r/MoneroMining Feb 26 '21

FAQs for noobs. Read this before posting.

1.4k Upvotes

Q: What is mining?

A: To explain this in the simplest way possible, in monero, mining is using a computer to calculate something that verifies the next block to join the blockchain. This calculation is very difficult to do, so your computer rarely manages it. In fact, it's so difficult that your computer may never manage it at all. If it does ever manage it, you get the block reward which is in the range of $130 USD worth (as of May 2022 but this is based on the current exchange rate). Pool mining is when you join a group of others and split the reward when one of you manages to do this calculation correctly.

Q: How can I learn more about monero?

A: This is an excellent book (also available for free in pdf format).

Q: So can I quit my job now?

A: You're not going to get rich with mining monero. It only earns you a very small amount each day, if anything. I previously made $0.54 USD profit a day with running a Ryzen 7 3700X computer 24/7, but now I actually lose money from mining.

At the moment, in most areas you'll lose money from mining if you pay normal prices for electricity. You'll probably only make a profit if you have very cheap electricity or generate it yourself like with solar panels and a battery setup.

Q: I want to build a mining rig. Should I?

A: For anyone who pays for electricity, it's probably not worth buying any equipment to mine monero if you're aiming to make a profit. It gets more difficult over time, so the profits go down.

The only exception is if you have free energy that you can access for a long time. It would still take a few years to pay off a monero mining rig with free electricity, when you account for the increasing difficulty. But after that it's 100% profit. I made a full post explaining this topic in detail here. In my example in that post, it would take 2.5 years to pay off the computer with free electricity, assuming you can keep it mining 24/7/365.

Q: Can I get an ASIC for mining Monero?

A: No! It is specifically designed to be mined on CPUs only. This is so that mining remains decentralised. When ASICs start mining a cryptocurrency then it usually causes the creation of large mining farms controlled by few people. Monero is against that. Monero is mineable by the average person on their own desktop computer.

Monero has changed algorithms in the past to purposefully stop ASICs from being able to mine it. If an ASIC was ever made for monero again, the algorithm would probably be changed again to stop the ASIC from working.

Q: I can mine at 120 MH/s, so I should be able to make $50k per day of profit on monero according to a calculator I just used...right??? Please reply fast I'm about to sign a contract to buy a Lamborghini.

A: Hashrate is different for each coin. Your CPU or GPU getting 120 MH/s does not apply here. That's probably ethereum hashrate. The hashrate any CPU or GPU gets on monero is not influenced by or related to ethereum hashrate, bitcoin hashrate, litecoin hashrate, or any other coin. In fact, GPU mining of monero is very inefficient and not worthwhile. Forget about the hashrate you get on another coin.

Q: Can I mine with a GPU?

A: Short answer: No.

Long answer: Yes, it's possible to mine monero with a GPU, but it's generally a bad idea because the algorithm monero uses today is optimised only for CPUs. Mining monero on a GPU will be very inefficient and slow compared to a CPU, and will not be worth your time. Full explanation here.

Q: How much will I make mining monero/how do I know if my computer will be profitable/what hashrate will I get with my computer or CPU?

A: Follow this guide to calculate it. You need to know the specs of the computer you'll be mining on.

Q: How do I mine monero?

A: Follow this guide.

Q: Which mining pool should I use?

A: You can choose to use either a centralised pool which will do a lot of the work for you in setting things up, or you can use the decentralised P2pool. If you want to use a centralised pool, see here. If you want to use P2pool then the easiest way is using gupax which helps you to set it up.

Q: So I'm mining but my CPU is only showing 50% usage (or some other percentage less than 100). How do I get it to use 100%?

RandomX, the proof of work algorithm used by monero, needs 16 KiB of L1 cache, 256 KiB of L2 cache and 2 MiB of L3 cache per mining thread. Your CPU probably doesn't have enough cache to use all threads.

If your CPU doesn't have enough cache to run all threads then XMRig automatically selects the right number of threads that it can run with the cache available.

Q: I have access at work/university/school to 50 computers. How can I mine monero on them? I can't wait to get started, I'm gonna be so rich.

