Mining altcoins? | Bitcointalksearch.org

poodle63

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Quote from: Wayan_Pedjeng on May 25, 2019, 07:36:57 AM

Quote from: CryptoKush on April 11, 2019, 09:12:45 AM

I think that mining altcoin is attractive for small miners. The complexity of mining altcoins is lower than the complexity of mining Bitcoin. Therefore, I think that small miners will actively mine altcoins.

Even the altcoins which are outside the top-100 list in coinmarketcap have on average 10,000 or 20,000 users mining at a time. The rewards can get pretty low, in case you are going for CPU mining. And I would say that it is definitely not worth the risk of getting your AWS account banned. OP is having $200 in his account, and it may be better for him to use that balance effectively.

It's not a recommended way from the beginning to do that actually, cloud service was not putting GPU as its main resources but use good CPU and this time CPU is not even profitable;e even you mine with a lot of it because most of algos will be efficient for GPU.
This just a way to waste our time to get zero value.

mannybitcoins

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Do you think that everything is gonna screw with success in the medium future? I personally have always been an opponent of mining, because of this and interested.

angel55

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Amazon will easily detect anyone crypto mining with their services so I would just get that out of your head. Even if you could fly under their radar you wouldn't be able to do it 24/7 and you would end up earning a few pennies each day.

Wayan_Pedjeng

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Quote from: CryptoKush on April 11, 2019, 09:12:45 AM

I think that mining altcoin is attractive for small miners. The complexity of mining altcoins is lower than the complexity of mining Bitcoin. Therefore, I think that small miners will actively mine altcoins.

Even the altcoins which are outside the top-100 list in coinmarketcap have on average 10,000 or 20,000 users mining at a time. The rewards can get pretty low, in case you are going for CPU mining. And I would say that it is definitely not worth the risk of getting your AWS account banned. OP is having $200 in his account, and it may be better for him to use that balance effectively.

Enzo05

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Not so sure but I guess Amazon already banning aws services account if you are mining to clarify that just check their support first so your AWS account with balance won't be forfeited.

joshy23

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Quote from: martychubbs on May 23, 2019, 09:50:19 AM

I think at the moment mining is beneficial only for those who have free electricity or close to this value.

The reason why OP asked about it, he will use the Amazon vps and keep his mining out of the cloud,but based on what we are seeing and reading from those replies this can't be work ask Amazon will surely freezed or hold your account once they've found this things out.

VanDeinsberg12

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Quote from: ivan1975 on May 23, 2019, 02:55:23 AM

Is ban on mining with AWS clearly stated in the rules of service?
Something I did not come across such information.

It's not. But it will not even give you some pennies but that will cost you a lot of money. Amazon web service has very bad performance and this becomes a horrible thing to mine on it.

When the price of crypto increases a lot and the difficulty will increase too as per the increase of demand to mine that crypto at the same time. AWS can't afford to follow the difficulty increase and im sure your CPU will be so hot. Some people said that will not directly violating ToS.

martychubbs

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I think at the moment mining is beneficial only for those who have free electricity or close to this value.

ivan1975

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Is ban on mining with AWS clearly stated in the rules of service?
Something I did not come across such information.

KryptoKai

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If you want to mine on aws you can try scheduling the mining so it is not doing so 24/7 which means less likely to get caught. However, you won't get much return so not worth it unless it's free

rdluffy

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Quote from: crairezx20 on May 22, 2019, 04:47:50 AM

Do you guys have an update about this if aws still banning mining?

I heard that only high CPU usage will be ban if you can reduce the CPU usage by half you can stay mining with AWS.

How about using the GPU instances in AWS? Do you have any experience mining with GPU instances?

Don't do that, they will ban you quickly, it's not hard to find who is mining on AWS
Mining is not allowed, they wrote that on rules

crairezx20

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Do you guys have an update about this if aws still banning mining?

I heard that only high CPU usage will be ban if you can reduce the CPU usage by half you can stay mining with AWS.

How about using the GPU instances in AWS? Do you have any experience mining with GPU instances?

HudiBaba@06

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Mining Wasn't always a Big Thing and so if it was in those Good Old Days where Bitcoin's were at the Price of Al coins. So, Keeping Thing's Straight into Mind. Mining is only Profitable when We have High-end specification's ACET miner's which would lay some amount of profit according to the Particular Altcoin which you want to mine In. But we have to take many things into Consideration before getting into Mining because Mining is not as sweet as you think. good luck.

DeathProxy

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I will suggest that you channel your energy into mining low undervalued altcoin with good project usecase. Those types have less difficulty in mining and you can make good profit from mining such kind of altcoin easily

Psynthax

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Quote from: CryptoKush on April 11, 2019, 09:12:45 AM

I think that mining altcoin is attractive for small miners. The complexity of mining altcoins is lower than the complexity of mining Bitcoin. Therefore, I think that small miners will actively mine altcoins.

The result will be the same and there will be no a lot of differences. It's not so attractive to consider mining just like a competition. The only chance for small miners to mine small coin and when that small miners are trying to mine big coin and it will be the same as you mine bitcoin. It's about the competition to get more and more hashrate.

CryptoKush

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I think that mining altcoin is attractive for small miners. The complexity of mining altcoins is lower than the complexity of mining Bitcoin. Therefore, I think that small miners will actively mine altcoins.

stfN2128

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Quote from: raghovsing34 on April 10, 2019, 01:32:01 AM

Quote from: YuSoDum on March 08, 2019, 07:03:22 AM

Good luck. I got banned from mining thru AWS on two accounts. Back when burstcoin was actually worth mining....

Why mate? Why you got banned from mining thru AWS? can you explain it for me? I also want to know the reason.

Because its not allowed to mine coins through amazon aws service, as already mentioned above Huh

raghovsing34

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Quote from: YuSoDum on March 08, 2019, 07:03:22 AM

Good luck. I got banned from mining thru AWS on two accounts. Back when burstcoin was actually worth mining....

Why mate? Why you got banned from mining thru AWS? can you explain it for me? I also want to know the reason.

YuSoDum

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Good luck. I got banned from mining thru AWS on two accounts. Back when burstcoin was actually worth mining....

ChrisTaylor

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It is the project that you believe in based on your own research. It is best to focus on mining coins that you have done research on. For either future profit or simply to support the project.

Since recently the market is stable, so Altcoin mining is profitable.

But if you are wondering what I am mining it would be Historia coin. Here is the link to on how to start mining it. I simply love what the team is trying to build.

How to mine for Historia

Topic: Mining altcoins? (Read 959 times)