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Author Topic: Profitable Mining Using Cloud Servers - $$$ More Coins - More Money $$$  (Read 18355 times)
ltcifc (OP)
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January 10, 2014, 02:44:15 PM
Last edit: December 21, 2014, 01:21:09 PM by ltcifc
 #1

Before mining, get some FREE Infinitecoin's here: http://infinitecointalk.org/index.php/topic,1317.0.html

This explanation is for Dogecoin, but it works with almost all coins. Check list at bottom

Dogecoin Mining Using Cloud Servers(Thanks to dogecoin.ga)

As it stands, mining solo is very nearly deprecated. The process of finding blocks is now so popular and the difficulty of finding a block so high that it could take days to generate any coins using. While you could simply set a machine aside and have it run the algorithms endlessly, the energy cost and equipment deprecation will eventually cost more than the actual dogecoins are worth. Pooled mining, however, is far more lucrative. You work for shares in a block and when complete you get a percentage of the block based on the number of workers alongside you, less fees.

Step 1 -  Join a pool. To mine in a pool you have to work with a group of other miners on available blocks. The most popular are:
http://doge.netcodepool.org/  
http://doge.cryptovalley.com/  
http://dogepool.net  
http://doge.gentoomen.org/  

For this tutorial I will be using doge.scryptpools.com. Go to https://dogepool.net/index.php?page=register create an account and add a worker.



Step 2  - Choose your cloud server. DigitalOcean.com--official-website.com is one of the more competitively priced simple cloud hosting services in the world; what’s more, DigitalOcean.com--official-website.com has explicitly stated that the mining of Dogecoins is allowed on their servers and you will not be banned for your activities. Some other cloud services have not been so understanding. Create an account at DigitalOcean.com--official-website.com. Click the yellow Sign-Up button on the top-right of the webpage. Choose a secure email address and a password and you’re good to go. Once you are into your account, clicking anywhere will direct you to their Billing page.
 


Hook up a credit card or top off your account with Paypal to get started. Once your billing information is satisfactory to Digital Ocean, you can start creating droplets.
The more cores you have, the more coins per day you will have. The single CPU option does not work well with minerd so I would suggest going with at least two cores.




Next, select the region geographically closest to you.



Next, make sure to choose Debian 7.0 64 bit as your Image.


Next, Create your droplet and your credentials will be sent to your email.

Step 3 -  Dogecoin Minner Installation. Upon receiving your credentials, click to your Droplets menu where you will be able to see each of your Droplets, and select the one that you wish to access. Once there, you can get Console Access through the website itself without having to download Putty. Once there, you can get Console Access through the website itself without having to download Putty.


You will be taken to a page where a black screen will load. This is your command console. Enter ‘root’ as your login, and enter the password provided to your email as the password.

Upon successful login, you’ll be able to enter control your miner and pass it commands in the form of code.
Enter in the following strings exactly.

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
sudo apt-get install build-essential libcurl4-openssl-dev

wget http://sourceforge.net/projects/cpuminer/files/pooler-cpuminer-2.3.2.tar.gz
tar xzf pooler-cpuminer-2.3.2.tar.gz
cd cpuminer-2.3.2
./configure CFLAGS="-O3"
make

You are installing all the necessary drivers and programs to mine Dogecoin, and some of the commands may take some time to fully execute. Be patient, the reward is worth it!

Step 4 -  Dogecoin mining. Now that everything is set up, you are ready to start your Dogecoin miner and point it at a pool. For simplicity sake, I have provided the settings for mining on dogepool.net.To start your miner, enter in the below code with your specific login details.

./minerd --url=stratum+tcp://dogepool.net:4444 --userpass=YourLogin.YourWorker:Password

You may also want to use the --quiet/-q option to disable the per-thread hashmeter.On *nix, you probably also want to use the --background/-B option to fork in the background. Rinse and Repeat for multiple droplets, up to 5, and make sure to invite your interested amigos! You can also change your budget plan and pay for 5 x 8 CPUs (you will generate about 500khash) per hour.
Ps. Remember to destroy Droplets if you are not using them.

BIG PROFITS FOR MINING DOGECOIN, INFINITECOIN, FEDORACOIN
looni
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January 10, 2014, 03:02:01 PM
 #2

Not sure how viable cloud mining is, from a cost benefit perspective, but nice guide anyway.

But there is one problem with it, you are listing doge.scrytpools.com which haven't payed out any doges since about the 28th of december 2013, and the web page is currently down.

Please update it to another pool that is working, I'd suggest dogepool.net or perhaps fast-pool.com...
ltcifc (OP)
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January 10, 2014, 03:38:54 PM
 #3

Not sure how viable cloud mining is, from a cost benefit perspective, but nice guide anyway.

