In March 2018 I decided to try an alternative method of revenue generation on my blog. Most websites generate revenue by either having sponsored posts, advertisments or affilate links. I've tried these and have had some fair success, but I'm always looking for alternative methods too. Making a little extra money helps pay my bills, helps me travel and helps create more content for my blog. It's a win-win situation for myself and my readers.
Normally I wouldn't write a page discussing this alternative method of revenue generation, but because it is somewhat controversial I decided it was necessary. It's called "crypto-currency mining".
What Is Crypto-Currency Mining?
Crypto-currency is like normal paper currency, but it's digital. Think of it like tokens in your favourite game, only that they can be sold for real money. These "tokens" are generated by doing complicated mathematical questions. For the most part these equations are too complicated for the average computer to complete, so special computers are needed. You may have heard about these "mining rigs" that are used to create Bitcoin, the most popular crypto-currency.
Other crypto-currencies aren't so popular, so the mathematical equations needed are much more simple and computers can solve them easily. One of these is called Monero (XMR), and is a very popular crypto-currency. At the time of writing this, 1 XMR is worth $360. However, to mine 1 MXR takes a lot of time. The more comptuers that mine XMR, the less time it takes. This is where CoinHive comes in. CoinHive offers a service where people can use their website visitor's computers to mine Monero while on a specific website. This mining process does not install anything onto your comptuer and only uses background processess.
Is it Safe?
Yes. The script does not track your private information, it does not track your keystrokes, it does not track your location, it doesn't do any of that. Instead it just solves mathematical equations and in turn provides me with literally fractions of pennies. It's completely safe.
My Anti-Virus Disagrees
Unfortunatly, not all anti-virus programs like CoinHive's methods. The leading anti-virus program Malwarebytes wrote on their website "We do not claim that CoinHive is malicious, or even necessarily a bad idea. The concept of allowing folks to opt-in for an alternative to advertising, which has been plagued by everything from fake news to malvertising, is a noble one. The execution of it is another story." They said this because many programmers use the script to anonymously mine currency off people's computers, and some would consider this a breach of privacy and trust.
CoinHive understand this and has implemented an opt-in method where people will only have the script run on their computer if they physically allow it. This is the method I use on my website. I understand not everybody is comfortable with it and I don't want my readers to feel I'm going behind their back and using their computers without their permission. However, because of this, your anti-virus may trigger there is MalWare on my site. CoinHive said they are working with anti-virus programs to stop this.
Okay. I Get it. But I don't like it.
That's okay. You could either decline the pop-up I have on my site, or you can click here and you won't see any pop-up ever again. I understand some people might not feel comfortable with it so I want to give people the option to completely opt-out.
How Much Money Have You Made so Far?
The value of XMR changes almost daily, just like the value of USD changes daily. As of March 11, 2018 I have made $1.03 CAD off my Monero. If I don't update this value and you're curious, email me and I will update it.
If you have any questions, concerns or want to know more about it, please email me too.