How to mine Verium
How To CPU Mine Verium Reserve (VRM). Wallet Setup & Mining Guide
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in this video I'll be showing you how to
set up and get mining with varium so
varium or varium reserve as it's
sometimes called is a secondary chain
that is connected to the very quaint
blockchain so this is quite a cool
concept first come very quaint and that
is designed to be a fast lightweight
blockchain so it's cheap to use and a
quick way of sending transactions
backwards and forwards but soon after
the developers realized that they wanted
to add more value to the to the network
so what they decided to do was to add in
a secondary chain so this chain is a now
is a binary chain so the secondary train
is the varium blockchain and by adding
on this secondary chain what they wanted
to do with the secondary chain was to
add a slower bulkier and more costlier
blockchain so that way the two of kind
of counterbalance out each other so
you'd have a lightweight and fast
blockchain on one side and then on the
other side you'd have a slower but more
valuable blockchain and but by combining
the two the two ideally worked together
balance each other out
and have a good offering for full of
people so you can send five transactions
but at the same time you can also have a
good store of value for the future so
one of the primary reasons that I'm
going to showing you this coin today is
because it is a CPU minor bulk when
that's one of the primary reasons I'm
showing it with you so this coin is a
sakra system and it's also GPU resistant
I haven't found any other sources of a
GPU miners or anything available the
only one thing to make you aware of is
that it can be mined by a single board
computers so things like these Oh droids
and raspberry PI's and that's one of the
reasons that I discovered it is because
I was reading this upper thread which is
this building 600 cores supercomputer
so this guy thought went for the process
of building these single board computers
using these Audrey NotI ports and
Saturday who's gonna mind very in
reserve using their self so that's how I
discovered it and it's quite an old
clients been around for a few years
taking a look at a queen market cap you
can see it's currently trading at one
dollar 85 has been quite higher ordering
this what the main and pump over
December and so it's kind of about fair
value where it is now kind of that yeah
I would say a reasonable price at the
moment taking a look at the official
website and this is kind of the binary
chain explained see if you just look at
this infographic here it kind of shows
you how its work so you've got the very
coin chain which is the fast blockchain
lots of transactions going through lots
of box going through effectively and
then on the right hand side you've got
the varium Reserve which is the slower
blockchain and then the two are linked
together so like I say very m is a CPU
only my normal Qin so it's got some more
details here regarding the Qin but the
main feature that I really want to share
with you guys is that it's a CPU
exclusive and that's one of the things
that I wanted to show you take another
quick look at the stats for this coin
you can see the current supplier Network
hash and the current block reward it's
also a block time which is just under
four minutes ago you can also see the
network difficulty just making you aware
of these points at the time of recording
so you know if you guys are watching
this video in the future you can compare
to this and then see how yeah you know
things compare over time so let's take a
look at the wallet and I'll show you how
to get started at mining with this quom
I'll show you how to install the varium
reserve wallet or fault as they call it
and how to get started with the miner so
from the official website I will link in
the description if you scroll all the
way down you'll notice there's two
wallets one is for very quaint and one
is for very m and this is the one that
you want the very m want it so if you
select it and then download the one
that's appropriate for your system I'll
be downloading the windows vault 64-bit
I will just say that to our downloads
from the Downloads folder we can run the
wallet directly so it asks us for an
install location I'm just gonna close
the browser in the background there so
we're just gonna go with all of the
defaults so it's completed us out and
we're gonna leave the checkbox ticked
and run the variant for the first time
so click finish he asks us if we have
any an old wallet that we want to import
which we don't so this is a cool feature
of this varium reserve what it have not
seen on many other wallets but what it
does is it automatically downloads a
bootstrap blockchain file so that it
means that you can get started with the
one out much faster than downloading the
blockchain manually so it's a much
faster process so we're gonna leave that
to download it there is a tick box that
says installed new variable comp file we
don't need to worry about that because
we don't the one that we have is the
default one is it's completely fine so
you don't need to check that we just
wait to these downloads and then we
should better hit the next I think that
restarts automatically as a matter of
fact
so I'm just going to close this part
because it did say it's going to restart
