Title: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 09:41:14 AM This coin came out less than 40 minutes ago! This is not premined and is so new that if goes well you must mine right now!
Donations accepted : Vertcoin: VpUAHXdP2t2y5brhgSJhCK89TSMM3cv2JM Datacoin: D9myVoDFPhjWLMrKx7Ag6gH7Y3A6V441cT Difficulty goes up fast! 1) Please use my referral https://www.digitalocean.com/?refcode=9d68ca19e204 and create a droplet 2CPU 2GB Ram Ubuntu 13.10 64x .It must be 1GB or more. 2) Connect with putty using using ip and password or just write those in the console. You can always download putty from here http://www.chiark.greenend.org.uk/~sgtatham/putty/download.html Putty is better cause you can copy paste: ---------------------------------------------------------------------------------------------------------------------------- sudo apt-get update sudo apt-get install yasm -y git make g++ build-essential libminiupnpc-dev sudo apt-get install -y libboost-all-dev libdb++-dev libgmp-dev libssl-dev dos2unix git clone https://github.com/vertcoin/vertcoin.git cd vertcoin/src make -f makefile.unix sudo cp -f vertcoind /usr/local/bin/ cd mkdir -p .vertcoin echo 'server=1 gen=1 rpcallowip=127.0.0.1 addnode=192.241.125.215 addnode=192.241.125.216 addnode=192.241.125.217 addnode=46.188.0.241:5889 addnode=172.241.151.154:5889 addnode=61.133.107.171:5889 addnode=115.214.200.106:5889 addnode=58.214.65.90:5889 addnode=192.241.125.218 addnode=192.241.125.219 addnode=192.241.125.220 addnode=31.220.27.16 addnode=162.217.249.196 rpcuser=vertcoinMiner rpcpassword=PASSWORD' > .vertcoin/vertcoin.conf all above from cd to conf in one copy paste and press enter vertcoind --daemon watch 'vertcoind listaccounts & vertcoind getmininginfo' ---------------------------------------------------------------------------------------------------------------------------- Now you have started mining and you should see after minutes your balance getting bigger. Be fast difficulty will rise! Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 09:46:08 AM Now coin is very new and guide might have problems. For example one of my 9 VPS didnt connect for some reason despite the addnotes. Fixes are coming!
Well with those addnodes it connected ASAP! Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Vertcoin on January 11, 2014, 10:07:21 AM Thank you for your guide ;D
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: svojoe on January 11, 2014, 10:18:49 AM putty is always access denied...
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 10:24:02 AM putty is always access denied... When exackly? When you just put your IP on putty? Droplet takes a minute or two to be created before you can connect. Sometimes DO fucks a bit and you may need to restart droplet. At worse case scenario you may need to destroy and create a new one but this will cost 1 hour of the droplet... if access denied is poped at password, are you sure you put the pass correct without spaces? But anyway i think a restart or delte/create will fix it...it has happened to me before and it is DO's problems.... Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: svojoe on January 11, 2014, 10:34:14 AM putty is always access denied... When exackly? When you just put your IP on putty? Droplet takes a minute or two to be created before you can connect. Sometimes DO fucks a bit and you may need to restart droplet. At worse case scenario you may need to destroy and create a new one but this will cost 1 hour of the droplet... if access denied is poped at password, are you sure you put the pass correct without spaces? But anyway i think a restart or delte/create will fix it...it has happened to me before and it is DO's problems.... I got in, I have no clue, now I am doing the unix makefile scrypt, its taking its sweet time! :) I'm sweating over here! :) Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: svojoe on January 11, 2014, 10:37:44 AM I'm not too savvy in putty and on unix environments. I'm not entirely sure to how to watch my progress. For example, I am not sure how to 'unwatch' and switch over to mining info, etc.
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 10:38:12 AM Yes it takes about 5 minutes!
