The Radeon R9 290x Tri-X graphics card mining profitability ratios, payback period for ETH mining and annual return. All based on live amd 290x bitcoin mining hash rate statistics and ethereum prices. System bar at the top of the screen.
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Are you sure you want to add Bitcoins to this BTC Wallet? This operation takes a while and cannot be stopped, check your address before confirming. Monero, a fungibility and privacy centered currency, has been gaining significant traction in dark net markets around the globe. Here’s a quick guide regarding the hardware that you should use. Monero does not have any ASIC mining hardware, so you’re left with the option of mining with CPUs and GPUs. What’s special about Monero’s mining algorithm is that it lowers the performance gap. As a result, the efficiency gap between using GPUs and CPUs to mine is low relative to other cryptocurrencies.
This causes ASICs to be prohibitively expensive for mining Monero, and therefore creates an arguably fairer playing field. To get the most bang out of your Monero mining buck, you’ll be best off buying as many cheap CPUs as possible. Keep in mind that you could also reach better margins by investing in fewer, but stronger CPUs that have a better hash to power consumption ratio. Essentially, you’re best off stacking many affordable GPUs instead of spending large amounts on newer cutting edge cards, as GPU innovations charge extra for chip features that just hit the market. It helps to participate in a mining pool to secure steadier rewards for your mining efforts. Note that some of the pools above mine for other cryptocurrencies as well.
Also, make sure to stay updated as to the different pool fees so that you don’t fall behind your margins. Some pools have unexpectedly changed their terms and conditions in the past, so be vigilant for updates and change pools when needed. This is an alleged consequence of the decrease in the advantage that GPU mining brings over CPU mining compared to other Proof of Work algorithms. As a result, Cryptonight benefits the casual miner by reducing the payoff received from specialized hardware, which makes GPUs prohibitively expensive in many cases.
GPUs and ASICs are forced out of the equation by making the hash inefficient to compute with low memory architecture. To be prudent, estimate your hash-rate, power consumption and electricity costs before committing to a significant hardware investment. After all, you don’t want to be stuck with equipment that will be operating at a loss. It helps to gauge values between multiple mining profitability calculators.
So it’s safe to say that the hardware that you buy for Monero mining can also be used to mine Bytecoin effectively if you choose to do so. So your options aren’t limited to just Monero and Bytecoin. Either way, Monero is worth up to two orders of magnitude than any of these other coins, and brings more functionality to the table. The choice is up to you, but the decision should be clear.