Hello everyone! Im new in this forum. Got here from the Monerica video. I am from Norway and have been mining monero for little over a month so far so good, have mined 0.09 xmr. I have been mining on the supportxmr pool but people say its bad pool what pool should I switch to then? Sorry for my bad english language.
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How is your electricity cost vs monero mined?
Sorry I dunno anything about pools ;3;
But I hear about this a lot:
https://github.com/SChernykh/p2pool#pool-mining-vs-solo-mining-vs-p2pool-mining
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@NorwayMiner SupportXMR is bad because its the biggest pool which doesn't help network decentralization. Personally I use Hashvault right now, yes i know its like 3rd/4th biggest pool anyway but currently they have 0% pool fee so gotta mine there while it lasts afterwards I will change to bohemianpool or tallhatdoug cause they have just 0.3% pool fee and they are small pools which will help network decentralization. I would recommend you to change too.
@avarice my electricity price is around 0.2 usd per kwh but it changes all the time and i might got it wrong due to conversion. I never actually checked how much electricity my pc uses but the bill for electricity is bigger than value of monero that i mine but i dont mine for profit
@coolminer why would i need to change if supportxmr works i mine and decentralize network. okay hashvault is better with 0% but how long will that last? till tommorow? the smaller pools have long payout time it doesnt make sense to me from 0.6% to 0.3% but long payout.
@NorwayMiner One pool having a large portion of the hash power risks a 51% attack, where the owner of that pool can decide to become malicious (or can get hacked) and potentially gain significant control over the network, and the ability to do things such as censoring or reversing transactions.
It's not that I don't think SupportXMR can't be trusted, but it's better to avoid trusting anyone with such a massive amount of control, especially when it's not needed.
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@NorwayMiner No you are simply wrong about you decentralizing the network because you are mining to a centralized pool which means you centralize the network.