Mining is now a truly entrenched part of the blockchain ecosystem. Companies reward workers with valuable tokens for their contribution to the various networks.
Classically we have seen the rise and rise of GPU based mining capabilities, intended to solve complex computational problems with GPU and power.
At the time of writing, atypical GPUS made popular have been vacuumed up by demand and often at a much higher cost as the market responds. Consequently, these higher initial upfront costs can make for serious profitability evaluations as difficulty and pool popularity increases.
Lets discuss an alternative,
Multi-Role Mining - MRM
MRM is designed to yield an assortment of tokens as listed in our conclusion. The below specifications are a very general look at what we need running from a single operating unit or MRM to achieve this capability.
Lets dive in and see how we can accomplish this.
1. The Rig.
GPU
Min 2+ 3GB GPU; Recommend - Nvidia 1070 or equivalent.
RAM
64GB 3000Mhz ; Recommend - RipJaws V or equivalent, this is due to the RAM latency time featured in this product that may assist with Cuckoo Cycle mining. Disclaimer; this claim has not been tested only perceived at a glance by the author.
Storage
10tb Exteral or Internal - Recommend - Seagate 5TB external for cost effectiveness.
Bandwidth
50mbs - Recommend that at least the property where MSM has a 50mbs connection, but this may be scaled down with QOS configuration on the border router to better tune results.
Okay Great - Tick - we have all the general specifications, now what?
Lets tie the resources up with some tasks!
Mining/Farming
GPU. My parameters for selecting what to mine with our GPU resource are basically, look for a newer blockchain thats performing well which requires GPU computation, and of course, a token value which looks likely to increase based on your research.
*On 'Due Diligence', please read: https://medium.com/@richardspicer/how-to-perform-basic-due-diligence-on-any-crypto-asset-f4cdbcb126ca
Recommendation; Ubiq - Ubiq has performed solidly in recent weeks and I believe it is currently undervalued.
Some interesting points on why that currency may be considered undervalued can be seen in this handy presentation below.
Ubiq Mining guide;
And Ubiq Market Performance;
https://coinmarketcap.com/currencies/ubiq/
RAM. - This does not need to be 64GB at time of writing but is more in preparation for Aeternity. For those that don't know Aeternity is set to shake up the Crypto ecosphere as it intends to allow all devices to capably mine the Aeternity blockchain using RAM this is known as 'Cuckoo Cycle'.
RAM mining can be done in conjunction with our other mining capabilities. Here is a terrific write up on the current state of play.
https://medium.com/@EthereumRussian/ico-review-of-aeternity-blockchain-aeon-tokens-45f84abe6b4b
Storage.
We are going to put our 10tb to work by doing some storage farming. We have many companies to choose from in fact this choice may be considered a hot topic in the storage farming community right now - 'Where is best to farm storage?"
While this is an article in itself, we can for now look at; Sia, Storj, MAID and BURST when we apply our due diligence.
Recommendation; Storj; The ease of establishing the farming node and the ease of use for developers in conjunction with the recent coin value jump on the back of the successful token sale and ERC20 token transfer make this an interesting propect to accrue tokens. Some more details here;
https://steemit.com/cryptocurrency/@adzytho/storjcoin-on-ethereum-transfer-complete-updates-and-fixes-2017621t75014986z
Bandwidth.
We can use our MRM to act as a network node for decentralized VPN services.
Recommendation; Mysterium https://mysterium.network/ - Much like Aeternity, this service will be available to contribute to very shortly using our bandwidth. As always apply due diligence before contributing to networks.
Conclusion.
The MRM described above is now accruing;
Storj tokens,
Myst tokens,
Aeternity Tokens and
Ubiq Tokens.
That is terrific value from one rig, please post your thoughts and comments below and as always as a community we can fine tune this art form together. And my final question, are two MRMs are better than one? :)