Zhuoer Jiang: Talk about the difference between BTC, BCH and BSV
https://preview.redd.it/kcdq7qrjnyd51.jpg?width=570&format=pjpg&auto=webp&s=af67bd46683fbe3ffa6c081d490d69598dd83bbb 1. When do you contact Bitcoin? What do you think of the blockchain industry? I came into contact with Bitcoin in October 2013. At that time, I was making game aids, which involved the issue of collecting money from Taiwan and Southeast Asia. The reason for cultivating the blockchain industry is that blockchain is the only industry that can provide economic freedom. The blockchain is decentralized and has no control center, so no one can eliminate it, so it provides economic freedom. The counter-example is Qvod player. Although Qvod player also has tens of thousands of nodes, it is centralized. As long as the control center is killed, the Qvod player network will die. (QvodPlayer is a Chinese-based video-on-demand playback software, using P2P technology, users can watch online film and television programs through buffering. In mainland China, QvodPlayer has a huge number of users. Due to the use of a dedicated transmission protocol, QvodPlayer is used by some users to download banned videos, such as violent or pornographic videos, and politically sensitive videos. In addition, pirated movies are rampant in QvodPlayer) I am not a Bitcoinist. As long as other tokens provide economic freedom, I will buy them with real money. My position portfolio is BCH 40% + BTC 30% + ETH 20% + economically free innovative currency 10%, and I think that ETH is likely to exceed BTC in total market value in this bull market. 2. What is the difference between BTC, BCH and BSV? The easiest thing to see is the difference in block size. BTC blocks have been locked at about 1MB, while BSV advocates infinite blocks. BCH advocates a moderate block size, which cannot exceed the carrying capacity of an ordinary computer. The current value is about 32MB. Both BTC and BSV have gone to extremes. The BTC development team, Core, pursues extreme decentralization, resulting in too small blocks and high transaction fees. In the last bull market, a transaction fee was as high as hundreds of thousands of yuan, which caused a large number of BTC users to flow out to BCH, ETH and other tokens. Some people think that BTC can rely entirely on stored-value users instead of using users to survive. This is impossible. If there are no users, there are no stored value users. For example, gold is obviously more suitable for storing value, but almost everyone has bank deposits, except for the elderly, almost no one uses gold to store value. To People usually use paper money to store value, and naturally they also use paper money to store value. It is impossible to use paper money to store value with gold, and it is impossible to use paper money for small transactions and gold for large transactions. Currency has a scale effect, and it must be a winner takes all. BSV has gone to the other extreme. The blockchain is enough to store transaction data, but if the blockchain is used as cloud storage, no amount of space is enough. Think about how many resources the world has to store. The result is that the performance requirements are too high, the number of nodes is drastically reduced, and the foundation of the blockchain, which is decentralization, is lost. In the end, it falls into the same fate as the Qvod player. To Behind the different block sizes are the differences in the spirit of the three. Just like during the Opium War, the difference between Britain and China's Qing Dynasty was not a superficial weapon, but a complete political, economic, and technological gap behind it. Both BTC and BSV are irrational and religious to a certain extent. BTC advocates a deadlock block size, and BSV advocates a deadlock protocol. The two are very similar. In terms of rational development and serving users, BCH has won. For example, the issuance of tokens is an important function and rigid demand of the blockchain. Tokens can already be issued on BCH through several protocols such as Wormhole and SLP, while BTC and BSV cannot yet. This is a huge difference in development. 3. Under what circumstances can BCH exceed BTC? BCH has to wait for users to slowly develop until the number of users and transactions exceed BTC. Although under normal circumstances, the currency has a scale effect, this situation is unlikely to happen, but BTC made a fatal mistake, and locked the block and locked the user. What if BTC expands like BCH? First of all, BTC cannot be expanded because the expansion requires a hard fork, regardless of whether it is within the community or the Core, it must adhere to 1MB, insist on extreme decentralization, and BTC must be able to run on the Raspberry Pi. The result is that the expansion advocates in BTC and Core re-hard fork. Isn't this the plot of the hard fork of BCH from BTC in 2017? So what are these "advocates" doing hard forking again? Just go straight to BCH. Therefore, BTC must undergo a hard fork to expand, so it cannot be expanded. So BCH only needs to catch up, which is a fixed goal. I estimate that in this bull market, BCH can exceed the number of users. At that time, BCH had a solid foundation of users and communities. The price increase only increases the price of BCH, the value of BCH is determined by the number of users, and the price fluctuates around the value. 4. Will BCH hard fork happen? What impact will it have on us later? The BCH community has recently had a lot of discussions on the issue of miner donations, which reflects the decentralization of BCH. If BCH is controlled by bitmain, why it took a long time for bitmain to implement this problem? Conversely, if CSW wants to modify something on BSV, it can be passed immediately. 5. Do you think BCH is worth long-term ownership? I often say: "Ask God in the short term, and the number of users in the long term." The longer the time, the more worth holding BCH. BCH is developing rapidly due to the correct route. I just gave an example. There are already several schemes for issuing tokens on BCH, but neither BTC nor BSV have one. Part of it is because BSV locks the protocol and is not convenient for development. The other part It is because the BSV community has inherited the characteristics of CSW and only speaks big words and does not do practical things. Therefore, it is definitely worth holding for 1 to 2 years, and the rate of increase is likely to be higher than that of BTC. I predict that the highest point of this round of bull market for BCH will rise from about 3.6% of BTC to 10% to 20% of BTC. 8. Free Q&A "Will Bitcoin die due to quantum computers or other reasons?" Certainly not, at best, replace a quantum-resistant algorithm. Looking at it now, quantum computers will not be practical for a long time. And I think quantum computers may not be able to solve the NP problem, that is, the current asymmetric encryption problem, which may not be possible mathematically. "The impact of the proliferation of contract transactions on currency prices?" The currency price is ultimately determined by the number of users, not by speculative users. The proliferation of futures trading has happened long ago. From 2016 to 2017, in the presence of a large number of futures trading, BTC rose 100 times. "Will you be notified when you escape?" I will definitely not inform. I have already made predictions. I think the bull market may end in the second half of 2021. Or conversely, this bull market may last for two to three years, and two years are more likely. Why not notify? Most of my clients are miners, and the currency price directly affects the income of the miners. If the currency price drops due to my notification, the interests of my clients will be damaged. "Recommended regular investment in 2019, what strategy is recommended in 2020?" This year's bull market has begun, and it must be a full position investment. The cost of regular investment to buy coins later is very high. "Is it better to speculate or to mine now?" Most people can't insist on holding the token from start to finish. Most people are in the middle of the bull market, or even sell it at the beginning, and then miss the entire bull market. Only miners, no matter what level of miners, will hold the token from beginning to end. During the entire bull market, miners are very profitable. Miners will certainly not sell the goose that lays golden eggs like mining machines in the bull market, so miners tend to make more. The earliest miners are basically still active in the market, and their wealth is free, while the earliest holders of coins are almost gone.
