Monero is Raging

Monero

It might be a good time to look into mining lesser known cryptocurrencies. There are many many currencies you can mine with a newish laptop or unused phone on a hotspot. The payoff is a lot less mining on the above said devices but you never know when one currency is going to pop.

I use Minergate. For me, it does not work all that well. I have to monitor it from turning off. I have no idea why it turns off and the Minergate Tech Support has yet to be able to help me out. The thing is, I cannot get any program to run for longer than a half an hour beside the Windows 10 Bitcoin App.

Mining Bitcoin on a PC or especially a phone is largely a joke. Someone who has a mining rig probably spent over $5000 on it. If they spent less, they would never earn a profit unless they get free electricity.

Mining Monerowith even a modest graphics card, you can currently make $10/month even after electricity. That is, assuming everything runs and stays running for just about 24 hours a day.

You can do your own calculations here.

Right now, mining Monero is still done with H/s. That’s Hashes per second. A better computer and even a phone can do those mining calculations. To make any serious money on Bitcoin, you’d need a deicated rig that can put out TH/S, Terrahashes/second.

The numbers go H, KH, MH, GH then TH. Each prefix added is another 1000 hashes more in the same duration.

The thing that makes Moneroso attractive compared to it’s closest analog which is LiteCoin is that to mine LiteCoin, you need to be all the way in the GH range. Equipment bought now to mine Monero – able to put out GH – only needs to put out hashes. That should dramatically extend the useful life of your dedicated graphics cards.

I hope to get some kind of dedicated rig up and running in a few months. The price of Monero doubled in the last two or three weeks to about $90.

I don’t really understand how Crypto is valued. To me though, there seems to be a lot of opportunity out there to make some type of profit even if it’s to only buy and hold coins worth a fraction of a cent.

Be warned, there are nearly 900 different coins out there. There is bound to be a reckoning.

 

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