Mining Cryptocurrencies and Milking Active Faucets in 2021, With a CPU/GPU: Is it worth it?

Mining Cryptocurrencies and Milking Active Faucets in 2021, With a CPU/GPU: Is it worth it?


The short answer to this seems to be", "No, use an ASIC or make a loss." However, after doing some research on various Web pages (not cited here, naughty me), the consensus seems to be that ...

  • while there are some cryptocurrencies designed to be ASIC-resistance, human ingenuity can't be beaten and ASICS have been developed for them.
  • if you are going to mine without an ASIC, your best option is a bank of many GPUs (in which case, you should mine Monero or Ravencoin).
  • if you're going to use a CPU to mine, you're probably wasting your time and electricity. However, you might break even with Electroneum and Ravencoin on a tenth generation or later CPU.

Having bought myself a new computer (despite my strong desire not to spend money if possible), because my old one is on its last legs (hard drive failure imminent and becoming non-responsive if the screen dims/switches off), I am hoping that some new metal is sufficient to earn me a little crypto. While it's unfortunately not going to be enough to replace the income from a conventional job as a corporate slave, I'm looking to subsidise my income so that I don't have to find a job that's too stressful or requires my attention full-time.

To that end, I have also made a list of a number of active Cryptocurrency faucets that I intend to investigate in order to create a comparison matrix and rank in terms of profitability and decide if they're worth milking. So far, I've found three and, between them, earned about $0.01 USD (which is definitely not worthwhile as I need to earn about $6-8 USD a day to keep afloat). However, I have a list of over forty faucets I've yet to try, so perhaps I'll have better results/earnings with the others (either individually or in combination). Once I've gathered my findings and completed the comparison, I'll publish my findings.

 

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Great White Snark
Great White Snark

I am currently unemployed, having quit my S/W & Web Dev job due to COVID-related health issues. I'm hoping to go full Crypto to earn a living, not go back to an 08:00-18:00 grind. Unsigned music producer; snarky; white; balding; smashes Patriarchy some.


Cryptographic Anarchy: (Mis)Adventures in Crypto
Cryptographic Anarchy: (Mis)Adventures in Crypto

The content of this blog is exclusively to do with online privacy/security, cryptography and cryptocurrency: Understanding it, investing in it, mining it (in groups/crowds), developing/programming it, the social problems it aims to solve and the various ways to make more of it (or not, as various losses and failures happen). Let's get away from oppressive banksters and fiat, to an anarcho-syndicalist commune. Banner image: Blogger's own. Contemplating making an HD NFT version if there's interest.

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