CryptoDiffer teamHello, everyone!We are glad to meet here:Max Freeman (@maxfreeman4), Project Lead at Epic CashYoga Dude (@Yogadude), PR&Marketing at Epic CashXenolink (@Xenolink), Advisor at Epic Cash Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here! Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here! Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us! CryptoDiffer teamLet`s start from the first introduction question:Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash? Yoga Dude PR&Marketing at Epic Cash Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing. I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially. Xenolink Advisor at Epic Cash Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers! Max Freeman Project Lead at Epic Cash I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level. CryptoDiffer team Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:) Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one? Max Freeman Project Lead at Epic Cash I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly. There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos that explain why we believe we have created something truly special here. Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange. Yoga Dude PR&Marketing at Epic Cash Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility. Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved. Xenolink Advisor at Epic Cash To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry. To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone. CryptoDiffer team Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months? Yoga Dude PR&Marketing at Epic Cash Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content. We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money. You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages Max Freeman Project Lead at Epic Cash Our future development roadmap will be published soon and includes 4 tracks: Usability Mining Core Protocol Ecosystem Development Core Protocol Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020 Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020 Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a Usability GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020 Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020 Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a Mining RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin. Ecosystem Development Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a Xenolink Advisor at Epic Cash From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide. CryptoDiffer team Great, thank you for your answers, we now can move to community questions part! Cryptodiffer Community You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC? Max Freeman Project Lead at Epic Cash The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part. Cryptodiffer Community To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from? Xenolink Advisor at Epic Cash Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project. Cryptodiffer Community Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you! Yoga Dude PR&Marketing at Epic Cash First, I must admit that I am still a huge fan and HODLer of Monero. That said: ✅ our blockchain is MUCH lighter than Monero’s ✅ our transaction processing speed is much faster ✅ our address-less blockchain is more private ✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU Cryptodiffer Community
the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community $EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future? Who is Epic Biggest competitors? And what’s makes epic better than competitors? Xenolink Advisor at Epic Cash We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity. Cryptodiffer Community What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Yoga Dude PR&Marketing at Epic Cash Since we are a community project, we have many developers, in addition to the core team. Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks. We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked. Cryptodiffer Community EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges? Xenolink Advisor at Epic Cash In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Max Freeman Project Lead at Epic Cash Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic. With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash. As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability Cryptodiffer Community Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ? Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors? Max Freeman Project Lead at Epic Cash RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware. Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses. Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware. The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved. Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem? Xenolink Advisor at Epic Cash Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic. Cryptodiffer Community I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto? What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ? Yoga Dude Pr&Marketing at Epic Cash Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential. The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers. The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique Cryptodiffer Community Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI? Yoga Dude PR&Marketing at Epic Cash We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on. Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way. Cryptodiffer Community If you could choose one celebrity to promote Epic-cash, who that would be? Max Freeman Project Lead at Epic Cash I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences. I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today. Epic Cash will have its OWN Celebrities Cryptodiffer Community How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it? Xenolink Advisor at Epic Cash Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin. Cryptodiffer Community what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? Max Freeman Project Lead at Epic Cash There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make. Cryptodiffer Community Q1 : What are your major goals to archive in the next 3–4 years? Q2 : What are your plans to expand and gain more adoption? Yoga Dude Pr&Marketing at Epic Cash Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁 We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting. Cryptodiffer Community It seems to me that EpicCash will have its first Halving, right? Why a halving so soon? Is a mobile version feasible? Max Freeman Project Lead at Epic Cash Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140. Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining. Cryptodiffer Community What markets will you add after that? Yoga Dude PR&Marketing at Epic Cash Well, we are aiming to have ALL markets Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry) We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages. Epic Cash is More than Money and its for Everyone. Cryptodiffer Community Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins? Max Freeman Project Lead at Epic Cash With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can. Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises. Cryptodiffer Community What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment? Xenolink Advisor at Epic Cash Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash. Cryptodiffer Community
You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well. Cryptodiffer Community Do EPICs in 2020 focus more on research and coding, or on sales and implementation? Yoga Dude PR&Marketing at Epic Cash We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy. In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC. Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters. Everyone with skin in the game gets the benefit of advancing the cause. Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content — https://www.youtube.com/watch?v=XtAVEqKGgqY a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this Cryptodiffer Community I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex? Let’s talk about the economic model, can EpicCash comply with the concept of value reserve? Max Freeman Project Lead at Epic Cash In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader. We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166 Max Freeman Project Lead at Epic Cash Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project. Xenolink Advisor at Epic Cash Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash . Yoga Dude Pr&Marketing at Epic Cash Thank you, CryptoDiffer Team, and this wonderful Community!!! Cryptodiffer TEAM Thank you everyone for taking your time and asking great questions Thank you for your time, it was an insightful session Spread the love
[MINING] Can anyone help with this? "stratum_subscribe timed out ...retry after 10 seconds"
Hi everyone, Just as a disclaimer for the beginning, I'm not investing in Bitcoin, I'm not doing this for any profit or reason, it's more for my own interest. I'm trying to do some mining on my Raspberry Pi 3, and I have set up a wallet, got a pool account with Slush Pool, and installed or the libraries and software needed to run. As far as I am aware I have ran the right code. However, when I run it, I get this:
./cpuminer --algo sha256d --url stratum+tcp://eu.stratum.slushpool.com:3333 --user CENSORED --pass CENSORED ** cpuminer-multi 1.3.7 by [email protected] ** [2020-05-18 21:25:38] Starting Stratum on stratum+tcp://eu.stratum.slushpool.com:3333 [2020-05-18 21:25:38] 4 miner threads started, using 'sha256d' algorithm. [2020-05-18 21:26:08] stratum_subscribe timed out [2020-05-18 21:26:08] ...retry after 10 seconds [2020-05-18 21:26:48] stratum_subscribe timed out [2020-05-18 21:26:48] ...retry after 10 seconds [2020-05-18 21:27:28] stratum_subscribe timed out [2020-05-18 21:27:28] ...retry after 10 seconds [2020-05-18 21:28:08] stratum_subscribe timed out [2020-05-18 21:28:08] ...retry after 10 seconds [2020-05-18 21:28:48] stratum_subscribe timed out [2020-05-18 21:28:48] ...retry after 10 seconds
Anyone have any idea on how to sort this out? Thanks
I earned about 4000% more btc with my android tablet than with a $250 ASIC mini rig setup using GekkoScience Newpac USB miners!
