Bitcoin Forum

I have 2 6 rx580 mining rigs. I also have about 4M Bitbeans on a dedicated "Bean Machine"
Initial investment in Bitbean: about 2000$ (April last year)
Initial investment in rigs: about 6000$
I use my mining payouts to buy Beans: 4000-5000 Beans each week worth.
I sprout 40,000-60,000 Beans each week.
Why isn't everyone doing this?

Maybe few have heard of it? It sounds both interesting and Ponzi-like. You just let a bunch of BitBeans sit in a wallet to collect Proof of Stake awards or what?

Ponzi? No, its just POS (proof of Bean!). Beans grow new sprouts daily, relative to the amount of Beans you own and each sprout is 1000 Beans... which is worth around 13$ right now.

Ponzi is in your head, buddy. It is not some BitConnect pyramid dingleberry. Bean Cash is POS 3.0 and true project with a future.

Right, so 4M coins generating an average of 50k coins per week works out to an interest rate of 1.25% per week. Compound that over the course of 1 year results in a near doubling of the number of coins (+90%) to 7.6M (depending on how long the awarded coins have to mature before they can participate in PoS, etc.).

I'm not being skeptical to be an ass, just pointing out that a 90% annualized interest rate is pretty juicy...

Juicy is very apt...
which is why I dont understand why isnt everyone doing this? its too easy. It blows all the other POS coins out of the water. there's even a video to this affect..

https://www.youtube.com/watch?v=RGGRO3esMa8

Ethereum will be POS in the near future. Half of new coins coming out are POS 3.0. POS 3.0 was by the way introduced by Bean Cash.

And year by year there will be more and more POS coins and that technology will improve. You must be crazy to call it juicy.

Listen, go find smthng like Bernard L. Madoff Investment Securities hedge fund, which was approved by SEC, and which came out to be a hardcore ponzi, and better invest in it.
While we are going to be making money on promising cryptocurrencies.

i don't see any interest with this beanthing, is this promotion post or something ? i don't like POS cryptos at all and will never buy 1

Whats wrong with POS coins?

Its not a promotion I am asking a serious question. Sprouting beans is the most profitable method of satoshi generation I have found. Is there some drawback to POS that I don't know about?

The one drawback I can think of off the top of my head is that PoS is hyperinflationary unless block reward is reduced after every n blocks. You end up needing a Weimar Republic style wheelbarrow to haul enough cryptocurrency around to pay for a Pepsi... metaphorically speaking, of course.

And for you tossers that keep suggesting I sign up with Madoff (currently serving a rather lengthy prison term, as I recall) I am ASKING QUESTIONS TO LEARN MORE, NOT TO SHOOT DOWN YOUR PRECIOUS COIN. I am skeptical by nature and don't necessarily believe that every "fantastic opportunity" is, indeed, such. It probably has something to do with my mom dragging me to a timeshare sales presentation just so she could get a free camera.

Interesting use of 'tossers', then 'mom'. You mixed British and American well. /aside

/

Can you explain these Bitbeans? I trust a currency that has faucets, it's important when roadmapping a coin to develop the community from the ground up.

I have DLed the QT wallet and am going to use a faucet for the moment. How many coins are needed to stake?

lol, Timeshares! Silverleaf... man what ever happened with those folks?

As to the hyperinflationary thing. I understand that. That's why I don't mess with redd or ESP. With Bitbean it was created after Doge so they saw the stupid thing Doge did releasing all those coins at once. They have it planned so there's like 90 years worth of growth. So its scaled to gradually grow instead of some crazy developer yelling: here's some coins! come what may! They paid attention to Gavin Andreson and followed his suggestions for how he would fix Bitcoins scaling issues and built that into the coin from day 1. 20mb block sizes, lightening fast transactions and they pioneered POS v3.

Over here in Beanland we 'sprout'. Sprouts are 1000 beans and the general reward comes once a week for 100k beans, once a day for 500k Beans and several times a day for 1M. on a bad day I sprout 5x and more than 12 on a good day

Guys, who`s done it with MiningNow alrdy? (https://miningnow.online/). Read on the internet bout it, everything seems to be clear. And most importantly, large investors, such as RUSAL and ordinary players can participate in the ICO. It`s not an often thing...

I've never heard of it.  Can you inbox me details on how to get started? Thanks

Its pretty easy. I bought my first beans on POSW but you can buy some on Bittrex or Bleutrade.
Download the wallet on www.bitbean.org/downloads if on windows its version 1.1.2.2rc
After download it needs to synchronize with the network, this can take a few days unless you can get a snapshot from someone.
after its fully synchronized transfer Beans from exchange wallet to your PC and let them sit. depending on how many you buy it can help if you send them in the amount of blocks that would optimize sprouting. Example: you have 100k beans, send ten 10,000 Bean blocks, if a million then ten 100k blocks. You can also adjust this in Bean control.

We have a community chat on matter most, PM your email and I can invite you.

You should see me mix metaphors, then!



If the pure torture of sitting through the sales pitch didn't kill off timeshares, nor the fact you couldn't sell them later on for without taking at least a 50% haircut, then the South Park episode lampooning would have definitely struck the mortal blow (is that a coup de main or a coup de grace or what?).

Okay, bitbeans sound interesting and they are listed on Bittrex so that is definitely a good sign; none of this low-rent stocks.exchange or cryptopia crap. I was testing out PoS with TZC, as it is both PoW and PoS, but I probably won't see a block reward for 9+ months unless I vastly increase my holdings.

EDIT - what the hell, only 112 sats so I bought 1000. After I do some more altcoin trading I'll buy some more.

Thats great. I like also the idea of POS or Proof of Stakes. I have some tokens like MNX and POS Token too. Bitbean's being a POS coin is new to me.  It seems its already expensive now, isnt it? Will check this coin and thanks for the information.

