Bitcoin Vault (BTCV) Mining Calculator

Mining profitability gaining momentum

Mining profitability gaining momentum
We are back!
For the last 2 years there was not much to shill in mining mining was on the life support. And the profits constantly got decreasing. Start of 2020 Bitcoin and Altcoins are showing great performance in price action. This price action has also increased mining profits in some coins for more then 100% since december 2019. It might be to early to say that “we are back” , as crypto can be so unpredictable. But there is a lot of signs that we have now oversold a lot and value of crypto market is increasing steadily. We might see this pattern continue for good bit of times as BTC halving is coming up in 3 month. Let’s get in straight in. I will choose 3 hardware devices which in my opinion would be the best choice and we will see how profitable they are.
If you are new to mining and you want to know which devices to choose, choose from top market cap coins latest equipment. This will be your safest bet, as the mining profits are much more stable on bigger cap coins then on smaller cap coins. If you are small miner and don’t have large electric bills, you can choose smaller cap coins. They might go up in price lot faster then bigger cap coins in bull market, but be aware they they might dump lot faster. It is high risk high reward type of mining.
If you are really serious about mining, you need to look at cheapest power source possible which would be in 0.05c a kw/h range. It is not 2017 and mining from home wont be profitable at 0.30c a kw/h. Industrial power is possible to achieve 0.05 in many places in the world. If it is not possible in your country , look for the country where it is possible. So all profit calculations done for 0.05c a kw/h
Top mining profitability websites :
  • https://www.asicminervalue.com/ It is great website to see newest ASIC miners and their profitability. Usually the new upcoming mining machines gets listed here. So come and checkout this page every few days/weeks this page if you are serious about mining.

https://preview.redd.it/aut9qgz76df41.png?width=1206&format=png&auto=webp&s=b85486b8b0171c91301c6fa9827bc3795a4ea2b7
  • https://whattomine.com/ Is the best known for GPU/CPU mining profitability. You can choose what ever hardware to use and it will give you the best and most profitable coins to mine. It is very simple to use it. It does have Also asic miner profitability check, but for asics i do prefer asicminervalue,com

https://preview.redd.it/y0xr3dr86df41.png?width=1182&format=png&auto=webp&s=439e7cb67f8becc86f4d97c128504636922939e9
The top and 3 most profitable Crypto currencies to mine in February 2020 , for some people miner pick could be different. The prices changes if you are buying new/used , depending in which part of the world are you. This is my recommended , brand new purchase in Europe.
  • Bitcoin – Most suitable Antminer S17+ . It is one of the efficient Bitcoin miner currently publicly available, alternatives would be M20s miner and Avalon miner 1166. Antminer S17 efficiency is 73TH/s @ 3000watts . Current profitability after you have paid your electric bill is 7.82 usd in 24hours , with ROI achievable in 6-7month. It does seems great, but crypto doesn’t stand still. And has plenty of risks.

https://preview.redd.it/msokirj96df41.png?width=891&format=png&auto=webp&s=7552b4aff2c0df4c25d9a72ecc25dfb4c2510f43
  • Ethereum – Best miner to use is RX5700 graphic cards mining rig. I know there is an ASIC miner available A10, but most of you who are in mining will agree with me, that it is complete junk. It is only slightly more efficient then RX5700 gpu rig in terms of price per hash and watt per hash . But it is 10x more riskier investment in mining rig then buying GPU mining rig. So the efficiency of 12xgpu RX5700 mining rig is 640 mh/s @ 1700watts. Current profitability after you have paid your electric bill is 7.62 usd in 24hours , with ROI achievable in about 20-22 month. Ethereum is one of the underdogs which could perform quite well in 2020 and might reduce your ROI much more faster.

