Fremin the miner's life

Mining Crypto-coins as diversification investment in Japan

[Hot topic] Mining Monacoin (Lyra2REv2) by GTX1080 / GTX1060 GPU

      2017/10/26

One of alternative crypto-coins, Monacoin (Lyra2REv2 algorithm), its price has been rising sharply for the last couple of days.
So I decided to switch the mining altcoin from Zcash to Monacoin, using Geforce GTX 1080 / 1060 since yesterday.

As one day passed and confirmed stable mining operation, so I summarized items as follows.

Keep in mind that this article is mainly for anyone who live in Japan. So you can flexibly make your policy regarding TDP of GPU, mining pool, and so on.

Item Description Comment Link
Recommended GPU 1 GEFORCE GTX 1080 / GIGABYTE GV-N1080G1 GAMING-8GD

As of 2017, Geforce GTX 1080 is the best GPU for mining Lyra2REv2 algorithm coin.
The hash rate is around 49MH/s under TDP 100% (180W) condition and 38MH/s on TDP 50% (90W), which shows excellent performance per wattage among the GeForce 10 series.
I have used GIGABYTE manufactured GTX 1080 since last September and confirmed good stability for mining. It's my recommendation.
Recommended GPU 2 GEFORCE GTX 1060 3GB / GIGABYTE GV-N1060IXOC-3GD * 3 Multiple GPUs of Geforce GTX 1060 3GB can be good choice as well to obtain sufficient hash power.
The hash rate is around 22MH/s under TDP 100% (120W) condition and 17.5MH/s on TDP 50% (60W), which is relatively less performance per wattage than the GTX 1080.
However the advantage is price and low energy consumption. It will be easy to increase the hash rate whenever you want, because it's the cheapest GPU of good-hash-rate Geforce 10 series and you can easily adjust TDP of the GPU based on power supply unit of your mining rig.
Mining software ccminer v2.2-mod-r2 It's the special ccminer optimized by Nanashi Meiyo Meijin (名無し名誉名人), increasing Lyra2REv2 algorithm hash rate expected and you can make solo mining of the Monacoin by this special ccminer. GitHub : Nanashi-Meiyo-Meijin / ccminer
OS Ubuntu 16.04 LTS / Windows 10 Home edition 64 bit You can choose both Ubuntu(Linux) and Windows 10, whichever you want.
In case of windows 10, you download the binary file from the above GitHub link, choose mining pool, create wallet address and then you can start mining the Monacoin immediately.
Ubuntu is free-of-use OS but you need to compile the ccminer v2.2-mod-r2 from the source code.
Before compiling, you need to prepare and install lots of software like CUDA Toolkit and libraries, so it will take time. Maybe a couple of hours.
Cryptocurrency exchange BitFlyer (recommended) / Zaif (alternative) As far as I know, as of 2017 October, there are two big Monacoin exchanges in Japan: BitFlyer and Zaif.
The former BitFlyer is my recommendation because of its trading volume and stable servers for the market.
The latter Zaif is an alternative choice. The advantage is cheap transaction fee, it's "-0.01%".
(*) Transaction fee Changed from Nov. 1st, 2017: 0% for maker and 0.1% for taker. Official release is here (in Japanese).
If you want to buy Monacoin directly in the market, creating account of Zaif is recommended.
bitFlyer as No.1 trade volume of bitcoin in Japan/
Wallet software Monacoin Core (Qt) 64bit (Windows / Linux) This is the official Monacoin project software. Both English and Japanese are available.
At first the mining pool payout will be received by your account of exchange company, then second you will send the Monacoin to your wallet software.
You will choose 64bit edition, because every OS for mining crypto-coin is 64bit.
Monacoin Project official page
Mining pool Your Favorite Mining Pool / Onsui pool (example) I choose mining pool from this article (in Japanese only) issued by Netank. Thanks a lot!
The payout system and pool fee is different for each one.
I chose "Onsui pool" (温水プール, which means "a warm pool")
The reward by the Onsui pool is a PROP system with 0% fee. And you can donate some rate from your reward instead of fee.
(minimum 0.01%)
温水プール



Sponsored Link

Examples / etc.

Windows 10


Here's a screenshot of my "Mining PC", using one Geforce GTX 1080, with TDP 50%.
As you can see not-so-bad hash rate with squeezing half a TDP.
In Japan, you need to put a highest priority on power efficiency since the electric bill is extremely high. (roughly 0.25 USD/kWh)

Ubuntu 16.04 LTS


This is an another screenshot of my "Mining rig", using four Geforce GTX 1060 3GB, with TDP 50%.
3 of 4 GTX 1060 for Lyra2REv2, and the rest for Equihash.
As of now all of the 4 GPU has been switched to mine the Monacoin.
If you set the GTX 1060 3GB with TDP 100%, you will find about 66~67 MH/s by 3 cards, 88~89 MH/s by 4.

Transaction delaying expected

If you receive the payout reward from mining pool by BitFlyer account, in some case the timing of receiving would be much delayed, according to security check by the exchange.

Deposits of Monacoin from external sources will all undergo a security check. Please understand that this can take from a minimum of one hour to a maximum of one business day in some cases.

Especially in case of payout on weekend, sometimes you need to endure the deposit from the mining pool.

 - Lyra2REv2