Bitcoin Mining with a Raspberry Pi - Lonewolf Online

$SLB - Solar Bankers - 180k market cap - p2p energy trading, solar panel producers & cloud storage providers

Not financial advice, I recommend you to do lots of research before you buy anything. This post represents my own opinion and is based on information published by the Solar Bankers team on their website or blog posts.

Tokenomics:

Hey guys,
I wanted to show you a project, that I have been following for the last two years and that hasn't stopped developing although the project hasn't seen much interest from the crypto community lately. We are talking about Solar Bankers.

What is Solar Bankers?
Solar Bankers was founded in 2008. Prior to its initial coin offering in late 2017, the company spent multiple years on the research and development of photovoltaic (solar) modules. They have developed an innovative photovoltaic solution, on which they hold international patents for. They also aim to pair this technology with smart meters, to enable customers to produce and consume energy in a decentralized fashion through an energy trading app, which will use their token SLB as their application currency.

Solar Module:
Their flagship product is their solar panel DPV (Deflecting Photovoltaic), which is using a holographic foil in combination with the use of a significantly lower amount of silicon than in regular solar modules. In a pilot project in Dubai in 2018, the modules were tested to produce up to 60% more energy than standard installations. The technology has been patented in 2016, but is still in development. If you want to read more about the module and look into the patent:
https://solarbankers.com/module.html

Solar Nodes/Miners:
Another product, that is not in development anymore, but has been manufactured and shipped since 2018 is their solar node. It consists of a solar panel, a battery and a Raspberry Pi, enabling the device to run on solar power only. These nodes can be bought from Solar Bankers and are used to confirm transactions on the blockchain.
https://solarbankers.com/solar_node.html

Cloud Storage Solution:
They also developed a cloud storage solution, where users can store their data (videos, documents, pictures, etc.) and access their files from wherever they want. The cloud storage solution utilizes their token $SLB.
https://solarbankers.com/get_started.html

Blockchain technology:
The project operates on its own blockchain based on Skycoin's blockchain technology. Therefore, transactions are nearly instant and tokenholders are incentivized with a parallel currency called SLB hours (each SLB receives 1 SLB hour per hour). These SLB hours can be used to pay transaction fees, which makes transactions on the Solar Bankers network basically free.

Exchanges/Liquidity:
Not being an ERC-20 token but operating on its own blockchain made it harder to get listed on exchanges, so the exchange situation sucks. The token is currently listed on only one decentralized exchange called XBTS, that is not tracked by Coingecko or CoinMarketCap. Therefore, the project is also not listed on those sites. Another point worth mentioning is, that the project has been offering to sell tokens over the counter for 25 cents per token, which is currently way above market price, but could limit the price from shooting up, although I think they might change the rate of OTC deals if that happens. This is the most liquid exchange pair, where SLB is traded against Bitcoin:
https://ex.xbts.io/market/XBTSX.SLB_XBTSX.BTC

Partnerships:
The team has announced many partnerships over the last four years, of which I think the ones in Dubai and Turkey are the most significant. In July 2017, the team kicked off a pilot project in Dubai together with the Dubai Electricity and Water Authority (DEWA) to do performance testing of their devices in a high temperature environment. Their installation was measured to produce 60% more energy than standard solar panel installations. They formed another partnership in Turkey in 2018, where they received a grant from the Turkish government to develop a pilot of their p2p energy solution in Izmir, where they want to form a micro-grid system.
Dubai: https://www.youtube.com/watch?v=4Gzq79T67tM
Turkey: https://medium.com/@solar_bankers/update-from-turkey-421242e42958

Recent update:
Solar Bankers published an update last week, where they announced that they have finalized a major restructuring. The team now consists of 11 members and is mostly based in Turkey. The work surrounding the energy trading platform has been accelerated since the beginning of 2020 and the team received another grant from the Turkish government. The blog post includes pictures of the smart meter and IoT installations and pictures of an alpha version of their p2p trading platform, so it is definitely worth checking out:
https://medium.com/@solar_bankers/solar-bankers-update-e4ee3e9800bf

Wrap-up:
If that all sounds interesting to you, I would really recommend you to join the Telegram chat and talk with everybody there if you have any questions. The CTO is also very active in the chat and usually responds to questions. So, come join the chat:
Telegram: https://t.me/solarbankersICO
submitted by Footballelixir to CryptoMoonShots [link] [comments]

Zhuoer Jiang: Talk about the difference between BTC, BCH and BSV

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.
submitted by paulcheung1990 to Bitcoincash [link] [comments]

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
submitted by Afraid_Balance to earnbitcoin [link] [comments]

A 14-year-old's experience with Bitcoin

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)

Humble Beginnings

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.

The aftermath

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.
submitted by xx_riptide_xx to Bitcoin [link] [comments]

Spock & CoinEx AMA Recap

Spock & CoinEx AMA Recap

https://preview.redd.it/1lagrcjnc9o31.png?width=1074&format=png&auto=webp&s=3136db9ca685dc17477d307df722e5b73ba80030
Spock Network is a decentralized storage platform. In the early stage, Spock Network mainly stores Proof of Capacity (POC) consensus data to effectively utilize the most suitable decentralization technology to encourage miners providing hard disk space. Recently, Spock has been growing rapidly and getting listed on four famous exchanges including CoinEx. On Sept. 19, CoinEx will launch Accelerator for Spock, allowing users to subscribe SPOK with 0.0075 USD. Besides, in order to help our users to dig more about Spock, we have invited the open source code contributor of Spock, Titian Xie, to throw an AMA among our community. Below is the recap of the AMA and enjoy your reading!

Q1: How will Spock solve the existing problems in blockchain?
A: Spock is a decentralized storage application network. Judged from the current development of blockchain technology, PoC is the only choice for a decentralized incentive mechanism in a distributed network composed of a large amount of hard disk space and bandwidth. On one hand, this solves the problem of excessive power consumption in the current mining industry, and on the other hand, it solves the problem of fair competition among a large number of existing hard-disk mining machines. At the same time, on that basis, Spock also supports Solidity smart contracts, which makes the entire ecosystem more prosperous.
Q2: Could you please say something about the team?
A: The core members of our team are all early users on Bitcointalk forum and developers of Burst. They are very familiar with the technology development trend and the details of the bottom of the blockchain technology. Even I with such a R&D background could only throw myself down at their feet in admiration. Their ideals are also very pure, that is, to make Spock a community coin like Bitcoin and Litecoin.
Q3: Community building has just started. What will you do to build the social media that remain active and continuously focus on Spock?
A: Spock is a decentralized application platform. The community also relies on spontaneous word of mouth. Since Spock was put on the test net and later on the main net, many miners and holders have spontaneously joined in to become owners, and maintained and promoted the community. The upcoming Solidity smart contracts can be carried out by polling among the holders, and members of the community will vote through the smart contract to determine the project function expansion and community governance.
Q4: Spock is a decentralized storage application platform, so what advantages does it have compared with the traditional centralized storage platform?
A: Traditional centralized storage platforms generally adopt cloud storage. Most of the data is stored on a few cloud platforms, which leads to serious centralization problems arising from data accumulation. There are also problems including higher cost, slower transfer rate, and poorer data security. The decentralized storage application platform encrypts and distributes data through a distributed network, meaning that no party, other than the data holder, could get access to the data, thus ensuring security. And one of the key issues is that the open decentralized platform can do better in protecting private data. As with the case of the assets of the digital assets of Huobi, the private key represents the ownership of the assets, and, on the decentralized storage platform, it can represent the disposition and access rights of the data.
Q5: Spock adopts the consensus mechanism of PoC. What advantages and disadvantages does PoC have compared with PoW and PoS?
A: In terms of resource usage, PoC is just between PoW and PoS, unlike PoW which consumes a lot of power, or PoS that almost costs nothing. Besides, since the core mechanism of PoC is similar to storing the “hashrate” of PoW on the hard disk, it also makes it possible for the mining equipment to mine in different projects at the same time, provided that several different projects use the same data structure.
Q6: We noticed that Spock also introduced the PoS mechanism on the basis of PoC. What is the consideration?
A: With the POS mechanism added in SPOCK, when a miner package a block, if its address balance satisfies the condition, he or she get get all the proceeds; otherwise, the proceeds will be reduced, and those that fail to meet the conditions will be destroyed. So in my opinion, developers introduce POS mechanisms to create a more equitable and sustainable ecosystem.
Q7: What will the team do to attract more developers to join the Spock ecosystem?
A: Spock is the first public link that supports the Solidity Smart Contract and has been put on the main net. It allows developers to port the DApp on the Ethernet to the network at a very low cost, while developers can design the mining and pledge mechanisms for the tokens of PoC distributed on this network.
Q8: What is the form of Spock mining? What are the conditions for miner application?
A: In SPOCK, mining is carried out through the storage device. First, you write the result of the hash calculation to the device, and reduce the huge hash calculation required in PoW algorithm by retrieving the data in the hard disk. Only a small amount of hash calculation will be required in execution stage. You can mine as long as you have storage equipment and meet the hashrate conditions. Ordinary miners just need an ordinary computer with a hard disk and access to the internet, then they need to go through hard drive mapping, download the wallet, install nodes and so on before mining.
Q9: I am a Windows phone user. How do I download a SPOK wallet?
A: At present there is only the Android version. Versions of other platforms are subject to the official arrangement.
Q10: Miners don’t know how much hashrate they have or how much they could pledge.
A: Check http://www.spockpool.com. There is a calculator to check the amount of pledges required for the time being.
Q11: Does the mining cost anything or a certain amount of SPOK tokens?
A: Now we have a market for cooperative mining. Miners can borrow tokens from owners for mortgage.
Q12: Is there a detailed tutorial for mining?
A:https://www.spockchain.org/download/SpockChain%20Mining%20Tutorial%20V1.3.2.pdf
Q13: What are the advantages compared with Lambda or such? The larger the hard disk, the higher the hashrate?
A: My suggestion is to experience the mining process on both official sites so you may understand the differences between them.
Q14: Can we use the Raspberry Pi to mine at home?
A: Yes, theoretically. Yet the weak computing power of Raspberry Pi itself may affect efficiency in hard drive mapping.

