Sprouting Bitbean is 10X more profitable than mining

[MagicSmoker]

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

[plasmodesmata]

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.

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.

[plasmodesmata]

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.

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.

[plasmodesmata]

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

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

[plasmodesmata]

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...

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.

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.

[MagicSmoker]

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...

[plasmodesmata]

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.

[Travis726]

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)

[plasmodesmata]

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.

[Travis726]

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). 

[plasmodesmata]

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

[CryptoPicknAxe]

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.

[plasmodesmata]

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.

[CryptoPicknAxe]

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...

[plasmodesmata]

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.

[MagicSmoker]

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...

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.

[ronnylov]

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.

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.

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.

[CryptoPicknAxe]

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.

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."

[plasmodesmata]

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.

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.

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.

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

[smoolae]

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