[XMR] Monero - A secure, private, untraceable cryptocurrency

[iCEBREAKER]

Probably another they're pushing is smart mining - operates similar to BOINC client, wherein your CPU will hash monero while your computer is sitting idle.

I2P isn't critical for the initial GUI.  But in-wallet smart mining would be clutch.  Good for noobs and great for the network!

#iNTELLiHASH

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[David Latapie]

My general understanding (and it might be just mine) is that dev team wants to get internals right before releasing GUI, because a fancy GUI with shitty internals is just a polished turd. As far as I know these internals include the database branch, which has been running stable for me for over 2 weeks. (gets the blockchain out of memory)

Correct: Why monero is not user-friendly like most other cryptocurrencies? Why there is no official GUI wallet

Monero is not a Bitcoin clone, and so it's code is entirely new (originally derived from Cryptonote). Similarly to the early Bitcoin days, a lot of pieces have just not been built yet - the puzzle is largely incomplete. There's good and bad that comes with this fact, amongst other things: there is certainly some additional risk as the code is a lot more experimental than that of Bitcoin, while on the other hand, there is also a lot of potential, as Monero is just in it's infancy. A GUI Wallet is certainly an important part of this puzzle, and there are unofficial GUI wallets that can be used (recognizing that they are test-quality software) — see the next question.

The GUI wallet won't be just a CLI wallet with a GUI. I will also cater for payment processors and web wallets (source).

We also plan to have a framework to do SPV-style clients like Electrum, so Windows users won't have to sync the blockchain, etc. (source). Note that the unofficial lighwallet (see next question) is not as light as this solution would be.

I forget what some of the other internals are. I don't know if i2p is something they're trying to do pre-GUI.

Different things, but it could be possible that official GUI ships with i2p. Or not. Different concerns, different teams (Privacy solution)

I'm pretty sure the mnemonic key you get from mymonero.com IS NOT compatible with simplewallet. It can only be used on the web wallet. I think there are plans to make them compatible, but I don't think they are right now.

Confirmed not compatible, but unifying the two is planned.
Regarding smart mining, I like to quote smooth:

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

[nioc]

The GUI wallet won't be just a CLI wallet with a GUI. I will also cater for payment processors and web wallets (source).

I believe the word I should be It and for should be to.

[GingerAle]

Regarding smart mining, I like to quote smooth;

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

Yeah, I've always liked this concept. I'm curious what the thought is on this smart mining though regarding nodes. In this vision, is this client mining towards the clients individual node? Or is the client mining towards a pool? Because in the second, we're asking a user to choose  a pool... unless of course the program just automatically pings all available pool nodes and finds the lowest latency.

I'd rather have the first case, cause more full nodes  = more awesome.

[smooth]

Regarding smart mining, I like to quote smooth;

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

Yeah, I've always liked this concept. I'm curious what the thought is on this smart mining though regarding nodes. In this vision, is this client mining towards the clients individual node? Or is the client mining towards a pool? Because in the second, we're asking a user to choose  a pool... unless of course the program just automatically pings all available pool nodes and finds the lowest latency.

Individual node, but we will have to see how that works out in terms of resources and practicality. We want to not only encourage people to run nodes, but also make it easy and inexpensive to do. There are pretty significant advantages in terms of privacy if you are running your own node, and if you are using this coin at all that's probably something you care about.

[25hashcoin]

Is MyMonero.com legit/secure? Sorry, been out of the loop. Also, any word on the official GUI?

Yes. Its run by Fluffypony. Does some magic where your private keys are always kept client side, so yeah. I've kept some monero there for a while.

Of course, has all the stipulations of a web wallet. (server could be launched to the moon and then you have a really cold wallet you can't access)

re: GUI - word on the street is that its in development. My general understanding (and it might be just mine) is that dev team wants to get internals right before releasing GUI, because a fancy GUI with shitty internals is just a polished turd. As far as I know these internals include the database branch, which has been running stable for me for over 2 weeks. (gets the blockchain out of memory)

I forget what some of the other internals are. I don't know if i2p is something they're trying to do pre-GUI.

Probably another they're pushing is smart mining - operates similar to BOINC client, wherein your CPU will hash monero while your computer is sitting idle.

There's been some other pull requests, but I don't understand them all.

Gingeropolous, with your unofficial noob hour monero dev report, signing out.

Thanks a ton for the response.

[stslimited]

What is the most ideal hardware for mining Monero? How much does it cost and how many kilohashes does it achieve?


