Author Topic: Has anyone signed up for Mingergate?  (Read 1398 times)

Offline Captain Obvious

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Has anyone signed up for Mingergate?
« on: June 21, 2017, 09:17:58 AM »
Jack has touched on Minergate a little bit and I went ahead and used his link to start mining.  Just curious if anyone has any experience with this.  I figure I'll give it a solid week then assess where I'm at and go from there.

I haven't found a whole lot of information on Minergate but the interface seems pretty intuitive.  I set it up to mine Dash.  I have a desktop going full time, and I may use the laptop.  I'm assuming you can use multiple computers at the same time?

I'd love any feedback from others who are doing this.
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Offline LVWood

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Re: Has anyone signed up for Mingergate?
« Reply #1 on: June 21, 2017, 09:47:49 AM »
It's my understanding Cryptominers don't actually make you any money, you make them money with your hardware and you lose any advantage through power consumption alone.

https://bitcoinworldwide.com/mining/profitability/
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Offline Captain Obvious

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Re: Has anyone signed up for Mingergate?
« Reply #2 on: June 21, 2017, 10:09:14 AM »
That's my understanding too, but this is not for mining Bitcoins but some altcoins (dash, ethereum, etc...).

I suppose the power consumption thing could be mitigated somewhat if I mined on the laptop and charged it up in the truck when I was running errands, though that's not something I would do on a consistent basis.

If no-one else that has tried this chimes in I'll post my progress after a week or so.  Maybe I'll do it until I get my next electric bill.   ;D
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Offline fritz_monroe

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Re: Has anyone signed up for Mingergate?
« Reply #3 on: June 21, 2017, 11:21:29 AM »
I've thought of doing something like that.  I just didn't have the expertise nor the time to figure it out.  I'll be keeping an eye on this thread, please post your progress.

Is there a referral thing for it?  If so, post your info so others can use you as the one referring them.

Anyone know if a Raspberry Pi can be used for mining?  Very little electrical use, but limited power. 
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Offline LVWood

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Re: Has anyone signed up for Mingergate?
« Reply #4 on: June 21, 2017, 11:25:33 AM »
It's my understanding you need lots of horsepower. A normal desktop PC or laptop probably wouldn't work so well
Raspberry pi? I don't think so.
Unless you chained hundreds together as a massively paralleled machine.
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Offline fritz_monroe

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Re: Has anyone signed up for Mingergate?
« Reply #5 on: June 21, 2017, 12:29:09 PM »
No offense, but without actually trying it, there's not really anyway to know if it will work or not.  I have several RaspPis laying around.  For me, it will be just playing around to see if it works.  If I get a couple of coins, great, if not, then I learn something.
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Offline zooish

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Re: Has anyone signed up for Mingergate?
« Reply #6 on: June 26, 2017, 12:29:28 AM »
Captain,

Care to do an early update.  I have been researching mining and just curious as to how this has been working for you. 

Thanks

Offline Captain Obvious

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Re: Has anyone signed up for Mingergate?
« Reply #7 on: June 26, 2017, 08:16:06 PM »

Is there a referral thing for it?  If so, post your info so others can use you as the one referring them.


I used the link on Jack's homepage.  http://www.thesurvivalpodcast.com/
The setup process was very easy.  If you don't know which coin to mine there is a "smart mining" feature that determines which coin is currently the most profitable to try to mine.

Captain,

Care to do an early update.  I have been researching mining and just curious as to how this has been working for you. 

Thanks

Sure!  First off, there are maybe a dozen or so different altcoins to choose from.  All I know about Crypto currency I learned from Jack's show, so please don't consider me any sort of authority.

One thing you'll notice is the option to mine dashcoin.  THIS IS NOT THE SAME AS DASH.  Minergate currently does not allow you to mine dash, which is something that Jack has talked about a few times.
https://minergate.com/blog/dashcoin-and-dash/

At first I installed Minergate on my (rather old) desktop.  It doesn't mine very fast.  You do have the ability to set how much of your computer resources to mining.  If you set it at the maximum amount and you have a desktop like mine you will frequently hear the machine working very hard.  After a day or so I reduced it to a low level and it's constantly running.  I've made less than $.10 with it so far, and I haven't even looked into how to actually withdraw anything.  I'm sure there will be some fees along the way.