Well, then if you not here to troll, you should not mix something you have no idea about with ponzi from your first post. Otherwise get the reaction you deserve.
It's nice that you mention pepsi, which is overblown in value drink, and cost almost nothing to produce.
What kind of hyperinflation you are talking about if less than 1% of world population use cryptocurrencies and even less people know about POS system, which NOW works better than most banks. And people make money on it.And Bean Cash is on the top of that.World economy easily digests this factors in such a scale.
You must be really newbie in economy to mention Weimar Republic style wheelbarrow in a hyperinflated world of fiat money, which has zero value in most cases, and is not backed anymore by gold, but indeed is backed by government cash printing machines. Blockchain is deflatory by its nature, and POS system evens it up. Therefore giving the possibilty to earn money to people.
Well if you dont like Mr. Madoff style of investment. Try smthng more conservative go open a deposit in the bank and get a free cover for your iphone. Just be sure to choose your bank carefully, they crash a lot lately, you know. But on the other hand you would still have an iphone cover. ;) :D

Good for you, welcome to the club. Next time please try something first, before critisizing it.  :)

Because Bitbean is a shitcoin that has been around since 2015 and its only worth a penny a coin.  The coin provides nothing new that other coins don't do.  Its not used anywhere, and its only benefit is to buy and hold so that you can get more of this worthless currency.  This coin is just printing money.  There are 2 billion coins in circulation! 

um there are stores and parking garages that accept Bitbean. I know of a few and I have sold stuff for Bitbean, its accepted. 2B now but there are other coins with higher, much higher, circulations. The higher supply is for facility sake and to make it easier for wider adoption. Why the animosity? What did the beans do to hurt you?

HAHAHAHA  ;D ;D ;D ;D

Dont forget to say that it grew around 30000% from 2015. Please dont blow your FUDgy pants, when it hits another all time high.  ;D ;D ;D

Beans hurt his FUDgy brain, ;D ;D ;D dont pay attention to this troll.

IKR! I multiplied my money many times over this past year.

You asked why people aren't doing this, and I told you.  Name a coin that has a higher circulation.  And I am talking about a true coin, not a token.   Verge comes to mind but at least that has privacy measures built-in and an actual purpose.  That said, explain how this coin is unique and better than something like Dash?

Also this thread does not belong in the mining section.  Bitbean is a strictly PoS coin, you can't mine it.  

Ohhhhhh, it's this Verge, which turned out to be a non-privacy dummy coin.

https://hackernoon.com/why-verge-is-a-scam-and-fails-to-offer-real-privacy-6fbcab232fb5 (https://hackernoon.com/why-verge-is-a-scam-and-fails-to-offer-real-privacy-6fbcab232fb5)

I see you "understand" "a lot " about cryptocurrencies.  ;D ;D ;D

Dash and Bean Cash has different approach and different purposes. But looks like you are not savvy to understand that. ;D ;D ;D

Also I was comparing it to mining... Bitbean is much more profitable. Redd and Doge have much higher circulation. MUCH. We understand you don't like Bitbean but there is a great deal of money to be made with it. You don't need it and that's fine but others are interested...

Im in this coin since november and i like the profit it gaves to me.
Sprouts keeps coming with a good flow.

I would like to see more marketing and advertising from the dev team tho. I think very little is done in order to promoting this coin which is a shame.

The community is wonderfull and im not regretting this investment and i think the future is bright!

#keepsprouting

Instead of selling your mined coins and buying something else like these beans and sprouts there is an alternative to hold the coins you have mined. If you are lucky the coin rise in value and you gain profit without generating new coins by PoS. Have you compared how much you would have earned by holding the coins you mined instead of changing them to beans? It could be an interesting comparison.

Sounds a bit silly, but hey, I like a good ROI.  Also market cap is still pretty low on this coin - has plenty of upside room in the event some whales start to buy in.

That is among the dumbest things I have read on this forum so far. Firstly, I was asking questions, not criticizing. Secondly, the worst possible investment approach is to go buy something /then/ learn why you shouldn't have bought it in the first place. In this case I did a minimum of research before spending a whopping $11 in BTC to add this coin to my portfolio; do not think for one second that my spending that princely sum is in any way an endorsement of the coin, nor me joining some club.

Now either learn to discuss things in a civil manner without resorting to endless ad hominem attacks or kindly STFU. If you cannot restrain yourself from being an ass then I will simply add you to my ignore list and continue living my life in blissful ignorance of your own.

EDIT - As predicted, I am now ignoring AlphaInterceptor.

I don't care about beans or whatever, but why is this in the mining section when it is clearly a promotion for a coin?

HAHAHA  ;D ;D ;D it is a long time since, i ve seen such an incompetent clown.
And as you correctly said your 11$ does not add up anything to this wonderful community.
I was just trying to be nice to an idiot who came in, having no clue about where he is and what is his purpose here.
So i will restrain from nice manners and tell you- GTFO, we will live and earn money happily without your nonentity personality. ;D

So, I d/l'ed the wallet about an hour ago and I am only seeing a single connection to the network and even that is spotty. How many peers is your wallet connected to?

Lol, right as I type this I am now connected to 2 peers... Still, the above question pertains.

You come here to promote your unsignificant POS crypto, what did you expect as a reaction ?

Go beg somewhere else, maybe the idiot fishing will be better.

I'd previously been curious about BitBean / Bean Cash before I started mining.  Might take a gander at it now that you say they can be bought on POSW just to see what it can do.   Didn't realize that.    Can I buy them with POSW or did you still buy them with BTC?  Any feedback would be appreciated.   I don't see how I can do this in my POSWallet.

Hello! :)

If i understood you correctly - no, you cant buy beans through your wallet.
You need to get them off one of the exchanges and then transfer them to your Bean Cash wallet.
I would suggest Bittrex or Cryptopia. Feel free to ask any questions if you need help.

Piece of shit cryptos and master nodes are a nice sneaky way to say ico

You have to spend and spend and spend then the devs can run off

Oh its been a really long time since I was on POSW, I was just saying thats where I first found i tand noticed in was increasing faster than POSW. Now you can buy from Bittrex of Bleutrade. Stay away from Cryptopia, too many problems.

Lol, and you all thought I was a tough customer...  ;D

awww look a newbie saying noob things. It was a comparison and a serious question. Try to understand whats going on before giving a knee-jerk reaction.

hmmmm, not really. since Bitbean is POS I sell the mined coin as soon as possible to get those satoshis sprouting more. The production rate is 10x faster so the mined coin would have to increase in value 10 fold to match the Beans. That could happen but I'd rather not wait.

Naahhh you're good man. I got what you were saying.