Requirements: 1.) Android Device with access to Google Play Store. *I haven't tried yet but you may be able to use tis on Android TV devces as well by sideloading. If anyone has success before I try, let me know! -Note, I did this with a Samsung Galaxy Tab S6 so its a newer more powerful device. If your android is older, your profts will most likely be less than what I earned but to give a projected range I also tested on my Raspberry Pi 4 running a custom LineageOS rom that doesn't allow the OS to make full use of the Pi's specs and I still got 500 h/s on that with Cloud boost, so about 60% of what my Tab 6 with MUCH Higher Specs does. **Hey guys. Before I get started i just wanted to be clear about one thing. Yes I have seen those scammy posts sharing "miracle" boosts and fixes. I have a hard time believing stuff online anymore. But this is honestly real. Ill attach photos and explain the whole story and process below. Thanks for taking the time to read and feel free to share any thoughts, concerns, tips, etc* So last week I finally got started with my first mini rig type mining build. I started getting into crypto about a year ago and it has taken me a long time to even grasp half of the projects out there but its been fun thus far! Anyways my rig was 2 GekkoScience Newpac USB miners, a Moonlander USB miner to pair with an FPGA i already had mining, a 10 port 60W 3.0 USB hub and 2 usb fans. The Newpacs actually are hashing at a combined 280 g/s which is actually better than their reported max hash rate when overclocked. Pleasant surpise and they are simple!! I just wanted to get a moonlander because my fpga already mines on Odocrypt for DGB and I just wanted to experience Scrypt mining and help build the DGB project. The Newpacs are mining BTC though. After I got everything up and running i checked my payout daily average after 1 week. I averaged .01 a day TOTAL between all three miners with them all perforing ABOVE SPEC!!! I had done research so i knew I wouldnt earn much. More than anything i just wanted to learn. But still. I was kinda surprised in a negative way. Yesterday I actually earned less than .01 Frustrated I went back to scouring the web for new ideas. About a year ago, when II was starting, I saw an app on my iphone called CryptoBrowser that claimed to mine btc on your phone without actually using phone resources using a method of cloud mining. I tried it for a week and quit because I earned like .03 after a ton of use and seemed scammy. Plus my iphone actually would get very hot when doing this so I quit using it as it seemed like a possible scam with all the cryptonight browser mining hacks and malware out there. Anyways I was on my Galaxy Tab S6 and saw that CryptoBrowser released a "PRO" edition for 3.99 on Google Play. I bought it for Sh*ts and giggles and booted it up. It came with what they called "Cloud Boost" Essentially this is a button you press and it multiplys the estimated hashrate that it gives you device by the number shown on the boost button. (With the purchase of PRO you get one free x10 boost. You can purchase additional boosts to use with other android devices but those are actually pretty pricy. Another x10 boost was like $25 if i remember correctly). I played with it for about an hour to see if it actually worked like it said it would this time. To my surprise, as i was browsing, my device didnt increase in temperature AT ALL!!!!! I checked my tast manager to confirm and it was indeed true, my memory and usage barely went up. it was giving me an estimated range of 80-105 on the hashrate. Once i pushed the x10 boost button, that went to 800-1150 h/s. I switched my screen to not go to sleep, plugged it to the charge and let it run on the browser page, hashing. When you push the boost button, it runs for 3 hours at the boosted speeds. After that it goes back to normal but if you press the button again, it boosts everything again. There is no limit to how many times you use it. After checking what I earned after 24 hours, I HAD MADE .40 in BTC!!!!! I JUST EARNED OVER 4000% MORE THAN MY $280 MINING RIG EARNED ME!!!! I was blown away. Maybe this was a fluke? I did it again next day. Every 3 hours or so I would push the button again but thats all. Sure enough, .35 that day. Also, it realy BTC. I requested a payout and although it took like 12 hours for them to send me an email stating they had just sent it, I actually did recieve the state amount of BTC within 24 hours in my personal wallet. The fees to send are SUPER LOW!. Like .01 Below I will list the steps I took, along with an explanation of thier "Mining" process on Androids. Reminder, this ONLY WORKS ON ANDROIDS. Also DO NOT use cryptobrowser on a physcal laptop or desktop. I ran it on an old laptop for three days last year and it fried it. It does actually use your hardware on those platforms to mine and it is not efficnet at all as I suspect they prob steal over half of your power for themselves using the REAL RandomX protocol via browser mining which is EXTREMELY INEFFICIENT DONT TRY IT!! -----How To Do This Yourself: Cryptotab Browser states the program works on Android devices by estimating what it thinks the hashrate would be for your device specs and siimulates what you would mine in a remote server however you still earn that estimated coin amount. It is not a SHA-256 process or coin that they say is mining, rather it is XMR and they swap that and pay it out to you in BTC Bitcoin. However I know damn well my Tab S6 doesnt hash 80-105 h/s on RandomX because I have done it with a moodified XMRig module i ported to Android. I got 5 h/s a sec if I was getting any hashes at all. But thats besides the point as I still was making money. Now, when you press that cloud boost button it immediately boosts that hash rate it estimates by the number on the cloud boost. As stated above, you can purchase more boosts and gift them or use them on extra android devices that you may have. Again, they are pricey so I'm not doing that plus it would just mean that I have another device that I have to leave on and open. The boosts come in x2, x4, x6, x8 and x10 variants. Again, they have unlimited uses. Here is the link to grab yourself CryptoBrowser Pro from CryptoTab. This IS A REFERRAL LINK! This is where I benefit from doing tis tutorial. Like i said, I want to be transparent as this is not a scam but I'm also not doing this out of the love of my heart. Their referral system works in that people that use the donwload the app using your link are your stage 1 referrals. Anytime they are mining, you earn a 15% bonus. So say they mine $.30 one day. You would get paid out an additional $.045 in your own balance (it does not come out of the referred user balance fyi so no worries). Then lets say that referred miner also gets their own referrals. I would get a 10% bonus on whatever THOSE people mine. This goes on and on for like 8 tiers. Each tier the bonus percntage essential halves. So again, I stand to benefit from this but it also is stupid to not make this visible as its WAY CHEAPER, EASIER AND MORE PROFITABLE TO GET BTC USING THIS METHOD THAN IT IS USING ASICS!! THIS EARNS ALMOST AS MUCH BTC AS AN ANTMINER S7 DOES RUNNING 24/7 ONLY WITHOUT THE HUGE ELLECTRICTY BILL AND COSTS!!!!) Thats it. Again, if you have concerns, let me know or if you have suggestions, other tips, etc... mention those as well!!! https://cryptotabbrowser.com/8557319 Links to Picture Proof http://imgur.com/gallery/P13bEsB
New to crypto. From what I’ve read in the past, Bitcoin mining was no longer profitable since the odds of getting a coin were roughly that of winning the lottery(?), and there was such a ridiculous amount of competition. Is this still true? I’ve recently made a small BTC purchase experimenting with the market, and curious if the above has changed at all. Given a startup cost of ~2K for an asic miner and average US powebandwidth costs, is there a reasonable ROI at all? Interested as both a hobby and hopefully some kind of return. Or do you think I’m better served just planting the same money in BTC and throwing it in a paper wallet for awhile? Setting up a Lightning Node on an incoming raspberry pi sounds like fun, but that also sounds like not a for-profit project.
First-time poster here, don’t bully me, apologies for the potentially atrocious formatting :) TL;DR at the end So in the wake of Bitcoin’s explosive rise in value and media attention, I’ve been encouraged by others to share my experience over the past few years as a miner. Here's my story (it's kinda long, you've been warned)
It all started almost three years ago in the beginning of 2015 when Bitcoin flew under my radar. Looking into it, I admittedly wasn’t drawn in because of the decentralisation or the anonymous payments, I was hooked on the idea that anyone could get their hands on some just by running a program and leaving it to do its own thing. I know, how shallow of me. But the idea of making even a bit of money without ‘any work’ was convincing enough for 11-year-old me to do more digging into the matter. To my disappointment, I soon found out that the era of mining Bitcoins with a PC’s CPU or GPU was long obsolete and instead it was all ASICs at that point. So that summer, for my twelfth birthday, I got a little ASIC machine for €60, an Antminer U3. This little thing took up less space than a graphics card but could mine at 60 GH/s. Because, at the time, I didn’t have a controller device that could be kept up and running all day long so it could run the program that mined Bitcoin using the U3, I went ahead and got a Raspberry Pi. After setting up the Pi and installing all the necessary stuff (took an awfully long time), I connected it to AntPool and plugged the U3 in. Two days past and the mining pool sent the first Bitcoin I ever received to my wallet (I was using Blockchain.info). It was just 30 cents worth of BTC but I felt a bit of a rush because I was earning a bit of money through this completely new thing and the idea of that was thrilling. Let’s back up for a second. I just used the term ‘earning’ as if I was profiting, and naive me 2 years ago was no different. In reality, I was at first oblivious to the fact that I was most likely LOSING money overall because of how much energy that little sucker was taking in. But, I was comforted thinking that using that machine was just a practical way of learning about this modern currency and that the loss of several cents’ worth of energy was acceptable in the name of education and learning. Fast forward ten months to the wonderful summer of 2016. I had recently turned 13 and the Antminer U3 had been running on and off throughout. Various pauses and breaks in mining would be observed, as I had to manually get everything up and running after frequent breaks in the Internet connection. You’d expect my newly-turned-teenage brain to lose interest in Bitcoin as it does with many other gimmicks, but – even surprising myself – I miraculously didn’t. Good thing I maintained interest thinking about it now, not so good at the time for my parents. Why do I say this? I felt like it was time to get a little upgrade in my hardware.