Diff is going up! Have in mind that for example with 5 VPS i got in an hour just 200 coins! Coin is good and rare! Hope you find some blocks soon! its only the start of it! I will sure leave my VPS for at least 8 hours solo mining.... Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 10:40:44 AM I'm not too savvy in putty and on unix environments. I'm not entirely sure to how to watch my progress. the last command : watch 'vertcoind listaccounts & vertcoind getmininginfo' is actually showing you your hash/s and your balance. When you mine coins your balance will automatically go to 50 or more... To send them somewhere you have to close "watch mode" with Ctrl+C and then write: vertcoind sendtoaddress Vs5LmPT42eTjwQjJ9zvktGLprzae5Yc7L2 X X is the amount you want to send. It has to be mature of course. So it may insufficient funds until coins mature. And put your address that you want to send instead of mine! Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: rijating1 on January 11, 2014, 10:41:49 AM i am think about make a pool , what do you think?
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 10:51:22 AM i am think about make a pool , what do you think? Pool is always welcomed! Please make one! Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: zoro on January 11, 2014, 11:21:51 AM does any of these VPS companies accept cryptos?
i don't have paypal or visa :) Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Jiyome on January 11, 2014, 11:24:35 AM Code: rpcuser=vertcoinMiner Do we have to copy/paste it or do we have to write like our vertcoin address? Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 11:26:35 AM Code: rpcuser=vertcoinMiner Do we have to copy/paste it or do we have to write like our vertcoin address? just copy paste all of it from cd to .conf and then press enter. If you want you cant change password but it doesnt matter really... does any of these VPS companies accept cryptos? i don't have paypal or visa :) Unfortunately nope :( But there is really demand about it so who knows. In the future maybe... Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: svojoe on January 11, 2014, 11:48:04 AM I'm trying to figure out how to stop the daemon so I can restart it, I did everything as directed but it looks like I'm hashing without being connected to the network? I'm hashing, but there is zero blocks and the different is than my local pc.
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 11:50:14 AM I'm trying to figure out how to stop the daemon so I can restart it, I did everything as directed but it looks like I'm hashing without being connected to the network? I'm hashing, but there is zero blocks and the different is than my local pc. write vertcoind stop in order to stop it. Then if you cant connect add more addnodes. Those worked fine for me. just add more addnodes by copy pasting the cd........conf thing with more addnodes and pressing enter. Than start again with vertcoind --daemon Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: svojoe on January 11, 2014, 11:55:06 AM I'm trying to figure out how to stop the daemon so I can restart it, I did everything as directed but it looks like I'm hashing without being connected to the network? I'm hashing, but there is zero blocks and the different is than my local pc. write vertcoind stop in order to stop it. Then if you cant connect add more addnodes. Those worked fine for me. just add more addnodes by copy pasting the cd........conf thing with more addnodes and pressing enter. Than start again with vertcoind --daemon You are fantastic! I'm up now, wow the diff must be very high now! No found blocks yet with several computers! 84 million is a lot of coins... Why so hard right now? :) :) Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 11:56:58 AM I'm trying to figure out how to stop the daemon so I can restart it, I did everything as directed but it looks like I'm hashing without being connected to the network? I'm hashing, but there is zero blocks and the different is than my local pc. write vertcoind stop in order to stop it. Then if you cant connect add more addnodes. Those worked fine for me. just add more addnodes by copy pasting the cd........conf thing with more addnodes and pressing enter. Than start again with vertcoind --daemon You are fantastic! I'm up now, wow the diff must be very high now! No found blocks yet with several computers! 84 million is a lot of coins... Why so hard right now? :) :) My 5 VPS havent found a block for like 1 hour now so yes diff is really up. But i will continue solo mining for at least 8 hours more. I am going to sleep in a while and i will decide what i will do later...Hopefully a pool will be out :) Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Sophokles on January 11, 2014, 12:37:59 PM This is fun...
