Hello all,
I began mining cryptocurrencies just a few days ago, and I have searched for one that would be easy to start with.
Somehow kronecoin came up to my sight.
I gave it a try for about a week, and it's obvious that there is something wrong with it.
First of all, let's look at the website and software.
Forum link at the top of the page is pointing to an archived thread on
reddit.com.
Threre are no installation notes for KronecoinCore for Linux, and God knows we always need some instructions for using anything on Linux, so I never managed to get that thing running.
Installation for Windows contains a trojan - even if it is a false positive, good development team would resolve it in short time, so this is obviously not the case.
The only good thing from my perspective is an example of how to start the miner in Linux, by downloading it from GitHub and compiling it.
Since I coudn't use desktop wallet either on Linux or on Windows, I used Web wallet, which is very elementary.
It doesn't even provide HTTPS for security!
There are two officially supported pools: EU pool and US pool.
In EU pool there is constantly only 2-3 miners, with clearly not specialized hardware, producing about 30-60Khs per miner.
In US pool there is 2-4 miners, with more advanced hardvare, producing 100Khs - 4Mhs per miner.
There were few pools mentioned in this thread, like
https://www.mining-dutch.nl/ and
http://blockmunch.club/.
I checked both of them, and there were most of the time 0 active miners there, with maybe a miner or two just dropping by, producing really not much.
I was CPU mining, but with relatively good machine using 4 CPUs with AES-NI enabled, producing around 100Khs (as mining tool and pool monitor reported).
Although my mining software reported that I have produced thousands of accepted shares, when I monitored the performance of the EU pool, it came up that my result was always around 200-400 shares.
It was the same for the rest of the guys, their result was also just a little bit rising and then a bit falling, always going up and down.
There is also no indicator to show which block are we all processing at the moment.
BUT, then I checked "Block Explorer".
And, to my great surprise, there where dozens of payouts each minute, with full 50 kronecoins per payout!
I then checked if any of those payouts went to any of the active miners on either US or EU pool, and there was NONE!
For all these days and thousands and thousands of shares I produced, I got one big ZERO coins.
So, the big question is: WHERE ARE THAT PHANTOM MINERS, THAT ARE GETTING ALL THE PAYOUTS, COMING FROM?
This all looks like one big fraud.
Even if these are real miners, producing that much payouts, which means that much full blocks per minute, would require highly advanced equipment.
That alone, would be a great contradiction to kronecoin's original idea: "our goal over the few next years is to help people who want to mine to do so with small hardware resources".
I just switched to another cryptocurrency - it took me some time to get the things going, but as soon as I did that, even though I was mining for just half an hour, some amount was delivered to my account, no matter how low it was!
That is the proof for me that the other cryptocurrency is doing thing honestly, and that kronecoin is all in muddy waters.
To conclude, if you are reading this and just wanted to start with some cryptocurrency to see how things are going... well, you can do just that.
For everything else... it would be better to find another coin to mine.
Yes there is something going on, no activity on the block explorer for hours then a ton of blocks mined by the same wallet. I also mined for 24hrs and mined virtually nothing with an L3. It is a shame as the coin could have done well. Who ever is in control of the coin has either given up or unaware of the issues, either way until someone states otherwise I wouldn't bother.
