Time To Help The Planktons: Mine SBD For The Red FIsh

in #steem3 years ago (edited)

Here is an opportunity to help out the smallest account on the STEEM blockchain.

I am a believer that to be successful on STEEM, it requires a long-term view. Plus everything we do builds upon itself to compound later one. This can have a magical effect on a wallet down the road.

We all know it is difficult to amass SP when one is getting started, especially if one lacks the ability to buy SBD.

I came across an interesting application that we can all turn into a positive for the smaller accounts. With the Minnow Uprising slated to start July 1, this might also be a terrific way to help.

MinnowSmith was developed by @spotted. This is an application that allows people to mine SBD. Yes you read that correct, people now can "mine" SBD.

Naturally, we know this is impossible since the STEEM blockchain does not have mining. What is actually happening is one is mining another token which @spotted then uses to purchase SBD on the open market.

As you can see from the site, it is a rather basic concept. One simply enters the name of the STEEM account in the box, hits start, and agrees to the use of the computer's processing power to mine.

It is nothing more than browser mining. Yet unlike some of the unauthorized browser mining scams like with SIA, this is voluntary.

Before going any further, I will state that the odds of a single account amassing a ton of SBD through this is not likely. However, we can really help out smaller accounts. Having this run in the background of our computers really costs nothing. Yes it will use up processing power but I found that for most applications I use, my computer has enough. You can also run this on an extra computer/laptop that is laying around.

Based upon what I can figure out, the daily payout of SP from the inflation rate is as follows.

500 SP = .025
250 SP = .0125
100 SP = .005
50 SP = .0025

As you can see, those accounts with 250 SP and below are getting very little. This is coupled by the fact that their votes are often dust.

To see this in action:

https://steembottracker.com/steemdash/?account=username

So here is my idea:

To start, every Plankton goes to MinnowSmith and starts mining for him or herself. Just enter your username and hit start. This will require disabling an adblocker or whitelisting that site for it to run.

The second part of this is that everyone who is a Minnow or above, does the same thing except we do it by entering the name of a Red Fish. The reason for this is because when you look at the "mining" payout compared to one's account size, it is really a minimal difference at best.

We stage a Plankton adoption program.

With the inflation payout small for this category of Steemians, we can expect a 50%-100% (or more) increase in the daily SP going into their accounts. Now bear in mind, MinnowSmith pays in SBD which needs to be converted. It is roughly 1 SBD for 80% STEEM. That said, it is not difficult to get .005 SBD (.004 SP) per day off a decent computer. This about doubles the amount for a 100 SP account.

One way to further this is for each Red Fish to follow @spotted. This will increase the SBD one makes. Presently, it is 250K hash for 1 SBD. By following, that number drops to 237,500.

The payouts are daily as long as one reaches .001 SBD.

Here is the post announcing this project by @spotted.

https://steemit.com/steemhunt/@spotted/minnowsmith-earn-sbd-right-in-your-browser

I like the idea. We can use our collective computing power to help the smallest accounts among us. This seems like a novel way to spread a bit of love among them.

I did try it last night before going to bed. Running on an old computer and a tablet, I was able to get almost .004 SBD for someone in under 10 hours.

Getting together to help each other is what I believe STEEM is all about. Here is another example of something simply we can do that will assist others in moving forward. Individually it won't amount to a ton yet a couple people mining for the same Plankton can double the inflation rate of the SP going into the account.

Collectively, we can make a huge difference.

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I think its just coinhive they are using which mines monero and then you do an exchange rate between monero and whatever currency you want.

Exchange rate at the bottom of the page says The current rate is 250.000 hashes for 0.001 SBD whichis pretty rough all day of running an a boat load of electricity cost will land you about $0.10 of SBD and a nice fat electric bill of about $2 a day for an i7 CPU

Can't agree more with this statement. Also climate change is a serious issue, we should not waste electricity.

You are One of the most noble steemians I have come across and I love how you're always looking out for minnows and planktons. I will definitely look in to it, eagerly waiting for the minnow uprising in July as well.
Xo

Minnows riding on horses against the whales on July 1. @stackin at the front with his axe 😂

WetDeadlyBlacklab-size_restricted.gif

This is mining JSEcoin?

I honestly don't know @mattclarke.

I just came across this yesterday, gave it a try, and found it worked. I know one who got paid so the SBD is being distributed.

Actually you would mine XMR and this get's converted to SBD to payout easily. :)

Hi @spotted.

I will leave that to the experts. I simply will use your program as established. Hopefully a ton of people do the same and help out all the smaller accounts.

.005 or .008 SBD isnt a ton but when one has 15 SP total, that can help over time.

I like your roadmap and look forward to seeing what else you develop.

Thanks for your support again @taskmaster4450,

actually it would also be a great way for people who don't need the payout to mine to a specific account, like the new @minnowsmith or another minnowsmith.fund account. And everytime a user mines to this account, the shares are split out to all others.

What do you think about this?

I think it a great idea.

There are hundreds of thousands of discouraged accounts on here. If we can get even a fair number of them to start getting something in their accounts, that could have a huge impact. This is really true for the smaller account.

This initiative has potential. Anything that can be generated by the community and passed out among the community is a great idea. In this day and age, most in the west have at least a couple devices to mine upon.

It would be great to get 500K devices mining for the betterment of the STEEM blockchain. Plus, that soaks up some of the lquid steem on the markets since SBD most likely will be converted to SP.

