Koinos Mining - a new way of mining! by jedigeiss

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koinos · @jedigeiss · Oct 16 '20

$10.75

Koinos Mining - a new way of mining!

![Koinos.png](https://images.hive.blog/DQmNRtmMs6MpnJgNtPKFWhFhrbFN6TnJiUwx5WmD4xegqJG/Koinos.png)


Hi, all of you,

I know that quite a lot of you started mining a new cryptocurrency called [Koinos](http://koinos.io) and I also could not resist the urge to throw in some mining capability by myself.


## What is Koinos ? 
A new project trying to have a go at cryptocurrency out of a different angle. Oh and you also might know some of the team members already, @andrarchy and @vandenberg and others have been part of the original Steemit Inc before the acquisition from Justin Sun.
I don't want to go into technical details, you can find the whitepaper [here](https://uploads-ssl.webflow.com/5f184607b3d6084de11916a3/5f824859dc86b578555327a4_whitepaper-part-1.pdf) if you are interested to have a go at it.
In the end, they are trying to come up with a different distribution method than other currencies, but in the end it is also basing on the CPU power of your machine.

## Mining
Currently, they have two mining possibilities to be used, one being a GUI miner and the other a CLI version. Since the machine I will install this on is running under Win10 I downloaded the GUI version and after setting up ETH addresses and funding one of the addresses with a little ETH ( for the transfer prices, what a nice world we have here on HIVE ) I was ready to go.

My Ryzen 9 3950x is running at around 19,5 MH/s, I have not installed it on other machines yet but I will try to do so to get a better overview of MH per different machine.

## Results
None so far, but since I chose quite a low frequency ( you can choose the frequency that you would like to be mining some koins, this will influence the difficulty then ) this is not really unforeseen. 
I will write some updates once I have gotten paid ;)

## Is it worth it?
I do not really have a clue, like in most crypto projects it is a risk that you need to calculate. In the end I am only using a CPU I already had before and the electricity to have it running plus a few pieces of ETH to pay the transactions. That is quite a low investment.
On the plus side are for me the people that are running this project, they have proven in the past to be able to start and run a successful blockchain project, now I am really curious to see what plans they got to evolve this.
Go for it guys!


Yours

Jan

👍 twinner, jaki01, davidorcamuriel, oliverschmid, redpalestino, condeas, schamangerbert, jedigeiss, louis88, stayoutoftherz, germansailor, techslut, satren, ctime, backinblackdevil, kobold-djawa, andyjaypowell, hope-on-fire, mima2606, followbtcnews, sbi8, toofasteddie, schlees, dotwin1981, irgendwo, kiel91, cervisia, bitandi, dylanhobalart, quekery, dreimaldad, leroy.linientreu, crimsonclad, kaeptn-iglo, hiq, sabine-reichert, stuntman.mike, muelli, melvin7, mary-me, samujaeger, modernpastor, sparschwein, hiq.redaktion, curationvoter, northmen, caro-art, ravenruis, cryptoriddler, dachcolony, clayboyn, curationhelper, bigdizzle91, schlunior, smooms, blarchive, meins0815, thedevilsbride, actifit-devil, rebeccaontheroof, freiheit50, kaldewei, gameexx, helpyou, and 43 others

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properties (23)vote details (107)

