Author Topic: cryptocurrency mining: giving back to the community  (Read 702 times)

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Offline NiHaoMikeTopic starter

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cryptocurrency mining: giving back to the community
« on: November 10, 2018, 04:50:37 am »
About a year ago, I built a solar powered cryptocurrency mining machine and got a bit of fame when I used it to help a content creator. Although that setup is pretty diverse and mines many different coins, at the time one coin - Swagbucks - accounted for most of its profit at nearly $150 that month while using only about 8W for the Android tablet and Raspberry Pi. Thus I could spare a little profit in order to not be seen as selfish. What made that possible was a bit of code running on the Pi to manage the mining software. That sort of script is normally kept a carefully guarded secret in the community since if it goes into widespread use, mining difficulty would skyrocket.

But the difficulty has increased ~5x compared to last year plus the halving near the beginning of the year so now the mining profit is more like $15/month. (The other coins also increased in difficulty.) Thus, there's less profit to go around, but also I have much less to lose.

As I previously mentioned, I cannot just openly share the code since all that would accomplish is skyrocket the difficulty, and ultimately kill the only thing I like about Swagbucks - the high mining efficiency. But now I have an idea - what if I share the code with a content creator who then shares it with his/her supporters? (I'm operating under the assumption that the content creators are too busy to bother setting up a mining setup themselves.) The supporters would then see more value in supporting the content creator and a significant percentage would donate more. I can easily see that being more of a benefit to the content creator than if I gave them all of my mining profit while I would only lose a little - maybe not even noticeable if I pick a niche content creator like Fran Blanche.

The main barrier to this idea is that the code is basically just thrown together and intended to only work on my setup. (I never intended it for use by anyone else!) It will definitely need modification to work on another setup. The time to set up the tablet/phone, Pi, and pool/exchange account is significant (easily an hour or two for someone experienced, more for a beginner) so I would prefer that to be done by the supporters who enjoy tinkering with that stuff.

Would it be reasonable to expect the supporters to keep the code a secret among themselves? I will place a note explaining why the code shouldn't be overshared, since beginners to the cryptocurrency scene would not understand. I would certainly expect the supporters to be way less selfish than average if they're supporters in the first place.
Cryptocurrency has taught me to love math and at the same time be baffled by it.

Cryptocurrency lesson 0: Altcoins and Bitcoin are not the same thing.
 


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