Bitcoin Mining FAQ

Bitfury Begins Shipping 400 GH/s Bitcoin Miners to US and EU Customers

Bitfury Begins Shipping 400 GH/s Bitcoin Miners to US and EU Customers submitted by Micro_lite to Bitcoin [link] [comments]

380 - 400 GH/s Avalon Bitcoin Miner on eBay

I am seeing some 380-400 GH/s miners on eBay. Price is a bit steep but cheaper than buying a bunch of Antminers I suppose. Seems they are using the Avalon 55nm chips. Any feedback or info about these machines?
submitted by AvireXerivA to BitcoinMining [link] [comments]

With the pretty awesome rise of almost all crypto currencies, it's time to restart our machines and mine the most profitable coin today 30.01.2020!!!

So let's talk about the GPUs to start with, the ranking has radically changed and even those that were running at a loss have become profitable again The top 10 chart:
1.NVIDIA GeForce RTX 2080 Ti 4.60 Mh/s 220W $1.35 $0.55 Zcoin(XZC) MTP Algo
2.NVIDIA GeForce RTX 2080 4.00 Mh/s 190W $1.17 $0.48 Zcoin(XZC) MTP
3.AMD Radeon VII 78.00 Mh/s 230W $1.22 $0.39 EthereumClassic(ETC) Ethash Algo
4.NVIDIA GeForce GTX 1080 Ti 3.60 Mh/s 190W $1.05 $0.37 Zcoin(XZC) MTP
5.AMD Radeon RX 5700 XT 51.50 Mh/s 140W $0.81 $0.30 EthereumClassic(ETC) Ethash
6.NVIDIA GeForce RTX 2060 2.60 Mh/s 130W $0.76 $0.29 Zcoin(XZC)MTP
7.NVIDIA GeForce RTX 2070 2.80 Mh/s 150W $0.82 $0.28 Zcoin(XZC) MTP
8.NVIDIA GeForce GTX 1080 2.80 Mh/s 150W $0.82 $0.28 Zcoin(XZC) MTP
9.NVIDIA GeForce GTX 1070 Ti 2.50 Mh/s 130W $0.73 $0.26 Zcoin(XZC) MTP
10.NVIDIA GeForce GTX 1660 Ti 2.00 Mh/s 100W $0.59 $0.22 Zcoin(XZC)
Now let's go to the asic Top 10:
  1. Innosilicon A10 ETHMaster 500.00 Mh/s 750W Ethash $5.13 EthereumClassic(ETC) Ethash
  2. Bitmain Antminer Z11 135.00 kh/s 1418W Equihash $3.45 Pirate(ARRR)
  3. BlackMiner F1+ 22.00 Gh/s 860W Eaglesong $3.23 Nervos(CKB) FPGAminer
4.Bitmain Antminer B7 96.00 kh/s 528W Tensority $1.87
5.Bitmain Antminer S17+ 73.00 Th/s 2920W SHA-256 $1.67 BitcoinSV(BSV)
6.StrongU STU-U6 420.00 Gh/s 2100W X11 $1.52 Dash(DASH)
  1. Bitmain Antminer S17 Pro 56 Th/s 2212W SHA-256 $1.46 BitcoinSV(BSV)
  2. Bitmain Antminer S17 59.00 Th/s 2385W SHA-256 $1.34 BitcoinSV(BSV)
  3. Innosilicon A9 ZMaster 50.00 kh/s 620W Equihash $1.08 Pirate(ARRR)
  4. FusionSilicon X7 262.00 Gh/s 1300W X11 $1.03 Dash(DASH)
Dont forget you can find around new Firmware for example for Z9/Z11 Efudd Firmware,and Hive OS firmwares which can Overclock S9/S15/S17 or Underclock (if your electriciy fee are too expensive), for example my S17 Pro I switched to new firmware (Hive OS) to 36Th/s with 900 Watts power gives me a 2.90 usd/day profit without electricity of course, for Z11 Overclocking without changing PSU from 135 to 150-160Ko/sol.
I calculated everything on the basis of 0.15 cens Kw / h.
Brand New Miner coming out:
ASICminer Zeon Turbo 400,000 Sol/s Equihash
Most Profitable Miner in the World. ASICminer Daily Revenue: $27 $16 (less 0.15 Kw/h fee) ASICminer Power Consumption: 2500W
asicminer dot co/shop (Factory)
submitted by pushingworld77 to BitcoinMining [link] [comments]

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submitted by MULTIELECTRONICS to u/MULTIELECTRONICS [link] [comments]

Bitcoin Mining Hash Rate Plummets To 35 EH/s, Increasing Centralization Of Bitcoin Mining

Bitcoin Mining Hash Rate Plummets To 35 EH/s, Increasing Centralization Of Bitcoin Mining

https://preview.redd.it/7qe13wsg3yz11.jpg?width=600&format=pjpg&auto=webp&s=cdb3cb372c118e1bde3b75332739ab61ca868e21
http://genesisblocknews.com/bitcoin-mining-hash-rate-plummets-to-35-eh-s-increasing-centralization-of-bitcoin-mining/
The Bitcoin mining hash rate had been exponentially increasing from 2009 through August 2018, from MH/s, to GH/s, to TH/s, to PH/s, and now EH/s. The all-time record high for Bitcoin’s mining hash rate was 62 EH/s on 26 August 2018.
After that point the trend broke, and Bitcoin’s mining hash rate plateaued. This was due to a combination of two factors. First, the Bitcoin bear market brought Bitcoin’s price down from USD 20,000 to about USD 6,500, making mining much less profitable. Second, Bitcoin’s mining difficulty had been rapidly rising despite the bear market, as all the new hash power came online. The end result was there was no more room to profitably add hashing power to the Bitcoin network.
It was thought that Bitcoin’s support level was solidly at USD 5,800, but that paradigm broke when Bitcoin Cash forked, the Securities and Exchange Commission began to launch catastrophic civil penalties against initial coin offerings (ICOs), and the launch of physical Bitcoin futures on Bakkt was delayed. This trifecta of extremely bad news within 1 week has brought Bitcoin’s price down to USD 4,400.
This unexpected crash in Bitcoin’s price has been destructive for the mining industry. Many mining farms were right at the break even point, or perhaps even losing some money, but expecting Bitcoin to go up in the near future so they kept mining. Now Bitcoin’s hash rate has plummeted to 35 EH/s, implicitly indicating about 25 EH/s of Bitcoin mining rigs have been taken offline since they are no longer profitable due to electricity costs.
This represents billions of USD of Bitcoin mining equipment going to complete waste, since Bitcoin mining rigs have no real use besides mining Bitcoin. The events unfolding in the Bitcoin mining space could spell doom for mining rig manufacturers. Now the market for rigs is completely over-saturated, and any demand for rigs has probably dried up. Mining rig manufacturers could perhaps rectify this by rapidly developing cutting-edge technology, like what Bitmain did when they recently released 7 nm rigs.
Speaking of Bitmain, no matter how good their technology is, unless Bitcoin’s price rises soon they are going to experience their lowest sales numbers in history. There is a chance this will throttle their attempt at an initial public offering (IPO) on the Hong Kong Stock Exchange, and if that IPO falls apart that will send more shockwaves through the crypto space.
On a final note, Bitcoin mining supersites that cost hundreds of millions of USD have been popping up across the globe recently, and these have been forcing personal miners out of business, since the supersites are far more cost effective per unit of hash rate. The crash in Bitcoin’s mining hash rate we are seeing right now could very possibly be individual miners collectively shutting down their rigs, leaving just the supersites. This could drastically increase the centralization of the Bitcoin mining network, and therefore increase the centralization of Bitcoin itself.
GenesisBlockNews believes it is a dangerous trend for Bitcoin’s hash rate to increasingly be in the control of a select few corporations.
submitted by turtlecane to Bitcoin [link] [comments]

Decred Journal — June 2018

Note: You can read this on GitHub, Medium or old Reddit to see the 207 links.

Development

The biggest announcement of the month was the new kind of decentralized exchange proposed by @jy-p of Company 0. The Community Discussions section considers the stakeholders' response.
dcrd: Peer management and connectivity improvements. Some work for improved sighash algo. A new optimization that gives 3-4x faster serving of headers, which is great for SPV. This was another step towards multipeer parallel downloads – check this issue for a clear overview of progress and planned work for next months (and some engineering delight). As usual, codebase cleanup, improvements to error handling, test infrastructure and test coverage.
Decrediton: work towards watching only wallets, lots of bugfixes and visual design improvements. Preliminary work to integrate SPV has begun.
Politeia is live on testnet! Useful links: announcement, introduction, command line voting example, example proposal with some votes, mini-guide how to compose a proposal.
Trezor: Decred appeared in the firmware update and on Trezor website, currently for testnet only. Next steps are mainnet support and integration in wallets. For the progress of Decrediton support you can track this meta issue.
dcrdata: Continued work on Insight API support, see this meta issue for progress overview. It is important for integrations due to its popularity. Ongoing work to add charts. A big database change to improve sorting on the Address page was merged and bumped version to 3.0. Work to visualize agenda voting continues.
Ticket splitting: 11-way ticket split from last month has voted (transaction).
Ethereum support in atomicswap is progressing and welcomes more eyeballs.
decred.org: revamped Press page with dozens of added articles, and a shiny new Roadmap page.
decredinfo.com: a new Decred dashboard by lte13. Reddit announcement here.
Dev activity stats for June: 245 active PRs, 184 master commits, 25,973 added and 13,575 deleted lines spread across 8 repositories. Contributions came from 2 to 10 developers per repository. (chart)

Network

Hashrate: growth continues, the month started at 15 and ended at 44 PH/s with some wild 30% swings on the way. The peak was 53.9 PH/s.
F2Pool was the leader varying between 36% and 59% hashrate, followed by coinmine.pl holding between 18% and 29%. In response to concerns about its hashrate share, F2Pool made a statement that they will consider measures like rising the fees to prevent growing to 51%.
Staking: 30-day average ticket price is 94.7 DCR (+3.4). The price was steadily rising from 90.7 to 95.8 peaking at 98.1. Locked DCR grew from 3.68 to 3.81 million DCR, the highest value was 3.83 million corresponding to 47.87% of supply (+0.7% from previous peak).
Nodes: there are 240 public listening and 115 normal nodes per dcred.eu. Version distribution: 57% on v1.2.0 (+12%), 25% on v1.1.2 (-13%), 14% on v1.1.0 (-1%). Note: the reported count of non-listening nodes has dropped significantly due to data reset at decred.eu. It will take some time before the crawler collects more data. On top of that, there is no way to exactly count non-listening nodes. To illustrate, an alternative data source, charts.dcr.farm showed 690 reachable nodes on Jul 1.
Extraordinary event: 247361 and 247362 were two nearly full blocks. Normally blocks are 10-20 KiB, but these blocks were 374 KiB (max is 384 KiB).

