Hey Cryptopeople
I never got into mining but I always wanted to get into it. Today I researched how to mine Monero and if it's still profitible.
Monero is the most privacy focused coin at the moment.
Bitscreener chart
Monero Website
If you never set up the Monero wallet you might have some difficulties doing so.
Waller set up guide
If you want to sync faster make sure to use a remote node. But don't disable your local node!
After syncing you are good to go!
You can now mine with your wallet using the cpu in the advanced settings but that's more of a lottery than mining. You might get lucky though! ;)
Sry for the german language but you can find the buttons if you want to after download.
You can also mine from your gpu(graphics card) using the xmr-stak. This is quick and easy! Even for me.;) You can watch this awsome tutorial if you want.
As you can see I only have around 400 Hashes on my computer. That's why I was looking into Mining Rigs.
If you are really taking it serious you can build or buy a mining a rig. Based on my research AMD cards work better than Nvidea for Monero and the one with the most Hashrate I've found is the Radeon RX Vega 64. It can deliver you up to 2000 Hashes running on 200W.
I've put these numbers in a mining calculator based on a mining rig with 4 Radeon RX Vega 64 called Cryptocompare
So basically you break even after a year of mining which seems fine to me.
If you want to know how to set up a rig like this and how to tune the settings of the cards you can watch this awsome turorial
Do you have any mining experience or do you want to start?
Leave it in the comments! Let us share our thoughts and profit all together!
As always this is not investment/legal advice! Please do your own research!
I wish you all the best of luck and until next time guys!
Make sure to check out my last post :)
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You should check out Brave Browser.
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As always this is not investment or legal advice! Please do your own research!
Happy Gainz! :)