I then installed it on my new Macbook Pro (with the same account) and it goes much faster.  I don't leave the machine running all the time but it's probably best to go with a decent machine like this.  There is an option to test your computer to see how it compares and mine was pretty good.  The first 2 days I let it do the smart mining and it decided on Monero (XMR). Currently it's at $.18. These last couple days I tried Ether (ETH) I'm up to $.07!   ;D There is Ether (ETH) and Ether classic (ETC) , so pay attention to that when you start mining.

For now my plan is to stick with the "smart mining".  I don't have any way to know how this is affecting my electric bill.  I use my laptop for my dayjob so it has to get charged up either way.  I know nothing about this Monero currency but I also haven't invested any money into this (save for electricity).

If you want to see the current price for different currencies go to http://price.exchange/

One final thing.  There is a currency balance, then an unconfirmed balance.  So far it was just a waiting game for the unconfirmed balance to be added to the currency balance.  We are  talking about very small amounts of money right now and currencies I know nothing about, but if your boss let's you install it on the computer at work, go for it.   :)

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Offline Ralph

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Re: Has anyone signed up for Mingergate?
« Reply #8 on: July 04, 2017, 12:07:44 PM »
Ive been running minergate for a week plus, maybe 10 hours if that much per day. I adjusted the number of cores so the cpu wasnt running 100%. I managed to get 2+ dashcoin (took a while to figure it wasnt DASH), and some Monero. I went into this to get enough of a coin to play with for learning. So far I havent transfered anything out of minergate into a wallet, most of the failed attempts due to the dashcoin/ dash misunderstanding on my part. My laptop runs around 40 hashes, and at that  'speed'  I am generating more heat than coins. Still, I went into this to finally get off my butt and start learning cryptocurrency first hand. I downloaded a dashcoin wallet to install so I can do some transfers. Eventually I want to convert between coin types, move coins into a paper wallet, and finally buy some coins. That brings up a question. I was looking into Wall of Coins for a possible future coin purchase. Has anyone used them?  I may have missed it, but a quick search of the forum didnt turn up anything.

Minergate may be profitable with a far more powerful machine than mine, but for me it is a way to learn with little if anything to loose.  It was easy and fast to install which was a good thing when starting out.

Offline Captain Obvious

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Re: Has anyone signed up for Mingergate?
« Reply #9 on: July 06, 2017, 08:03:02 AM »
UPDATE:
So it's been 2 weeks and I'm exclusively mining Monero (XMR).  As of now 1 Monero is worth 0.01847079 Bitcoin or $47.75 USD.

 I have .02355 Monero which is currently worth $1.12 USD. 

So is it worth it?  I'm sure I have used at least $1.12 in electricity thus far but I use my laptop all day anyway since I do web development.  When I'm not using a lot of computer resources I raise the Minergate setting so the computer does more mining.  I wish I knew more about the various cryptocurrencies but I didn't start doing this to strike it rich.  I plan to continue mining because it requires literally no effort on my part other than to ensure the computer is on.  Would it be easier to just buy some coins and hold them?  Probably. 
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Offline fritz_monroe

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Re: Has anyone signed up for Mingergate?
« Reply #10 on: July 11, 2017, 03:43:40 PM »
Thanks for the updates, guys.  Keep them coming.  I'm sure that others will be using your experiences to learn.
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Offline Ralph

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Re: Has anyone signed up for Mingergate?
« Reply #11 on: September 20, 2017, 11:28:23 AM »
It took a while on my slow laptop but I was able to mine a couple Dashcoin on Minergate. At least on my machine mining does not seem to be worthwhile. I did not sign up to Minergate to make money, my mission of trying to mine and get a couple coins to play with is accomplished. Having a couple Dashcoin on Minergate and then having to wait while the fork issues got resolved, I downloaded a Dashcoin GUI wallet into my Windows 10 machine, and after a few days of intermittent syncing my PC based wallet was good to go. I transferred a small amount from Minergate and a couple minutes later it was confirmed on my laptop. I transferred my remaining Dashcoin.

I should mention I also went the command line route (Dashcoind) and it also took days to download the entire blockchain. So far I haven't been able to try my next step- creating a paper wallet and transferring in and out of it. The issue is I haven't been able to find a paper wallet program for Dashcoin. There are plenty of them for Bitcoin and a host of other cryptos but I haven't found one for Dashcoin. If anyone knows where I can download a Windows version of a paper wallet for Dashcoin please let me know. I found a nice generator that works within a browser but it doesnt work with Dashcoin.