ASICs

Update from Obelisk: shipping is expected in first half of July and there is non-zero chance to meet hashrate target.
Another Chinese ASIC spotted on the web: Flying Fish D18 with 340 GH/s at 180 W costing 2,200 CNY (~340 USD). (asicok.comtranslated, also on asicminervalue)
dcrASIC team posted a farewell letter. Despite having an awesome 16 nm chip design, they decided to stop the project citing the saturated mining ecosystem and low profitability for their potential customers.

Integrations

bepool.org is a new mining pool spotted on dcred.eu.
Exchange integrations:
Two OTC trading desks are now shown on decred.org exchanges page.
BitPro payment gateway added Decred and posted on Reddit. Notably, it is fully functional without javascript or cookies and does not ask for name or email, among other features.
Guarda Wallet integrated Decred. Currently only in their web wallet, but more may come in future. Notable feature is "DCR purchase with a bank card". See more details in their post or ask their representative on Reddit. Important: do your best to understand the security model before using any wallet software.

Adoption

Merchants:
BlueYard Capital announced investment in Decred and the intent to be long term supporters and to actively participate in the network's governance. In an overview post they stressed core values of the project:
There are a few other remarkable characteristics that are a testament to the DNA of the team behind Decred: there was no sale of DCR to investors, no venture funding, and no payment to exchanges to be listed – underscoring that the Decred team and contributors are all about doing the right thing for long term (as manifested in their constitution for the project).
The most encouraging thing we can see is both the quality and quantity of high calibre developers flocking to the project, in addition to a vibrant community attaching their identity to the project.
The company will be hosting an event in Berlin, see Events below.
Arbitrade is now mining Decred.

Events

Attended:
Upcoming:

Media

stakey.club: a new website by @mm:
Hey guys! I'd like to share with you my latest adventure: Stakey Club, hosted at stakey.club, is a website dedicated to Decred. I posted a few articles in Brazilian Portuguese and in English. I also translated to Portuguese some posts from the Decred Blog. I hope you like it! (slack)
@morphymore translated Placeholder's Decred Investment Thesis and Richard Red's write-up on Politeia to Chinese, while @DZ translated Decred Roadmap 2018 to Italian and Russian, and A New Kind of DEX to Italian and Russian.
Second iteration of Chinese ratings released. Compared to the first issue, Decred dropped from 26 to 29 while Bitcoin fell from 13 to 17. We (the authors) restrain ourselves commenting on this one.
Videos:
Audio:
Featured articles:
Articles:

Community Discussions

Community stats: Twitter followers 40,209 (+1,091), Reddit subscribers 8,410 (+243), Slack users 5,830 (+172), GitHub 392 stars and 918 forks of dcrd repository.
An update on our communication systems:
Jake Yocom-Piatt did an AMA on CryptoTechnology, a forum for serious crypto tech discussion. Some topics covered were Decred attack cost and resistance, voting policies, smart contracts, SPV security, DAO and DPoS.
A new kind of DEX was the subject of an extensive discussion in #general, #random, #trading channels as well as Reddit. New channel #thedex was created and attracted more than 100 people.
A frequent and fair question is how the DEX would benefit Decred. @lukebp has put it well:
Projects like these help Decred attract talent. Typically, the people that are the best at what they do aren’t driven solely by money. They want to work on interesting projects that they believe in with other talented individuals. Launching a DEX that has no trading fees, no requirement to buy a 3rd party token (including Decred), and that cuts out all middlemen is a clear demonstration of the ethos that Decred was founded on. It helps us get our name out there and attract the type of people that believe in the same mission that we do. (slack)
Another concern that it will slow down other projects was addressed by @davecgh:
The intent is for an external team to take up the mantle and build it, so it won't have any bearing on the current c0 roadmap. The important thing to keep in mind is that the goal of Decred is to have a bunch of independent teams on working on different things. (slack)
A chat about Decred fork resistance started on Twitter and continued in #trading. Community members continue to discuss the finer points of Decred's hybrid system, bringing new users up to speed and answering their questions. The key takeaway from this chat is that the Decred chain is impossible to advance without votes, and to get around that the forker needs to change the protocol in a way that would make it clearly not Decred.
"Against community governance" article was discussed on Reddit and #governance.
"The Downside of Democracy (and What it Means for Blockchain Governance)" was another article arguing against on-chain governance, discussed here.
Reddit recap: mining rig shops discussion; how centralized is Politeia; controversial debate on photos of models that yielded useful discussion on our marketing approach; analysis of a drop in number of transactions; concerns regarding project bus factor, removing central authorities, advertising and full node count – received detailed responses; an argument by insette for maximizing aggregate tx fees; coordinating network upgrades; a new "Why Decred?" thread; a question about quantum resistance with a detailed answer and a recap of current status of quantum resistant algorithms.
Chats recap: Programmatic Proof-of-Work (ProgPoW) discussion; possible hashrate of Blake-256 miners is at least ~30% higher than SHA-256d; how Decred is not vulnerable to SPV leaf/node attack.

Markets

DCR opened the month at ~$93, reached monthly high of $110, gradually dropped to the low of $58 and closed at $67. In BTC terms it was 0.0125 -> 0.0150 -> 0.0098 -> 0.0105. The downturn coincided with a global decline across the whole crypto market.
In the middle of the month Decred was noticed to be #1 in onchainfx "% down from ATH" chart and on this chart by @CoinzTrader. Towards the end of the month it dropped to #3.

Relevant External

Obelisk announced Launchpad service. The idea is to work with coin developers to design a custom, ASIC-friendly PoW algorithm together with a first batch of ASICs and distribute them among the community.
Equihash-based ZenCash was hit by a double spend attack that led to a loss of $450,000 by the exchange which was targeted.
Almost one year after collecting funds, Tezos announced a surprise identification procedure to claim tokens (non-javascript version).
A hacker broke into Syscoin's GitHub account and implanted malware stealing passwords and private keys into Windows binaries. This is a painful reminder for everybody to verify binaries after download.
Circle announced new asset listing framework for Poloniex. Relevant to recent discussions of exchange listing bribery:
Please note: we will not accept any kind of payment to list an asset.
Bithumb got hacked with a $30 m loss.
Zcash organized Zcon0, an event in Canada that focused on privacy tech and governance. An interesting insight from Keynote Panel on governance: "There is no such thing as on-chain governance".
Microsoft acquired GitHub. There was some debate about whether it is a reason to look into alternative solutions like GitLab right now. It is always a good idea to have a local copy of Decred source code, just in case.
Status update from @sumiflow on correcting DCR supply on various sites:
To begin with, none of the below sites were showing the correct supply or market cap for Decred but we've made some progress. coingecko.com, coinlib.io, cryptocompare.com, livecoinwatch.com, worldcoinindex.com - corrected! cryptoindex.co, onchainfx.com - awaiting fix coinmarketcap.com - refused to fix because devs have coins too? (slack)

About This Issue

This is the third issue of Decred Journal after April and May.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
The new public Matrix logs look promising and we hope to transition from Slack links to Matrix links. In the meantime, the way to read Slack links is explained in the previous issue.
As usual, any feedback is appreciated: please comment on Reddit, GitHub or #writers_room. Contributions are welcome too, anything from initial collection to final review to translations.
Credits (Slack names, alphabetical order): bee and Richard-Red. Special thanks to @Haon for bringing May 2018 issue to medium.
submitted by jet_user to decred [link] [comments]

Decred Journal – September 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link).

