How to mine

Anonymous mining

Firstly, get a Riecoin address, either by using Riecoin Core or a Riecoin Exchange.

Then, download rieMiner for your system.

Finally, download this sample rieMiner.conf configuration file and put it next to the executable. Or, create yourself the rieMiner.conf and copy-paste this sample:

Mode = Pool
Host = Stelo.xyz
Port = 2005
Username = ric1qstel092jqp8ucz94kzcklx7r4sh7n9c79gukkf

Open the rieMiner.conf with a text editor and put your own Riecoin address as the Username, start rieMiner, and you are done. You do not need to change/add a password line. Happy mining!

Your address will be shown in the rounds' data (as a finder or participating miner).

Earnings will be associated to the address, and its balance will automatically be checked regularly. If it reaches 1.25 RIC, there will be an automatic payout. Create a Stelo.xyz account if you want to withdraw manually (automatic withdrawals with custom thresholds are however not supported for now).

Mine with a Stelo.xyz account

Alternatively, you can create a Stelo.xyz account and use it for mining. The advantage is that you get PoW Credits that can be consumed to use some services or as captcha alternative, read below to learn more. Having an account also allows you to monitor your balance and convert RIC to BTC easily and save withdrawal fees.

In this case, you must own a Bech32 Riecoin address, and be able to generate codes with it. For this, you can for example download and set up Riecoin Core, and generate an address. Then, you must register the address in your Account page.

Generate Code
How to generate a code in Riecoin Core.
Register Address
Put the code here.

Having at least one address registered unlocks some options, and you can now create a token, which is needed for mining with a Stelo.xyz account. Fill the form and submit it.

Create Token
You should choose a very long expiration time (just remember about it in 5 years if rieMiner is unable to start :D) and leave to 0 the PoWc limit. You can choose the token name.

A token is created and shown. There is no other way to retrieve it, so make sure to save it somewhere safe.

Create Token
If you lose it, you should remove the token and create a new one.

Now, download rieMiner for your system if needed, get this sample rieMiner.conf configuration file, and put it next to the executable. Or, create yourself the rieMiner.conf and copy-paste this sample:

Mode = Pool
Host = Stelo.xyz
Port = 2005
Username = username
Password = d899f417f448c96f7d8d34d19b6f6f1cd7ff6e8524d5eb884ec5b744885b34b1

Open the rieMiner.conf with a text editor and put your own username and token (uncomment the Password line if you downloaded the sample), start rieMiner, and you are done. Happy mining!

Fees

Our pool has a 0.8% fee on block rewards and a 0.005 RIC fee per withdrawal.

For conversions with BTC, we look for the best rates, but there is also a margin due to the low liquidity of Riecoin and to cover our own fees. Our current BTC withdrawal fee is 0.00005000 BTC, it is usually 5-20 times more expensive in exchanges (which also often actually use only a small fraction to pay the network fees)!

Tune rieMiner

Advanced users may use additional rieMiner options to tune the miner and improve earnings a bit. Firstly, the README.md shows all the available options and also how to build rieMiner from source if this interests you. Then, there is a guide that explains how to properly benchmark and find good parameters for your computer. Tuning rieMiner requires rigor and patience, and is similar to find an optimal overclock (we however discourage overclocking as this usually reduces the efficiency due to the increased power consumption).

What are PoW Credits (PoWc)?

PoW Credits are points distributed to account owners, in accordance with the mining work provided, with the reference 1 PoWc = 1 Riecoin Block. They don't have any monetary value, but quantify the computational work recently done by a given user. The PoWc cannot be transmitted and are valid only 7 days, but may be "consumed" by services either provided by the pool or external ones that trust it.

Besides a system rewarding active miners if the pool provides services consuming PoWc, the Credits are an interesting Captcha replacement given that it is difficult to get them, deterring spammers by reducing considerably their efficiency and preventing them from selling large amount of PoWc due to their quick expiration. If you provide services, start integrating the PoWc system, spread the word, and make the Internet a better place! Check our API to learn how to consume PoWc!

Generate Code
Dang, does the pole count?! Should I select the cell containing a tiny part of the bottom left corner of the traffic light?!

Captchas are getting more and more complicated to circumvent the advances of Artificial Intelligence, and we might reach a point where AI solves any Captcha better than humans... If it becomes widely adopted, the PoWc system could entirely replace them. Moreover, calculations to generate PoWc produce interesting scientific data thanks to the useful Riecoin PoW, and you earn money at the same time!