Monero Mining

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Do i already contribute to the network? (feddit.de)

submitted 2 years ago* (last edited 2 years ago) by bjoerns@feddit.de to c/moneromining@monero.town

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First of all i am completely new to Monero mining. Why do i want to do it? I have some solar Panels and way too much energy especially over noon which i cannot use, so normally i "donate" that to the electricity company.

Okay so i have monerod and p2pool running on a VPS i rented for my blog etc, so i dont need to run that on my low power 24/7 Intel NUC at home.

I min now with my Laptop which does about 2,4kH/s and with my Gamin PC which does approx. 4,6kH/s.

I see that the miners get new Jobs from p2pool but okay i dont got any share till now (whats a share anyway).

So what i like to know: do i already contribute to the Monero Network right now or is the computing power wasted? What would be a shame.

Second question: I am mining on the mini side chain, do i have an chance to get a revenue with that setup, so with quite low Hashrate under 10kH/s and that also only for approx. 8 hours a day? Or is it simply useless what i am trying to do?

My goal is simply to get a bit of monero out of my computing power to may cover the 2-4€ hosting costs of one of my VServer.

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[–] IP2@monero.town 0 points 2 years ago (1 children)

The 8 hours a day is what makes your situation challenging, more than the 7kH/s. Controversial as it may sound, I would consider mining on the largest pool I could find, the one that finds the most blocks per day, giving your 8 hours a better chance at getting paid. I haven't checked the numbers mind you, so DYOR.

[–] crab@monero.town 0 points 2 years ago (1 children)

DO NOT CONSIDER MINING ON THE LARGEST POOL.

seriously, there is no benefit to it. on p2pool you can be paid out every few hours, using ANY centralized pool you will have to wait for payout thresholds and then pay transaction fees (and potential pool fees) on payout. in addition, centralized pools can steal your funds.

if you dont know how to use p2pool, check out the gupax guide its even easier than setting up with a centralized pool (linked in the sidebar).

[–] IP2@monero.town 0 points 2 years ago (1 children)

You do realize, part-time mining you could be shooting blanks for days mining on a smaller pool (p2pool included). Keep that "ANY centralized pool"crap out of here.

[–] crab@monero.town -1 points 2 years ago

10 shares weighed at 10 is the same as 1 share weighed at 100. If you mine centralized, youll get a bunch of low weight shares and wait days or weeks for a payout and lose say 5% of it to fees. If you mine p2pool youll get a high weight share every day or so and get paid out immediately.

"shooting blanks" means nothing when your hits are way way bigger.