We have a sprouting calculator. Its pretty decent.

http://sproutingcalculator.com/

I'm trying to bulk up Beans so I can retire... and have my Lambo. lol

That will increase as synchronization continues. firewall and antivirus settings may need to be adjusted. Mine has over 60 connections. Some people have over 100. Connections matter when your block is being solved at the same time as another. if theirs wins you get orphan block, if yours win they get the orphan.

Yeah, the wallet took longer than I felt was normal/average to start syncing but it is now up to 16 connections and about 10% done.

I found that calculator earlier; it looks like you need around 25k BEAN to find a block every month. Sure wish there was a calculator like this for TZC staking...

Yeah wallet synchronization takes a while its because they haven't 'fiddled' with the blockchain. Integrity has been maintained.

I started off with that much the first time. When I was very new to crypto. Then bought 250k, then 2.5M for a while I was spending every cent that wasn't nailed down on Beans. Now it just builds more beans for me. Easy passive income. Mining rigs keep running too but can buy less and less Beans with my payouts. And have to send another GPU for RMA... sprouting is so much easier.

Im not saying it isnt worth doing (once I have some spare funds ill likely buy some). But the title may be misleading. We cant buy them for the same price you did, and the price makes all the difference in the world, especially when it comes to PoS coins as it directly impacts how many coins you get, aka how many you get from staking.  So your number are just that...YOUR numbers, the numbers if you bought in april of last year (both the gpu's and the beans).

I guess im knitpicking, just saying the title should be "sprouting bitbeans has been 10x more profitable for me" or something.  It may be even better now, I have no idea (wouldnt even know where to start with the math

edit: actually based on a quick glance, the price of bean in usd has gone up like 500x. So assuming you could get the video cards at the same price, (you cant right now, but that may change before too long), and all other factors were the same as last year (it never is). The mining would actually be more profitable..... right?  (you never mentioned electricuty costs ect though)

Good points! I definitely spend more on electricity with mining versus sprouting. The rigs have 1600w power supplies. The BeanMachine only has a 600w power supply and it doesn't use all 600 watts.

I have kinda paid attention to the GPU prices, they are pretty ridiculous at the moment. I keep wanting to put a RX Vega on the BeanMachine but that price keeps rising... Through Beans I have made my ROI on all my equipment costs so I just want to keep it all running for a few more years for pure profit.

Nitpicking is fine. It helps clear up questions about an issue.

Yeah the price of gpu's is crazy right now. It should calm down in the coming couple months I think as the difficulty continues to catch up to the price.  As someone that wants to upgrade his gpu to actually game on its frustrating s hell lol. I refuse to pay markup prices for almost anything on principal alone (if nothing else). 

They have been saying GPU price was supposed to be coming down for months. Its to the point where I'm starting to think that crypto is a scam by the computer companies to sell components. lol

It is crazy right now. I've got two small rigs. One with 1050 ti's and one with rx 550's. I paid approx $130 each for the 1050 ti's last June and about $90 - 100 for the rx 550's last fall. Now, the 1050 ti's are going for about $280 and the lowly rx 550's are completely back-ordered.

Anyway, thanks for posting about Bean Cash. I hadn't heard of it. I'll definitely check it out.

What are you mining?

and thanks, this cryptospace has many opportunities to build wealth. A little knowledge can go a long way.

My 1050 ti's are doing neoscrypt at the moment, switching between GoByte, Crowd Coin, Vivo, etc. The rx 550's are bios modded and doing cryptonote (sumokoin and electroneum, mostly). So far, the only algorithm that I've found for the rx 550, where it really excels, is cryptonote. Still on the hunt...

Have you tried XMR? Dwarfpool is really stable. I was a Nicehash refuge and found my way into the Dwarfpool and been there since. I feel like it might not be as profitable but its very stable and my rigs have been happily mining away with no downtime.

The 1050 Ti is surprisingly good at equihash - I got about 190 Sols/s out of mine when I was still mining with it (I managed to snag an RX 570 then 6 1060's and even a couple of 1080's before prices went totally nuts). I would think the RX 550 would be best used mining Cryptonote (haven't tried) so not really surprised you found the same.

Well I mined intense coins back in november and then I got like 15000 coins per day with 4.5 kH/s cryptonight. Price was below 10 sat. Today price is around 230 sat so that is more than 20 times higher in just two months. I doubt I had gained more by selling them and buying bitbeans.

Yeah, I used Dwarfpool for part of last summer mining Monero. They are really reliable. For the last few months, I've been chasing max return, and that's lead to sumo/etn/aeon and a few other cryptonote coins. If my "real" job gets super busy, I'll probably to back to XMR on dwarf or nanopool. There is something to be said for "set it and forget it."

ahhhhh that's pretty great. Hadn't heard of that coin before. Still mining it?

What is a good amount of Bitbeans for staking? 100, 1000, 100k or 1mil+?

It depends upon what you can afford. 100k-1M is a good start. 100k will see a sprout once a week. 1M will see a couple sprouts a day.

Hello! :)

If i understood you correctly - no, you cant buy beans through your wallet.
You need to get them off one of the exchanges and then transfer them to your Bean Cash wallet.
I would suggest Bittrex or Cryptopia. Feel free to ask any questions if you need help.
[/quote]

Ah, ok, got it.   Yes, I knew they could be had on Bittrex and Cryptopia.   I'd meant that I saw something in the POSW wallet itself mentioning about Bitbean / Bean Cash at some point, so I thought you'd meant that there was some way to exchange them for some POSW tokens.  I'll look it up.   Cheers!

Interesting.  Have you been on POSW since they put out their new wallet in the fall?   We all know they had big issues in the summer but they've gotten back on track, as far as I can see.   What kind of probs have you had with Cryptopia?  Withdrawals?   I've used them semi regularly since I got into the space last summer and haven't had any issues (at least in comparison to Etherdelta, Bitfinex, Coincheck, etc).

nope, I sold off my 5000 POSW and bought more Beans. Their staking rewards were sickly, just anemic. I never looked back.

Cryptopia is playing shenanigans with the Bean wallets. Bittrex or Bleutrade are the good exchanges for Bean.

I would say to fear them both then...Bittrex is playing shenenigans with people's deposits alltogether, by instantly locking them up for no reason...Just talked to a friend who's account was locked, and additional docs were asked by Bittrex support. BCT forum is full of such stories. Bleutrade-never heard about. Cryptopia at least works now as opposed to december, when, yes, they halted bean deposits and withdrawal for a month.

