asic - Is it worthy to use "bitcoin usb block erupter ...
asic - Is it worthy to use "bitcoin usb block erupter ...
Virtual Currency Miners for sale eBay
Bitcoin Mining Hardware - FREDYEN.COM
5 Best Bitcoin Mining Hardware ASIC Machines (2020 Rigs)
Alloscomp : Bitcoin Mining Calculator
So, I have 6 USB ASIC Miners, they run on average anywhere from 2.1 to 3.1 Gh. I have been mining on EclipseMC for about 2 weeks and only have gotten 0.0105..... BTC. As of right now they appear to be generating next to nothing. Is that enough Gh? Is there a better pool to mine in? Should I just sell these right now and only take a small loss? When I bought them, I used a bitcoin calculator, and it seemed to think I would make my money back in 3.5 months.. but I dont think I can even do that now with the difficulty going up?
TL:DR: Don't bother mining if you want to get rich yo. You're way too late to the party. Welcome to the exciting and often stressful world of bitcoin! You are wondering what looks like a once in a lifetime opportunity to get rich quick. Of course you guys probably heard about this "mining" process but what is this? Simply put, a bitcoin mining machine that performs complicated calculations and when deemed correct by the network, receives a block which contains 25 bitcoins (XBT). This is how bitcoins are generated. So your brain instantly thinks, "Holy shit, how can I get on this gold rush?" Before you proceed further, I would like to explain the concept of mining further. Bitcoin is limited 21m in circulation. It is coded to release a certain number of blocks at a certain time frame, ie: this year the network will release close to 500,000 bitcoins. What this means is that the more people (or specifically the amount of mining power) mine, the less each person gets. The network tries to keep to this time frame through the process of difficulty adjustments which makes the calculations harder and this happens every 2 weeks. So every 2 weeks, you get less bitcoins with the same hash rate (mining power) based on what the difficulty changes are. Recently, the changes have been pretty staggering, jumping 226% in 2 months. You can see the difficulty changes here. Now, why are these changes so large? A bit of a simple history. Bitcoin's algorithm runs on SHA-256. This algorithm can be solved using many hardware, from CPU to GPU and dedicated hardware (Application Specific Integrated Circuits). When bitcoin first started, mining on CPU was a trivial process, you can pretty much earn 50 XBT (the block size then) every few hours between Q1 and Q2 of 2010. In late 2010, due to the difficulty increase that is reducing the effectiveness of CPU mining, people started to harness GPU mining. Only AMD GPU's architecture design are better optimized for bitcoin mining so this is what the community used. Immediate improvements of more than 10x was not uncommon. In time of course, GPUs reached their limit and people started to build dedicated. In the same vein as the CPU to GPU transition, similar performance increase was common. These ASICs can only perform SHA-256 calculation so they can be highly optimized. Their performance mainly depends on the die size of the chips exactly like CPU chips. In general, think of bitcoin mining's technological advancement no different to mining gold. Gold panning (CPUs) vs pickaxes (GPUs) vs machinery (ASICs) and we are still in the ASIC mining race. ASIC mining started with ASICMiner and Avalon being first to the market, both producing 130nm and 110nm chips. The technology are antiquated in comparison to CPUs and GPUs which are now 22nm with 14nm slated for Q1 next year by Intel but they are cheap to manufacture and with performance gains similar to the CPU to GPU transition, they were highly successful and popular for early adopters. At that point in time since there were less competing manufacturers and the low batch runs of their products, miners became really rich due to the slow increase in difficulty. The good days came to an end mid August with an unprecedented 35% increase in difficulty. This is due to existing manufacturers selling more hardware and many other players coming onto the market with better hardware (smaller die). Since die shrinking knowledge and manufacturing process are well known along with a large technological gap (110nm vs 22nm), you get an arms race. Current ASIC makers are closing in on our technological limit and until everyone catches up, the difficulty jumps will be high because it is just too easy to get a performance increase. Most newer products run at 28nm and most chips are not well optimized, so it will be around another 6 to 9 months before we see hit a hard plateau with 22nm or 14nm chips. The estimated time frame is because manufacturing chips at 22nm or 14nm is a more difficult and expensive task. In the meantime most manufacturers will probably settle at 28nm and we will reach a soft plateau in about 3 months. Now, you might ask these questions and should have them answered and if you have not thought about them at all, then you probably should not touch bitcoin until you understand cause you are highly unprepared and probably lose lots of money.
I read that you can mine with a CPU/GPU, should I do so?
No. If you have to ask, please do not touch bitcoin yet. You will spend more on electricity cost than mining any substantial bitcoin. Seriously. At all. A 7990 would produce a pitiful 0.02879 XBT (USD $14 @ $500/XBT exchange rate) for the next 30 days starting 23 Nov 2013 at 35% difficulty increase. And if you think you can mine on your laptop either on a CPU or GPU, you are probably going to melt it before you even get 0.01 XBT.
I get free electricity and I have existing hardware, should I still mine?
Probably not because you probably forgot that GPUs and CPUs produce a ton of heat and noise. You can try but I see no point earning < $20 bucks per month.
Should I buy an ASIC machine?
No, because your machine will probably not mine as much as buying bitcoins. This situation is called the opportunity cost. While you can still make money if XBT rise in value, it is a fallacy.
IE: if you start mining on 1 Dec 2013, a KnC Jupiter running at 450Gh/sec (KnC lies as not all chips run at 550Gh/sec) will yield you a total revenue of 9.5189 XBT with a profit of 0.7859 XBT in profit by 30th Jan 2014 at a constant difficulty increase of 35%. The opportunity cost is: 8.5910 XBT @ USD $580/XBT with USD $5,000 which is the cost of a KnC Jupiter. This is the best you can earn and it's a bloody optimistic assumption because:
You are assuming your pre-order will arrive on time. (I do not think any first batch pre-order from any manufacturer has arrived on time).
All pre-orders are sold out for 1 Dec.
You are assuming your chips will run at 450Gh/sec minimum but many miners here will tell you their chips have been under performing.
Electricity cost have not been taken into account.
Shipping cost and time has not been taking into account.
Import Tax or VAT has not been taken into account.
Risk of downtime due to DOA or warranties has not been taken into account.
You are assuming the difficulty increase will be a constant 35% which is very unlikely because Cointerra with a team that has worked on some of the world’s highest performance CPUs, GPUs and chipsets for NVIDIA, Intel, Samsung, Qualcomm and Nortel has pre-sold an absurd amount of hash rate. Difficulty increase of 45% or more (which we have seen when a small player, KnC shipped their 1st batch) will be repeated commonly. This is only 1 company, imagine what the rest will come out with. I have failed repeatedly and so have many in estimating future hashrate. You wont be able to do better.
Even if you earn some profit, it will be < 15% and will probably be not worth your risk or your trouble. I can buy and hold XBT with no risk of losing them.
The only circumstances where you will earn money is when XBT exchange rates is so high that it makes the opportunity cost pales in comparison. Unfortunately this is not the case. If XBT stabilized at 900/XBT today (20 Nov 2013) then we might have a good case. The risk is just generally not worth it. Unless you have at least a hundred thousand and can make a contract with a manufacturer for a lower cost, do not bother. Just wait until the arms race is over then you can start mining.
I understand I probably won't earn any money, I just want to do this for fun/hobby...
Okay, go buy an AsicMiner USB Block Erupter. They are cheap and pretty fun to have.
I want something with more omph and still do not mind losing money
Sure, just read the answer below on who NOT to go for. You are doing bitcoin a service by securing the network and you have our (the users') gratitude.
Who are the manufacturers?
