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XMR mining app, built with Vue.js, D3 and CoinHive

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Re: XMR mining app, built with Vue.js, D3 and CoinHive

#11

Post by [deleted] »

lojack wrote: post #4
ralmidani wrote: post #3

Does the value of XMR mined exceed the electricity consumed by the app? There are already malicious websites using hidden windows to mine XMR, but to the benefit of the person in control of the site rather than the people who pay the electricity bills: https://arstechnica.com/information-technology/2017/11/sneak...

> Does the value of XMR mined exceed the electricity consumed by the app? Extremely unlikely. Even GPU mining with good hardware cuts it close with energy consumption depending on your energy costs.

[deleted]

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#12

Post by joshschreuder »

wyldfire wrote: post #5
ralmidani wrote: post #3

Does the value of XMR mined exceed the electricity consumed by the app? There are already malicious websites using hidden windows to mine XMR, but to the benefit of the person in control of the site rather than the people who pay the electricity bills: https://arstechnica.com/information-technology/2017/11/sneak...

In general, any PoW-cryptocoin quickly reaches an equilibrium with its costs. Changes in the difficulty, changes in the exchange rate (usually as a function of changing demand), changes in availability of current/next-generation mining hardware will destabilize this equilibrium temporarily. The answer to the question "should I mine [coin x]" in order to make money is usually "no". You should mine that coin because yo…

That's not necessarily true, assuming you believe the value of what you're mining will at some point in the future be worth more than it is now. I mined some Ethereum earlier in the year, and was making around $6 AUD a day.

I stopped as I was unhappy with the effects of proof of work on electricity supply and the wear on my GPU, but the amount I mined at current market price is worth around 3x that, making it quite a bit more profitable.

Of course, if you believe the value will increase at some future point you're most likely better off just buying the coin and hodling it :)

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#13

Post by IanCal »

joshschreuder wrote: post #12
wyldfire wrote: post #5

Earlier quoted context omitted.

In general, any PoW-cryptocoin quickly reaches an equilibrium with its costs. Changes in the difficulty, changes in the exchange rate (usually as a function of changing demand), changes in availability of current/next-generation mining hardware will destabilize this equilibrium temporarily. The answer to the question "should I mine [coin x]" in order to make money is usually "no". You should mine that coin because yo…

That's not necessarily true, assuming you believe the value of what you're mining will at some point in the future be worth more than it is now. I mined some Ethereum earlier in the year, and was making around $6 AUD a day. I stopped as I was unhappy with the effects of proof of work on electricity supply and the wear on my GPU, but the amount I mined at current market price is worth around 3x that, making it quite a…

> Of course, if you believe the value will increase at some future point you're most likely better off just buying the coin and hodling it :)

I think this is the key point. If it costs more in electricity than the current value it is cheaper and easier to just buy some.

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#14

Post by vitalus »

joshschreuder wrote: post #12
wyldfire wrote: post #5

Earlier quoted context omitted.

In general, any PoW-cryptocoin quickly reaches an equilibrium with its costs. Changes in the difficulty, changes in the exchange rate (usually as a function of changing demand), changes in availability of current/next-generation mining hardware will destabilize this equilibrium temporarily. The answer to the question "should I mine [coin x]" in order to make money is usually "no". You should mine that coin because yo…

That's not necessarily true, assuming you believe the value of what you're mining will at some point in the future be worth more than it is now. I mined some Ethereum earlier in the year, and was making around $6 AUD a day. I stopped as I was unhappy with the effects of proof of work on electricity supply and the wear on my GPU, but the amount I mined at current market price is worth around 3x that, making it quite a…

If the cost exceeds the value of what you're mining, you're always better off putting that money directly into purchasing the cryptocoin instead.

Option 1: Spend $10 to mine $5 worth of BTC

Option 2: Spend $10 to obtain $10 worth of BTC

If the market goes up, you are better served by the latter option.

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#16

Post by elmar »

vitalus wrote: post #14
joshschreuder wrote: post #12

Earlier quoted context omitted.

That's not necessarily true, assuming you believe the value of what you're mining will at some point in the future be worth more than it is now. I mined some Ethereum earlier in the year, and was making around $6 AUD a day. I stopped as I was unhappy with the effects of proof of work on electricity supply and the wear on my GPU, but the amount I mined at current market price is worth around 3x that, making it quite a…

If the cost exceeds the value of what you're mining, you're always better off putting that money directly into purchasing the cryptocoin instead. Option 1: Spend $10 to mine $5 worth of BTC Option 2: Spend $10 to obtain $10 worth of BTC If the market goes up, you are better served by the latter option.

If you care about privacy normally mining your own coins it's the best way to get 100% privacy.

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#18

Post by noahdesu »

This is really cool. I didn't know about CoinHive. It looks like it's a sort of profit sharing setup with CoinHive, who provides all the technical bits.

Another option is to build your own. I published one of the more unapproachable aspects, which is an Emscripten-compiled implementation of the Cryptonight hash function [0]. One could slap a basic WebSocket proxy on top of existing mining server, and the adding the coordination logic in Javascript in the client.

[0]: https://github.com/noahdesu/xmonarch

Re: XMR mining app, built with Vue.js, D3 and CoinHive

#19

Post by deevolution »

wyldfire wrote: post #5
ralmidani wrote: post #3

Does the value of XMR mined exceed the electricity consumed by the app? There are already malicious websites using hidden windows to mine XMR, but to the benefit of the person in control of the site rather than the people who pay the electricity bills: https://arstechnica.com/information-technology/2017/11/sneak...

In general, any PoW-cryptocoin quickly reaches an equilibrium with its costs. Changes in the difficulty, changes in the exchange rate (usually as a function of changing demand), changes in availability of current/next-generation mining hardware will destabilize this equilibrium temporarily. The answer to the question "should I mine [coin x]" in order to make money is usually "no". You should mine that coin because yo…

A healthy coin depends on a balanced ecosystem of miners and users. If mining becomes unprofitable then the ecosystem will collapse. But if its a coin that miners have significant interest or investment in and they see profitability decreasing due to energy costs, they will be incentivised to find cheaper sources of energy. This likely explains why so many bitcoin mines in china are located near renewable energy sources.
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