Hi Everybody, MS aka cryptogem here. Today I want to write an honest review on HoneyMiner - The home Crypto Mining desktop App. You would ask- why bother with a review at all. This is because there are very few unbiased reviews these days. I promise that you will get a truthful review and nothing else. So lets begin.
What is [HoneyMiner
[HoneyMiner is a desktop App that lets you mine Bitcoins from your computer. Now, when you hear that and you have some knowledge about Bitcoin mining, that immediately flags this app off as a scam. If you don't know, you will definitely ask why. That's because the difficulty level of Bitcoin's hashing algorithm has become so intense that it is not possible to mine bitcoins using CPU or even GPU enabled machines. ASIC Miners are required for this purpose. But then I dug in deep and found out that they actually mine Monero using your CPU/GPU computing power and then convert that into Bitcoin. Phew! So now we've established that its a very legit operation.
This app was actually founded by Stanford graduates who wanted to make crypto mining accessible for everyone who cannot afford expensive mining rigs.
How to use HoneyMiner?
This is where their dream of making crypto accessible for everyone materialised. The usage is very easy as it just requires simple downloading of the software. You simply download and then start the software. Its that simple and the app takes care of everything.
How much can you earn in a month?
For a normal GPU enabled laptop (I have a Nvidia 1050 Ti), you can roughly make 150,000 Satoshis in a month. So at the current price of $3500, we are talking about $5.25. But that's not what me as a long term holdler is aiming at. I aim to continue mining for atleast 3 years, which would earn me around 0.05 BTC (150,000 Satoshis * 36). I believe that BTC is on target for $100,000 by the end of 2021. For more details on how I arrived at this, please refer to my earlier blog post titled "How low will Bitcoin go"
https://steemit.com/cryptocurrency/@cryptogem/how-low-will-bitcoin-go
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I'm interested but I'm afraid of damaging my computer by downloading the software.
It is safe?
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