You are viewing a single comment's thread from:
RE: [UPDATE] - Witness Schedule - Live Visualization - Fix for Currently Scheduled Witnesses List
How much do you earn when you mine steem? Per day? What would someone need to start? I have a friend that could do this.
It depends on a few factors. As a miner-witness, you get rewarded about 0.185 SP from the network after you have mined a block. To get scheduled, miners have to find a proof-of-work, or pow, and broadcast it to the network. If the network accepts it, then you are put to the bottom of the miner queue. Once you make your way to the top of the queue, you will be scheduled in the next round.
As the case since the last hardfork, there is a bug where you can keep submitting the same pow every round, so a lot of miners are currently taking advantage of this. Sometimes the network accepts it or doesn't as valid work. Currently, the queue seems to be at a fixed 171 miners, which means it takes about 3 hours to get to the top and get scheduled for block production.
Also, the proposals for the next hardfork mention removing mining altogether, so this may mean it may or may not be worth the effort to set up everything.
To start, you need to run the steemd software and set it to mine. There are a few tutorials on Steemit and also a mining channel on Steemit chat.
Thanks for the info. Bummer on possibly removing mining.