Sprouting Bitbean is 10X more profitable than mining

[abhiseshakana]

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?

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/

[michellee]

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?

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.

[jerry0]

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? 

[MagicSmoker]

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.

[jerry0]

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?

[ZombieWorm]

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.

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?

[Cellerex]

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!

[dragonmike]

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.

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?

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.

[jerry0]

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.

[abhiseshakana]

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?

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.    

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?

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.

[jerry0]

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?

[abhiseshakana]

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

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/

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?

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

[jerry0]

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?

[abhiseshakana]

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.

[jerry0]

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?

[wheelz1200]

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.

[MagicSmoker]

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.

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?

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.

[ZombieWorm]

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.

 

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.

[plasmodesmata]

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.

 

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.

[dragonmike]

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.

 

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...