I've never had problems with Bittrex. I guess they all have their foibles. Is Cryptopia really working again? their thread is full of folks having new issues.

Cryptopia and Bittrex have been pretty solid for me. Cryptopia dropped their LTC and DOGE markets in December(?) and that seems to have fixed a lot of their speed issues. I hope find a way to get them back. Haven't used Bleutrade either. Will check them out.

I heard this guy fully endorse BitBean!

https://youtu.be/stpoj1sve2o

HAhaha I was hoping the link would be a video of this guy.  You didn't disappoint!

So 100,000 beans cost you $1,162.40 (Current price $0.011745) and if it spouts once per week to make 1,000 more beans which is worth $11.745  Correct?

nope, lol. nice try though. good for a laugh!

crazy how the price has grown... I remember when I was buying millions of BITB at a time like I was spending monopoly money.

Two days later and my wallet is only about 60% synced up... I've seen slow wallets/blockchains but this is ridiculous. Looks like I am going to have to hunt down the blockchain file and manually d/l it.

I think thats my biggest complaint myself. Once I got the blockchain I backed up the blk0001.dat and txleveldb file so I wouldnt have to go through that again. Its like a pretty woman leading you on. You want her soooooooooooooo bad and she teases you a bit then moves out of reach.... but once you catch her, woo! lol

I cannot get the wallet to sync.  0 connections on two rigs. 

which wallet version? If on windows its usually due to Defender and the Firewall settings.

Firstly, you have to explicitly check both boxes for private and public networks if the Windows Firewall popup appears (usually only the first time a program is run from any given location). If you failed to check both boxes - just hit okay and continued - then the default action is to block public network access. Ergo, the wallet won't work.

Secondly, it took my wallet a couple hours just to make 1 stable connection, and it took over a day before it had more than 4 connections (and over 3 days to fully sync up with the blockchain). Personally, if I had tried running the wallet before I bought bitbeans I would not have bought them. Ain't nobody got 3 days to wait for a wallet to sync.

That said, I now have 2500 bitbeans and according to the wallet my average sprouting time varies between 220 and 320 days. So also keep that in mind when deciding how many bitbeans to buy, or even whether it is worth acquiring them in the first place. As expected, I would need about 10x more bitbeans to have a decent chance of sprouting once a month.

2500? come on man... what mining rig could you buy with that much? you have to have some skin in the game. I had a bad day yesterday and only got 4 sprouts. AT&T did something to my internet the other day and it hasn't been the same since :(

I think Burst is worse. Thankfully, you can download 99.9% of the blockchain and sync the rest.

I'm more inclined to buy more BTC right now, rather than spend it to buy anything else.

HA! IKR? but! I hear it may drop more, maybe under 5k. so I am going to hold off making any moves right now. My plan is to let the rigs and Bean Machine run and look at prices every once in a while.

electricity is very costly and i cant set up rig ... dont know when crypto will die

so you basically get rewarded with 4 beans per $100 worth of beans?  Doesn't seem like a great deal to me.  Thats $40 for $1000  Even in bad times, $1,000 in graphics cards would bring it at least $150 per month. 

http://sproutingcalculator.com/

err, no.  beans only cost about $0.01 each right now, so $100US = ~1000 10000 beans. That said, if you want a decent chance of winning a block (1000 beans) every month you'll need about 25k beans, and for every week, 100k; etc.

EDIT - struck out 1000, corrected to 10000. Oops.

at $0.01 each, $0.10 would get you 10 beans, $1.00 = 100, $10 = 1000, $100 = 10000, $1000 = 100,000 beans

Using the sprouting calculator site it shows 100k beans bringing $40 worth in sprouts a month.

So how is it a no?  is the sprouting calculator wrong or are people confused with how this works?  Everytime I've done any calculations it doesn't look anywhere near worth it to invest in beans, am I confused? if so, please someone explain how...

Your calc is correct

I missed a zero in the number of beans in my previous reply but, regardless, what was wrong in that other post was, "so you basically get rewarded with 4 beans per $100 worth of beans?". This is because a time frame wasn't specified - it wouldn't have been off by too much if  "every day" was specified, for example - but also because $100 gets you 10k beans and that should bring in an average of 400 beans per month (or, more correctly, you have a high probability of winning a full 1000 bean block every 2.5 months).

So, no, $100 worth of beans does not get you 4 more beans.

So, 4% a month, that's 60% a year.

and stuck with the bag if the price falls

same risk with mining.... look at what happened with the D3 antminers. Investment is risk, that's why its not for the weak. Meanwhile my beans are pumping out more Beans and my mining rigs can't even compare in satoshi generation.

true that mining and investing are both risks, but I fail to see why beans are more profitable than mining.
If beans are giving a 4% per month return, then comparing that to the D3 (I have 2) :
I'm running my D3s at low speed to cut down on heat, after factoring in power consumption they are profiting around $3.15/day
$3.15 * 30 = $94.50 / month
I paid around $1700 with the power supply, so $94.50 / $1700 = 5.6% monthly return.

So a D3 is already more profitable, and this is the worst of times for mining with a D3.
Take into account that at one point the D3 was pulling in $8 / day profit and the D3 pulls even further ahead. 

Maybe if you loaded up on beans a while back when they were super cheap it was worth it, but now I just don't see it...

No I don't have any beans, my interest in this thread was because "Sprouting Bitbean is 10X more profitable than mining", so I like several others started to calculate if it's really true and whether or not I should start getting some bitbean's instead of instead of mining.

Since you are making at least $94/day, lets just round that up to $100/day or $3000/month for comparison purposes.
So if I wanted to get into bitbean sprouting today with a goal of making $3000/month :
I would need about 5.6 million beans to sprout ~$3000 / month.  5.6 million beans would cost ~$75,600, lets just round down to $75,000 initial investment to make $3000 / month.
So the ROI would be 75000 / 3000 = 25 months to break even.

Comparing that to the Antminer L3 (since it's available to order now), lets say an L3 after shipping, customs (US), and power supply = $1900 each
you could buy 39 L3+ miners
Each L3+ is currently making about $10 / day profit (using my electric rate of $0.10 /kwh)
so 39 * $10 = $390 / day * 30 = $11,700 / month
So the ROI would be 75000 / 11700 = 6.4 months to break even

Looks like you got lucky by jumping in super early if you were able to get that many beans for cheap, but the ship has sailed for new comers...

