How to mine MimbleWimbleCoin (MWC): 2Miners pool.

The settings of the miner, the profitability of mining MWC, the pool and features of the coin.

Bitcoin is not an anonymous cryptocurrency. If anyone links a person’s identity to a specific address, then all the operations of the latter will be visible. Of course, developers are working on add-ons to increase the privacy of BTC, but things are moving slowly. With this in mind, it is not surprising that enthusiasts are launching new anonymous projects. One of them is MimbleWimbleCoin (MWC). Getting acquainted with the coin and its mining.

What is MimbleWimbleCoin?

MimbleWimbleCoin (MWC)

MimbleWimbleCoin (MWC) is a cryptocurrency based on the MimbleWimble privacy Protocol. Whitepaper Protocol was published by a developer under the pseudonym Tom Elvis Jedusor on July 19, 2016. His nickname is the name of the main antagonist of the Harry Potter series of books — Voldemort.

MimbleWimble means a blockchain with increased scalability, privacy, and token interchangeability. Previously, developers wanted to implement this Protocol in the Bitcoin blockchain to improve its characteristics, but due to the complexity of the process, they decided to abandon this idea.

As a result privacy oriented cryptocurrencies were born on the basis of MimbleWimble. The most famous of them are Grin and Beam. In November 2019, a sequel of these projects appeared under the name MimbleWimbleCoin. In contrast to Grin, the developers chose the model of gradual reduction of the inflation rate for MWC, that is, the total number of coins is predetermined in advance.

Main facts about MimbleWimbleCoin:

Max Supply: 20 million MWC;

Total Supply: 10 603 908 MWC;

Proof-of-Work (POW) consensus algorithm: Cuckarood C29 , Cuckatoo C31 ;
Project source code type: Open source;
Source code: Grin project code;
Features of the transaction: Uses CoinJoin and Confidential Transactions.

Features Of MimbleWimbleCoin

The key advantage of MWC is the presence of the HODL program. Thanks to it, MimbleWimbleCoin addresses with an inactive balance will receive a certain reward for a pre-agreed period. In this way, developers will try to motivate MWC owners not to get rid of their coins, since even a small batch of them can bring in revenue.

That is, if the coins just lie on the wallet and do not move, over time they will become more. The first awards under the program HODL was paid on 305,000 and 314,760 blocks. They were 7699 and 774 065 MWC respectively.

Note that the HODL program will reward users for coins that lie idle on their wallets. This is different from the same Proof-of-Stake(PoS) model that Ethereum should switch to in the future. In this case, users will specifically block their ETH in the smart contract and participate in the life of the network: that is, confirm transactions and receive a reward for their work. But MimbleWimbleCoin users will not have to block anything: just coins on their wallet will be enough to generate income.

And here are pre-determined shares of coins:

10 million MWC-for mining;
10 million MWC-for the base block;
7 400 037 MWC — distributed and are in turnover;
2 599 962 MWC focused on the Deposit wallets that you can check;
2,000,000 MWC-reserved for the HODL program.

Developers identify 10 characteristics that digital money should have. These are:

1. Limited number of coins,
2. Resistance to censorship,
3. Scalability,
4. Durability,
5. Invulnerability,
6. Liquidity,
7. Convertibility,
8. Portability,
9. Privacy,
10. Depositability.

With this in mind, the authors of the MimbleWimbleCoin project have determined for themselves the purpose of its existence, which is indicated on the official site of the project (https://www.mwc.mw/).

“We want to be ahead of all other coins on the market in terms of these characteristics.” Developers of the MWC

MimbleWimbleCoin Metrics

Today, MimbleWimbleCoin (MWC) ranks 214th in the overall rating of CoinMarketCap with a rate of 16 dollars. The market capitalization of the project exceeds USD $165M , and the turnover is 10.37 million MWC. Trading volumes for the last day exceed USD $2.07M or 193 BTC.

MimbleWimbleCoin (MWC) indicators.

Here is the cryptocurrency chart. MWC appeared in the service’s database on February 24, 2020, so there is relatively little data. It should be noted that the peak of trading volumes fell at the end of April-beginning of may — then it ranged from 79 to 146 million dollars per day.