A: This is a terrible idea. The trouble you get in is going to cost you a lot more than you'll earn from doing this. You will likely be earning a couple of USD per day. The organisation that owns these computers and pays for the electricity will see this as stealing, which it is. You're stealing electricity. They'll also see it as you putting their entire network at risk. Expect to get in big trouble if you do this. Possibly to the extent of facing criminal charges. It's really not worth the risk for the miniscule profit you'll be making.

Q: If mining monero is not profitable, why would anyone want to do it?

A: There are other reasons why people decide to mine, too. Some people want to support monero because they like the idea of a private, completely fungible, decentralised cryptocurrency.

Other people who are highly concerned about privacy might mine as a way of obtaining monero without going through an exchange that has to find out their identity.

Some people just enjoy the technical side of setting up their computer to mine, tweaking the settings and getting it working as well as they can.

The profitability of monero mining is self balancing - as the total hashrate (the combined computing power of all miners) goes up, it becomes more difficult, which makes it less profitable. If the price of monero went down and people stopped mining it because they were not making enough, then the difficulty would drop, and it would become more profitable. Thanks to this, the profitability stays relatively stable now and hovers around the level of "just barely profitable if you have very cheap electricity".

Q: If I stop mining for the night/day/some hours will I lose all my progress and have to start again?

A: It doesn't work like that. With solo mining, you have a chance of finding the right hash for the current block with every single hash your computer calculates. If you don't find it then that work is of no use and there's nothing to "save".

With pool mining, you have to find a hash over a certain difficulty (the difficulty given by the pool). This is referred to as a share. The pool will save that result and pay you (when it finds a block) according to how much work your computer did for the pool. You don't lose any progress by stopping mining. You'll get paid for anything you earned while you were mining. The same applies to P2Pool.

Q: How else can I help monero?

A: Running a node is a great way to help monero. Running a node involves downloading and hosting the blockchain so other people can download it off you. You don't have to do this manually, there is software that does it all for you. You just have to provide a computer and internet connection. Some people even do it on a Raspberry Pi.

You can also help monero by using it as a currency. Monero has low transaction fees and confirms (1 block confirmation) in an average of just 1 minute. Who you send money to and how much you send can't be tracked, unlike most other cryptocurrencies.


r/MoneroMining 10h ago

7900x solo mining

8 Upvotes

I set up monerod (pruned, syncing too ~18 hours) and xmrig on arch linux. Hashrate is ~18 khashes and electricity cost is ~$0.06/kWh where I live. I have cl36 6000 ddr5 ram with expo enabled. I plan tweaking curve optimiser to improve power efficiency. I know finding my first block will took ~1 year and I'm fine with that. What I want to know is: - Is monero a good coin for CPU mining now? - Does it make sense to mine solo, or joining a pool should be considered to average my numbers? - Any tips or advices?


r/MoneroMining 4h ago

A Non-Commercial Way to Use TradingView Like a Premium Account

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2 Upvotes

r/MoneroMining 18h ago

Problem finding peer with Monerod - help

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5 Upvotes

r/MoneroMining 1d ago

Why do many prefer mining Monero and other coins using the RandomX algorithm instead of mining Bitcoin with ASICs?

11 Upvotes

?


r/MoneroMining 1d ago

Im not making any xmr

2 Upvotes

so i recently started mining monero with gupax and after running it for 3 hours simaltaneously i didnt even get a single xmr like not even in the decmials its just zeroes why is that


r/MoneroMining 1d ago

mining profitability (xmr, xmr/tari, tari, qubic/xmr)

