In the cryptocurrency world, everybody knows about mining bitcoin. In the ”old days”, people could setup mining on a regular home computer with a powerful graphics card installed and actually make a dime from time to time. But as Bitcoin is getting harder and harder to mine, people let the big players mine bitcoin and look to other coins to try to make a profit.
Normally you mine with your computer and get coins as a reward. That’s how transactions are confirmed. That’s called Proof of Work (PoW) and is referred to as mining.
But there is also a System called Proof of Stake (PoS), where transaction confirmations are not done with hardware, but with already owned coins. An amount of your coins are ”on the stake”, while they are used for staking. That depends a little on the implementation, but basically you get a certain percentage of your coins as a reward.
Some people think, they can ”earn” coins this way, but that’s nonsense, because if the market cap stays stable, the single coins are worth less, if new coins are generated. So you just “keep” your value, if you are staking. And you ”lose”, if you are not. It’s like in a bank if you get 2% interest and the inflation is 2% as well. You only “earn”, if there are transaction fees and if those are also paid to the staker.
Ready to invest in an altcoin masternode? Picking the right coin can be a bit of a headache, but a new line of masternode comparison websites are popping up, showing a lot of financial stats on a wide range of coins.
The 3 websites listed here are more or less covering the same coins, but as some of the sites are “pay-to-list”, some coins are missing out.
We’ll be looking at 3 masternode monitoring websites:
Basic financial info for the masternodes. Free alert service (beta) for monitoring your own masternodes.
So… Which monitor to choose? Well, I can’t pick one over the other, as they all have unique coins listed and unique services offered. Also, you should NEVER rely on a single source of information in the world of crypto. Keep these sites in mind when planning your next masternode investment, and you’ll be off on a good start.
A fun way to get coin “dust” is by interacting with fun services like bitrad.io (where you get paid for listening to music) or this web game called Digital Trip.
Digital Trip is a 3D flying experience in space where you have to collect coins while avoiding rocks tumbling your way. The longer you keep playing, the more coins you collect. You can also collect power-ups like the HTML5 logo, which will act as a shield against the ever on-coming flying rocks.
Once you run out of energy, you can see your total amount collected. Enter our Digital Price [DP] address in order to have your coins sent over. (You need to download the Digital Price wallet from www.digitalprice.org)
Earning BRO is easier than you think. With more than 80,000 users, bitrad.io is the main source of free BRO coins. You simply sign up for the free radio service offeredm start listening to musinc and you’re done. When ever you listen to music via bitrad.io, you get paid. BRO coins are currently traded at Cryptopia with hopes on hitting Bittrex in the near future.
Put your receive address on your bitrad.io profile
Listen to radio and earn BRO 🙂
If you accumulate a lot of BRO coins, you should stake your coins. Chances are you’re already doing it as the BRO wallet is set to stake your coins automatically. When staking, you can be rewarded – the reward is currently 0.5 BRO and by hovering over the small lightning bolt in the lower right corner of your wallet, you can get an idea of how long you have to wait (on average) to be rewarded.
This short guide will get you up and running mining BiblePay (BBP) on your computer – either on your own or using a mining pool.
First you need to download the wallet. Get it at www.biblepay.org. Download the wallet that fits your system. We’ll be using the Windows 64bit version for this guide.
Let the download finish and install the wallet. When you run a wallet for the first time, the entire blockchain is downloaded to your computer. This can take a while – just be patient and wait.
Meanwhile, register at one of the mining pools for mining your coins. This is HIGHLY RECOMMENDED. If you’re mining using an average PC, you could go for many weeks before seeing any mining rewards. Using a pool, you’ll get a smaller amount, but more often as you mine with other users. Currently you have two to choose from:
0-6% fee, 24 hours maturity
2%-fee, 24 hours maturity
Now we need to modify a file called biblepay.conf and tell your wallet to start mining. If you’re on Windows press the Windows key + R to bring up a Run… box. Type %AppData%\BiblepayCore and press enter. Locate the biblepay.conf file and open it in your editor. Add the following to your file:
The first two lines add a few nodes from the BiblePay network. Next we have gen=1, telling the wallet to mine. Genproclimit=1 is the limit on processes the wallet can use for mining. Check your CPU usage and try raising the limit. Poolport=80 simply tells the wallet to submit results via post 80 on youer compurter.
Remember to change the last two lines to fit your mining pool and worker information. The address for the official mining pool is http://pool.biblepay.org/ – and remember to put in your own username.
BiblePay is a secure deflationary blockchain developed to benefit those in distress. 10% of the emission of the blockchain goes directly to sponsoring Orphans, with provable contributions, contributed to an organization that is more than 75% efficient.
The altcoin BiblePay is not a PoS (Proof-of-Stake) coin. It’s not a PoW (Proof-of-Work) coin. But what is it? It’s PoB (Proof-of-Biblehash).
This snipplet from the project website www.biblepay.org describes what Proof-of-Biblehash is:
Proof of Work has been replaced with Proof Of Biblehash (POB) – an algorithm that compensates full nodes participation, while preventing GPUs and ASIC by requiring full blockchain transaction referencing in the hashing function, along with chained bible verses. This means biblepay subsidizes full nodes that stay online.
Also worth mentioning is the fact that premine, dev fund, airdrop etc. on BiblePay (BBP) is 0%!
NO PREMINE – the lead dev starts with zero, the orphan foundation fund starts with zero, the distribution is entirely fair. NO ICO. The distribution curve is evenly declining with no hidden bumps early.
There you have it. Start mining today, on your desktop computer. It’s easy to get up and running. Follow on and check out this post to learn how to start mining BiblePay (BBP).
BiblePay is currently (Nov 2nd 2017) traded at C-CEX in the following pairs:
MasterNodes.online is a masternode comparison platform currently monitoring 39 different coins. The site is a great tool for planning masternode investments, as you get a clear overview of how the coins are performing.
The overview page gives you quick info on all the coins, such as coin price, masternode requirements (also known as collateral), annual ROI, masternode valuation etc. For each coin there’s additional advanced info such as income calculations, block monitoring, lock down status and historical data presented as nice looking simple graphs.
If you’re into masternode investments, you should drop by MasterNodes.online and take a look. The site opened in June 2017 and the devs are happy to get recommendations on how to make the service even better.