But how can I see my own vertcoin address? With vertcoind listaccounts I get this: Quote { "" : 0.00000000 } So, balance is zero. Ok. But isn't my own vertcoin address supposed to be shown in between the ""? Thanks! Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: shluher on January 11, 2014, 01:07:46 PM If you have problems with your wallet synchronization, add this to your vertcoin.conf:
addnode=108.62.111.138:5889 addnode=54.201.240.25:5889 addnode=172.240.89.250:5889 addnode=50.190.0.70:5889 addnode=31.135.187.9:5889 addnode=198.27.66.162:5889 addnode=23.19.26.138:5889 addnode=144.76.226.151:5889 addnode=54.194.7.98:33761 addnode=125.115.76.67:5889 addnode=163.125.57.68:5889 addnode=180.142.110.247:5889 addnode=58.214.71.66:5889 addnode=125.112.244.84:50592 addnode=113.53.237.178:5889 addnode=23.107.61.194:5889 addnode=54.236.189.3:5889 addnode=172.241.151.154:5889 addnode=61.133.107.171:5889 addnode=171.211.52.150:5889 addnode=61.156.57.71:5889 addnode=218.85.134.178:5889 addnode=113.243.137.220:5889 addnode=212.7.200.9:5889 addnode=107.150.50.74:62370 addnode=117.30.44.152:5889 addnode=27.155.245.129:5889 addnode=222.212.42.72:5889 addnode=171.106.196.0:13499 addnode=107.150.49.74:5889 addnode=23.83.200.170:5889 addnode=76.72.163.54:5889 addnode=218.93.134.55:5889 addnode=142.91.231.50:5889 addnode=222.188.177.57:50775 addnode=61.164.87.130:26084 addnode=23.110.213.50:5889 addnode=222.188.177.58:5889 addnode=162.243.249.73:5889 addnode=123.137.244.39:5889 addnode=218.93.134.126:50580 addnode=182.236.160.83:5889 addnode=180.116.158.48:5889 addnode=54.196.183.56:41230 addnode=184.72.155.72:46586 addnode=50.19.51.19:36500 addnode=54.211.214.162:34151 addnode=184.72.186.246:47525 addnode=54.221.58.60:47161 addnode=54.211.198.34:57649 addnode=50.17.89.200:60650 addnode=54.221.118.164:55117 addnode=54.197.126.5:57311 addnode=222.188.179.28:49283 addnode=180.116.42.234:51106 addnode=27.38.71.233:5889 addnode=222.188.178.217:52151 addnode=54.197.77.13:57579 addnode=54.197.3.73:60394 addnode=54.197.76.193:33971 addnode=27.13.74.181:56003 addnode=23.106.56.18:5889 addnode=218.93.135.98:49978 addnode=207.12.89.54:34870 Donations appreciated =) VuLJZqJX5dYFsnKj6B9VBtszFAXoqBn4nS Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 03:56:14 PM This is fun... But how can I see my own vertcoin address? With vertcoind listaccounts I get this: Quote { "" : 0.00000000 } So, balance is zero. Ok. But isn't my own vertcoin address supposed to be shown in between the ""? Thanks! you write this!: vertcoind getaccountaddress "" Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Jiyome on January 11, 2014, 04:58:43 PM This is fun... But how can I see my own vertcoin address? With vertcoind listaccounts I get this: Quote { "" : 0.00000000 } So, balance is zero. Ok. But isn't my own vertcoin address supposed to be shown in between the ""? Thanks! Same for me, that's the question I was about to ask. I guess it may then be normal if it happens for both of us... Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 05:11:42 PM This is fun... But how can I see my own vertcoin address? With vertcoind listaccounts I get this: Quote { "" : 0.00000000 } So, balance is zero. Ok. But isn't my own vertcoin address supposed to be shown in between the ""? Thanks! Same for me, that's the question I was about to ask. I guess it may then be normal if it happens for both of us... see one post above yours! Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Sophokles on January 11, 2014, 06:22:29 PM Thanks for your feedback Greekcoin, and this whole thread. It was fun getting into VPS mining :D
But I am wondering about the hashrates I get on Digital Ocean. One the 8-core machines I got anything between 1400 and 4600 hashespersec. There is a bit of fluctuation, but on the average, some droplets are by a factor of 2-3 faster than others. Any explanation for this? Are the cores also virtual, so it depending on a bit of luck, what CPU performance you get? Any a bit disappointing: only 4000 hashes/sec on a 20 core machine. Any idea why this might happen? Thanks. