Question of the day. What do I need to be able to minning Steem?
So the question of the day. Where I ask you a question and people try their best to answer we the newbies receive give good advice and you can get a whole bunch upvotes on the comments.
What do I need to start mining Steem. Is it difficult? How much Steam can I honestly expect to mine per week. do I have to pay to join a mining pool like other cryptocurrencies.
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Hi there! thank you for this post and thank you for following me :-) have a blessed Christmas to you and to your wonderful family :-)
Hopefully someone comments how, I would like to know that!
Normally it doesn't take this long floods with comments maybe I stump people.
As far as I know gaining STEEM does not go through mining as we know it. The process is quite different.
You welcome normally I get a lot response than this I mean like 30 comments describing everything this is a fail. hopefully my next one will be better
Here is a starting point.
https://steemit.com/steemit/@jerrybanfield/becoming-a-steem-witness
What you want to do is become a witness. Search steemit on how to set up a witness server. We are currently on hard fork 19.
https://steemit.com/steem/@someguy123/your-guide-to-setting-up-a-witness-server-steem-in-a-box-hf19
Keep in mind it's not as simple as mining Bitcoin.
Thank you so much at least we got some answers now have you personally mined steem. + can you mine steem power?
It's not that simple. To be rewarded with blocks (steem) you must be in the top100 witnesses. First post I linked to has where to find it.
In other cryptocurrencies like Bitcoin and ether your rank is determined by computing power alone, here while computing power has an impact on your rank the larger impact is people voting for you. Every account has 30 votes they can utilise (and take away and reuse) for witnesses. I am currently voting for 4 witnesses I believe contribute to steem ( I'm sure others also do but those are the witnesses that have created features that I personally use).
It's difficult to explain all this on my phone, when I get back from Holidays I can do up a post for you and your friends if you think there will be interest.
Unfortunately, on this level, STEEM is a different beast. I suggest looking up busy.org as I believe they are responsible for the majority of the STEEM architecture. Steemit is just a service on top of it leveraging it I believe. Steem was premined (I think). Meaning that they mined it all prior to launch. Don't ask me how this works as I am still curious myself. Basically mining comes in the form of curating on STEEM. post and like and resteem... Also means transactions aren't really all that secure compares to something like Bitcoin's blockchain. but we could argue and debate this stuff all day...