https://preview.redd.it/ajx9eyfc6df41.png?width=894&format=png&auto=webp&s=30442d846a9d70ea3eaac6eaf7c2bdbe476384e4
  • DASH – Lately has been released most efficient DASH miner STU-U6. Asic miners are very risky investment, but sometimes they might be very profitable. The beauty of this miner is that it is quite new model and it is mining profitably DASH , even that DASH is still over 90%down from its all time highs. This miner performance is 420GH/s u/2100 watts. Current profitability after you have paid your electric bill is 8.11 usd in 24hours , with ROI achievable in about 5-6 month.

https://preview.redd.it/l80xnwbd6df41.png?width=902&format=png&auto=webp&s=5620ecf7af742cdcae0ae7010cf910d9131ae801
These would be my to pick miners for start of 2020. There is big risks in any on these miners as no high reward investment is guaranteed anywhere. I’ll have more detailed explanation of the risks of each of these miners in my next post.
Any miner suggestion, what would be your best choice and why?

Video here - https://www.youtube.com/watch?v=QvVYQFJEmnQ&t
submitted by mineshop to gpumining [link] [comments]

Can anyone tell me what to expect?

Good morning, everyone.
I am going to be getting my rig by the end of the week and im pumped to start mining 0xBitcoin on a rig and not a laptop, lol.
Its already setup, i just dont know how much Mhs to expect. Can anyone help me?
Here is what my rig consists of -
6x EVGA GeForce GTX 1060 superclock
Intel i7 Processor ASUS Z170 Pro Gaming Motherboard
8gb Ram
EVGA 1000w power supply
Thank you for helping me out, everyone.
Have a great day!
submitted by dystoxin to 0xbitcoin [link] [comments]

Are ASICs a real problem for Ethereum miners?

Are ASICs a real problem for Ethereum miners?
ASICs are coming to the Ethereum mining industry, and small independent miners are virtually doomed. 2Ether has come up with a solution — the third element in our dynamic block reward system. But before we explain it, we’ll have to talk about Ethereum ASICs.
If you don’t know that much about Ethereum, you might be surprised to learn that ASICs for mining ETH actually exist. Isn’t Ethereum’s algorithm — Ethash — supposed to be ASIC-resistant? If it isn’t then why is everyone still mining using GPUs?
Well, Ethash is indeed much less ASIC-friendly than the algorithm of Bitcoin. It doesn’t mean that you can’t make ASIC chips for mining ether, though. It’s just that it’s difficult to make ASICs that would be much more efficient than graphic cards (GPUs).
The efficiency of a piece of mining hardware is calculated as a ratio of power (measured in kilowatt hours) to hash power (measured in megahash per second). So for example, if you have two devices that both produce 50 MH/s, but one of them consumes 1 kWh, and the other consumes 2 kWh, then the first device is twice more efficient.
ASICs cost a lot of money to design, and their market price is high. So it only makes sense to buy an ASIC if it gives you a serious advantage over other types of hardware. You should also keep in mind that if the algorithm changes, you’ll need to replace your ASIC with a new model. Such chips are built to carry out one task and one task only — that’s why they are called application-specific integrated circuits (that’s how the acronym is deciphered).
Now, the first ASICs for Ethereum came out in April 2018, and they were more than a curious gadget than a serious rival to GPUs. Vitalik Buterin said that they were not a threat and the best action would be no action.
But the situation changed. Soon, there were ASICs twice as efficient as the best graphic cards. Still, it wasn’t enough to justify the price difference.
Finally, in late September 2019, Chinese manufacturer and distributor of mining hardware Canaan announced that it would start selling a new ASIC that is 5 to 7 times more efficient than the leading GPU models. Its W/MHs ratio is just 0.68–7.5 times better compared to AMD Vega 64 and 5.3 times better than AMD RX570.
What does this mean for Ethereum mining? When such models go on sale, whoever can afford them will be able to extract very high profits. GPU miners will be at a disadvantage. And if you have only a small rig with a couple of GPUs at home, your prospects are grim.
You might ask: can’t Ethereum devs do something — say, change the algorithm? Bitcoin algo changes regularly, after all. Unfortunately, Ethereum works differently, so every algorithm change would require a hard fork — with all the consequences it entails. The devs have been talking about introducing a new consensus protocol called ProgPOW (Programmable Proof of Work). It would make the algorithm change regularly and ensure ASIC resistance. But Vitalik Buterin believes that the real goal is a switch to Proof of Stake, not tweaking PoW.
What other options are there to protect small miners from the upcoming wave of ASICs? In our next post, we’ll explain how 2Ether plans to deal with this problem.

