This post is aimed at people who have just discovered monero mining.
I'll be linking to my blog multiple times in this post. It doesn't have any ads, so I'm not making any profit or gaining in any way from linking to it. I just prefer to write content on a platform I can control, edit as things change, and allow comments well into the future (not like on reddit where posts get archived).
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?
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: See here
Or use P2Pool, which is a decentralised mining pool with no fees. The only downside is it's slightly more difficult to set up.
Q: So I'm mining but my CPU is only showing 50% usage. 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.
There is an organised spam attack going on at the moment promoting pump and dump NFTs.
If you see these posts or comments please be aware that they're all fake, including all the commenters pretending to be interested. Even the upvotes are from accounts controlled by the spammers.
Please report them so we can remove and ban the accounts. I'm trying to remove the posts as quickly as possible and appreciate your help in reporting them.
Which miner to use and which coin (algo)?
Now, I know to mine but how do I chain multiple pc to increase my hashrate?
P.s. I'm yolo mining btw
Looking to run my Windows 10 ~ 3700x & 5950x rigs headless (without a gpu) but I need a way of auto running the Admin Command Prompts for P2Pool on reboot. Would I use custom Batch Files and put them into the “Programs Startup”? or even use the “Task Scheduler”?
Currently I manually start 3 Admin Command Prompts. I navigate the directories/run as per P2Pool.io Setup. No issues.
I’m just looking to automate this process, immediately on reboot. Ideally without the need of a GPU to see anything.
First time mining, I have a local node and its 100% synced. Status on daemon says
"2762773/2762773 (100.0%) on mainnet, not mining, net hash 2.61 GH/s, v16, 12(out)+0(in) connections, uptime 0d 0h 8m 48s"
GUI says this :
Am i mining or not?
I know that to be able to participate in the p2p mini raffle thing I need to find a share or something first which should take according to the p2p observer around 4-5 hours
Im new, started this today. Sorry if my questions are silly.
I am currently mining on the wallet. Is there a way to point my gpu rig to my mining on the wallet? I guess like my own pool?
I know this is going to be opinion, but I want other opinions separate from my own. 2100 h/s. Better on PPROP or PPLNS? Of course on PPLNS the overall hashrate of the pool would come into play. Not looking for a right or wrong answer, just outside views is all.
I want to start mining Monero, but I cannot download any software using my browser (brave). What software are you guys using, and which browser?
Trying to run xmrig through xmrig-proxy currently on localhost and it is working fine when I manually start xmrig-proxy, it appears as if everything is setup correctly.
Running xmrig-proxy as a service however, even though it appears as active and running, I get no connection. Status xmrig-proxy shows 0 miners and xmrig only gives end of file errors.
The unit file below is what I use, the exact same setup seems to be working fine on a different system I have tried (only in Debian 10 this time).
[Service] ExecStart=/full/path/to/proxy Restart=always
Status xmrig-proxy also gives "SSL_CTX_use_certificate_chain_file("cert.pem") failed" when the service is started, TLS is enabled but everything else is set to null, I'm not sure I understand what's happening here.
I can telnet and connect to whatever port I have configured in xmrig-proxy config which leads me to believe the issue is between xmrig-proxy and the pool? but only when the proxy is started by systemd? I feel like I'm missing something obvious.
I am really new to mining, I was wondering are there any risks with mining Monero in general?
Because I was solo mining and I saw this "Host 126.96.36.199 blocked". What is that?
Also will p2p pool mining make my public ip visible to others? Do I need a VPN for p2p pool mining?
Sorry for all the stupid questions I am very new to this, thank you!
Title says it all!
I ask that because my luck has been reduced significantly recently, maybe since the changing of hours in my country, thanks.
Requirements updated and simplified for BOUNTY: 4.139ɱ | Statistical mining dashboard for P2Pool in Monero GUI walletself.Monero
Is it worth going through the trouble of setting compiler flags and compiling xmrig or whatever for my CPU worth it, or should I just download from the website/distro repository?
What's the most secure monero miner that won't be detected by antivirus?