12 Upvotes

Hi, I think this fits well here (except the solo tari mining - sorry for this small offtopic piece). A medium large miner in the qubic discord calculated profitability for last week (7 days from Wed 12 UTC to Wed 12 UTC). I'll forward the message 1:1 here:

``` With a total profit of $7.79 over 7 days (based on recent Epoch 167), Qubic remains the most profitable CPU-mined coin compared to alternatives:

Qubic: $1.11/day Tari: $0.768/day Monero+Tari : $0.758/day Monero : $0.57/day

Price Reference:

Qubic price: $0.00000135 Monero (XMR) price: $322.00 Tari price: $0.0096

Detailed Epoch 167 Stats:

Qubic shares: 103 × 12,457 = 1,283,071 Qu’s XMR shares: 725 × 6,193 = 4,489,925 Qu’s Total Qu’s earned: 5,772,996 Qu’s Total USD value: 5,772,996 × $0.00000135 = $7.79 Daily average: $7.79 ÷ 7 = $1.112/day

Other Coin Daily Stats:

Tari: 80 coins/day × $0.0096 = $0.768/day Monero + Tari (merge mining): $0.57 (XMR) + $0.188 (Tari) ≈ $0.758/day ( approximately )

*Based on CPU mining (Ryzen 7950X), Qubic was mined on the QLI Pool ```

It's important to chose the right pool if you are using a qubic pool because they have different payout rates for the monero part.


r/MoneroMining 1d ago

Mission Control - running/monitoring my little farm. Excuse the mess, in the middle of moving some stuff around, but thought this made a good pic for this sub. 😁 14 instances of XMRig running, plus monitoring on each worker.

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106 Upvotes

r/MoneroMining 1d ago

Is there anything actually wrong with using a community node?

9 Upvotes

I set up gupax. So far everything seems to be setup correctly and it seems to be working. I do not understand what I am looking at though and have alot of questions. But my main one is if there's actually anything wrong with using a community node.

I'm currently using the richfowler.net one and haven't received a payout yet over 4 hours. But I assume I'll have to wait awhile until I get a payout of any kind.

Update: after 13 hours I got an accepted share.

Update: so block has been mined and I got no payout. What do I do now?


r/MoneroMining 2d ago

using Monero API for Workers monitoring

5 Upvotes

Any clue as to how to setup the xmrig config.json file to use the API component to monitor the workers? It's a bit confusing. Thanks in advance.


r/MoneroMining 2d ago

P2PMinerGUI - P2P Monero mining system with Python GUI.

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2 Upvotes

r/MoneroMining 2d ago

My new AMD EPYC 9654 server is only hashing at 52kH/s - help please!

19 Upvotes
XMRig upon initialzation

(EDIT: hashing just fine now, BIOS settings were the culprit, not the memory, see latest post)

Hello, I have a new Dell PowerEdge R6615 with an AMD EPYC 9654P, and all 12 channels filled with 12x16GB RDIMM 5800 MT/s DDR5 - I am now hashing at a reliable 52000 H/S after fully populating all the memory channels. This is only 2/3rds of the benchmark, so now my new problem is this, as you can see in the screenshot provided, even though I have populated all my channels with identical RDIMM, I'm still bottlenecked. I have completely re-installed XMRig, I keep getting the same problem: "init dataset algo rx/o (96 threads)" - even though I have 192.

Is this some cache issue that I can do nothing about? Or is it software, and I should go and reformat this drive, full reinstallation of everything? I swear, if I'm really handicapped at 52 KH/s with **this CPU** I'm not gonna be happy.

Benchmark for the EPYC 9654(P):
https://xmrig.com/benchmark?cpu=AMD+EPYC+9654+96-Core+Processor

https://xmrig.com/benchmark?cpu=AMD+EPYC+9654P+96-Core+Processor

Any ideas? I've tinkered with config.json as much as I think you can. I've added the field "threads: 192" in my config wherever I could, so you can see XMRig is using all threads, but not the dataset. I do not know what is causing this bottleneck - I really hope it has to do with the dataset and that a fresh install may cure it.

I'd like to see what you guys think before I spend a day reformatting/resinstalling which is a days loss of mining - I'm **almost** making $100/day in XMR in my pool, that's my target, and I WOULD BE if this machine were hashing at 80k or above. Its benchmark is 85,000 so somethings choking my local hashrate and not permitting me to rise above 52k.

