Topic: Sprouting Bitbean is 10X more profitable than mining - page 5. (Read 20093 times)

I have beans and antminers also
Sprouting beans basically not using any extra electricity , as the wallet is running on one of my mining rig without any problem 24/7.

For sprouting you need to buy Bean cash ( BITB ) on exchange, download the official wallet , send your BeanCash to your wallet , keep your wallet open for sprouting as much as possible, and you can make some income.
The only thing i did not liked when i started my bean cash adventure is , the wallet program need a lot of time for synchronizing with the Bean Cash network, lot of time i mean way over 24 hours ... actually it was around 2 days...

That sprouting calculator someone mentioned earlier is way off , i would say you can get 75% what that calculator says ... That is my own personal experience ...

How much are the Antminers Worth when you hit ROI? You still got your initial invested beans as comparison to the Antminers. But there is no guarantee that the beans won't fall in price and the profit from the miners may change, up or down. It is very hard to know Before what is going to be most profitable and very easy afterwards and say what have been most profitable.

I have no beans and no antminers either. But just wanted to say it is not easy to do these kind of calculations. Maybe you can do a compromise, buy some miners and buy some staking coins and invest some of the mining profits into staking coins. Spread your risks. Maybe one of the alternatives is going to be much better than the other but you can't say for sure which one is going to be best in future.

No I don't have any beans, my interest in this thread was because "Sprouting Bitbean is 10X more profitable than mining", so I like several others started to calculate if it's really true and whether or not I should start getting some bitbean's instead of instead of mining.

Since you are making at least $94/day, lets just round that up to $100/day or $3000/month for comparison purposes.
So if I wanted to get into bitbean sprouting today with a goal of making $3000/month :
I would need about 5.6 million beans to sprout ~$3000 / month.  5.6 million beans would cost ~$75,600, lets just round down to $75,000 initial investment to make $3000 / month.
So the ROI would be 75000 / 3000 = 25 months to break even.

Comparing that to the Antminer L3 (since it's available to order now), lets say an L3 after shipping, customs (US), and power supply = $1900 each
you could buy 39 L3+ miners
Each L3+ is currently making about $10 / day profit (using my electric rate of $0.10 /kwh)
so 39 * $10 = $390 / day * 30 = $11,700 / month
So the ROI would be 75000 / 11700 = 6.4 months to break even

Looks like you got lucky by jumping in super early if you were able to get that many beans for cheap, but the ship has sailed for new comers...

Looking back to November when a bean was $.0021 / bean you could have gotten the 5.6 million beans for ~$12,000 so that would be a 4 month ROI.
A 4 month ROI is better than the current 6 month ROI on an L3, but it's in no way 10X more profitable than mining, unless you have a terrible mining setup.  even just buying GTX 1060s at an exorbitant inflated price would give a better ROI than buying bitbeans for sprouting at this point.

All that being said, I'm not here to argue or bash bitbean sprouting...  So if there's something I'm missing and there is a way for me to get into it with a better ROI than mining, let me know...

true that mining and investing are both risks, but I fail to see why beans are more profitable than mining.
If beans are giving a 4% per month return, then comparing that to the D3 (I have 2) :
I'm running my D3s at low speed to cut down on heat, after factoring in power consumption they are profiting around $3.15/day
$3.15 * 30 = $94.50 / month
I paid around $1700 with the power supply, so $94.50 / $1700 = 5.6% monthly return.

So a D3 is already more profitable, and this is the worst of times for mining with a D3.
Take into account that at one point the D3 was pulling in $8 / day profit and the D3 pulls even further ahead. 

Maybe if you loaded up on beans a while back when they were super cheap it was worth it, but now I just don't see it...

same risk with mining.... look at what happened with the D3 antminers. Investment is risk, that's why its not for the weak. Meanwhile my beans are pumping out more Beans and my mining rigs can't even compare in satoshi generation.

and stuck with the bag if the price falls

So, 4% a month, that's 60% a year.

I missed a zero in the number of beans in my previous reply but, regardless, what was wrong in that other post was, "so you basically get rewarded with 4 beans per $100 worth of beans?". This is because a time frame wasn't specified - it wouldn't have been off by too much if  "every day" was specified, for example - but also because $100 gets you 10k beans and that should bring in an average of 400 beans per month (or, more correctly, you have a high probability of winning a full 1000 bean block every 2.5 months).

So, no, $100 worth of beans does not get you 4 more beans.

Your calc is correct

at $0.01 each, $0.10 would get you 10 beans, $1.00 = 100, $10 = 1000, $100 = 10000, $1000 = 100,000 beans

Using the sprouting calculator site it shows 100k beans bringing $40 worth in sprouts a month.

So how is it a no?  is the sprouting calculator wrong or are people confused with how this works?  Everytime I've done any calculations it doesn't look anywhere near worth it to invest in beans, am I confused? if so, please someone explain how...

err, no.  beans only cost about $0.01 each right now, so $100US = ~1000 10000 beans. That said, if you want a decent chance of winning a block (1000 beans) every month you'll need about 25k beans, and for every week, 100k; etc.

EDIT - struck out 1000, corrected to 10000. Oops.

so you basically get rewarded with 4 beans per $100 worth of beans?  Doesn't seem like a great deal to me.  Thats $40 for $1000  Even in bad times, $1,000 in graphics cards would bring it at least $150 per month. 

http://sproutingcalculator.com/

electricity is very costly and i cant set up rig ... dont know when crypto will die

HA! IKR? but! I hear it may drop more, maybe under 5k. so I am going to hold off making any moves right now. My plan is to let the rigs and Bean Machine run and look at prices every once in a while.

I'm more inclined to buy more BTC right now, rather than spend it to buy anything else.

I think Burst is worse. Thankfully, you can download 99.9% of the blockchain and sync the rest.

2500? come on man... what mining rig could you buy with that much? you have to have some skin in the game. I had a bad day yesterday and only got 4 sprouts. AT&T did something to my internet the other day and it hasn't been the same since

Firstly, you have to explicitly check both boxes for private and public networks if the Windows Firewall popup appears (usually only the first time a program is run from any given location). If you failed to check both boxes - just hit okay and continued - then the default action is to block public network access. Ergo, the wallet won't work.

Secondly, it took my wallet a couple hours just to make 1 stable connection, and it took over a day before it had more than 4 connections (and over 3 days to fully sync up with the blockchain). Personally, if I had tried running the wallet before I bought bitbeans I would not have bought them. Ain't nobody got 3 days to wait for a wallet to sync.

That said, I now have 2500 bitbeans and according to the wallet my average sprouting time varies between 220 and 320 days. So also keep that in mind when deciding how many bitbeans to buy, or even whether it is worth acquiring them in the first place. As expected, I would need about 10x more bitbeans to have a decent chance of sprouting once a month.

which wallet version? If on windows its usually due to Defender and the Firewall settings.