From what I've read here in this thread it seams you have implemented kind of egalitarian mining in this coin where centralization is avoided and any miner has a better chance to participate in the mining or I am wrong?!
You are correct, the
currency supply has been optimised to distribute a smaller rewards more frequently. Anybody mining will receive a portion of the rewards on average which correlates to the percentage of network hashing power they contribute on average.
If the network is running at 6GH/s, and an individual miner is providing 60MH/s, then that miner will find on average 1% of the blocks, roughly 7.2 blocks per day or 144 BTM per day. If mining consistently as a service then solo mining or pool mining equate to the same percentage of rewards, one has fees associated the other does not.
Here is
a little mining calculator that can be used to calculate how much BTM can be earned per day for any given network hashrate and individual miner hashrate.
Your coin seems to be different in that matter but don't forget that without services accepting the coin the coin may not also survive long time.
Exactly! before considering mining or purchasing any currency I would encourage you to find out more it, in the case of Bitmark you'd be best to familiarise yourself with the
general summary before moving on to the mainstay of the project,
marking - illustrated graphically in a post slightly further up the page.
Project Bitmark is primarily focussed on adoption, with the Bitmark bit being a stable foundation on which we will build useful things.
Out of curiosity can you tell me what would be the minimum hardware requirements to start solo mining as a service this coin and to support this coin long term?
There is no technical minimum, however from a business perspective if mining as a service, then the most efficient hardware will always be the most profitable.
Of primary concern to anybody solo mining is electricity costs per kWh (per 1000w an hour), and the efficiency of the hardware - wattage per mh.
For example, a Thunder X6 will produce 18-20MH/s, we'll say 19MH/s average, with a power consumption of 450w.
Assuming your electricity is $0.10 per kWh, then to run one device will cost $0.045 per hour, $1.08 per day.
Assuming the network is 6GH/s, then one device will find 1/300 of the rewards, ~48 BTM per day, about $4-$5 worth at current value.
Then you need to consider the cost of the miner+P&P, perhaps $450. This is where the primary business decision is made, you can reasonably assume that if you've chosen a currency on the rise, that it's network hash speed will rise over time compared to your fixed hashrate, and therefore your rewards will drop, conversely that price-tag will rise also. The decision then is whether to hold what you mine choosing the optimal time to sell and recover some investment, or whether to sell immediately to be sure of a known quick return.
It is my own personal contention that selecting the currency to mine is the biggest decision to make, only mine something you are otherwise happy to hold and acquire, informed decisions such as this tend to work out best when investing in any capacity.
Others will be able to offer better advise. Research both mining and currencies heavily before making any decisions.