Looking back to November when a bean was $.0021 / bean you could have gotten the 5.6 million beans for ~$12,000 so that would be a 4 month ROI.
A 4 month ROI is better than the current 6 month ROI on an L3, but it's in no way 10X more profitable than mining, unless you have a terrible mining setup.  even just buying GTX 1060s at an exorbitant inflated price would give a better ROI than buying bitbeans for sprouting at this point.

All that being said, I'm not here to argue or bash bitbean sprouting...  So if there's something I'm missing and there is a way for me to get into it with a better ROI than mining, let me know...

How much are the Antminers Worth when you hit ROI? You still got your initial invested beans as comparison to the Antminers. But there is no guarantee that the beans won't fall in price and the profit from the miners may change, up or down. It is very hard to know Before what is going to be most profitable and very easy afterwards and say what have been most profitable.

I have no beans and no antminers either. But just wanted to say it is not easy to do these kind of calculations. Maybe you can do a compromise, buy some miners and buy some staking coins and invest some of the mining profits into staking coins. Spread your risks. Maybe one of the alternatives is going to be much better than the other but you can't say for sure which one is going to be best in future.

I have beans and antminers also :)
Sprouting beans basically not using any extra electricity , as the wallet is running on one of my mining rig without any problem 24/7.

For sprouting you need to buy Bean cash ( BITB ) (https://coinmarketcap.com/currencies/bean-cash/) on exchange, download the official wallet (http://beancash.org/downloads.html) , send your BeanCash to your wallet , keep your wallet open for sprouting as much as possible, and you can make some income.
The only thing i did not liked when i started my bean cash adventure is , the wallet program need a lot of time for synchronizing with the Bean Cash network, lot of time i mean way over 24 hours ... actually it was around 2 days...

That sprouting calculator (http://sproutingcalculator.com/) someone mentioned earlier is way off , i would say you can get 75% what that calculator says ... That is my own personal experience ...

I'm getting about 10% over what the calculator says I should be getting. Are you getting alot of orphan blocks?

I have 800000 bean to sprout , started to srpouting on feb 7th . so fair received 15000 beans , sprouting calculator said on feb 7th i should get 32000 beans in the next 30 days. Actually I did not received any in the past 4 days (my wallet is online 24/7 ), so i would say now i got around 60% what that calcultaor said :)
 I made over 200$ easy with current exchange rate.
Im going to do a full detailed review about my experience here on bitcointalk soon about my sprouting experience , just waitnig the 30 days timeframe from start ...

Im in this coin since november and i like the profit it gaves to me.
Sprouts keeps coming with a good flow.

I would like to see more marketing and advertising from the dev team tho. I think very little is done in order to promoting this coin which is a shame.

The community is wonderfull and im not regretting this investment and i think the future is bright!

Not a mining question.  But in general do you think this coin could possibly hit $1 in the future?  Also is this a POS coin?  The only reason i thought this coin is good because it has a nice logo.

Wow the math on bitbean is stupid. 24 months to double your money IF the value of bitbeans doesn't plummet. Better off just buying Stellar and holding because at least that has a future and they also pay out inflation for holding. ADA is another one that would be better choice to start buying while its cheap before their POS system starts.

 Good Day

I am planning to do sprouting with 350K beans. If I do the staking for about 12 hours and then if the internet disconnects for 5 seconds and then resume again, will it effect my rewards? Please help me as my internet tends to disconnect for about 3 to 5 seconds quite frequently.

I believe while staking, the staking should be uninterrupted for best rewards but not sure if 5 seconds of disconnection will effect my rewards. Kindly advice.

If you get disconnected during an actual sprouting event it would probably lead to an orphan block. You'd literally be racing against the clock towards the  110 confirmations needed to complete the block..

man people still beanin? i want in im bored this dip sucks

I lost one sprout yesterday, Can you please tell me the importance of number of "connections" in Bean Cash network. what is the minimum number of  "connections" required? I have seen people having 10 connections, 16, 30 and 66 connections. Which is good minimum number of connections required for promising rewards? I have 7 "connections" in my Bean Cash network. Can I sprout with even a single "connections" ? Sorry if my questions are silly but I really need to know about this.

The connections represent how connected you are to the network. The target block time is one minute, so if you solve a block with your 7 connections and someone else solves one at the same time with 60 connections it will be unlikely that you will win that block. you can join our telegram to get more information in a timely manner. https://web.telegram.org/#/im?p=@beancash

Is this bean sprouting kumbaya not just another fancy way to describe masternodes?
Sounds awfully like that to me.

Joined telegram group. Thank you for the information.

Hi there, I have recently learnt about re-blocking of my beans. I have my 346k beans into small stacks. Then when I checked the block explorer of bean cash, I found that my overall balance of the wallet has gone down to 150k apprx, though full balance of 346k is there in my wallet. If I have to restore my wallet using DAT file in a new laptop, will I get my full bean balance of 346k?

you need to check wallet and repair wallet

I took  new dat file back up and kept. What happens if I repair my wallet? Do i really need to repair my wallet? As what I found when I re-stack my beans into new sets of 20k, New wallet addresses are created and so if in case u have to restore your wallet, the new addresses created won't be retrieved. So u have to take a new DAT file for back up every time you create new wallet addresses for re-stacking. Please let me know if I missed something.

I have been following this bean thread with some interest. But is it even worth starting with a very small amount of beans?

watch this and learn the lesson:
https://www.youtube.com/watch?v=MYChlzNUAYw

http://sproutingcalculator.com/

I think there are some folks on the mattermost channel that have done this:

https://live.beancash.org/teambean/channels/town-square

Is there a way to increase the number of wallet connections to the network? I'm connected (and synced) since last night with 16 connections. I assume the more connections, the more chances of sprouting...?

read https://beancash.guru/ point 5
more connections give not more chances of sprouting
only less orphan blocks

I used to max out at 16 connections, but after rebooting the laptop I run my wallets on a couple days ago I've been stuck at just 2 connections so I'm curious about this as well.

My understanding is that sprouting is like mining in a sense, and the number of connections is roughly equivalent to the inverse of ping time, so more connections means less chance of a sprout being marked stale or orphaned. So number of connections has an indirect effect on the chances of receiving a block from sprouting.

