Im fairly new to mining and I was wondering what Gp/s is in relation to H/s, in the convertors it´s the same thing as Sol/s even.
When you go to calculate the profitability on for example cointomine, the calculator puts the thing to h/s as default. Which means that mining for Grin must be a little different from the other coins?
I dont really understand if will be able to mine this with my computer or how to even calculate it?
I have both a good CPU and GPU but I understand that today you have to probably have a rig to make a profit of mining.
Would be nice if someone out there could give me a good answer to this…!
@Dingbat
There are many type of proof of work algorithms. For different Cypto projects, different Proof of Work, algorithms are used. In case of Grin that algorithm is Cuckoo Cycle- Cuckatoo32.
In all cases, you calculate the profitability as:
Mining Revenue = [Mining reward per block][Amount of work you do in the time of block]/[total amount of work done in time of a block] Cost = electricity price used by your hardware in the time of a block Profitability is simply calculated as
Profitability = Price * Revenue - cost
Many proof of work algorithms produce a hash, hence they call the work you do the hash rate, and the total amount of work done, the network hash rate.
In case of grin, the proof of work is a graph calculation, hence we often talk about the graph rate and network graph rate. This is just semantics, the idea is the same as the hash rate.
You do not need to make this calculation yourself, sites like these can do it easily for your:
In your case, mining Grin is most likely not profitable since there are Application-Specific Integrated Circuit’s (abbreviated as ASIC) on the market. Your GPU is less power efficient when doing work for Grin, so most likely your electricity cost will be higher than mining revenue. You either have to buy ASICs for Grin mining [See this list of Grin/CuckooCycle 32 ASIC vendors], or use your GPU to mine a project with GPU or even CPU friendly mining algorithm. Again, the site Whattomine can show you which crypto currency would be most profitable for mining with your specific GPU.