Topic: Mining with your hard drive...Is it worth it? (Read 514 times)

Mr.BUG and His Mining Revolution
http://medium.com/bhd-community/mr-bug-and-his-mining-revolution-9d1dbb70cb11

http://youtube.com/watch?v=V0yrmSQAaWQ
http://youtube.com/watch?v=d916SBET-nE
http://youtube.com/watch?v=n2Mtf8C9784
http://youtube.com/watch?v=FHh5lAx5o3Q

The BitcoinHD (BHD) network will soon launch merged mining with CHIA.
The CHIA network, according to conservative estimates, consists of 20 million terabytes.
Now there are a little more than 6 million BHD in circulation out of the future 21 million.
To mine BHD, you need to stake 3 BHD coins on the pool for each of your terabytes (these coins can be transferred from the pool back to your wallet at any time).
If at least 10% of those who mine CHIA (2 million terabytes) start mining BHD, then they will need to buy back 6 million BHD from the market, and this is almost the entire emission at the moment!
Imagine how much BHD would then cost.

https://twitter.com/CommunityBhd
http://weibo.com/u/7003372660

Couldn't agree more with you, mate. It's not cost-effective to buy a hard drive with the hopes of getting a ROI in the shortest time possible. You're better off using ASICs or GPUs for mining crypto that would give you more bang per buck. If I were to mine any HDD-based cryptocurrency, I'd do so with spare hard drives taken out from old/decommissioned computers. I have a few that still work, so using them for "free money" would be the wisest thing to do. Of course, leaving them 24/7 mining crypto would shorten their lifespan. But that doesn't matter, since I didn't spend a dime on the drives. Even USD flash drives and SD cards can be used to mine HDD-based cryptocurrencies.

If developers want to attract a lot of people into their Blockchain projects, they'd need to improve the PoC (Proof-of-Capacity) consensus in every way. Focusing on small miners instead of the big ones (like Magi is doing with its PoW consensus algorithm) would allow HDD mining to be profitable within the crypto/Blockchain industry. At least, that's my point of view. But if there's no demand for HDD-based cryptocurrencies, I doubt developers would be interested in doing some changes to the already-established consensus algorithm. In the end, mining HDD-based cryptocurrencies like Burst, Sia, or Storj will be more of a hobby than anything else. Just my opinion

It's like buying a cheap pair of shoes every other month instead of buying a proper more expensive shoes which will last much longer.

There are few things to consider here, the first is electricity and secondly is difficulty rate, I know mining with HDD will be better compared to using GPUs because HDD don't drag huge electricity like GPUs but these HDD mining coins are very limited, the few popular ones already have high difficulty rate now, if you have free electricity and some big bad ass HDDs laying around then HDD mining is way better, power saving is marginal difference

Same goes for any low volume /low profit coin. If you can steal electricity/mine with botnets, it is profitable, but not for the average miner.

If you have access to stolen hardware, then sure, it can be one of the ways to maximize profit at the expense of someone else. But retail computer setups will only get you pennies in terms of earnings. Hard Drive letting for crypto projects is still very experimental and doesn't compare well to the readily available solutions. There is very low demand and ample supply. Some suspect that botnets are the major bidders, squashing demand. At least until a more viable network is built, such actovoty wouldn't be justified economically from rational parties with their own hardware, electricity and repair bills.

Agree. Burst was one of the best (if not the best) coins out there on the market which allowed anyone to mine it with free HDD space. But as with any mineable cryptocurrency, difficulty increased becoming impossible for the average person to gain a substantial income with their HDDs. I believe that this is largely attributed to data centers which have a lot of storage capacity, gaining a greater advantage over everyday people. A mechanism is necessary in order to penalize the big miners, while the small miner is rewarded (like it's the case with Magi (XMG) today).

If Burst had that, I believe it would've still been profitable to mine it right now (aside that it'll be much more decentralized over time). Other coins like Sia and Storj allow you to rent your free HDD space but you'll not always earn money with them. Depending on demand for decentralized cloud storage, you could either make some big money or nothing over time. Sadly, PoC (Proof of Capacity) cryptocurrencies are not as actively developed or adopted as other coins in the mainstream world. Which leads me to believe that coins which are mineable via GPUs or ASICs will still be the most profitable ones on the market today.

Nonetheless, I'd have to say that it's not worth mining any PoC cryptocurrency right now because of their extremely low profitability. You'll be spending more time and energy mining PoC coins than anything else. Those who're still mining Burst are doing it for fun than profit. Until the PoC space becomes more competitive, this will be the norm for a very long time. Hopefully, we'd get to see new coins that will adopt this consensus model over time in order to ramp up the competition in the HDD mining space. Just my opinion

I mine Burst, BHD, BOOM, DISC, LHD, XHD, BTB and HDD coin with the same Plots. Go to Discord, there you can find all infos an so on.

Are you mining only Burst?
I know that Burst have a calculator on their website that at least helps to make a estimative, but for another HD mining coins it's very hard to calculate

Do you have any calculator or how can we calculate the mining on BitcoinHD (BHD) for example?

