How to buy HDD and pay for its cost within 3 months fully

in #mining7 years ago

Electronic equipment can be quite expensive, especially when buying the latest strongest pieces of equipment. New GPU, CPU or HDD can be worthy investment if one is using computer for business since it can cut the cost of time on certain tasks. It was only in past few years that it is possible to effectively pay off the bought equipment by doing mining process on crypto currencies.

Mining

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Mining is one of few processes that allows creation of crypto currencies and allows supply of each coin to increase. Miner can help the ecosystem of crypto currencies by allowing piece of computer equipment to solve difficult equation/pattern, confirm transactions of other participants and thus gaining a bit of reward for participation in terms of crypto currency.

The problem however comes in cost of resources to maintain the mining process, the electricity. Older mining processes that are running on GPUs are simply very expensive as electricity bill can run quite high to maintain the mining operation, which makes it difficult to sustain it with stable turnover from month to month, which forces miners to approach it with strategy (selling only when price is high and hold coins if price is droping). Single mining GPU can easily produce 50 USD cost of electricity on such mining operation.

If GPU mining operations were much cheaper on mining costs it would be far easier to sustain mining ecosystem of people that participate and improve the efficiency of transactions, however there is crypto currency that does solve this problem very efficiently up to 95%.

Burst coin to the rescue

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Burst coins mining process runs on HDD instead of GPU, which allows far lower electricity consumption to run mining operation.

Major advantages of HDD mining over GPU

There are few major advantages that HDD mining has over GPU:

1.Cost of equipment
Equipment cost of HDD is much lower than GPUs, its well known fact that HDDs are one of cheaper equipment parts in computer. Single decent GPU to run competitive mining operation will be in cost of 300-400 USD per piece, while HDDs go within 100-200 USD achieving similar competitive rate of income.

2.Electricity cost
HDD consumes between 15-30W in general, while GPU consumes 150-300W.

3.Use of equipment after/if mining is canceled
Personally i have damaged GPU pretty decently running mining operation since it was constantly on 85 degree heat, which now results that GPU produces black rectangles when under strain of rendering something difficult.
HDD have very low to none long term damage applied from HDD mining.

The main difference comes from the use of equipment after the mining is finished, generally if miner buys 3 GPUs to run mining, simply 2 of those will be useless for common use, meaning that all it can be done is to sell them, which leads to loss of value at least 30-50%.
HDDs however are useful since extra space is always welcome and even if one does not need it today he or she most likely will need months or year ahead. File sizes of data keep getting larger and the need for space is increasing every year, that is simple fact.
My suggestion would be to buy external HDD instead of internal, this way it leaves flexibility of equipment use later on.

4.Use of computer while mining operation is running
GPU mining operation will use a lot of CPU power and most importantly it will severely slow down computer use, for any heavy demanding tasks it will be impossible to use computer, so in general it is meant to use GPU mining on extra computer that one is not using for common use. On HDD mining you can easily perform mining while doing any other tasks, since all it consumes is 10% of CPU and pretty much leaves all functions of computer functioning well.

Heat
It might not be problem in cold environment, but if you live in hot country cooling of GPU equipment will be quite a problem and hassle. HDDs basically have no such problem since they never run into problem of overheating on mining operation.

Find best possible HDD in terms of price / capacity ratio

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In order to pay for bought equipmented as quick as possible it is important to purchase HDD as cheap as possible. 150-250 USD per HDD will be solid price for 8TB size.
HDD in size of 8TB creates currently around 100 USD worth of coins per month (sold at current price), which pays for equipment in 2-3 months, leaving you after that passed time with well functioning extra HDD space, which is always useful.

Personally i bought 2 Seagate 8TB external desktop HDDs from Amazon and was pretty happy with purchase. Cost was 170 USD per piece.

Start mining

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I will not go in details how to start mining, there are plenty of Youtube tutorials on Burst coin mining, in general it takes about a day to figure all the parts on how to set it up.

Sell coins to pay for electricity and initial investment for HDD

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It is up to miner to decide on when to sell coins, it can be done either every day, every month once, or wait for possible higher price of coins and sell then. My suggestion would be to at least sell portion of coins to cover electricity costs, which are in range of 1 USD monthly to run operation (could range a lot depending what rate you pay for electricity).

At the end of 2-3 months you are left with additional HDD space.

Era of machine work

Automatization and work of machines is not new concept, however it is only in recent times that it is possible for computer hardware to pay for itself in liquid and relatively stable way as long as miner picks okay coin to mine. This allows faster consumption on computer parts, increasing the production of industry that provides computer part, meanwhile the computer hardware contributes its work and helps providing functionality of blockchain ecosystems. It is cycle where all sides are receiving push forward, and its defenetly not just a consumption process that harms the environment with electricity consumption.

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100 a month is not bad.

Burst mining is super profitable especially with the price of burst only at 600 sats!

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