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: dzejmsdin on January 11, 2014, 06:31:23 PM This is fun... But how can I see my own vertcoin address? With vertcoind listaccounts I get this: Quote { "" : 0.00000000 } So, balance is zero. Ok. But isn't my own vertcoin address supposed to be shown in between the ""? Thanks! you write this!: vertcoind getaccountaddress "" so when im writing this im getting and address, but what next, it's still: Quote { "" : 0.00000000 } Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Sophokles on January 11, 2014, 06:38:58 PM This is fun... But how can I see my own vertcoin address? With vertcoind listaccounts I get this: Quote { "" : 0.00000000 } So, balance is zero. Ok. But isn't my own vertcoin address supposed to be shown in between the ""? Thanks! you write this!: vertcoind getaccountaddress "" so when im writing this im getting and address, but what next, it's still: Quote { "" : 0.00000000 } Really? I get a valid Vertcoin address, when I type this. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: redsn0w on January 11, 2014, 06:41:49 PM Copy and paste this
Quote vertcoind getaccountaddress "" with "" Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 07:32:26 PM just write this without changing anything:
vertcoind getaccountaddress "" as is! Copy paste! And it will show your address. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: redsn0w on January 11, 2014, 07:54:13 PM Hi , this is my state of mining :
Quote { "blocks" : 8729, "currentblocksize" : 1000, "currentblocktx" : 0, "difficulty" : 0.03820623, "errors" : "", "generate" : true, "genproclimit" : -1, "hashespersec" : 1633, "networkhashps" : 7901943, "pooledtx" : 0, "testnet" : false } they are good ? Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 07:57:40 PM Hi , this is my state of mining : Quote { "blocks" : 8729, "currentblocksize" : 1000, "currentblocktx" : 0, "difficulty" : 0.03820623, "errors" : "", "generate" : true, "genproclimit" : -1, "hashespersec" : 1633, "networkhashps" : 7901943, "pooledtx" : 0, "testnet" : false } they are good ? "blocks" : 8729 those are the blocks. Since it has downloaded them and it isnt stuck at 0 or somewhere low it means you are connected "genproclimit" : -1 means that you mine with all available cores "hashespersec" : 1633 and this is your hashrate. Its quite typical i think. Although still much better than mine that was around 800 yep you are good :P Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Jiyome on January 11, 2014, 08:09:28 PM Now that a pool is ready to be started (https://vtc.pool.pm/), what am I supposed to do to mine there once its on?
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Sophokles on January 11, 2014, 08:11:59 PM Now that a pool is ready to be started (https://vtc.pool.pm/), what am I supposed to do to mine there once its on? Run the miner software they are going to provide you with. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 11, 2014, 08:14:48 PM Now that a pool is ready to be started (https://vtc.pool.pm/), what am I supposed to do to mine there once its on? it say here what to do https://vtc.pool.pm/index.php?page=gettingstarted probably i will make a guide for DO also. But i think that solo is still better.. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: Jiyome on January 11, 2014, 09:00:26 PM Yeah actually that's what I would like to know, how to use Digital Ocean to mine through the pool.
It would be really nice of you to make a guide for that too! :) Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: redsn0w on January 11, 2014, 09:08:58 PM Hi , this is my state of mining : Quote { "blocks" : 8729, "currentblocksize" : 1000, "currentblocktx" : 0, "difficulty" : 0.03820623, "errors" : "", "generate" : true, "genproclimit" : -1, "hashespersec" : 1633, "networkhashps" : 7901943, "pooledtx" : 0, "testnet" : false } they are good ? "blocks" : 8729 those are the blocks. Since it has downloaded them and it isnt stuck at 0 or somewhere low it means you are connected "genproclimit" : -1 means that you mine with all available cores "hashespersec" : 1633 and this is your hashrate. Its quite typical i think. Although still much better than mine that was around 800 yep you are good :P Thank you. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: olliejjc16 on January 12, 2014, 04:06:38 AM Hi how do you run multiple droplets and have them mining, bit of a newbie to this thanks!