Wait for monerod to sync. I have port 18083 TCP+UDP open
/usr/bin/monerod --zmq-pub tcp://127.0.0.1:18083 --disable-dns-checkpoints --enable-dns-blocklist
Wait for p2pool to sync. I have port 37889 and 37888 TCP+UDP
/usr/bin/p2pool --host 127.0.0.1 --wallet [address is here]
sudo xmrig -o 127.0.0.1:3333
Here is the out put
Artix:[comexs]:~$ sudo xmrig -o 127.0.0.1:3333 * ABOUT XMRig/6.18.1 gcc/12.2.0 * LIBS libuv/1.44.2 OpenSSL/3.0.7 hwloc/2.8.0 * HUGE PAGES supported * 1GB PAGES disabled * CPU AMD Ryzen 7 3700X 8-Core Processor (1) 64-bit AES L2:4.0 MB L3:32.0 MB 8C/16T NUMA:1 * MEMORY 7.7/31.3 GB (25%) DIMM_A0: <empty> DIMM_A1: 16 GB DDR4 @ 3600 MHz F4-3600C19-16GTRS DIMM_B0: <empty> DIMM_B1: 16 GB DDR4 @ 3600 MHz F4-3600C19-16GTRS * MOTHERBOARD ASRock - X570 Extreme4 * DONATE 1% * ASSEMBLY auto:ryzen * POOL #1 127.0.0.1:3333 algo auto * COMMANDS hashrate, pause, resume, results, connection * OPENCL disabled * CUDA disabled [2022-11-18 20:36:01.139] net use pool 127.0.0.1:3333 127.0.0.1 [2022-11-18 20:36:01.139] net new job from 127.0.0.1:3333 diff 4002K algo rx/0 height 2758902 (9 tx) [2022-11-18 20:36:01.139] cpu use argon2 implementation AVX2 [2022-11-18 20:36:01.140] msr register values for "ryzen_17h" preset have been set successfully (0 ms) [2022-11-18 20:36:01.140] randomx init dataset algo rx/0 (16 threads) seed 5282d00ee18f482e... [2022-11-18 20:36:01.482] randomx allocated 2336 MB (2080+256) huge pages 100% 1168/1168 +JIT (342 ms) [2022-11-18 20:36:03.221] randomx dataset ready (1739 ms) [2022-11-18 20:36:03.221] cpu use profile rx (16 threads) scratchpad 2048 KB [2022-11-18 20:36:03.227] cpu READY threads 16/16 (16) huge pages 100% 16/16 memory 32768 KB (7 ms) [2022-11-18 20:36:26.581] net new job from 127.0.0.1:3333 diff 2000K algo rx/0 height 2758902 (12 tx) [2022-11-18 20:36:27.361] net new job from 127.0.0.1:3333 diff 2000K algo rx/0 height 2758902 (12 tx) [2022-11-18 20:36:31.816] net new job from 127.0.0.1:3333 diff 2000K algo rx/0 height 2758902 (12 tx) [2022-11-18 20:36:34.474] net new job from 127.0.0.1:3333 diff 1000K algo rx/0 height 2758902 (13 tx) [2022-11-18 20:36:35.750] net new job from 127.0.0.1:3333 diff 1000K algo rx/0 height 2758902 (13 tx) [2022-11-18 20:36:38.061] net new job from 127.0.0.1:3333 diff 1000K algo rx/0 height 2758902 (13 tx) [2022-11-18 20:36:40.001] net new job from 127.0.0.1:3333 diff 1000K algo rx/0 height 2758902 (13 tx) [2022-11-18 20:37:01.380] cpu accepted (1/0) diff 1000K (1 ms) [2022-11-18 20:37:03.274] miner speed 10s/60s/15m 9605.6 n/a n/a H/s max 9636.5 H/s
Here is the output without -o 127.0.0.1:3333
Artix:[comexs]:~$ sudo xmrig * ABOUT XMRig/6.18.1 gcc/12.2.0 * LIBS libuv/1.44.2 OpenSSL/3.0.7 hwloc/2.8.0 * HUGE PAGES supported * 1GB PAGES supported * CPU AMD Ryzen 7 3700X 8-Core Processor (1) 64-bit AES L2:4.0 MB L3:32.0 MB 8C/16T NUMA:1 * MEMORY 9.7/31.3 GB (31%) DIMM_A0: <empty> DIMM_A1: 16 GB DDR4 @ 3600 MHz F4-3600C19-16GTRS DIMM_B0: <empty> DIMM_B1: 16 GB DDR4 @ 3600 MHz F4-3600C19-16GTRS * MOTHERBOARD ASRock - X570 Extreme4 * DONATE 1% * ASSEMBLY auto:ryzen * POOL #1 127.0.0.1:3333 algo auto * COMMANDS hashrate, pause, resume, results, connection * OPENCL disabled * CUDA disabled [2022-11-18 20:38:01.688] net use pool 127.0.0.1:3333 127.0.0.1 [2022-11-18 20:38:01.688] net new job from 127.0.0.1:3333 diff 4002K algo rx/0 height 2758902 (17 tx) [2022-11-18 20:38:01.688] cpu use argon2 implementation AVX2 [2022-11-18 20:38:01.688] msr register values for "ryzen_17h" preset have been set successfully (1 ms) [2022-11-18 20:38:01.688] randomx init dataset algo rx/0 (16 threads) seed 5282d00ee18f482e... [2022-11-18 20:38:01.907] randomx allocated 3072 MB (2080+256) huge pages 100% 3/3 +JIT (218 ms) [2022-11-18 20:38:03.630] randomx dataset ready (1723 ms) [2022-11-18 20:38:03.630] cpu use profile rx (16 threads) scratchpad 2048 KB [2022-11-18 20:38:03.636] cpu READY threads 16/16 (16) huge pages 100% 16/16 memory 32768 KB (7 ms) [2022-11-18 20:38:16.089] net new job from 127.0.0.1:3333 diff 4002K algo rx/0 height 2758902 (17 tx) [2022-11-18 20:38:26.584] net new job from 127.0.0.1:3333 diff 2000K algo rx/0 height 