How profitable is CPU mining? Answered.

in mining •  2 years ago 

GPU Mining

There are lots of options with GPU mining, you can run your own hashes directly on coins like Etherium or others, you can join services that claim to automatically get you the best profit based on current hash rates.
All in all there is a ton of crazy competition, you are burning enough electricity to heat your home in the winter, and for many of us its coming up to the hottest time of the year.
Hot weather will inevitably lead to hot claims on forums about what coin is hot right now (did I use the word hot enough?), who is pumping the most hashes on what modified water cooling and all that jazz.
Its getting so intense we are seeing reports of GPU manufacturers eyeing the GPU mining market for some special products.


We All Know CPU Mining Is Dead, Right?

Well no, you can still CPU mine and make a paltry couple of hundred hashes per second, which is about as useful as an ant fart in a hurricane. Its probably more economical to leave the CPU at idle, than burn another 50 Watts for no real chance of a return, which I suspect most people do.
But think about that for a second, you have this totally amazing bit of technology, sitting in the heart of your rig, trundling along at way below its peak capacity. You paid good money for that silicon, its an asset you are under-utilizing because there isnt a valuable way to use it.... what a shame.


The BIG Reveal, Not Quite

We are now at the point where I explain its not as simple as it seems. First we need to talk about value, then we can talk about return, then we will get to profit.
Value then, whats valuable? Is human life valuable, I think most people would agree it is. Human life free of diseases, even more so, I think most would agree (where the hell is he going with this?).
Well there is a way to extract value from your CPU and help to seek cures for diseases, its called BOINC; this deceptively bland webpage fronts one of the most amazing feats of the technological age; distributed computing. Take a huge problem, like trying to find a drug to cure AIDS, build a virtual model of the AIDS virus, build virtual models of every drug candidate that exists (of which there are millions) and simulate how each drug candidate interacts with the virus. OK that sounds easy, but even on modern supercomputers, its going to take years of processing, so if we are going to distribute this task, we are going to need a lot of computing power, I mean a serious SHIT TON of people willing to give their idle CPU time; now you see where Im going with this, right?
You have all this under-utilizied capacity, and someone needs capacity to try and cure AIDS, well what the hell are you waiting for? In fact there are often around 50 active projects on BOINC, doing all kinds of things beyond drug discovery, from mathematical proofs, particle physics, atsronomy, biology and many more.


Hold On, You Missed Out Return And Profit

OK sure, you are one of the goods guys, we know it. But you cant just be running your CPU, burning more electric, its damn hot in your house already!
Well thats where Gridcoin comes in, NOW THIS IS THE BIG REVEAL....

Gridcoin pays you for doing that scientific research on your spare CPU cycles, at worst it will get you some return, but right now its getting a lot of attention and the price is escalating and money is being made, so why are you missing out?


So lets crunch some numbers and see where we are at, I mine Gridcoin on a core i7-6700k @4.2 Ghz, an old i5 M-430 laptop, 2 x Raspberry Pis and 3 x Android phones (yeah you can use all kinds of kit). I make about 12 GRC a day, as Im writing this GRC = $0.08 so thats $0.97 per day. My electric costs $0.16/kWh and all my kit uses around 230Watts, oh and I only mine 12 hours a day, so thats:
0.23kW x 12h = 4.8kWh/day * $0.16 = $0.44 in costs
$0.97 - $0.44 = $0.53 profit per day

All this for 53 frikin cents a day? Well, its 53 cents + helping to do important scientific research + utilizing your assets to their maximum. But that is not all, Gridcoin also rewards on Proof of Stake, so you have staking rewards to add on top of any mining rewards too.


Its simple, sort out your karma and dedicate just 1 CPU core to doing BOINC work, part time, and you can hold your head high and say that not only did you get rich in the crypto boom, you helped people too. Or go all in, BOINC wont hurt your computers; on my kit Gridcoin wallet uses 3% CPU on my windows machine, but I usually run it on one of my Raspberry PIs! BOINC always sits at lowest prority, you can even game with it running in the background.

Gridcoin is one of the best use cases of cryptocurrency, its hard for anyone to argue that crypto isnt kind, when coins like this are doing the right stuff for humanity. Worried this doesnt have a future? BOINC has been around longer than Bitcoin, Gridcoin is in its 4th year (strong and stable), its at number 14 on coingeko by development and there is way more in the roadmap than it has acheived already, but this article is long enough, you already know what to do.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I think nowadays altcoin mining become faded. Since mining is not a good solution for scaling up the altcoin. The altcoin is going to change from POW to POs. And there are more and more ICO with fixed amount of tokens. So the future of mining is not so optimistic...

Thats a good perspective, but for your information Gridcoin is hybrid Proof of Work and Proof of Stake, so you can use either method, or both methods together.
Come and join us and give it a try.

