Fremin the miner's life

Mining Crypto-coins as diversification investment in Japan

Comments on previous entry:[Hot topic] Mining Monacoin (Lyra2REv2) by GTX1080 / GTX1060 GPU

   

Here's English-translated comments in previous article:

[Hot topic] Mining Monacoin (Lyra2REv2) by GTX1080 / GTX1060 GPU
http://mining.fantastone.jp/alternative_coin/lyra2rev2/mining_gtx1080_gtx1060/

Communication between Nasubi-san and I is as follows:


from Nasubi-san:

Thank you for your interesting article.
How much MONAs are you mining per day on current hash rate (52MH/s?)

from me:

Thank you for your comment.
As of current (Oct.17th) difficulty, roughly 56MH/s is equivalent to 1 MONA per day.
That means using 3 of Geforce GTX 1060 3GB under 50% TDP can get about one coin per day.
You can see the hashrate - MONA/day relationship by "Contributor Hashrates" on each mining statictics. In case of onsui-pool, here.

from Nasubi-san:

Thank you for your response.
I understood the relationship between hashrate and quantity of the coin.
Are you saying the electrical power cost accounts for more than a half of total rewards?
And then the difficuty has been increasing.

Once I read an article that ASIC cannot mine MONA coin.
If it's true, How the major miners mine such the crypto-coin?
I can only imagine the miner would be in a room filled in lots of GPUs, in a country where the electric bill is cheap.

from me:

> Are you saying the electrical power cost accounts for more than a half of total rewards?

No. Although the difficulty has been increasing as you say, but the "profit" is still more then "Cost".
However the profitability remains in an unstable situation.
Here is reference for you on the website "WHAT TO MINE".
This condition shows my mining rig, using 3 of GTX 1060 3GB.

> Once I read an article that ASIC cannot mine MONA coin.
> If it's true, How the major miners mine such the crypto-coin?
> I can only imagine the miner would be in a room filled in lots of GPUs, in a country where the electric bill is cheap.

That would be exactly as you say.
In case of crypto-coin that is difficult to be mined by ASIC, major cloud mining companies seem to lease a building like a factory, bring massive quantity of GPUs and mine such the coin.

from Nasubi-san:

I appreciate for your kind response.
I've been interested in mining crypto-coins and started situation.
I could find a lot of information of what I want on your website.
And thank you for the link of "WHAT TO MINE"!
It's very helpful for me to make mining rig with moderate budget.
Since I'm bored of only watching trading chart of cryptocurrencies, I want to get involved in mining the coin.
And finally your website's information made up my mind to mine crypto-coins

Now I'm your follower on twitter, thank you.

from me:

Thank you so much of following my twitter.
I will write articles helpful for miners at my own pace, keep in touch 🙂

 - Comment