{"id":286,"date":"2018-01-06T06:28:34","date_gmt":"2018-01-06T06:28:34","guid":{"rendered":"https:\/\/2miners.com\/blog\/?p=286"},"modified":"2019-07-29T19:07:58","modified_gmt":"2019-07-29T19:07:58","slug":"how-to-mine-musicoin","status":"publish","type":"post","link":"https:\/\/2miners.com\/blog\/how-to-mine-musicoin\/","title":{"rendered":"How To Mine Musicoin"},"content":{"rendered":"

Unlike other cryptocurrency projects, Musicoin develops tremendously fast. MUSIC launched in February 2017, and the exciting thing is that they did not create the plan for the sole purpose of making a quick buck but instead taking advantage of another Ether fork, rewarding musicians, allowing music lovers the ability to listen to music for free!\"\"<\/p>\n

Update<\/h2>\n

Please note that 2Miners delisted Musicoin on July 31.\u00a0<\/a><\/p>\n

Musicoin (MUSIC) is on the 284th place among all cryptocurrencies; its capitalization is $54 mln -> Coinmarketcap<\/a>.<\/p>\n

So far, more than 2000 musicians have registered and started uploading music. Every month their number increases by 50-100% (Musicoin.org<\/a>). Moreover, Musicoin developers didn\u2019t raise money through ICO; they did everything on their own.<\/p>\n

There are over 20,000 registered users in the system, and they listened to songs over 300,000 times so far.<\/p>\n

There has been a significant update in December \u2014 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 \u00b1\u00a0$0.02. Not bad, right?<\/p>\n

And there is still much more to come, take a look at the Musicoin roadmap:<\/p>\n

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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\u2019d better start mining Music now.<\/p>\n

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Mining Musicoin: How Much Can You Earn?<\/h2>\n

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.<\/p>\n

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.<\/p>\n

You can calculate your rewards on What to Mine<\/a>. Insert your hashrate, click on \u2018Calculate\u2019 and you will see your estimated rewards regarding the current exchange rate and mining difficulty.\"\"<\/p>\n

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.<\/p>\n

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Musicoin estimated rewards for 250 mh\/s as of January 8, 2017.<\/p>\n

How to Create a Musicoin Wallet<\/h2>\n

Method #1:<\/strong> Desktop wallet.<\/p>\n

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On Musicoin official website<\/a> 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\u2019t forget to make backups for your wallets.<\/p>\n

Method #2:<\/strong> Wallet on an Exchange.\"\"<\/p>\n

The easiest way is to create a wallet on Cryptopia<\/a> exchange. After registration go to the \u2018Deposit\u2019 page, search for Musicoin and get your address. Don\u2019t worry if you see the warning against using your Cryptopia address for mining \u2014 2Miners pool doesn\u2019t have this issue, so you\u2019ll get coins without any problems.<\/p>\n

As of January 2018 (when this article was being written), Cryptopia exchange won\u2019t let you create a wallet due to the upcoming changes in Musicoin network that were mentioned at the beginning of the article.<\/p>\n

The more complicated way is to register on Bittrex<\/a> exchange and create a wallet there.\"\"<\/p>\n

Search for Musicoin and click on \u2018+,\u2019 then click on the new window that appears called \u2018New Address\u2019 and you can get your wallet there, which in our case is 0xb4d34c107abdc45cf8f437cbca2578ed30bcab75.<\/p>\n

The more complicated way is to register on Bittrex exchange and create a wallet there.<\/p>\n

Claymore Configuration for Musicoin<\/h2>\n

For Musicoin GPU mining we recommend Claymore\u2019s Dual Ethereum GPU Miner. It is regularly updated and supported by most Dagger Hashimoto pools. Developer fee is 1%.<\/p>\n

Step 1:<\/strong> Install Claymore\u2019s Dual Ethereum GPU Miner.<\/p>\n