I actually bought just over 1 million beans yesterday and transferred them all in one go from the exchange into my wallet. Would it make sense to re-block (i.e. sending these coins to myself in a few separate transactions, if I understand correctly)?

I just checked out the site given above - beancash.guru - and it has some good explanations on it. See #11 and #12 specifically, but yes, turning on coin control and sending the balance to the same address in multiple transactions will smooth out the sprouting times.

Yep, thanks, just did too. Makes sense I guess. Hah, I'm already starting to enjoy that sprouting business!

Bitbean hah, i saw this post too back in January and considered investing in it.

So, any inputs from those who did? Did you guys really earn something from this sprouting gig or did it's value tank like almost every other coin out there?

I bought 5000 BITB in two lots of 2500 back in March and February, spending around $38 total, IIRC. It's now worth $16 and I haven't received a single sprout in all that time, despite that the wallet has been synced and running more or less continuously on a laptop I set up specifically for running wallets. So, this experiment has played out exactly as I expected based on the amount of money I was willing to put into it...  ;D

You're doing something wrong... or you aren't holding enough coins to allow for sprouting, possibly.
I bought over a million coins mid july, and I've been sprouting in batches of 1000 every couple of days ever since. It's held its value fairly well too in the grand scheme of bear market crypto so I'm not down much at all.

Working as intended, I'd say!

Yeah, two key things you did different from me: you bought at a much more attractive price - I was wrong, my average cost was closer to 0.01 per BITB, or $50 total - and you bought way more of it. I have considered buying more over the past few months to give me a better chance of sprouting, but seeing as this project doesn't do anything new or have an interesting use case I haven't bothered.

the Bear market. OUCH. My mining rigs have been off for months but Beans are still sprouting strong and generating satoshis daily. 5000 beans really isn't enough to make a micrometeorite worth of impact. But I would like to drop one nugget of information on you: https://www.youtube.com/watch?v=olEo8pSSPiE

Sure, the interval between sprouts with just 5k beans is quite extended, but I should have received at least one sprout by now (it's been 9 months). I may buy another 15k beans to bring the sprouting interval down to around 2 months, but no way am I going to spend more than this token amount - another $18, basically - on a project I otherwise never viewed as anything but an interesting experiment.

i have a drop over 10k in a wallet ...

it says expected time to earn reward is 92 days ???

it has been synched for 23 days now ?


 ???

10k Beans is very few...I've had 6 sprouts today. not enough for me so I'm turning my mining rigs back on... its cold in the house anyway.

kinda a wasted project  IMO  ???

From your view, probably every coin is a wasted project right now  ;D

actually quite opposite -i have some incredible investments in this area ! - wish u didn't judge .. but i understand i spoke poorly about the beans ..? i wanna luv the project !


i held my coins for over a year -- then decided to throw in wallet to try the sprouting ..... its been months with no sprouts
.. have not had much luck ?   no sprouting ... and long time estimate from wallet ?

im glad its working for you but it must be selective ??

im all about decentralized blockchain especially bitcoin of course !



maybe you could offer some assistance if the sprouting really works ?

I have no problems staking other coins or running my nodes ?

but this sprouting is not working ?

thx in advance

namaste

Im bit confused here.  So if you have beancash, you could store it in a wallet to get more beancash?  Something similar to like waves where they give out rewards etc?


Also thoughts on beancash?  I bought a while back and the price has dropped huge already. 

Any future with bitbean or beancash as now its called?

All I can say is I've been sprouting beans ever since I bought and had my wallet open. Daily.

The only shame is that the coin has lost a lot of value since last summer and the staking hasn't compensated for the price drop.

But oh well, that's the same picture everywhere. We're all waiting for the bull market to come back...

Lol... I finally got a sprout on my original 5000 BITB after a year. Too bad I need to get 10 more sprouts just to break even.  ::)

Crypto - the dotcom bubble 2.0

Well, at least you know you did everything correctly!
Basically your holding just increased by 20% in a year, what are you complaining about? ;D

Tbh the problem with staking and sprouting with smaller coins is that they just cannot sustain their own inflation. Add a nice bear market on top of it and you've got your little personal disaster!  :D

Yeah, a similar thing happened with TrezarCoin, but at least they are developing a use case called TrezarTravels; BitBean or BeanCash or whatever the fuck this disaster is called has absolutely nothing going on except inflation. Bring on the Weimar Republic style wheelbarrows to carry around $100 worth of BEAN.

Meh, I'm feeling a bit salty these days because my last running mining rig decided to start throwing a bunch of Kernel Power errors and it's been a year since I had to mess with pixel clock patcher and all the other fun stuff that goes along with getting AMD cards to mine.

You need to have your beancash wallet open 24/7, or as much time as possible, this way you are "sprouting" your beans.
You can find a Bean Cash Sprouting Calculator HERE (http://sproutingcalculator.com/)

Every coins price dropped huge in the past year :)
BTC  from 20000$ to 3900$
ETH  from 1300$ to 130$
ETC from 40$ to 4.5$
LTC from 300$ to 52$
BCH from 3500$ to 133$
BITB from 0.027$ to 0.000794$ ( BeanCash )
.....and more and more and more ...
as of Marc-03-2019

My thoughts on beancash and on all other coins are HERE (https://bitcointalk.org/index.php?topic=2208927.msg22248565#msg22248565)

Okay so what is the official beancash wallet?  So don't bother keeping it in an exchange then?


Wait so you mean have my computer turned no as long as possible and the wallet as well to sprout the beans?  What exactly is sprouting?  So we can get more beancash by having the wallet opened or something?  Example you have 10000 beancash.  You keep your computer on for 12 hours a day with the wallet open, what do you get after a day, a week, a monmth?

How much are you getting by sprouting?  Example you have 5000 or 10000 bitbean.  So you sprout it but how much you get a week or month?  So you telling me if you sprout it... say with 10000 bitbean... after say a month, you can get 10 or so?  Im randoming thinking of a number.

Sprouting is staking .. so you need numerous beancash balance in your wallet and it requires 6 hours for the balance to mature (after the coins transfer to your wallet) before using it for sprouting. More mature balance that you hold, more reward you can get.

To calculate the sprouting reward, you can visit this link https://sproutingcalculator.com/

I already visit the website, and I see that we need more than 100k if we want to earn a big bean, and I tried with 10k, and it's only getting a very small bean. We need to wait for a year or more before we can earn nice amount and I think we need to rent a VPS which could stay online in 24 hours a day. If we use a personal computer, I think we can use an old computer which we don't use it for anything so we could try to sprout the bean.