You can check out the manufacturers and their products below along with a calculator here. If you still insist on buying, do not to go for BFL. Their track record is horrid and borderline scammish. KnC fucked up a lot with defective boards and chips. Personally, I think CoinTerra is the best choice. Alternatively, you can go on the secondary market to buy a delivered product. You can get a better deal there if you know how to do your "return on investment (ROI)" calculation. Personally, I will go for a 45%-50% difficulty increase for the next 3 months for my calculations and a 2% pool fee. However, most products on ebay are sold at a cost much higher than it should. bitcointalk.org is a cheaper place because everyone knows what are the true value is so you will find less options. If you are unclear or need assistance, please post a question.
Which pool should I use?
I actually do not use any of the pools recommended to the left because I think they lack features. My favourite is Bitminter (Variable fees based on features used; max 2%). It has all advanced features for a pool, very responsive and helpful owner on IRC. Variable fees is good for those who do not need a large feature set, even with all features turned on, it is still cheap. Eligius (0% fees) has high value for money but lacks features. It has anonymous mining which might be attractive to certain subset of people but not for others. Many other community member and I disagree highly with the opinions of the owner on the direction of bitcoin. I do use his pool for now but I do so only because I share my miners with a few partners and anonymous mining allows us to monitor the machines without using an account. Bitminter uses only OpenID which is problematic for me. BTC Guild (3% fees) is another big pool and is fully featured and does charge a premium for their fees. That said, they are the most stable of the lot. I do use them but do so only because my hoster uses them for monitoring. I try not to use them because a pool with a very large hash rate (they are the largest) presents a large vulnerability to bitcoin's network if compromised. All of them pay out transaction fees.
New to mining. Electricity is free. What are some low cost hardware options that'll make enough for grocery costs?
I've been using nicehash on my gtx 1060 and my fx-8350 the last couple days, netting me a whopping $3.12 in 2 days. That's an extra 539 a year so it at least pays for 5/8ths of a months rent. However, I have about $450 to spare that I was going to use to buy bitcoin. I would like to, instead, buy a cheap mining rig that can at least make a couple hundred a month. At my current $46.8/month mining, I think a cheap dedicated rig could easily pull that off, right? I found a "AsicMiner Blade Block Erupter" for $50 on ebay that looks like it doesn't take much power, can be attached to my gaming rig's PSU, and gets 10Gh/s. My nicehash states im currently getting 29Mh/s, so that's a substantial, simple upgrade, right? All in all, if there are other options that I can easily attach to my computer, rather than a separate power supply, that's be amazing EDIT: i suspect my current 29Mh/s is wrong, or the online mining calculators are off, because when i plug in that rate it shows i make about $0.014 per year, which clearly doesnt match up. Can someone confirm this?
Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li
A few days ago, the IFIC International Financial Technology Innovation Summit, hosted by People’s Daily People’s Digital, Sanya City Bureau of Commerce, FINWEX, and Guoyin Jinkong, was held in Sanya. At the meeting, Bottos Chain CEO Li Xiang made the theme “The Hope of Machine Civilization”. The speech shows the basic positioning of the Bottos chain “the infrastructure that focuses on artificial intelligence, the application platform that serves data, algorithms and computing power”, and outlines the evolutionary framework of machine civilization to replace industrial civilization. During the meeting, Golden Finance interviewed the Bottos chain CEO Li Xiang. Bottos CEO Li Xiang
Golden Finance: Please introduce the development track of the Bottos chain?
Li Xiang: According to different development periods, we divide the Bottos chain into 1.0, 2.0 and 3.0. From 2017 to 2019, Bottos Chain 1.0 — positioned as an artificial intelligence infrastructure. Our entire team spent a year and a half developing BottosChain from 0 to 1, and open source at the end of May 2018, and officially handed over the community to decentralization in December of the same year. As a self-originating public chain, the Bottos chain BottosChain has its own independent property rights in many key technologies. At present, we have applied for 3 key technology patents, which are very flexible in the whole architecture design. We reserve the interface for the AI empowering blockchain, and at the same time have great advantages in commercial performance, and do everything possible to lower the threshold. From 2019 to 2021, it will be Bottos Chain 2.0 — positioned in the artificial intelligence industry. Our goal is to help 10,000 smart DApps to land, securing massive amounts of user data assets, and letting data, computing power, algorithms and other production materials Fast exchange, spiraling out higher AI wisdom, allowing the industry to achieve a higher premium. From 2022 to 2025, the Bottos chain 3.0 is positioned as a revolution in the AI back-feeding blockchain. Based on the accumulated industrial data and machine intelligence of the Bottos chain 2.0, the Bottos chain will pass the underlying code to the robot to optimize and rewrite. The ultimate goal of the first public chain of artificial intelligence. I believe that by 2025, humans no longer need to work. The machine is not only fully qualified for labor, but also the underlying code of the blockchain. In the future, the Bottos chain platform will be used to divide the value of machines and people. At that time, human intelligence will be You can explore the stars and explore the bigger unknowns.
Golden Finance: What do you think is the biggest value of the blockchain?
Li Xiang: Rather than saying that the blockchain creates new value, it is better to say that the blockchain will not be released from the statistical stock value. For example, each of us is generating massive amounts of data every day. When these data are securitized by the blockchain, everyone is Xiaolai Li. The digital economics of Bottos chain cognition is the use of blockchain technology to redistribute the productivity of the digital economy through data, algorithms, and computational power. The Bottos chain is positioned to carry the evolution of artificial intelligence using blockchain technology, and we must share Data asset securitization will bring huge value dividends. In the era of the Internet, data is centralized, and data obtained from users at no cost has created giant companies such as BAT. In the blockchain era, personal data will truly belong to individuals. Due to the popularity of 5G-promoted ubiquitous Internet of Things, the silent data of tera-sensors will be activated to generate new artificial intelligence, between individuals and individuals outside the BAT client. Obtaining the possibility of peer-to-peer direct sharing of data, we do not need to snatch data from Internet packets, but exchange data directly from the bottom of the sensor through the Internet of Everything. The exchange and superposition of data and data has spawned the spiral evolution of algorithms and computational forces, and then returns the generated value to the individuals of the data source. We can see that the platform built by the Bottos chain carries the closed-loop value of data, algorithms and computing power in the machine civilization. Artificial intelligence is one of the few blockchain fields that can construct an all-digital closed loop. Artificial intelligence is also the only way to bypass Taobao WeChat. This is the value chain of the centralized application, which is the original intention of the Bottos chain to locate artificial intelligence. In the field of artificial intelligence, the main source of value of Keda Xunfei and Shangtang Technology is the free data source provided by millions of users. We can imagine that the market value of the two companies will be divided into millions of users, and the per capita capital will be renewed. Assigning the scene, this is the mission of the Bottos chain.
Golden Finance: How do you see the relationship between artificial intelligence and blockchain now?
Li Xiang: Artificial intelligence is productivity, blockchain is production relations, productivity is that I can destroy you, production relationship is that I can’t directly destroy you, but I can offer the best person to destroy. Productivity creates value, and production relations drive productivity, so they are complementary and can be understood as the poles of Tai Chi. So how many blockchains in the future will have a lot of blockchains to help him achieve value, otherwise he can’t live alone because he didn’t make money. Suppose a developer researches an algorithm, including Bitcoin, which is an algorithm that requires a set of value chains to collaborate and a set of cross-organizational value exchange systems to support. Without a value chain and value mitigation, this algorithm cannot be separated. survive. We have restored this form of bitcoin to countless entrepreneurs, technology workers, man-machine warriors, and data providers, so that they can make new money. Intelligent hardware far exceeds the commercial value of traditional hardware. It comes from its semi-soft and semi-hard features. The soft part can not only capture hard information, perform edge calculation, but also self-purify to rewrite the working mode of hardware. We can simply Understood as a line upgrade on Apple phones. But traditional hardware, it is only hard and not soft, his data is wasted, and he can’t self-evolve. So, the combination of soft and hard is a new life state of the new life, which is the basic unit of machine civilization. Everything in the future is soft and hard, it generates data, and the hardware becomes a living body. This kind of living body will evolve from industrial civilization to machine civilization if it evolves from industrial civilization to machine civilization if it evolves into machines that build machines and machines that write programs (we are writing artificial contracts directly with artificial intelligence).
