If I understand this correctly, this is a downloadable mining client for Mac, PC, and Linux computers or an in-browser miner. This isn't a new idea but their approach seems to be simplistic and effective. Kudos!
Miner beware: likely, with the number of GPU miners online today, this will not be profitable for you when factoring in how much you spend in electricity to power your relatively weak laptop. I would also worry about damaging your laptop (wear & tear damage from running something at full-tilt for extended periods of time, or overheating) but that's a risk you are deciding to take on.
As always, if you want to actually invest in cryptocurrencies, best bet is to just buy some. 💸
@nickabouzeid
" ... their approach seems to be simplistic and effective."
A "simplistic" approach would be an approach that is in some way inadequate, *too simple*, and necessarily *ineffective*.
"Simplistic" does not mean _pleasingly simple_, or anything like that. You might be looking for "minimalistic," or just "simple."
Nice product if I can warm up my flux capacitor and set the date to 2011. FYI if you have a 1080Ti expect $3 a day running 100%. All down hill from there with any other configuration.
@jaredepicpower is it successful because of current bitcoin price or better than others services? is there a btc price at which it doesnt make sense to mine?
@jaredepicpower Jared, what kind of earnings?
@Richardginsberg $3 usd / day may be nothing now, but if the coins take a run, and beat inflation, it could be worth far more in days to come. or if fed reserve deflates US currency, that also helps.
@jaredepicpower@alex_kranenburg Bitcoin is unmineable without latest ASIC hardware. CPU/GPU/FPGA is bringing a tooth pick, pocket knife and axe to a nuclear armageddon.
'm curious to see what else people will do with tech like this. I can imagine people renting coworking spaces to take advantage of the electricity costs and plugging in all their computers......
@datarade This has definitely happened but gets shut down relatively quickly from what I hear. Most subleases/rental agreements include some sort of "reasonable use" clause that allows the tenant to back out of the agreement if they catch you 😏
Then you start mining with minergate you can see that your hash/rating really weak. But then you run any the same script - you can see that your mining profit become twice more
Pros:
it runs on every pc where you launch it
Cons:
They should start to be fair and not stealing half of user profit
Sometimes products don't match the expectations of people. We believe it's not a legit reason to talk about stealing. Every service that develops actively has issues sometimes. We do our best to keep in touch with our users. If you faced problems please direct the request to support@minergate.com. Our support team will be glad to help you.
Having tried this for some time I felt it could do a lot better. Basically because of smart mining you end up mining multiple types of cryptocurrencies which you have to convert yourself. Comparatively nicehash is better. It finds the most profitable currency to mine and only credits you in the form of BTC. Both of these applications are a good way to get started though.
Just a warning. If you run this software all night on a laptop, it might fry your mainboard :0 My laptop died after a few days of running MinerGate. Probably more suitable for a desktop.
First I was discouraged by the fact that the software was detected as a malware by my antivirus, but then I learned that some miners are false positive because they require the access to my hardware. Probably that was the only time when I had problems with MinerGate.
My experience is quite positive. I mine with CPU and an old graphics card and I can't say that I became a rich man but I have some extra coins in cryptocurrencies thanks to MinerGate. I'm totally happy with it. All this time my earning were kept safe and there were no problems with withdrawals.
Pros:
You get paid, intuitive interface, big (and nice) selection of coins, the service is safe, they develop all the time, decent support service
I use it for quite a long time (since 2016). It provides me with some extra profit + I'm happy to contribute to the blockchain with mining. If you are going to use MinerGate's cloud mining service please note that it will take several months to regain the amount you invest and then you will be enjoying some daily rewards. Just don't panic and be patient in the first months. In case if you feel you need some assistance you can always contact MinerGate's support team via email address support@minergate.com. They are quite nice.
Pros:
MG supports a lot of currencies, easy to use, many options: smart mining, cloud mining, GPU/CPU, affiliate program, merged mining, ASICs etc
Cons:
No one knows the location if this company (however we can tell the same about Satoshi Nakomoto, so...)
To your surprise, I came across a minergate on Youtube, I was surprised at the possibilities of this mining pool and soon tried to use it. It's up to everyone to choose their own pool, but this pool turned out to be very convenient and suitable for me and I chose it.