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on January 12, 2014, 04:09:27 AM Hi how do you run multiple droplets and have them mining, bit of a newbie to this thanks! You create more droplets and do the same... Or you can make an image of your first droplet and make the others from the image of your first...but i always just make more droplets and follow the guide... Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: kov on January 23, 2014, 10:42:13 PM Just trying to set this up as a test run, but I'm getting an error on the makefile.unix step...
Code: g++: internal compiler error: Killied (program cc1plus) Any ideas? Looks like it's most likely an issue with system ram on the instance I'm running. https://bitcointalk.org/index.php?topic=304389.0 Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: GreekBitcoin on February 06, 2014, 01:04:39 PM so i am not sure how efficient is CPU mining now and if it will in the near future.
Is there interest for pool mining guide? Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: pwf on February 08, 2014, 07:56:05 PM Hi experts / mods .. newbie here.. would appreciate your help
I have just started mining for VTC a day ago .. I used vertcoind getaccountaddress "" yesterday .. and I got an address.. I used this address to receive a payout. In my console currently, when I am "watching" the blocks ... I can see the transferred VTC in my balance. no problem so far... now here is the weird part ... I just tried vertcoind getaccountaddress "" now.. but I see a different wallet address being displayed. I thought I would see my same ol wallet address.. but no! .. Is this the expected behavior? What wallet address should I use to link to a diff pool now - the old one or the new one that I am seeing? hope i clearly explained my problem... thanks in advance for your help Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: larem on February 08, 2014, 07:58:01 PM Does DigitalOcean not ban VPS's for doing this when you're revving up their CPUs?
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: pwf on February 08, 2014, 08:04:36 PM in fact no ... i clearly mentioned while signing up at DigitalOcean what my purpose was .. apparently, they are okay with it.
I use Linode as I get a 8 core CPU on Linode as opposed to just a 2-core with DO... have got banned by Linode once for mining on their Test Drive :P ... then i signed up with them eventually. Both cost the same .. so for this purpose, I feel Linode is better Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: larem on February 08, 2014, 08:08:28 PM in fact no ... i clearly mentioned while signing up at DigitalOcean what my purpose was .. apparently, they are okay with it. I use Linode as I get a 8 core CPU on Linode as opposed to just a 2-core with DO... have got banned by Linode once for mining on their Test Drive :P ... then i signed up with them eventually. Both cost the same .. so for this purpose, I feel Linode is better Interesting. The guide here was nice. I just always assumed it'd be a swift ban and you were pretty much racing the clocks, lol. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: pwf on February 08, 2014, 08:13:18 PM but why should one get banned? these are cloud compute providers and we are .. well .. cloud computing right? ..