Getting an upgrade
Days passed with me comparing every ASIC miner I could at that price point. It was then I set my eyes upon the Antminer S7 (same folks who did my U3, nice). I had put it up against a plethora of other miners and I figured the S7 was my best bet; the thing costs only about 10 times that of my U3 but could run at 4.73 TH/s, almost 80 times as powerful. The only problem being its power consumption was at 1300 watts, which would put a massive dent in the electricity bill and eliminate any profit I would make. Fortunately, I had a secret weapon up my sleeve – or rather my mum did. She had rented out an office outside our apartment where she would keep files and paperwork. The office’s electricity bill was a flat rate as far as I’m aware and it ended up being my saving grace because it virtually got rid of the “oh no I’m actually going to be losing money because of how much electricity I’m eating up” factor, making this whole hardware upgrade viable. After convincing my parents, they finally agreed to shell out the requested amount, with the initial investment being paid back with time. I went to a local Bitcoin vendor and purchased 1 BTC for about $665 in cash (sigh yes, I know. $665 dollars). Shortly after, I used about 0.9 BTC to purchase the Antminer S7 and a 1600W power supply for a grand total of $600. The products would be made and shipped from China so I was definitely in for a wait. A month passes and the package arrives at last. I connected all the wires from the power supply into the S7 and – with great anticipation – I plugged it into the wall to start its first ever run. And what do you know? An extremely loud and high-pitched whirring sound blasted out from the fans on both the power supply as well as the S7. After killing the thing, I questioned my choices. I couldn’t dare put that thing anywhere near my mum’s office in the event it drive everyone in the building absolutely nuts. I was at a loss. However, I soon recovered from my temporarily debilitated state and got working on a solution. The first idea that came to my mind: change the fans. The stocks fans were by Evercool and spun at around 3000 RPM. The power supply used a small, robust fan that looked like a cube that must’ve spun at extremely high speeds judging by how high the sound it produced was. I got my parents to give me some more funding so I could acquire the replacement fans and I did. Bust. After installation and testing, none of the fans would work. I managed to configure the S7 to connect to my Antpool account and the machine would manage mining for several minutes running at peak performance but ultimately be automatically cut off because of how hot the machine was getting (I’m talking about 80 degrees Celsius kinda hot in that thing). The fans got refunded and I was back to the drawing board. After combing through some forum posts and videos, I came across this video and a forum post in which people have their mining rigs placed inside a ventilated, muffled cabinet. Undertaking a project like this would be time-consuming and risky but I had no better ideas so I decided to go through with the idea anyway. Firstly, I sought out a cabinet with suitable dimensions. I managed to get just what I needed at a second-hand IKEA shop. Great. Secondly, I went ahead and acquired some sound-absorbing acoustic foam from a local provider. Fantastic. Finally I had to get a ventilation system going within the cabinet, otherwise, all the hot air would roast the machine alive in there in a bloody mess. With the help of my dad, we found a pair cabinet fans on the Internet that were close to silent but could circulate the air well enough. Eventually, all the materials came and, with the help of my parents, put everything together. The process took quite long time and we had a couple hiccups along the way, but we got it done and it came out pretty nice. The moment of truth came and, to my relief, it ran so much quieter than without the cabinet. It was nowhere near silent but it reduced the noise a great deal. Soon after, I got the thing into the office and set everything up from there. Unfortunately, I was forced to underclock it because you could still hear the machine’s whining from outside the thin office door. Gunning the hashrate down about 25% to 3.7TH/s, I could lower the fan speed without risking the machine burning up. Sure, I wasn’t getting the full potential of the machine but I didn’t complain because electricity was not an issue there and it was still a whole lot better than my U3. With it up and running, I could leave it there, periodically checking to see if it was mining on Antpool.
In the months that followed, I was getting a solid $2.5 worth of BTC on daily basis. Half a year later, May of 2017, I had accumulated a satisfactory $600. I thought, “At this rate, I’d be able to pay my parents’ investment back in a few months” (the total investment came close to $900). Bitcoin had risen to over $1500 so I was already over the moon at that point because of how well everything was going. Little did I know… I hit 0.5 BTC midway through September this year. The price of BTC had dropped after a sudden rise to $5000, but I couldn’t have asked for more. Although I possessed only half the amount of BTC I paid for the machine, its value was over twice that of the initial investment. I thought BTC would level off at around $4000 but nope. In the month of October, the price skyrocketed. Since September, I had only mined 0.017 BTC but the value was already over $3000. It was just a matter of selling it, but I decided to hodl. Good thing I did. As of November 5, I have approximately 0.52 BTC mined in total from my S7, valued at $4000. If I were to sell it right now, I’d have a profit of over $3100. And as for my miner, it’s churning out 0.0006 BTC daily, sounds like nothing but it’s still the equivalent of $5 today and I couldn’t be happier, at least with the miner and Bitcoin. You remember that $665 for 1 BTC that I mentioned earlier? In hindsight, it would’ve been such a better idea to just keep that one Bitcoin and not do anything with it until today (in the interest of making much more money), as I’d theoretically have upwards of $7000. The idea of that still haunts me sometimes if I dwell on it too long but knowing that I’m in possession of an already hefty amount, the pain of it had numbed slightly. It’s not all doom and gloom for me from the exponential increase in Bitcoin’s value, however. Those first $0.3 payments from my humble little U3 all those years ago now are now the equivalent of over $6 today! Bitcoin and everything it encompasses has been and still is a journey of discovery and an adventure. Looking back, starting with a modest €60 Antminer U3 to having a sum of Bitcoin equivalent to two extremely high-end gaming rigs (first thing I could think of as a comparison, sorry) has been something I can’t really describe. Through the course of the past few years, I’ve learned more about technology, I’ve unexpectedly gotten insight into economics and business and – of course – I’ve made a lot of money (if I decide to stop hodling that is). Also, props to my parents for keeping an open mind throughout, I know some parents would be horrified at their kids being involved in something that has been used in some less-than-savoury ways and it's great knowing mine have been supportive all the way. TL;DR got into Bitcoin mining 3 years ago at age 11 with an Antminer U3 that ran at 60 GH/s, got an Antminer S7 (4.73TH/s) and built a sound-muffling, ventilated cabinet for it. Am sat here today with $3000 profit if I decide to sell right now.