This is the end of the sharing. See you next time!
If you have any suggestions, please submit a Ticket here: https://support.coinex.com/hc/en-us/requests/new
submitted by CoinExcom to Coinex [link] [comments]

Hash Rate in the News - PoW vs. PoS – 431 OMG!

Hash Rate in the News
With the announcement that Bitmain will offer ASIC miners for Ethereum, climbing hash rates are in the news. Briefly, hash rate is the number of hash calculations made per second across an entire cryptocurrency network. For Proof of Work (PoW) networks (we will get to Proof of Stake below) hash rate scales linearly with carbon footprint and Proof of Environmental Damage.
Let’s look at some current PoW hash rates:
Bitcoin 25.5 EH/s (quintillion), or 25,500,000,000,000,000,000 hashes per second.
Ethereum 256 TH/s (trillion), or 256,000,000,000,000 hashes per second.
Now let’s look at environmentally-friendly Qtum Proof of Stake (PoS) mining. For Qtum PoS mining, each full node securing the network does one SHA256 hash calculation every 16 seconds. We can easily calculate the network hash rate for Qtum as approximately
6,900 nodes / 16 seconds = 431 hashes per second!
This uber-low hash rate also explains why Qtum can be successfully mined with minimal computer resources, such as on a Raspberry Pi.
Save the hashes, save the environment,
Jackson
blog post on Medium
submitted by realJB395 to Qtum [link] [comments]

Please help me understand why a small block size increase isn't possible

I'm a long-time Bitcoiner, maximalist, small(-ish) blocker, etc, but I'm concerned for Bitcoin's future given it's being attacked from every angle, and I'm having a hard time understanding why a small block size increase to buy us some time until layer 2 solutions are mature isn't possible / reasonable.
A few points/questions:
  1. The orphan rate is apparently now at essentially 0% since miners upgraded for segwit activation in June: https://blockchain.info/charts/n-orphaned-blocks Isn't this the primary way we can measure whether block propagation latency might lead to miner centralization? Doesn't it suggest a small increase is relatively safe?
  2. I run a full node, and want to continue to do so, but I don't expect be able to run a full node on cheap/old hardware forever. What use it to me if I can run a full node on a $30 Raspberry Pi if a single transaction fee is $30 (or even $5)? What's wrong with users who do low value transactions just doing SPV verification with a set of full nodes that are unlikely to collude against them?
  3. Storage space and initial sync time for full nodes are currently a concern, but why does every full node need to sync and store the entire history rather than just the block headers, UXTO set (along with a cryptographic commitment to the current UXTO set in each block header), and a modest number of recent blocks to handle reorgs (say, 1 week worth)? Then the initial sync size is headers (40MB) + UXTO set (3GB) + 1 week of blocks (1GB), rather than the entire blockchain (148GB).
  4. Even with layer 2 solutions, we're still going to need on-chain transactions from time to time, and by all calculations I've seen the current block size will be too small even with widespread layer 2 adoption. If we need it eventually, and it's safe, why not do a small amount of it now to buy us some time?
Thanks.
submitted by lightwad to Bitcoin [link] [comments]

BBPWebMining.com

TOTALLY OPEN TO SUGGESTIONS AND FEATURES!
Get BBP from a miner in a browser on any device that takes decent javascript.

phones, raspberry pis, wierd computers, you get the picture
Website
BBPWebMining.com

Putting an address to the url (or submitting one) will cause the miner to use the autostart parameter.

Mine directly to Your Address
http://www.bbpwebmining.com/?u=YOURADDRESS-------------- 
Mine directly to Orphans Address
http://www.bbpwebmining.com/?u=BB2BwSbDCqCqNsfc7FgWFJn4sRgnUt4tsM 
Mine directly to My Address
http://www.bbpwebmining.com/?u=BKNBGJPnaxJRU415wUU6yEJuxxwwTEUsVn 
IFrame for Websites - Replace YOURADDRESS
 
IFrame for Websites - Orphans Address
 
IFrame for Websites - My Address
 
My Faq:
Q: Who Made This? A: I did. BKNBGJPnaxJRU415wUU6yEJuxxwwTEUsVn Q: How does this work? A: Short answer, your mining XMR, im giving you BBP. Q: What are your rates? A: Fair, self-evident, not hard to figure out. Q: Why? A: BBP - Orphans - Etc. Q: What is BBP - Bitcoin - Cryptocurrency? A: biblepay.org - bitcoin.com - youtube.com Q: Is this legit, when do I get paid? A: Yes! you could receieve your payment between 1 min and 24 hours. typically quick. Manual. Q: Does this work on AKA such and such device? A: Probably (javascript) Hit the button and find out. Q: Can I have a copy of your script? A: No. Q: Can I purchase your script? A: Maybe. Q: Whats The Meaning Of Life. A: In This Reality, God Loves Us So Much He Sent His Son To Die For Us, So We Could Be Saved! Q: Whats The Meaning Of Life. A: The Love Of God. 

BBPWebMining.com

PS

Im live on the only BBP live chat from another user, case you got questions.

http://anadoe.com:3000/channel/biblepay-main

DONATE: BKNBGJPnaxJRU415wUU6yEJuxxwwTEUsVn
submitted by requiredtruth to BiblePay [link] [comments]

Monero mining, the road to hell.

You know it started out innocent enough. One friend at work started talking innocently about Monero and before I knew it I had hooked the work PC up to Minergate and had started mining. After I day I saw Moneros slowly ticking in and felt that it needed to go faster, so I downloaded the client as well on my gaming PC at home, but I wasn't able to use the graphic card, the Moneros were still ticking in at a too slow rate.
I did some more reading and found out that Minergate was the devil, that the way to go about this was to set up my own wallet and mine using a client, directly toward a pool. First I created a web-wallet, but then I remember MtGox and all the trouble with bitcoins being lost, so I created a shell wallet on my file server at home and downloaded a few clients, compiled, compared, tuned and after a while I started to see some real Monero dripping in. I managed to get the NVidia miner up on my gaming rig with the juicy 980Ti card and that really made the difference, but I wanted more.
I work with grid solutions/high performance computing and at work we have a lab where I can basically set up whatever equipment that I want (within reason) and latch on to work's power grid. I decided to set up a dual GPU system and just leave it running in the lab area where we have the consoles and do general close proximity work to make things work in the real lab. I did not have a casing so I ordered everything I needed and after some troubleshooting (BIOS did not support the Kaby Lake CPU) I got things up and running on 2xRX480 cards, nicely hashing in on about 630H/s on each card.
In the mean time, to maximize my Monero flow I had turned every device, work and private into CPU and GPU miners, every clock tick squeezed for maximum utilization and at one point I even ran clients on useless Raspberry PIs, slow file servers and Beagle Bone Internet of Things cards, yielding no more than 3-6 H/s. It all added up, but I still needed more.
I started looking into building a real mining rig. I ordered an AMD Motherboard, more PSUs, CPU, RAM, USB risers, etc. and I got a rig frame flown in from China at a reasonable price. In the meantime I had already ordered another RX480 which were idling on my work desk while I was building the rig. The rig was being set up at my work desk, sitting next to my work PC which also was mining Monero at full capacity when I wasn't at work. GPU mining needs to be off if the system is to be used without severe graphics lag.
I had installed 2 GPU clients on my home system as well, one that really bogged down the system, rendering it unusable for anything except mining, the other setting I could easily do other work, web-browsing and such without too much lag from the graphic cards. Whenever I left for work or went to sleep I put the heavy load version on, and when I got home from work or woke up in the morning, my living room was warm and cozy, at least 4-5'C above the usual.
By now I had gathered 5 GPUs which had completely filled up my mining rig. Achievement unlocked! Although I still had some debugging work to do on it (random crashes) it still would run smoothly most of the time. The Monero is pouring in, about $10 USD worth of Monero each day, from both my rig and the myriad of fileservers, gaming and work PCs, and stupid little devices that were designed for completely different things. The value of Monero had increased from about $12 USD to $30 USD during this time, everything was with a promising outlook.
Then, yesterday it occurred to me, I did move 2 cards from the first PC that I bought, to the mining rig, which means that I could get two new cards and put into that one. So, I have just ordered myself two more RX480 (which by the way are much nicer for Monero mining than the RX580s) and as I am sitting here, having just ordered those cards, I am already planning the next step, moving the first motherboard out of the PC and latch it on to a rig and connect 2 more cards (it's a mATX motherboard with 4 PCI-e slots)
But now, I am wondering, where will this all end? Have I become a Monero mining addict? How many rigs and graphic cards do I need to finally feel satisfied? When do I get enough? And will this short term bankrupt me completely? Well, at least I am not using money on booze, drugs or hookers, but it still feels like an addiction.
Any words of advice or comfort appreciated...
submitted by bloodwire to MoneroMining [link] [comments]

Making pooled mining immune to 51% attacks, selfish mining, etc. by bundling an SPV client into mining software.