Here are my thoughts, but keep in mind I am using a slow I5 laptop. Mining for profit is not a reality. The Dashcoin GUI wallet takes a VERY long time to load the blockchain before it opens and it leaves a window open in the middle of the screen which cannot be moved or minimized until the sync update is done. Using Dashcoind (command line) took a long time initially to sync, but once it did the sync updates were pretty quick. I did not try the 'simplewallet' (command line), but that will probably be much quicker opening than the GUI wallet. Once I move my Dashcoin in and out of a paper wallet I will put my Dashcoin (all 2.4 coins worth) back into the paper wallet and abandon Dashcoin. I downloaded a DASH GUI PC wallet which opens pretty quick once it done the initial sync, and am thinking DASH will be my next adventure. Minergate was a good way to get started, mining a couple Dashcoin which allowed me to actually mine and move my coins around instead of just reading about it. With a faster machine than mine it may be worth mining, and Minergate is worth looking into. There may be better mining opportunities out there, but Minergate was a pretty easy way to get started.

If anyone knows of a Dashcoing paper wallet generator for Windows please post a link here, thanks.

Offline fritz_monroe

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Re: Has anyone signed up for Mingergate?
« Reply #12 on: September 20, 2017, 06:06:06 PM »
Thanks for the update.
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Offline Ralph

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Re: Has anyone signed up for Mingergate?
« Reply #13 on: September 24, 2017, 01:21:42 PM »
Heres  something I just discovered. I was running Minergate on my Windows 10 laptop. I started a manual virus scan with Panda and minergate was flagged and removed from my machine. I reinstalled minergate, scanned, it was removed again. I reinstalled minergate. After installing the free version of Malwarebytes. Its scan pulled up more than a full screen of malware all in minergate files. Interestingly the malware flagged mostly had bitcoin in it's name, no other coins were named.

The above was enough to convince me to deinstall minergate, my virus scans now run clean. I would suggest anyone with minergate installed on Windows (probably any OS) update your virus software and manually start a full system virus scan. I may have gotten false warnings from 2 different virus scanners, but I would rather play it safe. Believing Malwarebytes it appears Bitcoin is targeted, but why take a chance with the other coins? If anyone runs a full system scan with updated virus definitions please post the results. It is possible minergate's software, or the site is compromised.

Offline jerseyboy

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Re: Has anyone signed up for Mingergate?
« Reply #14 on: September 24, 2017, 01:46:43 PM »
Weird about Minergate and viruses. Thanks for tracking that down.  To mine most crypto you need a discrete GPU.  Most optimized mining will pay for the graphics card in 6 months or less depending on your electricity cost.  AMD usually leads the way in GPU core count but the nvidia 10x0 series are significantly better than the older cards and held the lead until a few weeks ago when AMD released the Vega64 at 4096 cores. That said, if you use Linux, you should use nvidia as AMD has been notoriously bad about drivers for Linux.

Check out http://www.whattomine.com/

The best thing to mine changes every day.

Remember, crypto is speculative, you could be making money today and losing money tomorrow.

Also, you can mine into your Minergate wallet using ccminer or shiner at the command line using their stratum address if you don't like their software.

Good luck
Jerseyboy


Offline Ralph

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Re: Has anyone signed up for Mingergate?
« Reply #15 on: September 26, 2017, 10:16:22 AM »
My laptop is not up to mining, maybe next machine. I started listening to some PC security podcasts which got me wondering about computer security (hacking and malware) and mining. There is a malware which just sits in your machine and watches your clipboard. When it sees a bitcoin address it redirects the transaction and your coin is gone. It makes sense bitcoin would be the biggest target being as popular and expensive as it is. Apparently the internet is constantly being scanned for computers with vulnerabilities to exploit, so keeping software updated and scanning for viruses is a must. I've been listening to the Security Now podcast, they have a great episode on making really secure passwords and episodes on the latest threats. I've been learning a lot there.

Offline alan123

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Re: Has anyone signed up for Mingergate?
« Reply #16 on: September 26, 2017, 05:10:29 PM »
I heard something interesting on a macro investing podcast. The big boy miners are setting up operations in Iceland. Cheap electricity and cool temps cut down on their operations cost.
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