So the biggest complaint and comment I get from non miners all the time, or people afraid to get into mining is that it’s too expensive and too hard to set up a rig and a mining program. This is the biggest barrier to entry for people. Well this problem is about to be solved. Enter Honeyminer.
Honeyminer? What is that?
Honeyminer is a new mining project that is being headed by Coinyeezy and Crypto Randy Marsh. I was lucky enough to be brought into the beta extremely early. Even in early beta I could see the potential and the bigger picture of what they are trying to do. First off, Honeyminer is the easiest mining software to setup and use. Download the software, register with the site, log in and go. Thats it. Also the user interface is extremely user friendly and very well put together as pictured below.
The other thing is that this will run on litterally any Windows computer (iOS and LINUX coming soon) so if you are worried that you need some grandious mining rig, you would be wrong. I have this running on one of my mining rigs but it is also running on an old Dell laptop with a Core i3.
How does Honeyminer work?
Honeyminer is a profit and algorithm switcher. It works in a sense like nicehash. Actually, when I started using it I called it “Nicehash for your mom” because of how easy it is to use. It uses you hashing power to mine a certain coin and pays you out in Bitcoin (Ethereum and other coins coming soon).
Algorithm Switcher? What are you talking about?
So every proof of work coin has an associated algoritm. Here are a few examples:
And the list goes on and on.
Now with this, Every GPU and CPU has its strongest and weakest coins to mine. Thats where Honeyminers algorithm kicks in. Instead of having to go on a site like whattomine, find out what is profitable, download a miner, setup a wallet, join a pool, and figure out if you set up your .bat file up correctly and pray. Honeyminer does that for you. Say your GPU is mining Ethereum Classic, and all of a sudden there is a price spike in Monero. The Honeyminer algo will pick up on that and automatically switch you over.
This sounds cool and all. But how much money will I make?
So as I have stated in previous articles. There are many variables to this. First and formost what you are using. Of course a mining rig or even one high end GPU is going to net you more profit. But that old laptop you have thats just chilling doing nothing will still mine you some honey. Here are a few examples below. Remember these are based off of todays rates and .10c kwh. And we all know in 5 years this will all be worth much more.
6 card AMD RX580 rig
1 AMD Vega 64
Ryzen 7 1800x CPU
This also doesn’t add in an level bonuses or if you have people join honeyminer through your referral.
The future looks pretty sweet
So what does the future hold for Honeyminer?
First off this is still in early beta, which means that Honeyminer has not reached it’s full potential. There are still random bugs and issues that come up daily that the team is hard at work on.
The release for iOS and Linux are still coming down the pipe.
Different payout methods are coming (Ethereum being the next one).
A pro version that will allow you to pick different coins to mine and keep those coins you have mined instead of just hashing away and being paid in BTC (no eta as of writing).
Also join the Honeyminer Telegram group here. I’m also an Admin and can help you out with most issues, or direct you to the support team.
As always make sure you check out my social media links for the latest mining news