This idea has been floating in my mind for a while, but I haven't seen anyone else mention it. Figured it was worth discussing.

The problem

The threat posed by pools is that they indirectly control large amounts of hashing power. Miners are mining blindly on whatever header the pool gives them, and hence can be made to attack the network at their leisure.

GetBlockTemplate

GetBlockTemplate was supposed to fix this problem by allowing miners to do their own transactions (and making what they're mining completely transparent). This works, but adoption is low for a few reasons:
TLDR: GBT is a great way to neuter the ability of pools to do bad things™, but it isn't widely deployed due to the resource requirements and setup effort of using it properly.
Most/All the big threats posed by a large pool boil down to:
In both cases, the fact that this is occuring is actually detectable regardless of mining protocol (getwork,stratum,GBT), because the parent block hash is part of the header the miner is hashing. So the information you need to know whether you're being used to attack the network has been available all along.

The suggestion

By bundling an SPV client into mining software, all miners can verify that they're building on top of a block that is:
  1. Known to the network (blocking selfish mining).
  2. The tip of the longest chain (blocking orphaning of other blocks/51% attacks).
If this isn't the case, they can switch to their backup pool.

Advantages of the approach:

Disadvantages:

Does this work, or am I missing something obvious?
submitted by ninja_parade to Bitcoin [link] [comments]

To arms Bitcoin community! Help us to complete this mining installation for the Zürich MoneyMuseum. We are not asking for funds. Only your expertise needed! 20$ tip if you give us the relevant clue to solve or mitigate our main problem. Nice pictures of the exhibition inside as well…

Edit:
A big thank you to all people who helped us we can now mine true pps with diff1! The people in this thread which have helped most have been awarded. I want to mention also the operator of btcmp.com denis2342 and Luke-Jr.
Actually looking at the miner screen in the Linux terminal helped a lot ;-). The pool constantly resigned to stratum with variable difficulty. We can now mine true pps with diff1. Getwork with long polling seems to be default after disabling stratum...
We will probably post again, when there is a video of the installation in action...
Again many thanks. Learned a lot.
Edit: Thank you for all the answeres so far! We will try different things now and report back. Tip bounty will be distrubuted as soon as we found out what finally does the trick. Ths could take a few days. The offerd tip will be distributed and very likeley a few others as well.
First of all, let me tell you that the Bitcoin Exhibition at the Zürich MoneyMuseum is most likely the biggest and most diverse of it’s kind. Please read more about the museum and the exhibition below.
Help us solve the following problem we experience with our “Muscle Powered Proof of Work” installation:
Me and a friend have invested a lot of time to build an installation for the Museum. It is basically a 10GHash/s miner and RapberryPi which is powered by a hand generator (Maxon DC motor with planetary gear). Here are some pictures of the installation, although not entirely put together yet. There are still some changes planned.
https://www.dropbox.com/sh/0qcvl3wu4romhnt/AAAYF08lnVAy6W6KEepE7e2Ua?dl=0
Now let’s get to the core of our problem:
We are mining at the getwork diff1 pool btcmp.com as it is a true pps pool with getwork diff1. The visitors in the museum can power the generator for 2-3min and see directly how many Satoshis the "network" (actually pool but we don't want to confuse the visitors to much at that point) has given the museum for their work. This all works well so far but one problem remains. Sometimes the pool does not get a share from us for more than 40 seconds or even more than 60 in some cases. I have calculated that with 8.4 GHash/s we should find a share about every 0.5 seconds in average (diff1). I think when the pool gets a share it gets all the hashes as it then accounts for several Satoshis. Statistically we get per minute what we should get in theory. We would very much like to lower the time between the accepted shares by the pool, however. This would help to make the overall experience much smoother for the visitors.
Please look at this screenshot from MinePeon and answer some questions:
https://www.dropbox.com/s/lb1jei4trc9kqe5/MinePeonScreenshot.png?dl=0
We see that we get a lot of diff1 hashes. However, only 11 shares/packages have been accepted. The Is there a possibility to set the miner SW so it submits to the pool as soon as a share is found? It seems to send them in packages which sometimes have 4-5 seconds in between but sometimes a much as 80 seconds. I would like to submit packages of hashes much more often. How can this be influenced?
What exactly are the Getworks (GW)?
What exactly are the Accepted ones (Acc)? This is where the TipBounty is. Help us to get a better Acc/diff1 ratio. Best would be 1:1.
What exactly are the rejected ones (Rej)?
What exactly are the discarded ones (Disc)?
What exactly are the difficulty one hashes (diff1)?
Now some of these questions seem very very basic but it is important for us to understand what these are and how we can influence these. We have a 1:1 correlation between the Acc and the pool side acknowledgement of shares/packages. So whenever the MinePeon shows one more for this value the pool value for last submitted share goes to “moments ago”.
Does the miner SW have a setting where we can set after how many diff1 hashes a package of hashes is sent to the pool? If no, do you have another idea why so few are sent? Ideally we would set it so the diff1 hashes are sent every 5 seconds or so, probably even more often.
Is stratum with fixed diff1 possible? If so, would it be better to use stratum?
Are there critical settings if we should know of? (we have tried --request-diff and --no-submit-stale)
We are using BFGMiner on MinePeon if that matters. We could switch to CGMiner if that would help. Any help is very much appreciated. The museum is doing a great job explaining Bitcoin basics. We had special focus on interactive learning and have several things to underline this.
I hope to hear back from you so we can improve our installation. Please don't hesitate to ask if you have further questions. We are both not mining experts.
Thanks for reading and AMA.
SimonBelmond
Current features of the Bitcoin exhibition at the Zürich MoneyMuseum:
Current Features:
  • Life screen with various stats/charts/parameters/transactions…
  • Printed infographics.
  • Muscle powered PoW: Hand generator with 5v and 3.5-5A output, Raspberry Pi, MinePeon, 5x Antminer U2+ plus a screen to show the hash-rate at the pool and/or in MinePeon web interface. This screen will not be hand powered. This installation will complement their coining die (go to 1:27 to see what I mean).
  • The Bitcoin mining evolution (CPU, GPU, FPGA, ASIC)
  • A few short (2-3 minutes) interviews.
  • Other wallets, Trezor, PiperWallet
  • ATM Prototype, functional
  • MoneyMuseum Bit-Cards
  • PiperWallet to use.
  • Casascius and other physical Bitcoins, Wallets (also some commemorative coins), Paper wallet like one out of the first Bitcoin (A)TM ever
  • Bitcoin Quiz
  • 12 Picture tours
    • Bitcoin for beginners
    • Bitcoin advanced
    • Debunking 13 Bitcoin myths
    • What you definitely have to know
    • The history of Bitcoin
    • Bitcoin und traditional forms of money
    • Alternatives to Bitcoin
    • Citations about Bitcoin
    • How do I open an account?
    • How do I get Bitcoin?
    • Bitcoin community and economy
    • Bitcoin as a platform
I see this as a good opportunity for Bitcoin, so let’s embrace it. I am especially excited to compare the traditional forms of money which used proof of work to the new money which also uses proof of work. I think in that context it will be much easier for the visitors to value this concept.
A lot of schools and other groups book guided tours at the museum. It is open on every Friday from December 05. On. Entry is free of charge.
Edit:Markdown, typos
submitted by SimonBelmond to Bitcoin [link] [comments]

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 [1] 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).
[1] 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:
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:
https://duckduckgo.com/?q=deutsche+bank+lehman
https://np.reddit.com/BitcoinMarkets/comments/45ogx7/daily_discussion_sunday_february_14_2016/d0015vf
https://duckduckgo.com/?q=china+capital+flight
https://duckduckgo.com/?q=NIRP+Negative+Interest+Rate+Policy
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.
submitted by UndergroundNews to btc [link] [comments]

What's next for bitcoin

Here's a brief list that's just a fraction of the positive news. Does anyone have anything to add to the list or any suggestions on things to change?
Future
Videos that really explain where we are headed
submitted by BillyHodson to Bitcoin [link] [comments]