How much beans are you getting a week or month with the 10000 beancash you have?  Im curious but does using the wallet to sprout so to speak use a lot of electricity or anything like that?


So if you have your computer on at least 12 hours a day, that is not enough to sprout the bean?  I checked the site and it seem you earn 250 beancash for every 10000 beancash every month according to that calculator.  But that is incorrect?  Thats only if you have your computer on 24/7 for an entire month?  So if only 12 hours a day everyday, you get 125 beancash a month? 

Incorrect six ways to Sunday.

Block reward from staking (sprouting) is 1000 BeanCash, so if the calculator says you'll make 250 BITB/BEAN per month then it will take you, on average, 4 months to receive a stake (sprout). Assuming the wallet is open 24/7, that is.

If the wallet is only open 12 hours per day then it will take twice as long to receive a sprout (again, a statistical process). Consequently, the larger the number of BITB/BEAN in your wallet the more accurate the sprouting calculation tends to be. I use an old laptop for my wallets and set the screen turn-off time when not being used to 5 minutes so it consumes hardly any power - maybe 20W-40W or so.

Okay so to do this, you need minimum 100000 beancash?  Or is 10000 too little?


Okay if you have 100000 beancash to do this, how many would you get a month on average if you have your computer on 24/7?  If you have it on 12 hours a day then its half that right?  But does this increase your electricity by a lot or anything like this?


So what if someone has 1 million beancash?  Of course that isn't even lot of money because of how much its worth now.  So if they have it on all year 24/7, they expect to earn how much beancash?  So basically assuming beancash stays same price the entire year, they are basically earning interest off of this?  So how much percent interest is this roughly in a year if it being on 24/7?  Say 1 million beancash... you earn how much per month and how much per year?  Because if it stay same price, isn't this better than money in the bank so to speak?

I like the idea of the PoS coins but this really gets ones goat up when people in the space bang on about energy waste and how PoW is demonised (not you MagicSmoker, but thanks for reminding me about this rant). This example is leaving a machine on round the clock to stake and consuming energy just for that purpose...

Really strange as its around half of what a 1060 can draw that full tilt mining (well on a light algo like phi etc you can go conservatively get under 80w) so in a nutshell not really saving the planet is it?

Guys, there are thousands of alternative mining methods. POS is nice, of course, but the concept that the developer of Sound Money Coin offers I like more. The coin is already being traded on the exchange. Today, you can get a coin by spending a penny. Look, you will not regret!

Think about the fact that staking takes literally zero computing power, so you can run several wallets on one machine and still draw very little power. Nobody says you have to use one PC per wallet... So get yourself a few staking wallets, install them on a PC that's on all the time by default (server, HTPC, whatever) and profit. Simple.

okay so can someone give me the steps to sprout bitbean?


How much minimum bitbean would i need?  Would i need at least 100000 bitbean?


So if i have that much and have my computer on 24/7, how much bitbean would i earn a month?  And in a year i earn 12x it right?  But are there like high electricity cost or anything like this with this program open all the time?  Is it fine if you use your regular computer that you do everything on it or its better to use a separate computer?


Also assuming bitbean stays same price the entire time, wouldn't you be earning interest so to speak on it?  And if you how much percentage?


So if someone buys 1 million bitbean, they could make decent money doing this by sprouting it assuming the price stays the same?  Because that would be a nice way to make passive income.

There is no minimum balance to start sprouting, but the best way to increase your odds of getting block reward (1000 beancash) quickly by putting more bitbean in your wallet.  With 100000 beans you should get 5x block reward in two months.    



If you have an old laptop/notebook, you can use it for sprouting and you can reduce your electricity cost by turn off your laptop display or you can buy cheap VPS to run the sprouting wallet 24/7.

What does that mean get 5x block in two months with 100000 beans?  How much beans is that when you say 5x per month?


Wait so if you use your regular computer for this and have it turned on while you do other things, this will increase your electricity by a lot?  Thus sprouting uses lot of energy on your computer?

Don't you know the block reward from sprouting is always 1000 beancash? So when I said there is 5x block reward in two months it's mean you will get 5000 beancash rewards in total from (24/7) sprouting within two months (12 days for each block rewards). Your chance of getting block rewards depends on your balance and sprouting difficulty, you can calculate it here https://sproutingcalculator.com/



Sprouting doesn't consume much energy but if you can reduce the electricity cost by turn off the display, why not.

No i did not know that.  Okay so if you have 100000 beans.  In your example with you will get 5000 beancash everyday from 24/7 sprouting, that is every month or every 2 months?   So where do you get the 5x block reward?  So what if someone has 50000 beans?

With the balance 100000 beans and assuming your wallet open 24/7 running to sprout, you will receive 1000 beans (block reward) every 12 days on average. So if you leave the wallet open 24/7 for two months (60 days) you will get 5x Block rewards or receiving 5000 beans in total.

If someone had 50000 beans, the sproutingcalculator says he/she will get 1250 beans per month. It means he/she will receive 1000 beans every 24 days on average.

Thanks for that info.  So basically someone with a 100000 bitbean balance and has this program all 24/7 the entire year will basically make 2500 beans a month or 30000 bitbean a year?


Thus 100000 bitbean plus 30000 bitbean = 130000? 


If thats the case, one is going to make around 33 percent interest on the bitbean a year?

Like any pos there is compounding so a little more than 33% based on those numbers if you never sell or trade any of your rewards is how I see it.  Although that means you can not move your coins for a year so you will make 33% (or more) a year in coins, just dont know the value.

No, that's a really good point about running a computer just to keep wallets open for staking. My electricity costs $0.12/kw-hr so running that laptop costs me around $0.10 per day and I can guarantee you it isn't earning anywhere close to that from staking two different POS coins. Fortunately, I use the laptop to monitor my mining rigs as well so it would be running 24/7, anyway.

 :D

Yeah I think you got my point whereas others didnt!

A modern hardware laptop would be good, but there's bound to be people using old rigs with poor hardware efficiency leaving them on 24/7. I use a power meter at the wall so know from a variety of systems that all the watts add up and counts when mining/staking/zombie use etc.

