Hi everyone, first post using the Hive network so I though I would try out my most recent post on Publish0x!
Unless you have been living under a rock, I am sure you have noticed that crypto, as well as most other markets have taken a very hard fall. At the time of writing this, Bitcoin is down roughly 70% from its all time high with other smaller market-cap coins down 80-90%. This has caused many crypto investors from retail to institutional to descend into complete turmoil.
Miners were especially hit hard by the market crash because currently, in most cases, mining Bitcoin or Ethereum is no longer profitable based on the value of the coins compared to electricity costs. Due to this, the price of graphics cards and miners also have plummeted to below even their original retail prices. This has cause many miners to liquidate their current cards and mining rigs as soon as possible. Thankfully for me, I would only mine using two cards through NiceHash for very small profits so this did not affect me nearly as much as it did miners with large operations. However, given the fact mining for me was still no longer profitable, I began to look into other uses for my GPUs.
Enter: Banano! A lightning fast and feeless meme coin powered by DAG (directed acyclic graph) technology. If you are curious on what this means, I will include a very informative article on DAG technology at the end of this post to check out. Anyway, what if I told you that you can "mine" Banano in a sense while also helping progress medical research around the world? Well, you should believe it because you can do that that with Folding@home. "Folding" refers to running simulations of proteins, the molecular machines that perform most of the active processes associated with life, from muscle contraction to sensing light and digesting food. These simulations provide biological insight to inform drug discovery and other efforts to combat global health threats.
Although this is a great cause on its own, when you fold through https://bananominer.com/ , you will earn Banano rewards based on how many jobs you are able to complete in a time period. The more powerful your hardware, the more rewards you will earn. Payments get directly sent to your Banano wallet about twice a day.
I have been doing this for about a month now and I have been satisfied with the rewards I receive. Plus, I always feel good about what I am doing to help progress medical research. Although, still not profitable (it may be one day if you hold your BAN), it is a great way to earn a low market-cap coin with a great community and a ton of potential. Check out the reddit page (r/banano) if you need proof of this. All you need to get started is a Banano wallet and a pc.
Thanks for reading if you made it this far! Hopefully this is helpful to some people who may be looking for some alternatives to traditional mining during these crazy times. I will also include some helpful links below.
Feel free to leave a comment and tell me what you think and as always, have a good one.
All the best,
Crypto_Creech
Article I wrote on Banano: https://www.publish0x.com/crypto-creech/can-meme-coins-be-undervalued-the-banano-theory-xvyzoex
Everything you need to know about BAN: https://banano.how/
Best Banano web wallet: https://thebananostand.com/
Best Banano mobile wallet: Kallium app
Article on DAG tech.: https://cointelegraph.com/explained/what-is-a-directed-acyclic-graph-in-cryptocurrency-how-does-dag-work