Saturday, December 19, 2015

How to Mine Bytecoin, Monero and Fantomcoin Using Google Cloud Computing Free Trial


Google cloud offers everyone $300 credit for free to spend over the first 60 days on signing up. You'll need a valid credit card for registration but won't be billed during the trail. The following steps will guide you to mine Bytecoin, Monero and Fantomcoin on Google cloud:

1. First register for a MinerGate account using your email.



2. Sign up for the Google cloud free trial: https://cloud.google.com/free-trial/

3. In Google cloud console - https://console.developers.google.com/project, create a new project, and give it a name. You may check the tutorial https://cloud.google.com/compute/docs/linux-quickstart (a video tutorial included) before you go on.

4. Go to your project dashboard - something like "https://console.developers.google.com/compute/instances?project=projectid-web-111612&graph=GCE_CPU&duration=PT1H", add a VM instance by click "NEW INSTANCE" button. Change the "Machine type" to "High CPU machines (n1-highcpu-2, 2 vCPUs, 1.8 GB Memory)", and change "Boot disk" to "Ubuntu 14.04 LTS (amd64 trusty image built on 2015-09-09)". For the "Firewall", tick both "Allow HTTP traffic" and "Allow HTTPS traffic". Then click "Create".

5. Find you created instance, click "ssh", "Open in Browser Window".

6. Now, in the console, input (you can ctrl+c and then ctrl+v into the web terminal) the following three command lines (one line + enter key, each time):
wget https://minergate.com/download/deb-cli
sudo dpkg -i deb-cli
nohup minergate-cli -user youremail -bcn 2 -fcn+xmr 2
where you should replace "youremail" with your MinerGate account email.

7. Now you can close the ssh browser window. Check your instance's CPU usage, which should be about 100%.

8. You can repeat the above steps to get more instances (You can also create a "Snapshots" of your VM instance just created and duplicated it to get more instances).

9. Now you can just let your project running for the whole trial period. Don't need to worry about your credit card being charged as according to google's FAQ, your projects will be paused automatically when your trial credits run out and you won't be charged unless you upgrade your trial account to paid account.

Warning: This tutorial is for demonstration purpose only. Use google cloud for cryptocurrency mining only may be a violation of its TOS and may result in your google cloud account being suspended (Although this has not been confirmed as their terms of service is vague about this). Try at your own risk! If you're worrying about that, you can safely delete your newly created computing project now.

FAQs:

Why Bytecoin and Monero?
As is known to all, nowadays it is not profitable anymore to CPU mine most cryptocurrencies, such as Bitcoin or Litcoin. This page (http://cpucoinlist.com/) listed some altcoins that are still suitable for CPU mining, in which Bytecoin and Monero are the most popular two according to the cryptocurrency rank: https://www.coingecko.com/en.

References:

https://bitcointalk.org/index.php?topic=855564.0
http://askubuntu.com/questions/106351/running-programs-in-the-background-from-terminal
http://cryptorials.io/mine-cryptocurrency-normal-computer/

9 comments:

  1. Violates Google's Terms of Service. They will shut down your account.

    ReplyDelete
  2. Violates Google's Terms of Service. They will shut down your account.

    ReplyDelete
  3. if u upgrade your account, it wont shut down. that worked for me.

    ReplyDelete
  4. @aleksanderMarch
    sorry, what does "upgrade" mean?
    did you upgrade once trial expired? before? at the beginning?

    ReplyDelete
    Replies
    1. I think you should upgrade at the beginning to ensure google is happy.

      Delete
  5. How much is the upgrade?

    ReplyDelete
  6. it doesnt work for me. when i enter the code and put my email in the youremail section and copy it in the ssh window it wont load anything.

    ReplyDelete
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