Building a SOLID foundation first... Mining btc

in #mining7 years ago

First, no, this is not my mining farm but wouldn't that be nice if it was. I started mining btc back in September 17' and have grown my operation slowly but surely. I've used a few different pools to test their payouts and manageability. I am not here to push any mining pool or tell you to mine crypto, only presenting facts.

I started with 2 s9 antminers form Bitmain based in China. I also joined Antpool to start the mining venture. The two, together, started making about $30 a day in btc. Antpool pays daily every 24 hours. In September of 17', another batch came up for sale and i bought 6 more. By late November, the miners were making approximately .02 btc per day, kick ass!

My mining operation is set up in my garage to take advantage of the cold outside air in the winter time, I live in MI. The heat produced by the miners is heating my garage to around 60 degrees Fahrenheit. Best of both worlds at the moment, summertime will obviously be more cost because I'll need to cool the space.

I have tried three different pools now Antpool, BTC.com and Slushpool. Of the three, I prefer Slushpool. The payouts are similar to Antpool and BTC but the user interface is much better in my opinion. All three pay about the same per day based on an average of 105 TH/s. I plan on buying more miners to build a larger stream of passive income.

Which leads me to full nodes.... I have recently been introduced to something called full nodes. A full node is basically a computer or server that keeps an up to date copy of that particular coins blockchain. Running a full node is also called PoS or Proof of Staking. Similar to mining, in the sense that there is a reward system. Mining rewards are PoW or Proof of Work. Coins that offer PoS rewards are another way to store value and earn from that savings. Full nodes help to make transactions faster and less expensive. Let's take DASH for an example:
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On 1/1/2017 the price of DASH was around $11 USD and a full node would cost you around $11,000 USD to start. The required amount to stake was 1,000 DASH in order to earn rewards by PoS. The daily payout would have been minimal at this price in USD but you would be rewarded with DASH not USD. Fast forward to today, 1/24/2018...

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As of this writing, a DASH full node is worth more than $762,000 USD and pays a weekly reward of over $1,100 USD paid in DASH. I am not promoting DASH just using this as an example of how a full node works and pays. I do hold DASH, by the way, along with many other crypto currencies. In any case, this is another solid way to earn a steady passive income that is run and built by you. Huge potential in emerging coins that allow Pos. You can find emerging masternode coins here: https://masternodes.online/

I won't make recommendations on which I think will be the next big mover because I am not a financial adviser or an expert. There are a few that I do like though, and not that expensive to start.

Past knowledge is usually shared in words. Nothing is "get rich quick". The playing field is enormous in this space and there are many wrong turns you could make. Building a foundation on solid ground is the key to any successful venture. Learn to run and own the equipment and you'll never be dependent on some website that might just disappear one day. I didn't add @steemit to this but I feel this is solid ground to build on also. Not so much passive but nonetheless worth the effort.