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

[c789]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

Here's a few random thoughts from my experiences: I only mine in the winter since mining will produce a good amount of heat. You'll want a desktop computer and not a laptop. Laptops can mine but they're not designed to handle the heat that constant high CPU use produces. I've done it using 50-75% of the cores on the laptop CPU but it's not recommended. If you're using GPUs, get a power supply that is rated at least 1.2x the amount of watts your system will use. Otherwise, the power supply (PSU) will wear out faster. Your CPU use will be minimal when mining on GPUs, and you could even mine your CPU while mining on your GPUs. When I've done that, I limit the CPU mining to 50-75% of the CPU cores so there's enough CPU available for other processing (SSH, crons, etc.).

[Hueristic]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

[GingerAle]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

[Hueristic]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

I would say yes but tweaking would certainly help. For pure Hash I'd guess Pascal will stay ontop.

[Blazin8888]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

I would say yes but tweaking would certainly help. For pure Hash I'd guess Pascal will stay ontop.

How much would I need to spend on a set up to make me 50 - 100 XMR per day? Money is no option but will it pay itself off?

Anyone here interested in all expenses paid flight / food / hotel to help set one up in near future? + set up fee

[owlcatz]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

I would say yes but tweaking would certainly help. For pure Hash I'd guess Pascal will stay ontop.

How much would I need to spend on a set up to make me 50 - 100 XMR per day? Money is no option but will it pay itself off?

Anyone here interested in all expenses paid flight / food / hotel to help set one up in near future? + set up fee

You would need to figure out what GPU's you want, their hashrates for whatever mining software you plan to use, then do the maths.

According to a simple mining site calculator, right now 135 KHs earns ~ 100.98 XMR/day

I have two Radeon R9270x's I get about 380-400 Hs on each one. So, if i were using these cards, I would need roughly 375 of them in total to earn 109 XMR/day.  (So yeah, bad example for a GPU, but that's how I would approach it).

Disclaimer - I suck at, and hate maths, so don't tear me up too much for just trying!

[GingerAle]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

I would say yes but tweaking would certainly help. For pure Hash I'd guess Pascal will stay ontop.

How much would I need to spend on a set up to make me 50 - 100 XMR per day? Money is no option but will it pay itself off?

Anyone here interested in all expenses paid flight / food / hotel to help set one up in near future? + set up fee

Okay, so at current network hashrate, thats almost 178 Kh/s to earn 100 XMR per day, 89 Kh/s to earn 50 XMR per day.

Common specs for current hardware out there is

750 ti = 250 h/s, 33 watts ... one model gets 280 h/s (the PNY overclocked one)
290x = 780 h/s, somewhere around 230 watts

No idea what the new cards will do.

assuming you want efficiency, we'll use the 750 ti. So thats 89,000 / 280 = thats 318 cards. They go for 100$ each, so thats $32,000 in cards alone. Then for every 6 cards you need a motherboard, CPU, ram, HD, PUS, so thats 53 computers * 200$ = $10,600. So we're up to $42,600, assuming these prices would work.

You still want to earn a minimum of 50 xmr per day?

[Blazin8888]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

I would say yes but tweaking would certainly help. For pure Hash I'd guess Pascal will stay ontop.

How much would I need to spend on a set up to make me 50 - 100 XMR per day? Money is no option but will it pay itself off?

Anyone here interested in all expenses paid flight / food / hotel to help set one up in near future? + set up fee

Okay, so at current network hashrate, thats almost 178 Kh/s to earn 100 XMR per day, 89 Kh/s to earn 50 XMR per day.

Common specs for current hardware out there is

750 ti = 250 h/s, 33 watts ... one model gets 280 h/s (the PNY overclocked one)
290x = 780 h/s, somewhere around 230 watts

No idea what the new cards will do.

assuming you want efficiency, we'll use the 750 ti. So thats 89,000 / 280 = thats 318 cards. They go for 100$ each, so thats $32,000 in cards alone. Then for every 6 cards you need a motherboard, CPU, ram, HD, PUS, so thats 53 computers * 200$ = $10,600. So we're up to $42,600, assuming these prices would work.

You still want to earn a minimum of 50 xmr per day?

How long would this hardware last me?

How long would it generate me 100 xmr per day?

[owlcatz]

Those are all factors that you would have best gauge for yourself, based off both known and unknown variables, much like any kind of mining:   The future price of XMR, the power costs you will consume, the shrinking block rewards, the choice of cards you make, the software you run, how you plan to cool the room etc etc etc... Now you see how complicated the question really is.  

Edit - I somehow missed Gingerale's reply, sorry - Very good, and is exactly why I would never even attempt this, I only mine for fun tbh.

[GingerAle]

How do I mine XMR? - never mined anything before (complete miner noob)

How much XMR can I mine per day if I have a lot of cash to spend on a good set up?

If your going to buy Gpu's then wait for the RX-4xx results. I think Polaris will become king of H/W.

i wonder if our existing miner software will be compatible.

I would say yes but tweaking would certainly help. For pure Hash I'd guess Pascal will stay ontop.

