SoftMiner – Razer’s Cryptocurrency Mining Solution For Gamers
Leading manufacturer of gaming hardware, Razer, has introduced a software that uses the computing power of idle gaming rigs to mine cryptocurrencies. Interestingly, the gamers do not keep the digital currencies mined using their hardware.
The SoftMiner software uses the high-end GPUs inbuilt in gaming systems to mine cryptocurrencies whenever the rig is idle. The owners of the computers get Razer Silver as compensation for the use of their resources.
The announcement regarding SoftMiner was made through the official Twitter of Razer. Precisely, the gaming hardware maker encouraged gamers to install this software because it guarantees continuous passive income.
After a successful installation, the SoftMiner program automatically initiates the mining process every time that the computer is idle. The amount of Razer Silver disbursed to the GPU’s owner is dependent on the amount of digital currency mined. So far, Razer is yet to disclose the virtual currency that SoftMiner will mine.
At first, the deal offered by Razer seems good, because gamers can use the Razer Silver to buy gaming accessories, games and discount coupons. However, users can still use the same machines to mine other cryptocurrencies such as Bitcoin which are far much valuable.
According to Razer, an optimized GPU can generate 500 Razer Silver credits per day. Given that Razer values 21,500 credits at $5, a user can generate rewards worth a paltry $1.67 on a good day.
Users on Twitter were quick to express their opinion on this program. As expected, the majority were critical of the appallingly low rewards. Indeed, one of them labeled it as the worst trading deal in history.
SoftMiner is not the first software that leverages the computing power of idle gaming hardware to mine virtual currencies. Other similar programs are run by Quantumcloud and Asus. Those two, however, allow users to cash of their cryptocurrency earnings to their PayPal and WeChat accounts, albeit at a small fee.
While it is far from ideal, the prevalence of software such as SoftMiner is an indicator that more people are mining cryptos to generate extra income. More specifically, they could spur an influx of gamers onto the cryptocurrency mining business.