voter	rshares	pct
redpalestino	2,996,751,385,608	100%
twinner	8,332,676,318,362	100%
germansailor	636,100,393,265	100%
sabine-reichert	49,832,211,870	100%
anarcist69	1,503,885,523	4%
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r0nd0n	4,968,886,159	4%
dylanhobalart	91,981,473,827	21%
techslut	566,287,012,065	100%
freiheit50	8,929,481,528	99%
webhoster	950,336,183	100%
jaki01	7,708,888,790,413	100%
kobold-djawa	328,018,981,852	100%
schamangerbert	1,320,296,473,792	100%
davidorcamuriel	5,285,591,989,278	100%
sokha	6,409,539,104	50%
leroy.linientreu	89,414,535,625	100%
andyjaypowell	302,862,478,509	100%
schlees	120,759,503,994	33%
yeaho	1,329,683,282	33%
followbtcnews	229,031,213,615	8%
cryptoriddler	21,964,712,357	50%
jochenpaul	5,281,221,390	100%
crimsonclad	82,850,703,925	8%
roxane	538,207,335	50%
toofasteddie	143,079,072,081	34%
hope-on-fire	278,674,263,466	26%
stayoutoftherz	737,999,334,244	20%
sharelovenothate	683,775,912	33%
ctf	1,456,394,571	50%
modernpastor	40,879,456,611	50%
jedigeiss	1,197,890,124,174	100%
rmp	1,778,829,614	50%
bigdizzle91	18,636,242,534	100%
quekery	89,581,651,763	50%
ravenruis	23,019,071,848	75%
cervisia	98,956,813,464	40%
smooms	18,120,805,213	50%
rebeccaontheroof	9,038,944,812	100%
tinoschloegl	3,367,972,398	100%
oliverschmid	4,217,201,970,328	100%
vaansteam	1,330,367,432	30%
srikandi	938,072,341	100%
maxpatternman	970,726,285	33%
mindscapephotos	907,926,956	100%
condeas	1,736,950,285,352	68%
irgendwo	101,307,949,237	100%
melvin7	46,550,275,435	100%
akifane	3,752,383,955	100%
backinblackdevil	356,492,023,650	75%
satren	483,409,918,982	100%
mima2606	259,949,603,713	60%
dotwin1981	118,501,276,164	33%
louis88	1,142,201,344,976	75%
makney	4,358,368,018	100%
mary-me	45,973,692,192	50%
dreimaldad	89,541,175,658	40%
bukfast	1,364,979,278	100%
thedevilsbride	10,347,417,103	50%
yaraha	6,207,634,592	33%
meins0815	12,803,792,932	23%
jasuly	1,081,172,230	100%
crimo	712,660,083	11.5%
helpyou	6,647,767,107	100%
muelli	47,880,497,124	50%
bitandi	94,472,496,460	50%
wolfguards	5,081,126,859	100%
bitt.nerd	2,541,337,549	100%
schlunior	18,563,314,784	33%
elmauza	1,171,668,345	100%
gameexx	6,846,350,942	70%
paololuffy91	912,487,459	20%
sbi8	176,479,349,865	80.52%
gamer0815	1,618,401,685	33%
blarchive	14,166,445,238	8%
linuxbot	655,494,993	100%
kiel91	99,997,730,077	50%
kaldewei	8,423,932,729	33%
northmen	23,815,134,925	50%
monster.oo7	1,570,137,411	100%
ctime	439,982,167,175	2.5%
curationvoter	24,997,519,471	50%
curationhelper	18,834,157,392	100%
cooperfelix	1,894,383,668	20%
sophieandhenrik	4,033,591,169	100%
steem-queen	1,839,982,629	100%
wallvater	2,102,131,389	33%
actifit-devil	10,183,217,552	100%
samujaeger	44,547,810,571	100%
moritzjaeger	693,870,029	50%
spicywoman	1,194,533,755	100%
sparschwein	40,716,649,326	100%
caro-art	23,521,073,040	50%
dachcolony	21,785,124,019	90%
kaeptn-iglo	72,168,281,377	50%
querdenker	494,887,845	46%
tingtong	3,197,469,327	100%
sbi-tokens	969,171,798	3.1%
mister.reatard	4,174,660,014	50%
mvanhauten	2,290,644,202	33%
bitt.bot	0	100%
euc	4,054,008,948	19%
stuntman.mike	48,777,655,978	100%
hiq	56,003,343,041	50%
azar0307	595,447,012	33%
vibrasphere	2,011,773,328	33%
hiq.redaktion	30,700,318,941	50%

@jaki01 · Oct 16 '20

$0.06

> Go for it guys!

I won't, but good luck! :)

👍 reiseamateur

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@schlafhacking · Oct 16 '20

$0.11

Und PoW Mining für einen ERC20 shittoken? och, nee, wirklich nicht. Das finde ich weder innovativ noch nützlich noch notwendig, pure Energieverschwendung. Die ETH Blockchain drunter ist doch eh PoW. Und wieso überhaupt ETH-based? Wieso nicht gleich das Mainnet launchen und DANN minen lassen? :)
Hab das Whitepaper überflogen. Es überzeugt mich überhaupt nicht. Es bleiben mehr Fragen offen als Antworten gegeben werden. Die wichtigste offene Frage ist: warum sollte man sich das antun und Energie UND ETH verschwenden? :D

👍 condeas, stuntman.mike, atego, linuxbot

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properties (23)vote details (4)

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@schlafhacking · Oct 16 '20

jetzt hab ich die ganze lange Heimfahrt von der Arbeit drüber nachgedacht, warum ich das doof finde. Vermutlich, weil ich es cooler fände, für das mining "proof of useful work" einzusetzen, z.B. Proteinfaltungsberechnungen von folding@home oder andere Sachen, die wirklich Sinn machen. Dafür dann Tokens zuteilen, wäre nice.

properties (22)

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@jedigeiss · Oct 16 '20

Ein großer Teil meiner CPUs und GPUs rechnen schon seit Ewigkeiten an Gridcoin Aufgaben, ist alles schon da ;)
rentieren tut sich das allerdings genausowenig ;)

properties (22)

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@stayoutoftherz · Oct 16 '20

According to @edicted it is highly profitable right now, but with a fast decreasing profitability, as more people join. I will skip this. Still burned after the WLEO fiasco.

👍 anli

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properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
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