It has been a month since my last blog post on my crypto mining experience. Here are some of my most recent updates.
First, I switched my OS from Windows to Linux for better remote control. The OS really affected the choice of mining software, since some of the mining software just does not support Linux very well. Open-sourced miners generally work well, E.g., ethminer for Ethash and xmrig for CryptoNight, as you can always compile the source code yourself. works really well in Linux. However, for proprietary codes, it really depends on the binaries provided by the developer. E.g., Claymore Miner just does not work for RH based distros because the version of
openssl library it compiled with (as on 3/21/2108). NiceHash’s proprietary CUDA miner (which supports multiple algorithms), excavator only provides deb package for Ubuntu. However, in other distros (at least for Fedora 27), you can still get the binaries by unpacking the deb file using command:
excavator seems slightly strange to me at first but turns out surprisingly easy to use after I get used to it. The TCP port binding allows smooth control of devices and algorithms.
Second, for mining pools, I currently use NiceHash+MiningPoolHub. As the pay rates of mining keep decreasing due to the bearish market recently, I have to squeeze any little profit by using an auto switcher to chase the most profitable platform and algorithm. On NiceHash, you are actually selling your hash power rather than mining for a specific coin, your pay rate really depends on the order prices on NiceHash, which seems to have a lot of oscillations. When the pay rate on NiceHash is low, the switcher will simply pick the most profitable coin based on real-time network difficulty and extrange rate. One important reason I chose these two platforms is that NiceHash pays directly in BTC, and MiningPoolHub provides auto exchange function, which saves you trouble if you ultimately want to exchange your altcoin mined to main stream cryptocurrency.
I know the profitability of mining has been really low recently especially for use without cheap electricity. It’s still fun experience as I am learning a lot of new things like block chains, crypto algorithms and even finance and investment. Let me know if you are also interested in cryptocurrency!