Bitcoin value. Current value at ~1000 USD. Profits above calculated at 900 USD Bitcoin difficulty: 1,180,923,195 Bitcoins per Block (BTC/block): 25 Conversion rate (USD/BTC): 900 Hash rate: 100 GH/s Electricity rate (USD/kWh): 0.09 Power consumption (W): 3 Time frame (months): 3 Cost of mining hardware (USD): 3011.98 Profitability decline per year: 0.61 Difficulty 1,180,923,195.00 Mining Factor 100: 0.04 USD/[email protected]/s Hardware break even: 84 days Net profit first time frame: 279.64 USD Coins per 24h at these conditions: 0.0426 BTC Power cost per 24h: 0.01 USD Revenue per day: 38.33 USD Less power costs: 38.32 USD System efficiency: 33333.33 MH/s/W Mining Factor 100 at the end of the time frame: 0.03 USD/[email protected]/s Average Mining Factor 100: 0.04 USD/[email protected]/s Power cost per time frame: 0.59 USD Revenue per time frame: 3292.21 USD Less power costs: 3291.62 USD Hardware Cost Breakdown: 100GH Overclockable Bitcoin Miner Kit 2,800.00 USD https://megabigpower.com/shop/index.php?route=product/product&product_id=70 RASPBERRY PI MODEL B 700Mhz; 512Mb RAM 41.99 USD http://www.amazon.com/RASPBERRY-MODEL-700Mhz-512Mb-RAM/dp/B009SQQF9C/ref=sr_1_1?s=pc&ie=UTF8&qid=1389015864&sr=1-1 Cooler Master Silent Pro Gold 800W 169.99 USD http://www.newegg.com/Product/Product.aspx?Item=N82E16817171057 Whatever amount you want to invest determines your percentage of the profits. Example: Total Investment Cost: 3011.98 USD Investor #1: 75 USD = %2.4 Profit Share, net profit of 6.97 USD after 3 months Investor #2: 500 USD = %16.6 Profit Share, net profit of 46.50 USD after 3 months Investor #3: 906.60 USD = %30.1 Profit Share Investor #4: 1505.99 USD = %50 Profit Share 874.16 USD net profit after 3 months with a $800 investment. Mining pool fee. Typically 3%. P2Pool offers 0% mining pool fee. https://github.com/forrestv/p2pool
if you think the 21inc bitcoin computer is a waste of money because of ROI, i believe you're missing the point
i keep seeing posts about people being upset because they can't understand why someone would pay $400 for a raspberry pi with a mining shield, a big ass heatsink, and a fan. this isn't marketed as a bitcoin mining device. it's being marketed as a device (a dev kit for future devices, at this point) that is designed to integrate with bitcoin in many ways. mining is one (and definitely not the only one) of the ways it does that. and it's not mining to just be mining. i'm not super familiar with the ins and outs of this newfangled device, but it seems to me like the satoshis are for other uses, like smart contract kinds of uses. the things are definitely not mining for profit. i don't get everyone's obsession with ROI. would you be considering the ROI if you were investing in any other computer? obviously a computer is an investment, but the value you get out of it is from its utility. you can do all kinds of crazy cool shit with a computer. things you never imagined you could do before. i recently got a raspberry pi, and the uses seem endless. i never thought i would be learning about linux, coding, web design, electronics, robotics, music, web servers, home servers, proxys, radio, graphic design, and home automation, all because of the same little device! i don't see anything keeping this 21inc device from being a great tool for bitcoin innovation on many levels. and it seems they're just getting started. it also seems to me like 21inc will eventually have a very decentralized mining pool. plus, the existence of another mining pool adds decentralization to bitcoin mining in general. right? perhaps someone who is more knowledgeable could elaborate or cmv? tl;dr the 21 inc computer is not a mining rig. it's a computer. it does stuff. some people find value in that.
I still favor Bitcoin P2P Electronic Cash instead of any of those cool altcoin projects because of its perfect ratio between maturity and ambition.
Bitcoin (Cash) is serious business. It is not just novel tech and hot air that brings a coin to mainstream adoption. I've personally seen many awesome projects fade into oblivion due to marketing and administrative failures. One of the greatest fallacies of a rookie crypto investor is the assumption that technical glitter is the only parameter that differentiates viable projects from the doomed ones. As a result we've seen a storm of whitepapers making far-fetched promises that go like this:
we implement this and that
this and that make us better than Bitcoin and Ethereum combined
mainstream adoption (profit)
Not going to happen because it's the people, the community and the will of multiple powerful entities that is necessary for reaching mainstream adoption. Technically there is nothing stopping Bitcoin Cash from scaling to the levels required by the mainstream adoption. I can even see how mining pools would establish high speed private connections between each other just to share TX data. We have the brand, we have the big backers, public icons and the community. A bet on Bitcoin Cash is like a bet on Coca-Cola in 1984. Just because your regular neckbearded basement dweller with his pet Raspberry Pi would never even dream to have such infrastructure supporting their "novel and better-than Bitcoin" cryptocurrency does not mean Bitcoin (Cash) is a bad bet. For that reason, I congratulate everyone who has used this exceptional opportunity to multiply their original bitcoins many times thanks to the fork that happened in August 2017. Bitcoin Core tokens were the dividends that were paid to Bitcoin Cash holders ;) better sell those dividends before they depreciate into oblivion.
The 8 most informative comments about 21inc's bitcoin computer dev kit
"Anyone who thinks this is about making money by mining has very little insight into what Bitcoin actually offers the world. This is not about bringing the old economy (banks, businesses, governments) into the Bitcoin family. This is about building entirely new economies, ones that have never and could never have existed before. 21inc can see the vision and they just bootstrapped the IoT on the Bitcoin blockchain. Thank your lucky stars on your way to the moon." - PhiMinD "I'm fairly sure this is NOT an end user device. This device appears to be solely for the purpose of prototyping integration with other devices, and allow people to work out the ends and outs of the process. My assumption is that in like 6 months to a year, a much more compact and integrated device will be released that would be far cheaper, and suitable for installation in actual consumer devices. This is for developers." - DakotaChiliBeans "The more I think about it, the more incredible and groundbreaking this seems. When every piece of hardware and software has the ability to transfer money, our entire concept of how we do everything changes. We're only beginning to imagine the possibilities. Even the few simple ones I've been thinking of make my head spin. Bitcoin as a human currency is exciting. Creates a more open system, breaks monopoly, gives you the option of true, non-revocable ownership. All great stuff. But it's these revolutionary ideas that make me believe that Bitcoin, or a successor very much like it, will take over the world. As someone invested in bitcoin, I'd like to see it succeed and my investment pay off, but goddamn will this be an exciting ride regardless. At this point, I'm seriously thinking of buying and developing on it. The potential here is lightyears beyond what most people are thinking." - consideranon "Seeing the 21 Bitcoin computer reminds me of the developer kits for oculus rift. It took a lot of time to perfect before going fully public. It was also tested with a pre-release through Samsung's VR headset. Other more resourceful people bought the cardboard much like the same people would buy the Raspberry Pi instead of this. Anyway, the 21 computer is very likely the first iteration of many." - Hiro_Y3 "I think it removes a step in the process. Instead of learning about wallets, private keys, maintaining a login and password, etc, the computer takes care of all of that without the user having to think about any of it. The mining function provides initial liquidity to get the ball rolling. This is the first step of payments being built into the IoT." -TDBit "Most of everybody here is missing the point. This is a bitcoin computer. This is not made to simply mine to generate a profit but rather a miner is just an added part. The miner is used to continuously supply the Bitcoin computer with bitcoin. It uses the bitcoin to "write" to the blockchain. It's like a digital quill with an endless bitcoin inkwell." -Fuzzypickles69 "Ok, this takes a leap of faith, but what they're trying to do is build a full-stack device which can send/receive bitcoin and which also solves the "how do devices get bitcoin in the first place" problem. Imagine the whole thing being a lot smaller and cheaper, and embedded in lots of devices globally. Now you have a world in which millions of devices (machines) can send and receive tiny payments, and which natively have a currency unit to use for that purpose." - melbustus "ServiceXYZ: Links your 21 box to your Twitter account, and any paywall website lets you read anything you want without popups, ads, or subscriptions. There, I just made up a business in 10 seconds, someone go make it :)" - evoorhees These comments were pointed to by balaji himself, here.. https://www.reddit.com/Bitcoin/comments/3lv6zj/ama_request_ceo_of_21inc_balaji_srinivasan/cv9zq9q
LYNX - One of the lowest priced coins on CMC but has huge potential!!
The LYNX Project in my mind is one of the best moon shots, I have been following it for one year and recently bought into it. ECO-FRIENDLY CRYPTOCURRENCY Bitcoin’s business rules and energy requirements create an over-reliance on fossil fuels; Lynx does the opposite and strives to solve this problem. For cryptocurrency to be considered a secure platform for exchange in today’s global marketplace, it must be created with global sustainability in mind. Imagine this! Bitcoin takes 3 billion per year USD to mine, LYNX takes only $3000 USD annually to mine! Essentially the entire LYNX blockchain runs on Raspberry Pi's (mini low cost computers for $30). GLOBALLY SUSTAINABLE NETWORK Unlike Bitcoin, the Lynx code discourages high-volume mining rigs because the code purposefully lacks incentives to mine it for profit. As a result, the entire Lynx network is designed to operate on a collaboration of low power devices that anyone can run, resulting in a collective global mining cost of only dollars a day.