Not worried about making ROI, but optimal electricity : hardware ratio would be good, Monero is too liquid to buy at equivalent amounts (please no OTC offers), just need to do some calculations

[iCEBREAKER]

What is the most ideal hardware for mining Monero?

Multiple 1CPU Ubuntu VPS at Vultr.  $5/month each and they don't mind if you mine.   

Use Dallas, LA, and Seattle.  The other locations have older CPUs.

Ref for $5 credit:  http://www.vultr.com/?ref=6804374

[stslimited]

What is the most ideal hardware for mining Monero?

Multiple 1CPU Ubuntu VPS at Vultr.  $5/month each and they don't mind if you mine.   

Use Dallas, LA, and Seattle.  The other locations have older CPUs.

Ref for $5 credit:  http://www.vultr.com/?ref=6804374

hashrate?

[iCEBREAKER]

What is the most ideal hardware for mining Monero?

Multiple 1CPU Ubuntu VPS at Vultr.  $5/month each and they don't mind if you mine.   

Use Dallas, LA, and Seattle.  The other locations have older CPUs.

Ref for $5 credit:  http://www.vultr.com/?ref=6804374

hashrate?

*refers to notes*

~73H/S LA
~65H/S CHICAGO/DALLAS/NEW JERSEY
~53H/S SEATTLE

That's using Lucasjones/cpuminer-multi.  If you're going big, consider investing in a private (GPU?) miner.

[porkcoin]

hello everyone.
  could give me a  xmr logo.

[fluffypony]

hello everyone.
  could give me a  xmr logo.

http://monero.cc/downloads/resources/branding.zip

[grouper fish]

What is the most ideal hardware for mining Monero? How much does it cost and how many kilohashes does it achieve?


Not worried about making ROI, but optimal electricity : hardware ratio would be good, Monero is too liquid to buy at equivalent amounts (please no OTC offers), just need to do some calculations

Right now I think its the 750-ti that gives the best hash / watt rate. This might change in the next months depending on the new GTX 960.

750-ti gives about 250- 300 h/s at 30-35w depending on settings.

You can get a 750-ti for around $100

[GingerAle]

What is the most ideal hardware for mining Monero? How much does it cost and how many kilohashes does it achieve?


Not worried about making ROI, but optimal electricity : hardware ratio would be good, Monero is too liquid to buy at equivalent amounts (please no OTC offers), just need to do some calculations

I would direct you to the mining thread, but the killed search function makes finding that a real bitch.
our own forum has a thread going
https://forum.monero.cc/13/mining-software-and-pools/35/mining-hardware

and then there's the infamouse google document, but I don't trust that anymore - think someone went in and moved things around. Especially with the mobile core i5 processors. That got me real excited.
https://docs.google.com/spreadsheets/d/1MI-ic0Os25hgGUImW54sUIjZY_pUNQNa_W8Se5pRGBs/edit?usp=sharing


Yeop, as grouper posted, the Maxwell architecture nvidias are where its at right now with tsivs ccminer.

750 ti can be had for 99$ NEW (although some people like buying them used on ebay for up to 120$ - why I don't know).

Straight on the board PCIe X16 gets me up to 280 h/s. I haven't gotten 300. what settings?
Using a pcie riser cuts me to 250 h/s, namely because of the 1x pipe. Reportedly, CUDA is influenced by PCI bandwidth apparently.

Right now I have a 750 - 800 h/s rig (3 nvidia 750 tis) thats pulling 200 watts at the wall, and this is with an old timey core 2 duo processor asus p5q pro motherboard. I'm sure if you got a newer motherboard and some 20 watt celeron you could cut it even more.

kilohashes!!!!! HAH!  For extreme hash rate, AMDs will get you there but at the cost of lotsa power. (see gdoc and monero forum thread)

[Drhiggins]

What is the most ideal hardware for mining Monero? How much does it cost and how many kilohashes does it achieve?


Not worried about making ROI, but optimal electricity : hardware ratio would be good, Monero is too liquid to buy at equivalent amounts (please no OTC offers), just need to do some calculations

Currently running a 6x R9 280x rig but just have a crappy celeron on the board.  Pulling 1000-1075 watts at the wall.  About 3.2KH/s on the hash rate.
Windows 8 - 2x Thermaltake 1200watt PSU's - 8GB RAM - SSD - ASRock H81 BTC Mother Board - Claymore 9.1 for GPU


I also have a gaming machine I run as a miner when I'm not on it. I have an AMD FX8150 8 core CPU and that does about 300H/s with just 6 of 8 threads running. Run Claymore for CPU.
I also have 2 older SLI'ed Nvidia GTX560's that run CCMiner for GPU and they pull about 220-280H/s combined. So I pull and extra 500-550 H/s when this gaming machine is running.  Only pulling about 500 watts with this machine.