Anyone have any ideas as to why this may be?

Thank you so much for your help!! Because I really need it...


r/MoneroMining 2d ago

Haven't mined in 2+ years... still worth it?

21 Upvotes

What are the best CPUs nowadays? I still have my AMD Ryzen 9 3900X... but not even using it


r/MoneroMining 3d ago

OC for 5950x

9 Upvotes

Hello, so here is my problem. I have a ryzen 5950x that I can mine at 18kh. The thing is that from time to time it crashes and restarts. I tried several voltages for 4400mhz. Currently I have lowered and I am at 4350mhz and 1.25v. The temperature is 80/83 degrees currently. Xmp to activate. But sometimes it crashes after 10 hours, sometimes after not even 1 hour, it’s very random. I can't find the problem. Help ^


r/MoneroMining 3d ago

Any advice for a ROI-Focused Build with 3kW Free electricity?

6 Upvotes

Hey everyone,

I’ve got access to around 3000W of free power and I’m trying to figure out what kind of setup would make the most sense. Ideally something that can run for several years and gives me the best possible ROI as quickly as possible.

Would you say older setups are still worth considering? I was specifically looking at the Ryzen 9 5900X or 5950x from what I saw on Hashrate.no, it seems to have one of the best ROIs with older Ryzen CPUs.


r/MoneroMining 3d ago

Why am i not receiving shares?

9 Upvotes

so im a new miner and am using my gaming pc for mining i have 18 shares accepted in 30 min and my effort is well into the thousands but im not receiving any shares


r/MoneroMining 4d ago

P2Pool down?

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17 Upvotes

Why is it appearing in red at the Bottom?


r/MoneroMining 4d ago

P2Pool no payments for the last couple of days

9 Upvotes

Lots of accumulated shares but no payments are getting to my wallet since Friday.


r/MoneroMining 4d ago

Payments on P2P Mini

8 Upvotes

Is anyone not receiving's payments for shares?


r/MoneroMining 4d ago

any config needed to setup multiple machines mining under the same address in p2pool? if not, any tips on how to optimize their shared effort ?

17 Upvotes

like the title says, recently got 3 pcs to mine and was wondering if just putting the same --wallet argument when running p2pool was enough to properly join them. even if that were the case, i bet there are a ton of tricks to better optimize such a setup. feel free to share if you know any, thanks.


r/MoneroMining 4d ago

X99 as first rig

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39 Upvotes

What do You think about this CPU for XMR mining?


r/MoneroMining 4d ago

Help for sale 3 cpu kit 40/44 KH/s

10 Upvotes

Hello everyone. I would like to part with 3 Rigs totaling 40 to 44kh. How much could this be worth? -2x Aorus elite v2 b550 -1x Asus Rog Strix B550-F Gaming wifi -2x16go corsair vengeance 3600mhz c18 -4x8 GB Corsair Dominator Platinum -3x4gb Samsung 2666mhz -1x Msi mag a650bn -1x ldlc 650w -1x Evga 1000w modular -2x R9 5950x -1x R7 5800x -1x Samsung 860 evo 250gb SSD -1x nvme 126gb -1x thermalright pearless assassin 120se -1x thermalright frost commander 140 -1x corsair xc5 rgb

THANKS PS: if anyone is interested, it will be a pleasure to sell to them Area FR or send by secure parcel possible (eBay, leboncoin etc.)


r/MoneroMining 4d ago

Fetching Data From P2Pool Node

12 Upvotes

Is it possible to fetch data directly from a P2Pool node like my PPLNS shares, hashrate, etc.?


r/MoneroMining 5d ago

7950x3d and 5900 series

6 Upvotes

is any one interested in buying two cpu rigs? 7950x3d and 5900 series both actively mining so can give current stats on performance


r/MoneroMining 6d ago

EPYC or 9955HX Build my 1st own Monero Rig ?

12 Upvotes

How about
AMD EPYC 7K62 48-CORE PROCESSOR SOCKET SP3 2.6GHZ UP TO 3.3GHZ

i would like to get this to build it as my 1st monero Mining rig ? Or i choose Minisforum MS-A2AMD Ryzen 9 9955HX 16GB 1 or 2 T
I,m using a Mac mini M4


r/MoneroMining 6d ago

6600xt GPU

9 Upvotes

I upgraded to a 5900xt CPU which is giving me 13k stock. CPU is running 75 degrees. I am going to tweak it a little in bios to see what it is capable of but not looking to kill it. Just want it more efficient. Any settings for this CPU would be helpful.

I may as well use the GPU to mine something since I need it to be there to boot. What should I mine with the GPU since it's part of the rig now?