Golden Finance: What difficulties and challenges did Bottos encounter from its inception to the present, and which pits have been crossed?
Li Xiang: From 2017 to 2019, we have experienced some minor storms. In general, it is a challenge all the way, but in the end, it will turn into a growing nectar. The first is the cognitive challenge. We are a revolutionary platform. Therefore, we advocate the spirit of geeks. Only by breaking through the cognition can we change the world. We believe that the artificial intelligence + blockchain can rewrite human civilization. The future is the age of machine civilization. Everyone is worth the money. It can support countless robots. At the same time, everyone is very profitable because he participates in and shares the feast of machine civilization. This is a huge bonus that the Bottos chain hopes to excavate. Secondly, the technical challenge, blockchain + AI is extremely brain-burning, when black technology encounters black technology, if there is no deep understanding of the two industries, there is no great courage and determination, this double track It is very difficult to do it. Finally, there are challenges in the quality of the team. In the process of project development, there will always be a low point. When there are pressures from all sides, there are new people joining the old people on the road, how the core team keeps the initial heart and the front, I think it is the project. The core factor that can ultimately achieve the goal.
Golden Finance: What is the possible type or industry of DAPP in the future Bottos chain?
Li Xiang: Focusing on data and sensor algorithms, there are many application scenarios, such as travel scenarios, smart home scenarios, car networking scenarios, and then there are a large number of scenarios on the mobile side, or reversed according to value, as long as it can correspond to a billion-dollar The centralized enterprise, we all have the possibility to create a mechanism to take back. At present, artificial intelligence has begun to erupt from visual hearing, such as Keda Xunfei and Shangtang Technology, which have begun to gain a lot of application value. The reason is that the standard of the Turing test is to let the machine have the ability to talk with people. This ability comes first from simulating human perception. The meaning of the sensor is to digitally simulate the five senses of people and generate massive data. So now we see that artificial intelligence breaks through from hearing and vision first, because human sensors and radios are the crystallization of human sensors that are close to a hundred years of development, and the sensors of touch, smell and taste need to evolve gradually. . With five senses, we also need to think about thinking. Google’s man-machine war is the application of thinking. With thinking and driving feedback, Google’s Boston Power Robot is the application that drives feedback. Google is a monument to artificial intelligence, its valuation is more than 800 billion US dollars, and countless Keda Xunfei in the world are catching up with speed. It is conceivable that the Bottos chain stands at a dawn moment when a great era is about to open. We not only hope to remind the birth of countless Google, but also hope that these “new Google” will repay the millions of wealth of Xiaolai Li. If you aren’t already in our group, please join now! https://t.me/bottosofficial Bottos Website | Twitter |Facebook | Telegram
How to determine a break even point and how many coins one can mine?
If I had a Block Erupter 49 Port USB Hub and started filling it with AntMiner U2 2 gh/s USB miners, how do I figure out how many coins I can mine versus the expense of the hardware? (lets forget about electricity for now) The Hub is $99 and the AntMiner U2 2gh/s are about $23 each. I looked at this: https://alloscomp.com/bitcoin/calculator so plugging in 98 gh/s (49 miners * 2gh/s each) it would seem that this makes $16/mo but this hardware would cost about $1200 + a power supply to power it all. Where is the sweet spot for hardware cost versus return? is the above setup worth the money or for the same amount is there a better solution?
The Simulation, The Multiverse, The Blockchain, and the Powers of Prediction acting on the Time-Space Continuum
The Simulation - The Multiverse A popular topic in philosophy and science as of late is the discussion regarding whether we live in a Simulation. This idea might seem modern, or like it was inspired by the Matrix trilogy, but in fact, this idea is as ancient as any. In Hinduism, the creation of the universe is attributed to Brahman - the idea that reality exists within the mind of the creator. This is altogether not terribly different than the story we are told in the Bible - that existence originates from the thoughts of a divine creator. The alpha, the beginning, and the omega, the end - these are points in time that didn't exist until their creation and measurement - more accurately, the measurement, by us, humans. How does this relate to The Simulation? We would have to ask, if this is a Simulation, then what is it a Simulation of? If we can look at the above stories, it is the question that seeks to know, "what would happen between the beginning and end of time?" And in this sense, what you are experiencing is one of the many possibilities that exist in between the beginning and end. You are simply, somewhere in the middle, between those two points, measuring the flow of time and change in reality. The Simulation Hypothesis is proposing that you are existing in a state of quantum infinite possibilities, and measuring the reality that currently appears as data in the form of vibration ( as light, sound, or materialistically), interpreted by your sensory organs, formatted into signals that can be interpreted by your nervous system which through your brain creates what we call, reality. Your recollection of the past reality is stored in your brain as memory - through a series of neural pathways that we cannot observe from the outside of the mind - but we have learned that this mechanism is subject to tampering. The human memory is a terrible way to store data - studies have shown that it is far from perfect. We constantly change how we remember the past so that we can live with ourselves in the present - we avoid taking responsibility for the part we play in the present entirely. We are seeking to justify our behavior in the past to avoid taking blame for the present realities we experience when they are negative. And yet, the memories that we contain about our perception of the past largely shapes how we act in the present, in an attempt to extrapolate the future in pursuit of a better one. Reality, itself, is subject to tampering. In an attempt to understand where we are in the planetary story, we pay attention to “world events” in anticipation that these events will affect us. We hear a story, and are told how it might affect us, and when we are affected, our minds create a cause and effect relationship between the two objects - the cause, and the experienced affect. Future similarities that fit the model to perceived correlations of the past result in modified behavior in the present to mitigate against the expected outcome. In this sense, we are computers made of meat, in a never ending cycle of storing data, observing data for patterns, in an attempt to extrapolate the outcomes of the future. We are walking prediction machines, looking into the past for trends, so we might learn how to craft a better future. Self awareness, and humility - result in our ability to observe how flawed these perceptions have been in the past, but this is in itself, a step in personal growth that many people are largely seemingly incapable of. We are innately aware of our ability to use these pattern recognition abilities to observe unpleasant past experiences in hopes of avoiding similar experiences in the future - and yet, we are also aware of how often our ability to predict the future goes awry - sometimes resulting in the unpleasant reality that we hoped to avoid. In this sense, we are always looking for better data, so that we can try to make better, more accurate, predictions about the future. And this action, of looking for a better authority figure to tell us what needs to happen next to avoid a future we all want, is dangerous in itself. This behavior of outsourcing our concern and contemplation to an authority figure is perhaps the most destructive habit humanity has ever shown itself to be capable of. And so, going back to our creation story, we are a microcosm of a celestial attempt to compute a simply question: What will/has/might happen between the beginning and end of time, as I perceive it? The brutal irony of the question, is that when a meat computer exists within a experiment to see what happens between the beginning and end of time, the meat computer within the calculation has a way of changing the outcome of the cosmic calculation of this question. An infinite amount of possibility exists as a result of a meat computer within a computation that is prone to making mistakes, unintentionally. But to err is human, and to be expected when the human doesn't have enough perspective or data at any one moment to make a completely educated guess about what's going to happen next, though the hardware is likely capable of optimizing for the future, if it had enough perspective. In spite of this, we can hopefully observe that the overarching trend is towards “good” - and in that sense, it is seemingly true, that as long as you try your best, you can forget the rest, things seem to trend in the right direction. But we must consider the possibility in every choice ever made, that another choice could have taken place that might echo through the reality of time. Cleaving the possible universe in two directions - some people refer to this as the multiverse - the multiple possible universes that could exist infinitely, in all directions. More simply put, it is all