What is Monero
Monero is a cryptocurrency with an emphasis on private transactions.
The secret is to use cryptography to hide the sender and recipient addresses. The transfer amount is also hidden. These actions are carried out by default, so privacy here is permanent and not selective. An example of the latter is Zcash. Let us remind you that this cryptocurrency has both public and private addresses.
Source: 2Bitcoin
More than 420 developers contributed to the project. Monero forums are online, chats are live.
Monero fork Cryptonight R
This episode features POW cryptonight R Monero.
Xmr-stak supports all CUDA devices from the last 8 years (Fermi, Kepler, Maxwell, Pascal, Volta, Turing).
You can now use with AMD Rocm 1.9.X driver.
Configuration files from 2.4.X are NOT compatible with this version.
XMR Stak is quite well optimized and is known to generate significantly more hashrate than any other program.
supports many devices (CPU/x86, AMD-GPU and NVIDIA-GPU)
Supports all common operating systems (Linux, Windows and macOS)
supports cryptonight algorithm for Monero (XMR) and cryptonight-light (AEON)
the program is easy to use
- (no need to edit the configuration file for the first run)
- automatic configuration for each device
open source software (GPLv3)
Supports TLS protocol
Displays statistics in the browser via HTML
has a JSON API for monitoring the operation of your farm
What are they working on?
Team representatives are actively promoting and financing the Kovri project. The latter hides users' traffic and allows them to remain anonymous within the Kovri Network. In other words, Monero representatives support not only the anonymity of transactions, but also anonymity on the Internet.
Source: monero.cc
Future challenges include solutions for speed and scalability.
Monero (XMR) Performance
The coin ranks 13th in the world ranking of cryptocurrencies. Today they fetch $53 for it, the market capitalization is slightly short of 894 million.
Source: CoinMarketCap
The daily trading volume is $20.18 million. At the same time, there are 16.66 million XMR in circulation. Monero has been around since spring 2014.
The rate chart resembles Bitcoin indicators. The maximum price of XMR was recorded on January 9, 2020. At that time, the coin was offered at $542. Sweet times.
Source: CoinGecko
How to find out hashrate
You can find out your hashrate by entering your wallet address in the pool, but how can you check the results in the miner itself?
By default, the program's console window does not display hashrate or data mining results. To check your hashrate you have 2 options:
- Command line option
- HTML reports
Command Line Option: Simply press H on the command line to display power.
Press R to display sharing results. Everything is simple and clear.
If you want clean looking reports, then display your hashrate using the HTML reporting option.
HTML report: remember, when we first started we entered any number. This number is needed for HTML reports. If you forgot what you entered, then go to the config.txt file and find this line.
To check hashrate, results and connection reports, enter the following in the address bar of your browser.
Where 127.0.0.1 is your local IP (it is the same for everyone) and 9999 is the port that we configured initially. You will receive a neatly displayed hashrate.
How to stop mining
Xmr stak is a pooled miner and by default it uses both the CPU and GPUs of the farm. If the specifications of your CPU are too low or if you do not want to use your processor for mining, then you need to exclude them from the program.
In the xmr stak folder you will find the cpu.txt file. Open the txt file and scroll down where you will find the following lines:
To prevent CPU mining, set cpu_threads_conf to NULL (equal to zero).
This will exclude the processor from mining.
Adding lists of pools or new coins to the miner
The easiest way is to simply create a new batch file with the required coin, while the basic configuration will remain the same.
The information you entered when setting up the program will be stored in separate text files. Whenever you launch the miner, it will connect to the pool and start mining the coin that you configured.
Where to buy Monero XMR
More than 95 percent of XMR transactions take place on Bithumb. You can also buy a coin on Binance, Bitfinex, Poloniex, Kraken, HitBTC, CoinBene and other platforms.
Source: CoinMarketCap
It is important to remember that exchange trading volumes do not always correspond to reality. By the way, Bithumb denies all accusations against it.
Setting via configuration file
Run xmr-stak.exe and the first thing you will notice. It will ask: "Do you want to use the HTTP interface?" Simply enter 9999 or any number and press Enter to create a config.txt file. We'll explain how to use config.txt later.
This launch will create a configuration file. The program will then ask you to Select the currency you want to mine. Simply enter the name of the currency and press Enter. If the currency is not specified, simply enter the algorithm it uses. In this example we will use Monero.
list of xmr-stak algorithms
After this, the program will ask for the pool address for the currency you selected. For example xmr-eu.dwarfpool.com:8050
Choosing a reliable pool for your currency is the most important step. You can select a reliable pool in the appropriate section.
find the address and port on the Dwarfpool pool
By going to the pool page, you will find connection information. Select the correct address based on your location. We will choose a European address because... it is closer to our location. Accordingly, ping to the pool servers will be faster, which means new jobs will arrive and be sent faster.
Mining Monero
Mining Monero is different from Ethereum, Bitcoin or Bitcoin Gold. The mining algorithm here is RandomX. Finding a block rewards you with 2.12 XMR, and it takes approximately 2 minutes to solve.
Source: CoinWarz
The network hashrate is at the level of 341 Mh/s. On October 14, the figure was 659 Mh/s, so the drop due to the current subsidence of coin rates is significant.
How to mine Monero
The main feature of Monero is support for processors (CPU) - just like in the good old days. You can also dig on video cards. It is advisable that AMD products work, since the efficiency of Nvidia cards is noticeably lower.
