Amazon EC2 Cloud Mining Guide

[ManeBjorn]

Good to know.
Thanks again.

[itsik78]

That's exactly what I was doing before I sold all my MMC.

However why would you mine if you can just buy the coin cheaper?

Also you will not get the same results as the profit calculator suggests.

I spend $4,000 on EC2 spot instances mining MMC.

I would've been better off just buying the coin.

Actually in the beginning it was quite profitable but not anymore.

That's exactly what I was doing before I sold all my MMC.

However why would you mine if you can just buy the coin cheaper?

Also you will not get the same results as the profit calculator suggests.

I spend $4,000 on EC2 spot instances mining MMC.

I would've been better off just buying the coin.

Actually in the beginning it was quite profitable but not anymore.

Currently I'm getting better results than the calculator showed me and it is profitable for the 1.5 hours I'm mining.
But I guess it could be luck.
I'm mainly doing it now for about 12 hours with 30 servers for a quick test of profitability.

[itsik78]

This server usually costs around 27 cents per hour.
At this price and current rates it's around break even, but since I believe BTC and MMC will both go up, I'm mining with a few servers.

[ManeBjorn]

Thanks this is a very easy setup.
I will put together some money and try running this as my free service does not qualify for this.  I am not sure why I have 3 yrs for free from my old job and I hosted programs and all sorts of stuff from it for free.
About how much per month does it cost you?  I did ask this of another user as well.

[itsik78]

Hi there,
I saw a couple of posts asking for this, so I made a quick AMI (Amazon Machine Image) + tutorial for easily mining MMC on Amazon EC2.

Note that it is your own responsibility to calculate the profitability of such mining in relation to the current spot price on Amazon.

Instructions:
1. Login to your AWS management console and choose N.Virginia (usually cheapest), Oregon or N. California

2. Choose "AMIs" from the left side menu.

3. Change the "Owned by me" filter to "Public images" and enter the AMI id according to the region you selected:

N. Virginia	ami-0367636a
Oregon	ami-2e98fa1e

N. California
ami-b07c40f5



4. Verify that you see an AMI called "MemoryCoin Mining Rig" with the corresponding AMI-ID.

5. Right click it and choose "Spot Request".

6. On the left Choose "Compute Optimized" and then on the servers list choose cc2.8xlarge and click "Next: Configure Instance Details"

7. Choose the number of instances you want to run and the maximum price per hour you are willing to pay. To calculate how much you should pay use Agran's profit calculator. This server generates approx. 34 HPM. Also take into account the current low BTC rate and the very low MMC rate that I believe (This is not an advice!) both would go up significantly in the near future.

8. Review and Launch -> Launch.

9. Create a key pair if you don't have one AND SAVE THIS FILE as you will need it to access the server. Mark the "I Acknowledge..." checkbox and choose "Request Spot Instance".

10. "View Spot Requests" and wait for your spot request to be fulfilled.

11. When it is fulfilled you can choose "Instances" from the left side menu and wait a few seconds until the server initializes to see it in the list.

12. Connect to the server either via Putty (after using PuttyGen to convert the key to a .ppk file) or directly in the browser via the Java SSH client Amazon offers or any other SSH client of your choice.

13. Run "top" and you should see yam at the top of the list. If you do, all is well and all that remains is to edit the cfg file with your wallet address and restart the miner. Click ctrl+c to quit top.

14. Run: "sudo nano /yam-mmc.cfg" Enter your wallet address instead of the one appearing in the file (shift+insert is paste in linux).

15. Click Ctrl + O to save the file and then Ctrl + X to quit nano.

16. run top again and note the process number of yam (the number under "PID" on the left. Ctrl + c to quit top.

17. Run "sudo kill -9 <PID>" where <PID> is the process id of yam you've noted on the previous step (for example: "sudo kill -9 720")

18. Now we're all set to start mining! Run: "sudo /etc/init.d/mmc-mine.sh" and note the message that says you can see the progress by looking at "/var/log/mmc-mine.log"

19. You're mining MMCs! As the message says, you can view the ongoing progress by checking the log file. You can do that, for example, by running: "less /var/log/mmc-mine.log" (Click shift+f to view the ongoing log).

20. You can safely quit the SSH window and it will continue mining until your spot request is terminated.

21. (This is what I do and is not an official advice  ) Don't sell your newly acquired MMCs for low!!! Keep them to get more value.

Enjoy!