the possible configurations of matter and energy in the universe that could have ever been possible, when including such a fuzzy calculator as the meat computer that the human mind is. The Blockchain The first blockchain technology, Bitcoin, was created by a mysterious figure going under the pseudonym “Satoshi Nakamoto”. It was created to act as a replacement for the banking system that didn't require a third party like Visa, Mastercard, or Bank of America to facilitate. Simply put, it is a system that keeps track of the balances of of the quantity of bitcoin in every account on the network, and keep track of its changes. The intervals that change is permitted to occur on are called, “blocks” - hence the name, blockchain. When you start at the beginning, or alpha/genesis block, there is nothing, and as blocks are created, a more complex arrangement of the balances of bitcoin are created using algorithms to validate the changes from one block to another. More specifically, it is a digital universe that is storing the present configuration of 1’s and 0’s to represent the location of all the bitcoin in existence by way of “wallet” addresses. But, let us imagine for a moment that this system was not accounting for all of the possible locations of “internet money” in “wallets” but instead, was accounting for locations in time and space, and the characteristics of matter and energy at those points. Imagine, that instead this decentralized network of computers was coming to an agreement about reality, not in the sense of how much money each of the users had, but rather how many protons, neutrons, and electrons existed in every possible location in space, and with what amount of energy. Now, every time a block is added to the chain, we are observing the increase/decrease in the presence of energy and particles in each of those possible points in space. If we viewed the changes in these points in space across a progression, we would be observing the change of matter in the flow of time. In this example, the smallest unit of time, is considered to be one block - in physics, the term for the smallest possible unit of time is referred to as a Planck. Physics would tell you that a series of Plancks observed together is what creates a moment in your experience of reality. The change from one planck to another is similar to to the blockchain - your ability to perceive these changes accounts for the continual progression of time as you observe it, which is to be the reality you live in. In the world of blockchain technology, if the machines measuring the change in reality have a disagreement - this can sometimes result in what is called a “fork”. It is when the network of machines measuring, changing, and maintaining the records of the past decide to go their separate ways. Litecoin and bitcoin cash are forks of bitcoin. Ethereum and Ethereum Classic are forks of each other. In this sense, we are watching these blockchain technologies create multiverses every time a fork happens. This is also what is happening in your reality every moment, but you simply cannot access the other forks, because you are experiencing the present reality you measure and choose to participate in while hoping to experience a better future. Prediction What we might consider prediction of the future is in many ways also our creation of that future through action. To think that a desired future is going to come your way simply by wishing for it without participation in the creation of that future is what some might refer to as “magical thinking”. However, inaction is, in itself, a choice that will affect the future. Sometimes, sitting and waiting patiently for change to occur is the right choice. Sometimes, expecting change to occur through inaction is madness. Whether something is madness, or the right choice, largely depends on the outcome, not that actions taken to get there. We do not evaluate a decision based on intention or hope - we base it on results. Results are, after all, the litmus test we use to determine if a choice is a success or not. But hopefully you can see, that the very action of attempting to predict the future, or assuming that one is capable of doing so, inherently changes the future. Which leads to an interesting question - can we predict a desired future, and through the expectation of it to come, actually cause it to manifest it? In short, this is the power of belief and its ability to change the world. It is the Law of Attraction. If you believe that America is going to erupt in cannibalistic anarchy, you might buy a gun, some salt, and pepper. In the presence of these ingredients, it has become that much easier to comfortably eat your neighbor in that horrific future, and thus, created a higher probability of cannibalistic anarchy occuring that drove you to prepare for it. Unfortunately, sales of guns, salt, and pepper are at an all-time high. So in this sense, we should be very afraid. But, perhaps, if we decided collectively that this future is not one that we want to move towards anymore, and predicted a better future for ourselves based on an honest reflection of humanities propensity for cruelty, greed, and madness - that we might be able engineer a prediction mechanism that could use those all too common human traits to manifest a better future. Imagine you are looking out the gap in the blinds of your house - waiting for the race war, or Mad Max future to show itself on your front door. You are deciding whether or not to buy an AR-15 and load up on seasoning and ammunition. The old adage, “Better to have one and not need it” has been the prevailing theory on how to ensure survival in a world where if you don't have a firearm, then in all likelihood, your neighbor does. But what about if we created an alternative that would better suit your needs when the shit hits the fan? Imagine if you could go to a marketplace for prediction, where you could express your worry, certainty, and desire for security in dollars. This already exists in many forms. You can imagine these marketplaces like a sportsbook or bookie for the future. Instead of betting on who is going to win the superbowl, you are betting on the likelihood of an awful outcome that worries you. This is also functionally what an insurance contract is. But imagine if we created an insurance plan that is so competitive in protecting you against the cannibalistic anarchy you are fearing, that instead of buying an AR-15, ammo, and seasoning, you purchased a position in the marketplace where if there was a collapse of society, you would get 500x your investment in a global store of value, like gold, or cryptocurrency. Now, instead of having spent 1,000 USD on an AR-15 and only having a AR-15 to survive the apocalypse with - you have the equivalent of 5,000,000 USD in transferable wealth. You can certainly buy a spare AR-15 at that point. You can also buy any other supplies, like chickens, salt, and pepper - and maybe not need to eat your neighbor. Would we not say that by using such a prediction market, we created a better possible future, where the likelihood of cannibalistic anarchy wasnt increased by the purchase of a firearm? Did the alternative to purchase such a position within a prediction market in fact decrease the likelihood of the awful outcome we had come to fear? Almost certainly. In this sense, simply because we predicted with near certainty that there would be no apocalypse, that the likelihood of an apocalypse decreased. But where would the limits be? How can we know if we never try? Imagine if instead of betting against the apocalypse, there was a 250:1 payout against the likelihood that a base on the moon will be created or discovered this year. In one year, if there was no moon base discovered or created, then the money anyone lost by betting such an outcome would happen could be rolled over into the next year. If in the second year, there was still no moon base discovered or created, the funds could be rolled over an additional time. If no progress was being made on creating a moon base, then we could increase the payout over time to maybe 500:1. Until finally, Elon Musk sees that the costs of creating a moon base is recoverable by way of betting on himself, and builds one, recouping the cost of construction from the prediction market. In this sense, we can imagine a mechanism of prediction that is fueled by greed, fear, wealth, and ambition, that might be able to create or prevent a future that as a species we desire to create in a decentralized way - without ever needing to see our politicians create a compromise to give that future to us. Every moment of your life is an opportunity to create a fork that might lead somewhere better. Often, we simply aren't aware that we have other choices. Maybe its time that we become more aware, before some sort of artificial intelligence becomes aware and makes the choices for us. Conclusion Make no mistake about it - you live in a Simulation on some level. Your very perception of the events of your life is a Simulation that only exists within your own head. When your mind and another mind meet, a compromise of reality must take place if those minds are going to come to cooperate in the pursuit of a better future. On a grander scale, we might be living in a decentralized computational model of reality that only seemingly exists because we perceive the changes through the lenses of our eyes. But hopefully, we exist in a non-deterministic reality, where the past, present, and future are all infinitely configurable and possible. And if all things are possible, then the only thing we can hope to do in the present is increase the probability of our desired possible outcome. But, if we are going to continue to live in fear of each other, rather than cooperate, it seems there is little hope for humanity. We would have to put our faith in the idea that all of us are mirror images of each other, and all want a better future for our families - and hope that a better future has room for us all.
