Vaults will be profitable in the begin?

1

Hello, i want to know if it will be profitable to use my hdds as vaults, or maybe buy some of them, sorry for my bad english people.

2

NEVER apologise for bad English - you should post in your native language and if you feel really generous, you could add link to Google Translate.

It would make us lazy Anglophone-centric people realise how hard the rest of the world has to try to communicate with us.

14 Likes
3

Quite anglophone-centric to use long words that only native English speakers would easily understand! :stuck_out_tongue: other than that I’m in complete agreement!

And yes @leonmeitor the network is being designed so everyone can use their computer for profitable farming :slight_smile: more answers on farming are coming I’m sure :slight_smile:

5 Likes
4

thanks for the answer, do you think i have to buy a couple of hdds?

5

Welcome to the forums and thank you for posting :smiley:

Please ask me to clarify if you do not understand what I’ve said.

Be cautious. For example, if you buy 5,000 GB of hard-disk space, the bottlekneck (the limiting factor) will be your internet download/upload speeds.

The average internet speed is around 20 Mb/s download and 15 Mb/s upload (that is Megabits/second).

If you have 5,000 GB of space, it would take (5000 GB * 1000 MB/GB / 20 Mb/s * 8 bits/byte) = 2,000,000 seconds (23 days) to download that much data at a constant rate.

If you want to get involved, it wouldn’t be a bad choice to buy a 5 TB hard-disk. But know that if your internet is slow then you will not be able to fill it for several months.

To answer your question, SAFE farming will most likely be profitable eventually, which means you may operate at a loss (due to electricity and internet costs), but over-time (maybe 3-4 months?) your earned Safecoin will eventually be worth more than it cost you to generate, as the $/Safecoin goes up.

6 Likes
6

i have the pc all day switch on cause it is mining ethereum :stuck_out_tongue: , so the problem of electricity isnt new for me, thanks for the aclaration of the insternet speed, i have 50mbs so i think that isnt a problem neither.
What do you think about buy a 2TB HDD + my 500 gb free in my pc,? thank you for your explanation ^^

1 Like
7

I think the best option is to wait and see.

Initially it is expected that a few GB of space will be the average vault size. Maybe 1 or 2 GB in the first month or so. Then growing quickly over the next 6 months.

Basically you will have plenty of time to buy an extra drive once the network is live.

4 Likes
8

if you are right i will wait some months to but the hdd, for its lifetime and that…

9

And of course a 4TB drive will be cheaper in 4 months than now.

2 Likes
10

i thought that :grin:

11

Note that if bitcoin’s rise is anything to go by, if safenet works out, early stage farming will be quite profitable due to a quick rise in value ala stocks, especially if the team hires some more people and get safecoins out there in time to take advantage of bitcoin being terrible.

1 Like
12

While mining rewards could be profitable or not, it’s not a bad idea, since you’re mining ethereum anyways.

My own idea is to get a micro-atx (or mini-itx) board with a processor that pulls 35W or less (20W would probably do just fine) as computation won’t be too intensive for mining. Stick a couple hard drives in there and set it up as a RAID 5 or 6 for redundancy purposes. I want as much uptime as I can get so my vault levels up in reputation as high as it can go. Voila! Homemade NAS.

This would work great for me if I didn’t have a relatively poor internet. I have 40Mb/s - so close to yours, but that’s only downstream - for downloading. Uploading for me is at 5 Mb/s or less - I don’t really remember. Right now I’m transferring my data to my hosted server which has a 1Gb (up and down) connection - lightyears ahead of what I have at home - and I’m only getting 1 Mb/s max on this upload!

Keep in mind, I can have the biggest vault (discouraged) or 50 perfect-sized vaults, and that won’t mean anything if I can’t upload all of the files that are requested quickly.

13

its a good idea to build a microserver, but wich is a good processor? maybe an amd athlon 5150?

14

Take your time and read some of the threads here - such as Best farming hardware.

It isn’t like bitcoin mining, big/fast etc. So don’t go buying expensive hardware until you feel you’ve got a bit of understanding about farming strategy.

@Southside:

NEVER apologise for bad English

Unless you’re Scottish.

OMG I’m in soooo much trouble now :wink:

7 Likes
15

Hey, my ancestors are from Scotland, and that is a wee bit offensive. :smiling_imp::stuck_out_tongue_closed_eyes::scream:

1 Like
16

Forgot to add: Scottish or Aussie :stuck_out_tongue_winking_eye:

4 Likes
17

I think there won’t be that much profit the first weeks, since there will be so many wanting to rent out their HD, but, not that many people and businesses are aware about the possibility to buy storage on Safenet…

Then a few months later as people get aware due to the low price and exiting tech they start to take advantage of the cheap storage space. Then later dapps and unaffiliated webservices launch that allow people to use Safenet without even knowing it and it becomes profitable :wink:

2 Likes
18

I’m ready to upload all my critical data and wipe it locally, so if uploads are cheaper at launch, then that suits me. But I’m going to seek out a company with fat pipes to get it up there quickly…1MB ADSL uplink with a 150GB cap does not cut it.

1 Like
19

Yes, I will time my uploads to be done when the upload price is the cheapest.

1 Like
20

Indeed you are…

We have a Wee Black Book

“Forgive your enemies,but remember the bastards name”