How much would I need to spend on a set up to make me 50 - 100 XMR per day? Money is no option but will it pay itself off?

Anyone here interested in all expenses paid flight / food / hotel to help set one up in near future? + set up fee

Okay, so at current network hashrate, thats almost 178 Kh/s to earn 100 XMR per day, 89 Kh/s to earn 50 XMR per day.

Common specs for current hardware out there is

750 ti = 250 h/s, 33 watts ... one model gets 280 h/s (the PNY overclocked one)
290x = 780 h/s, somewhere around 230 watts

No idea what the new cards will do.

assuming you want efficiency, we'll use the 750 ti. So thats 89,000 / 280 = thats 318 cards. They go for 100$ each, so thats $32,000 in cards alone. Then for every 6 cards you need a motherboard, CPU, ram, HD, PUS, so thats 53 computers * 200$ = $10,600. So we're up to $42,600, assuming these prices would work.

You still want to earn a minimum of 50 xmr per day?

How long would this hardware last me?

How long would it generate me 100 xmr per day?

no idea. The emission curve is pretty sharp

https://monerobase.com/Emission

and the hashrate has been increasing as more people get interested

http://chainradar.com/xmr/chart

edited to add: the good thing about monero and being a monero miner, is that the tail emission means mining will always be rewarded, regardless of transaction fees.

[nioc]

Emissions steadily declines and one year from now it will be 60% of what it is now.  Each 2 minute block is approximately 11.7 Monero now vs 6 in 12 months.

[smooth]

and the hashrate has been increasing as more people get interested

http://chainradar.com/xmr/chart

edited to add: the good thing about monero and being a monero miner, is that the tail emission means mining will always be rewarded, regardless of transaction fees.

Interesting to see the hash rate finally rising after stagnating for months as the Monero price climbed. I guess the latest rise in BTC price finally pushed the profitability to the point where people pay attention.

[smooth]

How long would this hardware last me?

The GPUs will probably last a long time and still have value, as in many years. If there is no profitable GPU mining to do (XMR or otherwise), you can sell them off on eBay to people building or upgrading PCs still recoup some value even years later. I had some GPU miners running on and off for 3 years and when I sold some, I still got back most of what I had paid for them (low promotional prices with rebates and such for the most part). I got lucky and had no fan failures (or other failures) over a few dozen GPUs but others have had worse experience, so you may need to factor in some budget for replacing fans and failed cards. I think it is kind of hit or miss on the quality you get when you buy them.

If you are buying hundreds of GPUs the economics may be somewhat different.

It may still be more profitable to mine ETH (or something else?) and trade it for XMR. I haven't looked at the numbers recently.

[DaveyJones]

and the hashrate has been increasing as more people get interested

http://chainradar.com/xmr/chart

edited to add: the good thing about monero and being a monero miner, is that the tail emission means mining will always be rewarded, regardless of transaction fees.

Interesting to see the hash rate finally rising after stagnating for months as the Monero price climbed. I guess the latest rise in BTC price finally pushed the profitability to the point where people pay attention.

Could have also to do with the Asic-Takeover at x11-Coins making them no longer viable for GPU´s ... so they would switch to Ethereum or XMR... is my guess.

[Blazin8888]

Thanks for the information everyone. Couple more questions...

1. How many XMR are in circulation?

2. How many XMR are created per month?

3. Will there be an android wallet and windows wallet?

[magico]

Thanks for the information everyone. Couple more questions...

1. How many XMR are in circulation?

2. How many XMR are created per month?

https://docs.google.com/spreadsheets/d/1qXi7zUSIh7F6UuSuhOryyFbHEy_LJuym3I3neAga_2s

[Chicken76]

What is the best method (Ok, that is very subjective. Let's say "what are some of the tried and trusted methods") to buying Monero with fiat in Europe?
Send Euros to Kraken and exchange to Bitcoin, withdraw btc to Poloniex and exchange to Monero? Any more straightforward method that's safe?

[netmonk]

What is the best method (Ok, that is very subjective. Let's say "what are some of the tried and trusted methods") to buying Monero with fiat in Europe?
Send Euros to Kraken and exchange to Bitcoin, withdraw btc to Poloniex and exchange to Monero? Any more straightforward method that's safe?

You can go in IRC and register on #monero-otc, hand to hand exchange.
This is how i bought my 200 first monero with paypal transaction.

[Chicken76]

You can go in IRC and register on #monero-otc, hand to hand exchange.
This is how i bought my 200 first monero with paypal transaction.

How is this safe? If I don't see the Monero will Paypal refund me?
Besides, do we really recommend paying Paypal their high fees?

[phishead]

You can go in IRC and register on #monero-otc, hand to hand exchange.
This is how i bought my 200 first monero with paypal transaction.

How is this safe? If I don't see the Monero will Paypal refund me?
Besides, do we really recommend paying Paypal their high fees?

If I'm not mistaken, I think they use the "web of trust" thing with their gpg keys... Kind of like the trust system they have here on Bitcoin talk, I guess. There aren't too many people who frequent there, but the people who are there seem to be very well respected/trusted members of the community.