As the title says, I am completely new to mining and I'm not sure if I should buy the Antminer. What is your advice on how to best get started with mining? I would prefer something cheap that could pay for itself, then use the money it generates to upgrade my setup. I have a couple of questions about the antminer:
Is it locked in to just mining bitcoin? Or can I mine other cryptocurrencies with it?
The amazon page says 1.6GH/s. What is that in MH/s so I can plug the numbers into an efficiency calculator?
If I just buy the miner itself, will I be fine, or is there anything else I should buy to increase efficiency?
Are block erupters worth buying with the current prices?
I want to get into mining as a hobby to support the bitcoin/altcoin network. I'm looking to buy 5 erupters and set them up with my Raspberry pi. I found someone selling them for £30 (used) each which is the cheapest I've found. But seeing as they will never break-even, I'm not sure it's worth it. Should I wait? Note: Sorry for my broken English :)
[WTB] USB Block Erupters for 0.01 BTC each - I am buying everything you have at that price!
YOU: Have block erupters? Not making ROI? ME: I WILL SEND YOU 0.01BTC FOR EVERY BLOCK ERUPTER YOU SEND ME! That's more BTC than you could ever mine from a block erupter. At current difficulty they are pulling in a whopping 0.00007679 BTC/day according to this link: http://www.alloscomp.com/bitcoin/calculator Which means it would take you 130 days to mine another 0.01 BTC, and that's only if the difficulty never increases... which it will: http://bitcoin.sipa.be/ (it's projected to increase 2% per day for the next 30 days as of today according to the second last graph). Send me a PM if you're interested. I will PM you back my address. Once I receive the block erupters at my address, I will send the BTC to your Bitcoin address which you can write down and place inside the package or send me via PM. WHY DO YOU WANT TO PAY MORE THAN THESE THINGS ARE WORTH? That's a great question. I may be asking myself the same someday. I mainly give them out as gifts to those interested in bitcoin/bitcoin-mining. I give some to friends/relatives/out-in-public/at poker games/etc... I have done this once before with good results... http://www.reddit.com/BitMarket/comments/1rvny8/wtb_asicminer_asic_usb_block_erupters_sapphire_o Escrow is out of the question because the price is so low. Not to mention I'm a moderator of this subreddit for a few years now so I can guarantee you I will not run with your $10 to risk my reputation. Feel free to leave any questions in the comment section below!
I have a single block erupter cube. BTCGuild reports just over 38GH/s with 0.18% rejects and my 24hr earnings are consistently ~30% less than what https://bitcoinwisdom.com/bitcoin/difficulty tells me I should get from 38GH/s. Today, I got just under 0.003BTC/day, compared to 0.0044BTC/day from the calculator. What gives?
New to r/Tokenmining? click here for more in-depth info!
What is EIP:918?
EIP:918 is an Ethereum Improvement Proposal for standardizing mineable token distribution using Proof of Work. The primary driver behind the standard is to address the very broken ICO model that currently plagues the Ethereum network. Token distribution via the ICO model and it’s derivatives has always been susceptible to illicit behavior by bad actors. New token projects are centralized by nature because a single entity must handle and control all of the initial coins and all of the the raised ICO money. By distributing tokens via an alternative ‘Initial Mining Offering’ (or IMO), the ownership of the token contract no longer belongs with the deployer at all and the deployer is ‘just another user.’ As a result, investor risk exposure utilizing a mined token distribution model is significantly diminished. This standard is intended to be standalone, allowing maximum interoperability with ERC20, ERC721, and future token standards. The most effective economic side effect of Satoshi Nakamoto’s desire to secure the original Bitcoin network with Proof of Work hash mining was tethering the coin to real computing power, thereby removing centralized actors. Transitioning the responsibility of work back onto individual miners, government organizations have no jurisdiction over the operation of a pure mined token economy. Oversight is removed from an equation whereby miners are providing economic effort in direct exchange of a cryptographic commodity. This facilitates decentralized distribution and establishes all involved parties as stakeholders. The ERC918 standard allows projects to be funded through decentralized computing power instead of centralized, direct-fiat conversion. The Ethereum blockchain in its current state exists as a thriving ecosystem which allows any individual to store immutable records in a permission-less, invulnerable and transparent manner. Recently, there have been proposals to mitigate some initial ICO investment risks through the introduction of the DAICO model that relies on timed and automated value transfers via the smart contract tapping mechanism. However, this does not align a token smart contract as a non-security and still has the potential to put investors at risk if not implemented carefully, relying on centralized actors to be fair and community intended. Allowing users of the network direct access to tokens by performing computations as a proof of work supplies allows any smart contract to distribute a token in a safe and controlled manner similar to the release of a commodity. As of 2017, all Ethereum token distribution methods were flawed and susceptible to Sybil attacks. A Sybil attack is a form of computer security attack where one person pretends to be many people with multiple computer accounts in order to manipulate a system in a malicious way. ICOs and airdrops are highly susceptible to these type of attacks so there is no way to verify that all ERC20 tokens distributed by the deployer were doled out fairly or unfairly. Proof of Work distribution is resistant to Sybil attacks. This means that ERC918 tokens are among the first trustless Ethereum tokens in the world. The distribution of ERC918 tokens is fair because they are allotted via an open, decentralized mathematical algorithm (that anyone can view on the mainnet blockchain) and not a centralized human monarchy. ERC918’s first incarnation (and inspiration) was the 0xBitcoin project that launched in early 2018. Since then, several projects have realized the standard in innovative and creative ways. Catether (0xCATE) erupted early and additionally mints payback tokens during transfer operations to offset gas costs. 0xGold and 0xLitecoin each implement the first on-chain merge-mining with 0xBitcoin and the Mineable Gem project extends the standard onto a non-fungible collectible artifacts, whereby each gem has a unique mining difficulty. The Mineable project is a newer initiative that provides users with the ability to create mineable ERC20 tokens on-chain without writing a line of code and includes a virtualized hashing artifact market that allows miners to purchase on-chain vGPUs to improve mining difficulty and rewards. (written by jlogelin)
MINING IN A NUTSHELL
0xBitcoin is a Smart Contract on the Ethereum network, and the concept of Token Mining is patterned after Bitcoin's distribution. Rather than solving 'blocks', work is issued by the contract, which also maintains a Difficulty which goes up or down depending on how often a Reward is issued. Miners can put their hardware to work to claim these rewards, in concert with specialized software, working either by themselves or together as a Pool. The total lifetime supply of 0xBitcoin is 21,000,000 tokens and rewards will repeatedly halve over time. The 0xBitcoin contract was deployed by Infernal_Toast at Ethereum address: 0xb6ed7644c69416d67b522e20bc294a9a9b405b31
MINING IN MORE DETAIL (Gee-Whiz Info)
0xBitcoin's smart contract, running on the Ethereum network, maintains a changing "Challenge" (that is generated from the previous Ethereum block hash) and an adjusting Difficulty Target. Like traditional mining, the miners use the SoliditySHA3 algorithm to solve for a Nonce value that, when hashed alongside the current Challenge and their Minting Ethereum Address, is less-than-or-equal-to the current Difficulty Target. Once a miner finds a solution that satisfies the requirements, they can submit it into the contract (calling the Mint() function). This is most often done through a mining pool. The Ethereum address that submits a valid solution first is sent the 50 0xBTC Reward. (In the case of Pools, valid solutions that do not satisfy the full difficulty specified by the 0xBitcoin contract, but that DO satisfy the Pool's specified Minimum Share Difficulty, get a 'share'. When one of the Miners on that Pool finds a "Full" solution, the number of shares each miner's address has submitted is used to calculate how much of the 50 0xBTC reward they will get. After a Reward is issued, the Challenge changes.
