Concerns about personal privacy shouldn’t be limited to criminals. We all have the right to privacy; from each other, the government, third-parties etc. This is why blockchain and Bitcoin was created in the first place. However, a flaw with Bitcoin is that it is still traceable.
Monero isn't! Which is why we at Luxor Mining just launched a mining pool to support the community. For those of you who are unfamiliar with Luxor, we are an altcoin pool built for high quality cryptocurrencies.
At Luxor we only mine coins that we believe in, that’s why we set up a Monero Pool and support the community in any means possible. If you are a current miner of Monero, or want to start make sure to check out our pool.
⏱ Upgrade to RandomX
On Nov 30th 2019 Monero upgraded to RandomX. RandomX is an algorithm that takes ASIC resistance one step further. It is designed to be ASIC resistant by using random code execution and memory-hard techniques to prevent specialized mining hardware from dominating the network. Because RandomX is optimized for general-purpose CPUs, the network will become more decentralized and egalitarian in the distribution of block rewards.
Can learn more about the upgrade here.
🔧 Setup Guide
First, you’ll need a wallet to safely store all of your Monero. Download the official GUI from the following link.
In case you want to get rewarded with Bitcoin, Catalyst, allows any miner to mine Monero and get Bitcoin through smart coin-conversion technology. Just register for a user account, turn on Catalyst, and start earning satoshis.
RandomX can be mined with CPUs and GPUs. However, GPUs will mine at much less an advantage over CPUs. Monero uses the RandomX hashing algorithm. You should choose one of these two mining software: XMR-STAK or XMRIG.
🖇 Getting Started
Setting up both mining software is extremely simple. After you run either .exe file a command line screen will prompt and ask you the following parameters:
- Algo: xmr-stak-rk:
- Pool Stratum:
That is it. You’ll start seeing jobs coming in.
💡 Tip: Run either software with Admin Priviledges and disable Real-Time Protection in Windows to avoid the antivirus shut down your mining operation.
In the case of xmr-stak-rx, config files will be created after the first start.
config.txt contains the common miner settings.
pools.txt contains the selected mining pools and currency to mine.
nvidia.txt contains miner backend specific settings and can be used for further tuning.
Check this guide to fine tune xmr-stak-rx.
In the case of xmr-rig, you’ll see a config.json file since the get-go. After the initial setup your file should look something like this:
⚓️ User Accounts
With User Accounts, there are enhanced security features to protect your mining operation while providing you greater control.
With custom payment thresholds and manual payouts, you dictate when you want to get paid. Set your payment threshold to suit your needs, you rule over your mining.
Learn more about Luxor User Accounts here.
📈 Monitoring revenue and miner performance
Once you’ve started hashing, grab yourself a beer! It’ll take about 5 minutes for your worker to appear on our stats page. To find your user, log into your account and head to the Workers tab. You should see something like this:
To make your life easier, we developed the smartest Mining Bot: Lifeguard. He is available 24/7 and always in a good mood to answer all of your questions and track your miners’ statuses and performance.