My Koinos mining journey stops here

in LeoFinancelast month

I reinstated mining after a 2 days gap. Yesterday I wrote an article on the same. I have been mining Koinos with my CPU starting from yesterday. So far I have received a total of 20 Koinos from several hours of mining in the last 2 days. This made me reach 401 Koinos in total from mining.


Today morning when I woke up, I saw the above announcement message in the Mancave discord server saying that someone had created a GPU miner for this. If I remember it correctly, in the announcement post the project team mentioned that the miners have protection against GPU which makes the mining possible only through CPU. Already people mining Koinos is growing day by day. People are using their CPU farms to mine the tokens already.


The team had mentioned that they are going to come up with a GPU miner. I have decided that I will not be mining this anymore. If in the future the project becomes really promising, I will take the opportunity to purchase some tokens from the market. But I'm really glad that I was part of the initial mining group and was able to mine about 400 Koins with my CPU. I might have spent around 35$ in total for this. I hope my 400 coins reach a value above 50 USD (including the electricity expense as well) so that it can turn out to be profitable for me.

Even if the team comes up with a GPU miner, I wouldn't be willing the participate even though I have a decent GPU in my system. So my Koinos mining journey ends here.

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People are fast to exploit various options when it comes to earning! I stopped mining too! Hopefully, it will be worth to hodl! If not - it was a great experience and a lesson.

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Same thoughts here as well. I guess there was too much expectation on this. I'm also planning to hodl the koins that I have mined so far and if the value becomes shit, it will be a good experience and a lesson.

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I stopped mining on day 1, didn't see the point In trying to compete with my computer and my time could be used somewhere else to get better yields, I make more just curating on LEO

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Yes absolutely true. Some people also mentioned that they can purchase it from UNISWAP for a cheaper price even if someone wanted to invest. 🙂

Stopped mining a couple of days before when it was unprofitable... and I'm happy that I did... As I have some ETH mining rigs, maybe I will jump back if there will be an option to mine cheap...

Yeah, good decision. 🙂

I am exactly with you, except I’ve been mining for days and only have quarter the balance. 😡

All my transactions for the last two days have failed on fees, so I was pretty much done already, but this is the nail.

I put in about $18 and figure there’s no way I’m ever going to recover the balance remaining in that wallet, so it is what it is.

Can’t say I’m not a little salty about it.


Maybe you can try to compensate it by doing some trading. I guess that should be the only way. Or just take it as a lesson and walk away. 🙂

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It's all a bit of a fuck up on the part of the Koinos team isn't it!

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Yes true. I now understand what took them so long to bring good developments in top of Steem in the last 5 years. 😀

I'm just running out my eth balance then thats it.
I'm at a loss as to why they would use ethereum and not a cheaper option to claim. The cost of claiming the tokens is more expensive than the actual tokens themselves.
I'll probably just hold what i've earned and leave it at that

Yeah same thoughts here. It is so stupid to use ETH to submit the proofs. Unnecessary expenses for the miners. They basically wanted to attract ETH users, but I'm not sure how many turned up. I see only familiar faces from Hive.

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