Development

Final version 1.3.0 of the core software was released bringing all the enhancements reported last month to the rest of the community. The groundwork for SPV (simplified payment verification) is complete, another reduction of fees is being deployed, and performance stepped up once again with a 50% reduction in startup time, 20% increased sync speed and more than 3x faster peer delivery of block headers (a key update for SPV). Decrediton's integrations of SPV and Politeia are open for testing by experienced users. Read the full release notes and get the downloads on GitHub. As always, don't forget to verify signatures.
dcrd: completed several steps towards multipeer downloads, improved introduction to the software in the main README, continued porting cleanups and refactoring from upstream btcd.
Currently in review are initial release of smart fee estimator and a change to UTXO set semantics. The latter is a large and important change that provides simpler handling, and resolves various issues with the previous approach. A lot of testing and careful review is needed so help is welcome.
Educational series for new Decred developers by @matheusd added two episodes: 02 Simnet Setup shows how to automate simnet management with tmux and 03 Miner Reward Invalidation explains block validity rules.
Finally, a pull request template with a list of checks was added to help guide the contributors to dcrd.
dcrwallet: bugfixes and RPC improvements to support desktop and mobile wallets.
Developers are welcome to comment on this idea to derive stakepool keys from the HD wallet seed. This would eliminate the need to backup and restore redeem scripts, thus greatly improving wallet UX. (missed in July issue)
Decrediton: bugfixes, refactoring to make the sync process more robust, new loading animations, design polishing.
Politeia: multiple improvements to the CLI client (security conscious users with more funds at risk might prefer CLI) and security hardening. A feature to deprecate or timeout proposals was identified as necessary for initial release and the work started. A privacy enhancement to not leak metadata of ticket holders was merged.
Android: update from @collins: "Second test release for dcrandroid is out. Major bugs have been fixed since last test. Latest code from SPV sync has been integrated. Once again, bug reports are welcome and issues can be opened on GitHub". Ask in #dev room for the APK to join testing.
A new security page was added that allows one to validate addresses and to sign/verify messages, similar to Decrediton's Security Center. Work on translations is beginning.
Overall the app is quite stable and accepting more testers. Next milestone is getting the test app on the app store.
iOS: the app started accepting testers last week. @macsleven: "the test version of Decred Wallet for iOS is available, we have a link for installing the app but the builds currently require your UDID. Contact either @macsleven or @raedah with your UDID if you would like to help test.".
Nearest goal is to make the app crash free.
Both mobile apps received new design themes.
dcrdata: v3.0 was released for mainnet! Highlights: charts, "merged debits" view, agendas page, Insight API support, side chain tracking, Go 1.11 support with module builds, numerous backend improvements. Full release notes here. This release featured 9 contributors and development lead @chappjc noted: "This collaboration with @raedahgroup on our own block explorer and web API for @decredproject has been super productive.".
Up next is supporting dynamic page widths site wide and deploying new visual blocks home page.
Trezor: proof of concept implementation for Trezor Model T firmware is in the works (previous work was for Model One).
Ticket splitting: updated to use Go modules and added simnet support, several fixes.
docs: beginner's guide overhaul, multiple fixes and cleanups.
decred.org: added 3rd party wallets, removed inactive PoW pools and removed web wallet.
@Richard-Red is building a curated list of Decred-related GitHub repositories.
Welcome to new people contributing for the first time: @klebe, @s_ben, @victorguedes, and PrimeDominus!
Dev activity stats for September: 219 active PRs, 197 commits, 28.7k added and 18.8k deleted lines spread across 6 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: started and ended the month around 75 PH/s, hitting a low of 60.5 and a new high of 110 PH/s. BeePool is again the leader with their share varying between 23-54%, followed by F2Pool 13-30%, Coinmine 4-6% and Luxor 3-5%. As in previous months, there were multiple spikes of unidentified hashrate.
Staking: 30-day average ticket price is 98 DCR (+2.4). The price varied between 95.7 and 101.9 DCR. Locked DCR amount was 3.86-3.96 million DCR, or 45.7-46.5% of the supply.
Nodes: there are 201 public listening nodes and 325 normal nodes per dcred.eu. Version distribution: 5% are v1.4.0(pre) dev builds (+3%), 30% on v1.3.0 (+25%), 42% on v1.2.0 (-20%), 15% on v1.1.2 (-7%), 6% on v1.1.0. More than 76% of nodes run v1.2.0 and higher and therefore support client filters. Data as of Oct 1.

ASICs

Obelisk posted two updates on their mailing list. 70% of Batch 1 units are shipped, an extensive user guide is available, Obelisk Scanner application was released that allows one to automatically update firmware. First firmware update was released and bumped SC1 hashrate by 10-20%, added new pools and fixed multiple bugs. Next update will focus on DCR1. It is worth a special mention that the firmware source code is now open! Let us hope more manufacturers will follow this example.
A few details about Whatsminer surfaced this month. The manufacturer is MicroBT, also known as Bitwei and commonly misspelled as Bitewei. Pangolinminer is a reseller, and the model name is Whatsminer D1.
Bitmain has finally entered Decred ASIC space with their Antminer DR3. Hash rate is 7.8 TH/s while pulling 1410 W, at the price of $673. These specs mean it has the best GH/W and GH/USD of currently sold miners until the Whatsminer or others come out, although its GH/USD of 11.6 already competes with Whatsminer's 10.5. Discussed on Reddit and bitcointalk, unboxing video here.

Integrations

Meet our 17th voting service provider: decredvoting.com. It is operated by @david, has 2% fee and supports ticket splitting. Reddit thread is here.
For a historical note, the first VSP to support ticket splitting was decredbrasil.com:
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)
KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks.
Three more wallets integrated Decred in September:
ChangeNow announced Decred addition to their Android app that allows accountless swaps between 150+ assets.
Coinbase launched informational asset pages for top 50 coins by market cap, including Decred. First the pages started showing in the Coinbase app for a small group of testers, and later the web price dashboard went live.

Adoption

The birth of a Brazilian girl was registered on the Decred blockchain using OriginalMy, a blockchain proof of authenticity services provider. Read the full story in Portuguese and in English.

Marketing

Advertising report for September is ready. Next month the graphics for all the ads will be changing.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed.
Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)

Events

Attended:
Upcoming:
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)

Media

August issue of Decred Journal was translated to Russian. Many thanks to @DZ!
Rency cryptocurrency ratings published a report on Decred and incorporated a lot of feedback from the community on Reddit.
September issue of Chinese CCID ratings was published (snapshot), Decred is still at the bottom.
Videos:
Featured articles:
Articles:

Community Discussions

Community stats:
Comm systems news: Several work channels were migrated to Matrix, #writers_room is finally bridged.
Highlights:
Twitter: why decentralized governance and funding are necessary for network survival and the power of controlling the narrative; learning about governance more broadly by watching its evolution in cryptocurrency space, importance of community consensus and communications infrastructure.
Reddit: yet another strong pitch by @solar; question about buyer protections; dcrtime internals; a proposal to sponsor hoodies in the University of Cape Town; Lightning Network support for altcoins.
Chats: skills to operate a stakepool; voting details: 2 of 3 votes can approve a block, what votes really approve are regular tx, etc; scriptless script atomic swaps using Schnorr adaptor signatures; dev dashboard, choosing work, people do best when working on what interests them most; opportunities for governments and enterprise for anchoring legal data to blockchain; terminology: DAO vs DAE; human-friendly payments, sharing xpub vs payment protocols; funding btcsuite development; Politeia vote types: approval vote, sentiment vote and a defund vote, also linking proposals and financial statements; algo trading and programming languages (yes, on #trading!); alternative implementation, C/C++/Go/Rust; HFTs, algo trading, fake volume and slippage; offline wallets, usb/write-only media/optical scanners vs auditing traffic between dcrd and dcrwallet; Proof of Activity did not inspire Decred but spurred Decred to get moving, Wikipedia page hurdles; how stakeholders could veto blocks; how many votes are needed to approve a proposal; why Decrediton uses Electron; CVE-2018-17144 and over-dependence on single Bitcoin implementation, btcsuite, fuzz testing; tracking proposal progress after voting and funding; why the wallet does not store the seed at all; power connectors, electricity, wiring and fire safety; reasonable spendings from project fund; ways to measure sync progress better than block height; using Politeia without email address; concurrency in Go, locks vs channels.
#support is not often mentioned, but it must be noted that every day on this channel people get high quality support. (@bee: To my surprise, even those poor souls running Windows 10. My greatest respect to the support team!)

Markets

In September DCR was trading in the range of USD 34-45 / BTC 0.0054-0.0063. On Sep 6, DCR revisited the bottom of USD 34 / BTC 0.0054 when BTC quickly dropped from USD 7,300 to 6,400. On Sep 14, a small price rise coincided with both the start of KuCoin trading and hashrate spike to 104 PH/s. Looking at coinmarketcap charts, the trading volume is a bit lower than in July and August.
As of Oct 4, Decred is #18 by the number of daily transactions with 3,200 tx, and #9 by the USD value of daily issuance with $230k. (source: onchainfx)
Interesting observation by @ImacallyouJawdy: while we sit at 2018 price lows the amount locked in tickets is testing 2018 high.

Relevant External

ASIC for Lyra2REv2 was spotted on the web. Vertcoin team is preparing a new PoW algorithm. This would be the 3rd fork after two previous forks to change the algorithm in 2014 and 2015.
A report titled The Positive Externalities of Bitcoin Mining discusses the benefits of PoW mining that are often overlooked by the critics of its energy use.
A Brief Study of Cryptonetwork Forks by Alex Evans of Placeholder studies the behavior of users, developers and miners after the fork, and makes the cases that it is hard for child chains to attract users and developers from their parent chains.
New research on private atomic swaps: the paper "Anonymous Atomic Swaps Using Homomorphic Hashing" attempts to break the public link between two transactions. (bitcointalk, decred)
On Sep 18 Poloniex announced delisting of 8 more assets. That day they took a 12-80% dive showing their dependence on this one exchange.
Circle introduced USDC markets on Poloniex: "USDC is a fully collateralized US dollar stablecoin using the ERC-20 standard that provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors.".
Coinbase announced new asset listing process and is accepting submissions on their listing portal. (decred)
The New York State Office of the Attorney General posted a study of 13 exchanges that contains many insights.
A critical vulnerability was discovered and fixed in Bitcoin Core. Few days later a full disclosure was posted revealing the severity of the bug. In a bitcointalk thread btcd was called 'amateur' despite not being vulnerable, and some Core developers voiced their concerns about multiple implementations. The Bitcoin Unlimited developer who found the bug shared his perspective in a blog post. Decred's vision so far is that more full node implementations is a strength, just like for any Internet protocol.

