Did you ever want to start mining for crypo currencies but couldn’t because the power/cost ratio wasn’t profitable? Well, there is a new type of mining out there called POC mining (proof of capacity) which may just solve all of your problems, and save the environment as well.
A coin known as “Burstcoin” was released 3 years ago in August of 2014 by person who goes by the alias of “burstcoin”. Burstcoin uses hard drive space to verify transactions by setting deadlines and having the miners search for those deadlines in their hardrives. Basically a way of verifying these transactions using about 1/20 the amount of power that GPU’s use. Also, you can just use existing free space on your hardrive to earn coins as well, although the profitability probably won’t be very high.
Another reason to start mining burstcoin is the rising prices of GPU’s. With GPU mining you have to run your GPU at rigorously high speeds in order to get the hash rate (profitability) up which is really hard on your gpu. With burstcoin mining, you plot the hard drive, then all you have to do is direct your miner to read it, so no more writing is required, this is relatively easy on your hdd making it really easy to sell it later, or use it for a long period of time. GPU’s tend to die after 1-2 years of mining, whereas some of the older Burstcoin miners have been mining with the same hdd for 3 years now.
Due to recent DDOS attacks the price of burstcoin, along with the profitability of mining burstcoin has halved, which makes it a prime time to invest if you don’t feel like purchasing the hardware. However if you feel like investing in a few harddrives, I will go ahead and write and intensive HOW-TO-MINE-BURSTCOIN step by step blog for those who feel like mining. I have also found a few really good websites that ship internationally which I will mention in my following blogs.
Below if the possible profitability/cost of mining burst as of today.
$200 - 8tb hdd – x6
$100 – motherboard –x1
$250 – multicore cpu(8cores) –x1
$20 - 4g ram –x4
$20 – case – x1
$80 – psu – x1
total = about $1,750
power cost/month = $40
burst= about 11369 burst, $92(its really low now)
profit per month $42 dollars
Comparatively right now the GPU market looks something like this(in Japan):
Total = $2,400
Power cost/month = $300
Eth/btc = $450
Profit = $150
One thing you have to keep in mind is the noise, power, heat and stability of burst coin mining is about 1/20 power, 1/10 heat, 1/100 noise and about 10x more stable(I have never had my miner crash on me). Whereas my gpu miner crashes about once every 3-4 days and I get an email notification. About a month ago burst was about 100 dollars more profitably per month, but that was because of the bubble and also the DDOS attack last week, it will become a bit more profitably in the weeks to come.
Anyways, I hope you enjoyed my post, please subscribe if you are interested in learning more about burstcoin or want to build your own burstcoin miner. Also if you need a faucet feel free to upvote me and leave your Burst address and I will go ahead and send you some burstcoin so you can set your pool/change your wallet name.
