Thoughts on Honeyminer?

[siddartha1492]

The app seems very user friendly and I also liked the referral structure. Only 5%-10% of company's commission and not the user's. Even the company commission is 2%-8% which is very low compared to most other online miners which take up to 30%!! This will certainly enable users to earn much more.  But yes, personally I think it is a waste of time. There are far better ways to earn than burning your graphics card, electricity and have lower PC performance. If someone has cheap resources then they can surely go for it.

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[player514]

The app seems very user friendly and I also liked the referral structure. Only 5%-10% of company's commission and not the user's. Even the company commission is 2%-8% which is very low compared to most other online miners which take up to 30%!! This will certainly enable users to earn much more.  But yes, personally I think it is a waste of time. There are far better ways to earn than burning your graphics card, electricity and have lower PC performance. If someone has cheap resources then they can surely go for it.

See, the issue here is that if they're taking such a low cut and the users are making so little money, how are they going to sustain themselves?

A few ideas I have are that:

• Maybe they really don't have a lot of employees / things that need money over time. This would mean that they get to spend less on themselves, resulting in pretty much pure profit
• Their service will not often be worked on. Now that they have the proof of concept, they'll keep using it as they do until people get tired of it, at which point they'll somehow bring some interest back with an update of sorts.
• They just go out of business because their business model does not bring in enough income nor generate enough curiosity

As much as the idea is cool, I see the general consensus is that Honeyminer is a waste of time and resources for most people involved. Someone earlier in the thread mentioned just using a node.js coin to mine a shitcoin, and honestly, that might be better than this as far as I know.

[cryptovally01]

Honeyminer seems like a really good mining platform for people who cannot afford to do ASICS mining, however, if it safe or not and if it causes any damage to your devices hasn't been tested yet. Moreover, the amount of coin it mines is very low as the process is slow compared to other mining process available. Hopefully, these shortcomings will be looked upon by the developers.

[OffGrid54]

I hope Honeyminer which is similar to minergate won't cause harm to any device that is being used to mine it. Moreover, there are some shortcomings which is definitely need to be worked on by the developers. Hopefully, it will become a very good mining tool once it comes out of beta phase.

[WaffleMaster]

The company makes money by taking cuts, so I think they have a decent platform for themselves, but the average user makes very little money.

Regardless if the average user is making just a little money, the ethics involved with them profiting only from taking cuts is a really good sign. On that fact alone I would say they are a great company and believe that they will have good organic growth if it is truly how they make their money. Adsense never hurt either

[Raja_MBZ]

Seems interesting, I've given it a try and this is how I'd like to review it:

1. Interface looks similar to NiceHash desktop miner which I used in 2015 (it used to be one-click application, I'm not sure if they still have it as they've mostly switched to GPU-only mining applications), except for few fancy graphics upon first-time opening.

2. No threat detected by my Windows Defender.

3. Not very much optimized for high-end GPUs (I tried it with my RX 480/470).

4. Working on my low-end laptop.

5. Good for mining mass-adoption.

I'm curious, how did it work on your low-end laptop? Around what was your profit?

It's nice to see it wasn't a security threat and that it was pretty easy to use.

Core i7 4th generation with no dedicated graphics. Around 10 cents worth of satoshis a day, already uninstalled.

[BestBoardroom36]

It is still under developing. Yeah it’s likely nicehash. I think if it can give the user less withdrawal fee and high payouts then maybe people will go for honeyminer.

[CrucialTechnology57]

It seems very user friendly. It is still a beta version. It usually mine xmr and no other coin now. I hope it will develop more and gain more popularity.

[ExceedBlue012]

Thank you so much for this article on honeyminer. It is great that this company paying attention to crypto with this platform. Bit functionalities very same as nichash but what honyminer is very user friendly

[ExpediteStyle201]

Well the approach of honeymine is nit bad but it seems some improvement has to done on it. It has only one version that is the beta one what only works on windows only.

[-Rodger]

Hello, new here.