About This Issue

This is the 6th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are also welcome: some areas are adding content, pre-release review or translations to other languages.
Credits (Slack names, alphabetical order): bee, Dustorf, jz, Haon, oregonisaac, raedah and Richard-Red.
submitted by jet_user to decred [link] [comments]

Ethereum Is Going To Decimate Itself In A Month

Ethereum Is Going To Decimate Itself In A Month

https://preview.redd.it/bbrpagmuao321.png?width=540&format=png&auto=webp&s=1edadd747a0961cfb3297102422f9b1b3423a043
http://genesisblocknews.com/ethereum-is-going-to-decimate-itself-in-a-month/
At GenesisBlockNews we love to roast shitcoins in nuclear hellfire, but Ethereum is not a shitcoin. I actually like Ethereum. Its smart contract capabilities, ease of creating tokens, and streamlined integration into Firefox via MetaMask are all really cool and useful. However, it saddens me to see Ethereum walking down the plank towards an obvious suicide. The Ethereum developers are preparing to get rid of their miners. They are ‘softening’ the transition from Proof of Work (PoW) to Proof of Stake (PoS) via kicking their miners in the nuts, by slashing block rewards from 3 Ether to 2 Ether, and blocking ASICs via ProgPoW.
If the Ethereum developers really want to get rid of the miners that secure their network, they shouldn’t kick their miners in the nuts and then expect everything to run smoothly until PoS is implemented. They should just implement PoS instantly without a transition, even though it is an awful decision to get rid of the mining community.
These miners are going to be angry. Already the miners feel robbed, before anything has happened, since Ethereum has declined from USD 1,400 to less than USD 90, ruining mining profitability. Miners are dumping their rigs for scrap metal. A pawn shop probably would give miners $2, enough to buy a pack of clippers, for the best Ethereum mining rig, since all Ethereum rigs are unprofitable. The mining hash rate has declined from 300,000 GH/s to 175,000 GH/s, and it is a miracle it is still that high.
So a bunch of miners that already feel very pissed off are about to have block rewards slashed by 1/3. The most idiotic thing about the fork is the banning of ASIC miners via ProgPoW. Most of Ethereum’s hash rate is ASICs, and these ASIC miners will probably all split off and make a new version of Ethereum. They have nothing to lose by doing this, their survival depends on it actually.
Satoshi Nakamoto knows that miners are the lifeblood of a cryptocurrency, and he designed Bitcoin around the mining aspect. Ethereum is about to slit its wrists and drain all of its lifeblood. Ethereum is already at USD 88, about a month before the fork. An internal war in the Ethereum community, plus the devastating loss of its mining community when the fork happens, could turn Ethereum into a single digit shitcoin. Arthur Hayes is perhaps infamous for saying Ethereum will be a double digit shitcoin, back when it was USD 300, and he has verified, but he did not expect single digits. It could easily happen, and the Ethereum war could be more violent than the Bitcoin Cash war.
submitted by turtlecane to CryptoCurrency [link] [comments]

"Bitcoin consumes more energy than [insert country here]", "Bitcoin is DESTROYING the planet", "Bitcoin could cost us our green future" A deeper look into bullshit.

As you might have noticed there has been an explosion of mainstream media article about Bitcoin's energy consumption. I won't link these crap but here are the titles:
So what is the info? Where does it come from? How did they come up with it? Is it true?
What is the info
Wrapped in sensationalism, the info is the following:
energy consumption of the bitcoin network, which is responsible for verifying transactions made with the cryptocurrency, is 30.14TWh a year
Where does it come from
Following direct links, or going through endless source circle of newspaper quoting one another, the source for absolutely all of these news article is the following website:
https://digiconomist.net/bitcoin-energy-consumption
The about section contains the following:
Digiconomist is a platform that provides in-depth analysis, opinions and discussions with regard to Bitcoin and other cryptocurrencies. The goal of Digiconomist is to cover any relevant financial, economic or regulatory cryptocurrency-related topic.
Additionally a quick look at the website shows a few things: 1. The website only talks about ETH and BTC 2. Outside of the blog posts it almost only talks about energy consumption (there is an ETH obituaries) 3. Blog posts started in march 2014 4. The domain was registered the 2014-07-03 5. No address, no country, no name, no foundation, no agency... Who are they?
Disregarding the fact that it comes from a no name website the, info is right there with a nice graph and even a methodology explained with a pretty infochart. It almost looks to good for a blog about cryptos. How did the Bloomberg, ars technica and the like found this website? I do not know, but when they did a ready to use report for newspaper was there waiting for them. Also, the graph as an url embedded at the bottom: "bitcoinenergyconsumption.com" which interestingly enough is a redirect for Digiconomist.
Also the bottom of the page on consumption has a list of news articles referring to this website for their sensationalist claims.
How did they come up with it
So as I said the methodology is there, and the result of it is there too:
Bitcoin's current estimated annual electricity consumption* (TWh) 32.53
So let's dive into the methodology on a step by step process, first of all, a further detailed methodology is shown here
  1. First, calculate the "Annualized global mining revenues (USD)", the website says: $13,487,831,695 As of this writing, on fork.lol, the reward for BTC is around r = 240 000 USD per block. r * 6 * 24 * 365 = 12 614 400 000. This is the same order of magnitude, but not good enough. Including the BCH reward as well (17 639 as we speak) gives : C = 13 541 505 840 USD. Seems about right.
  2. Calculate the mining operating cost "Annualized estimated global mining costs" : $1,626,480,051 This is easy, it is simply 60% of the previous number C * 0.6 = 8 124 903 504 USD ??? Ok this is weird, their number is not even 60%, it is more like 12%. So where is that number coming from?? Turns out this 60% assumption is not used at all in the calculation...
  3. Disregard the previous step
  4. Calculate the current total hashrate on the network: 14.12 ExaHashes/s at the time of these lines
  5. Assume the following:
Since the marginal product of mining is equal to the number of Bitcoins received per unit of mining effort, it would thus be expected that miners will either add more hashrate if the resulting revenue exceeds associated electricity costs, or reduce the hashrate once electricity costs start exceeding the revenue per hash. This also means that it is expected that the total network of Bitcoin miners is always mining at the calculate-able break-even efficiency. The break-even efficiency for Bitcoin mining can simply be calculated as:
W per GH/s=(price∙BTC/day)/(price per kWh ∙ 24hrday)
In layman terms, this means that they assume that the number of miners is always the exact amount for break even. This is a fair assumption. The formula that follows it make no sense without the context it came with in that working paper. A quick look at this document shows concerning mathematical mistakes... I have tried for far too long, I cannot reproduce any of their numbers...
So is it true? No
These numbers are not reproducible, they make no sense and calculated using a dubious paper by some professor of "social research". I assume he is also the owner of the website because his name appears way too often in there...The university where he studies has a nice wikipedia page:
The New School is a private non-profit research university centered in Manhattan, New York City, USA, located mostly in Greenwich Village. It was founded in 1919 as an institution dedicated to academic freedom and intellectual inquiry, serving as a home for progressive thinkers.
The real estimation
This is actually pretty straight forward. The maximum ever reached in hash rate was 16.5 exahashes/s according to fork.lol.
This is equivalent to 1.18 million S9 ant miner at 14 TH/s. Assuming everyone suck and they all have old hardware with crappy PSU. Let's say each S9 consumes 2000W. This is a 17520000 Wh per year per miner, which yields 20.67 TWh.
So peak production with very negatives assumptions yields a number 40% lower...
General critic
Deriving consumption from the mining revenue is purely ludicrous.
No including the fees in the mining revenue calculation is also ludicrous.
If your numbers are not reproducible, they are worthless.
submitted by Azeroth7 to btc [link] [comments]

0xBitcoin General - Weeks 37 and 38, 2018

Time has flown by, and it's time for another short summary.

Some general stats (and changes since last time):
Mining difficulty: 864,881,523 (0.00%) (next: ~698,329,853) (+2.70%)​
Estimated hashrate: 697.62 Gh/s (+11.52%)
Rewards until readjustment: 270 (-52.29%) (~16.2 days) (-59.46%)
Current average reward time: 86.67 minutes (-10.40%)
Tokens minted: 3,007,250 0xBTC (+0.49%)
Token holders: 4356 holders (+0.57%)
Total contract operations: 185081 txs (+0.26%)
Source: https://0x1d00ffff.github.io/0xBTC-Stats/?page=stats&#

Tokens required to be a top holder (and changes since last time):
Top 10: 35486.89301407 0xBTC (0.00%)
Top 25: 19500 0xBTC (-2.96%)
Top 50: 12550 0xBTC (+0.49%)
Top 100: 6626.43 0xBTC (+10.45%)
Top 200: 2799.08946054 0xBTC (+10.45%)
Top 300: 1453.24253492 0xBTC (+7.78%)
Top 500: 585.21591206 0xBTC (+7.33%)​
Top 1000: 150 0xBTC (+3.44%)
Source: https://etherscan.io/token/0xb6ed7644c69416d67b522e20bc294a9a9b405b31#balances

If one were to market buy all the tokens available (24,044 0xBTC) on the most popular exchange (Mercatox), then that would cost them 116.2 ETH, which is currently $22,775, and make them the top 20 holder. Extreme outliers (price per 0xBTC above 0.1 ETH, which is currently $19.6) excluded.
Source: https://mercatox.com/exchange/0xBTC/ETH

