Why I'm mining Siacoin (SC)

in siacoin •  7 years ago 

Currently I'm mining Siacoin as it appears to be the most profitable given my computer specs (SLI 980 Ti, 32GB DDR3 i7-4790K). I think due to it's relatively low cost and difficulty, it could be very profitable in the future depending on well Siacoin itself does.

I'm currently pulling around 3000-35000 MH/s depending on the difficulty and my overclock which gets me around $11 USD worth of SC a day, and given that SC is currently 0.01-0.02 cents per unit, that's quite the number of coins to have mined.

Siacoin itself seems to be very young, so I don't imagine you would be able to mine a lot and sell them for a good profit in the short term, I think this will be one of those coins you mine as much as you can, and hodl for as long. Not to mention once they get their storage system fully working it'll be pretty viable to have a good supply of SC on hand

siacoin sc mining nvidia hash
7 years ago by

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      ·  7 years ago 

    I went in on a quick SC trade yesterday and gained an 8% profit. I pulled out too early :( but still got something.

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        ·  7 years ago 

      Yea yesterday I was intending on setting up a SIA storage node, which requires an initial sum of SC to stake so I ended up buying 3K worth. Turns out making money being a storage node isn't that profitable due to a low user base and most of the profit is mining.

      8% is pretty good, better than being in the negative. I still have the SC I bought to stake my node with, but im not sure what I'll do with those might just end up holding onto them and selling all the SC I make mining

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          ·  7 years ago 

        What equipment are you using to mine?

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            ·  7 years ago (edited)

          Just my regular gaming desktop, I thought about building a rig just to mine SC, but when I realized how profitable it is with my current hardware, I saw no need to build a rig just for this.

          EVGA 980 Ti ACX 2.0 (using two of them)
          i7-4790K (currently not using to mine)
          32GB DDR3 RAM

          Once the storage hosting component of SC gains transaction I have 60TB of raw storage on my NAS drive that could use with some filling :D

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