They provide various type of coins which you can mine. I appreciate their “Smart Mining” feature. Good to see that it is an automatic mining of the currency that has the highest exchange rate during the last hour. It is worth to try.
It's quite convinient that you can use app as well. Sometimes you're aware of your computer. But here you should keep your finger on the pulse to make profit. It helps me to save my time as well.
Pros:
Convinient, mobile app available, helps to save time
If you want to mine such coins as Ethereum, Monero, ZCash, Bitecoin, Bitcoin Gold or DigitalNote at home with your GPU, MinerGate is the best place for you.
Pros:
Regular payouts, design is fire, many coins to choose from (you can always switch to something better).
I consider MinerGate as the best choice for cloud mining. It will take months to cover the investment and then you will be getting daily net profit. It doesn't seem that MinerGate will disappear with your coins because they are working for quite a long period and there is no evidence that they have scammed anyone so far. If you are going to mine with your own hardware it's better to invest in some GPUs.
Pros:
Cloud contracts are lifetime, MinerGate lets you to mine Monero, Ethereum and many other cryptocurrencies, GUI is very easy to use.
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Then you start mining with minergate you can see that your hash/rating really weak. But then you run any the same script - you can see that your mining profit become twice more
Pros:it runs on every pc where you launch it
Cons:They should start to be fair and not stealing half of user profit
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First I was discouraged by the fact that the software was detected as a malware by my antivirus, but then I learned that some miners are false positive because they require the access to my hardware. Probably that was the only time when I had problems with MinerGate.
My experience is quite positive. I mine with CPU and an old graphics card and I can't say that I became a rich man but I have some extra coins in cryptocurrencies thanks to MinerGate. I'm totally happy with it. All this time my earning were kept safe and there were no problems with withdrawals.
Pros:You get paid, intuitive interface, big (and nice) selection of coins, the service is safe, they develop all the time, decent support service
Cons:Nothing critical.
I use it for quite a long time (since 2016). It provides me with some extra profit + I'm happy to contribute to the blockchain with mining. If you are going to use MinerGate's cloud mining service please note that it will take several months to regain the amount you invest and then you will be enjoying some daily rewards. Just don't panic and be patient in the first months. In case if you feel you need some assistance you can always contact MinerGate's support team via email address support@minergate.com. They are quite nice.
Pros:MG supports a lot of currencies, easy to use, many options: smart mining, cloud mining, GPU/CPU, affiliate program, merged mining, ASICs etc
Cons:No one knows the location if this company (however we can tell the same about Satoshi Nakomoto, so...)
my fav function is a smart mining option. it helps to gain much profit.
Pros:smart mining
Cons:none
Minergate is a promising platform. For this pool to be in the top you need to further support your customers and improve the service though
Pros:Multicurency mining pool: 12 coins available for mining
Cons:too simplistic interface for advanced users.
They provide various type of coins which you can mine. I appreciate their “Smart Mining” feature. Good to see that it is an automatic mining of the currency that has the highest exchange rate during the last hour. It is worth to try.
Pros:Smart Mining, 12 coins
Cons:Not found yet
I can not say that there are super conditions here, but at least not worse than others. Most importantly - everything is stable
Pros:Pleasant interface, fast support service.
Cons:At the moment, I found no cons.
It's quite convinient that you can use app as well. Sometimes you're aware of your computer. But here you should keep your finger on the pulse to make profit. It helps me to save my time as well.
Pros:Convinient, mobile app available, helps to save time
Cons:Wuold like to see more currencies there
If you want to mine such coins as Ethereum, Monero, ZCash, Bitecoin, Bitcoin Gold or DigitalNote at home with your GPU, MinerGate is the best place for you.
Pros:Regular payouts, design is fire, many coins to choose from (you can always switch to something better).
Cons:We want Dogecoin!
I consider MinerGate as the best choice for cloud mining. It will take months to cover the investment and then you will be getting daily net profit. It doesn't seem that MinerGate will disappear with your coins because they are working for quite a long period and there is no evidence that they have scammed anyone so far. If you are going to mine with your own hardware it's better to invest in some GPUs.
Pros:Cloud contracts are lifetime, MinerGate lets you to mine Monero, Ethereum and many other cryptocurrencies, GUI is very easy to use.
Cons:Sometimes dashboard lags.