Is anyone actually turning a profit with BURST mining?

[Shiroslullaby]

I love Burst, its an amazing project with a great GUI wallet and some really cool ideas,
but I'm wondering if anyone out there is actually MAKING money by mining this coin, or if its purely for speculation that the price will go up?
(Price is currently 63 satoshi on Poloniex as I write this.)

Even with the decreasing cost of hard drive storage, you need many Terrabytes of space to get any results.
Hoping someone with a large setup can post their cost of equipment, the amount of coins they are getting, and their expected ROI.

[adaseb]

Most that are mining BURST already have a bunch of drives sitting and doing nothing. And with the amount of electricity it uses its pretty much free money for some.

[CryptoDude2727]

I love Burst, its an amazing project with a great GUI wallet and some really cool ideas,
but I'm wondering if anyone out there is actually MAKING money by mining this coin, or if its purely for speculation that the price will go up?
(Price is currently 63 satoshi on Poloniex as I write this.)

Even with the decreasing cost of hard drive storage, you need many Terrabytes of space to get any results.
Hoping someone with a large setup can post their cost of equipment, the amount of coins they are getting, and their expected ROI.

I don't have a big rig (12 TB), but I'm mining, strategically buying quite a bit....and I'm holding.  I see big things coming from BURST, seems like a missed opportunity just to dump on an exchange.  The HDD mining is very cool though.

I know that doesn't answer you question, but just my view.  

[nigttran]

Price very low, so not profit when minning with BRUST.

[Amph]

Most that are mining BURST already have a bunch of drives sitting and doing nothing. And with the amount of electricity it uses its pretty much free money for some.

more like free peanuts, if you don't have the hdd already it's not worth it, too much of an investment for few cent

[thedue]

I´m curious how much you´re getting per 1TB... seems to me that the calculators are not very accurate or something might be wrong with my setup / pool?

Looks like I´m mining around 150 BURST in 24h using 6.5TB... regarding http://burstcoin.biz/calculator it should be more .. 421 for now..

[toptek]

Most that are mining BURST already have a bunch of drives sitting and doing nothing. And with the amount of electricity it uses its pretty much free money for some.

more like free peanuts, if you don't have the hdd already it's not worth it, too much of an investment for few cent

Unless it's a hobby i gonna buy about 8 to 10 TB worth or doing it but it is a hobby for me and burst looks like a lot fun to learn and i can all ways use those HDD for other things ..

[PovertyByte]

So I have to allocate loads of storage for mining, but not for the burst coins themselves correct?

I could easily plug up 2TB's into my computer for but unless this has promise to grow in value it doesn't seem like its worth setting up

[ujang1]

Mining of this coin is beneficial only to holders of servers with hundreds of terabytes.

[CryptoDude2727]

So I have to allocate loads of storage for mining, but not for the burst coins themselves correct?

I could easily plug up 2TB's into my computer for but unless this has promise to grow in value it doesn't seem like its worth setting up

No you don't store the coins on your computer.  It does take some time to plot your hard drive but overall I found it very easy.  I mine 24/7 and even mine BURST in the background of one of my work computers I use day to day.  Have mined about 80,000 coin in about 3 months.

To others.  Yes...if your just looking to mine and dump  BUSRT the price is not that high today.  But I happen to think it's a project with great potential and the price may rise significantly in the future.  Just my opinion.  

[Amph]

So I have to allocate loads of storage for mining, but not for the burst coins themselves correct?

I could easily plug up 2TB's into my computer for but unless this has promise to grow in value it doesn't seem like its worth setting up

Not you don't store the coins on your computer.  It does take some time to plot your hard drive but overall I found it very easy.  I mine 24/7 and even mine BURST in the background of one of my work computers I use day to day.  Have mined about 80,000 coin in about 3 months.

To others.  Yes...if your just looking to mine and dump  BUSRT the price is not that high today.  But I happen to think it's a project with great potential and the price may rise significantly in the future.  Just my opinion. 

if you think so then just buy the coin, no need to waste time and money for few satoshi

you can easily buy 100k burst with 0.075 btc and wait for the pump

[CryptoDude2727]

So I have to allocate loads of storage for mining, but not for the burst coins themselves correct?

I could easily plug up 2TB's into my computer for but unless this has promise to grow in value it doesn't seem like its worth setting up

Not you don't store the coins on your computer.  It does take some time to plot your hard drive but overall I found it very easy.  I mine 24/7 and even mine BURST in the background of one of my work computers I use day to day.  Have mined about 80,000 coin in about 3 months.

To others.  Yes...if your just looking to mine and dump  BUSRT the price is not that high today.  But I happen to think it's a project with great potential and the price may rise significantly in the future.  Just my opinion. 

if you think so then just buy the coin, no need to waste time and money for few satoshi

you can easily buy 100k burst with 0.075 btc and wait for the pump

I have bought a bunch of it as well.  Mining is a fun way to participate in the community for me...although I may ramp up my TB (currently only 12 TB)  significantly at some point.

[QuintLeo]

It's worth doing if you already have the spare hard drive space, but it does NOT make sense to buy additional drives for BURST mining - even the low-cost-per-TH drives like the Seagate Archive series (which should work VERY well on Burst) would take FOREVER to pay off, with a significant chance of "dead drive" before it managed to do so.