Log of AMA with Skycoin

boldninja Let's all give a warm welcome to @synth from SkyCoin.net and for taking the time to do this AMA
synth *hello
mike Hi Synth
jakethepanda Hey @synth
thrice.pi Hey synth
dr10 Hi
boldninja I think we can start - you guys know the drill. Give him some time to respond (no more than 2-3 questions on backlog so he can catch up)
dr10 How would you - shortly & in easy words - sum-up the advantages of SkyCoin to magazines and non-crypto people?
mgaruccio Can you explain a bit about the mesh net? Is it just an mpls network between nodes or is there something deeper going on?
michaelthecryptoguy Whassup @synth
tranzer hi synth. I have a question - are those coins that are not in circulation in any cold wallets since only a portion is currently available according to CMC? What would you say is the 1 unique feature that Skycoin has?
synth It is very difficult, because Skycoin is a very large project and already has +6 years of development. Different parts of the project have different objectives.
The cryto, coin part is about solving the problems with the existing consensus algorithms. Being able to do +300 transactions a second, transactions in seconds instead of minutes (faster than credit cards), eliminating miners, eliminating block rewards (eliminating inflation) and eliminating 51% attack and the other problems with mining.
then there are other repos and experimental projects under github.com/skycoin such as a meshnet and distributed VPN prototype, where people will be paid coins for forwarding traffic. Also prototypes of distributed social media application, with peer to peer data replication and different experimental projects. Research into immutable data structures for next generation internet. Some of them are very radical.
dr10 How does the Network consensus algorithm Obelisk work and differ from widely known algorithms like Proof of Work and Proof of Stake?
mgaruccio So how much exists today? Could I build an app on the platform if I wanted to?
mike In terms of the rate of progress, what is currently your greatest limiting factor - like funding, manpower, currently available technology?
synth
Can you explain a bit about the mesh net? Is it just an mpls network between nodes or is there something deeper going on?
It is not actually a meshnet. It is software defined networking, it is much more powerful than just meshnet. Its a new type of networking and new completely new protocol and networking namespace, independent of the existing internet.
It supports source routing, while the existing internet does hot potato routing, so never achieves optimal latencies.
It supports multi-homing, which IPv6 does not (Which is critical for when we have gigabit or terabit networking and multi-redundant bandwidth paths)
It has default oppurunistic crypto, both link layer and end to end; so everything is encrypted by default, unlike the current internet.
It has store and forward networking and will operate in Africa or even under conditions where latencies are in the minutes or hours and packet loss is excessive. Where existing protocols cannot operate reliability. It is much more robust than IPv4/IPv6 or TCP/ip
It has improved privacy. If a packet takes a route that is 10 hops, each hop only knows the previous node in the route and the next node in the route. It is not like IPv4 where each packet gives the source and destination. The privacy level is something that does not exist on the current internet.
IP addresses are replaced by public key and no one can read traffic to a destination, without knowing the private key of the public key that identifies the destination. The system does not need 3rd parties or certificate authorities. The design is a revolution.
are those coins that are not in circulation in any cold wallets since only a portion is currently available according to CMC?
The coins are locked into 100 addresses, each with 1 million coins each. And they are released sequentially.
There is a complicated locking procedure and releasing new coins requires unamious consent and a shared secret among a group of developers. Anyone in the shared secret group can block distribution of more coins (to stop the problem that killed NXT). So by design the coins were supposed to be difficult to distribut, there had to be a good reason or justification before a distribution would be approved.
mike What are the hardware requirements to operate a wireless Skywire (the name for the protocol described above) Node?
arc-over-water nxt i think is doing ok..
synth
How does the Network consensus algorithm Obelisk work and differ from widely known algorithms like Proof of Work and Proof of Stake?
PoS and PoW use miners. Miners receive new coins every block as a block reward. So miners are making money and will fight to control the network. An everyone will suffer because the newly created coins represent inflation.
Skycoin was designed to eliminate mining and eliminate the inflation. No block rewards, no new coins. And we needed to develop a new consensus algorithm to do that and there are only a few methods that work, for these constraints. The consensus algorithm is based upon Ben-Or's randomization procedure for achieving consensus in a distributed system, with some improvements for detecting adversarial or malicious nodes who are trying to prevent the consensus process.
There are white papers on skycoin.net about the specifics. I would call it "network consensus" and it uses a sort of Web of Trust (WoT), where if the people creating blocks are doing a bad job or attacking the network, then the community can get rid of them. At the same time, the people who control the network, do not have any real power to attack the network except by slowing down transactions and being annoying, so even if they become malicious the only issue is how to get rid of them and select new people.
mike Any idea when Skywire will be released and ready to test on hardware nodes (testnet or mainnet)?
mgaruccio So if there is no block reward what is the incentive to run a node?
vega What will be the actual function of Skycoin (the coin itself)? Will the coin be used as currency, as transfer of value in and between all these various developing functionalities, semi-separate projects to tie them all together or it's function will be more limited?
michaelthecryptoguy Do you have an idea on the specs of a node that would be required? In the beginning? What about with 10,000 users? (edited)
synth
nxt i think is doing ok..
There were three people that each owned 30% of the coin. One decided he wanted out and began dumping. NXT was over 150 million I think. When he started dumping, it basicly killed NXT.
Skycoin's distribution was designed to stop dumping by the founders and early people.
After Skycoin gets to 30% of the total coins distributed, there will probably a hard time lock on the remaining coins, so that a maximum of 5% of the remaining coins can be released per year. So the distribution for the other 70% of the coins will take a minimum of 14 years (and could be longer).
We cannot even sell the rest of the coins, because if we sold 10% of the total now at $5 per coin, it would be 50 million or something and we cannot spend or even use that amount of money. Not at this stage.
Ethereum spent 30 million or 70 million in their first year or two after the ICO and then nearly went bankrupt. Silicon Valley wages and offices etc. We have been very conservative and have kept costs down and kept them responsible. Now we have coins like EOS and they want to raise a billion dollars and have not produced anything yet, do not hav a blockchain and I have no idea what they would spend that money on, but they are throwing $350,000 parties in time square for marketing/PR etc...
arc-over-water what prevents you from selling? anybody can spend that amount of money?
nxt is a newer platform than sky, market value is $220 million plus $166 million, I get what you are saying but the evidence is wrong. Community is huge and active in Nxt. But you say it is killed, i dont get it?
synth
What will be the actual function of Skycoin (the coin itself)? Will the coin be used as currency, as transfer of value in and between all these various developing functionalities, semi-separate projects to tie them all together or it's function will be more limited?
Yes. Bitcoin has no purpose. An altcoin does two things - check your balance - send money to other people
Two features - check balance - send
For a coin to have value, people need to be forced to buy it to consume specific services. There has to be stuff for people to spend the coin on, that there is demand for.
So Bitcoin is really just a purely speculative asset. It generates no cashflow and its value is determined by perception or social convention.
Ideally, Skycoin would start off as a "better Bitcoin" (faster, more secure, new algorithm, simplier, etc), then over time we would build up an ecosystem and have some type of backing and tie the coin's value into the network and usebase.
The mesh netork (skywire) is good, because it gives something for people to do to get coins and it allows people to consume the coins. You can run your internet traffic through a VPN that tunnels over Skywire and maybe it will be a nominal amount (actually absurdly small amount of money), but there would be real economic activity and a real userbase and community using the coin. Not just speculation.
Later on the scope is much wider.
arc-over-water So the skycoin wallet will be a VPN for our internet usage?
synth
nxt is a newer platform than sky, market value is $220 million plus $166 million, I get what you are saying but the evidence is wrong. Community is huge and active in Nxt. But you say it is killed, i dont get it?
What I am saying, is that NXT would be a lot further along than it is now and probably around where Ethereum is, except for that mistake in the distribution and keeping it too concentrated. It set them back by years. They did not consider what the impact on the price would be, over the long term, when one of the early whales started selling off or decided he wanted out.
arc-over-water But they did the same again with IOTA, same lead dev.. Its over a $Billion
they released and let the market price distribute
synth
So the skycoin wallet will be a VPN for our internet usage?
The VPN is just one application, that uses bandwidth over Skywire. There are several things in development.
This is a BBS like 4chan, that is completely distributed, with CXO. https://github.com/skycoin/bbs
It will run over Skywire also, This is like building a whole new internet from scratch. The apps that run on it are going to specialized and privacy focused, etc GitHub skycoin/bbs Contribute to bbs development by creating an account on GitHub.
mike So Skycoin is a Proof of Resource coin where its value is actually backed by provision of a useful service, in this case private and secure networking? Are there plans to add decentralized storage and even distributed processing to it?
arc-over-water so these 100 separate million coin accounts will be 100 ICOs or how is the distribution patterned? is it written into the code or up to the devs?
rockyj !calculate
slackbot Custom Response https://docs.google.com/spreadsheets/d/1FGo3FkC3uSWXGHatPQyny2brMWjAIJsHFCR-Lhkl_m0/edit#gid=0
synth
So if there is no block reward what is the incentive to run a node?
running a consensus node does not cost anything. You can run it on a raspberry pi.
The important thing is that if the people doing consensus are doing a bad job, that the community can get rid of them and replace them. The other important thing, is that they can be audited and determined automatically if they are obeying the protocol.
the miners in skycoin are not very powerful and cannot do anything except slow down transactions. They are unable to spend other people's money without their private keys, so the consensus/mining nodes are almost irrelevent. It is not like Bitcoin where the miners can hold the network hostage or act selfishly (driving up the transactions fees for their own personal benefit and delaying any innovations that would improve bitcoin for everyone, etc).
So Skycoin is a Proof of Resource coin where its value is actually backed by provision of a useful service, in this case private and secure networking? Are there plans to add decentralized storage and even distributed processing to it?
We have decentralized storage, which is called CXO. But only the bandwidth is monetized by Skywire. We do not nickle and dime and try to attach a coin cost to every API call. Everything that should be free is free. So its a different philosphy.
On top of CXO we also have distributed social media applications (simmilar to Steemit)
CXO is very similar to IFPS, but simplier and designed for our internal infrastructure and with our crypto standards, instead of being a mismash.
mike Is it possible for Skycoin to choose the best paths and route around bad or slow nodes as damage to the network, in effect reducing their impact on consensus?
looks like you answered the question above while I was typing...
tranzer How many tx/s can skycoin handle? What are block times?
thrice.pi 300 right? ^
arc-over-water on your website it says you will have a NON- Turing complete lisp language?
synth
so these 100 separate million coin accounts will be 100 ICOs or how is the distribution patterned? is it written into the code or up to the devs?
We will have a distribution page, up on the website soon. Its complicated.
Skywire, is designed to pull coins out of circuation, through a sort of tithe on network activity and it does automatic buy backs effectively. So the distribution will actually peak and then decline. But one distribution is from the locked coins, and the locked coins are freed, then circulate, then end up at the foundation (from the skywire tithe are pulled out of circulation), but still count towards the free float.
The coin holders also receive a coinhour dividend and there will be a market rate conversion between coin hours and Skycoins and coinhours are the actual currency for the Skywire network. If you do not have enough coin hours, then you sell Skycoin for CoinHour at the market rate, to purchase bandwidth; but if you have a lot of coins then you have enough coin hours for downloading movies or VPN or whatever you are doing and it is essentially free.
So there is a dual level economic structure. Both with coin buybacks to pull coins out of circulation and with a dividend or incentive to encourage users to hold the coin if they are using the network.
arc-over-water so there will be two currencies, holding one reserves the other
synth
Is it possible for Skycoin to choose the best paths and route around bad or slow nodes as damage to the network
Yes. This is very important.
The person dialing a connection, chooses the path of the connection!
You can choose the lowest latency path for video games or Skype, and choose highest throughput paths for video downloads etc. Or can choose paths through specific nodes or facilities or countries, for security concerns and to minimize the number of points that the traffic could be intercepted at.
mike Will Skycoin still have the node subsidy plan for setting up and registering the mesh nodes like originally planned?
dr10 When do you plan to be able to present your planned technology and services to the masses? When can they use what you try do accomplish?
synth
on your website it says you will have a NON- Turing complete lisp language?
That is probably an error. LOL. We will have a new website soon.
There is no scripting language on the skycoin blockchain. Each transaction is constant time (for efficiency and security and to achieve the highest transaction rate and to keep the coin simple).
