CryptoNight Coins: Mining Coins Using Regular Computers
A Problem that occurred as Bitcoin became used by more people, was that mining became harder and harder, this was done by design, as well as in more obvious ways like the Block Halving. So at first you could mine Bitcoin with a Laptop, but if you got a GPU you could really get some Bitcoins, then the ASICs came out and first it was Butterfly Labs and Block Erupter USBs, then eventually GPUs became impossible to use profitably, and CPUs were completely pointless because the electricity cost way more than what you get back, and you would have to have hundreds of computers running, and even then you wouldn’t get much. You have to have ASICs, and a lot of them.
Then around the time of Butterfly Labs first big ASICs there was Litecoin, and Feathercoin. But the same thing happened to them. And by the time DOGE came out there were already farms starting that could mine coins. Then as other types of coins were created, at first ASICs weren’t made for them yet, but eventually someone would make an ASIC and then more would come out. And CPUs and GPUs would fade out.
And now, CryptoNight coins have been created. CryptoNight (Kryptonite, like with Superman) is a coin that can only be mined by CPU, and GPU if you use a program that allows you to used GPUs at a dramatically reduced Hash Rate.
http://cryptomining-blog.com/2894-claymore-xmrqcnfcnbcn-gpu-miner-for-cryptonight-coins/
So these are coins that you can mine on your Computer, and if you run a few computers, you can actually make a profit if your electricity isn’t a bad price. I have not heard of anyone doing this, but I assume you can also point Servers at CryptoNight coins. So if you had Servers, you could point them at Dash or Monero, because they are CryptoNotes. And the Hash Rate would probably be mainly determined by the Number of Cores and amount of RAM. I’m not saying it would be profitable, but if someone for some reason has like 100 Servers at their disposal for a Week or a Month or for however long, they could mine a CryptoNight coin. A Coin could probably even be made based off of another CryptoNight coin that would make it even more suited to Servers. Someone could also probably modify Servers.
Here is a coin that some people have been mining on their Servers:
\https://github.com/HoldCoinGlobal/Holdcoin
CryptoNotes are coins mostly based on CryptoNight, but some are a little different from the first CryptoNote coin.
Here are some CryptoNote Source Codes:
https://github.com/monero-project/bitmonero
https://github.com/aeonix/aeon
https://github.com/dashcoin/dashcoin.github.io
https://github.com/cryptozoidberg/boolberry
https://github.com/CryptoCoinLabs/darknetspace
https://github.com/xpbcreator/pebblecoin
STEEM is also somewhat of a CPU coin, but I think that is mainly due to the Delegated Proof-of-Work. Because it is Delegated, there is no reason for anyone mining to get an ASIC because they will get the block just as fast, and is as frequent either way.
But the creation of something like a Server coin or Ubuntu coin or something like that could change Cryptocurrency. I am not sure if anyone has every tried this with a CryptoNote, but you can actually Mine coins using Amazon or Windows Cloud by creating a Virtual Machine. It’s not profitable with other coins, but it could be with CryptoNotes.
http://www.nextofwindows.com/how-to-create-vm-on-azure-to-mine-bitcoinlitecoin-in-10-minutes-or-less
https://bitcointalk.org/index.php?topic=396142.0
https://www.bitcoinmining.com/what-is-ethereum-cloud-mining/
https://bitcointalk.org/index.php?topic=8405.0
CPU Mining and Server Mining Could bring whole new Demographics to CryptoCurrency, with some good GUI, mining with CPUs will bring anyone with a Computer into a possible Coin miner.
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dash and monero are not CPU only coins.
I know, I have mentioned before that X11's have ASICs, this is just an overview of CryptoNight Coins, and that is what they are for. The Dash and Monero mention was just saying that you could point servers at them, not that no one else can mine them.
"So if you had Servers, you could point them at Dash or Monero, because they are CPU only. " I would drop the CPU only part because it will confuse people. good post otherwise though :D
Thanks, sorry. I wrote it in word last night and just moved it over today. I changed it.
no problem and no worries. followed :D
Simply Great Information and Presentation
Great info, thanks. So Monero can only be mined by regular computers, to put it in simple language, and not by ASIC's?
Ram doesn't matter and you need at least 2mb of cache per cpu core, which a lot of mainstream cpus don't have. So its not the everymans coin that comes off with your post. It is a lot more accessible than bitcoin.