Lynx is a downstream of Litecoin which means that, like Litecoin, we’ll have low transaction costs and fast transaction speeds. Our downstream position also ensures that Lynx contains the most up-to-date security features of Litecoin. Why did we choose Litecoin? Their team is small and nimble like us, and they implement technological improvements quickly and with little drama or fan-fare. (Unlike other coins and teams which we will not name. Cough cough.)
To get ahead in today’s global market, companies need cryptocurrency integration in their software applications and devices. Seamless integration enhances the customer experience and gives companies a competitive, global advantage. To assist with this, we provide concierge-level customer service for our business clients and integrated applications. Learn more and read their white paper: http://cdn.getlynx.io/2018-06-18_Lynx_Whitepaper.pdf Here they are on CMC: https://coinmarketcap.com/currencies/lynx/ Would be great to hear peoples thoughts on this project!
The owners of Blockstream are spending $75 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.
At this point, that's really the simplest "Occam's razor" explanation for Blockstream's "irrational" behavior. Once you let go of your irrational belief that Blockstream's owners actually want to get a "return" on their $75 million investment, from "innovations" such as sidechains technology (Lightning Network - LN) - only then will you be able to see that Blockstream's apparently "irrational" behavior is actually perfectly rational. They say their goal is to "get rich" from LN. And if you believe that, I have a Dogecoin I'd like to sell you. What are the real goals of Blockstream's owners? Blockstream's owners don't give a fuck about the Rube Goldberg vaporware which some focus group christened "the Lightning Network". That name is just there to placate the masses of noobs who congregate on /bitcoin. The owners of Blockstream are laughing at Adam Back as he continues to labor in isolation, the stereotypical math PhD who is clueless about economics, toiling away creating a slow, overpriced, centralized "level 2" payment layer on top of Bitcoin - a complicated contraption which may never work. They have neutralized him - but meanwhile, he thinks he's a rock star now, as "CEO of Blockstream". Little does he know he is the worst "collaborator" of all. Investors are risk-averse If Blockstream's owners really wanted to get rich from LN, do you really think they would freeze the "max blocksize" at 1 MB for the next year, when this 1-year freeze obviously risks destroying Bitcoin itself (along with their investment)? Investors are not stupid - and they are risk-averse. They know that if there's no Bitcoin, then there's no Lightning - so their $75 million investment would go out the window. And all the "Core" devs have actually gone on the record stating (in their less-guarded moments, or before they signed their employment contracts with Blockstream) that 2 MB blocks would work fine - even 3-4 MB blocks. Empirical research by miners has shown that 3-4 MB blocks - or even bigger - would work fine right now. So why aren't the Blockstream investors pressuring the Core devs to go to 2 MB now, to remove the risk of Bitcoin failing? If Blockstream did the "rational" thing and agreed to 2 MB now, the price would shoot up, the community would heal, innovation would start happening again. Bitcoin would proper, and Blockstream's investors would have a good chance at making a "return" on their investment. For some reason, Blockstream's investors are trying to stop all this from happening. So we have to look for a different explanation. If the owners of Blockstream don't want to get rich from the Lightning Network, then what do they really want? The simplest explanation is that the real risk which Blockstream's investors are "averse" to is the possibility of trillions of dollars in legacy fiat suddenly plunging in relative value, if Bitcoin were to shoot to the moon. They're afraid they'll lose power if Bitcoin succeeds. In order to provide some support for this radical but simple hypothesis, we have to dive into some pretty nasty and shadowy geopolitics. What do the wars on Iraq and Syria, JPMorgan's naked short selling of silver, and the book "Confessions of an Economic Hit Man" all have in common? Whenever a currency tries to compete with the Fed / Petrollar / BIS  private central banking cartel, the legacy fiat power élite destroys that currency (if the currency has a central point of control - which Bitcoin does have: the Core devs, the Chinese miners, and Theymos).  BIS = the Bank for International Settlements, often referred to as "the central bank of central banks" Trillions of dollars were spent to take down the central banks of Iraq and Libya, because they defied the hegemony of the Fed / Petrodollar / BIS private central banking cartel. https://duckduckgo.com/?q=ellen+brown+iraq+libya+bis And while you're googling, you might want to look up whistleblower Andrew Maguire (who exposed how JPMorgan uses naked short selling to "dump" nonexistent silver in order to prevent the USDollar from collapsing). https://duckduckgo.com/?q=andrew+maguire+jpmorgan And you might also want to look up John Perkins, whose book "Confessions of an Economic Hit Man" is another major eye-opener about how "the Washington consensus" manages to rule the world by printing fiat backed by violence and justified by "experts" and propaganda. https://duckduckgo.com/?q=john+perkins+confessions+economic+hit+man That's just how the world works - although you have to do a bit of research to discover those unpleasant facts. So for the legacy fiat power élite, $75 million to take down Bitcoin (and maintain their power) is chump change in comparison. You all knew that "they" were going to try to destroy Bitcoin, didn't you? Even Jamie Dimon practically admitted as much. https://duckduckgo.com/?q=jamie+dimon+bitcoin Did you really think they would be clumsy enough to try to ban it outright? Private central bankers run this planet, and they have never hesitated to use their lethal combination of guns, debt and psyops to maintain their power. They pay for the wars, they keep people enslaved to debt, and they dumb down the population so nobody knows what's really going on. Print up a trillion dollars here, kill a million people there, brainwash everyone with censorship and propaganda. That's their modus operandi. So we shouldn't be surprised if they they ruthlessly and covertly try to take down Bitcoin. They have the means and the motivation. It was only a matter of time before they identified the three weakest centralized points in the Bitcoin system:
the Core devs
the Chinese miners
And so that's where they applied the pressure. I'm sorry to be rude, but all three of those players listed above are idiot savants / sitting ducks up against the full-spectrum of covert dirty tricks deployed by the legacy fiat power élite - whether it's money, ego-stroking, or pretending to go along with their crazy cypherpunk beliefs that Bitcoin will only prosper as long as it remains small enough to run a node on a dial-up internet on a Raspberri Pi in Luke-Jr's basement. So the simplest explanation is this: Blockstream is a "front company" which has been established for the purpose of performing a "controlled demolition" of Bitcoin. So Satoshi messed up. He messed up by baking in a 1 MB constant into the code at the last minute as a clumsy anti-spam kludge - which could unfortunately only be removed via a hard fork - and which the global legacy power élite have figured how to retain via social engineering directed at clueless Core devs and clueless Chinese miners (and clueless forum moderators). So why is the price is still fairly stable? Heck, I'm so paranoid, I wouldn't even put it past them to try to interfere with investors who might otherwise be trying to send a signal by "voting with their feet". In other words, several observers have commented that the only way to liberate Bitcoin from the cartel of Chinese miners and Core/Blockstream devs is to crash the price. And many other observers are puzzled that the price isn't crashing now that Bitcoin is being strangled in its cradle by Blockstream. Well, this wouldn't be the first time that the Fed / PetroDollar / BIS private central banking cartel sent in the "plunge protection" team to artificially prop up their fragile, centralized, permissioned currency. https://duckduckgo.com/?q=plunge+protection+team Who knows, they could easily have printed up a few million dollars in phoney fiat and given it to players like Jamie Dimon or Blythe Masters who probably have access to the HFT (high frequency trading) tools to keep the price exactly where they want it, for as long as they want it. Manipulating an unregulated $6 billion market would be child's play for them. The point is, we have no idea who is buying bitcoins at this price right now. Or what their motives are. I know that if I were part of the legacy fiat power élite, this is exactly what I'd be doing now: buy off the devs, pressure the miners, encourage the censors, and play with the price - so nobody knows what the hell is going on. Prevent the price from crashing for the next year (so the community won't have a "smoking gun" to reject the Core devs and the Chinese miners)... and prevent it from going to the moon also (so the dollar won't look like it's crashing). Not too hard to do, especially if you have unlimited fiat at your disposal. 2016 is the perfect time to perform a "controlled demolition" on Bitcoin. All the forces in the global economy are now aligned for a massive economic storm of epic proportions. Without Blockstream's interference, Bitcoin's price would be shooting to the moon right now, because it's the only digital asset class free of counterparty risk, compared to all the other garbage floating around in the system:
Deutsche Bank is teetering on the edge of collapse: that alone would be 5x the size of the Lehman collapse. (Deutsche has about $75 trillion in nominal derivatives exposure - 1000x as big as its mere $58 billion in assets. It's probably already bankrupt, and is merely being held together with chewing gum and paper clips accounting tricks.)