and I don't think it will last the
second window is open soldiers let's
just let it open up
yo Keem says open up there okay so we're
back Connor to the beginning effectively
so we need to enter a pass phrase for
our wallet so it asks for a password of
ten or more characters or eight or more
words so choose the passphrase that you
know well or write it down offline and
keep it somewhere safe I've got one I'm
just going to copy and paste it into
there and we select okay
but well it will just close and reopen
again just to encrypt the wallet and
star
so now you can see that the what it has
restarted and it's asking for our
passphrase so I'm just going to paste
that in there and slip okay so this is
kind of using the wallet for the first
time how it will look to you guys you
will see the synchronizing with the
network so ideally you want that to be a
hundred percent it shouldn't take very
long at all I'd probably say within
thirty minutes
you should be synchronized with the
network and the bottom right hand side
you've got two connections this would
increase over time if it's not
increasing then you just wanna close in
sort of reopen and that wallet and see
how it goes on from there just check
your firewall connections etc but it
shouldn't take too long
like I say probably out thirty minutes
you should be all up and running and
fully synchronized just while that's
going through I'll just show you a few
other basics or the wallet so it's
really very much just like a normal QT
will it hopefully you guys are pulling
fairly familiar with those so you can
enter an address and send your
transactions out you can create a
receive an address like this one here
transaction history
there's none at the moment and if you go
by status there you kind of basic
operations as I'll show you in just a
second once the block chain has
synchronized I'll show you the mining
process so we here we have what's called
the variable so this is the varium like
a cutie wallet but it also has a built
in minor to it to help you get started
so the minor is kind of a solo minor it
mines directly to the wonít connection
there are other miners available and you
can also do pull mining but I'll be
doing that in a upcoming video so this
is just a kind of a quick and easy guide
showing you how to get started so once
the very own vault is installed and the
blockchain has been synchronized at this
point you're ready to start mining so
it's very simple on the bottom
right-hand side here you select your
number of course I have a quad-core
processor it's a Intel i5 6600 K and
it's overclocked to four point
four gigahertz so just didn't knew that
so you kind of got a reference point
normally you would use one less korfin
is available but in this case of order
tested it and kind of got the best
results if I use all of the cores and
then just click on start there's a
warning there but just told you to use
one less core then you have looking good
okay
and it starts the miner so we'll just
give it a minute to catch up and get
with runnin okay so the miner has been
running for just a few minutes now and
you can see in the mining statistics
section we've got a hash rate so it's
hashes per minute and we get in nineteen
ninety four so just under two thousand
previously when I tested it I was
slightly over two thousand hashes per
minute in the second column you got this
mind blocks so this is kind of important
for you guys to know so I'm currently
got a 20 day block time or the expected
amount of time before I find a block so
what this mean is if I leave this
running within 20 days luck permitting I
should find a block and my block reward
would be three point eight one at the
moment so I leave it for 20 days and I
would get three point eight one varium
so in terms of profitability for a lot
of you guys it's probably not going to
be profitable strictly speaking if you
mind with your CPUs but what I would
recommend is that if you mind perhaps
with a single core Fred just leave the
machine running in the background while
you do your normal kind of day-to-day
business on your computer and let should
get you some rewards over time without
having the extra costs of your
electricity contributions and things
like that you just be one in the
background and if you can pick up a few
queens and I'm sure you guys that'll be
good for you guys so I'm just going to
stop that now if you guys are interested
in seeing what your typical stats might
be for your hash rate there is a very
good Google document I'll link it in the
video description and on here you can
see the hash rate and so it's all hash
and name etc yes there is some other AI
fires but that isn't appear to be at
6600 K like mine well so but you can you
get the idea you can look through find
your CPU and then you can work out what
your hash rate is a moment in the
description for you guys okay so this
was the video of how to get started mine
of areum reserve using the built-in
wallet miner if you're interested in
using the additional miners such as the
CPU optimizer or you're interested in
poor mining and check out my next video
where I'll be covering those in a lot
more detail so thanks very much for
watching hopefully you like this video
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very much watching I'll see you on the
next video
