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Have you heard of Primecoin? I promised in my initial post that I would get more into Primecoin. This cryptocurrency is based on computing prime numbers. It is not a SHA or Scrypt based algorithm. You want to mine prime throw your main CPU at it. This keeps Primecoin in the reach of the average Joe. I decided to get a virtual server. My current setup looks like it will produce about 1 Primecoin every two days at a cost of 36 cents per day. The big question is will this actually pay off?
It doesn't matter my investment for 1 month of VPS service is easily chocked up to having fun in my hobby and I was able to learn some Linux while I was at it. The smaller question is do you want to be a Primecoin miner? There was a time when solo mining would produce many coins a day. Today we are faced with pool mining for coin portions. I choose to start my XPM mining as an experiment using virtual servers at Atlantic. I chose Ubuntu Before getting started with the server though you will need to go to primecoin.
This will be your wallet. Like other cryptocurrency wallets it will take a little time to sync with the network once installed. Once installed you will need to go to the receive tab and make note of your walled receive address. You can create as many as you like and label them based on receive purpose. Now that you have the client taken care of go to a VPS provider and select a server to rent or you can do this on your home Ubuntu machine. Now get the source code and build it: The application will install without them but takes much longer.
Even so take a break after the last command in this section it's going to be a while. With the Mb VPS it is a long long hours while but if you don't see any errors don't stop the application. In this video I will show you how to do it both ways. Login as root and run these commands to install the dependancies: