Have you ever wondered what your life would be like if you got in really early mining Bitcoin, earning several thousands of BTC every day?
When you look at the most established coins like Ethereum and Bitcoin, you will notice that mining even one coin (or even a fraction of one) can literally take ages. Many within the mining community moved on to one of my personal favorites - Ravencoin, after the recent reduced profitabillity of Ethereum mining. No harm done, mining Ravencoin is fun and you can easily aquire some coin that way, but due to the new influx of miners, the difficulty has already gone up slightly, not to mention that there will be a having of the coin by the end of this year, literally cutting the coins mined in half.
While I will certainly hold on to my Ravencoin, I recently stumbled upon Hivecoin (HVN), a coin that uses the same source code: The KawPoW algorithm. For those of you who don't know, the algorithm is ASIC resistant and also enables an easy way to create unique assets. The project was started around March 2021 so you have plenty of time to start amassing huge amounts of Hivecoin at very low effort.
Since I know you are wondering:
- No, its not the digital network Hive (HIVE) or Hiveterminal (that uses the same abbreviation, HVN), its HIVECOIN (HVN) and nothing else.
Mining
Mining Hivecoin today is a blast. Its super fun to see how a single card in the NVIDIA 20-series will earn you at least a few hundred coins every hour. Not to mention the reward that comes with it. Your OC on your GPU should be similar to those that you use for Ravencoin, in other words - very low memory clock, higher core clock and low electricity settings.
Fairly Mined
Also similarly to Ravencoin, Hivecoin is fairly mined meaning nobody premined a bunch of coins to launch a pump-and-dump scheme as we've seen so many times before. A major difference between the coins is however that while Ravencoin is purely Proof-of-Work, Hivecoin uses a combination of Proof-of-Work (PoW) and Proof-of-Service (PoSe).
You can read more regarding this in the Hivecoin whitepaper.
Master Nodes
What this means is that Hivecoin uses Master nodes, users who have 1,000,000 HVN that supervise the network and ensure the blockchain is not compromised. The profits from the mining is divided as 45% go to the miner themselves, 45% go to the master nodes ensuring the integrety of the network and 10% go towards the developing community.
Asset Tokens
Creating asset tokens can later be issued to represent whatever you would like them to be: Shares in a stock company, gift cards for a business, your own crypto token etc. While this possibillity certainly already exists in Ravencoin smoothly today (and in Ethereum as well, although not as smoothly implemented) it would take burning 5000 RVN to create such an asset. If you would merely want to try out this feature, a "test" would be quite expensive considering the Ravencoin price at the moment.
Thats just one of the reasons Hivecoin is such a wonderful opportunity, especially for Ravencoin and Ethereum enthusiasts. You can try out and see if this feature is useful to you and not having to spend basically anything at all since the creators will give quite generous airdrops if you join their discord.
But even if you can't mine anything and just think this even sounds remotely interesting you should consider joining the discord as said earlier. The community is friendly and there are very generous airdrops being done at the moment.
Get in early while you still can!
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This is not affiliated with Hive in any way, right?
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Correct, its just a coincidence. They are considering changing the name or the tag (HVN) since both are being confused with other coins.
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Thank you for this. Here's a slightly related question: Do you know of any place to get some good info for a beginning wannabe GPU shitcoin miner? I've been meaning to get into mining for years, but haven't pulled the trigger. I need to do it now though. I just don't know where to start. It's all so confusing!
Hi optout! Im glad my post could inspire you in some way. Mining is super fun, unfortunately finding a new GPU today that isn't sold by a scalper is quite difficult. If I where you I would check out Whattomine.com to see what your options are and also to evaluate whenever you break even. As you may know ETH is driving the mining community largely today so many are wondering what will happen to mining when it goes to Proof-Of-Stake (although my bet is that it will continue for a very long time after that).
Also remember that the GPU manufacturers have started selling cards with LHR, which means their hashrate is not what it used to be unfortunately.
My advice to you would be to simply put a gpu in your regular chassi if you can get good air flow and not bother with HiveOS or similar untill if you decide to get a rig with several cards. If you're just going to mine casually I think Nvidia 2060 and 2070 are solid cards that usually dont sell for all to high prices.
Happy mining! Let me know if I can help more!
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Hello, @jonahkensington! This is @anggreklestari from @OCD team. We saw that you already posted your first post here in Hive! Congratulations and welcome! However, it would be awesome if you do an introduction post. As a sample of what an intro post is, you can refer to this intro post for reference:
Keeping Up With the Buzz - My Introduction to the Hive Community
There's no specific format on how you do your intro post, but there is some suggested content that we would love to see in your post. Information like who are you and where you're from, how did you discover Hive or who invited you, what types of content you want to see here and the types that you want to produce, and what are your expectations in this platform. There's no pressure on this. You can choose whatever information you would like to share.
You can tag me @anggreklestari on your intro post then if you have done with it.
Well, you can explore the communities that are suitable for your content. You can read some of the communities in this post: OCD Communities Incubation Program
If you are looking for tips and information as a Hive newbie, click here: newbie guide.
If you have questions, you can hop into OCD's Discord server and we'll gladly answer your questions. For now, @lovesniper will follow you and we are looking forward to your intro post!