A Year In The Life (of a Burstcoin Miner)

It’s been a little over a year now of mining burstcoin, so let’s see how I’ve done.

Am I rich? Am I Lambo to the moon rich??

When I started, I invested $505 in hard drives. The calculator put me at 1159 days to turn a profit and I should have forged 11 blocks at this point, based on probabilities. The date that I pay off my investment was originally set at July 21, 2020, given a 10% appreciation per month.

The Outcome?

I have in fact forged 11 blocks! Good job me!

Unfortunately, that’s about where the good news ends. To date, I’ve mined a grand total of 6,520 Burst, which is currently equivalent to $29.81 USD. Using those numbers, and today’s value it will be Feb 12, 2023 before I see a return on my $505 investment, still using an optimistic 10% per month appreciation.

According to the Burstcoin Mining ROI Calculator, at this point, I should have mined about 8,794 Burst. In actuality, I’ve mined 6,520 Burst. There have been a few weeks where my miner has frozen and I didn’t notice, so I didn’t mine the full potential. That will most likely be the subject of a new post at some point. I’d like to start up a service built into the miner for up-time monitoring, so if you’d like to see something like that feel free to leave a comment below.

Some Statistics

Starting Network Difficulty: 350,000
Network Difficulty now: 220,000
Difference: – 37.14%

Starting block reward: 1046
Block reward now: 565
Difference: -45.98%

Starting Burst to USD: 1 Burst = .02266 USD
Burst to USD now: 1 Burst = .004568 USD
Difference: -79.84%

Conclusion

While I haven’t exactly made my money back, given the major depreciation of Burst value – this might be a great time to outright buy coins instead of mining them.

I still believe that the project has a ton of great potential, and the new team working on development seems to be on top of things, so I’ll keep riding the wave and see where it brings me in the future.

Keep reaching for the moon!

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