In this guide, we explore how to extract Monero from a Windows-based laptop. Before starting with mining, let's first look at the technology behind privacy-centric cryptocurrency.
This is the third post of our trade code series, if you have not already done so, take a look at our last post on how to write your first intelligent contract Ethereum with minimal coding experience.
Enter CryptoNote – The Privacy Provider
Monero (XMR) is a cryptocurrency centered on privacy based on CryptoNote technology that is designed to be more anonymous than other traditional digital currencies such as bitcoins.  In Monero and other currencies based on CryptoNote, it is not possible to tell which side has sent money and which party receives money on the blockchain due to a feature called "Ring Signature" which guarantees unsecured payments.
Consider that the size of the signature of the ring is three to better understand how this function of privacy works.
In Ring Signatures, a group of individuals has a secret, public key. The petitioner has a secret key with which he signs, but the verifier can not track down who the petitioner is. In the example of the underlying ring signature, you can say that Alice, Bob or Carol is the signer, but we can not pinpoint exactly who.
In other words, Ring Signatures can demonstrate membership of the signer in a group, but can not
Source: : CryptoNote)
Monero currently uses the CryptoNightV7 algorithm and is optimized for CPU extraction.
Monero can be extracted with a CPU or GPU, but not with ASIC. As such, virtually anyone with a computer can extract Monero.
How to Mine Monero
Since Monero's hard fork has made many software programs obsolete, the XMR-Stak that supports CryptoNightV7 is one of the few options available. XMR-Stak is a universal all-in-one miner that is able to extract coins like Monero, Aeon and other Cryptonight coins.
Before downloading it, make sure the Visual Studio library is installed correctly. You can install from here if it is not already installed. Download the XMR-Stak software here.
(Just a reminder: this guide is written during the extraction on a Windows-based system)
Click on XMR-stak-win64.zip to download it.
Open the zip file and extract the file. Open the extracted folder and then the XMR-stak executable file.
You will be asked to enter the door number; we will use 9000.
Then you will ask to insert the name of the coin you want to extract from here, enter the name, in this case we used "monero7" here
Then you will be asked to enter "Pool Address". You can go to http://minexmr.com/#getting_started, select the pool closest to you and select the port according to your CPU configuration based on the difficulty.
Then he will ask you for a username that is the address of the Monero wallet. If you do not have one, you can create one here.
The password can be empty; we just hit enter or assign a password.
The MineXMR pool does not support TLS / SSL, so we can enter "n" [no] here. Likewise, we do not want to use NiceHash or more pools at this time, so we can enter "n" in both cases. Now everything is set and the application will connect to the pool to start the extraction of the selected coin (In our case: Monero)
Modifying the settings of XMR-stak
Hashrate Result and Connectivity
You can enter h, r, c respectively to check hashrates, results, and connection.
Or, for a graphical representation, you can also use 127.0.0.1:9000/h as this will generate an HTML page. Here, 127.0.0.1 represents the local system and 9000 is the same port that we have configured in the previous steps.
The port number can be changed from the configuration file:
We have set all the elements to extract Monero and the current hash rate is 468.49 MH / s. There are threshold levels for most mining pools below which they do not send any XMRs to the portfolio. Suppose the threshold value is .1 XMR.
The block premium is 4.1 and the tick occurs every two minutes or 0.5 tick per minute. Thus, the time to extract 0.1 xmr with 60 hashes per second would be:
(.1 XMR / [(60 H/s / 445.49*1000000 H/s)*4.1 XMR/ tick *.5 tick / min)] / 1440 min / day = 250.29 days.
it would take about 250 days for the old rusty system of the author to extract 0.1 XMR or about $ 1.