Home Mining Setups For Decred

Discussion in 'Rigs' started by LastNinja, Jan 1, 2016.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. LastNinja

    LastNinja Full Member

    Dec 31, 2015
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    Since Bitcoin has headed into a very wrong direction in recent years, becoming a perversion of its initial goals, I do hope that the Decred community will avoid duplicating these mistakes from the Bitcoin ecosystem. One such thing is the centralisation of mining power. Instead of Visa/Mastercard/Paypal controlling our payments we have now a handful of industrial mining farm owners grouped together within one jurisdiction that control our "Peer-to-Peer Electronic Cash system".

    While it might be too early at this point in time to think about how to prevent industrial mining farms for Decred, I would like to start this thread and ask for recommendations for low-cost mining setups that people in the Decred community can run from home. Obviously such a setup would allow them to initially mine individually and then, once pools become available, mine within pools and be able to join and leave them as they want, for example if a pool gets too much share in the total hashrate.

    Please post your views on home mining setups along with your preferred components. If you've used your setup to mine other coins in the past, maybe you could also share the power consumption and an estimate of the expected hashrate it will possibly give for Decred (14 rounds of Blake-256).
     
  2. smallfount

    smallfount New Member

    Dec 29, 2015
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    I hope this idea is good.
    But for tech point of view, the resource which be deployed at home will must be more easier for those industrial mining pool, this means when we are make the requirement lower for mining, we also make the industrial mining easier at the hardware level.
    So if we can thinking from the logical to make the efficient growth lower even using a very big scale of hardware.
     
  3. Anarki

    Anarki Jr. Member

    Dec 31, 2015
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    This is the one part I fear, when it crosses to the point where home based mining is not woth it.
    Quoting one of bitcions current flaws;
    https://en.wikipedia.org/wiki/Bitcoin#Practicalities
    "The rewards of mining have led to ever-more-specialized technology being utilized. The most efficient mining hardware makes use of custom designed application-specific integrated circuits, which outperform general purpose CPUs while using less power. As of 2015, a miner who is not using purpose-built hardware is unlikely to earn enough to cover the cost of the electricity used in their efforts, even if they are a member of a pool."
     
  4. Freedom2Choose

    Freedom2Choose Full Member
    Designer

    Dec 17, 2015
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    I mined bitcoin back in 2012 on home rigs and litecoin when it came out. I ran rigs with between 3 to 6 6990s, 7990s, or R9 290s. The litterally drank power and each rig could heat 900 square feet in -20 degree temps. If I were to recommend a setup I would say to use 2 of the cards that net the best hash/watt. Im not sure which cards are going to be best for decred (I think the best mining software they have set up for it currently will be for the AMD cards, correct me if I am wrong).

    You will likely spend hours tweeking setups to get the most out of your rigs. I can remember spending 3+ hours per day for a few weeks when I first got them setup just tweeking the mining settings and well as oc/uc settings.

    On a side note I do belive that FPGAs can and will be adapted for blake 14 which is the stepping stone between mining with GPUs and ASICs.
     
  5. anvoice

    anvoice Member

    Dec 22, 2015
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    It's not possible to stop the advent of PoW concentration, not if it's profitable. Good news is it can only happen if Decred is highly successful, at least as much as LTC. If that happens though, the only way to "stop" centralization in pure PoW is to have massive adoption of mining specifically, which is difficult. Fortunately, in Decred there's PoW to help mitigate it at least somewhat.
     
  6. mechanical

    mechanical New Member

    Dec 28, 2015
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    Not sure if home mining is profitable, since pools will be ready at launch with tons of rented hashrate on it.
    Ethereum for example was great cause at first only home miners were able to mine, since pools coming out days ago,letting home miners got some chances before the pools storm.
     
    44blox likes this.
  7. badani

    badani New Member

    Dec 31, 2015
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    India
    Home mining is going to be profitable, specially in the early months till some large groups with huge amounts of power start mining decred.it all depends on how famous/usable the decred currency becomes over time. If it is going to defeat BTC, it has to attract those big miners. So, the currency future depends on how many miners are ready to invest and take the gamble. A lot number of pump and dump coins exist in the market.But i think decred is not a pump and dump coin. I see that decred could go a lot ahead in future, id the developers and community support each other.
     
    highlonesome, Rune S and kirigi like this.
  8. anvoice

    anvoice Member

    Dec 22, 2015
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    I believe mining is secondary in any case. The primary goal is to create a decentralized yet efficient medium of exchange: something this project is aiming to do.
     
    highlonesome likes this.
  9. LastNinja

    LastNinja Full Member

    Dec 31, 2015
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    A medium of currency exchange and issuance for which mining is the prerequisite.
     
  10. sambiohazard

    sambiohazard Sr. Member

    Jan 21, 2016
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    I think best thing for anyone who wants decentralization is to add a 750ti to their existing computer. It has atmost 60W power consumption, it generates almost no heat, i haven't seen temps above 65C even in worst ambient temp of high 30s in celsius.

    Also this mining decentralization depends a lot on community. If a coin community is really dedicated only then this would be possible. I have argued in the past that why do people think of mining as something done for "monetary" profit. People have often told me that no one has incentive to run small miners as it would not cover even the cost of electricity. I would propose such people to shift their perspective and think about this.

    Would you be willing to pay/donate $x/month to have a worldwide payment method that is decentralized, provides financial privacy, avoids censorship, and is a good long term investment? I can certainly see an incentive their if you are not thinking short term. You should think of this project as a service which depends on you to keep its most important & basic virtues. I have written in the past about this here.
     
    Lee Sharp likes this.
  11. highlonesome

    highlonesome Member
    Designer

    Jan 11, 2016
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    Hopefully a lot of people will take advantage of the PoS mining, too. I plan to. Mainly cause my video card is pretty bad for PoW. :D

    But yeah, Decred being so focused on community is what attracted me to it. Mining is important, obviously, but the community here seems to set it apart.

     
  12. sambiohazard

    sambiohazard Sr. Member

    Jan 21, 2016
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    Just saw this thread. Such groups can be used alongside p2pool to create a strong decentralization effect for "hashrate donators" (This could be a label on the forums). To read about my thoughts on p2pool please do read this. I hope this is not seen as shilling/spamming. I think my articles are relevant so i am linking to them. :)
     
  13. Lee Sharp

    Lee Sharp Sr. Member

    Dec 28, 2015
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    Independent Consultant
    Houston, Texas
    Well, it started as a private conversation before it got added to it's own group. :)

    But yes, local groups can be powerful. In some cases, it may be a local person has extra office space where power is not metered... That would sure make a difference in your local mining pool!
     
    sambiohazard likes this.

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