Post
Topic
Board Altcoin Discussion
Re: Beginners Guide to CPU mining DogeCoins - Now with images!
by
cainy393
on 14/02/2014, 12:02:30 UTC
Wow. End this thread. You must explain the risk to the computer...

Many of these Doge miners are younger, and newer to the crypto world. Note the guy above who says his 40 doge coins hes mining could be worth 10$ in the future, so "yeh 400$ a day is worth it."

The energy and declining hardware costs are huge. 40 Doges a day, even at a short term miracle price of 1 cent/doge (10x current market cap, and would require Doge to be receiving more NEW invested money per day than BTC currently is) isn't worth it. Not even close.

Once Doge is more valuable than BTC (thats an if), not only will it be harder to get as many Doges per day with your CPU, but it will finally almost be worth it to mine with your CPU.

I'm not the biggest fan of Memorycoin and I agree with the guy above^. Mine it, sell it, buy your favorite crypto or hold BTC.
You're right that it is not exactly viable to mine doge using your CPU anymore. However when this post was written it was worth it and the post stands as example of sorts. Plus this technique can be applied to any Scrypt algorithm alt-coin in practice and so is still of use.

Newbie here just wondering If you could advise me If I am doing the right thing or is there no point continuing with this pool/mining.

http://i.imgur.com/MYW0Vjv.jpg
That's absolutley fine, the little (yay!!!) things mean that your share was accepted. Therefore everything is working fine. You may get the occasional (boooo) but so long as it isn't every time that's fine. You are unlikely to make a lot of profit from that kind of hashing power it is still a novelty as I keep saying.