Mining burst using Siacoin contract?



  • @preslav1980 said in Mining burst using Siacoin contract?:

    Yes but here we a talking about siacoin. We will pay for renting that hdd"s. It's a just an idea.
    Siacoin wants 2$ for 1tb for month. So 100tb is 200$. Thats 2 block for the whole month with current prices.

    In addition we must pay 100$ for Download Bandwidth Cost. But still it's good enough. Don't you think?

    simple answer:
    Transfering bits is much costlier than storing bits.
    What kind of pipe do you have at home, like 400+ Mbyte/s ?

    You need to ingest 1/4096 of plotted volume every 4 minutes, 360 times a day.
    So you want to transfer 8.7% daily, or 2.61 times the plotted volume in a single month.
    That makes 261 TB/month for 100 TB of plots. And you don't want to spend 4 minutes (blocktime) and be faster, say, scan in a minute. You need a pipe with 261TB*4/30days/24hours/3600seconds=402 MByte/second.
    And SIA/whoever must deliver that..



  • As one of the original cloud miners I can tell you this will never work read times will be too slow... and never profitable

    Btw I never stopped cloud mining, was actually thinking about adding to my cloud as of late. I made a good amount off of amazon's free trial at the time too. The amount I made currently valued at $350, beats the $60/year service that I never payed for lol. I only run google clouds as they are free. Why not if you have the means.



  • @crutsy You're refering to Google's "free" Compute Engine ?
    There you have a f1-micro instance with local 30 GB storage and 1 GB traffic.
    If you collect 1000 free tickets, you get 30 TB, which collect ~100 burst per month day.
    [edited - thanks for pointing out that I was just blankly staring the screen and not thinking, being paralyzed by the fact that every idea is coming up again and again, even after 3 years.]
    <evil grin>



  • @vaxman said in Mining burst using Siacoin contract?:

    @crutsy You're refering to Google's "free" Compute Engine ?
    There you have a f1-micro instance with local 30 GB storage and 1 GB traffic.
    If you collect 1000 free tickets, you get 30 TB, which collect ~100 burst per month.
    <evil grin>

    You mean ~100B($7)/day.



  • @vaxman hmm haven't looked into that yet. You sound like you know a bit about it? Have you done this?



  • @crutsy Mining over any type of network is a no brainer, too much bandwith and energy wasted. I'd rather expand my local storage..



  • @vaxman This is always the best. But its fun to see what can be pulled from these big companies for free lol



  • if my plot is from 0-400000 and someone else has the same exact plot who gets the coin? I don't understand how it works. do i need a faster internet to win the deadline or is it just picked randomly then from all the hundreds of people that must have a very similiar plot (newbie question im sure)


  • admin

    @rockofellorburst Your plot is unique to your account, everyones nonce X is different.



  • @haitch I am plotting a 8TB how much will i really expect per month from the burstcoin.ro pool i get different figures from the online calculators. What if i plot 32 TB just multiply by 4?


  • admin

    @rockofellorburst 2.5 - 3 would be closer.