Thanks. :)

Yeah, agreed, 500k would be unbelievable. but something like 50-200 would be also great already! :) Yesterday already 20+ ppl were involved. :) https://steemit.com/cryptocurrency/@minnowsmith/minnow-smith-payout-for-2018-6-24-0-143

today is even better after aggroed and acidyo resteeming it. :)

Hey @taskmaster4450,

thanks for writing this very detailed article about how to get started with MinnowSmith. I really appreciate it and looking forward to a bigger user base and to find way to increase the payout. Everyone can also put the name of another steemit account, in case he wants to support some minnows (so he will get the payout).

In the meantime I've also created it's own steemit account to make it easier to separate concerns for me(I will announce this in todays payout). I'll also plan to give another bonus when a user likes the daily payout post. (I'm going to implement this the next days for sure.)

Cheers.

Thanks for the update @spotted.

This is a great initiative, from what I can see, for the Red Fish. I am always willing to help spread the word about those things that help the smallest of accounts along. I hope that hundreds read these words and start using your application.

You seem to be moving quickly with your updates. That is very impressive. I noticed you hit a couple things on your roadmap from the first post to the second. That is good. Keep improving and upgrading as you go along.

I have you on my follow list but things can get lost. Feel free to drop some tidbits in the comment section so I can keep up with what you are doing. I like projects that easily can help so many.

Hey @taskmaster4450,
I just published another article about it with the new account: https://steemit.com/introduceyourself/@minnowsmith/minnowsmith-earn-steem-dollars-in-your-browser-and-help-the-minnows

Can you check it out please? :)

Thank-you for looking out for the best interests of the little guys! It's a pleasure to read your articles. And, to try out the dealios you suggest. So far I am enjoying mana and presearch by your suggestion, minnowsmith is next up!! Have a wonderful day!

Thank you for the kind words @yagojill.

We are in the Age of Abundance so there is no reason to not spread the different ways for all to enjoy. Passing it on is what helps others. It is the poorest among us who can be impacted the most by the least. If we can keep figuring out ways to uplift them, all will be move forward at a fast pace.

Can i run it on my phone and laptop? Do i need to be concerned about it crashing anything? So new to this!

Thank you for this useful information. Has already started to use on 3 of their devices. Good luck to you and Love.

Спасибо за эту полезную информацию. Уже начал использовать на 3-х своих устройствах. Удачи Вам и Любви.

To be honest I don't understand the concept. Why would one earn more when having an higher amount of SP?

What I do know is that you should not do this with an old laptop. Cause is you have 500 SP you will earn about 0.75 SP per month. While your electricity bill will be many times higher. Most likely you pay $15-$40 for electricity.

yup we are just a small fish in a huge pond

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

Thank you!
I make a try.
EDIT: 14H/s is a good?

What settings do you run? have you tried to play around with these? :)

3 thread, 80%, i use my pc other things too :)
So, it was a good try, but i need another way :D

As a "plankton" myself, (having only joined SteemIt less than 3 weeks ago), I am intrigued by this. I came across @taskmaster4450 in a postᵃ on the SteemIt channel on Minds.com, where I have been active for the last few months. My thanks to anyone who is offering to help us n00bs get established on SteemIt. I think the concept of "pay it forward" should go hand-in-hand with this, too.


[ᵃ] https://www.minds.com/newsfeed/850695693315665920

Thank you for the heads up on this @taskmaster4450.

I'm going to give this a go on a friends account who has given up and walked away. Maybe they'll come back if they see some SP being added. 😊

Holy cow this is awesome for redfishes I will have to investigate more

This would be especially helpful for people in poor countries. Steem is SO valuable to them. It can buy them so much.

Another project I've found that can help a lot is @shadowbot. The more SP you earn, the more you can earn in shadow rewards.

Thanks for the info, I'm gonna try it out starting today. Resteemed. Hope it reaches a lot more people :)

You're a badass Steemian taskmaster4450 keep it up man. We appreciate you.

@nateonsteemit I just signed up....let's see how it does for me!

After three days, I think I'm around 0.01 SBD. Be sure and follow instructions in the transfer memo and in posts. There's bonusses that can add up :)

I meant signed up for shadowbot. I’m already using minnowsmith!

Oh, hell yeah! Are you on Facebook? I can add you to the trollbox. The guys that made SB are there. We talk about all kinds of shit and all support each other here on steem.

Yeah, please do! I’m under the name Chris Blewitt. Add me today! Want to be involved!!!!

Thanks for the heads up about the site.
And especially for the very generous idea of not mining for yourself, but for people with smaller accounts. I think it’s a great idea and I’m going to set it up later today.

@pretty.dorky, you’ll be my first adopted red fish while I give this system a try. If you read this, follow @spotted for me, and maybe set up the mining system on your own PC too. ;0)

Hey @simplemike,

great that you are willing to help another minnow with mining something for him. That was also an idea that I had in mind. Everyone has a computer to help a little bit the smaller. :)

To be honest, it was not my idea. It was something @taskmaster4450 came up with in one of his posts.
I thought it was a great idea, though :0)

Always trying to help others!
Unfortunately my SP doesn´t allow me to be a part of to many things, but this concept of "mining" and then boost someone's account is incredibly kind from all the participants...

Albert Einstein is said to have called "the power of compound interest the most powerful force in the universe."

Great thinking and an amazing project to boost the distribution of our token.

Seems interesting... I am starting now. Let's see what happens. Is there will be any effect based on our SP? @taskmaster4450
Thanks for the information.

The rate of mining has nothing to do with your SP...it has to do with the processing power on your computer(s).

As SBD is earned, a little bit each day, that can be converted to STEEM which will increase your SP.

oh.. I see thanks.

One more thing.... @taskmaster4450 what is 'balance',
showing on that site?

That is the number of hashes mined.

One needs 250K to earn .001...as the amount goes up throughout the day, the payout will change for each 250K.

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