Hello all! Recently I started solo mining BEAM using my humble NVIDIA RTX 5070 with the sole intention of supporting the network. I have been hashing away and the results have actually been quite pleasing.
For those who don't know:
"Beam is a deflationary coin with capped emission and periodic halving every four years (similar to bitcoin). Beam uses a Proof-of-Work consensus algorithm called BeamHash III (created by Wilke Trei, a.k.a., Lolliedieb, pdf) with emission starting from zero (e.g., no pre-mine or ICO) and is currently mined on GPUs"
-beam.mw/docs
BEAM is built on the Mimblewimble protocol and as such:
"All Beam transactions are private by default, which means no one can see the Sender or Receiver of the transaction or the transaction's value (except, of course, for the participants of the transaction itself). No addresses or other identity-related information is ever recorded on the blockchain, which means the user's transaction history always remains private. This level of privacy places Beam in a class of its own."
-beam.mw/docs
As someone who values my privacy quite a bit, this is great news. I love that it allows me complete anonymity. While privacy coins often receive a bad reputation because of the bad actors they are often associated with, I see it as common sense for the individual. You don't exactly go around showing everyone your bank account with your fiat currency, so why would you do so with your virtual currency? Despite this, I'll make a quick exception for this post, just for you guys ;)
As you can see, my balance is about 125.154 BEAM (~$2.53). I have mined 5 blocks since I started this mining adventure, which, as a solo miner, is super exciting!! I actually mined a sixth block while writing this post! Bring my total to 150.232 BEAM (~$3.04). While earning more steadily from a pool is nice, I get such a rush and feeling of accomplishment from mining blocks solo.
I hope to keep this up for a long time to come. Until next time, lets keep hashing our way into the future of finance and P2P spending!
Bye Bye~~~
**This does not in any way shape or form constitute financial advice. Do your own research before making any financial decisions.
