Adventures of STEEM mining PART 4 ๐๐๐๐๐
The rabbits (and gtx's) have overtaken the miner-witness queue for far too long. Before this were the case, I would find a few pows a day. Now, I would find maybe 1 or 2 per day!
Here is one instance where I am surrounded by these creatures as I make my way to the top!
But no fear, as they say - just keep digging, just keep digging!
Who here is also a miner of STEEM? And how is it going for you?
Follow me! @bitcoiner
I went from finding about 20/day to about 4/day in the last 2 weeks. This has got to be GPUs encroaching on CPU mining. Dan typically adjusts the PoW algo in each fork to keep GPUs at bay.
Hopefully they make whatever changes needed to discourage the GPU miners.
What is minning and how does it work?
Mining is where computer software confirms transactions and secures the network. The network then rewards the miners with its internal tokens, in this case Steem Power.
Must the software be purchased? Is it financially beneficial?
No, mining software is almost always free.. unless it is some top secret optimized code. And concerning profitability, most of the time it is the electricity usage you have to calculate against. If you've bought specialized hardware or new hardware, you'll probably calculate the cost of that investment too.
Thank you for sharing...
Has it been financially beneficial to you?
No problem! If I did a better job of accounting, I would be able to give you a hard answer and metrics, but hard to say. I've been mining and trading at the same time, sometimes with mined funds, sometimes with new capital. But I know there have been times I could have made back my hardware investments if I had sold at the peak of a pump, etc.
i did not find any POW from many days... how is rabbit managing to doing that?
some think he has a gpu solution!
There seems to be all kinds of funny things going on with the Steem mining. I have just decided to stay out of it and focus on content creation. I might set up some Monero mining again on some free cloud trials since the price has spiked. But everyone else is probably doing the same.
For me, mining STEEM seems to be the most profitable thing for my CPU (that is, if you believe in STEEM... as it does take 2 full years to cash out). Even if I get 1 or 2 SP every day, that is worth more than the dime or so mining other CPU algorithms, which actually the total electricity is worth more.
Know of any good free cloud mining trials? I would think that if Monero price has increased, that the difficulty would go up, making it no longer as profitable as other alts..
Oh Bollocks, what are we to do around here. Thanks for this.
my pleasure!
lets mine monero...
Is it profitable with a geforce gtx 980 with 4GB?
We'll have to get the GPU mining software first to see.. there's been a bounty for it https://steemit.com/steem/@picokernel/bounty-community-bounty-for-open-source-gpu-miner
Ok thank you.
I stopped mining for now. Just wasn't worth it. :/
For me it's just fun to watch steemd I guess. I would have had my i7 desktop running anyway if I wasn't mining so might as well, it probably adds a dime to a quarter of electricity per day I think.
Well after doing some digging around I have found on each of the rabbits and wallets all have one thing in common a promoted post. linking to https://steemit.com/steem/@vdoh/rise-steemit Now is this the actual owner or someone just promoting a post and more digging into it pools up this
https://steemit.com/@vdoh/transfers
all in side of 4 weeks. Wonder who the person is but thought might share if someone can debunk. The question is does vdoh own all the rabbits
Actually I think it is @supercomputing that owns the rabbits and gtx accounts. Most people think so. And vdoh spammed everyone, not just the rabbits.
True and no doubt time will tell where it all ends up at. Will be interesting to see where the coins go in 2 years time or accounts get sold on. still am mining and making a few blocks a day but making a lot less due to all this. Need devs to put stop to it or block it in someway change the code and make it fair