However, we have a language called CX in development, which is a next generation language that is beyond "smart contracts" and the toy things on ethereum. It uses immutable datastructures and is something completely new. Most of the skycoin "smart contracts" will probably be off blockchain or in personal blockchains and we do not want to shove all the data onto the main chain, because forcing everyone to download everyone one elses contracts it the world is just spamming the blockchain to death. There are better ways to do it.
Will Skycoin still have the node subsidy plan for setting up and registering the mesh nodes like originally planned?
Yes. We are going to get from 20% to 30% distributno of the coins, through network incentives for people running Skywire nodes, consensus nodes and services.
I think this is going to be massive for marketing. And it is the best way to get the coins out to the users, instead of all the coins being held by whales
samuelvihollandia I read how you suggest Skycoin could be used for VPN connections, is this the largest use case you see?
arc-over-water Maidsafe has been working on the redesign of the net for about ten years, what are you doing the same and what different?
synth
I read how you suggest Skycoin could be used for VPN connections, is this the largest use case you see?
No. This is just something easy, that we have working. Its not the largest applicatoin at all.
80% of internet traffic right now is bitorrent and the bitorrent sites are being systematically shutdown and driven off the internet. They wont go away, but will jut go underground. What.cd (largest music tracker, with 800k people) was just shut down, bakabt (largest anime tracker) has gone closed registration, Nyantorrent etc...
User communities of millions of people will be migrating from the clearnet (the existing corporate shit-net) to the "new internet". We are going to see people migrating by the millions, whole user communities of millions of people.
arc-over-water Are you a corporation or foundation or charity? Registered? I am not sure i have seen anything about who you are? What is the dev team size? Background? - Maidsafe is open and clear so is IOTA and Stellar etc. Can you let us know who you and your team are? Especially you are talking about 15 year and up obligations..
techbytes Do we need to hold skycoin to run Skywire nodes or consensus nodes like masternodes from other coins?
synth
Maidsafe has been working on the redesign of the net for about ten years, what are you doing the same and what different?
Maidsafe is in version 2 or 3. Maidsafe will not have a real coin until version 9. Each version takes them about two or three years. Maidsafe will not be "done" or ready for atleast 18 years at this rate.
Skycoin has been in development for ~6 years and the meshnet for 4 years and it will be finished in a few months. To the poin that people can start using it.
Skycoin is similar to maidsafe in the objective, but has a different approach and architecture and primitives. We did not try to do everything, but focused on a smaller, tractable core and got that done.
There will be multiple projects in this space, but few teams are able to plan on the time horizon necisary for building a new internet or able to design each of the components of a system this large, or figure out how to do it so that it is useful at each stage of construction of a project that may take a decade. (edited)
mike Can you see a way for Ark and Skycoin to build on each other in a synergistic manner? I'm all for not reinventing the wheel, especially when it looks like it will be replaced with antigravity like Skycoin.
I see Skycoin as essentially replacing TCP/IP and providing mesh network type functionality at the hardware level, Ark would run on top of it as a top level application layer.
arc-over-water are you up to date on Maidsafe, they are nearly out of Alpha and its more like release early next year? But that being said, Maidsafe says once it is released it is like a virus or AI type, so does Tau Chain, and also Autonomic by HunterMinerCrafter, are we heading towards AI with Maid, Sky Tau and Autonomic?
dr10 smartbridge now! :kappa:
mike So Skycoin would act as a sort of global decentralized cloud server to build on top of.
To communicate, it is more like sharing encrypted files to selected recipients than it is sending messages or hosting sites on a specific server.
synth
Are you a corporation or foundation or charity? Registered? I am not sure i have seen anything about who you are? What is the dev team size? Background?
I think there are over ~60 people who have worked on Skycoin or have made major contributions. Its really a project from the darknet.
Many of the contributors are anonymous. Some of them have security clearances and were in the military industrial complex and one of them worked at the San Diego Naval Defence Research Lab and a lot of the idea for the networking protocols came out of public sector academic researched, funded from there.
We also have a lot of very very early Bitcoin people, hardcore crypto people that predate Bitcoin and an Ethereum core developer, etc..
On the Chinese side we have an early investor in Alibaba and telecom investor. And are doing pilot with china aviation group (owns four publicly traded airline companies) and apparently now Sinopec (which is 2nd largest publicly traded corporation in world).
Then we have people who are part of israeli and US intelligence and are probably doing some sort of money laundering or phychological operations background, who just showed up for some reason. This group seems very interested in the "applications" of these coins and how to improve tranaction privacy and the specifics of the CoinJoin protocol implementation. We got a lot of advice from people experienced in forensic accounting and what they wanted to see and where they felt Bitcoin was deficient and where it leaked metadata.
Then a bunch of PHD level people doing research into distributed database consensus algorithms and another group doing programming language research.
Then a lot of people from the deep darknet, anon, frog twitter and cipher punks and bitorrent communities. (really should be listed as two seperate groups). And people from the Russian darknet community. We have like eight Ivans. (edited)
I see Skycoin as essentially replacing TCP/IP and providing mesh network type functionality at the hardware level, Ark would run on top of it as a top level application layer.
Yes. The key functionality is two things - connecting to people by public key (networking) - distributing self validating, immutble data peer to peer (transactions, blocks etc... content addressible storage)
And you can build almost anything on those two building blocks. The whole internet will eventually be rewritten on top of those primitives and it will replace many of the existing protocols.
arc-over-water Who is the entity that is funding this? I think you have done 2 ICOs? How much did you receive? The first was 10c and the second was @ 50c per coin, released 6 million, is that correct?
samuelvihollandia Are you planning to enter a different exchange market soon?
arc-over-water Have you personally been in Sky from the start? What members have? Who allocates the ICO money etc... I hope you understand that decentralization with investment is a two edged sword, we invest in people but we cannot know these people.... So... we question.. (edited)
thrice.pi with all these outside parties that helped to build skycoin and bring it where it is today who are the main core team who will help to keep all these cool features running. Will these outside parties be recruited for the long haul?
synth
Who is the entity that is funding this? I think you have done 2 ICOs? How much did you receive? The first was 10c and the second was @ 50c per coin, released 6 million, is that correct?
The people who funded the project for the first four years, were early bitcoin and deep crypto people; who were unhappy with the fact that Bitcoin and the other alts did not seem concerned about the core issues at all. They gave us over 1200 bitcoin I think, over several years and did not ask for anything in return.
The early Skycoin devs were doing academic research, architecture and new algorithms. Prototyping and simulation. The later stage people were more project managers and doing implementation.
We did four ICOs for small amounts, to fund development and to allow developers working on the project to buy in. The first ICO I remember was at $0.10 per coin and the price now is about $4.00 per coin, so its up ~35x or 40x, but when you consider the Bitcoin price going from $100 to $3000, the increase has not been so much. lol (edited)
arc-over-water With the price up 35x in about 1 year, is it not now time to cool the run up and release another ICO? At what amount of coins released and what procedure?
mike Would Intel Edison or Joule, or Samsung Artik 10 work well as a Skywire wireless node? They have 2 Gb-8 Gb RAM, 8-64 Gg eMMC storage, 802.11n wireless, bluetooth, and some with Zigbee?
synth
Have you personally been in Sky from the start? What members have? Who allocates the ICO money etc... I hope you understand that decentralization with investment is a two edged sword, we invest in people but we cannot know these people.... So... we question.
I think there wer three different groups that merged together in first three years, that had similar objectives. Because the code was in different language. There was python, C code and then eventually golang and the golang code became the basis for the current codebase.
The way the coin allocations work, is that it requires unamimious consent for releasing coins and it has to be for a specific, ear marked purpose and can be blocked by any of the devs.
Then there is a pool of coins in bitcoin for various project managers to allocate. And that is an operational fund for paying developers, contractors, marketing etc. Then different people have different responsibilities.
Then we also have corporate funding and sponsorship and some companies paying our full time devs etc, which helps a lot.
arc-over-water Silicon Valley (TV SHOW) recently had their decentralized web running on a network or refrigerators? So i would guess, smart phones, smart gadgets? Home gadgets etc could add services and receive rewards from Sky?
mike best would be a totally open source and publicly audited manufactured system on a chip for the nodes to prevent any backdoors. Even chip designers now don't really know what they're putting into the chips since they just drag and drop black boxes known as IP cores into the ASIC designs.
synth
With the price up 35x in about 1 year, is it not now time to cool the run up and release another ICO? At what amount of coins released and what procedure?
I think the Skycoin price has been doubling every 40 days, for as long as I can remember. However, it will still be years before it is in the top 20, its still a long way to climb. It took bitcoin years to go from 0 to $1, even though it was growing at 1% per day the whole time for six years.
best would be a totally open source and publicly audited manufactured system on a chip for the nodes to prevent any backdoors.
we are going to use arm
arc-over-water IOTA is also working on their own hardware for nodes etc, Trinary asset is JINN
synth all intel and AMD systems have remote management engine backdoors. So they are not safe for storing large amounts of coins.
We also have alpine linux and special version of linux, that is 6 MB and has everything that is needed for running our toolchain. It will not have any binary blobs in the kernel or anything that we cant compile from source. It does not have systemd and does not have gli, but uses musl. And does not have openssl.
mike so looks like the Samsung Artik 5 and 10 can run it no problem, they're ARM based. 25x35x4mm package for the Artik 10, Artik 5 is smaller, less powerful but has 2 separate antenna ports, nice for mesh networking with an omni and a directional antenna.
earlyarkinvestor how does Ark compare to Lisk?
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earlyarkinvestor isn't Lisk trying to achieve interoperability between blockchains as well
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mike nice! looks like an ARM based server rack
let me know if you need any help with it, see you're on solidworks, which I run as well.
synth this is the skycoin cluster; it has 8 CPU boards; 4 cores per CPU, 2 GB of ram per CPU and 64 bit ARM processor. Only one program will run on each individual board, so there is compartmentalization and a physical gap so that compromising one process on a system does no allow all other processes on the system to be compromised
mike looks like 2 ethernet ports per board.
synth and the hardware does not have the qualcom backdoors and is actually chinese equipment; and the backdoors are normally at the kernel level because they are not at hardware backdoors yet
lol
mike do they have SATA ports, maybe M.2 for storage?
synth and we will hav an ARM openwrt router eventually too
this model does not have SATA, but we have a model with SATA; you could hook up 16 2 TB drives, lol and download half the piratebay to your cluster (edited)
the skycoin infrastructure is cluster based and designed for running across +300 computers, with one "node" deployed per computer. Eithe a CXO storage node, or a skywire SDN/meshnet node, or a VPN end point node or a consensus network, or skycoin node, etc. We have multiple node/application types.
so this is a "personal cloud' by itself
its not like StoreJ where you have other people storing your stuff; you are going to have ~5 clusters and 300 computers and can store your own files, on your own internet, on your own hardware. You do not need to go outside of your own network.
mike Have thought it'd be nice to have a board with an array of M.2 sockets to run SSD arrays without all the cables, have the busses shielded in circuit board.
synth yes, i think there will be m.2 eventually
these actually use a microSSD for storage, and its 48MB/s
mike any idea on the pricing on your ARM boards in quantity? We are looking at Intel for Bitseed V3, but ARM would be good to stay with, especially using your boards if there is SATA.
arc-over-water Do you have a general idea of usable functions to be released next in what order? The first release was the Coin and wallet, then the ICOs and can you give a general future with dates if you can
synth the boards are $30 each and the memory for solid state, is actually more than the the cost of the CPU/RAM/board now. Which is sort of insane.
mike so you have microSSD, what's maximum size? we shipping 1with Tb hard drives right now
synth Bitseed mike is going to help with this; so we can pool the boards and do a custom PCB
mike yes, that's where we see the price jumps, is in RAM and eMMC costs.
and it's hard to find low cost boards with SATA
synth try the orange pi
the price goes up 30% for SATA
mike yes, very nice specs.
synth eventually, we will make one that has custom PCB and is a pluggable blade server, I think.
mike I like the Samsung Artiks for the tiny form factor for drone routers, cubesat/picosat possibilities.
but like the fact that you are controlling much deeper down the supply chain with your boards.
synth we only need ram, CPU, then microSD slot; and that is it. so the wifi and all this other stuff is just crap and its junk. We only have communication, storage and computation. So should be minimialist.
submitted by Jarunik to ArkEcosystem [link] [comments]