HOW DIFFICULTY ADJUSTMENT WORKS
A Retarget happens every 1024 rewards. In short, the Contract tries to target an Average Reward Time of about 60 times the Ethereum block time. So (at the time of this writing): ~13.9 seconds \* 60 = 13.9 minutes If the average Reward Time is longer than that, the difficulty will decrease. If it's shorter, it will increase. How much longer or shorter it was affects the magnitude with which the difficulty will rise/drop, to a maximum of 50%. * Click Here to visit the stats page~ (https://0x1d00ffff.github.io/0xBTC-Stats) to see recent stats and block times, feel free to ask questions about it if you need help understanding it.
Presently, 0xBitcoin and "Alt Tokens" can be mined on GPUs, CPUs, IGPs (on-CPU graphics) and certain FPGAs. The most recommended hardware is nVidia graphics cards for their efficiency, ubiquity and relatively low cost. As general rules, the more cores and the higher core frequency (clock) you can get, the more Tokens you will earn!
Mining on nVidia cards:
Pascal (GTX 10x0) cards are usually the best choice due to their power efficiency. Maxwell-Generation 2 (GTX 9xx) cards are also a good choice and are often great overclockers, but they use more powegenerate more heat. Any fairly-recent nVidia card supporting CUDA should be capable of mining Tokens. It's possible to mine in OpenCL mode on nVidia devices, but It is preferable to use a CUDA for substantially better performance. (See Mining Software section.)
Mining on AMD cards:
AMD GPUs are quite capable of Token mining, though they can't achieve quite the same performance that nV/CUDA GPUs can at this time. Because of their typically-high memory bandwidth (especially cards with HBM/HBM2), it is possible to mine 0xBitcoin/ERC918 Tokens alongside a Video Memory-intensive algorithm like Ethash or Cryptonight! (See Mining Software section.)
Mining on IGPs (e.g. AMD Radeon and Intel HD Graphics):
This type of GPU is considerably less powerful than a discrete GPU, but is still capable of mining. They can supplement hashpower from other devices. The best performance should come from a chip with a larger number of Shader cores (like a Zen-based APU), but even typical Intel IGPs can submit shares and earn Tokens. (See Mining Software section.)
Clocks and Power Levels:
The algorithm used for 0xBitcoin and Alt-Token mining uses the faster memories in a GPU core instead of Video Memory. As a result, it is advisable to underclock the Memory, which will save a little power, reduce memory temperature and sometimes enable the GPU core to hit higher clock speeds with stability. A card's Power Limit and Core Voltage can be tweaked to attain the best efficiency for individual cards. ~Pascal cards (like GTX 10x0) are generally more temperature-sensitive when overclocked. Reducing Core temperature can often stabilize higher overclocks better than adding voltage can. Maxwell-Gen2 cards (like GTX 9xx) can usually be overclocked further at higher temperatures.
V4.x versions are a near-total 'Modern' C++ rewrite/redesign for 64-bit Windows, built for speed, ease-of-use and stability. It supports nVidia/CUDA devices and Pool Mining. Solo/CPU mining both planned. Features a fully-integrated GUI, numerous optimizations assembly functions for speed (nicknamed 'Hashburner'), and supports multiple GPUs running in a single instance since v4.1. Auto-Donation/devfee of 1.5% (default of 1.5%.) Under active development!
A fork of 0xBitcoin-Miner designed for enhanced speed and less invalid shares at the Pool level. It is somewhat older and is built using a combination of NodeJS/C++/CUDA. It has versions available for 64-bit Windows and Linux and runs from a command-line interface. Comes in multiple versions with 1, 1.5 or 2% "Auto-Donation"/devfee. Not under development at this time, but still relevant.
A Command-Line Interface miner that aims to provide functionality similar to that of "CCMiner" for other algorithms for 0xBitcoin and other ERC-918s. As such, it offers an API for integrating with Mining management software and integration with HiveOS & EthOS. It also supports OpenCL devices (such as AMD cards and Intel IGPs.) Has a minimum Auto-Donation/devfee of 1.5% (with a default of 2.0%.) Under active development!
AIOMiner is an All-In-One GPU Mining software for Windows that boasts support for over 55 different algorithms, is free to use, and eliminates the need to configure batch files through its easy to use interface.
TokenMiner is based upon Genoil Ethminer and was the first to add support for OpenCL devices (AMD GPUs/APUs.) It supports CPU and Pool/Solo mining from its command-line interface (in -C or -G, -S or -P modes.) It can also mine on nVidia/CUDA cards (in OpenCL mode, albeit with lesser performance.) Has a 1% "devfee" running in Pool Mode. This miner has since been forked for compatibility with some FPGAs!
v2.10.4 is an enhancement of the original 0xBitcoin-Miner with CUDA support added by Mikers and enhanced by Azlehria. "Nabiki" is a C++-only version, with no NodeJS code, which supports Pool Mining (just not Solo) and works on Windows 64-bit and Linux. Source code is available with pre-packaged binaries and a GUI in the works. Has a 2.5% "devfee". Under active development!
~Older Miners: Older and possibly-unsupported miner versions can be found at the above link for historical purposes and specific applications- including the original NodeJS CPU miner by Infernal Toast/Zegordo, the '1000x' NodeJS/C++ hybrid version of 0xBitcoin-Miner and Mikers' enhanced CUDA builds.
FOR MORE INFORMATION...
If you have any trouble, the friendly and helpful 0xBitcoin community will be happy to help you out. Discord has kind of become 0xBTC's community hub, you can get answers the fastest from devs and helpful community members. Or message one of the community members on reddit listed below.
