Friday Night Chat- Second Thoughts on Minergate
So I made a post on Minergate a few weeks back (https://steemit.com/minergate/@tinycryptoblog/mining-cryptocurrencies-using-minergate-pros-cons-and-my-take-on-it)
Having used it in withmy GPU since last month, I have second thoughts about recommending it, at least as far as profitable mining goes.
Some points to consider:
-high withdrawal minimums
-silly Monero withdrawal fees (I mis-stated them at .1 to .08 - it should have been .1 to .02)
-reduced hash rate using their software
Although, if you want to mind bytecoin, being able to make small withdrawals makes it more worthwhile, if mining bytecoin is your thing. The other alt coins offered on cryptonight aren't something that I would make it a point to mine, personally.
I think the ease of setup and use is the biggest draw, but in the end, once I get myself better educated on how to set up console mining (and my Monero can be withdrawn,) I'm ditching Minergate.
Be well, Everyone.
PS - Enjoy the walk to the train with me.
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What would u suggest to use to mine instead? I have had problems with console mining in the past with it just not working or being very slow as well and nanopool having very high withdraw amounts. Is there a better option?
I'm still new to mining and haven't gotten the whole setup process for console mining figured out yet. In lieu of that, I use the Vertcoin One Click Miner. It's fairly easy to set up, and there's a lot of Q & A content on the Vertcoin Reddit pages. Payouts have been direct to my VTC wallet. The VTC community is pretty active and generally supportive. https://www.reddit.com/r/VertcoinMining/
To use it, you definitely need a GPU that can get at least 5 Mh/s on the Lyra2REv2 algorythm. https://whattomine.com I've tried CPU mining with an i7, but was hitting only 350 Kh/s, which paid little to nothing. (For reference, 5 Mh/s is what my 750ti is pulling. My GTX960 is pulling 13.50 Mh/s.)
If you do end up using OCM, my personal suggestion is to use this pool: http://45.63.77.16:9181/static/ It is located in Chicago, but I think it might be in one of the suburbs that has a really good internet connection. The pool itself pulls anywhere between 500-1000 Mh/s.
If you're doing CPU, Minergate is still what I'm using until I figure out CPU console mining and for which coins.
The final CPU option is Javascript browser mining on Coinpot, which isn't going to yield very much, but it's there.
Hope that helps. If you've got any other questions, feel free to shout out.