I am interested in mining videocoin, but I am somewhat confused by a few things, I hope someone can answer these questions for me.
- When I read about videocoin in some places it is mentioned that there are different workers - transcoding, storage and some others. Then in other places I only read about transcoding. So, which is it?
1a. Does the worker need to have storage space? If so, how much?
1b. Does one worker have to do everything or is it possible to have a storage-only worker, a transcoding-only worker etc?
- Is there an uptime or some other reliability requirement for the worker? If my worker goes offline for a while, do I only lose the income for the time my worker was offline, or are there some lasting consequences (reputation loss etc)?
Hello. Thanks for your interest in VideoCoin.
There is NOT different workers. A worker handles transcoding for the network.
1a. A worker does not need storage space.
1b. A worker will allocate how much computing power it will use to transcode video for the Network. You can choose the number of cores you’d like to dedicate.
- Your worker will need to be online to transcode video when jobs need to be processed. Downtime will not affect reputation. Workers get jobs based on price, a number of tokens staked, and performance.
VideoCoin network enabled only transcoding workers at present. The worker does not need to have storage. There is no loss of reputation or slashing for worker going offline.
Thanks for the replies. Just to confirm - the minimum amount of tokens staked per worker is 50k - or about $3600, correct?
Yes, the worker’s minimum self-stake is 50k VID.
When you use WorkerHub, it reserves another 5VID which is used for transaction cost/gas fee on VideoCoin network.
Thank you for your replies.
How many coins is a worker expected to make per month? Let’s say it can transcode one stream (Raspberry Pi or similar).
Also, is there a way to benchmark a system without setting up the worker and staking coins? It would be useful to find out if it’s worth it before getting $3600 worth of coins for the staking.
The VideoCoin network currently makes cash payments to workers through Public Mint Network.
You may want to look at forum posts such as “tokenomics” for community discussion on this topic. For benchmarking without running a worker, you may take look at the VideoCoin explorer (transaction volume and worker stats) and see if it helps
Thanks, I’ll look into it. With other crypto, like Ethereum it’s possible to calculate the expected profit without buying the equipment or by testing equipment that I already have.
Since VideoCoin requires a lot of money up front, it’s risky to pay that money and then find out that with my equipment I can only get $0.1/month. And the money is per-device, so, I presume the idea is to have one very powerful server than multiple weaker ones.