Some general stuff that's been happening lately:
  1. Userbrn's community fund reached 0.1 BTC and the application was submitted to list on YoBit. There hasn't been any feedback from the exchange yet, hopefully some new information surfaces over the course of the week.
  2. User dave牟 talked about an upcoming DEX, which will have 0xBTC as one of its main trading pairs. From the Discord: "By the way my project received 1000ETH in angel funding /.../ we will have trading pairs in ETH, DAI and 0xBTC it will be online in about 3 months. We also have an interesting “gameified” listing process that is kind of like fomo3d."
  3. Ethereum core developers decided to cut block rewards from 3 ETH to 2 ETH with the upcoming Constantinople hard fork in late October. This just goes to show how opaque and mutable Ether's monetary policy is.
  4. Talking about ETH - its price has been in a total trashfire for the last few weeks. Several high-profile articles have said that the pump to $1,400 was completely artificial and only driven by ICO's, a large part of which are slowly beginning to crash and burn. It's only a matter of time before people begin searching for an Ethereum-compatible store of value, and those people will find 0xBTC already waiting for them. The article that spurred most of the recent debate: https://techcrunch.com/2018/09/02/the-collapse-of-eth-is-inevitable/amp/
  5. When replying to the above article, Vitalik described a new possible way of transacting tokens on the Ethereum network: "One could also use intermediate solutions, where third parties create "wrapper transactions" that take the fees for operations from users that are paid in spankchain tokens, and the third parties provide the ETH to the block proposer". This is exactly the idea behind LavaWallet, and the comment caused the price of 0xBTC to spike over a 100%.
  6. User MyCryptoDad had a meeting with a crypto influencer, whom he advertised 0xBTC to. After the meeting, he said: "Came back from the Meetup with the influencer, he and the rest of the crew never heard of it. Good and bad, good that we are under the radar to accumulate, bad because we might be too under the radar. They seemed interested in the details behind it like fair distribution, the founder is mining on a 1060, no airdrop etc... Other good news to come out I was invited to their telegram group and meetups. The influencer also said he'd be willing to work with me on an idea. I'll be seeing these people a bit more. I'm telling everyone here because I believe in this project (0xBitcoin) and I want to see us succeed as organically as possible. I'll keep spreading the good word." I guess we'll just have to wait and see what comes of it.
  7. Mr Fahrenheit released "Wheel of 0xBitcoin", the first dapp built specifically for 0xBTC. It's basically a decentralized way to gamble, you can be sure that the odds aren't rigged against you and it doesn't serve only to enrich its creators. When the house wins, then the prize doesn't go to the creator, but to the smart contract, which then pays winners out of the fund. You can also keep the money in the contract without gambling, in which case you will be gaining money when people gamble and lose (but also losing money, when they gamble and win). The developers receive money in the form of a 3% deposit fee. http://wheelof0xbitcoin.io/
  8. Lieutenant Tofu developed a miner that has multi-GPU support, among other improvements. https://www.reddit.com/0xbitcoin/comments/9e1ziv/miner_cosmic_v41t_multigpu_for_windows_x64cuda/
  9. The 0xBitcoin Foundation is making steady progress and is in the final stages of launching. The most recent update was published just 2 days ago: https://www.reddit.com/0xbitcoin/comments/9dzl7w/0xbitcoin_foundation_update/
As always, feel free to add anything you think I missed in the comments.
submitted by MoonMission1001 to 0xbitcoin [link] [comments]

Ethereum Classic (ETC) Hit With 51 Percent Attack A Week Before Ethereum (ETH) Constantinople Hard Fork

Ethereum Classic (ETC) Hit With 51 Percent Attack A Week Before Ethereum (ETH) Constantinople Hard Fork

https://preview.redd.it/qu86p61t93921.png?width=500&format=png&auto=webp&s=201826ba78a0aa62c9ada0abc7f5270223bde559
https://cryptoiq.co/ethereum-classic-etc-hit-with-51-percent-attack-a-week-before-ethereum-eth-constantinople-hard-fork/
Ethereum Classic (ETC), which is listed on Coinbase and ranked number 17 on CoinMarketCap with a market cap near $550 million, has been hit with a 51 percent attack. The attack appears to have occurred from 9 p.m. Jan. 6 to just after midnight on Jan. 7 and resulted in a blockchain reorganization hundreds of blocks deep. This news is just breaking now, and ETC’s price is down 7 percent, shaving $40 million off its market cap.

https://preview.redd.it/rxshjspv93921.png?width=300&format=png&auto=webp&s=ba6135f78d1f23ec92998617b6359464e4d757c6
The number of double spends during this 51 percent attack, if any, is unknown at this time. It is recommended to wait for 400 plus confirmations before accepting any Ethereum Classic (ETC) transaction.

https://preview.redd.it/celpuhbx93921.png?width=300&format=png&auto=webp&s=5aa4496802793f35d46932339f1238de870b06bc
This 51 percent attack on Ethereum Classic comes a little over a month after the dev team which maintained the main ETC client walked out due to lack of funding.

https://preview.redd.it/nb5kw41z93921.png?width=300&format=png&auto=webp&s=dc5d367d1664a0bd9e08faa44ab7028a2bda51e7
There is no obvious linkage between the primary dev team walking out and this 51 percent attack; however, Ethereum Classic (ETC) appears to be in dire straits. A 51 percent attack is enough to ruin the reputation of any cryptocurrency since it makes users lose confidence that a cryptocurrency is immutable and secure. The primary dev team walking out around the same time adds insult to injury.
Community Outcry For ProgPoW To Block ASICs
Ethereum’s (ETH) Constantinople hard fork is scheduled to occur in about a week, and one of the key points of contention during the fork is that mining rewards will be slashed from three Ether to two. Also, the Ethereum developers are considering including ProgPoW in the fork, which would block ASIC miners.
It seems this 51 percent attack on Ethereum Classic is being used as justification to implement ProgPoW for both Ethereum (ETH) and Ethereum Classic (ETC). The 51 percent attack is being blamed on new 1.4 GH/s ASIC ETHash rigs although this is just speculation and not confirmed.

https://preview.redd.it/3l7n5552a3921.png?width=300&format=png&auto=webp&s=4c7ea69f73d23d0c3a78386812af67863d1d7d2d
Ethereum (ETH) and Ethereum Classic (ETC) users are crying out for an immediate block of ASIC miners, saying this 51 percent attack is proof that blocking ASICs with ProgPoW is urgent.

https://preview.redd.it/86ebwu34a3921.png?width=300&format=png&auto=webp&s=bb3e8f1533c1357bd709eb9f499e14c66e9afa81
https://preview.redd.it/xrm4fv65a3921.png?width=300&format=png&auto=webp&s=bb03e111ccd5253c5165df7c76e7f5f7144646d5
https://preview.redd.it/tlr0ted6a3921.png?width=300&format=png&auto=webp&s=b7172efc0eaa7b32c88b49a73547063bb5ff9499
The timing of this 51 percent attack on Ethereum Classic (ETC), a week before the Ethereum (ETH) Constantinople hard fork, is interesting. There is still enough time to block ASIC miners by including ProgPoW in the fork if there is a big enough outcry from the community.
Ethereum (ETH) miners are left in a poor situation. Not only are block rewards being slashed, but ASICs also may be blocked with ProgPoW due to this 51 percent attack on Ethereum Classic (ETC). Now, Ethereum (ETH) miners who use ASICs have no good mining alternative since Ethereum Classic (ETC) was probably the best alternative in the event that Ethereum (ETH) blocks ASICs. It seems probable that Ethereum Classic (ETC) will implement ProgPoW as well, so it will no longer be an alternative for ASIC miners.
CryptoIQ speculated about 1 month ago that the Ethereum Constantinople hard fork could lead to a new version of Ethereum that is favorable for miners, possibly resulting in a similar situation to the “Bitcoin Cash War” in November 2018. The increased pressure to block ASICs following the Ethereum Classic (ETC) 51 percent attack combined with ETC likely implementing ProgPoW as well perhaps increases the likelihood that a completely new version of Ethereum will form when Constantinople arrives.
submitted by turtlecane to CryptoCurrency [link] [comments]

Minted our first bitcoin this morning! Took about 18 hours (Butterfly Labs Mini Rig SC 500 GH/s)

http://i.imgur.com/LvDPIjY.png
We're using the Butterfly Labs 500 GH/s Mini Rig.
Might as well do a small review -- the hardware itself is temperamental. For example, ours showed up with the unresponsive Nexus tablet on the front panel. Dealing with Butterfly is a total shit sandwich given the rip-and-run state of the overall business, so I had to figure out how to bypass the internal routing and have a laptop be the brains of the operation.
After a couple of days of messing with usb drivers, which refused to stand up on Windows 7, I finally got the laptop to recognize all 8 modules. However, I could not start mining due to an error starting the bfg miner task from the inside of their Easy Miner application. I tried to force bfg via the command line, and it finally worked, although the hash rate was atrocious.
Another day or so, and I had the rig mining. The hardware recognition issue was due to me not giving the laptop enough time to kick ALL modules on. It takes a good 2-3 minutes for all usb notifications to stop bleep-blooping. The hash rate was in the 470 GH/s area, which was perfect, but then the modules started to shut themselves off due to overheating at 83 C. The log would show how the unit was taking down hot modules and then kicking them back on non-stop. The ambient temp in the room is around 75. I played with positioning, fan speeds, to no avail. The hash rate at that point dropped into the 400s, and my 15 amp circuit breakers started to get tripped. This went on for a little, and then I permanently blew one of them and had to pick some up at the Home Depot. But hey, it only took a single trip :)
So then I got a 5200 BTU A/C unit, mounted it in the window, and positioned the rig in front of it. That seemed to fix the breaker-tripping and overheating issues. It runs at low 70s C during the day and low 60s C at night. I am now making custom funnels out of thermal foam board to vent exhaust heat outside and also connect the 11" AC opening to the 16"x16" intake area of the rig (looks something like this). The unit generates a lot of heat, no joke. I bet when the weather gets colder, it can serve as a furnace for this side of the house. If you're wondering why I'm talking about it still not being cold outside in November, I'm in Texas. It's really beautiful right now, high of 75 and sunny.
Also, the noise ... how could I forget about the noise. It sounds like a server room. There's 18 fans, plus PSU fans, and they are quite loud. Don't expect to inconspicuously set this rig in the corner of your living room.
It's been on for over 24 hours now, uninterrupted. To the moon!
Timestamp,Core Temp,AC ON/OFF,Total Mined (BTC)
11/1/2013 12:00 PM,80 C,OFF,0.00
11/3/2013 3:30 PM,73 C,OFF,1.78
11/4/2013 2:05 PM,75 C,ON,2.28
11/5/2013 11:00 AM,75 C,ON,2.74
11/6/2013 5:00 PM,70 C,OFF,3.18
11/7/2013 12:00 PM,79 C,OFF,3.53
11/8/2013 5:00 PM,70 C,OFF,4.03
11/13/2013 11:00 PM,68 C,OFF,6.01
11/18/2013 5:00 PM,78 C,OFF,7.69
11/23/2013 11:00 AM,66 C,OFF,9.21
11/26/2013 8:00 PM, 62 C,OFF,10.41
submitted by ironmine to Bitcoin [link] [comments]

Mining Manufacturers: Bankruptcies Coming?