Help me understand taker criteria and matching to maximize yield generator settings

So I finally got my Raspberry Pi 2's node synced and starting fooling around with the yield generator, getting a couple joins in the last day, hooray! As I plan to have a significant amount invested here and running 24/7, it make sense to try and optimize this, as best I can. A 0.1 percentage point difference in total yield is going to make a big difference over the months.
  1. What are the default criteria a taker uses to choose orders? It's been mentioned before that a taker usually chooses makers semi-randomly, at least under most settings. How does that work?
  2. I see a number of makers offering multiple rates. Why are they doing this? How would I edit the yield generator syntax to do this?
  3. If my transactions are being confirmed in a block or two with very low miner fees, does it make much sense to increase the transaction fees I'm offering? Are takers likely to pass on my offers because the miner fees are too low?
  4. Could running multiple instances of the yield-generator increase my yield?
  5. How important is it then to be competitive or close to competitive to other offers I'm seeing on the order books? I see a range from 0.5% all the way down to 0.00010000% on joinmaker.io. That's a difference by a factor of 5000! Under what conditions would someone want to pay the 0.5%? Can I offer higher rates on larger amounts because there are fewer individuals able to offer that amount?
  6. Other bitcoin jumbling services charge 1-3%. Why would people use them instead of joinmarket?
submitted by chuckymcgee to joinmarket [link] [comments]

Guide For New Shibes

So it has become apparent to me from the constant questions on this subreddit that a lot of new miners/shibes need help, so I have decided to make a basic guide to most of the questions I see a lot here.
1) BTC - This means Bitcoin so If you see a miner that says BTC it does not work with dogecoin because dogecoin is Scrypt.
2) Scrypt - This is what dogecoin runs off of, or what your computeasic/gpu solves to support the network.
3) Asic - This stands for an application-specific integrated circuit, or in less confusing terms a miner dedicated completely to mining a particular type of coin such as dogecoin.
4) GPU Mining - Using a graphics card to mine crypto currencies.
5) CPU Mining - A slow and inefficient way of using your computers Central Processing Unit to mine crypto currencies.
6) Hash Rate - The rate at which you mine a crypto currency. The higher the better.
7) KH - This Means Kilo Hashes. 1KH = 1,000 Hashes a Second
8) MH - This Means Mega Hash - 1 MH = 1,000,000 hashes a second.
9) Should I buy an asic? - If you want to support the network yes. If you want to solely make money off of it No. Buy the coin if you want to make profit. This is my opinion, there is no one answer to this question.
10) Mining Pool - Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out smoothly over time.
Tl/DR You Work with other miners to solve stuff faster making you money faster.
11) Mining Difficulty - How hard it is to solve the problems to generate dogecoin.
12) Do I need a fan? - Yes I cannot stress how important it is to properly cool your units. Make sure your units are always cool or else they might melt. Do not think you are safe just because you turn your ac up, but a fan.
13) What Mining Pool Should I Pick? - Here is a list of all of the pools Pick one that works for you.
14) What is a wallet? - This is where you store your dogecoin and where you can send and receive dogecoin.
15) What Wallet Should I get? - Online is convenient but not safe. Paper Is the Safest But Not convenient. Cold Storage is the mostly safe and somewhat convenient.
16) What is cold storage? - Basically putting your wallet on an offline device like a usb.
17) Can I mine on a mac? - Yes look here for more info.
18) Cloud Mining - A service you buy that mines for you. you pay for a certain amount of hashes, lets just say 10gh for an example, and the company/service mines you this amount for the time you bought. It is not profitable usually.
19) What Is a Raspberry Pi? - A small cheap computer that people use to run their miners on.
20) Watts - The measure of electricity.
21) Should I pre-order? No Never F%&$ing pre order, you will get scammed 99.9999% of the time.
22) Can I still mine? - Yes, you probably wont make money but you will support the doge community.
23) Linux - An operating system like windows that people use to run mining programs on.
24) If you Have an animal make sure to properly protect your mining rig from them. Wires from the machines make great chew toys.
25) How Do I calculate if im going to make money with my mining rig? - Use This mining Calculator This is also a very good calculator
26 What Mining Program Should I use? Windows: CG MINER Mac: Astroid Linux: CG Miner again
Goodluck mining I hope this helps. This Also Took A long time to make so support would be appreciated :)
submitted by sircam22 to dogemining [link] [comments]

