Adventures of STEEM mining!! ♫ I've been working on the blockchain...
I have been mining for a few years now. In the past, it was CPU mining Litecoin, Feathercoin, Worldcoin, and a bunch of other altcoins. Later on, I built a 4 GPU rig (see https://steemit.com/introduceyourself/@bitcoiner/qdvbi-hello-friend) and started mining altcoins based on Scrypt, X11, etc. More recently, it has solely been Ethereum as that is currently the most profitable.
Then joining Steemit a few weeks ago, I've been trying to mine STEEM! After following a few guides from Steemians such as @pfunk and failing and persisting, I have finally gotten steemd up and running, and have been mining for a few days now on an I7 desktop:
~25000 hps! Not bad, huh? Or, is that not that much?
Difficulty has have been adjusting from day to day and some days I would find more blocks than other:
(Thanks a ton to @jesta for making this information really easy to access with his great tool SteemStats!)
Who here is also a miner of STEEM? And how is it going for you?
I upvoted You
Thank you
bitcoiner, I've noticed you around. You're way undernoticed
treeleaves, well thanks so much for noticing! I do really appreciate the support
Hey man. Can I ask what sort of return on investment you're talking about? Are these big mining rigs? How does electricity & other costs factor in? Thanks in advance for your advice =)
For STEEM mining, it is CPU only. The mining is done on an I7 desktop tower. I haven't thought of ROI at the moment, but someone told me mining a STEEM block gets you a SP, so I guess you can calculate the conversion to STEEM to BTC to USD. I think the tower is using a few hundred watts.
Can you give me some idea? If you spend all day steemmining with an i7 chip, what kind of real-life $$ rewards are we talking?
As an example, let's say the tower is $700 and uses 300 watts with max load. If you mine 5 blocks a day you'll receive 5 SP, I think. I have no idea the conversion ratio with SP, and also as an aside, it'll take two years or 104 equal payments to power down from SP to STEEM, then you can exchange to BTC then to USD. Whatever it is, the electricity will cost you 0.3 KW * $0.10 / KWh * 24h = $0.72 per day, depending on where you live, it may be more or less than 10 cents per kilowatt-hour. Even if 1 SP equals a dollar, it'll take you 5 and a half months to make that tower back. But that is considering everything stays the same for all that time.
Cheers for your insights man. +1
Good Post!!!!
Thanks so much!
Keep up the good work!