Mining burst using Siacoin contract?



  • I am wondering. Is it possible to rent HDD space with contract from SiaCoin, to upload plot file for burst and to mine remotely with Blago's miner for example.

    So what will happend if i rent 100tb for example from Siacoin and mine remotely Burst?

    Is this will be profitable? Or maybe using Storj?



  • @preslav1980 I have never heard of anyone using siacoin or storj, but I think there are a couple of topics on this forum of people trying to use google drive and whatever amazon's cloud service is. I think that failed though because the accounts got banned for "unusual activity."





  • 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?



  • I'm not sure, but I think Siacoin and Storj are encrypting the files you are storing (what is logic because they are stored in a people computer, and nobody wants his files to be accessible by the file host), so maybe it would be difficult to mine from encrypted files...
    In my opinion, it will be more difficult to mine from files stored far away than to mine from files that are stored in your computer, but I'm not experienced with it, so it may be possible...



  • @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.