As you might know, i’ve got an Ethereum cloud mining contract that’s currently looking like a pretty solid investment choice.
Being a geek, i still wanted to do some mining of my own with hardware that i manage. But, i don’t have the dough to lay out for ASIC-based rigs or even a higher-end GPU or 2.
Then, i found Monero (XMR).
Well, i’d already heard about it (full anonymity cryptocurrency, BTW), but now i was even more interested because i could mine with a plain old CPU. Yep, i could use any computer i had laying around (within reason, of course) to get me some free(ish) crypto!
So, slowly, i’m mining Monero.
Like, really slowly.
Right now i’ve had 6 computers mining for Monero for the last couple of weeks or so.
About 0.157 XMR has been mined.
Oh, and i’m not doing this alone. These 6 computers work with the SupportXMR mining pool.
What’s that? You’d like to give this a whirl, too?
YMMV, but here are the steps i took:
- Set up a Monero wallet at MyMonero.com.
- Download and install the XMR-Stak CPU miner (you can find more options here).
- Configure the miner to point at a low-end hardware pool/port (i gots me some real low-end h/w over here!).
- Fire up the farm!
Spending what i figure is around $1USD/day (yes, i’m measuring some of the wattage; making estimates about the rest), it looks like i’m mining about 0.0087-ish XMR, or about $1.71USD (XMR trading at about $196USD as of this writing) each day.
So, maybe i’m profiting 70% or so to my spend, maybe it’s a wash, hell, maybe i’m spending more than i’m making.
Whatever the case, for what it’s worth, here are my thoughts: this is fun; i’m learning; i’m spending less on heating (it’s warmer in the basement now, go figure!); i’m engaging in a form of forced savings.
All in all, i think it’s a win.
What are your thoughts? Are you going to start mining? Do you mine now? Am i nuts? Lemme know!
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