With the right PID you can mine up to 8 coins at the same time. All infos you need find on foxypool or on discord.


Couple of month? Your read my posts? No i see XD mining with the same HDD´s for over 3 years!
I share it, but you don´t accept it 
I write a good POC Mining community here.

1.Burst Mining always read after 5 - 10 min your HDD´s for around 20sec and thats it. After that the HDD´s go to sleep like you said it will lengthen the life.
2.My workstation compiles files every second for the last 5 years. Read and write 24/7 no issue.

So please explain me what is harder for the HDD´s? First example or second example? I think playing a game is harder for the HDD.  

No one in this thread has any experience and posted some shit. I share 3 years of experience here and do not write anything that I have never done myself. Sorry that it is to smart for you

And you're the expert because you tried it for a couple of months and HDDs didn't die?

You lose credibilty when you claim to have knowledge which you fail to share just to try to look smarter than everyone else.
If you're so smart exlain why HDD mining doesn't accelerate aging.

I have 5TB HDD that I can still use to try out this mining algorithm, where do I start? which coin has lowest difficulty that I can mine using my HDD? I looked into BitcoinHD today and I regret not knowing about it while it was new, its now trading for 6$ per BHD

LOL you read the thread?

https://discord.gg/gNHhn9y

https://foxypool.cf



Go home kid. You mining with HDD no? So how can you say this? You don´t no how HDD Mining working, so please don't write crap if you don't have your own experience.

I am so interested in this POC mining algorithm but I can't find many POC coins around, they are very limited, if any of you can lead me to the right sources I will appreciate, I have many free HDD laying around that I can put to  good use

That's crap. Hard drives are mechanical devices subject to physical wear. It will age your HDD faster,
raising the probability of failure. There's a reason HDDs spin down whenever they can, it's to lengthen
their life.

It was worth it for Burst. I remember I didn't bother mining that because the profitability just wasn't worth it however if you kept all those Burst and sold in Q1 2018 then you would of made a hefty profit.

Right now I have no idea if there are any proof of capacity coins which are worth mining. The only upside to PoC is that its generally lower power usage that GPUs and ASICs. However if the profitability isnt there then I don't see the point.

At least, one is able to earn some profit mining PoC (Proof of Capacity) coins if there are no costs involved when obtaining the drive. In other words, if you find around some spare HDDs from old computers for mining Burst, Sia, or Storj, you'll be able to "make free money". The main issue with HDD mining is the risk of centralization over the long term. It's no secret that there are big data centers from prominent companies around the world (mostly Google and Amazon) which are capable of obtaining most of the blockchain network's rewards. This model is terrible for the small miner (or the average person), which explains why HDD mining is still unprofitable these days.

You won't get any issues running drives for a very long time, if you rely on good brands like WD and Seagate. It's believed that desktop drives (3.5 inch) are much more durable than those available for laptops (2.5 inch). Using NAS-capable drives like the WD Red or the Seagate IronWolf, you'll be able to mine for years without hassles. But with today's costs, one could say this more of a hobby than anything else.

I appreciate the list of services available for HDD-mineable coins, though. Never heard about Foxy Pool or Foxy Exchange before, but it's nice to know that there is still support for these type of coins. I believe that the most popular coin that you can mine with HDD right now is Burst. Considering that flash drives (USB drives) are dirt cheap today, they could be real useful for mining Burst, or the ones mentioned previously. I believe that it'll be quite a fun task for the one who's passionate about crypto.

You are a hdd miner? You read my post? Sorry but don't answer if you have no idea.

It will not kill your hdd XD

I heard that some are worth it, the higher the space of your hard drive the higher your income, the problem here is the life span of hard drives especially those using HDD that normal have problems later on and since this drive mining will be always it will easily kill HDD unless one use SSD which are more costly

Yes it was worth. At the start of BHD, i mine it solo and get 200 BHD in 2 month with 35TB. Sold 1 BHD for 0.4 ETH. So yes this was worth  

But at moment it is really hard. If you are interested, please check the best PoC mining community with the biggest non chinese BURST Pool (and 8 other PoC Coins) and the only PoC Exchange

https://discord.gg/gNHhn9y

https://foxypool.cf

https://foxy.exchange   we know we have very low Volume, but it is made for the community


My Burst Miner running for 3 Years now. No problems with the drives 

Was it ever worth it?

I may be biased but I never took it seriously. Doesn't it wear out the drive?
Hard drives and SSDs have a limited lifetime that is shortened by heavy use.

I've been checking out various cryptocurrencies on the market which can be easily mined via a Hard Disk Drive (also possible to mine them with a Solid State Drive). When using the mining calculator for Burst, I've noticed that mining with an HDD is not as profitable as it used to be a long time ago. Similarly, I've checked Storj and Sia's estimated earnings when renting your available HDD space, and everything was the same. Does this mean that mining with a hard drive is no longer worth it? Comparing other hardware for mining cryptocurrency, it seems to me that both GPUs and ASIC machines will give you the most profit in terms of USD.

What are your thoughts? Does HDD mining does have a future? Is it still worth it?