I would suggest that the big manufacturers are under increasing pressure from suppliers to pay up for production. My thoughts:
1) While prices for miners slowly fall, they have not nearly kept up to difficulty or the price of bitcoin.
2) Some large miners have stopped selling to consumers, suggesting that they cannot produce them at a price where consumers would buy them. (I would point to KNC in particular. I don't buy that they can't be bothered to sell to consumers. Either it is profitable or it isn't.)
3) Manufacturing is always on credit, and I would suggest that the KNCs, Bitmains, Spondoolies and others of the world can't sell much below current prices because suppliers are secured creditors, and generally more liquid, and so tend to be more patient when it comes to selling assets to ensure best pay back. (These suppliers also wouldn't know the bitcoin world, and would expect they could wait 6 months to slowly sell gear.)
4) Large financing rounds for mining companies have completely stopped. I hear from reliable sources that at least one of the large reported equity deals actually quietly fell apart on the back end as the price of bitcoin eroded since the summer.
5) The steady progression of new chips has really slowed down, and talk in the summer of new chips in January 2015 has completely vanished.
6) There have been rumours that KNC started lay offs, although I haven't seen confirmation of that.
Edit: 7) Back of the envelope. At $282 per bitcoin, 1TH, 0.7 W/GH and 5 cents/kwh all-in hosting (which is to say cheaper than actually available), 1/4 of your revenue goes to hosting, next week after the rise in difficulty it will be nearly 1/3. Even their mega-farm mines are going to be hurting very soon.
We'll see one of the big guys collapse in 2015 if the price doesn't recover over $400-500 soon.
2nd Edit: Cointerra is insolvent But I meant an even bigger player would go down, like KNC or Spondoolies.
submitted by AYJackson to BitcoinMarkets [link] [comments]

[Serious] Should I buy a Black Widow Scrypt ASIC?

I've really been considering buying a Black Widow for a few days now. I have been around digital currencies since November, so I'm not completely ignorant when it comes to the subject. Honestly, the only reason I am slightly hesitant is because of when I first started.
I did not do any research when I bought my first ASIC back in November. I somehow stumbled upon ButterFlyLabs and saw their 25 GH/s miner. I pretty much said to myself, "Ohh! Moneybox!" and bought it. I had no clue about difficulty or how Bitcoin worked. After like a month and a half, I was puzzled as to why my payouts were decreasing. I then actually started to read about Bitcoin and what it really is.
I spent about $1,300 (because of shipping), and got a return of about $680. Nearly half of my return was from selling it to a friend for $360. I am really nervous that if I buy a Black Widow, the same thing will happen again. Besides, when KnC Miners ships out their 400 mh/s devices, I will be left in the dust.
My ROI would be about 3 months if I was to follow through. Do you guys think the difficulty will sustain for me to break even? A big reason why I want to buy it is because I think I'm getting in somewhat early with the Scrypt ASIC stage. If so, I could grow my operation exponentially if I play my cards right. Please be honest and insightful here, I'm 100% open to your opinions, suggestions, and criticisms.
Let this serve as not only a guide to myself, but to any fellow shibe who is interested in getting into the mining scene. Don't be naive like I was and kiss your hard earned money away.
submitted by Koo5ha to dogecoin [link] [comments]

Slush vs Antpool..and some random noob stuff

Hey all,
Im a rookie miner; got my first Antminer S3 on eBay about 2 weeks ago and since then I have acquires 3 more S3's and two S3+'s.
Power in my area is $0.10/kWh for first 300 KWh and drops to ~ $0.055 for the next 700KWh, and anything after that is ~$0.044 per KWh. I live about 20 miles from a bunch of wind power generators.
Running the six miners and a box fan 24/7 will cost ~$80 per month so I expect to make a profit, not to mention the heat the miners generate will offset some of the heat cost this fall/winter, but it's a fun hobby nonetheless... I digress..
My main question/comment is I noticed running the miners on antpool would yeild about 0.017 BTC per day, but the total hash rate on antpool averaged about 1.6 TH/s. I couldn't get my miners to maintain a hash rate of 400 GH/s for any sustainable amount of time. It was also common for a miner to drop to ~50 GH/s and rise to above 600 GH/s within a half hour. It was like this for all of the miners.
After 5 or so days of this I switched to bitcoin.cz slush pool and I am getting a steady rate around 2.5 TH/s.
Any insight into this? I searched around and couldn't find any definitive answers other than people recommending not to mine in pools based in China. This is just kind of a ramble, but any comments or constructive criticism would be much appreciated. Thanks!
submitted by Dabblin to BitcoinMining [link] [comments]

When are we going to tackle the environmental issue of Bitcoin?

Firstly, let me state I'm a proponent of Bitcoins although I still think it has a lot of maturing to do (and any honest supporter should agree), but I see in the future a 400 pound gorilla in the room, and that is the electrical (read: natural resources) consumption of the network.
We are now reaching unprecedented levels of mining power in the network, around 7 Petahashes by the end of this year and growing. This network consumes energy and converts it into Bitcoin (as well as processing transactions).
The network cannot survive without power. This power comes at a cost, not just financially, but in terms of the cost of getting a lump of coal into a coin, there's a high social cost attached to this as well.
I'm wondering if we can produce some hard figures on how much energy the network consumes, what this costs in terms of pure watts, and the environmental impact of the network?
We as a community need to do this. We need to prepared for when the question is asked, and we need to be able to address/rationalise this.
It's worth noting that next gen miners are producing more GHs for cheaper, which is fantastic in terms of addressing this issue, but it's only a matter of time before some environmental group weighs in on the issue and starts asking questions.
It's better we already have the answers, rather than some wild assumptions being made and publicised to the masses.
Thoughts?
submitted by DoctorDbx to Bitcoin [link] [comments]

