How to stay profitable with BURST mining?

Some basics:

1. you can mine solo or in a pool
The same result should come out over a long period of time. However, luck is also included, because if you are unlucky and never find a block you will never get paid. The pool has more miners and it is more likely that o2014-01-15-moneysavingtips1ne of them is lucky and finds a new block. The reward will be shared to the pool participants.
There is a small pool fee for operating the pool, which can be ignored.

2. Mining does not come free
You need a running computer, you need electricity for the computer and the hard disks and you need Internet. Each cost a certain amount. Burst mining has the advantage, that a standard computer (or just your desktop) can be used. The hard disks are cheap and the extension of a mining set is just adding new hard disks and USB-3.0 hubs.

How do we calculate the profitability?

burst-539x4001. What size of hard disk space did you offer for Burst mining?
Go to http://burstcoin.eu/calculator and key in your Total Plot Size in GB/TB or PB
The Mining Calulator will tell you what you can expect per day
That amount you put into the Price Calculator at the right and you will learn your daily income in Euro or US$.

2. A computer uses about 200 W (if you are just mining). During your working time the desktop is already used and you do not need to calculate the power consumption during this time for the computer.
A hard disk uses power rated by 7 W, whereby this would be if the hard disk is permanently used. Since during Burst mining you are only using the hard disk for reading and only for a short time, we can save calculate with 3 W per hard disk.

If you use your computer 10 hours for working anyway and keep it running 24 hours, then your power consumption for mining would be:
Computer: 24-10 = 14 hours
14h x 0.2kW = 2.8kWh
with 0.1 US$/kWh, this would give you a power bill of 0.28 US$
Harddisk: 24 hours
24h x 0.003kW = 0.072kWh
with 0.1 US$/kWh, this would give you a power bill of 0.0072 US$
hardly noticeable!!!

My HOME example:

I got 8 hard disks, each 3 or 4 TB, total about 27 TB hard disk space
At this writing, it brings about 2.82 US$/day. My computer is running 24 hours anyway, since it is also a server. The power bill for the hard disk is less than 0.06 US$/day, … so I can safe say, I make 2.75 US$ per day.

I use this earnings to increase the hard disk space and so earn next months more and more.
It takes about 5 days to plot a 4 TB hard disk, therefore my goal is to increase each week one or two 4 TB hard disks.

A side benefit:

The hard disks are only plotted (written) once.
If for any reason Burst mining becomes not profitable anymore, then I still can use the hard disks for storage.
I see therefore the investments in the hard disks as investments into the future.

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Ronald Wiplinger
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