But there is one problem with it, you are listing doge.scrytpools.com which haven't payed out any doges since about the 28th of december 2013, and the web page is currently down.

Please update it to another pool that is working, I'd suggest dogepool.net or perhaps fast-pool.com...
Yeah, sorry about that, kinda older guide, but you can use it for any alt coin. Just chose your pool.
KoningKaas
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January 10, 2014, 04:18:32 PM
 #4

There's coins in your list not supported by this miner, also mining scrypt is a waste of $ most of the time i would recommenced looking into mining a CPU coin.
ltcifc (OP)
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January 12, 2014, 08:05:45 PM
 #5

Post Updated to dogepool.net
ltcifc (OP)
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January 19, 2014, 11:58:48 PM
 #6

This can be used with Infinitecoin, which is the most promising alt coin so far. Mine now and you wont regret it, trust me.
actudoran
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January 20, 2014, 07:08:16 AM
 #7

Hey, I was just about to ask if it's worthwhile doing it for xmp or any other altcoin for that matter. The thing is you cannot oc rented cpus and have no ideea before renting them what kind are they thus one cannot accurately forecast performance or estimated revenue. Is there something amiss on my side or just really confused?
Starscream
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January 20, 2014, 07:29:40 AM
 #8

So if I understood this right, you choose a plan and according to the plan you can mine with 1,2 or 4 cores? So essentially this is for CPU mining? Is it even worth it? Can you get your monthly ROI? Probably not or else everyone would have done it already, including the hosting company.
ltcifc (OP)
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January 20, 2014, 12:41:50 PM
 #9

So if I understood this right, you choose a plan and according to the plan you can mine with 1,2 or 4 cores? So essentially this is for CPU mining? Is it even worth it? Can you get your monthly ROI? Probably not or else everyone would have done it already, including the hosting company.
Coins are going up(or down) all the time, so nobody knows if it will pay off in the end. Like most things in life its a risk and its up to you if you take it or not.
clgy
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January 26, 2014, 10:47:52 AM
 #10

Thank you for the walkthrough.

I've learnt how to start the mining process. What is the code to stop the process?

Thank you.
bronsky666
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January 26, 2014, 11:07:44 AM
 #11

same method with windows azure cloud computing

but to be honnest i do not find it to be interesting, even we the free testing offer (150$ worth free trial)
CPU mining is probably not efficient enough to cover the cost of the cloud machines
clgy
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January 26, 2014, 11:37:27 AM
 #12

What I meant was, supposing I started mining DOGE after typing:
./minerd --url=stratum+tcp://dogepool.net:4444 --userpass=YourLogin.YourWorker:Password

What do I type if I want to stop mining DOGE and change to another Altcoin?

I'm sorry for asking what might be a common sense question to many people.

Thank you.
ltcifc (OP)
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January 27, 2014, 08:07:26 PM
 #13

What I meant was, supposing I started mining DOGE after typing:
./minerd --url=stratum+tcp://dogepool.net:4444 --userpass=YourLogin.YourWorker:Password

What do I type if I want to stop mining DOGE and change to another Altcoin?

I'm sorry for asking what might be a common sense question to many people.

Thank you.

You just enter your other altcoin pool  code.
tootapple
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January 27, 2014, 09:53:00 PM
 #14

What is the hash rate?
ltcifc (OP)
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January 27, 2014, 10:34:16 PM
 #15

What is the hash rate?

Depends on your purchase.
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January 28, 2014, 04:07:30 AM
 #16

What is the hash rate?

Depends on your purchase.

how about for the example you give.
ltcifc (OP)
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January 29, 2014, 01:04:18 AM
 #17

There is plenty of people doing cloud mining, so please post your hash rates Smiley
KoningKaas
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January 29, 2014, 01:14:58 AM
 #18

Mining dogecoin is unprofitable on DO, half the coins on your list cant even be mined by this miner (NXT cant even be mined i think), this guide is unprofitable/unusable in this format.

[edit]

What im trying too say is, if you wanna get refs, atleast hand out correct information and help your commentors. Roll Eyes
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January 29, 2014, 01:54:16 AM
 #19

i don't get why people use vps you can buy a server on ebay for about $100 quad core sometimes 8 core in the end with you're own server you're in control of everything

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January 29, 2014, 05:25:43 AM
 #20

Mining dogecoin is unprofitable on DO, half the coins on your list cant even be mined by this miner (NXT cant even be mined i think), this guide is unprofitable/unusable in this format.

[edit]

What im trying too say is, if you wanna get refs, atleast hand out correct information and help your commentors. Roll Eyes

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