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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

#21

Post by VickBear »

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…

I really wanted to get into mining BTC for awhile now and I see that ETH has a good reward rate relative to BTC. I pay no electricity so there probably is no reason not to, right? Does the GPU get worn down a lot? I have a 980 TI.

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

#22

Post by icelancer »

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…

This is true about non-memory hard coins, as almost all the first gen coins were. This might not be true about memory hard coins like XMR, especially when HBM2 chips cannot be manufactured quickly enough and raw compute power does very little as a mining power multiplier.

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

#23

Post by icelancer »

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.

> Extremely unlikely. Even GPU mining with good hardware cuts it close with energy consumption depending on your energy costs.

What? This is seriously wrong. ROI fluctuates between 200-600% for XMR and its derivatives.

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

#26

Post by adventured »

DigitalJack wrote: post #9
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…

There aren't enough altruistic people to make the blockchain trustworthy. Profit motive is the entire driving force behind the trust model of bitcoin, et al.

You've got that exactly backwards. The profit motive being predictable is what every market based economy heavily counts on. Which is to say, most of the world's economic activity relies upon the profit motive as the foundation of trust.

Hundreds of trillions in global wealth and $100 trillion in annual economic output are powered by very predictable self-interest. You can build trust networks around it and you can build regulations based on it, precisely because it's extraordinarily predictable and universal to the extent necessary for the whole system to function with billions of participants.

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

#28

Post by UncleEntity »

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?

There seems to be a bit of disagreement over this.

Let me ask it another way, would it be worthwhile for someone too lazy to replace the dead battery in their thermostat to mine some coins to add a little heat to their apartment and make a couple bucks in the process?

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