Topic: How to mine Earthcoin [EAC] using Digitalocean Cloud VPS (Read 7997 times)
Mining coins with Scrypt algorithm is very difficult through VPS. Aside wasting your time, you might get banned as this is prohibited not only on DigiOcean but other VPS as well such as Azure.
@virtualdn, can you set up a few coins for me to mine on Digital Ocean?
Not to be trite or offensive...but let's try to leave this type of nonsense out of the forums.
Mining at 6 khash or 30 khash or however many droplets you may have for anything other than a CPU/quark-based coin is a foolish endeavor and although I think it is nice that you have created a guide in this exercise for user's to benefit from; trying to gouge other users through referral, possibly targetted at the newbie/beginner community does nothing but hurt the reputation of bitcointalk and the type of people that we have here.
If it is indeed true that you do not want to spend money on a GPU and would rather just use credit for mining, there are choices that are orders of magnitude better than what is possible with DigitalOcean, Amazon GPU spot instances and initial $25/$100 credit for instance - even at their elevated rates; while still by no means profitable are still a much better value at ~200 kh/s.
But then, again if you are simply focusing on using these free credits as to not have to put out your own money...it's not a sustainable approach anyways - if your true belief is in the coin and it's speculative value, then you would be much better served just buying the coin outright whether it be once it hits an exchange early or even before in one of the organized spreadsheets.
Anyways let's try to bring true value to the community; and if you are indeed just trying to show an exercise of how you used cloud computing to do this, that is great; and indeed useful to others, but let's not pollute it with referral links and endorse it to the community when it is a clear losing proposition.
All the best and happy holidays,
Altminer77
Mining at 6 khash or 30 khash or however many droplets you may have for anything other than a CPU/quark-based coin is a foolish endeavor and although I think it is nice that you have created a guide in this exercise for user's to benefit from; trying to gouge other users through referral, possibly targetted at the newbie/beginner community does nothing but hurt the reputation of bitcointalk and the type of people that we have here.
If it is indeed true that you do not want to spend money on a GPU and would rather just use credit for mining, there are choices that are orders of magnitude better than what is possible with DigitalOcean, Amazon GPU spot instances and initial $25/$100 credit for instance - even at their elevated rates; while still by no means profitable are still a much better value at ~200 kh/s.
But then, again if you are simply focusing on using these free credits as to not have to put out your own money...it's not a sustainable approach anyways - if your true belief is in the coin and it's speculative value, then you would be much better served just buying the coin outright whether it be once it hits an exchange early or even before in one of the organized spreadsheets.
Anyways let's try to bring true value to the community; and if you are indeed just trying to show an exercise of how you used cloud computing to do this, that is great; and indeed useful to others, but let's not pollute it with referral links and endorse it to the community when it is a clear losing proposition.
All the best and happy holidays,
Altminer77
I think I'd like to dispute this a bit.
I can't really dispute your facts in regards to profit. Either way, actually, as I have not tried this. I might. And the "why" of that is why this thread adds value to the forum.
First, I want to say to Virtualdn and the audience, that I got NO issue with trying to make a buck via referrals, as long as you're not being deceptive about it. I'm actually highly in favor of this model, as my sig demonstrates. But that's an aside.
Why would I do this, even thinking it's likely to be unprofitable from a purely monetary standpoint?
I can think of several reasons.
1. Entertainment. I get off learning new ways to do things, even if they aren't necessarily the BEST way to do it.
2. You might like the coin, but not have the resources to devote to it. (For the purposes of full disclosure, I have just been invited to join the development team of Earthcoin. However, I mean this item generically.)
3. potential profit via referral. A bunch of small income streams can equal a better living, which can equal a better lifestyle. Those seeking poverty or who do not want others to profit, well have fun with that.
4. Education. You can screw up really badly for five bucks and only be out five bucks.
I could probably think of more, but I'm drunk and that's enough for now. I'll probably be trying this in the next few days. If I don't make a profit, such is life. If I do, great. Either way, I'll have fun and learn some things. For me, that's value that you almost can't put a price on.
