What is Monero?
Monero is an open source cryptocurrency focused towards being MORE private than Bitcoin.
Users of the are moving into Monero because of it's privacy.
It is based on the CryptoNote, which is a different type of protocol than Bitcoin.
All transactions are untraceable, and unable to be linked to the user. So nobody is able to look at the blockchain and track your transactions.
Users of the "darkweb" are finding this a better alternative to Bitcoin because of the privacy benefits.
Monero price is increasing quickly!
The currenty price of Monero is over $20 and it seems to still be on the rise!
Obviously Bitcoin is still the most widely accepted cryptocurrency for the moment, but I do think that Monero is definately a competitor for second or third!
Probably no need to explain how hashrate distribution is necessary for PoW blockchains.
Just take a look at pie-charts of Bitcoin and Ethereum networks, it's pretty clear that very unlikely things are gonna change in near future.
Thankfully according to these stats Monero network is more healthy. I believe it was a great idea to fund development of open source pool right after launch. So why not make hashrate distribution even more better now?
All boring installation instructions for OSX and Linux you can find in go-cryptonote-pool repository README.
After 10-15 minutes of installation and switching over your miners to your own private stratum you will eventually find something like this in your wallet:
Q: How do I know my stats? There is no web interface, even Monero GUI is finally on the way!
Self hosting web interface without external dependencies will be available soon ™ and will look like ethereum proxy.
There is also some cleanup required because it was my first golang project and already 1 year passed after I wrote it. Now I have way better experience and I am sure there is a place for improvements.
Make sure you save the string of words it gives you because this is basically your password. Once you have this you'll need to copy your XMR address.
Choose this one: xmr-stak-cpu-win64.zip
I also have an AMD FX-9590. This has 16mb of cache and 8 cores. You would think that I should be using 8 threads, but that isn't the case. If the amount of threads you should be using is equal to the number of cores you have subtract 1. We don't want to use every core. So I mine with 7 threads on this chip because 16mb/2mb=8 and we have 8 cores so we subtract 1 and are left with 7 threads.
Monero is an open source cryptocurrency focused towards being MORE private than Bitcoin.
Users of the are moving into Monero because of it's privacy.
It is based on the CryptoNote, which is a different type of protocol than Bitcoin.
All transactions are untraceable, and unable to be linked to the user. So nobody is able to look at the blockchain and track your transactions.
Users of the "darkweb" are finding this a better alternative to Bitcoin because of the privacy benefits.
Monero price is increasing quickly!
The currenty price of Monero is over $20 and it seems to still be on the rise!
Obviously Bitcoin is still the most widely accepted cryptocurrency for the moment, but I do think that Monero is definately a competitor for second or third!
Probably no need to explain how hashrate distribution is necessary for PoW blockchains.
Just take a look at pie-charts of Bitcoin and Ethereum networks, it's pretty clear that very unlikely things are gonna change in near future.
Thankfully according to these stats Monero network is more healthy. I believe it was a great idea to fund development of open source pool right after launch. So why not make hashrate distribution even more better now?
Q: Why solo mining is preferable over pool mining?Everyone gets exactly what they deserve. With a trade-off of variance hit indeed. It increases number of full nodes in network and protects network from attacks.
Q: What are the benefits? Why I should go full solo on Monero?If your hashrate is big enough and you can find a block once per 1-2 days you are good to go solo, pools will reduce your variance, but if you are stable miner and not going to hop to other coins every 10 minutes you are ok with it as long as you are long term. Monero price is pretty stable, it remains the most profitable CryptoNote CPU coin to mine and very unlikely you will loose even if your strategy is mine and dump. If mining is just a fun for you there is no reason for pool mining at all.
All boring installation instructions for OSX and Linux you can find in go-cryptonote-pool repository README.
After 10-15 minutes of installation and switching over your miners to your own private stratum you will eventually find something like this in your wallet:
Q: How do I know my stats? There is no web interface, even Monero GUI is finally on the way!
Self hosting web interface without external dependencies will be available soon ™ and will look like ethereum proxy.
There is also some cleanup required because it was my first golang project and already 1 year passed after I wrote it. Now I have way better experience and I am sure there is a place for improvements.
Another way to mine monero
Step 1: Get a Monero Wallet
MyMoneroMake sure you save the string of words it gives you because this is basically your password. Once you have this you'll need to copy your XMR address.
Step 2: Download and extract xmr-stak-cpu
xmr-stak-cpu download linkChoose this one: xmr-stak-cpu-win64.zip
Step 3: Decide how many threads you should use
To do this find out how much cache your CPU has and how many cores it has. So I have a CPU that has 4mb cache and 4 cores. In order to figure out how many threads you want to use you want to divide your cache by 2mb. So this CPU should use only 2 threads because 4mb/2mb=2.I also have an AMD FX-9590. This has 16mb of cache and 8 cores. You would think that I should be using 8 threads, but that isn't the case. If the amount of threads you should be using is equal to the number of cores you have subtract 1. We don't want to use every core. So I mine with 7 threads on this chip because 16mb/2mb=8 and we have 8 cores so we subtract 1 and are left with 7 threads.
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