05-22 23:03 - 'To the TA folsk...' (self.Bitcoin) by /u/fragglerock11 removed from /r/Bitcoin within 89-99min
''' When are you guys going to realize that the price of bitcoin is dependent on two things. Which side the coin lands on, and where the darts land on the board. Because this is how bitcoins price is determined.... Somewhere there exists a room, and in this room, there are men. Every day, these men have two important objectives. First, they gather round a table in a circle, and on this table is a box. From this box, a coin is produced. On one side, there is a green vertical bar. On the other side is a red one. Next, the spinner from the game twister is pulled from the box. It is placed on the table, and given a spin by the previous days coin flipper. The person who it is pointing towards when it comes to a rest, is the days Market Maker. This person is handed the coin, and flips it high into the air. The previous result of the coin flip is irrelevant. What has happened the day before belongs to yesterday. What happens today, belongs to the coin. Ah, it has landed on Red Bar. One of the men from the circle exclaims, " So it has been decided, today the market will go down!" "huzzah!" say the rest. Then, a a dart is pulled from the box. The one who flipped the coin is handed the dart. He then walks to a line that is drawn twenty meters from a board with hundreds of numbers on it ranging from 0 all the way to 2000. The majority of the numbers represented fall between 0-500. With a couple spots on the board reserved for values between 501-2000. There is one spot in the middle which says "wild". This leaves the decision up to the days tosser. He lets the dart fly. "Thud". Cheers erupt from the others, as one man announces "It is settled. Today, bitcoin will drop by $350". The group of men then goes to a computer, clicks a red button on the screen that says down, enters 350 into another box, and then pushes a button that says "Delayed bot activation +1 Hr". Then, they exit the room, walk down a long tunnel, and up a set of stairs, and out a set of storm doors, emerging into the bright morning sun. Beneath their feet, is sand. Nearby waves crash upon a pristine shoreline, completely untouched by footprints. Two of the men push one another as they race to the waters edge, laughing every step of the way. At the same time, thousands of men across the world sit in front of their computers, drawing lines, circles, triangles.... making calculations...applying formulas...intersecting arrows and blobs.. and any number of other methods to try to predict something. Something that was already decided an hour ago on a small, undisclosed island in the southeast pacific. ''' To the TA folsk... Go1dfish undelete link unreddit undelete link Author: fragglerock11
This is a somewhat long story. I started with BTC around 2012, first as a curious, then by joining Slush Pool with GPU mining. It was a good time to mine with CPU/GPU, and I could get around 1.0 BTC. It was that time when the block erupters arrived, and ASICS were still at design level. I crawled through faucets getting some satoshis, played a lot of Satoshidice, and finally discovered the first Exchange in Brazil (will not ad them here, even though I still trade with them). Then, on July 2013 I had a little bit less than 3 BTC, when I saw at bitcointalk.org [https://bitcointalk.org/index.php?topic=252180.0;imode] what was to become my doom: a guy(?) called vdragon was selling a batch of BTC Erupters. Those provided more hash power than what I had, with less energy consumption. Lots of other guys were jumping the bandwagon, and I decided to do the same. I "bought" 3 pieces, with a total amount of 2.67 BTC which I calculated would be returned with the new mining power within a couple of months. vdragon was trading them at the market price, and trades like this were happening all the time at the forum. Needless to say all of us who bought the erupters never received them. We opened a thread on the SCAM forum of bitcointalk.org, but it never went further than it. Some investigations pinned vdragon in either England or Germany, but police couldn't do anything else due to lack of evidence and BTC anonymity. After this, I exchanged part of the BTC I had left, keeping only a few cents (0,027 BTC - I don't really know why). I shut down my fill node, and kept following on the news, but the mere fact of remembering I was stupid enough to blindly trust someone without previous research kept me away of the BTC scene. Until last month, at least, when I checked the exchange rate between BTC and BRL. I remembered I had a wallet.dat file, and spent 3 weeks trying every password I have used in my life, until I finally found the correct password. Those 0.027 covered all my losses, and suddenly I saw myself HODLing again. I've watched as much Andreas' videos as possible, read "Mastering Bitcoin" on Github (paper version is on the way), bought a few more cents, installed Mycelium and transferred those 0.027 there. Also, my full node is back online and I'm setting a LN daemon as well. With this amount, I'm trying my best to disseminate the technology to friends and colleagues, and I can proudly say that since last week there are at least 30 new adopters in the city I live, with much more to come. The most interesting part of the story for those who heard me is when I tell them I was fooled, but this fact didn't affected my belief in the technology and its potential. I'm back to the game! TL;DR: Lost 2.67 BTC in a scam, left the community for 4 years, and returned after overcoming the shame of being fooled, influencing people in my city.
MAD Doge - Such Problems, Much Solutions, Year of DOGE. (March 30th, 2014)
MAD Doge – 3/30/2014 The epic battle in price PANIC! PANIC? Well yes, panic if you want, it’s apocalypse time.
ASICs - What's wrong with efficiency?
ASICs concentrate the mining power to connected and individuals who can either build the mining devices or fabricate the chips. Since they are application specific, the cost and availability is not held up by alternative uses.
ASICs introduce incredible hashing power which can allow 51% attacks for a cost-effective price. Additionally, Multipool effects can be multiplied as well as become easier with ASIC / GPU combined mining.
ASICs are a losing game unless you have the ability to get in on unreleased designs. Buying an ASIC without access to these designs will always leave you at a generation behind the current standard. (Look at Block Erupters - The people who purchased them for $100/piece are doomed to sell them for less as mining can never compensate their losses)
Cryptocurrency is considered a property for taxable purposes, this can cause problems since there are a variety of ways this can be considered, referencing transactions for new transactions will cause a variety of exchange rates to be concentrated at one transaction and the change in value overall has to be calculated for it to be reported on your W-2 tax form (For the USA MAD Doge's)
Cryptocurrency exchanges might accept this and fight to keep this since you will be required to use a cryptocurrency exchange or similar group to track your transactions for taxable purposes. This ADDS additional transaction fees that go directly against one of the core goals of BitCoin...minimal transaction fees - VIDEO LINK (Notice anything that has changed since the generation of this video?.
The need for DogeCoin to have a higher value
DogeCoin needs a higher value as time goes on in order to keep people mining and to avoid the profitability of a 51% attack. Unfortunately, the last halving has left us at only an increase from some of the lowest numbers to around 120 satoshi. Even though this is above double the last average low (58 satoshi), this is actually lower in tradeable value as DogeCoin has dropped with BitCoin to less than the comfortable average of $0.001/DOGE - Side Note: If you're reading this, reply to this post with a joke, I'll tip a bunch.
DogeCoin Value can increase one of two ways and a variety in between: A jump in mining cost and overal hashrate (all else held constant) or a jump in DogeCoin demand. Some might think that ASIC's are a great solution since the hashrate will jump through the roof, however this is foolish. There will not be a cost rise overall since the price to mine will drop as these new asics are rolled out. The difficulty will rise and mining will be backed by a smaller group that mine at a lower cost, thus the new miners will be willing to sell for less.
What am I doing? How am I invested in a solution? (WOW SUCH LONG READ)
I mine via GPU's, my current hashrate is 700-900kh/s. I am running 7790 graphics cards and have recently switched to two 270's which are at 420kh/s average. They're not getting much return, but at least I'm helping keep the system from being 51%'d
I invest in new cryptocurrencies, even if they lose me money (I have lost $50 in new cryptocurrencies) since it is important to buy in to new cryptocurrencies in order to keep their value up so that the development keeps improving. I invested in KGW (Kimoto's Gravity Well) based currencies and Scrypt-N (which I refuse to mine...yet) proof-of-work currencies as well as ones that offer unique improvements to everyday cryptocurrency problems.
Pushing for a solution to ASICs in the order of finding a new way to do Proof-of-Work that is highly efficient on GPU's and CPU's so that anyone can mine equally and profitably (If they are willing to do so).
What's going to happen?
Prices are going to drop until we get a permanent solution or higher demand for DogeCoin. People right now have other larger problems to worry about and will focus on them primarily. Watch out for the price drops near USA Tax Day (April 15th) and possible April Fools price fluctuations if people take fake stories seriously.
Watch out for DogeCar, the price is definitely going to rise, but it's going to be a hard sell since we're basically trying to sell a precious metal now (according to USA's IRS), if you think that's easy, google search gold informercials since gold is also a property.
Prepare for a fork, if new ASICs come on the market and dwarf the current hashrate, a 51% attack could cause us to fork, similar to how AuroraCoin forked. This could also cause Multipool-type shenanigans again.
It's going to be a rough ride, but there are upsides, Cryptsy has started on USD/DOGE exchanges.
[WTB] ASICMINER ASIC USB Block Erupters Sapphire or Emerald - I will pay more BTC than you will ever mine!
