RE: First KOIN Mining Drama Survived | Community back to Normal
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What would crypto be like without the drama? Haha! I stopped mining for a few days as, like you, my CPU was getting shredded (hopefully get a new one on Monday or next week), definitely making some painful noises and that smell of hot dust... lovely! New fragrance, I should bottle that - eau de KOINOS :D
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Hahaha, dust fragrance :) May do very well for all those whole love computers, but dont have any idea how to max their CPUs :) Even with a new computer, with eg 20MH/s hashrate, I wonder if mining is profitable on the short term. Buying at Uniswap at the dips maybe more cheap. Everybody seems to forget about energy consumption. I think in best case I was spending 1 Euro/day on energy and worst case almost 2 Euro/day. ETH fees are also d*mn expensive this week, up to 8$ per transaction. Last week and weekend it was more like 70$ct to 1,5$.
Haha, I think we have found our target market there then for the Dust Fragrance 😆
Well, I know @gribbles is running the miner, getting about 10MH/s and receiving 200 ish KOIN per day but like you say, the gas fees and the low price of KOIN might make it better and less energy consuming to buy it on Uniswap (if you know how to)!
Just for completeness, I'm on 1/day PF. I was considering stopping as I could see the value dropping, but then this happened:
So the value is creeping up, and I've just been lucky that my miner found some blocks in pretty quick succession. The gas fee went daft for a moment (to the extent that a tx failes even with a funding balance of .037 ETH), but has settled to around 0.004ish.
Dunno - as this was my first real foray into mining I didn't invest more than I could bear to lose. So I'm tempted just to let it all run until the funding wallet is dry (I've set my 2 1.4MH/s laptops to a PF of 1/week, just for giggles)
But if the mining on the 10MH/s box keeps heading in the direction it's taken in the last day, I may consider a cheeky little top up.
I've also had the discord on in the background for the last few days - mainly to try to pick up tips & info to get my head round the mining and stuff. So it's been fascinating to watch the dramas unfold (and I have also learnt stuff as well!)
Ok fine, I'll fire up the Dust Fragrance generator and burn off any ETH I have left in the miner running at 1 per day and see what happens. I did have a KOIN fund of 0.2 ETH which was just left sitting around so will see what happens. Koin will need to hit $0.50 for me to get the money back to buy a new processor though 😂
Haha! You'll thank me in a few months when the KOIN is transferred to the new blockchain and just selling 1 will buy you a new proc 🤣
I will say that the thing that has probably jumped out at me the most id the sheer randomness of the mining. I've been lucky in the last 24 hours.
You may be unlucky and simply and create more Parfum du Dust....
Haha, that would be the dream mate! I did give it a quick blast earlier for a few hours but nothing doing except a nice warm room with that patented fragrance - wonder if Hugo Boss will bottle it?
The 0,2ETH may become too small an amount for proof submission, the GUI miner reserves a whole lot more ETH than needed for the TX. If you like to get to low ETH tx costs, you may try this weekend. Last weekend it went down to 70$ct costs whilst in the first days of the week it was more close to 8$. I suppose, less transactions in the weekend. Earlier this week, I suppose more ETH tx due to rise of BTC.
Ah - that's a useful observation.
That's another thing I like about this - still learning! :)
wrt ETH fees, check eg coingecko or etherscan, at both on top you see GWEI costs, the level of GWEI tells something about the ETH costs being at low or high end. Not sure if GWEI and ETH costs are linear related, but what I've seen is with low GWEI, ETH tx costs are also low :) Maybe some better service available somewhere on the internet that show current GWEI + ETH transaction costs...
wait
here is one: https://bitinfocharts.com/comparison/ethereum-transactionfees.html
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Useful info again 🙂👍
Thanks!
You're welcome :)
Yea the proofs and its randomness. 2 and 3rd day of mining, I got nothing, then suddenly a few hits close to each other while proof at 1/day. Day 5 or something was again nothing. So hits come in waves :) I was reading from others the amount of KOIN per proof is increasing last few days. ETH: you'll not be able to drain your ETH balance completely with proofs, for each proof transaction, the GUI miner reserves a whole lot more ETH than the actual costs. At some point in time had a ETH TX error due to insufficient funds, when I had something like 0,2 or even 0,3 ETH.
1/week proof: interesting to see the outcome of that.
I'll let you know what they do.
I'm not expecting anything shocking - they are low MH/s machines, after all...
Uniswap is not difficult; You have an Ethereum address? eg MEW? Or MetaMask?
Get yourself Metamask
Connect Uniswap to Metamask
Goto KOIN/ETH pair at Uniswap
Buy KOIN
Links in this link at the bottom of the post.
Yeah I have all those things and a Ledger too! Thanks for the link, I'll book mark it so can try it out over the weekend!
Ok, so I tried this and can't seem to find the KOIN/ETH pair when I search for KOIN on Uniswap:
Yea, KOIN is not in the top list.
Go to this page: https://info.uniswap.org/tokens
Then search on KOIN in the search box at top right corner.
Or click this one: https://info.uniswap.org/pair/0x3e9b04c0a11fc801335b0c436a3ae3dea0dc2188
For status of the pool and buy/sell orders and even the initiation of a buy/sell order, I use Astrotool. I like that UI much better. A buy/sell order is procesed through Uniswap btw, ie Astrotools is just a frontend to Uniswap. https://app.astrotools.io/pair-explorer/0x3e9b04c0a11fc801335b0c436a3ae3dea0dc2188