I have been using Honeyminer for a few days now.  Having GPU problems with some older machines and older GPU's, but the biggest problem is multiple GPU's are not working properly at all.  Super low hash rates on all GPU's except the machine that starts up first.  It will have someplace around 35Mh/s or so, but every GPU on either the same machine or on other machines using the same login, will be somewhere around 2.9Mh/s or so.

Been working on this with tech support at Honeyminer, but they are not able to fix it.  Actually an upgrade came in and it did nothing to fix it either, even though the upgrade was suppose to be for GPU's no working or working properly.  As a use-to-be programmer, it would seem a very simple task to fix this sort of thing, as it is obviously related to the number of GPU assigned to a single login.  But then again, I have not programed for about 20 years or so, so maybe things like this are not easy to fix anymore, HA. 

Anyways, what I see here is GPU's doing their, work as all of the GPU's are running full out.  How that would be possible and not get even close to acceptable hash rates is on any of them except the first one starting is pretty hard to figure.  I hate to say it, but the simple answer here is it's setup this way purposely.  If so, why?

I know my guess, but since I could be wrong, I'll not spell it out.

Anyone else seeing this on Honeyminer if using multiple GPU's on the same login?

Curious minds would like to know.

-Rodger

[Ros-In]

• Avast block honeyminer and I had to make an exception.
• CPU Only with core i3 -- found nothing (0 sathoshi monthly potential after 12 minutes honeyminer running).
• Multiple GPU -- miner console shown AMD RX560 and AMD RX580, but I didn't see nVidia Gtx 1050 Ti. I'll prefer coins4hash than honeyminer if I need withdraw btc.
• Already uninstalled.

[Raja_MBZ]

Wow...

Honeyminer Signs Up 50K Users for Easy Crypto Mining App

Revealed exclusively to CoinDesk, the startup's user base has swelled to almost 50,000 since launching in June.

https://www.coindesk.com/bitcoin-gpu-crypto-mining/

[maumaugurin]

I've just given HoneyMiner a glance and their feature of working with any electronic device is really remarkable because there are many who can't use it due to having no laptop, so it's a really good feature. They are pretty much good, but as you said , low profit stands as an obstacle to their way of being a relatively good coin.

[pixie85]

Core i7 4th generation with no dedicated graphics. Around 10 cents worth of satoshis a day, already uninstalled.

If this is what the application is capable of I'm not seeing a great future ahead of them.
Even if it were to be 50c with a god graphics onboard it's like nothing when you have to add fees and the power  bill. What will a good computer be able to mine? If it's $10 a month or less nobody is going to run it. I think it's getting popular now because people don't know the real numbers and want to try it out but the results are disappointing.

[quicksilv3r]

Honeyminer makes mining and earning money simple for anyone with a computer.
Signup at http://x.co/honeyminer  << 1000 free Satoshi REFERRAL link.

[Khalil4]

good

[sabiansoldier]

Been using it a few weeks now - you're not going to make a fortune with a consumer grade pc or anything but for what its worth its fun and easy to use. I'm enjoying it so far

[nc50lc]

Been using it a few weeks now - you're not going to make a fortune with a consumer grade pc or anything but for what its worth its fun and easy to use. I'm enjoying it so far

Today, we're not really making any profit with Altcoin mining either (small scale); with just a few exceptions though.
I didn't use the service because of the obvious reasons (minimum payout but they accept "low hashrates") which will take years even with GPUs with their non-optimized miner.

Is this the same as Coinhive? ...But pays in Bitcoin.
If you don't know coinhive, it's kind of a miner embedded in the site's code to mine via browser using the CPU of the PC (monetization alternative).
All the hashes will be summed to the website owner's account to be used to mine Monero in coinhive's own pool.

[Last of the V8s]

coinhive is fucked https://ambcrypto.com/coinhive-announces-termination-of-operations-citing-econmic-inviability-in-light-of-monero-hard-fork/
while honeyminer remains the frontrunner in this biz