Hey, can you help? I've been mining XMG using my core i7 on MacOS 10.12.6 but I'm not getting anything more than 0.05000 XMG per day running at 8 threads and 80% of CPU usage. My pool is MinerClaim. I've not tried solo mining with my wallet yet. I'm really surprised you're getting 10-20 XMG per day. Any tips? What program should I be using? TIA.
It all depends on the current block reward for the Magi network. The more hashrate there is on the network, the lower the reward will be. As such, you will need to use the least cores possible, as adding more cores will greatly reduce the reward you're going to get. Magi works this way to prevent big miners with high-end equipment to take advantage of the rewards. Therefore, if all people mining on the XMG network would use the least amount of hashrate possible, then rewards will be better. You're going to need to check regularly the network's stats to see current block reward and mine some XMG with 1 to 2 cores only. I've done this and it has worked so far.
I once tried to CPU mine on an otherwise pretty much unused dedicated server at a hosting center, but there just was no point at all because even with not paying for power yourself, it just doesn't generate mentionable profit. I'm currently looking into GPU mining but would definitely not consider any CPU mining anymore, not even if you have the hardware already laying around and you don't pay for power yourself.
Yeah. Mining with a CPU is not as good as it used to be in the early days of cryptocurrencies. With a GPU, you could get better results, but not everyone has access to high-end GPUs. As such, I believe that CPU mining is more accessible as it allows nearly anyone to get started in the mining process. This model makes it much more decentralized as everyone can participate in the process (unlike GPUs and ASICs).
Nevertheless, while CPU mining is not profitable anymore, it is still a fun process to do with your PC. My most favorite CPU mineable coins are HODL and XMG as they provide the ability to easily mine a few coins with them, and multiply your earnings by just holding your balances into your wallet.