In the time it took me to mine 5$ worth I sprouted 80$ of Beans. Factoring in electricity consumption my original estimate is no longer accurate, its more like sprouting is 20x more profitable. Beans are still cheap for the nonce I should probably buy some more.

Not sure how long your mining period would be to mine $5 worth, but to make $80 a day from sprouting would translate to owning over $80'000 worth of beans.

That's quite a large amount in its own right. But it's a very small amount compared to what it would have been, had Beancash not lost 95% of its value since the day you started this thread...

Yes the loss in value is alarming but... the whole market is down... and before the loss in value I took everything I originally invested out so I am all in profit no matter what I do.

My main mining rigs are off so for now I'm just using one rx 580. It took 17 days mining bittube to get that 5$. I'm not being aggressive, just trying to generate sats in a passive way for now.

The 95% loss sucks, for sure. At one time I could have sold my Beans for 225k$ but I thought BTC was going to soar to greater heights and let it ride. Beans will recover, the market will recover, we shall see.

Okay so ppl say you should have at least 100000 beancash in order to sprout.


So say i have 100000 beancash... i dont have that much, would need to buy more. 


So if i leave my wallet on all day for 1 whole month, i would earn 2500 beancash.  So that would mean at the end of the month, my beancash balance would no longer be 100000... but 102500?  Can someone confirm this?


So assuming beancash value does not drop... let say you buy 100000 beancash right now.  Then you sprout them for an entire year... that 100000 beancash would have a balance of 2500x12 months = 30000 so 130000 total bean cash... profit of 30000 beancash?  Thus you made 30% of beancash by just sprouting?



The OP talked about spending 6k on rigs... what in the world is that?  So what he bought... its to sprout the beancash faster or something?  What's wrong with buying a cheap laptop or using an old laptop for this?  Im confused the difference here?


The other thing is ppl talk about electricity costs.  Well if you are sprouting 24/7 on a laptop, does it use a lot more energy than say you downloading files or movies 24/7 on your laptop for a torrent site for example?  Like does sprouting use more electricity?  Example do you use more electricity having your computer turned on 24/7 and having it play a movie the entire time... or having your beancash wallet sprouting?


So sprouting is basically making more beancash?  Im confused at this because there is a set amount of beancash out there like a total max right... like similar to bitcoin?  But the difference is all the beancash is not mined yet? 


So assuming you buy say 500000 beancash now... then sprout every single day for an entire year... you going to make around 150000 beancash?  But are electricity costs a lot if you use your laptop?  What about compared to those mining rigs ppl talk about here? 

He uses the rigs for mining other coins (like eth, xmr, etc.) and sells them for buying more beancash. You can use your old laptop to sprouting (staking)

Im bit confused with this. So those rigs are to mine other coins... when you say mine... you mean create more coins or something?  Because i thought there is only a max supply of each coin but all those coins are not out yet?  So ppl could mine them and get coins by mining?



Why would he sell those coins to buy more beancash?  Is it because he can make a lot more money with sprouting beancash?



Do you know if one could you use a chromebook to sprout?  So basically if you have a separate computer you don't use... you could just let it turn on 24/7 and sprout your beancash and basically make money this way right?  Thus 100000 beancash you have... turn on computer 24/7... you make about 2500 beancash a month so 30000 beancash a year?  So say you buy beancash at 0.001.  You buy like 1 million of of them so $1000 cost.  Now you sprout them all year.  You earn about 300000 beancash so now 1.3 million beancash in your wallet?  Now assuming beancash price stays at the 0.001 price... then you profited 300000 x 0.001 = $300 on your $1000 investment?


So basically if you buy beancash and sprout it... unless the price drops... you can make money this way?  But a while back i got beancash at 0.01.  The price dropped over 90% already.  So basically that situation you lose money since even had i sprout it... well i lose because of the price drop right?


So what other coins besides beancash can you do this where the price is sort of stable?  Because if its stable, well that mean you can earn passive income then right?

The rigs were mining XMR, you don't need a mining rig to sprout (stake) Beans.

Yes, I sell mined coins for more Beans because I earn more sprouting, its like compounding interest. I'm trying to maximize satoshi generation.

Does a chromebook run windows? if so, then yes you can sprout on it.

Something like that... at last tally I was making 80$ a week on sprouts but I haven't recalculated in a while. so ceteris paribus I'd make ~4000 a year.

The price drop confounds the gains in sprouts.... BUT... I took ALL of my initial investment out already. Which means I am all in profit so as long as I am generating satoshis I don't have to care so much about the price. Investing is not guaranteed.

This is the most passive thing... I refresh a few stale blocks every-once-in-a-while, make sure it's running and it keeps sprouting all over the place. As far as stability the market is moving... but you should check out Alpha Cryptos Proof of Stake experiment on youtube. Beans were a steady champion.

I think the moment on you pick staking as an investment option you need to realise this isn't mining. This is investing, you've got market risk.

So you should diversify your staking portfolio. Personally I went into a few coins just for that reason. Picked NPXS, BEAN, Linda (now Metrix) and VEIL. All of which have earned very nice staking interest... But of course, partially offset by general market moves.

Isn't that true of mining as well? It's a significant investment to buy mining equipment. Look at what happens to folks buying on the second or third round from Bitmain. Like that D3 antminer, they got an expensive heater brick.

...which is why I don't buy ASICs.
GPUs are computer hardware that keep resell value over the years, regardless of their mining profitability. Buying a coin, you risk 100% of your capital. Hardware is not the same at all.

With GPU rigs you can still make money every day whilst the price of the coins go down. Not so if you invest in the coins outright.

True GPU still make some money but they depreciate in value as well. Just look on eBay and compare to the Eth mining boom prices... I'm just saying that even considering the market drop I'm making more through sprouting Beans (one CPU) than I could make mining with 12 GPUs.

Still sprouting strong !!!

Where are you all buying/selling beancash now?

Well my wallet is synced how often is sprouting and why isn't it sprouting.  Do I need to go to sprout lake ha ha I wouldn't do that do anyone.  Any way I have 74,000 or so beans is that not enough to sprout?  How do I enable sprouting or maybe someone can send me the .0022 bitcoin back this is kind of cruel I think if I have to wait a month to get out of this it seems its all rather cruel.  Can someone give me some support or advice?  How do I sprout?  I have the windows wallet fully synced.