Burst Coin mining with your spare Hard Drive capacity (low power & geared for small miners)
BurstCoin
Mint Burstcoins in an environmental friendly way using your free disk space. Low power mining using the spare capacity on your hard drive.
Burstcoin Mining
If you've ever thought about having a go at mining your own supply of coins but worry about soaring electricity bills, global warming and burning out those precious chips on your one and only laptop, (the one which is your lifeline to the world & the Steemit community) you could become one of Snow White's Seven Dwarves with BurstCoin. (They were miners.)
"What Burstcoin Say"
How to mint your own digital money and secure the network. The BURST mining system is unlike any other coin in existence. It is based on using your existing free space on your hard drive, to mine coins. Because of this, it is naturally more decentralized, and very low on power usage. The difference between mining and simply running your computer not mining is so negligible, you will not notice a difference on your power bill.
Due to the nature of the mining, and the fact that it is mineable most efficiently and cost effectively mined on consumer grade storage hardware, the coin lends itself to being much more decentralized by design. Everyone has free hard drive space, and purchase of another drive specific for BURST mining, is a very small cost. Since the mining process itself doesn’t take much power (as hard disks only average <5W power, just like charging a mobile phone) it makes sense to mine just because you can.
Burst is for everyone.
ASICS can never be more efficient than a home user whose spare HDD space is mining in the background when their computer is turned on.
This opens the door to the general public in a way that had never been possible before with other more ‘traditional’ style mined crypto-currencies. The mining process is very easy on hardware, and to date not a single piece of hardware has been reported to have issues due to the BURST mining process running on it. This means that you won’t have to worry about burning up your CPU or GPU like you would if you were mining the other types of algorithms.
How much can you earn?
There is no good way to calculate what you are going to earn today or tomorrow. Most of it is luck. You can go months without finding any blocks and suddenly you find 10 blocks in a single week. Everybody has good and bad days and there is no way to predict them. To get an estimate of how much you earn long term you can go to: http://burstcoin.biz/calculator. To use it you simply input your mining capacity. You don't need to change any of the other numbers. They are calculated from the last block. You are able to change them to see how you are going to perform in the future.
info.
The information in this post is formed from my own opinions & selected extracts from BurstCoin's website. I recommend anyone investing in or mining coins to conduct their own research. Relying on other's tips is not necessarily a strong foundation for growth. Investments can go up as well as down ;)
Thanks for the post. I have been looking into STORJ and SIA and I had BURST in my side-view but now you're compelling me to look at that as closely as the other two. Thanks for this post and any other links to comparos you can drop under this comment as well :)
hi Writewords. Thanks for the reply. I think SIA & STORJ both have interesting business models and there's probably room for both of them (and) more as storage providers in the ever growing market for online file storage.
BurstCoin is also interesting as a BC project in that the low power mining approach uses a totally different process which is innovative and given the heavy impact on hardware / high energy cost, is potentially attractive as a gateway to mining for people who (aren't mega techy) and just have a couple of spare giga / terrabyte lying around on a half decent pc !
here's wiki's breakdown of BCN
https://en.wikipedia.org/wiki/Burstcoin
nice coin
yeah nice project.. kind of cool thinking !
why cool thinking?
The idea of low energy mining on ordinary pc's using a spare block of hard drive to process a block (while running silently in the background) instead of running a superhot GFX card stack is potentially attractive to a lot of new users, because it means anyone in theory can mine. As a gateway into mining, it should help a new generation of would be miners, take BlockChain into the future. It's a really innovative way of thinking about using BlockChain.. in my humble opinion.
Thats a pretty awesome idea by Burst. It seems that for the moment it's not that profitable to mine, but I am sure in the near future when the price of Burst will rise it would make a good one. And why not mine with hdd when practically is for free ?
Thanks for that.
yeah I agree, it's pretty low cost mining in the background when you're... doing this ! if burst price lifts then your 'almost free' mined coins will jump too :)