Bitcoin Mining Primer

I have been helping a friend develop business strategies at a Bitcoin start-up over the last few months. In the course of this work, the topic of Bitcoin mining appears often to be fraught with misinformation and uncertainty, especially for individual miners who unfortunately may find it difficult to return an adequate profit in many cases. This informal guide covers some important issues prospective miners should consider to avoid headaches and financial loss. The information is derived from experience deploying a 400 TH/s system scheduled to come online in around December. Opinions are my own; I’m happy to entertain constructive feedback.
This year, the Bitcoin network will award miners nearly USD 500 million, at the current price of USD 375 per bitcoin, to participate in a process known as mining. Unsurprisingly, this has attracted significant interest not only from Bitcoin advocates, but from speculators and investors as well. Regardless of one’s motivations, the business of Bitcoin mining must ultimately be profitable, or at least operationally viable, if there is to be any chance of success.
HOME MINING
Acquiring and personally managing ASIC miners is probably the most fulfilling way to mine bitcoins. It provides the greatest level of transparency, but requires a certain level of technical proficiency to set up and run.
Advantages:
1) No hosting fees payable
2) Full control of operating parameters
3) Direct payment from mining pool
Disadvantages:
1) Purchasing the latest mining hardware is inherently risky because the ongoing development of energy-efficient ASIC chips requires expertise, time and millions of dollars. R&D is usually funded by customer prepayments with no guarantee of timeliness or success. It is not uncommon for miners to incur financial loss and opportunity costs when a supplier fails to deliver
2) The retail price of hardware is typically marked up anywhere from 25% to 500%, or more, depending on market conditions. This creates a barrier to profitability, making it harder for miners to recoup hardware costs if they are unable to negotiate for volume discounts
3) Shipping fees and import tariffs can cost hundreds of dollars per unit, especially if importing equipment from overseas. This adds to the cost of hardware and must be taken into account when calculating the return on investment
4) Shipping time varies greatly. Each day spent in transit incurs an opportunity cost
5) Miners need to set aside space, usually in the home, to locate mining equipment
6) Many mining units may generate excessive noise, and heat that requires around the clock ventilation to maintain an optimal operating temperature range
7) The average mining unit draws up to three amps of current. A system containing twenty units could easily exceed the power limit in a typical home
8) Electricity is by far the largest expense in any mining operation, making up around 90 percent of operating costs. If the price of residential power is materially higher than the rate paid by commercial operators, it makes home mining uncompetitive
CLOUD MINING
Buying into a cloud mining service is often marketed as a convenient and hassle-free way to get in on Bitcoin mining. As the mining assets are managed by an intermediary, getting a breakdown of operating costs prior to purchase often proves difficult. This makes it challenging for potential customers to make a fully informed buying decision. The unspoken truth is that some cloud miners incorporate obsolete equipment—cheap miners from previous generations or liquidated, unprofitable hardware—into their cloud to sell to unsuspecting customers. Older mining units can consume 80% more power than the current generation miners, leaving very little profit for the customer. In addition to the acquisition price, those in the market for cloud mining should consider the power consumption of the cloud on offer, including changes over time as new mining units are added to increase total capacity.
Advantages:
1) Start earning immediately. No waiting weeks or months for equipment delivery, installation and set up
2) Convenient and fully managed mining service means customer needs not be technically inclined or involved in day-to-day operations
3) Professional hosting service ensures optimal performance and low operating costs. Commercial hosts may be able to purchase electricity for a materially lower cost than residential customers
4) Acquisition price is often reasonable. Sometimes, possibly, too good to be true
5) Some platforms allow miners to sell their assets to other traders
Disadvantages:
1) Not all hashing power is comparable. For the same acquisition cost, more energy-efficient miners are better because they use less power and return higher profits. When buying hashing power from a cloud, the buyer should ensure he is not getting obsolete hardware. Often this is not possible to verify without a basic understanding of the costs involved, however subpar earnings is a good indication that further investigation is required
2) Hosting and cloud management fees are typically payable. Sometimes there is little transparency in pricing, resulting in unexpected cost to the customer
3) Miner has little input into how the cloud is managed
COSTS BREAKDOWN
The amount of money earned from Bitcoin mining over a short period of time, say one week, is fairly easy to calculate. Given mining is a zero-sum game where new entrants dilute existing participants and the mining reward is roughly shared on the basis of each miner’s contribution to the overall hash rate, we can derive profit by estimating the income and costs.
Mining Income:
Weekly mining bitcoins created = 25,200 = 25 bitcoins x 6 times per hour x 24 hours x 7 days
Assuming hash rate is at 300,000 TH/s, bitcoins earned weekly per one terahash of processing power = 0.084 bitcoins = (1 terahash/ 300,000 terahash) x 25,200 bitcoins
Table 1: Weekly earnings per one terahash of computing power
Hash rate (TH/s)....Bitcoins earned 270,000.... 0.0933 280,000.... 0.0900 290,000.... 0.0869 300,000.... 0.0840 310,000.... 0.0813 320,000.... 0.0788 330,000.... 0.0764 340,000.... 0.0741 350,000.... 0.0720 360,000.... 0.0700 370,000.... 0.0681 380,000.... 0.0663 390,000.... 0.0646 400,000.... 0.0630 
As new miners enter the market, an increase in hash rate dilutes the mining reward. This is the source of much uncertainty in mining because it is difficult to accurately forecast the rate of increase. Dilution reduces a miner’s income while the amount of work is the same.
Mining Costs:
Electricity typically comprises around 90 percent of total operating costs. The two determinants of electricity cost are price and the amount of electricity consumed.
If we take a hypothetical 700 GH/s system that is rated at 490 watts, we can normalise it:
0.7 kW per one terahash = (1 terahash / 0.7 terahash) x 0.49 kW
Electricity used per week is:
117.6 kWh = 0.7 kW x 24 hours x 7 days
If we know the cost of electricity, the dollar value of electricity consumed in one week can be estimated. For reference, power prices in Australia are between USD 14 cents (commercial rate) and 19 cents (residential rate). China averages around 8 cents, while other places can be cheaper. For example, in Georgia, USA the cost of commercial electricity is around 6.5 cents per kWh.
Table 2: Weekly electricity cost of running a one terahash system
 Cost at different power ratings (USD) Electricity price (USD/kWh).....1.1 kW...0.85 kW....0.7 kW 0.05.... 9.24.... 7.14.... 5.88 0.06.... 11.09.... 8.57.... 7.06 0.07.... 12.94.... 10.00.... 8.23 0.08.... 14.78.... 11.42.... 9.41 0.09.... 16.63.... 12.85.... 10.58 0.10.... 18.48.... 14.28.... 11.76 0.11.... 20.33.... 15.71.... 12.94 0.12.... 22.18.... 17.14.... 14.11 0.13.... 24.02.... 18.56.... 15.29 0.14.... 25.87.... 19.99.... 16.46 0.15.... 27.72.... 21.42.... 17.64 
Other costs to consider include mining pool fee (typically 1 percent of earnings), hosting fee (depends on host) and other expenses such as air conditioning if hosting at home, maintenance, etc.
Profit:
Using the assumptions that hash rate is at 300,000 TH/s and bitcoin price is USD 375, we can work out the profit. Moreover, knowing the basic cost of Bitcoin mining can help prospective miners avoid offers that are too good to be true. To simplify, we ignore other running costs:
Profit = (bitcoin price x bitcoins earned) - electricity expense
Table 3: Estimated profit from running a one terahash system for one week
 Weekly profit in USD (300,000 TH/s hash rate) Electricity price (USD/kWh).....1.1 kW...0.85 kW....0.7 kW 0.05.... 22.26.... 24.36.... 25.62 0.06.... 20.41.... 22.93.... 24.44 0.07.... 18.56.... 21.50.... 23.27 0.08.... 16.72.... 20.08.... 22.09 0.09.... 14.87.... 18.65.... 20.92 0.10.... 13.02.... 17.22.... 19.74 0.11.... 11.17.... 15.79.... 18.56 0.12.... 9.32.... 14.36.... 17.39 0.13.... 7.48.... 12.94.... 16.21 0.14.... 5.63.... 11.51.... 15.04 0.15.... 3.78.... 10.08.... 13.86 
These figures serve as a good benchmark for comparing your personal performance. Where the electricity price is known, the difference between the calculated and actual profits can be attributed to two things:
1) Energy efficiency of mining units can cause significant deviation, especially when the cost of electricity is high. This is usually the case if obsolete equipment is being used
2) Hosting fee, mining pool fee and other costs also contribute to the difference
Return on Investment:
The rate of return is a measure of how much miners make for a given investment size.
Implied annualised return = (52 weeks x profit per week) / (hardware cost + shipping fees + tariffs + installation and setup costs)
The current price of ASIC miners runs at around USD 500 per terahash, excluding international delivery and insurance that can cost between five to 20 dollars per kg ($50 to $200 per unit). As a general rule, higher operating profit and lower capital costs are preferred. Investors endeavour to break even quickly on the initial hardware investment and make a profit on top of that.
The problem with this model is that it implies the hash rate remains unchanged for the entire year. In reality, the hash rate is likely to increase depending on a variety of factors. Therefore, the annual profit forecast is sensitive to changes in the hash rate as well as bitcoin price. This is a complex and interesting topic that deserves its own post. Please, keep in mind that actual mining results will very likely be less than what is indicated by this simple calculation. Under some scenarios, even informed miners can experience financial loss.
OPERATING RISKS
1) Liquidity risk: Bitcoin trading is rather shallow. As such, miners may experience high trading frictions when selling bitcoins to obtain cash. A bid-ask spread of up to 10% is not uncommon in some cases. Furthermore, most mining businesses rely on the liquidation of mined bitcoins to cover operating expenses such as electricity and hosting. The combination of these two factors may result in unexpected trading costs to the miner if there is insufficient demand from bitcoin buyers.
2) Price risk: Bitcoin is highly speculative and this is reflected in its price volatility. There is no guarantee that it won’t be worthless by next year. Therefore, the miner should keep in mind that the market price is just as important as the amount of bitcoins he holds. Bitcoin price is influenced by multiple factors outside of the scope of this discussion.
3) Competition risk: Bitcoin mining is a zero-sum game. While the size of the reward is fixed, new entrants are permitted to enter at anytime reducing all miners’ share of the reward. When bitcoin price is high, more new competitors are attracted to mining, further eroding all participants’ income.
4) As a function of the Bitcoin protocol, the mining reward will be halved between May and June of 2016. When this happens, all miners will experience an immediate decline of 50 percent in income with many operators becoming unviable. This effectively gives new entrants less than 1.5 years to break even and turn a profit. The short window of opportunity is troublesome because it makes mining significantly less profitable as the deadline draws near.
submitted by Robbie2333 to Bitcoin [link] [comments]

Bit.Asic - finally received our first Bitcoin Asic Mining Rig from Butterfly Labs

https://bitfunder.com/asset/BIT.ASIC
We are happy to announce that we have finally received our first Bitcoin Asic Mining Rig from Butterfly Labs.
Butterfly Labs Orders: check out the images tab for screen shots and pictures of hardware we have received that are currently in production.
Order # 100049260, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)
Order # 100031677, pay-dated 4/2/2013, for 1 Butterfly Labs (30 GH/s Bitcoin Miner) (Purchased and Confirmed)
Order # 100067004, pay-dated 6/16/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)
Order # 100069703, pay-dated 7/1/2013, for 1 Butterfly Labs (50 GH/s Bitcoin Miner with 10 GH/s upgrade totaling 60 GH/s) (Purchased and Confirmed)
KnCMiner Orders:
Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (100 GH/s Mercury Bitcoin Miner) (Purchased and Confirmed)
NEWEST Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (400 GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed)
** Total Hashing Power: 5.5GH/s - Actively Mining
*** Dividends: will be paid every Sunday
About the Issuer:
We are a team of IT professionals & business owners with expertise in the fields of server hardware / infrastructure and web engineering.
Alongside our ongoing mining activities, we recently launched Bit.co.in which offers the crypto-currency community a free address shortener. This is a launch pad for many ideas we have for the developing community.
We are actively involved in the forums.
Bitcoin Talk user profile: coinminers
Butterfly Labs user profile: bit.co.in
Feel free to contact us at:
Email: [email protected]
Facebook: https://www.facebook.com/bitcoinshortener
submitted by nimanator to Bitcoin [link] [comments]