I have installed everything on the vps but when i type this command it does not work.
./minerd --url stratum+tcp://server:port --userpass worker.name:password
What do I do and how does it know to reach my wallet address?
./minerd --url stratum+tcp://server:port --userpass worker.name:password
What do I do and how does it know to reach my wallet address?
guide is good but theres no way to profit.
only if u have servers for free u can do this. other than that.. nope
only if u have servers for free u can do this. other than that.. nope
I would be interested in doing this just to get a wallet because as a Mac user there is no other way I can see to be able to get an EAC address. Problem is I am clueless at how to execute terminal commands and am not capable of following these instructions.
you won't get an address using this guide, this is just for mining. to get an address you must compile the wallet code on your server.
This is absolutely not profitable, not at 6kh/s.
6kh/s x 5 droplet = average above 30 khs
i've posted a disclaimer on my first post so there are no more problems. thank you all.
I would be interested in doing this just to get a wallet because as a Mac user there is no other way I can see to be able to get an EAC address. Problem is I am clueless at how to execute terminal commands and am not capable of following these instructions.
This is absolutely not profitable, not at 6kh/s.
gpu is better than cpu for mining, i agree 100%, especially for this kind of coin. but not everyone has gpu.
as for the referral link, yes, it's obvious i gain from it, but i'm not forcing anyone to sign!
as for the referral link, yes, it's obvious i gain from it, but i'm not forcing anyone to sign!
To virtualdn the OP of this thread
The big no no for me is simply this:
You have made an extra ordinary claim:
The claim that mining scrybt coins with a CPU on digital ocean is profitable when everybody is mining them with GPU's
Extra ordinary claims require extra ordinairy evidence
You have provide no evidenced what so ever ! that can be verified ! (just an anecdote how you made money mining dodgecoin)
so I suspect you are a digital ocean affiliate trying to make money by getting them new customers, and all who do so will loose money, while you make money off them, but I could be wrong of course, but this is my gut feeling.
The big no no for me is simply this:
You have made an extra ordinary claim:
The claim that mining scrybt coins with a CPU on digital ocean is profitable when everybody is mining them with GPU's
Extra ordinary claims require extra ordinairy evidence
You have provide no evidenced what so ever ! that can be verified ! (just an anecdote how you made money mining dodgecoin)
so I suspect you are a digital ocean affiliate trying to make money by getting them new customers, and all who do so will loose money, while you make money off them, but I could be wrong of course, but this is my gut feeling.
^wrong, it's not called a loss, i've only consumed $3 credit to mine the 10,000 Dogecoins... still have $12 credit left! (and i've paid $5)
not everyone owns a gpu for mining.... why is it so hard to understand? i don't own one... and so are many others.
this is an option, don't choose it if you don't like it.
i will stop here, feel free to post what you want, thanks for bringing the thread in attention after all.
not everyone owns a gpu for mining.... why is it so hard to understand? i don't own one... and so are many others.
this is an option, don't choose it if you don't like it.
i will stop here, feel free to post what you want, thanks for bringing the thread in attention after all.
At current rates you've made $4.68. That's called loss.
Mining scrypt at 6kh/s isn't an option. I wouldn't do this even for free.
Mining scrypt at 6kh/s isn't an option. I wouldn't do this even for free.
stupid.
mining strict cpu coins is already hard to breakeven on DO. So, Scrypt based coins with cpu is a retard move. My wonderful 2004 Nvidia geforce 250 bought at 25 usd$ would kill 8 of your 5$/month DO droplets easily but of course I am not even considering throwing it at mining ...
Really, stop this bullshit
mining strict cpu coins is already hard to breakeven on DO. So, Scrypt based coins with cpu is a retard move. My wonderful 2004 Nvidia geforce 250 bought at 25 usd$ would kill 8 of your 5$/month DO droplets easily but of course I am not even considering throwing it at mining ...
