Storj Farming Update

smysullivan (62) in beyondbitcoin • 8 years ago

First Month Farming

Well, November Storj was still in their beta testing and paying out farmers from their own funds. I set up my drive and started to share 10 GB. Well, I did not know they are currently paying out once a month since they are working on the micro-payments. So I have really been waiting to make this post. So far the Storj team does not yet recommend buying new equipment for setting up the shared drive space as they are not yet sure on the profitability of sharing the drive space yet.

First Lesson Learned

If you are going to set up a drive and share it, they recommend not using an address from an exchange. That was my first mistake I used the address from Poloniex and after the payment was made it took several hours before the deposit was received. I have moved the coins made to another wallet, and must wait one final month for the December payment which is going to be split between the two addresses I have used.

Upgrading Storage Space

Not going with their recommendation I decided to buy a 2 TB hard drive any way, it was cheap on New Egg. I took the system apart to add the new hard drive. I know it might not be to profitable but I have an old GPU in the system mining Monero, I am using this as a stepping stone to get an actual mining rig like @craig-grant has.

So with the system down, and using the SATA hard drives I figured this would be a simple plug and play task. I did just that plugged the drive in turned on the computer, no new hard drive, I could hear it spinning, so I knew it was working. I did all the basics I exchanged the SATA cables to see if the new one I had bought was the problem, still nothing. Well, finally it was recommended to check the bios to make sure it was recognized there. So I moved the computer over to my monitor and turned on the computer again this time going into the bios. When I got down to the hard drive selection, SATA 0 was turn on, SATA 1 was turned off. After having turning on SATA 1 I restarted and finally the drive was working.

Upgrade Complete

Next step was simple I just started the Storj Share and had to add a new drive which was obvious the drive I had just installed for this purpose. After a few hours had passed I checked to see if it was working, and I found I had already was starting to use a small portion of my drive space. So the drive is working and now just to wait another month to see how it preforms. So now my system is sharing 10 GB on one drive and 2 TB on the second drive.

Conclusion

Thank you for reading, if you liked this please Upvote, Follow, and Resteem this post.

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Thanks to SteemVerify.com and @elyaque

Follow @smysullivan
Thanks to @papa-pepper for the last gif.

beyondbitcoin storj crypto update

8 years ago by smysullivan (62)

$13.97

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peacekeeper (58) · 7 years ago

Hello smysullivan... I did a search and found this post. Are you still doing this and have you been getting coins for it. I was just curious about the whole thing. Thanks for any response you can give..... PK

$0.05

1 vote

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smysullivan (62) · 7 years ago

I had been farmning all the way up to May when I had to move into an RV! Yes they have been paying April payment was delayed due to congestion on the Bitcoin network. Soon they are changing over to a token based on Etherium, not sure when that will be. I'm not going to be able to farm for a bit but I will be back up in a month or so!

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1 vote

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tradz (58) · 8 years ago

https://steemit.com/money/@tradz/hdd-mining-my-bizness-new-breed-0f-cryp0pt-2

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1 vote

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mpetkowicz (25) · 8 years ago (edited)

I had received first payout from Storj :) That's works!

But the price of SJCX is still going down :/
IPFS Poloniex

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2 votes

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smysullivan (62) · 8 years ago

Thanks for the chart, so far I'm looking work up to the 1k SJCX to get the priority traffic.

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tradz (58) · 8 years ago (edited)

https://steemit.com/storj/@tradz/mining-my-business-pt-3cloud-storj-mining

https://steemit.com/crypto/@tradz/hdd-mining-my-business-new-breed-0f-crypt0pt-1

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1 vote

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tradz (58) · 8 years ago

May want to checkout "BurstC0in" as well - https://steemit.com/storj/@tradz/mining-my-business-pt-3cloud-storj-mining
Nice post, restemmed ;)

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1 vote

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smysullivan (62) · 8 years ago

Thank you! Will check it out. I'm running windows and atm it will not let me load the burst wallet since IE will not update.

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tradz (58) · 8 years ago

Interesting! I haven't yet got started. I am still mining via Nicehash and will stop it for an hour 0r two maybe this weekend to perform my 'plots' ;)
We can use this for exchanging for STEEM while Steem is low and for long-term(Storj/BurstC0in) holding. STEEM will be more profitable to buy/sell as it moves and it's value is@a higher price.

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1 vote

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smysullivan (62) · 8 years ago

That is true, My system is getting like .4 XMR every couple weeks, and Farming the Storj, I made just under $5 and now they are not in Beta so not sure which way it will go, but either way I know it will help in at least covering the electric costs for running 24/7 mining rig.

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1 vote

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the-reginald (59) · 8 years ago

So you still aren't sure about the potential profit yet?

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1 vote

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smysullivan (62) · 8 years ago

Well, I did make just under $5 for the 10GB shared in November. Beginning December they stopped the Beta testing and went live, so far they do not have to much data that is not already downloaded so what are my profits going to be from December will start getting a better idea on if this is going to be profitable or just breaking even. So far my 2 TB drive has been up for a couple days and I'm not yet to 1% used, but it has been slowly filling over time. A couple things they consider on payments is how long you stored the data, and how often the uses tries to access it which will adjust the amount you make drastically and can change based on use. I will post an update from Decembers payout when I get it. I think for December Storj might still be paying the farmers, but I think I heard they are slowly changing it over to the users to pay the farmers, so as that changes we will see if it can stay profitable. For me I think it is since the original 10GB was extra space in a computer already mining XMR. Now I simply have more space to share. Not to mention they have said they are making large steps in getting the micro payments to work, so soon we will get paid throughout the month instead of simply once a month.

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2 votes

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the-reginald (59) · 8 years ago

$5 for 10 gigs sounds like a ton of profit

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1 vote

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smysullivan (62) · 8 years ago

Yeah but in chat that was the basic payout and everyone got it, some people shared more than I did and did not make much more than I did. Now it is out of Beta so lets see what happens to the rates.