EDIT: THE BUYING FRENZY IS OVER! I DO NOT NEED ANY MORE BLOCK ERUPTERS! A big thank you goes out to chairoverflow, halonuke, and jmacdowall for trusting in their great leader enough to send the product before receiving payment. I will be checking my mailbox daily and will send out 0.025 BTC for each block erupter I receive. And now, back to our regularly scheduled program. Hey guys, I've decided I'm going to give my friends and relatives block erupters for the holidays. I am looking for around 10-20 of them. I am paying 0.025 BTC per Block Erupter, shipped to Canada. According to the genesis block's calculations I will only ever lose money on this purchase, so it's a good deal for you the seller! (See: http://mining.thegenesisblock.com/a/dc8e0b0fd5 for further confirmation of that fact) If you have one to sell, and are looking to become a successful /BitMarket seller, there is no better way to do it than getting the thumbs up from one of the moderators! Here's how it works... 1) PM me or leave a comment here stating you are interested in selling a Block Erupter USB shipped to Canada for 0.025 BTC each. 2) I will respond to you confirming I am still interested in buying your Block Erupter and send you my shipping address via PM. 3) You ship the block erupter to my address however you see fit. Include your reddit username and/or desired Bitcoin payment address in the delivery envelope. 4) Once I receive shipment and confirm the Block Erupter is working I will send the 0.025 BTC to your desired Bitcoin address. I will not be paying for broken block erupters. Be sure to place it in a ziplock with some padding if you send it in an envelope. Why should you sell me your block erupters without Escrow? You shouldn't. However, seeing as I am the moderator of /BitMarket and /BitcoinMining for the last few years I can assure you I'm not trying to scam you out of 0.025 BTC or your Block Erupters. Thanks for reading! EDIT: Yes I just stickied this post... I have curated this subreddit for years so I think it's fair enough. I will unsticky this post and edit it once I am no longer buying.
J'ai acheté un mineur USB en Bitcoin à Saint Lazare
Après avoir beaucoup réfléchi à investir dans le minage, fait des calculs, observé le marché, lorgné du côté des BFL Jalapeno, et vu la difficulté monter en flèche, j'ai finalement sauté le pas aujourd'hui en achetant un Block Erupter ASIC Miner usb. Je suis convaincu que nous vivons une révolution, et j'avais envie de posséder un petit bout de cette histoire de crypto devises. Je fais donc un tour sur le net, localise quelques vendeurs, les contacte un par un pour finalement avoir une réponse: Monsieur Spam en a plusieurs, il les écoule à 15€ pour investir dans autre chose. Rendez-vous est pris en plein centre de Paris à midi. Je dépose quelques bitcoins dans mon wallet android, et en route pour ma première transaction crypto devise contre objet tangible. Mon vendeur est en place, nous papotons: développeurs tous les deux, lui s'est mis à miner sur CG il y a longtemps, cette époque bénie où l'on pouvait chauffer son appart en gagnant de l'argent à coup de dissipateurs thermiques :) Les temps changent, la donne est différente; nous sommes convaincus que bitcoin est là pour durer, au moins faire bouger les lignes. Vient le moment de payer. Je sors mon smartphone, scanne le qr code affiché sur le sien, envoie 15 euros, et "DRING" ! La transaction est effectuée quasi-instantanément, les bitcoin sont dans son wallet. Je l'invite au prochain meetup et sur reddit, on se reverra peut être, c'est une petite communauté. Ce qui est impressionnant, c'est que lors d'une transaction de personne à personne dans le monde réel, le processus est extrêmement fluide avec les appli smartphone. 3 clics et boum c'est bon. Easy as cash ! Je pars donc avec ma minuscule machine, et me prépare à miner n'importe quoi à l'aide de CryptoSwitcher et CoinChoose... peu importe le flacon, pourvu qu'on ait l'ivresse. TLDR: j'ai acheté un ASIC avec des bitcoin et ça s'est super bien passé.
For all interested in mining, I've seen this proceeding inaccurate assumption many times and I'd like to demonstrate clearly why you should NOT include your expectations of a bitcoin rising in price in your decision to pursue bitcoin mining. Let's play pretend. Let's say bitcoin price is $100 (for easy calculations). You have $25 to spend. You have found an ASICminer block erupter advertised for $25. Awesome, you think to yourself. Mining is like an automatic money maker. So you buy the block erupter. Over the course of the next few months, you mine .2 btc before it costs more to mine than it makes in a day. Of course, during that time bitcoin has gone way up and is now worth $200. Great, you say! Since .2 btc is now worth $40, you've made a profit of $15. You pat yourself on the back for having been such a savvy investor. But wait. Let's go back to the beginning. Instead of buying that erupter, let's pretend that you just bought bitcoin, instead. When bitcoin was worth $100, you could have purchased .25 btc. Then, in a few months, when btc went to $200, you would have had $50. Which is $10 more than you would have had if you had purchased that erupter! Some people fail to see that when btc rises, anyone holding btc is rewarded with increased purchasing power. The decision to mine should be based solely on whether or not you can mine back as much bitcoin as you paid for that miner today. "But, but, if I buy the miner in fiat, then it won't matter the price of bitcoin; I'll calculate my earnings in fiat only." I hear people say this over and over. This line of reasoning fails for the same reason as the above line of reasoning. Buying a miner is only a wise investment over investing in bitcoin directly if you can make back more btc than the cost of the miner. TL;DR If you can't make back the btc value that you spent for the mining device, then it is a better investment to just buy bitcoin.
Bitcoin Mining Calculator. Got your shiny new ASIC miner? Wondering when it will pay off? If you enter your hash rate below, this page will calculate your expected earnings in both Bitcoins and dollars over various time periods (day, week, and month). Bitcoin mining is a booming industry, but the Bitcoin price increasing can help make up some of these losses. The Bitcoin price is increasing at an average of 0.3403% per day over the past year. Try messing with the calculator using different prices. The Bitcoin price is rising at a slightly lesser 0.3403% per day over the past year. We suggest you enter a custom Bitcoin price into our calculator based on what you expect the average price to be over the next year. The price has gone down for most of the past year, which is a factor that should be strongly considered in your calculations. Bitcoin Mining Hardware Comparison AntMiner U2 2 Gh/s 1.0 W/Gh 0.8 ounces Yes N/A BPMC Red Fury USB 2.5 Gh/s 0.96 W/Gh 1.6 ounces Yes N/A GekkoScience 9.5 Gh/s 0.33 W/Gh 0.8 ounces Yes N/A ASICMiner Block Erupter USB 330MH/s Sapphire Miner The first Bitcoin USB miners were the Sapphire Block Erupters. They have 330 MH/s of hash power which will give you less than $0.01 per month. This is the ... Performing the steps above will basically just create a stand-alone computer to run your mining software. Next we will dive into setting up the actual Bitcoin mining hardware that does the job of mining Bitcoins. ASIC Miner Block Erupters. The Block Erupters used in our mining rig are known as ASIC hardware.
Review & Tips New FusionSilicon X1 (12.96Gh/s) ✅ Checking Miner Status and Setup Mining Pool
**holds up USB block erupters** They mined at a whopping 333kh/s, which was super fast when they were introduced but they are now useless other than novelty or relic purposes. Just me showing off my new bitcoin miner. It may be small and not make much but it's great for someone looking to get into bitcoin and see if it's something they might like. New video up on actual ... Though I've gotten a feel for the Bitcoin Mining Environment and don't plan on continuing it myself, I figured it would be valuable to everyone else who's interested in these guys to do a review ... bitcoin asic mining erupters bitcoin mining free gpu bitcoin mining farm asic ... bitcoin mining with gpu calculator bitcoin mining windows gpu bitcoin mining 1 gpu bitcoin mining asic 2017 Click here to join The Bitcoin Mine!: ... [EASY] How To Mine Bitcoin Using ASIC USB Block Erupters and BitMinter - Duration: 3:56. Daniel St.Pierre 9,382 views. 3:56.