If you mine privacy coins what do your prefer?

[philipma1957]

I mine grin.  My reason is simple I got a few low power low priced units around 20 months ago So I simple mine them and hodl the grin.

Power cost is under 1 dollar a day to mine them.

I have more than 12,000 grin which was over 1,000 bucks but has dropped to  around 700 usd.

The dropped occurred when monero got dropped by binance.

I have some fear about mining on a big scale because if I had 1,000,000 grind and it went to a dollar I think it could be very hard to cash it out.

[paid2]

I personnaly voted for Monero, as I already own some good CPUs perfect for RandomX hashing.
Monero is the only coin I would still mine even at a loss, because I want to support the network.

I have some fear about mining on a big scale because if I had 1,000,000 grind and it went to a dollar I think it could be very hard to cash it out.

Why? You could just swap them for any stablecoin and thus cash it out slowly, nope?
I know that you are an American citizen, so I can imagine IRS is not as cool as where I live, so sorry if my suggestion sounds maybe naive to you lol.

[ABCbits]

None, mainly due to high electricity rate on place where i live which make ROI impossible. Although if i were to buy new PC or laptop (with efficient CPU), i might configure Monero GUI wallet[1] to start on boot (which have built-in mining on P2Pool) using few cores.

[1] https://www.getmonero.org/downloads/#gui

[paid2]

None, mainly due to high electricity rate on place where i live which make ROI impossible. Although if i were to buy new PC or laptop (with efficient CPU), i might configure Monero GUI wallet[1] to start on boot (which have built-in mining on P2Pool) using few cores.

[1] https://www.getmonero.org/downloads/#gui

This is the right way!

I take this opportunity to advise those who want to buy a CPU to mine XMR, to regularly look at the "engineering sample CPU" on Chinese marketplaces, there are sometimes excellent deals available!

[ABCbits]

I take this opportunity to advise those who want to buy a CPU to mine XMR, to regularly look at the "engineering sample CPU" on Chinese marketplaces, there are sometimes excellent deals available!

Aside from legal concern, i doubt it's good idea when we don't know quality or stability of such CPU. Do you have any experience using such CPU?

[paid2]

Aside from legal concern, i doubt it's good idea when we don't know quality or stability of such CPU. Do you have any experience using such CPU?

Not at industrial scale of course, but I still use a dozen of them which were ordered through my company, and to be honest I never had a single issue with them for now. Of course I keep all my CPUs well cooled, I guess it helps to keep them stable. 

[Rex067]

I mine grin.  My reason is simple I got a few low power low priced units around 20 months ago So I simple mine them and hodl the grin.

Power cost is under 1 dollar a day to mine them.

I have more than 12,000 grin which was over 1,000 bucks but has dropped to  around 700 usd.

The dropped occurred when monero got dropped by binance.

I have some fear about mining on a big scale because if I had 1,000,000 grind and it went to a dollar I think it could be very hard to cash it out.

Monero is the coin I will continue to mine, I have some stored and I will continue to mine more I believe it has a great potential

[hugeblack]

Are there good privacy coin options? Other than Monero and Grin, what are the alternatives to privacy coins? dash and zcash are not currencies that are worth mining, and instead of wasting your time mining, it would be more appropriate to buy them. As for the rest of the cryptocurrencies that claim to provide privacy, they provide questionable privacy.

[paid2]

Are there good privacy coin options? Other than Monero and Grin, what are the alternatives to privacy coins? dash and zcash are not currencies that are worth mining, and instead of wasting your time mining, it would be more appropriate to buy them. As for the rest of the cryptocurrencies that claim to provide privacy, they provide questionable privacy.

I agree, it's going to be difficult for a project to get a foothold in the privacy coins market when XMR is already perfectly suited to the demand in this field. Every privacy coin project I've seen has either failed the audits, been a scam or simply died since... I've heard a lot of good things about SCRT recently but I haven't taken the time to look into it yet, in any case it's PoS so irrelevant to this topic.

[philipma1957]

Monero or grin are okay to mmine I am up to 15000 grin last I look they are worth 1200. I AM JUST A bit ahead on them.

[hugeblack]

Have you heard of SUNWUKONG? It's a promising project with strong privacy features. You can buy it on BingX before it's officially listed.

Seriously? A privacy coin that is sold before listing? This means that there is a party controlling the issuance of the coins which means it is centralized which contradicts the strong privacy features.

[NotATether]

I think there are some automated exchanges where you can sell your Grin to buy another privacy coin like Monero and maybe even Bitcoin too. So that shouldn't be a problem.

Monero is easy to do on CPUs, so the barrier of entry to mining it is low. That being said, it's not really profitable unless you somehow had a lot of CPUs to mine with.

[MUGNIA]

There is nothing I mine from me knowing crypto, whether I do it or not so far there is no activity of mine to mine coins that are definitely worth grin as you said, because honestly I do not understand how to start the basics of mining coins that have value

[MrSpasybo]

There is nothing I mine from me knowing crypto, whether I do it or not so far there is no activity of mine to mine coins that are definitely worth grin as you said, because honestly I do not understand how to start the basics of mining coins that have value

Purchasing and setting up a coin mining system typically requires a significant amount of skill and financial resources. I don't think I'm ready for such a large investment to mine privacy coins. If I had the money and ability, I would only mine BTC because I believe in BTC's potential. Privacy coins are no longer on my investment radar ^^

You can try out crypto mining through some applications directly on your PC like MineGate. I've installed it before, but the earnings were insignificant compared to the electricity costs and hardware wear and tear. If I'm not mistaken, in automatic mode, MineGate always chooses XMR to mine based on maximum profit.

[enoch_from_off]

There is nothing I mine from me knowing crypto, whether I do it or not so far there is no activity of mine to mine coins that are definitely worth grin as you said, because honestly I do not understand how to start the basics of mining coins that have value

Purchasing and setting up a coin mining system typically requires a significant amount of skill and financial resources. I don't think I'm ready for such a large investment to mine privacy coins. If I had the money and ability, I would only mine BTC because I believe in BTC's potential. Privacy coins are no longer on my investment radar ^^

You can try out crypto mining through some applications directly on your PC like MineGate. I've installed it before, but the earnings were insignificant compared to the electricity costs and hardware wear and tear. If I'm not mistaken, in automatic mode, MineGate always chooses XMR to mine based on maximum profit.

From what I've heard in the past, only those with good electricity conditions (who would trade something else for it or have so much of it bought that it would be beneficial to mine something to get some profit) would benefit nowadays from mining.
Thanks for a little inside, as I too didn't mine anything on my mind, due to what I described. Maybe it would be worth it in the past, but nowadays, it's unlikely.