After multiple rounds of QE (quantitative easing), the central bankers have shot their wad, and have no tools left to stimulate the economy.
The 8-year US president reign will end this fall - which is when all the financial dirt that was swept under the rug always comes out. (Recall that Timothy Geithner went to Congress begging for the first $1 trillion of the bailouts after the 2008 election, in early November.)
And the Bitcoin halvening is coming up.
Bitcoin is one of the only safe harbors in this oncoming economic storm. So it should be skyrocketing right now - if there were no artificial constraints on its growth. So if Blockstream were not doing a controlled demolition of Bitcoin right now by freezing the blocksize to 1 MB for the next year, then the Bitcoin price could easily go to 4,000 USD - instead languishing around 400 USD. In other words: the USDollar would be crashing 10-fold versus Bitcoin. The only bulwark against Bitcoin rising 10x versus the USDollar is Blockstream's stranglehold on the Core devs and the Chinese miners. Just like the only bulwark against precious metals rising 10x versus the USDollar right now is JPMorgan's naked short selling of phoney (paper) precious metals, mainly via the SLV ETF (exchange traded fund). https://duckduckgo.com/?q=jpmorgan+naked+short+selling+slv (Most informed estimates say that there is 100x more "fake" or "paper" gold and silver in existence, versus "physical" gold and silver. So it's easy for JPMorgan to suppress the silver price: just naked-short-sell "paper" silver. They do this as a service to the Fed, to prop up the dollar. And your tax dollars pay for this fraud.) The silence of the devs Isn't it strange how not a single Blockstream dev dares to "break ranks" on the 2 MB taboo? This unanimous code of silence among Blockstream devs speaks volumes. Devs on open-source projects like this (particularly ones which were founded on principles of "permissionless" "decentralization") would never maintain this kind of uniform code of developer silence - especially when their precious open-source project is on the verge of failing. Most devs are rebels - especially Bitcoin devs - ready to break ranks at the drop of a hat, and propose their brilliant ideas to save the day. But right now - utter silence. This bizarre code of silence which we are now seeing from the "Core" devs must be the result of some major behind-the-scenes arm-twisting by the owners of Blocsktream, who must have made it abundantly clear that any dev who attempts to provide a simple on-chain scaling solution will be severely punished - financially, legally and/or socially. Blockstream has deliberately set Bitcoin on a suicide course right now - and all the devs there are silently complicit - and so are the Chinese miners who submissively bowed down to Blockstream's stalling "scaling" roadmap. But I don't really blame the devs and the miners. I feel bad for them. I'm not really "blaming" any Chinese miners for being used like this - nor am I really "blaming" devs such as Adam Back, Greg Maxwell, etc. Nor do I really "blame" guys like Austin Hill. And I even think guys like Theymos and Luke-Jr "mean well". They're all just being played. They think they're doing the right thing. Their arguments are genuine and heart-felt. Wrong, but heart-felt. This is what makes them so dangerous - because they really sound sincere and convincing. This is why they are the perfect pawns for the owners of Blockstream to play like this. Subtle coercion We recently found out that they locked the Chinese miners in a room for 13 hours until 3 AM to force them to sign an "agreement" to never use any code from a competing Bitcoin implementation that would increase the blocksize. https://np.reddit.com/btc/comments/46tv22/only_emperors_kings_and_dictators_demand_fealty/ Have you ever seen this kind of coercion in an open-source project - an open-source project founded on the principles of "permissionless" "decentralization" - where many of the founders were "cypherpunks"?? The miners and the devs - and Theymos - and guys like Austin Hill - all are passionate about Bitcoin, and they all believe they are doing "the right thing". But they are being manipulated, without their knowledge, by the real power behind Blockstream. Prisoners in a golden cage Strange how we never get to hear what really goes on behind closed doors at Blockstream. We never get to see the PowerPoint decks, we never get to find out who said what. Blockstream's public messaging is tightly controlled. If Bitcoin were to have a "core" dev team, it should have had something like the Mozilla Group, or the Tor Project - non-profits, who answer to the public, not to private investors. Instead we got Blockstream - a private company funded by some of the biggest players of the legacy fiat power élite. WTF?!? If they wanted to develop sidechains and LN, then fine, they should be able to. But what they're really doing is radically changing Bitcoin itself - mainly by freezing growth at 1 MB blocks now, which is choking the system. Depite all this, I still would not go so far as to say that the Core devs and the Chinese miners are really "traitors". At most, they are actually prisoners in a golden cage, who are not even really conscious of their own imprisonment. They're smart people - and in some ways, smart people are actually easier to fool, once you figure out what they believe in. So this is what I really think the owners of Blockstream have done. They've figured out how to manipulate the Core devs and the Chinese miners - and they're happy that Theymos is playing along, censoring the main online forums - so they're able to move ahead with their plan to do a "controlled demolition" of Bitcoin, and it only cost them $75 million dollars. Centralization got us into this mess. The only reason Bitcoin is vulnerable to this kind of "controlled demolition" being performed by the owners of Blockstream is because mining operations and dev teams are centralized - thus providing a single, vulnerable point where the legacy fiat power élite could easily deploy their full-spectrum attack. We finally have a digital asset with no counterparty risk - and they want to take it away from us, so that we continue to depend on their debt-backed, violence-backed legacy fiat. And they're able to do this because the Core devs and the Chinese miners and Theymos were such easy gullible centralized targets. Decentralization will get us out. If you are a miner or a dev, and if you want Bitcoin to survive, then you must go back to the principles of permissionless decentralization. Go dark, release some code anonymously. Release an internal Blockstream PowerPoint deck or some internal Blockstream emails to Wikileaks, exposing what the Blockstream investors are really up to. Otherwise, Bitcoin is probably going to fail to realize its potential - and we'll have to wait a while for truly decentralized development (and mining, and forums) to possibly create a successor someday. If you're a hodler, it would be great if such a phoenix rising from Bitcoin would be a "spinoff" - ie, a coin bootstrapped off of the existing ledger (to preserve existing wealth, while upgrading to a new protocol for appending new blocks). https://bitcointalk.org/index.php?topic=563972.0 But who knows.
Because it helps to decentralize centralization. It does not matter if you are not making a profit because the success of bitcoin is the profit. Go buy a raspberry pi and setup a cheap ass miner. The more decentralized nodes, the better. I bet there will even be a real market for cheap solo miners that people just plug and play. Great way to vote. This shit needs to be more accessible to those who don't fully understand the back-end side of bitcoin, but understand it's importance. Edit: In fact, someone who wants to see bitcoin succeed should only be investing in this. We have to spread out the mining pool. If I had money to invest I would.
