I changed mining pools for Monero

in STEMGeeks5 months ago

I have been using minexmr.com for the last month since I started mining XMR with my CPUs. I have around 25 KH/s with my 5 rigs makes a total of that amount. But I still want to mine responsibly, and since the mentioned pool was closing in on 50% of the hashrate. I felt like it was my duty to change pools. If the hashrate was to stay at over 50% for a single pool, technically a 51% attack could occur, greatly jeopardizing the coins security and trust. So when this starts to happen, people move pools.

Looking at how the hash rate is distributed I felt like I needed to move, even with my small amount of hash power I thought it would be a good idea to try a smaller pool

Hah Monerod is not even on the map its so small, curious how this will play out.

Minexmr.com is the largest pool, by far.. Currently sitting at 34% of the overall XMR hashrate. It was higher just a week or so again, and people on discussion boards were urging people to move pools. This is not the first time this has happened with proof of work mining pools. Bitcoin has been close to 50% for a single pool, and just like now with Monero people were making the call for people to move pool. Which they did and spaced out the mining distribution across more pools.

So I have moved pools for Monero, now I am mining on the monerod.org pool. Its much smaller, with only around 15 MH/s for the entire pool compared to 973 MH/s for minexmr.com

I am going to keep an eye on my rewards, its possible mining on such a small pool I may have bad luck in finding blocks. But I will let it run for a week or two and then see how my rewards are. Normally I make anywhere from 0.0048 0.0109 XMR a week previously to the pool move. So I will see soon how this all plays out.

Here are my current CPUs I am mining with:

Intel i9 9900k 8-core (5.75 KH/s)
AMD Ryzen 5 1400 4-core (2.26 KH/s)
AMD Ryzen 5 1400 4-core (2.27 KH/s)
AMD Ryzen 7 1700 8-core (5.17 KH/s)
AMD Ryzen 7 5800X 8-core (9.13 KH/s)

Total hashrate: 24.58 KH/s

Below is a link to the pool I am on now:

https://monerod.org/pool.html

For more info on my plans for mining the rest of 2021 and into 2022 check out my post below:

https://stemgeeks.net/hive-163521/@solominer/solo-s-proof-of-work-mining-plans-for-2021-and-into-2022

But the short of it is, I plan on mining XMR with CPUs into 2022. Waiting for the final difficulty adjustment to take place and then I will decide to move my hashing power to another CPU coin. Though there are not many at this time (December 2021) to mine with using a CPU. Yes there are coins to mine with a CPU but they have little to no volume and very little exchange support. So for now I will mine XMR, even if I do not really like the coins fundamentals.

Posted with STEMGeeks

Sort:  

Those Ryzen 7s are impressive compared to an i9. I've always loved Monero but the exchanges seem to be getting jittery and dropping it like hot cakes!

Will be interesting to see what happens next year.

Have a great Christmas :-)

Yeah I was surprised by the hashrate as well, seems the AMD chips can really keep up with the Intels.

Monero was a good privacy coin when they first came out, but since then many have built much more secure networks. I just mine Monero because its the only coin worth it to mine with a CPU.

Thanks man hope you did too.

I am soo dum dum to understand all this mining tech talk but happy to see our meme from gujrawala Pakistan go international.

!PIZZA

Haha well the basic explanation would be: Too much hashing power on one pool, so I moved to a smaller pool.

that's awesome man, haha.. its a funny meme.

Hey, you might want to try p2pool. It's a peer-to-peer decentralized mining pool that runs as a side-chain to Monero. I was reading about it last week and I have yet to try it, but I thought I'd let you know about it since you're mining XMR and might be interested in it.

https://www.getmonero.org/2021/10/05/p2pool-released.html

Ah yes, I looked at p2pool as it had a good hashrate and low fees. Though I looked at how you need to setup a p2pool miner and it is more intensive than other pools. Though it looks interesting and I may give it a try when I have more time to tinker..

thanks for the tip.

cool man, makes me wanna buy more monero

soon they will develop anonymous hive chains with all monero as the base currency using swap.XMR or something with hive engine and some telos and eos smart contracts

@ackza , the most wonderfully barking mad, lunatic on the whole web! Hope you're well and having a great Christmas :-)

lunatic? any lunar refrence is a good thing now

hey yeah maybe i really did get elons attention by stealing his gif but i dont think she likes me anymore untill i make cool art that she and her hivemind can respect

its why i need more artists on hive beyond @web-gnar to make me a crazy animated story of my perspective of grimes and the whole @projectcamelot alien disclosure time travel stuff

i could make the ultimate sci fi comic book about us that converges with real TIC TAC ufo san diego ET disclosure

Haha go ahead, though I am not.. Just mining it.

Nice, I am sure Hive has many cool projects coming soon.

Yeah. I have not looked into mining rigs yet. Do you happen to have an article talking about cost/roi of a mining rig?
!PIZZA

Depends on if you want to use GPU/CPU or ASICS. https://whattomine.com/ is a good place to start if you know your electricity cost and the hashrate of your mining rig.

If you have some GPUs I would start with that, buying an ASIC can be a risky investment.

I am using prohashing. What are your thoughts on this. Doge/SHIB/Litecoin/XMRMonero

Screenshot_20211225-110232_Brave_-_Nightly_1.png

Love the Ryzen7 affordable and bulletproof.

Oh interesting, I did not know what it was until I looked it up. Looks like its a multi-coin mining pool. Reminds me of https://moneroocean.stream/

The fees are pretty high, in the 4 percent range. I pay 1% so seems like alot. But I guess they make it really easy to mine. Stick with it if you want to keep it simple, but you can find better pools with lower fees out there.

Doge and Shib are purely meme coins at the moment. I sold all my Doge during the first big pump. I stay away from Shib.

Litecoin is a great coin for making transfers between exchanges, low fees and very safe to use. LTC is an oldie but goodie.

Monero is an old privacy coin, but it has alot of network effect. I have read some articles questioning its security. So I only mine it and sell my profits. My favorite privacy coin is Horizen (ZEN).

Great insight. I will √ into ZEN. Yes the Meme Alts are good for a short term pump.

I mined Tube a year or so back before it went to the cuckaroo algo. Great platform BitTube. It just has never gotten any support. I have 13,000 plus in a sell order should they ever see a bump.

Your content has been voted as a part of Encouragement program. Keep up the good work!

Use Ecency daily to boost your growth on platform!

Support Ecency
Vote for new Proposal
Delegate HP and earn more

@tipu curate

 5 months ago Reveal Comment

PIZZA! PIZZA!

PIZZA Holders sent $PIZZA tips in this post's comments:
@infinitytcg(5/12) tipped @solominer (x1)
dlmmqb tipped solominer (x1)

Please vote for pizza.witness!