Where can I buy old ASICs? Currently looking for a Rockminer R-Box or similar

I'm building a bitcoin miner on a raspberry pi as a project with my son (yes - I understand fully I'll never earn a cent... er, satoshi).
My previous experience with mining was using a Rockminer R Box, and I was wondering if anyone has an old one or something similar they wouldn't mind parting with. I'm happy to buy it, if needed.
Basically, all the sellers I'm seeing on Craigslist and Ebay and so forth are advertising even the old USB 333 MH drives at over $50 - ridiculous markups that I suspect are preying on people who don't know any better and are trying to get in the mining game. Since none of these miners will ever earn money, its pretty ridiculous to sell them at those rates...
I like the R box as they were pretty silent and didn't make the house too hot (like my old antminers) and I want something a little more complex than a simple USB drive to put together with him.
Basically, we are going to put it together, learn about mining, then leave it on solo mining to try it as a bitcoin lottery.
Anyone know a good market for old miners - or have an old one they'd sell at a reasonable price?
Note to mods: not a "for sale" post - Its a want ad if anything :)
submitted by EarlofBitcoin to BitcoinMining [link] [comments]

Raspberry Pi + ASIC defcoin mining guide

Want to get started mining defcoin with an ASIC and a Raspberry Pi? Does 360 KH/s of mining power sound appealing? Here’s how to do it.
https://pbs.twimg.com/media/Blpj8IvCcAEIStY.jpg
1) Hardware List
-Raspberry Pi Model B
--SD Card
--Micro USB power supply
--Ethernet cable
-Gridseed ASIC
--12V power supply (5.5mm/2.5mm barrel connector)
--USB to Mini USB data cable
The main component is the Gridseed ASIC, which will be doing the Scrypt calculations. The Raspberry Pi will be used as the controller for the ASIC, and will be doing the communication with the mining pool. If you’re not familiar with the term, an ASIC is an Application-Specific Integrated Circuit - basically a chip with a single purpose, like mining crypto currency. Using an ASIC will allow us to mine more efficiently than we would be able to with general purpose hardware.
The ASIC that I’m using is a “300+ KH/s Single Gridseed ASIC Miner”. It looks like a CPU heatsink with a fan attached. There is actually a circuit board with 5 ASIC chips sandwiched between two halves of this heatsink, and has a mini USB connector and a power connector sticking out the side. There are a few places where you can buy these. I bought mine at GAWMiners.com for $130. That was the lowest price that I could find, and I had a good experience buying from them. Use this link, and you can get $20 off of a $200 order (and give me some referral points :-)) GAWMiners. You can also find other vendors by searching for “Gridseed ASIC”. You’ll need a 12V power supply to power the ASIC, and a USB A to USB Mini B cable to connect the ASIC to the Raspberry Pi. I’m using a 60W power supply, which seems to be working fine for defcoin (Scrypt) mining. These ASICs can also mine Bitcoin at the same time, but you may need a beefier power supply if you want to do that.
The Raspberry Pi can be purchased at any number of places- Amazon, SparkFun, AdaFruit, etc. I’m using the Model B because I had one already, and also because it has a built in ethernet port that will make connecting to the internet easy. Make sure to get an SD Card and a micro USB power adapter to get the Pi up and running too.
2) Software
If you haven’t already, download the defcoin wallet from defcoin.org. If you want to do pooled mining, create an account for one of the defcoin pools, such as redbaron.us or whichever other pool you want to mine. Once you’ve created a pool account, make sure to create a worker too (for MPOS pools, that will be under My Account > My Workers). The password for your worker does not have to be the same as the password for your pool account (and it probably shouldn’t be).
Next, download the latest Raspbian image from raspberrypi.org/downloads/ and install the image to your SD card. Instructions for installing the image can be found here. If you are using the dd method on a Mac, make sure to use /dev/rdiskX instead of /dev/diskX - both will work, but rdiskX is much faster. Once you have the image installed, put the SD card in the Raspberry Pi, connect the Pi to your network, and connect the Pi to your micro USB power adapter to power it on. Next, SSH in to your Raspberry Pi with the default username and password pi/raspberry. I use nMap to find the IP address that has been assigned to my Pi. You can also use an HDMI display and a USB keyboard to log in instead of using SSH. After logging in for the first time, run through the wizard that comes up to configure your Raspberry Pi. The defaults are fine for most things, just make sure that you don’t skip the step to expand the filesystem to use the rest of your SD card. If you don’t expand the filesystem, there won’t be enough space for other software.
Once you have Raspbian installed, and have gotten through all of the first login setup stuff (which will likely end with a reboot), log back in to the Raspberry Pi with the pi user. From the command line, run sudo apt-get update sudo apt-get dist-upgrade
There are some stability issues with USB communication between the Raspberry Pi and the Gridseed ASIC. Enabling SLUB debugging seems to resolve this, at least well enough to prevent the Raspberry Pi from freezing every so often. Open the /boot/cmdline.txt file, and add the following text to the end of the line. Don’t add a new line, just add this to the end. You can use vi, nano, or whatever your favorite text editor is to do this.
slub_debug=FP 
Reboot the Raspberry Pi once you’ve added that flag to your /boot/cmdline.txt file.
sudo shutdown -r now 
Log back in with the pi user once the Raspberry Pi is finished rebooting.
The mining software that we’re going to use is a customized version of cgminer that has support for the Gridseed GC3355 chips that are used in our ASIC. There are a number of different mining programs out there, this is just what has been working the best for me so far. First, install git and dependencies needed to compile cgminer.
sudo apt-get install git build-essential libtool libcurl4-openssl-dev libncurses5-dev libudev-dev autoconf automake 
Next, clone the git repository for cgminer-gc3355
git clone https://github.com/dtbartle/cgminer-gc3355.git 
Next, we’ll build cgminer.
cd cgminer-gc3355 autoreconf -i ./configure --enable-scrypt --enable-gridseed make 
Once the make command finishes, we’re ready to run the mining software. You can also run make install if you want to install the software, but running it out of the build directory works just fine. Plug in the power supply for your ASIC, and connect the ASIC to it. Connect the USB cable to the ASIC and to your Raspberry Pi. Run the mining software by running the following command. The -o option specifies your pool URL, the -u option specifies your username and the workername that you set up for the pool, and the -p option is the password for your worker. There are a couple of options available that are specific to the gridseed ASICs, and those will be placed after --gridseed-options. The freq=850 option sets the clock frequency of the ASIC to 850 MHz. There are other clock options available, but 850 seems to be working best for me. I was getting hardware errors at 900, and a lower average hash rate. I am getting about 360 KH/s with the clock frequency set to 850.
sudo ./cgminer -o stratum+tcp://www.redbaron.us:3333 -u Username.Workername -p yourworkerpassword --gridseed-options freq=850 
This command needs to be run with sudo in order to access the USB hardware. You can also create another user specifically for mining, or grant the pi user the appropriate permissions if you don’t want to run cgminer as root. When you run this command, you should see output from cgminer showing that it is communicating with the mining pool, and something showing your hash rate. If you’ve gotten this far, and you’re seeing output from cgminer showing a hash rate, congratulations, you’re mining defcoins with your ASIC! There are just a couple more steps to do if you want to let your Raspberry Pi and ASIC continue mining without needing you to be logged in.
To keep cgminer running after I log out, I am using nohup. You could also use screen instead of nohup. Create a script (startMiner.sh) by running the following commands.
echo “nohup /home/pi/cgminer-gc3355/cgminer --real-quiet -o stratum+tcp://www.redbaron.us:3333 -u Username.Workername -p yourworkerpassword --gridseed-options freq=850 &” > /home/pi/startMiner.sh chmod a+x /home/pi/startMiner.sh 
If you run this command with sudo startMiner.sh, cgminer will run in the background, and will continue running after you log out. If you want to have this run when your Raspberry Pi boots, modify your /etc/rc.local script so that it executes this startMiner.sh script. Your /etc/rc.local file will end up looking like this:
# Print the IP address _IP=$(hostname -I) || true if [ "$_IP" ]; then printf "My IP address is %s\n" "$_IP" fi /home/pi/startMiner.sh exit 0 
That’s it! You should now have a Raspberry Pi controlling a defcoin mining ASIC, that starts mining as soon as it boots up. For more reading, check out some of the links below.
Gridseed GC3355 5 Chip Setup writeup on bitcointalk
cgminer-gc3355
Crypto Mining Blog
GAWMiners
raspberrypi.org
There are also some pre-built images for using a Raspberry Pi as an ASIC mining controller. I haven’t tried any of these myself, but they could be worth checking out. Raspberry Pi Controller Images with Gridseed ASIC Support
submitted by _RedBaron_ to defcoin [link] [comments]

State of the Redd-Nation :: Apr 04, 2016

Reddcoin Weekly Development Update

Welcome again Reddheads to another weekly update of Reddcoin Development.
This last weeks efforts have continued to focus on the requirements for the ReddID and services. Additionally, there has been a renewed interest overall with Reddcoin, which has seen some old wallets coming back online. This has required a bit of effort to help some users getting their wallets operating again.
Still there are some activities to complete on the v2 wallet before I am happy to create a more general release, with language translations forming the bulk of the work to do. Suffice to say, I am somewhat pedantic to make sure everything is covered, especially since our audience covers many different nationalities.
Some discussions have also been raised on how to create further incentive to promote and support the network. And do we have a plan for such activities?

