Should you get an L3 ASIC to Mine Note?
I see this question pop up a lot in the Note Discord and on the Note Blockchain app. “I want to mine Note, but is it worth buying an L3? Is it hard to set up and would I even be able to get it working by myself?”
I aim to answer these questions honestly, without bias and accurately.
I want to mine Note, but is it worth buying an L3?
The answer to this question varies probably about once an hour. I myself have purchased two L3s solely to mine note because I believe the value of the coin will increase to cover the cost of mining, but beliefs aside, Exobyte has built us a great website to plug our numbers into and check to see if we can get any real profit from mining Note if we were to sell right away. I recommend holding onto your coins for a bit, but solely for profit mining we can check the site here https://profit.notebc.space/ as of writing, with one l3 ~0.5Ghs or 500Mh/s and a price of $0.12 per kWh we would see a profit of $2.24 daily. (thank you Digi-shield!)
I encourage you to use this tool and plug-in what you pay for electric to get an accurate read. These numbers will change frequently until regular volume is achieved which is why I personally am holding onto most of my coins for the foreseeable future.
Is the L3 hard to set up and would you be able to get it working on your own?
The short answer to this is yes, L3s are much easier, in my opinion, to set up and get working than a classic GPU miner
When you first get your L3, you’ll want to plug it into an ethernet cable and check you router to find the miners IP address. Once you have found your miners IP address, simply type it into your web browser. You should be presented a page that looks like this
The default login for the L3 is ” root ” for the username and ” root ” for the password. Once logged in you will be presented with this screen
From here we want to navigate to Miner Configuration where we will be presented with this screen
As you can see I have the pool information filled out for farm.cryptocrop.net and for f2pool as a backup. Pool 2 and Pool 3 are backup pools and Pool 1 is the pool you would like to actively mine. You will also notice I am missing the stratum+tcp:// for farm.cryptocrop.net. This is because with my miner only Pool 1 tries to add the stratum header to the URL so I have to leave it off for it to connect to the pool correctly. With My second L3 with blissz installed, I do not have this issue. Your L3 may need the stratum, or it may not. You can try both ways and check Miner Status to be sure the miner is mining on the pool correctly
A correctly configured miner should look like this from the “Miner Status” page
Here we can see the first pool is active and submitting shares. We can also see the two back up pools are alive and ready to be switched to incase the primary pool goes offline.
As you can see, it is quite simple to set up and get an L3 mining, and depending on Notes current price, it may even be profitable in the short term, and even more so in the long term.