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
#2Wouldn't a user mining for themselves use a desktop program miner? Coinhive has the overhead of running in a browser and takes 30% of the haul.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#3Does 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...
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#4Does 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.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#5Does 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 you care about the network's security and decentralization or not at all. If you have access to next-generation mining hardware or cheaper-than-normal electricity, you might have a case for "yes". Or, as you indicate, if you have a malicious way to run the miner or mostly-malicious-"not-too-clearly-disclosed-to-end-user", that is almost certain to make money.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#6Does 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.
Actually both GPU and CPU mining is generally profitable compared to the energy costs, of course depending on your rate.
But then there's the cost of the hardware which may be difficult to recoupe.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#7Wouldn't a user mining for themselves use a desktop program miner? Coinhive has the overhead of running in a browser and takes 30% of the haul.
There are ways to connect the miner to other pools, a desktop miner would be more effective.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#8Does 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.
This is just not true for basically all of 2017 with the rate at which the value of all the coins has been rising. Especially if it is your desktop on off hours so the hardware is essentially a sunk cost.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#9Does 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…
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.
Re: XMR mining app, built with Vue.js, D3 and CoinHive
#10Earlier 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.
I think you're both partially right. Profit motive is what drives people, but profit margins will be shrunk so in an established mining ecosystem like bitcoin you probably aren't going to make any profit (after accounting for opportunity costs).