Source: 2Miners
For mining on video cards and processors we use xmr-stak. Download the finished version of the miner in the archive via the link, password - 2miners.
Please note: Monero was hard forked on November 30, 2020. The developers switched the cryptocurrency to the RandomX mining algorithm. After the fork, you need to download the XMR-Stak-RX miner version 1.0.1 in the same archive (password - 2miners) and edit the pools.txt file. The correct settings file looks like this.
"pool_list" : [ {"pool_address" : "xmr.2miners.com:2222", "wallet_address" : "463tWEBn5XZJSxLU6uLQnQ2iY9xuNcDbjLSjkn3XAXHCbLrTTErJrBWYgHJQyrCwkNgYvyV3z8zctJLPCZy24jvb3Ni TcTJ.08c7679c1edf4fb6b41a7abf916a64827e760cc1c0d242d396c6bb16cea37f08", "rig_id" : "RIG_ID", "pool_password" : "x", "use_nicehash" : false, "use_tls" : false, "tls_fingerprint" : "", "pool_weight" : 1 }, ],
Change “wallet_address” to your wallet address.
For example, 463tWEBn5XZJSxLU6uLQnQ2iY9xuNcDbjLSjkn3XAXHCbLrTTErJrBWYgHJQyrCwkNgYvyV3z8zctJLPCZy24jvb3NiTcTJ.
After editing the file, launch the miner and agree to the proposal to carry out a quick setup. To do this, press “Y”.
XMR-Stak-RX miner interface. Source: miner
The miner will independently analyze the resources for mining (video card or processor) and automatically create a configuration file.
XMR-Stak-RX miner interface. Source: miner
The key difference between Monero and Ethereum or Zcash is lower electricity consumption and, as a result, less heating of cards.
Amd xmr stak amd win64 setup
Xmr stak setting up a config file for amd causes difficulties for many, in fact there is nothing complicated. Let's break it down a little. Download, open the config.txt file and see.
If you download the miner from this article, it is already configured for nanopool, and for 4 video cards.
“gpu_thread_num”: 4, - where the number is 4, here you need to write the number of video cards installed in your system.
“gpu_threads_conf” - and below there are lines indicating how many video cards there should be, so many lines should be, video cards start counting from 0. In our case, 4 video cards, i.e. it turns out:
Now you can leave everything up to “pool_address” untouched, but after that we write the address of our pool where we mine the coin.
“wallet_address” - and then the wallet where Monero will be mined.
“pool_password” - and a password, in most cases it is not needed. We put x.
Then you don’t have to touch anything. And that’s it, run xmr-stak-amd.exe.
I hope you understand how to set it up for Monero mining. If something is unclear, I advise you to read the full article - Mining monero.
And ask questions in the comments. Thank you all for your attention. Bye.
source
Profitability of mining Monero
The WhatToMine service will traditionally tell you the prospects for coin mining. For example, select eight Radeon RX 570 cards and click on the desired algorithm.
Source: WhatToMine
With a kilowatt price of 5 cents or about 3.4 rubles, we get a little more than a dollar of net profit per day. The income is $2.22, the difference goes to the cost of electricity.
Source: WhatToMine
Radeon RX 580, Vega, Nvidia GTX 1060 and GTX 1070 are also suitable for Monero. By the way, there will be no problems with XMR mining on a GTX 1060 with 3 GB. We remind you that users of this model are already complaining about the impossibility of mining Ethereum and Ethereum Classic.
conclusions
As a result, we have a coin with several interesting features. First of all, this is increased anonymity and concern for user privacy. The possibility of mining on a processor is also surprising, because to mine cryptocurrencies you usually need video cards or special ASIC devices. Finally, the icing on the cake is the low electricity consumption, which will please those with an expensive outlet.
The coin has been around for a long time and will probably live for a long time. It's definitely worth taking a closer look at, if you haven't already. And the low electricity consumption will please the owners of an expensive outlet.
Subscribe to our channel on Telegram. We even track Monero.
Xmr stak setup
We have 2 ways, either configure xmr stak config and run xmr-stak.exe or create a batch file in xmr stak, it has already been created and configured for the nanopool if you downloaded from us.
Setting up a config txt file or via xmr stak exe is more difficult.
After downloading and unpacking the miner, we need to edit the start.bat file by right-clicking on it and changing it.
You'll see something like this:
-O and then the address of the pool where you will mine, in our case
-u and then the address of the xmr wallet, worker and email, but there is one thing, but
-u ADDRESS.PAYMENT-ID.WORKER/EMAIL - if you mine on an exchange where there is a PAYMENT-ID
-u ADDRESS.WORKER/EMAIL - if you are mining on a local wallet or on the exmo exchange
Leave the rest as is and save.
Xmr stak how to launch
Then run the start.bat file and mining begins. You will create 2 files, configs for the video card and processor, and a general config.
If you want to disable cpu or gpu separately in xmr-stak:
If it’s a processor, then you need to go to the cpu.txt file and leave only the “cpu_threads_conf” entry there: NULL,
if a video card, then you need to go to the nvidia.txt or amd.txt file and leave “ gpu_threads_conf”: NULL there,
More detailed monero setup in the articles:
Thank you all, if you have any questions, write in the comments.
source
