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.
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.
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.
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.