Mining Doge with my MBP Using Asteroid

[Grimwald]

Hi

I was about to give up getting in on the coins as BTC is pretty much out of my reach for mining as my PC is to old and it takes to long using my MacBook Pro to get anywhere then I discovered Litecoin and the Asteroid app and started mining those for a week at WeMineLTC.com. Again after letting my miner run  for a long time at about intensity 11 I wasn't really getting anywhere. I currently have 0.014368460000000005  LTC after about a total of maybe 30 hrs of mining. The hash rate was on average 17-20.

So I was rather discouraged thinking hmmmm I really don't want to spend money on this yet is there a way to perhaps make some then reinvest it?
Then I found DogeCoin which at the moment is not as hard to mine as the difficulty level is lower and I started to look into mining it using Asteroid and after
ac couple of attempts I was successfully mining the new underdog currency. After just a day I have got 18 doge.

I know that Doge is not worth as much as LTC and LTC is not worth as much as BTC but as the demand goes up the value should increase so I am hoping I can at least make enough to invest in some better tech.

To serious miners this may sound sad but the point is this. If cryptocurrency is going to really take off it has to be accessible to a majority of people and unfortunately this means hardware and software that is a few years old. As the majority of people do not upgrade every year. Which is why I was happy when I found I could mine with my MacBook Pro that I bought in 2010 as long as I watch the heat. I have been able to keep it at around 88 c while mining at intensity 11 sometimes 12 if everything else is shut down.

I have been able to collect BTC by going to faucets and at the moment after a couple of weeks of just doing it in my spare time I have gotten 0.00106789 BTC which isn't much only about .91 CDN

I think I'm gonna give up on LTC and just do dodge coin my doge is up to 120 right now and I have found a few faucets for it.

I want to look into the USB miners but don't know much about them yet does anyone use these? If so are they self contained or do they need to access your GPU as well?

Grimwald

[mflow123]

AFAIK, USB Miners aren't usable for Scrypt Based Coins (such as Doge / LTC) . so, you'll need to invest in some hardware in you do want to seriously mine stuff.

[nahallacman]

Here is the thing, purchasing coins is accessible to anyone. Trading is also easily available to anyone by using an exchange. Mining may not be, but the point of mining is to use the most efficient equipment to produce the largest payout. There are many FREE options out there for cloud mining services trials. I would recommend using the amazon AWS service and trying to point it at a CPU coin like PTS. In the computer world everything gets 2x better every 18-24 months. http://en.wikipedia.org/wiki/Moore's_law

This is an alright explanation on why hardware from a few years ago is so inconsequential in comparison to newer hardware. There are probably better ones out there. In any case, most people don't feel the need to upgrade because their old equipment does exactly what they want it to. Your old laptop probably does everything but mining just as well as you need it to.

[Grimwald]

Thanx for the feed back

[Pavlinius]

Hello. It's great for you to have such an enthusiasm ! IMO though you are paying more for electricity than that you are earning by CPU mining DOGE. I recently read an article for CPU mining where they described the whole thing as if it is absolutely free because you can mine while the computer is not in use. But modern CPUs consumes many times less electricity when the computer is idle, so when you start mining the power consumption really jumps up. You can try those USB ASICS and I think that you will earn more money with such a device(s) mining bitcoins.

[Grimwald]

Hello. It's great for you to have such an enthusiasm ! IMO though you are paying more for electricity than that you are earning by CPU mining DOGE. I recently read an article for CPU mining where they described the whole thing as if it is absolutely free because you can mine while the computer is not in use. But modern CPUs consumes many times less electricity when the computer is idle, so when you start mining the power consumption really jumps up. You can try those USB ASICS and I think that you will earn more money with such a device(s) mining bitcoins.

Yeah I understand that however the idea is that if you can accumulate a good amount of coin while the value is low and it continues to increase in value it will pay off in the long run. I have heard enough hype about Doge in many media avenues to take the risk to spend some electricity to get some coins and see.

Of course it could all go bust too you never know.

[awais3344]

18 doge in how many hours?
doge will not reach a $0.1 and I am being optimistic about it. The most it can reach is $0.01. And it still wont be worth anything at all. You should just keep an eye on new coins released here and mine only cpu coins. doge is --scrypt coin mined using gpus. your cpu cannot compete with gpu. So you are just wasting time and electricity. mine the newly released cpu and you'll be way better and you'll make some money too. But once you have mined the coins. Wait 2-3 months until the coins blocks reward halves, coin difficulty goes high and/or it hits an exchange. So you can sell it at better prices.

That being siad. You should mine cpu only coins.

[Grimwald]

18 doge in how many hours?
doge will not reach a $0.1 and I am being optimistic about it. The most it can reach is $0.01. And it still wont be worth anything at all. You should just keep an eye on new coins released here and mine only cpu coins. doge is --scrypt coin mined using gpus. your cpu cannot compete with gpu. So you are just wasting time and electricity. mine the newly released cpu and you'll be way better and you'll make some money too. But once you have mined the coins. Wait 2-3 months until the coins blocks reward halves, coin difficulty goes high and/or it hits an exchange. So you can sell it at better prices.

That being siad. You should mine cpu only coins.

Thank you for your input.

Just out of curiosity where do you get your information that supports the belief that Doge will not reach $0.1? I would be interested in looking at it.

Thanx

[awais3344]

18 doge in how many hours?
doge will not reach a $0.1 and I am being optimistic about it. The most it can reach is $0.01. And it still wont be worth anything at all. You should just keep an eye on new coins released here and mine only cpu coins. doge is --scrypt coin mined using gpus. your cpu cannot compete with gpu. So you are just wasting time and electricity. mine the newly released cpu and you'll be way better and you'll make some money too. But once you have mined the coins. Wait 2-3 months until the coins blocks reward halves, coin difficulty goes high and/or it hits an exchange. So you can sell it at better prices.

That being siad. You should mine cpu only coins.

Thank you for your input.

Just out of curiosity where do you get your information that supports the belief that Doge will not reach $0.1? I would be interested in looking at it.

Thanx

I take my data from coinmarketcap.com and i usually compare a coin to the difficulty rise/block reward in a year or two. if a coin stays alive for that long. Let's say dogecoin is alive for very long, it's last block reward will be 10,000 coins per block that means even if it has a high difficulty, People will still be able to get a hold of some coins. which will keep the price a little low. Coin marketcap can also tell how much coin is total worth. IMO it wont go high unless people start using dogecoin as fiat. Which is not gonna happen.
If dogeroad project starts working like silkroad. There is a huge chance of getting big amounts of cash for your doge. I wish you good luck and since its not worth selling your dogecoins right now. Just hold them.

Make sure you remember to always camp in this alternate cryptocurrency forums and mine on new "CPU only coins". E.g I mined 400+ coins of Frozencoin, which has high difficulty now. if it hits an exchange. I will sell some and keep some. This is how its worth mining with cpu-only coins.