[jehst]

In the future, will every computer on the planet automatically smart-mine the most profitable CPU coin while idle?

Why not? Let hardware pay for itself. Let your router sell WIFI by the kb to people passing through your urban neighborhood. Let your CPU mine XMR. Let your HDD rent out space on Storj.

A new era of hyper-efficiency.

[David Latapie]

I believe the word I should be It and for should be to.

Fixed, thank you!

In this vision, is this client mining towards the clients individual node? Or is the client mining towards a pool? Because in the second, we're asking a user to choose  a pool... unless of course the program just automatically pings all available pool nodes and finds the lowest latency.

Or just use pools which gives full profit to dev fund, like backup-pool and cryptonotepool.org.uk. Nothing certain yet, the three options (full node, lowest latency pool, full profit to dev fund... all have advantages.

In the future, will every computer on the planet automatically smart-mine the most profitable CPU coin while idle?

Why not? Let hardware pay for itself. Let your router sell WIFI by the kb to people passing through your urban neighborhood. Let your CPU mine XMR. Let your HDD rent out space on Storj.

A new era of hyper-efficiency.

That's why smart grid is the next big thing. This is already being considered for electric vehicles (once they are full, they sell the excess generated electricity (solar panel, for instance but also over-threshold emergency capacitors) to the grid. I wrote a paper some months ago about a new business model for taxis combining EV (electric vehicle), AV (autonomous vehicle) and taxi.
And you probably know by then that the future of Internet of Things will be blockchain-powered (Nick Szabo, IBM-Samsung, devclub where I spoke about the dangers of transparent blockchain computing - you see where I am heading).

[nakaone]

Regarding smart mining, I like to quote smooth;

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

Yeah, I've always liked this concept. I'm curious what the thought is on this smart mining though regarding nodes. In this vision, is this client mining towards the clients individual node? Or is the client mining towards a pool? Because in the second, we're asking a user to choose  a pool... unless of course the program just automatically pings all available pool nodes and finds the lowest latency.

Individual node, but we will have to see how that works out in terms of resources and practicality. We want to not only encourage people to run nodes, but also make it easy and inexpensive to do. There are pretty significant advantages in terms of privacy if you are running your own node, and if you are using this coin at all that's probably something you care about.

is this actively developed or a long-term idea?

[GingerAle]

Regarding smart mining, I like to quote smooth;

The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended)   [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized.

Yeah, I've always liked this concept. I'm curious what the thought is on this smart mining though regarding nodes. In this vision, is this client mining towards the clients individual node? Or is the client mining towards a pool? Because in the second, we're asking a user to choose  a pool... unless of course the program just automatically pings all available pool nodes and finds the lowest latency.

Individual node, but we will have to see how that works out in terms of resources and practicality. We want to not only encourage people to run nodes, but also make it easy and inexpensive to do. There are pretty significant advantages in terms of privacy if you are running your own node, and if you are using this coin at all that's probably something you care about.

is this actively developed or a long-term idea?

Actively developed. if you know how to navigate github (or search some posts up), there's an orangejuice branch on project-monero that has smartmining. It required dependencies that were beyond my noob ability to make it build.

[stslimited]

What is the most ideal hardware for mining Monero? How much does it cost and how many kilohashes does it achieve?


Not worried about making ROI, but optimal electricity : hardware ratio would be good, Monero is too liquid to buy at equivalent amounts (please no OTC offers), just need to do some calculations

Currently running a 6x R9 280x rig but just have a crappy celeron on the board.  Pulling 1000-1075 watts at the wall.  About 3.2KH/s on the hash rate.
Windows 8 - 2x Thermaltake 1200watt PSU's - 8GB RAM - SSD - ASRock H81 BTC Mother Board - Claymore 9.1 for GPU


I also have a gaming machine I run as a miner when I'm not on it. I have an AMD FX8150 8 core CPU and that does about 300H/s with just 6 of 8 threads running. Run Claymore for CPU.
I also have 2 older SLI'ed Nvidia GTX560's that run CCMiner for GPU and they pull about 220-280H/s combined. So I pull and extra 500-550 H/s when this gaming machine is running.  Only pulling about 500 watts with this machine.

I see, that's way too low, all that to maybe get ~100 Monero a month?