I guess it is a trade-off .. I'm hardly using storage space and network bandwidth .. but yeah, CPU wear n tear may happen in fact, i did notice my cpu % go down from 450% to < 200% in about 2-3 weeks of mining .. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: hycon on May 02, 2014, 09:29:27 AM vertcoind getaccountaddress ""
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: hycon on May 03, 2014, 08:08:39 AM Well with those addnodes it connected ASAP! ::) :P :P :P :P
Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: watpr on May 14, 2014, 04:05:13 PM Hi,
Help needed. I am a newbie here. I have come across terms like "mining", "pool", etc... ??? I don't know what these are, and in what way they are benefit for us? :-\ Can someone explain or provide a link which has information about that...? Thanks for your valuable time. :) Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: sandpaper on May 14, 2014, 10:23:02 PM Hi, Help needed. I am a newbie here. I have come across terms like "mining", "pool", etc... ??? I don't know what these are, and in what way they are benefit for us? :-\ Can someone explain or provide a link which has information about that...? Thanks for your valuable time. :) This is probably off-topic for this thread, but I will see if I can explain a little bit in detail what these terms mean. Mining is simply turning your electricity into cryptocurrencies (litecoin, bitcoin, hobonickels, dreamcoin, etc etc). This is done with computations being performed by your GPU / FPGA / CPU / ASIC device. Generally speaking it goes in this order of power. Lowest to highest. CPU / GPU / FPGA / ASIC. Now the speed at which you mine different algorithms is based upon the hardware used. Now when your device "solves" the computation the fastest you will have "mined" a block. A block is how many of a specific cryptocurrency will be awarded to you for mining that block. Bitcoin is 25 per solved block as an example. Difficulty must also be taken into account, which I am not very good at explaining. The higher it goes, the harder it is to find a block and thus you would need more hashing power to find a block. This is where pools come in. A pool is a group of miners (you, me, anyone mining) that direct their hashing power to generally speaking, a website. This site will then direct your hashing power to whatever coin it is mining and it would be as if you were mining with the total amount rather then simply your own. This increases your chance at finding a block. Now when a block is found the difference in a pool is that your total hashrate is your % of the block reward. So you have 1000 KH and the pool has 5000 KH and finds a block. You would get 20% of that reward being that you had 1000/5000 of the total hashing rate. A Gigabyte R9 270x 2gb GPU will get around 485 KH/s running on scrypt. This same device will yield around 2.9x that rate on the algorithm x11. So different algorithms give different hash rates, but you must take into account electricity costs / hardware costs / fees from pools which I will go into in a moment / to be able to determine your profitability. Hope this helps you out. Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: watpr on May 15, 2014, 03:13:06 AM Hi, Help needed. I am a newbie here. I have come across terms like "mining", "pool", etc... ??? I don't know what these are, and in what way they are benefit for us? :-\ Can someone explain or provide a link which has information about that...? Thanks for your valuable time. :) This is probably off-topic for this thread, but I will see if I can explain a little bit in detail what these terms mean. Mining is simply turning your electricity into cryptocurrencies (litecoin, bitcoin, hobonickels, dreamcoin, etc etc). This is done with computations being performed by your GPU / FPGA / CPU / ASIC device. Generally speaking it goes in this order of power. Lowest to highest. CPU / GPU / FPGA / ASIC. Now the speed at which you mine different algorithms is based upon the hardware used. Now when your device "solves" the computation the fastest you will have "mined" a block. A block is how many of a specific cryptocurrency will be awarded to you for mining that block. Bitcoin is 25 per solved block as an example. Difficulty must also be taken into account, which I am not very good at explaining. The higher it goes, the harder it is to find a block and thus you would need more hashing power to find a block. This is where pools come in. A pool is a group of miners (you, me, anyone mining) that direct their hashing power to generally speaking, a website. This site will then direct your hashing power to whatever coin it is mining and it would be as if you were mining with the total amount rather then simply your own. This increases your chance at finding a block. Now when a block is found the difference in a pool is that your total hashrate is your % of the block reward. So you have 1000 KH and the pool has 5000 KH and finds a block. You would get 20% of that reward being that you had 1000/5000 of the total hashing rate. A Gigabyte R9 270x 2gb GPU will get around 485 KH/s running on scrypt. This same device will yield around 2.9x that rate on the algorithm x11. So different algorithms give different hash rates, but you must take into account electricity costs / hardware costs / fees from pools which I will go into in a moment / to be able to determine your profitability. Hope this helps you out. Thanks for the info sandpaper... Gained some knowledge from you... Now i have to research about how to mine...!!! ;D Title: Re: Digital Ocean Solo Mining Guide For Super New Coin "Vertcoin" CPU only! Post by: sandpaper on May 15, 2014, 03:30:24 AM Yeah no problem. What are you trying to mine with? Maybe I can help you set it up all up. I know how confusing it all was when I first started
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