I think at this stage of bitcoin has becoming so popular, it is very difficult for you to make significant profit through mining. You will need professional mining equipment which costs much and you need to pay for the electricity running the equpiment, while the return rate is low...

I think you missed the point

The post is about Gridcoin, since we all know Bitcoin isn't something you can mine on a CPU

You saw that I wasnt talking about Bitcoin, right? Im just asking in case my wording wasnt clear.

  ·  2 years ago (edited)

Great post! I love how Gridcoin doesn't require ASICs (or even GPUs, or even Xeons) to be competitive/profitable. The best value I've found so far is actually a single board computer: the Odroid XU4. $80, generating 27 magnitude (6 GRC per day) on [email protected]

hui, really? Thats a shitton of Mag for a cheapo board!

  ·  2 years ago (edited)

it's an absolute beast, whetstone 1475 dhrystone 5401, and like 10 watts

Thats a bit faster /about the same then the atom in the UPs under Linux - but there are only 4 cores. (And 5W less, but thats to expected :D).

Do your universe tasks run smoothly? Since about 2 month I often have one or even more that just don't go farther. It is one reason why I switched to TN Grid for the atoms.

In the last ~3,000 tasks, I've had to abort around 10 due to that issue. Kinda sucks that you have to babysit it.

I switched to tn-grid for like 12 hours the other day b/c [email protected] ran out of work. but, things seem to be back to normal and i also increased my work buffer, so maybe next time my cores won't be interrupted.

i was just talking to someone about using a spare computer to mine; and reading your exchange was like confirmation

Wow that's a lot! My Orange Pi PC & One + Raspberry Pi 3 + Pine 64 all makes 26 mag combined in that project...

  ·  2 years ago (edited)

It's nice that the Odroid comes with powersupply and active cooler too. Just need to pop in a SD card and some kind of connectivity (wifi dongle or ethernet). My Pine64 is 8 mag, my RaspPi3's average 10 each. Orange Pis are still in the mail from China...

The problem I've seen is that my CPUs throttle because of the heat, and I tried attaching a USB fan and it fried one of the PSUs... :( With the fan, the Orange Pi One was running pretty nice. Maybe because of that is why my mag is pretty low.

Fortunately I had a couple of spare noctua 12v fans which I run off the Pi USB without isses; cool and quiet

It could be the fact that my PSUs are those cheap 5V 2A that are found on Amazon :p

Yeah I opted for official psus

Too much heat can really screw things up. My NanoPiM3 can only use 7 of the 8 cores. In fact, the OdroidXU4 throttles to 1.8-1.9ghz (2.0ghz max) even with the active cooler, plus another fan, and 21C ambient.

Excellent work!

I can't wait to receive the rest of my SBCs so I can write a post here comparing their relative values. By the way, was it very difficult to get the wallet running on a Pi?

If you use Ubuntu I think there is a community hosted repository. I use Raspian-lite so I compile it from source code, if you need it I have full instructions which I can make a post about if you like.

That would be very cool, as I'm still quite noob-ish

Great article. I'm running BOINC for over a year now and never regret it.

Yeah, there are no regrets to helping science, well done :)

Thanks for the motivation to reinstall BOINC after some years and a whole bunch of different computers- I finally have a rig with decent (they were high-end gamer specs 5 years ago), one CPU to help the world is nothing...

Welcome back, its like a nest of ants, each one on its own can accomplish very little, but when we work together we can acheive amazing things

Ha, I laughed when I read the 'ant fart in a hurricane part'. Like it so much I had to quote you in my FAQ:

Ha ha, thats great.

Happy day dear
Post is awesome

Thanks, come and join us in Gridcoin-land if you didnt already :)

Thank you for this great post. Are you aware of any tutorial describing the Gridcoin setup on a Raspberry Pi?

If you have Ubuntu on your Pi there is some PPAs, I didnt use them myself here

I use Raspian-lite (command line only) and I have compiled from source, I had a couple of questions about that now so as soon as I can I will create a full guide on steemit, I will mention you so you can find it

Wow, thank you very much. That would be awesome. :-)

hi i want to know which is the best mining software for cpu or gpu mining im still confused i m just a beginner and someone told me about gui minner also about slush pool signup but when ever i used that miner it ask for username and password and when enter the id and password its give an error is there any other miner u recommend

Read my post, dont waste your time with those hash miners, join Gridcoin.

BiblePay (BBP) is a new CPU only charity cryptocurrency:
10% of mined coins go to Charity, the project is already funding 175+ Orphans monthly!

BiblePay is a fork of DASH (governance model)
with ASIC Resistance (CPU Only mining) like Vertcoin

Masternodes (Sanctuaries) are going live this December 2017,
by owning one you become a part owner and can vote on the direction of the project!

Launch Thread:

Love one another,
be a good Samaritan,
help those in distress (orphans & widows),
and spread the gospel