New Wallet - RC1d development update

The work this last week has focused on network resilience and language files.
Some of the extreme testing done on testnet has been putting nodes off-line for extended periods so that they fall behind by greater than 24hrs, and then establishing the network again. Testing was passed.
Language translation is a focal point of mine for the release of the new wallet. And having an interface that can be read in your native language is a better user experience than relying on falling back to English. We live in a global village so the UI (user interface) should be accessible to all.
After reviewing past work, I think we can leverage some of the translation work done in BTC core to transfer into Reddcoin, and this will make the translation process more of a review for 22 language files which are 100% complete. Thanks @thijs for the discussion on this
I will be putting some focus this week in getting the updated resources pushed to the transifex site

Translations

One of the activities that needs to be done is to review the current translations for Reddcoin V2.0. We follow the same procedure as Bitcoin, using a service by Traniflex to manage and maintain the translation files. As mentioned, I will be working on updating some of the resource files this week to help expedite the process.
We have already had a good start on the following languages
I would also like to get some focus on the following languages, which for some will be a review of work already done:
Of course your welcome to contribute to any other of the languages as well. We currently have 60 languages on file, and you can add to this if needed (Klingon anyone??)
PM me if you are interested (we have already had some starters)

ReddID Updates

I have been keeping generally pretty quite on the progress of ReddID as I want to focus on getting the core wallet completed. That said, there is still some good progress occurring and the basic functionality is now available including backend services, an API to integrate with (3rd Party services) and integrating with wallet services. There is still a ways to go, but I am excited by the progress being made.

Getting involved

Community awareness is still increasing at a steady rate, and statistically we are back at the levels seen in early 2015. The number of active nodes, google search trends and Reddcoin marketcap have all been increasing from October 2015. The big difference is the trend is in a positive direction.
Some of my goals this year are to increase traffic to each of our forum areas (including Reddit, ReddCoinTalk
2 weeks ago we experienced a small blip on the exchanges, and this was followed again by another blip this week where nearly 900BTC was traded on Poloniex during the 24hrs on Apr 2.
I am looking forward to an exciting year in 2016.
If you would like to get involved and dont know where to start, reach out and we will see where you can jump in

Rewards + Full-Nodes + Network Support

I am going to borrow the title from the posting on Reddit since it was raised there this week by @appleluckyapple (appleluckyapple)
When PoSV was introduced to the community in August 2014, it was done with a built in reward rate of approximately 5% per annum return on staking. It is considered a modest inflation rate in which to reward users who continue to keep their wallets online and staking.
The questions raised was if there is consideration for any of the following
  1. Boosting the reward for staking
  2. Introducing staking requirements for boosted rewards (similar to masternodes)
  3. Incentivizing network support
This could form the basis of a very long thread, but it is worth discussing so you know where the teams headspace is at. These very questions are often on our minds when we consider the on going health of the network
At the current exchange rate of 9-10sat with 100MM coins staking you would earn approx 5MM RDD which at todays rates would be $USD210 (assuming no change in the exchange rate)
So it would cost an initial $USD4172 to purchase 100MM RDD, with a return of $USD210. Interest is compounded
In Australia a return from the banks at this rate would be considered very generous (typically rates are 1.5% - 3%). In Russia, you can get up to 10% And in UK, you could expect to get 1.4%
It is my opinion, that 5% is a healthy middle ground, that provides some reward to operators of staking nodes. As indicated, you do need to be staking a reasonable amount to get any significant return.

But, is it enough??

If you consider for a moment, running a full Bitcoin node, you could expect to earn 0 BTC for your outlay. Which I think is one of the failings of the Bitcoin eco-system. There should also be an incentive for operators to support their full node requirements. Bitcoin miners receive the proceeds of mining a block, AND the transaction fees.
With Reddcoin, we have combined the functions. Node operators can be both 'miners' and full node operators. We don't need expensive mining equipment, with a home PC or even RaspberryPI being sufficient to handle the task of being a full node and staking. Additionally, when staking, if you stake a block that contains transaction fees, you also receive those fees.

How could this be increased??

One of the goals of the ReddID implementation is to provide a method to fund additional payments into the network.
Since the ReddID system was first announced Social-X architecture by Laudney, I have been thinking on a deeper enhanced solution to improve the support of the network.
In regards to this discussion, I would like to single out the items regarding ReddID registration fees. This list differs somewhat from the original proposal.
The overall goal is to create a dynamic crypto ecosystem to enhance the PoSV system and provide a means to transfer value between users.

The future

Although I did not touch on any of the points presented in the Reddit OP. I would not dismiss any of the ideas as not being valid, each has merit in their own right.
I have not presented a roadmap yet for Reddcoin, but 2016 has a lot to offer. With the new wallet, ReddID and tipping platform we have some exciting features to launch this year.

In Closing

Every week that passes a little more gets achieved, between the efforts of the Core team and the contributing community members we are getting a lot done. Sometimes it is hard to see this if you are not seeing the output (new exes, source code, etc) but it all will arrive in good time. Going into this week, I hope to tick off a few more from of my activities list.
Where ever you are, enjoy your week ahead
Keep on staking!
x-posted on (https://www.reddcointalk.org/topic/815/state-of-the-redd-nation-apr-04-2016)
submitted by cryptognasher to reddCoin [link] [comments]

Raspberry Pi Bitcoin Ticker - Well Tempered Hacker - YouTube Cryptocurrency $BLOC Mining with Raspberry Pi3 SBC Passives Einkommen durch Raspberry Pi 3 - YouTube DIY Bitcoin Mining: Hardware (part1) - YouTube How to image a Raspberry Pi with Minera for USB Bitcoin Mining

Mining Monero XMR Crypto Currency on Raspberry Pi UPDATE DEC 2 2017: Please see comment at the bottom for a suggestion of a miner that currently works! I’ve got a Pi 3 that’s hanging around doing nothing so I thought I would try and use it to mine some cryptocurrency, mostly for a bit of fun – I’m not sure I will make much money from it! Following these steps will leave you with a very energy efficient bitcoin miner, as a Raspberry Pi only uses four watts of power, and a miner is typically 2.5W. Mining used to be done with computers consuming over 700W for the same process so to make a jump in savings helps repay the cost of the hardware we are using. Raspberry Pi in combination with a USB ASIC miner chip makes a good Bitcoin miner (PiMiner) due to its low power usage and ease of configuration. ASIC devices are specialised computing processors specific to the SHA256 algorithm used in Bitcoin hashes. They are much more efficient than pure CPU computations. The Raspberry Pi is a very cheap and ... Raspberry Pi Miner Bitcoin. Den Raspberry Pi Einplatinencomputer bekommt man im Handel schon ab 30€. Die Leistungsfähigkeit ist aber heute zu gering, um Bitcoin Mining profitabel zu machen. USB Bitcoin Miner. Miner USB Sticks gibt es in unterschiedlichen Varianten. Vom Marktführer Bitmain werden Varianten angeboten, die zwischen 100€ und ... Setup with the USB bitcoin miner to the USB powered hub with fan. USB hub must be at lest 1.5 - 2.0 amps. Also the Rpi heatsink and fan. You need this heatsink and cooling fan if you are overclocking the Rpi for maximum mining capability and planning to keep the raspberry pi up 24/7 without burning the core processor.

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Raspberry Pi Bitcoin Ticker - Well Tempered Hacker - YouTube

Everybody can mine BLOC How to mine with Raspberry Pi : ... using low & fix rate fees per transaction. BLOC was created without an Initial Coin Offering. If this is your first time hearing about ... Get an additional $10 in Bitcoins from Coinbase when purchasing through my referral link http://fredyen.com/get/Bitcoins Raspberry Pi: http://amzn.to/2l6yrW7... Here are the links for the programs- Zipeg- http://www.zipeg.com/ Win32 Disk Imager- https://sourceforge.net/projects/win32diskimager/ Advanced IP Scanner- h... How to Install on Raspberry Pi http://raspberrypi4u.blogspot.com/2017/11/raspberry-pi-bitcoin-miner-monero-xmr.html email : [email protected] [email protected] Add a TFT screen and you open up a world of new uses for the Raspberry Pi. In this episode, we create a Bitcoin Ticker that shows the price of Bitcoin on Bit...

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