Mining and Staking Trollcoin........

in trollcoin •  7 years ago 

Just for a laugh, I decided to fire up my old Gridseed mining ASIC to do a bit of Scrypt mining. After a little bit of research, i decided to mine Trollcoin (no other reason than it sounded like the most random coin, with the rather odd tagline - "One Coin to Troll Them All"). So far so good.....

Found a mining pool at troll.nation-wars.com, and signed up.

As I haven't used my Gridseed ASIC in a while, I had to download the drivers (Zadig) again, and install some mining software (oh the joys of replacing a dead laptop). Configuration was as easy as I remember from the last time I mined, and I am now connected up to the pool and hashing away with an estimated return of 4 Troll per day (not a great return on investment, but you never know, the pool may be really lucky and find the next 1500 Blocks....) and an efficiency of 98.24%

To add further intrigue, and just because I could, I also purchased just over 7500 Troll and dumped them into a desktop wallet to do some staking, and as it is a relatively small amount to stake (network weight is 21million+, so my stake is 0.03%), again, I am not expecting a major ROI for a while (if at all, although the expected time to reward is between 1 and 2 days)

Am I wasting my time? Quite possibly
Am I wasting my money? Again, Quite possibly

But, as the old saying goes..... "nothing ventured, nothing gained!"

If you want to help my efforts, please feel free to upvote and resteem, or even drop me some Trollcoin at Tj1eZmBc95x5bXKf7j2oeFEunF5aWuFw84

Failing that, you can just laugh at the stupidity of most things....

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OK, about 24 hours down the line, the results of day one are in -

Mining earnings - 1.5 Troll
Staking Earnings - 0 Troll

So far, not looking good as a way to earn, but I plan on keeping the mining going for at least a week to see how much can be earned with a Gridseed 3355.

Mining was proving far too slow and unprofitable of TROLLcoin with the Gridseed, so I have turned it off. Unless you have major mining power to throw at it, you are not going to get an awful lot of TROLL for your time/energy.
On a positive note, since starting Staking, the first staking reward has been received of 7 TROLL which is the standard reward forstaking, and has now been added to the balance for future staking.

Conclusion -

MINING - If you have money to burn, mining TROLLcoin is a slow process, and unless the price suddenly shoots up, you are going to be spending a lot more than you are making.
STAKING - If you leave your computer on 24/7, having the TROLLcoin wallet open and staking is not going to cost you anything, and you may (depending on your staking balance) get a healthy (or at elast relatively steady) return of TROLLcoin to your wallet.

Have fun, and look out for a post later today on the AntRouter-R1 LTC miner

As mining was a complete waste with the gridseed, there was a little more success with the Antrouter, but again, it was not really worth the hassle.

Staking, however, is slightly more interesting with TROLLcoin.
While the rewards for staking are quite low at 7 TROLL, holding a reasonable amount of TROLL can get you a fairly steady flow of income. The more TROLL you have, the bigger your return is going to be over a set period of time, and the more often you are likely to get a reward for staking.

To bring things into perspective, please check out the links below

The first one is my TROLL address, with approximately 40,000 troll in it for staking.
The second link is the TROLL address for one of the biggest holders that stakes.

https://chainz.cryptoid.info/troll/address.dws?97282.htm

https://chainz.cryptoid.info/troll/address.dws?64540.htm

The staking rewards are clearly marked by the word STAKE on a blue background.

The first thing you will see is that the first link has very few staking rewards at the time of posting (remember, this is my account). The second link clearly shows multiple staking rewards per day.

Now, not many people can afford to have several million TROLL sat idle in a wallet doing nothing much (like the staker in the second link), but the important thing to remember is that you do not need several million coins to get a staking reward, and if you leave your computer on 24/7 anyway, it is not going to cost you anything to stake (apart from the initial coins you are going to leave in the wallet).