Lynx is a new Crypto project that is solving and tackling one of the biggest problems in crypto-currencies and that is the cost to maintain and run the network normally called, “mining.” AN ECO-FRIENDLY CRYPTOCURRENCY Bitcoin’s business rules and energy requirements create an over-reliance on fossil fuels; Lynx does the opposite and strives to solve this problem. For cryptocurrency to be considered a secure platform for exchange in today’s global marketplace, it must be created with global sustainability in mind. GLOBALLY SUSTAINABLE NETWORK Unlike Bitcoin, the Lynx code discourages high-volume mining rigs because the code purposefully lacks incentives to mine it for profit. As a result, the entire Lynx network is designed to operate on a collaboration of low power devices that anyone can run, resulting in a collective global mining cost of only dollars a day. From Lynx’s white paper: LYNX CREATED THE HYBRID PROOF OF WORK SOLUTION. LYNX BUSINESS RULES ENCOURAGE THE USE OF LOW-COST COMPUTING (LIKE A RASPBERRY PI WHICH ONLY CONSUMES AROUND 3 WATTS OF ELECTRICITY) TO MINE THE COIN. AS A RESULT, THE ELECTRICAL COST TO MAINTAIN THE LYNX NETWORK IS A FRACTION OF BITCOIN’S, YIELDING A LOW ENVIRONMENTAL IMPACT. THE EMPHASIS ON LOW-COST COMPUTING ALSO CREATES A MORE DECENTRALIZED, BROAD MINER BASE WHICH STRENGTHENS THE STABILITY AND SECURITY OF THE CURRENCY. AND, THE EASY-TO-USE TOOLS AND BROAD MINER BASE CREATES A MORE EQUITABLE CRYPTOCURRENCY THAT ANYONE CAN USE FOR GENERATIONS TO COME. LYNX WAS DESIGNED TO HAVE MINIMAL ENVIRONMENTAL IMPACT BECAUSE IT’S COMMITTED TO CREATING GLOBAL SOLUTIONS AND MAINTAINING A SMALL CARBON FOOTPRINT. FOR A CRYPTOCURRENCY TO BE CONSIDERED ECO-FRIENDLY29, THE ELECTRICITY REQUIREMENTS TO RUN THE GLOBAL NETWORK (INCLUDING THE HARDWARE AND SOFTWARE) MUST HAVE A MINIMAL IMPACT ON THE ENVIRONMENT.30 TO ENSURE ENVIRONMENTAL SUSTAINABILITY, LYNX DEVELOPED HYBRID PROOF OF WORK (HPOW). LYNX HPOW STILL USES POW BUT MODIFIES IT SO IT ISN’T PROFITABLE AND, AS A RESULT, CREATES AN ENTIRE CRYPTOCURRENCY NETWORK THAT CAN RUN ON ENERGY EFFICIENT, EASY TO SET-UP, LOW-COST COMPUTERS OR CLOUD SERVICES. THIS REMOVES ANY BARRIERS TO ENTRY FOR NON-TECHNICAL INDIVIDUALS OR ORGANIZATIONS WHO WANT TO GET INVOLVED WITH, SUPPORT, AND BUILD APPLICATIONS ON A STABLE AND SECURE CRYPTOCURRENCY PROJECT. FROM THE LYNX WHITEPAPER: HTTP://CDN.GETLYNX.IO/2018-06-18_LYNX_WHITEPAPER.PDF Lynx is listed on CoinMarket Cap here: https://coinmarketcap.com/currencies/lynx/ Watch Ben Wilson the founder of LYNX speak on The Future of Cryptocurrency: Overcoming the Limitations at a recent blockchain conference:
I made a post yesterday about mining with the RPI3 [Here], I stated that it was getting 20 H/s. While at the time this was true. It must have been because it was new. I plugged it in for 5 minutes to get the numbers again just now and it's around 6 H/s. Here is the proof: https://imgur.com/a/zRhDp I used raspbian stretch for the OS and xmrig to mine monero. After a little bit, the RPi3 got very hot, you can see that in the image in the grey square where it says 100%. It's the CPU usage monitor, which I usually see mine running at around 1%-10% between idle and normal usage. It's a simple install to get it up and running. The only problem I found was remembering to sudo -i and cd into the proper folder (build) and then I could run xmrig without getting an error. I still don't know how to change the config folder so I can just have 1 rather than 4 threads running. Based on this and plugging this into Cryptocompare , (I have free electricity) I would be making 0.001560 XMR a day, roughly 50 cents a month, and 5.70 USD a year. Not much. I next want to take on making a raspberry pi mircocluster. With my RPi3 as the controller and 4 RPi0's as the nodes. I am currently downloading the software to make it and flashing the sd cards, just waiting for the RPi0's to come in the mail, along with the cluster hat. I was also thinking of making a RPi3 miner that can mine in a pool and if your feeling lucky, you flip a switch and the RPi3 solo mines for that current block. A short bit about me, I know nothing about computers, I know nothing about cryptocurrency(and I still understand that I'm not going to make a profit!). If you ran into me on the street, this stuff would be the last thing I would talk about, I'm more into the gym/fitness. I figured I would expand my mind into something I probably wouldn't like. But I am enjoying all of this! I have bought into XMR,BTC, and Raiblocks. What got me into this was reading about bitcoin a few years ago, I messed around with faucets and got 30$, I heard about bitcoin on the news again and I was able to get back into my wallet which was then 200$. I used that money to buy into XMR,BTC, and Raiblocks. Ill keep posting my findings and projects I'm looking into next! I would like to see more people posting projects, I enjoy seeing people helping each other on here and what others are doing. Thanks!
Raspberry Pi Bitcoin Miner ( Monero XMR ) What is Bitcoin Mining? With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine. Why is Monero Coin ( XMR ) ? Unlike many cryptocurrencies that are derivatives of Bitcoin, Monero is ... Mechanical designer, writer, author of Idiots Guides: 3D Printing. I like going outside sometimes too. www.cameroncoward.com @cameron_coward Yes, You Can Mine Cryptocurrency on Your Raspberry Pi When Bitcoin first took off, the concept of mining currency on your computer was pretty foreign to most of us. The idea is t We know only some of the variables so it's hard to make a blanket statement. The chip mines at 50GH/s in the configuration given to consumers, while consuming 8W, for the whole device the consumption is likely in the order of 15W at the power point accounting for the consumption of the Raspberry Pi and conversion losses.. Power cost varies worldwide, but here's a general idea, all amounts are ... Would mining cryptocurrency with a cluster of four Raspberry Pi 3's be any more efficient than just adding them to an existing mining pool and having them all mine separately? Would a Raspberry Pi . Stack Exchange Network. Stack Exchange network consists of 176 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge ... Although cryptocurrency mining on the Raspberry Pi might not be hugely profitable, it’s not an entirely expensive endeavor. Thus, it’s the perfect project to learn more about cryptocurrencies, from how they are mined to which coins exist. Notably, it’s a great means to explore alt-coins like Bytecoin and Magi. Plus, mining crypto coins on a Pi is another opportunity to probe Raspberry Pi ...
Litecoin Mining Profitability in 2019 Antminer L5 ...
Are USB Bitcoin Miners profitable right now? This video will show you all of the facts you need to know about usb bitcoin miners and how much money they actu... Buy Raspberry Pi 4 Model B 4GB: https://amzn.to/2tlBfGW How to Setup a Raspberry Pi 4 Bitcoin Mining Rig w/ Bitmain AntMiner U3: https://youtu.be/dPWTSytzN7g... SUBSCRIBE FOR MORE HOW MUCH - http://shorturl.at/arBHL GekkoScience NewPac USB Miner - https://bit.ly/2RIQgdX GekkoScience 8 Port USB Hub - https://bit.ly/2x... post with commands in written form: https://3dpeg.net/archives/69 Timestamps: 00:00 - Intro 01:00 - Setting up a wallet 05:15 - Joining a mining-pool 08:03 -... Is Litecoin mining profitable in 2019? Lets review LTC mining profitability straight from the creator of Litecoin, Charlie Lee on the latest Litecoin scrypt ...