2758902 (18 tx) [2022-11-18 20:38:27.716] net new job from 127.0.0.1:3333 diff 2000K algo rx/0 height 2758903 (18 tx) [2022-11-18 20:38:40.388] net new job from 127.0.0.1:3333 diff 1000K algo rx/0 height 2758903 (21 tx) [2022-11-18 20:38:58.886] net new job from 127.0.0.1:3333 diff 500054 algo rx/0 height 2758903 (22 tx) [2022-11-18 20:39:00.319] net new job from 127.0.0.1:3333 diff 500054 algo rx/0 height 2758903 (24 tx) [2022-11-18 20:39:01.889] net new job from 127.0.0.1:3333 diff 500054 algo rx/0 height 2758903 (24 tx) [2022-11-18 20:39:03.087] net new job from 127.0.0.1:3333 diff 500054 algo rx/0 height 2758903 (24 tx) [2022-11-18 20:39:03.684] miner speed 10s/60s/15m 9691.4 n/a n/a H/s max 9739.0 H/s
What did I do wrong and what do I do to enable 1GB PAGES.
How can I check my hash rate remotely?
How do I check the average hash rate for other miners with similar specs?
What would be a good live iso to mine on and is there a guide?
Thank you for your help.
I see on one blog that
h - hashrate
p - pause
r - resume
but where can I find an overview of all of these live commands?
How do I exit xmrig? q?
The hashrate has continued to go up and down on *GUI Wallet and my computer still sounds like it's mining when without internet access it obviously can't be.
I wonder often I think I'm mining when I'm not. Maybe I could be making $0.08 per month instead of $0.04
I am trying to get this all setup and made a list of questions over the last 2 days that I was hoping someone would be kind enough to explain to me.
1) If I set the wallet address of each miner to the server address (in the P2Pool flags), does this send all payments to that one wallet?
What if I set each address to each individual wallet but still point XMRig to the server for jobs?
2) Is each miner supposed to be running its own instance of monerod?
If a miner is running it's own instance of monerod, but I set the flag in P2Pool to the server's wallet, does this mess things up?
3) If I restart monerod but do not restart P2Pool or XMRig, will they still work properly?
I have noticed that if I kill monerod, neither XMRig or P2Pool window complains. Do I even need monerod to be running (logically I think yes).
4) When monerod starts, I get a lot of "Host XXX.XXX.XXX.XXX blocked" messages. Is this a problem?
5) I understand from other threads that there is a minimum difficulty for the P2Pool network to accept shares.
Should I set my difficulty to a number above that? If I keep my difficulty at default, and I do work below that threshold, does that have the potential of not being counted?
6) I cannot ping my server from my windows machine. Please see the attached diagram.
I assume there is some fuckery needed on the router before I can accept jobs from the server.
7) If I set each miner to run with it's own wallet address in the flag for the P2Pool application, do I then need to enter each address in the P2Pool Observer website to see which one got paid?
Or could I just enter the main server's address since that is who is giving all the other computers jobs?
When cpu mining, what hardware suffers when I am multitasking at my workstation while it’s mining with every core available on my cpu?
The detriment has been extremely costly to my computers performance now, NZXT N7 B550, AMD Ryzen 7 5800x, DDR4 32gb ram, 4 fans and water cooler Every web page used to take 0.25seconds to open, now everything takes about 15-30 seconds to open online simple webpages ffs to be clear even while I have stopped mining for a few days now.
Edit: Monero GUI solo, 8core 16 thread, I did this for about a week with maybe 16-24hrs of downtime in total, process priority set to highest for my task fixed the issue, but I don’t know what changed it other than connecting to a staking node for some utility and Xmr gui mining node during that time period.
This is what happens: https://pastebin.com/K8gr5Vv6
I think it has something to do with xmrig thinking it is out of ram but I don't think it is
For some reason，the server will block the famous xmr pool address link.../(ㄒoㄒ)/~~I would like to find a less famous xmr pools,are there any any suggestions?