MimbleWimbleCoin (MWC) charts

Where to buy MimbleWimbleCoin (MWC)

MimbleWimbleCoin (MWC) is traded on several exchanges. MWC is currently listed and trading on: Hotbit, TradeOgre, Bitforex, Tokok, Whitebit, Vindax, Coinfield and Bithumb Global.

Exchanges with MimbleWimbleCoin (MWC) support.

Note that earlier, the miners of the 2miners mining pool had problems with the Bitforex exchange. In particular, the platform lost one user’s coins and could not find them. As a result, the miner’s earnings were compensated by the management of the pool, and the representatives of the exchange refused. So this situation should be taken into account when choosing an exchange.

In my opinion, a good choice is the WhiteBIT exchange.

MimbleWimbleCoin Wallet.

The MimbleWimbleCoin (MWC) wallet is available for macOS, Linux, and Windows. The most current version at the time of writing is mwc-1.0.22, it was released on June 19, 2020.

You can download the official MWC QT Wallet for any operating system on the project’s website. Among the alternatives-a wallet for the full node and the MWC 713 project.

Mining MimbleWimbleCoin

As we have already mentioned, MimbleWimbleCoin (MWC) mining is possible on two algorithms-Cuckarood29 and cuckAToo31. The block time is 60 seconds, and the reward for each block is 0.6 MWC. In terms of today’s exchange rate, it turns out to be $9.6 USD.

This is the same Cuckarood29 that Grin originally ran on. Recall that the latest mining algorithm for this cryptocurrency is Cuckarooz C29. Instructions for mining cryptocurrency are described in this material.

MimbleWimbleCoin differs from Grin in other ways, although they are identical in some details. For example, cryptocurrencies have the same block time, which is 60 seconds. At the same time, the Grin reward is equal to 60 coins, which is a hundred times more in comparison with MWC.

In addition, Grin now has three active PoW algorithms-Cuckarooz C29, CuckAToo-31 and CuckAToo-32 — against two MimbleWimbleCoin algorithms. This is the hashrate graph for different algorithms in the 2Miners mining pool.

Grin hashrate on 2Miners

You can follow the blocks in the official blockchain Explorer of the coin. It is available at the link.

Explorer MWC (https://explorer.mwc.mw/)

Where to mine MimbleWimbleCoin

I recommend mining MimbleWimbleCoin (MWC) on the 2miners pool. The mining pool has 9,000 active users, support for PPLNS and SOLO mode, intuitive design and support for 18 languages, including Russian, Ukrainian, Polish and others.

2Miners mining pool.

How to Start Mining MimbleWimbleCoin

The process of starting MWC mining is described on the MWC page on the pool.

First of all, choose your mining server:

Folllow servers are active

2Miners supports both MWC mining algorithms: Cuckarood C29 and Cuckatoo C31. Pool detects the algorithm you set in your miner automatically and provides the job required. Which algorithm to use is entirely up to you, and we are making sure the rewards are calculated accordingly based on the complexity of a particular algorithm.

To start mining follow these steps:

Step 1 — Create a wallet

Generate a MWC address on one of the supported crypto exchanges: WhiteBIT.com or use an official local MWC wallet.

Example: WhiteBIT.com: https://mwc-proxy.whitebit.com/21987968243743

NOTE! It is mandatory to always keep your local WMC wallet online(!) to receive the payouts from the pool. This is the reason why we recommend using the WMC address generated on one of the supported crypto exchanges.

Enter your WMC address looking like http://... or https://... and click “GENERATE” to receive your unique login.
We support TOR .onion address as well. Enter it as a http://ADDRESS.onion/ and click “GENERATE” to receive your unique login.

Use this login in your miner's settings.

Generating the MWC login on 2Miners

Step 2 — Download mining software

• For Nvidia GPU’s we recommend GMiner (Guide — How to use GMiner).
• For AMD GPU’s we recommend lolMiner (Guide — How to use lolMiner).
• For Nvidia and AMD GPU’s we recommend Bminer (Guide — How to use Bminer).
  Use your unique login, generated above, in your miner’s settings.
  Quick start — Download ready to go version of the GPU Miner (archive password — 2miners).

