BURST Mining Internet Usage
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I'm going to be a bitcoin miner and my question is does it require a lot of internet bandwidth to mine with a pool?? I'm gonna use guiminer with slush's pool I have.
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CPU mining is not a means to get rich in this day and age. Essentially, it's scraping pennies off of the internet per day, and if you farm a couple of old laptops together, it could be scraping a dollar or two of the interwebz. Mining For Cryptonex CNX 2018 there. However, I am of the opinion that if I have tech laying around, why not use it?
Plus, I am in a pretty unique situation when compared to other crypto miners. Since I lwork as a university English teacher in China, my apartment -- while a drabby place -- costs me no money. My employer provides a place to live where I do not have to pay for my electricity, and I do not have to pay for my internet. In short, I do not even spend money on energy costs most everybody else has to take into consideration when gauging a coin's profitability. For these reasons, I have been searching for minor alt-coins to CPU mine. Whatever I pull in, whether its ETC with my GPU miner or Burst with a 1 TB plotted drive, it is essentially 100% profit.
So, I ended up with Burst. I went through a few other coins first before I settled on Burst and am somewhat content with that choice.
XDN Boy, this coin was a load of crap. The kept changing the name over its history. Once, it was Duck Note. Then it was Digital Note. It had many different names.
Now, it's been delisted from Poloniex and good riddance. This was the first coin I ever mined, and I did so because it was remarkably easy using Minergate. Coins would pop into my wallet at regular intervals, and that was psychologically reassuring. Watching a balance go up in whole numbers and not decimals and fractions feels nice. And that's a noob's error.
Once I saw how many of these coins I needed to mine to get 1 US$, it was a little disheartening. Then, I noticed that Poloniex wouldn't even let you deposit them -- you could only buy and sell them on their exchange.
That alone was reason enough to pull the plug and move on. Monero Mining this sounded good in theory. However, in the end, it was the same problem as XDN, but in reverse. Using Minergate, you ended up just getting decimals. In the end, that was okay. Viacoin VIA Wyoming more. Monero can be traded after being mined.
It has a good value. However, I looked at my Minergate stats and did some rudimentary math. It would take just as many months to get enough confirmed shares to get anything of value as it would with XDN. Only, I didn't get to gleefully clap my hands each time a new coin arrived in my wallet. Actually, a new Monero coin would like take eons to come to fruition. I realized part of the problem was that I was using old computers and the processing power I was providing to the network just wasn't sufficient. Remember, I was not looking to invest in new tech.
I just wanted to repurpose the old computers I already had and never threw out or recycled. Not long after this, I abandoned Minergate altogether.
Dash I was pool mining through Suprnova while chasing this coin. However, the problem was the same as with Monero, even though I was using a miner employing BAT files and not a slick Minergate interface. At one point, at had four different computers working on this coin. Three of them were laptops, and one was the dormant CPU in in my GPU miner that is currently doing ETC and has done Zcash in the past. I quickly saw that employing a flotilla of old and new tech already on hand would not lead to a pool payout anytime soon. Dash was just too complex of a coin for my limited tech resources. So, I cut my losses and stopped.
Gridcoin I really, really, really wanted to like this coin. I admired its aim and the psychological pat on the back it gives you. Yes, you are helping science! You are lending processing power towards valuable research! You can help SETI search for alien life! If you are a sci fi nerd, and I am, this is a alt-coin that readily feeds into your imagination. And, I am not criticizing this coin at all or that appeal at all.
Some people swear by it and believe in it. As for me, I could never make it work. Part of my issue was the BOINC system (Berkeley Open Infrastructure for Network Computing). I had constant trouble registering the accounts needed, and I think part of my problem is always having an actively running VPN on my computer and the need to switch servers several times during the day sometimes for peak internet surfing efficiency. I live in China, and having a VPN is an everyday fact of life if you want to use the internet with little interference from the Chinese government.
I think the other problem was user error on my part. I am a man with two masters degrees in English related fields. Tech, programming, and figuring out how to make machines and computers work is not one of my strongest attributes.
Actually, I fucking suck at doing that. And yet, here I am in the crypto world, now. Burst Seriously, this is one of the most noob-friendly coins there is to CPU mine. Burst is so simple, a guy who could not C++ or Basic Language program his way out of a paper bag (me!) can make it work. That's the selling point to miners right there. The set up is absurdly easy, and if you use their online wallet, you don't have to bother downloading the blockchain.
The biggest pain is plotting your drive before mining. Unlike most other coins, Burst uses free and available memory to do its work. So, I had a 1 TB flash drive laying around, but it took like a day to get the drive fully plotted and ready to use. Basically, the Burst wallet will write files onto the GBs of space you allocate for it. Then, like every couple of minutes, the decentralized network uses that space. The higher amount of GB you allot, the longer it takes plot the drive. But, the more memory space you give the network, the higher rewards you are paid.
While I have had no trouble with Burst, a friend of mine was employing a 8TB drive and has given up. Apparently, something was causing his computer to crash and freeze -- even after he ceased mining and disconnected the plotted external HD. Again, I have had none of his trouble, but I keep it in the back of my mind when I think about investing in more external HD drives to go after this coin. Yet, the temptation is there to get a small armada of shitty, discarded computers to get to work for me. So, after about five days of mining, I have earned a little over a dollar with this particular crypto coin.
Again, that is not sexy, and it certainly the swooning excitement that -- say -- watching ETC go from less than a buck to to somewhere 15 to 17 dollars per coin has been. And dear god, the price of original Ether right now?!?!?!? Still, remember, I said I have no electricity bills, and my internet access is free and provided to me. Mining Burst right now is letting pennies fall into my lap.
Over the course of time, even pennies add up. So, maybe Burst is now my digital penny jar most people have their kitchen counter or on top of their fridge that they drop loose pocket change into?
I think I am going to let that happen without major complaints. Free pennies are better than no pennies. Disclaimer: This is not investment or mining advice.
Do not take it as such. It's just the opinion of of noob who makes his day to day salary teaching English, not computer science. Please, remember that.