 If the price doubled, that would change, but at this point the ROI payoff is measured in YEARS.

 If you're building a new machine anyway, it might make sense to "oversize" the drive a bit, but otherwise no IMO.


 On the up side, for those few of us that still have some 32-bit OS machines, the Java client WILL work on a 32-bit Java installation - one of the very FEW coins mineable at all on a 32-bit system.

[CryptoDude2727]

It's worth doing if you already have the spare hard drive space, but it does NOT make sense to buy additional drives for BURST mining - even the low-cost-per-TH drives like the Seagate Archive series (which should work VERY well on Burst) would take FOREVER to pay off, with a significant chance of "dead drive" before it managed to do so.

 If the price doubled, that would change, but at this point the ROI payoff is measured in YEARS.

 If you're building a new machine anyway, it might make sense to "oversize" the drive a bit, but otherwise no IMO.


 On the up side, for those few of us that still have some 32-bit OS machines, the Java client WILL work on a 32-bit Java installation - one of the very FEW coins mineable at all on a 32-bit system.

I guess it depends on short term vs long term perspective and where one thinks BURST is going.

By dead drive...you mean strictly from mining BURST?  I know of people that have resold drives after mining a ton of BURST over time.   So that has to be factored in as well. 

[shadowhlohavec]

I bought 2 HDD 3+2TB for burst mining, cost me 100$, In the first days the earning were great 0.5$-0.7$ per day, I was mining at a pool, but then suddenly the profit dropped to 0.05$ per day, I'm not sure why, maybe difficulty or the pool had only luck in the first days... So I have mined about 10$ so far which I invested all to assets... Now I'm considering to try luck on solomining or just to sell my hdd... (Storj X, maid, sia are coming  )

[Shiroslullaby]

Yes...if your just looking to mine and dump  BUSRT the price is not that high today.  But I happen to think it's a project with great potential and the price may rise significantly in the future.  Just my opinion.  

Yes Burst is way more developed and (IMO) a better project than lots of other coins that currently have a higher price.
My goal is to get 1 million Burst for the (small) chance that it one day becomes worth something. Even at ten cents that would be a big return on the investment.
And if the price ever hit $1 I would look like a genius!

[bittawm]

https://bitcointalk.org/index.php?topic=1746923.new#new

buy drives

[KougarLOB]

I've been mining BURST for about eight months now and found 214 blocks as of today.  http://burstcoin.biz/address/17643277032552720391

Built a multi-coin mining rig with three video cards and 60TBs of drives shoehorned in a full tower case.  ETH or ZEC on the GPUs, BURST on the HDD, and whatever is profitable on the CPU.  That tower is also staking CLAMs and running various Poloniex bots!

Most of the drives I found cheap on eBay.  Spent more than I should on a few enterprise-grade drives but they keep their resale.  The payout per day in dollars is low and getting lower.  Block reward drops 5% every month.  Like all things the rich are those who got in early.  I tend not to keep the coins but prefer to either invest in the BURST marketplace or flip them on Polo.  Bots ignore BURST as it isn't traded on margin.  I'll flip any given amount by 1.5-2% every few hours when the market is sideways.  Converting to BTC isn't all bad as long as you find another way to reinvest the BTC.

BURST is energy efficient as long as the computer is already on for other reasons.  Don't power a PC for BURST alone.  Mining on a phone is dumb - you'll see way more from faucets. 

No moral to this story; just sharing my experience.

[CryptoDude2727]

I've been mining BURST for about eight months now and found 214 blocks as of today.  http://burstcoin.biz/address/17643277032552720391

Built a multi-coin mining rig with three video cards and 60TBs of drives shoehorned in a full tower case.  ETH or ZEC on the GPUs, BURST on the HDD, and whatever is profitable on the CPU.  That tower is also staking CLAMs and running various Poloniex bots!

Most of the drives I found cheap on eBay.  Spent more than I should on a few enterprise-grade drives but they keep their resale.  The payout per day in dollars is low and getting lower.  Block reward drops 5% every month.  Like all things the rich are those who got in early.  I tend not to keep the coins but prefer to either invest in the BURST marketplace or flip them on Polo.  Bots ignore BURST as it isn't traded on margin.  I'll flip any given amount by 1.5-2% every few hours when the market is sideways.  Converting to BTC isn't all bad as long as you find another way to reinvest the BTC.

BURST is energy efficient as long as the computer is already on for other reasons.  Don't power a PC for BURST alone.  Mining on a phone is dumb - you'll see way more from faucets. 

No moral to this story; just sharing my experience.

You're using the BURST marketplace to buy thing or investing on the BURST asset exchange to get a ROI? 

[QuintLeo]

It's worth doing if you already have the spare hard drive space, but it does NOT make sense to buy additional drives for BURST mining - even the low-cost-per-TH drives like the Seagate Archive series (which should work VERY well on Burst) would take FOREVER to pay off, with a significant chance of "dead drive" before it managed to do so.

I guess it depends on short term vs long term perspective and where one thinks BURST is going.

By dead drive...you mean strictly from mining BURST?  I know of people that have resold drives after mining a ton of BURST over time.   So that has to be factored in as well. 

 Not specifically from mining burst, but just that drives DIE over time - and drives made in the last decade seem to be a bit less reliable on a long-term basis vs many older drives.
 Burst doesn't seem to put a lot of load on the drive once it's plotted.