorrow.
However, it still likely never makes sense to buy cloud mining contracts. Not because you can't make a profit. You can if the price increases. But you will never earn more than if you had just taken the cloud mining fee and bought your crypto instead of mining it.
This, but also the fact they cancel contracts when it becomes unprofitable to them, which is around the same time you start to approach breaking even.
If they are cancelling contracts they are scams, not businesses. No doubt scams exist but are you saying, for example, Genesis Mining would cancel your cloud mining contract when they deem you have just about made back your money, regardless of time remaining on contract?
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comment yang bagus i like your comment
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Can you tell me how much kW•hr is your daily power consumption? Thank you!
Not sure, I haven't tested in a long time.
excellent!
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👍good question!
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please help unlock sparklez...just signed in
Done
Thank for your sharing, very useful, i take banefit from your article, good luck
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Vote to upvote no good idea, but each support its okay
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Signed up using your link.
Where does MRT trade with other coins?
Right now only OTC, but they working on exchanges. There are some escrow agents to broker trades on their Discord.
excellent!
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Lol. Expect nothing, because volatility of cryptocurrency is really high. You can't check what happened in the latest weeks and foresee that it's going to go down the more time it passes. Miners will keep mining Ethereum and holding the coin, because its value is expected to rise. Even bitcoin had dark moments and now look where it is. Until there is profitability with polaris cards, miners will still use them.
When it comes to mining of any cryptocurrency, it is important to look into the cost of the cryptocurrency. Once you are able to look at the cost, you would realize whether mining it would be profitable or not. In the last 12 months, cryptocurrency Ethereum has increased by 20 times. Therefore, you might think that it would be worth mining. The truth is that you have to look into the cost and thereafter take a call.
hmm, ok.
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But when the p(rice) gets lower, fewer people mine and then the mining difficulty decreases. It's a self regulating system which will always be barely profitable given that people don't mine when it's not profitable.
Haha, yes, exactly:D
unlock me please @themarkymark
Done
I'm running low, but I have a few more invites left. I'm trying to get my hands on a few more.
somehow I don't think my dell on a DSL connection could mine much.
connection speed isn't so important, GPU performance is.
Hey, I know you have a number of posts introducing us noobs to the basics of blockchain, mining, and even coding python. Do you have one explaining what GPU mining actually is? Does the G stand for graphics? My husband does 3D animation and always has a machine capable of rendering, is that the kind of setup required?
I have no intention of getting into mining myself, but have been wondering. Through trial and error (SUP coin claims to be mineable in a browser as well as a windows exe) I have discovered that a Microsoft Surface Pro 4 can't mine shit. (LOL) It is, however, good for someone who does a lot of writing and online work on the go.
GPU means graphics processing unit, a twist on CPU for central processing unit.
You need a good graphics card (GPU) for mining these days. A lot of computers only have an on-board graphics card which is not very good at gaming or mining and mostly good enough for running Windows and that's it.
Merit can be CPU mined, but at a much slower rate.
That's what I was guessing. He usually has a good video card and usually Nvidia, it runs VR just fine but that's as far as my knowledge goes. Is there a list of system requirements/ recommendations?
Thank you, this is something I've wondered about for some time.
If he is running VR then the GPU is likely good enough to mine with.
Awesome man! Thank you for sharing.
nice
i wanna mine MRT i have nvidia geforce 940MX can you please tell me how much i can mined through this gpu in a day ???@themarkymark
Not sure on that GPU, if I was to guess, around 0.50-1 MRT.
@themarkymark o thanks bro then i 'll try soon
Fantastic work with this one, kudos
Nice i am gona try this
Wow beutiful
I will give it a try!
Stopped Ethereum a long time ago since I am no longer able to host a fullnode. I it a pain in the ass sync it using "geth". But I do not like to rely on 3rd party wallets.
"Mining" GRC now (BOINC) which is nothing else but dedicating CPU-Power to scientists. There are tasks by LHC or even "seti at home" using CPU and GPU task.
I looked at Boinc in the past and was going to give it a try, also was going to look at GRID but never did.
$12 x 5 1070. Looks like a very good deal. Anyway thanks for the information!
Hello themarkymark sir, your concept is very good. what is etherium mining and mrt?
I m waiting for my invite @beingindian
Hi @themarkymark, Signed Up with user id touhidalam69. Please confirm my invite request.
Done
thanks a lot
i would love to start mining , bit in my country electricity cost would kill , hence i cannot mine .I am doing cloud mining on Hashflare
Signed up too! MRT looks great - would be amazing if you still have some invites left :)
Hi @themarkymark, signed up. Unlock please
hey I used our invite link to sign up but it still wants you to verify it, thank you. :)
Just going through them, sorry was taking a nap.
Hi there @themarkymark. Thanks for sharing this. May I ask you some questions?
How do you sell or trade Merit Coins? Is it possible while is not listed in any exchange?
Is the algorithm Blake2b?
What about renting hashing power? Have you tried that?
I will appreciate the info in order to start mining.
Thanks. Steem ON.
It is OTC only right now via trusted escow agents, there is a market that will be released real soon
Cuckoo algorithm
Right now you cannot rent hashpower as I don't know anyone that supports it. GPU mining is very new (within a week)
i will also want to buy but i am mining etn
Congratulations @themarkymark!
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Where do I get the client? Will it run on Ubuntu? This sounds interesting. I've been using SimpleMiningOS to mine Ethereum. Is this difficult to set up?
the client is on my link, you can use the light wallet to mine or the CLI (which is in their discord under the #mining channel)