Step 3 — Edit the bat file

You need to edit .bat file, replacing the address in it with your own. Use YOUR_LOGIN that you’ve created on Step 1.

Example: 2aHR0cHM6Ly9ncmlucHJveHkuYml0Zm9yZXguY29tLzE5ODkzMzA

If you want, you can Change RIG_ID in the bat file. Specify the name of the rig as you want it to be shown in miner's statistics page. This field is not mandatory. You could leave it empty.
Length of RIG_ID - Maximum 32 characters. Use English letters, numbers and symbols "-" and "_".

Example: rig-1

Settings for GMiner:

Cuckarood C29:

miner.exe --algo cuckarood29 --server mwc.2miners.com --port 1111 --user YOUR_LOGIN.RIG_ID
pause

Cuckatoo C31:

miner.exe --algo grin31 --server mwc.2miners.com --port 1111 --user YOUR_LOGIN.RIG_ID
pause

Settings for lolMiner:

Cuckarood C29:

lolMiner.exe --coin MWC-C29D --pool mwc.2miners.com:1111 --user YOUR_LOGIN.RIG_ID --pass x
pause

Cuckatoo C31:

lolMiner.exe --coin MWC-C31 --pool mwc.2miners.com:1111 --user YOUR_LOGIN.RIG_ID --pass x
pause

Settings for Bminer:

Cuckarood C29:

bminer.exe -uri cuckaroo29d://YOUR_LOGIN.RIG_ID:x@mwc.2miners.com:1111 -nofee
pause

Cuckatoo C31:

bminer.exe -uri cuckatoo31://YOUR_LOGIN.RIG_ID:x@mwc.2miners.com:1111 -nofee
pause

This pool works with rig rental services Miningrigrentals.com and Nicehash.com.

Settings for Miningrigrentals.com:

Name: 2Miners MWC
Type: Cuckaroo D29 (Grin) or Cuckatoo 31 (Grin)
Pool Host: mwc.2miners.com:1111
Workername (-u): YOUR_LOGIN
Password (-p): x

Settings for Nicehash.com:

Sometimes Nicehash exits the pool test with en error. Don’t worry. This pool is working with Nicehash every day. 2Miners is officially supported Nicehash pool. Just go ahead and proceed with the order.

Custom pool name: 2Miners MWC
Algorithm: GrinCuckarood29 or GrinCuckatoo31
Stratum hostname or IP: mwc.2miners.com
Port: 1111
Username: YOUR_LOGIN
Password: x

The profitability of mining

Let’s check the profitability of mining MimbleWimbleCoin MWC. The 2cryptocalc calculator will traditionally help you with this. First, let’s estimate the performance of the Cuckarood C29 algorithm for 300 NVIDIA GTX 1070Ti video cards. Here they will show the hashrate in 1890 Gps.

Profitability of MWC mining on Cuckarood C29

With the current network indicators and the coin rate, the calculator focuses on the equivalent of USD $196 per day in PPLNS mode and $ 193 per day in SOLO mode. But here is data for a longer period.

Yield of MWC mining on Cuckarood C29

It turns out more than USD $1300 a week with the specified hashrate. Sounds great.

And now let’s go to Cuckatoo C31. the Hashrate for it in the same video cards is 258 Gps.

MWC mining yield on Cuckatoo C31

And a long-term forecast.

MWC mining yield on Cuckatoo C31

Conclusion

MimbleWimbleCoin is a cryptocurrency with an eye on privacy that uses the MimbleWimble Protocol. The coin is younger than its famous competitors such as Grin and Beam, but it is already interested in features such as lower inflation and the mentioned HODL program.

The profitability of MWC mining may well compete with more popular cryptocurrencies and algorithms. So miners and crypto traders should definitely look at MimbleWimbleCoin and follow the further development of the project.And a long-term forecast.

MWC Links:

• Web: https://www.mwc.mw/
• Explorer: https://explorer.mwc.mw/
• GitHub: https://github.com/mwcproject
• Twitter: https://twitter.com/M_W_Coin
• Telegram: https://t.me/joinchat/IJTzpk33q3uBnautDTC5Sw
• Discord: https://discordapp.com/invite/eUNwqf3

WhiteBIT Links:

Web: https://whitebit.com