Really, stop this bullshit
i'm not trying to convince anyone. i'm showing an option.
a gpu is an investment. not everyone owns it. i wouldn't pay hundred dollars for it to be honest. too risky for me.
some people own laptops and have no gpus. mining on a laptop means killing it.
it worked for me so far. feel free to mine how you like... nobody forces anyone here.
a gpu is an investment. not everyone owns it. i wouldn't pay hundred dollars for it to be honest. too risky for me.
some people own laptops and have no gpus. mining on a laptop means killing it.
it worked for me so far. feel free to mine how you like... nobody forces anyone here.
Digital Ocean is useless to mine scrypt-based coins.
this is the 2nd time this guy makes comments to hijack my threads. i think this says it all.
my reasons to mine scrypts on digitalocean
1. cheap
2. zero electricity
3. no gpu failure
4. high return rate if value of the coin willl increase in time
5. low risks
seems to me mining scrybt coins with a CPU is pretty useless also.
But maybe I am wrong, could be.
Your first point is that is is cheap, like how is this cheap ?
Think you should make a calculation what the total costs per kh/s are when mining with scrybt coins on Digital Ocean CPU compared to mining then on a GPU
Im pretty sure it is a pointless excercise to try to compete with a CPU against a GPU and I suspect you are just trying to get people to get a digital ocean account, but I could be wrong again of course
IF you wanna convince me that this is worthwhile to do, you got to come up with some numbers as to why it is "cheap" to mine on digital ocean, just stating it does not cut it for me at all
^
1. i'm mining there myself; made 10,000 Dogecoins paying $5 that's called profit i guess even if small
2. chosing droplets with more cpus and creating more instances increases hashrate
3. i'm not forcing anyone, i'm showing an option. you're free to choose what it's best for you.
just because a coin values a little now it doesn't mean that will value a little forever, profit and mine it.
yes, there is a risk in everything. no risk, no gain.
1. i'm mining there myself; made 10,000 Dogecoins paying $5 that's called profit i guess even if small
2. chosing droplets with more cpus and creating more instances increases hashrate
3. i'm not forcing anyone, i'm showing an option. you're free to choose what it's best for you.
just because a coin values a little now it doesn't mean that will value a little forever, profit and mine it.
yes, there is a risk in everything. no risk, no gain.
Why on earth would anyone want to mine scrypt-based coins in a CPU cloud?
People actually may lose their money if they follow.
If you have a DO cloud, mine CPU coins, not scrypt. Unless you have NO GPU AT ALL and you totally need to mine "such cute retarded doge"
People actually may lose their money if they follow.
If you have a DO cloud, mine CPU coins, not scrypt. Unless you have NO GPU AT ALL and you totally need to mine "such cute retarded doge"
Digital Ocean is useless to mine scrypt-based coins.
this is the 2nd time this guy makes comments to hijack my threads. i think this says it all.
my reasons to mine scrypts on digitalocean
1. cheap
2. zero electricity
3. no gpu failure
4. high return rate if value of the coin willl increase in time
5. low risks
Sorry, mining scrypt-based coins on Digital Ocean is useless. 6kh/s is simply not profitable at all, in particular given the fact that Earthcoin features 120 billion coins. Thus the peanuts one can mine on DO are very unlikely to ever be worth more than the money spent on the cloud servers. You create these threads merely for your own profit and don't seem to care to warn other people that money invested here will be lost money.
By the way, you should rather thank me for pushing your threads up thus earning your referall links more attention
! Don't hate! Digital Ocean is useless to mine scrypt-based coins.
this is the 2nd time this guy makes comments to hijack my threads. i think this says it all.
not everyone has computers suitable for mining, it's your problem if you don't want to mine, let the ones who want do it
my reasons to mine scrypts on digitalocean
1. cheap
2. zero electricity
3. no gpu/system failure risks
4. high return rate if value of the coin willl increase in time
5. low risks
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