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Update
Please note that 2Miners delisted Musicoin on July 31.
Musicoin (MUSIC) is on the 284th place among all cryptocurrencies; its capitalization is $54 mln -> Coinmarketcap.
So far, more than 2000 musicians have registered and started uploading music. Every month their number increases by 50-100% (Musicoin.org). Moreover, Musicoin developers didn’t raise money through ICO; they did everything on their own.
There are over 20,000 registered users in the system, and they listened to songs over 300,000 times so far.
There has been a significant update in December — now Musicoin songwriters can embed their songs on Twitter and get rewarded if someone listens to it. For example, if you listen to the song you see below, the musician will get ± $0.02. Not bad, right?
And there is still much more to come, take a look at the Musicoin roadmap:
Recently there have been rumors on Twitter that Musicoin was going to make a big announcement on January 10. This currency is full of great surprises, so you’d better start mining Music now.
Mining Musicoin: How Much Can You Earn?
When expecting big announcements, you should always study the coin beforehand, start mining , and then resell at a higher price. Or you can HODL for a couple of years of course.
We already wrote about PIRL and HUSH and why you should mine them. If you want to make money from mining, read those articles as well.
You can calculate your rewards on What to Mine. Insert your hashrate, click on ‘Calculate’ and you will see your estimated rewards regarding the current exchange rate and mining difficulty.
Musicoin mining difficulty and network hashrate are not very high, while rewards are similar to those of Ethereum or Ethereum Classic. If your hash rate is 500 mh/s or more, you can easily try SOLO mining.
Musicoin estimated rewards for 250 mh/s as of January 8, 2017.
How to Create a Musicoin Wallet
Method #1: Desktop wallet.
On Musicoin official website download the wallet version for your OS and launch it. After installation, the program will download the full version of Musicoin blockchain to your computer. Don’t forget to make backups for your wallets.
Method #2: Wallet on an Exchange.
The easiest way is to create a wallet on Cryptopia exchange. After registration go to the ‘Deposit’ page, search for Musicoin and get your address. Don’t worry if you see the warning against using your Cryptopia address for mining — 2Miners pool doesn’t have this issue, so you’ll get coins without any problems.
As of January 2018 (when this article was being written), Cryptopia exchange won’t let you create a wallet due to the upcoming changes in Musicoin network that were mentioned at the beginning of the article.
The more complicated way is to register on Bittrex exchange and create a wallet there.
Search for Musicoin and click on ‘+,’ then click on the new window that appears called ‘New Address’ and you can get your wallet there, which in our case is 0xb4d34c107abdc45cf8f437cbca2578ed30bcab75.
The more complicated way is to register on Bittrex exchange and create a wallet there.
Claymore Configuration for Musicoin
For Musicoin GPU mining we recommend Claymore’s Dual Ethereum GPU Miner. It is regularly updated and supported by most Dagger Hashimoto pools. Developer fee is 1%.
Step 1: Install Claymore’s Dual Ethereum GPU Miner.
- Download the latest version
- Unpack the archive.
Step 2: Download or create bat file to launch miner.
- To make the launch process less complicated, use a text file with .bat extension.
- In the folder with your miner create a new file with the name of your choice and .bat extension
Why Do You Need Bat File?
Miner works in the console and doesn’t have a visual interface. When you launch miner, you should “forward” settings to it, so that it operates correctly. Instead of using the command line to do it, you can create a bat file with only one intended use — sending pool address, wallet number, rig name, and other settings to your miner.
Add the following text to your bat file:
setx GPU_FORCE_64BIT_PTR 0 setx GPU_MAX_HEAP_SIZE 100 setx GPU_USE_SYNC_OBJECTS 1 setx GPU_MAX_ALLOC_PERCENT 100 setx GPU_SINGLE_ALLOC_PERCENT 100 EthDcrMiner64.exe -epool music.2miners.com:4040 -allcoins etc -eworker RIG_NAME -ewal WALLET_ADDRESS -epsw x
Miner Parameter Values
setx GPU_FORCE_64BIT_PTR 0 setx GPU_MAX_HEAP_SIZE 100 setx GPU_USE_SYNC_OBJECTS 1 setx GPU_MAX_ALLOC_PERCENT 100 setx GPU_SINGLE_ALLOC_PERCENT 100
parameters for AMD
EthDcrMiner64.exe
miner
-epool music.2miners.com:4040
Musicoin pool address & port
-eworker RIG_NAME
Remove rig name or add one of your own — 8 symbols max; use only Latin letters, numbers 0-9, underscore and hyphen.
-ewal WALLET_ADDRESS
Your Musicoin wallet address.
-epsw x
Password for pool access.
Replace RIG_NAME and WALLET_ADDRESS with your names and save the file. It should look similar to this:
Step 3: Launch miner.
If everything was done right, by double-clicking on bat file you will launch the command line and see the following:
Music Mining Pool
To ensure everything works correctly in the pool, go to music.2miners.com and insert your wallet address in the search field in the upper right corner. Your statistics will appear on the pool as soon as your miner sends the first share. You will see it in the miner window — ‘Total Shares: 1’.
To see the real average performance on the pool, you should wait a few hours. Your hashrate on the pool is based on the number of sent solutions (shares) and may not always correspond to the hashrate you see in your miner.
MUSIC Mining Configuration for Hive OS
If you don’t use a rig as your primary computer, check out this review of the operating system for mining called Hive OS. It lets you administer and monitor your rigs much more efficiently than Windows does. If you already use one, here is an example of wallet for MUSIC mining:
{
"name": "2Miners MUSIC",
"email": null,
"props": {
"ewal": "0xb4d34c107abdc45cf8f437cbca2578ed30bcab75",
"claymore": {
"epools_tpl": "POOL: music.2miners.com:4040, WALLET: %EWAL%, WORKER: %WORKER_NAME%, PSW: x",
"claymore_user_config": "-allcoins exp\n-allpools 0"
}
},
"fav": 0
} Copy the code, go to ‘Wallets’ and click on the link at the bottom: “Create wallet from JSON code.”
After you insert the code, Hive OS will create a new wallet — the only thing you need to do is replace Musicoin wallet address.