BIT.ASIC: Our KnCMiner Orders ( 680 GH/s to 720 GH/s ) will ship by October 15th 2013

We are excited to announce that KnCMiner has confirmed a shipping timeline for the BIT.ASIC orders totaling between 680 GH/s to 720 GH/s.
KnCMiner Orders: The following orders are confirmed to ship by October 15th 2013.
Order #3246, pay-dated 7/3/2013, for 1 KnCMiner (~137+ GH/s Mercury Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 137+ GH/s which was previously thought to produce ~100 GH/s
Order #4345, pay-dated 7/23/2013, for 1 KnCMiner (550+ GH/s Jupiter Bitcoin Miner) (Purchased and Confirmed) with the Sep 30th news update from the manufacturer this unit is now estimated to perform at 550+ GH/s - they demonstrated this unit performing at 576 GH/s on their YouTube channel - this unit was previously thought to produce ~400 GH/s
submitted by nimanator to Bitcoin [link] [comments]

Projected minimum cost of BTC over the next year

tl;dr: either the growth in the hash rate must slow down, the power consumption must go down, or the price of BTC must go up, a lot. And according to https://bitcoinwisdom.com/bitcoin/difficulty, it is showing no signs at all of slowing down, hashrate actually seems to be still growing exponentially, which is good.
Using the following conversion factors, constants and assumptions:
Code:
GH/s per Diff 0.007158388055 Blocks/Period 2016 BTC/Period 50400 Watts per GH/s 1 (assumed constant rest of this year, is it right to assume this?) USD/kWh $0.10
In other words assuming everyone in the network pays $0.10 per kWh and everyone has miners that burn 1 W per GH/s (1 J/GH) then we can calculate the average production cost for each BTC over the last year as follows:
Assuming the network growth rate over the next year is about 20% average we get:
Code:
 Hash Rate Power Energy Cost Cost Date Difficulty TH/s MW MWh $/Period $/BTC 
11-Sep-14 33,220,936,877 237,808 238 66,349 $6,634,853 $131.64
23-Sep-14 40,236,446,759 288,028 288 80,360 $8,035,984 $159.44
04-Oct-14 48,733,473,526 348,853 349 97,330 $9,733,002 $193.12
16-Oct-14 59,024,880,009 422,523 423 117,884 $11,788,392 $233.90
28-Oct-14 71,489,598,585 511,750 512 142,778 $14,277,833 $283.29
08-Nov-14 86,586,583,575 619,820 620 172,930 $17,292,988 $343.11
20-Nov-14 104,871,710,060 750,712 751 209,449 $20,944,876 $415.57
02-Dec-14 127,018,241,359 909,246 909 253,680 $25,367,960 $503.33
13-Dec-14 153,841,618,762 1,101,258 1,101 307,251 $30,725,098 $609.62
25-Dec-14 186,329,486,300 1,333,819 1,334 372,135 $37,213,544 $738.36
05-Jan-15 225,678,056,071 1,615,491 1,615 450,722 $45,072,202 $894.29
17-Jan-15 273,336,153,086 1,956,646 1,957 545,904 $54,590,430 $1,083.14
29-Jan-15 331,058,561,407 2,369,846 2,370 661,187 $66,118,694 $1,311.88
09-Feb-15 400,970,635,767 2,870,303 2,870 800,815 $80,081,465 $1,588.92
21-Feb-15 485,646,557,708 3,476,447 3,476 969,929 $96,992,858 $1,924.46
05-Mar-15 588,204,117,648 4,210,593 4,211 1,174,756 $117,475,554 $2,330.86
16-Mar-15 712,419,512,763 5,099,775 5,100 1,422,837 $142,283,732 $2,823.09
28-Mar-15 862,866,387,600 6,176,732 6,177 1,723,308 $172,330,835 $3,419.26
08-Apr-15 1,045,084,236,901 7,481,119 7,481 2,087,232 $208,723,207 $4,141.33
20-Apr-15 1,265,782,371,309 9,060,961 9,061 2,528,008 $252,800,823 $5,015.89
02-May-15 1,533,086,956,002 10,974,431 10,974 3,061,866 $306,186,635 $6,075.13
13-May-15 1,856,840,218,301 13,291,983 13,292 3,708,463 $370,846,321 $7,358.06
25-May-15 2,248,962,841,151 16,098,949 16,099 4,491,607 $449,160,670 $8,911.92
06-Jun-15 2,723,892,885,897 19,498,682 19,499 5,440,132 $544,013,236 $10,793.91
17-Jun-15 3,299,117,405,623 23,616,363 23,616 6,588,965 $658,896,517 $13,073.34
29-Jun-15 3,995,816,323,188 28,603,604 28,604 7,980,405 $798,040,547 $15,834.14
10-Jul-15 4,839,642,281,734 34,644,038 34,644 9,665,686 $966,568,646 $19,177.95
22-Jul-15 5,861,665,181,962 41,960,074 41,960 11,706,861 $1,170,686,065 $23,227.90
03-Aug-15 7,099,516,184,307 50,821,092 50,821 14,179,085 $1,417,908,463 $28,133.10
14-Aug-15 8,598,773,298,472 61,553,356 61,553 17,173,386 $1,717,338,634 $34,074.18
26-Aug-15 10,414,639,578,109 74,552,032 74,552 20,800,017 $2,080,001,680 $41,269.87
07-Sep-15 12,613,975,712,232 90,295,733 90,296 25,192,510 $2,519,250,952 $49,985.14
In other words something has got to give by the end of the year, or actually before December 1
This does not take into account hardware manufacturing cost or other expenses, just strictly electricity costs to produce one btc. I'm sure there are more efficient miners out now that are better than 1 watt gh right? Regardless of above, from now until 2016 block halving it's going to be extremely interesting to see what happens to bitcoin, and i think during this time peroid is when we will know for sure if bitcoin will become mainstream or not...
submitted by total_idiot123 to Bitcoin [link] [comments]

Helpful Bitcoin Links Please Donate

I'm looking to raise some money to develop a advanced Bitcoin shopping cart system. I'm trying to raise some money so I've compiled a list of helpful links for those of you who use or plan on using Bitcoins. Please donate to my Bitcoin address if you find this list helpful and to help the development of my projects
Bitcoin address 18e2MbUAbH7jNpYtY9Qt2WFUZpagCCEaVs
  1. http://bitcoin.org/en/ -The basic website for bitcoin
  2. http://en.wikipedia.org/wiki/Bitcoin -Information for people that know little to nothing about btc
  3. http://blockchain.info/ -Best website to track down transactions
  4. https://mtgox.com/‎ -Trusted with btc transactions, gives good current value of the coin but don't recommend depositing USD to buy coin from them
  5. https://btc-e.com/ DO NOT RECOMMEND USD DEPOSITS. Great for foreigners that can do deposits because bitcoin is always 15-17 dollars cheaper so you can buy there and sell on mtgox
  6. https://bitcoinfoundation.org/‎ -Brings some good news and promote btc
  7. https://www.bitmit.net -The ebay for bitcoins. Buy and sell items for bitcoins
  8. http://www.coindesk.com/ -One of my all time favorite websites. Has everything possible that you need to know about btc and constantly updates information
  9. http://raisebitcoins.com/ -Raise bitcoins for different causes
  10. https://bitcointalk.org/- Obviously
  11. https://coinbase.com/- Good to buy/sell, and run your business with
  12. http://brainwallet.org/- If you have large amount of coins and don't plan on spending them anytime soon then store them in custom wallets
  13. http://www.coinwarz.com/- Good mining profit calc for sha and scrypt
  14. http://bitcoinnews.com/- Has the news but updates late sometimes, and not organized
  15. http://thedailybitcoin.com/- Interesting articles everyday
  16. https://bitminter.com/- simplest way to mine btc. fast and reliable
  17. http://thegenesisblock.com/ -Good information but just another coindesk.com in my opinion
Best websites to purchase mining hardware
  1. http://wtcr.ca/ -Number one because the ship almost instantly. Rates do tend to me a lot more but you know for sure you are getting what you ordered in a week and a half of less. No BS preordering and mess
  2. http://cointerra.com/ -2th miner for 14k. Best deal, has the most reputable staff, and is more for the customers then themselves
  3. http://www.bitfurystrikesback.com/ -somewhat new the game but already shipping and producing! Definitely one of the best mining companies in the game (us buyers can now purchase off of their website now to or their resellers website at https://megabigpower.com/shop/ )
  4. https://www.kncminer.com/ -400 gh miner, yet to ship, but seems reliable
  5. http://launch.avalon-asics.com/ -Can't buy anything, beat butterfly labs, but is becoming less and less dependable by the day
  6. https://terrahash.com/- waiting on avalon chips, could turn out to be a good company but companies that can develop chips on their own such as cointerra are your best bet
  7. http://virtualminingcorp.com/shop1/ -Trying to catch up in the asic miner game, could possibly be a reliable company in the near future
Best Web Sites To Spend Your Bitcoins
  1. http://www.coingig.com
  2. The Ebay of Bitcoin https://www.bitmit.net
  3. http://www.bitcoinclassifieds.ne
  4. https://cryptothrift.com
Desktop Bitcoin Wallet
  1. multibit.org Compatible with both Mac and PC
Mining Pools For BitCoin
https://bitcointalk.org/index.php?topic=104664.0
Open Source Shopping Cart Scripts Wordpress Scripts
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Forexmine free 400 ghs free Bitcoin cloud mining 2018

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