Is anyone actually turning a profit with BURST mining?

[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.

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.

Yeah...I don't think at all based on my experience. 

[1713512998]

1713512998

[1713512998]

1713512998

[1713512998]

1713512998

[1713512998]

1713512998

[1713512998]

1713512998

[KougarLOB]

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

Yes to both.  BURST mining is a source of capitol.  I'm running a PC for GPU mining, might as well maximize the power efficiency.  I sell on Polo then rebuy a few sats lower and sell again.  Repeat.  A lending bot keeps it the cash active if I'm not around.  All the secondary trading makes it impossible for me to figure ROI.  It's more of a curiosity, really.

To your other point, no, it doesn't stress the drive at all beyond writing plots.  The only stress is the constant spinning motor.  SSDs are cost prohibitive unless you already have free space.  Mining software skims the data every four minutes on average, reading only a few megabytes of data for every hundred gigabyte.

I wish I had gotten in the beginning when block rewards were 10,000.  Now it's under 3,000/block.  -5% every month.

[QuintLeo]

I love Burst, its an amazing project with a great GUI wallet

 Which reminds me - I've never had that "great GUI wallet" ever work. PERIOD.

 It appears to require you to have IE installed on your machine - I don't allow IE to exist on my machines due to it being NOTHING MORE THAN A GIANT SECURITY HOLE.

 The web wallet works, but is a PITA compared to most wallets I've used.




 Mining does actually stress the drive - but only for a short time usually every few minutes, and doesn't appear to be heavy stress - no worse than a lot of games put on a drive.

 Also, don't believe the calculators - due apparently to how the network is set up, they seem to CONSISTANTLY underestimate the "total network size" and overestimate the rewards you can expect on average.

 In a month and a half of mining, I've seen "more than the expected reward per day" exactly 3 times - and *ALL THREE* of those days were days I managed to mint a block. My AVERAGE has been consistantly less than 70% of what the calculators estimate (and that was more like 60% prior to my minting 2 blocks in the last week or so, which put me close to the "average time to mint a block" calculation.


 I suspect the "total network size" issue is due to the pools not being able to account correctly for multiple machines mining to one address - they only count the SINGLE "most valuable" machine as of the most recent block you submitted a rewardable nonce for.

[kwab]

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.

Since January, price increased by 36x

[Marvell1]

I love Burst, its an amazing project with a great GUI wallet

 Which reminds me - I've never had that "great GUI wallet" ever work. PERIOD.

 It appears to require you to have IE installed on your machine - I don't allow IE to exist on my machines due to it being NOTHING MORE THAN A GIANT SECURITY HOLE.

 The web wallet works, but is a PITA compared to most wallets I've used.




 Mining does actually stress the drive - but only for a short time usually every few minutes, and doesn't appear to be heavy stress - no worse than a lot of games put on a drive.

 Also, don't believe the calculators - due apparently to how the network is set up, they seem to CONSISTANTLY underestimate the "total network size" and overestimate the rewards you can expect on average.

 In a month and a half of mining, I've seen "more than the expected reward per day" exactly 3 times - and *ALL THREE* of those days were days I managed to mint a block. My AVERAGE has been consistantly less than 70% of what the calculators estimate (and that was more like 60% prior to my minting 2 blocks in the last week or so, which put me close to the "average time to mint a block" calculation.


 I suspect the "total network size" issue is due to the pools not being able to account correctly for multiple machines mining to one address - they only count the SINGLE "most valuable" machine as of the most recent block you submitted a rewardable nonce for.

what tool are u using to mine? i tried the miner on the java wallet but its stupid unstable and loses connection often

is there a C based miner that does not use java for cpu?

[QuintLeo]

Blago doesn't use java and is specifically for CPUs.

[vuli]

not worth anymore

[crazyheinz]

Is it still worth it to try to mine burst with hdd?

[Hamphser]

If you did ride on even or buying or mining BURST since january then you will surely making some serious cash as of now the price has increased just like what OP have been assumed. It does increase and for sure he is on profits now when he still holds up those burst coins. HDD nowadays in my country is quiet expensive thats why i didnt decide to jump in on this HDD mining but i would say its much more hassle free than those in GPU mining.

[Vann]

IMineBlocks on YouTube does a monthly video with his Burstcoin earnings from a 100TB setup:

https://www.youtube.com/watch?v=XtbYN7PUIRI

115TB Plotted Space = 26,802 Burstcoin June 1st -30th 2017

[thedue]

July will be interesting tho 

[QuintLeo]

If you did ride on even or buying or mining BURST since january then you will surely making some serious cash as of now the price has increased just like what OP have been assumed

 The total network capacity has ALSO increased a ton since then, leaving profitability more or less flat overall, with a SMALL surge in May and June when the price outpaced capacity increase.

[kasicrypto]

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.  

Hi how many TB of space do you have to be making 80,000 coins in three months?

[mikbal]

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.  

Hi how many TB of space do you have to be making 80,000 coins in three months?

Difficulty have increased a lot in last month. Currently i mine about 8 burst a day per TB.
Almost 1.5 years of roi at $30 per tb. I stopped investing in more hdds at the moment.

[ekurtovic]

so it seems it is not good for mining any more?

I new in this, and I have some capacity for this. But if is not worth any more, better not to start? 

[superzebra]

i think it is dead. The idea itself much worste then new ideas when that space on drives are used somehow and sold for storage reasons.

[wmikrut]

i think it is dead. The idea itself much worste then new ideas when that space on drives are used somehow and sold for storage reasons.

This coin is far from dead... it's just starting.
I suggest you do a little more research before spreading fud.

[erre]

Burst is a great project, but sadly there are no incentives to mine it at the moment. Unless you have a BIG data center sitting unused seems that you would do way better simply buying it.

[oddity2505]

i think it is dead. The idea itself much worste then new ideas when that space on drives are used somehow and sold for storage reasons.

This coin is far from dead... it's just starting.
I suggest you do a little more research before spreading fud.

Are we talking about an idea or about making some profit? Profit-wise it's not worth it, especially compared to how much you can make if investing into a gpu rig, $1-2 per TB per month.

[wmikrut]

Burst is a great project, but sadly there are no incentives to mine it at the moment. Unless you have a BIG data center sitting unused seems that you would do way better simply buying it.

Yes.. for solo mining I agree, a lot of TB is needed.
However, you can still pool mine and you still use minimal power.  In that respect you can make a profit long term.

What will the price be in 5 years?
If it was going to $5/Burst, would you mine now?

It will most certainly rise as all coins have in the coming years.