https://2ether.com/
Web site — https://2ether.com/ Twitter — https://twitter.com/2Ether_ Discord — https://discord.gg/TuqG4py Facebook — https://www.facebook.com/2Ethe Reddit — https://www.reddit.com/use2Ether Medium — https://medium.com/@2ether Teletype — https://teletype.in/@2ether Telegram — https://t.me/ether2support Telegram chat — https://t.me/blockchain_2ether
submitted by 2Ether to u/2Ether [link] [comments]

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

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

Bitcoin Rhodium Mining Guide

Bitcoin Rhodium Mining Guide
Happy Mining!

All available XRC pools can be found on MiningPoolStats

Bitcoin Rhodium Mining Hardware

Baikal Giant+: 1.6 GH/s
Baikal Quad Cube: 1.2 GH/s
Baikal Giant: 900 MH/s
Baikal Quadruple Mini Miner: 600 MH/s
Baikal Miner Cube: 300 MH/s
Baikal Mini Miner: 150 MH/s

Mining Setup

To mine Bitcoin Rhodium you need to set up an XRC wallet and configure your miner of choice. You can choose between Web wallet, Electrum-XRC or Magnum wallet. To set up a web wallet please visit wallet.bitcoinrh.org. Or download and install Electrum-XRC wallet (recommended) for Windows, Linux and MacOS.
Web wallet: wallet.bitcoinrh.org
Electrum-XRC wallet: electrum.bitcoinrh.org
Magnum wallet: https://magnumwallet.co

Sign up for XRC web wallet if not yet done so

  1. Create an account, with your username, password and secure question.
  2. Sign in and click “Create Wallet”.
  3. Set up a strong transaction password. Make sure you store it securely in a secure password manager of choice.
  4. Copy the seed somewhere safe. It’d be a good idea to write seed on a hardcopy and keep it safe.
  5. Paste it to confirm you got it right.
  6. Grab an address for the mining step. Your wallet is now ready to mine XRC.

Instructions for mining XRC on the official pool

Pool link: poolcore.bitcoinrh.org
  1. Any miner that supports X13 will be able to mine XRC. We have a few examples below of miners that are well tested with Bitcoin Rhodium network.
  2. For any miner, configure the miner to point to:
(0–0.8 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3061
(0.8–2 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3062
(3–4 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3063
(5+ GH/s) stratum+tcp://poolcore.bitcoinrh.org:3064
with your XRC address as username and x as password. You don’t need to open an account on pool. You will be mining to XRC address and mined coins will be transferred to your wallet
after blocks reach 10 block maturity
after you mined up minimal amount of coins (currently 0.1 XRC)
sometimes mined blocks could get rejected by network (orphaned) after they were counted as valid blocks. This is normal network behavior to follow longest chain
  1. http://poolcore.bitcoinrh.org is used to follow your miner and network statistics.

CPU Miner-Multi

Source: https://github.com/tpruvot/cpuminer-multi
Sample configuration with CPU Miner tested on UBUNTU.
{
“url” : “stratum+tcp://poolcore.bitcoinrh.org:3061”, “user” : “YOUR XRC ADDRESS”,
“pass” : “x”,
“algo” : “x13”, “threads” : 1,
“cpu-priority” : 5,
“cpu-affinity” : 1, “benchmark” : false, “debug” : true, “protocol”: true, “show-diff”: true, “quiet” : false
}
Command to run your CPUMiner: cpuminer -c cpuminer.json

SGMiner (ATI GPU)

SGMiner is a GPU-based mine: https://github.com/nicehash/sgminereleases
The configuration below was tested on Windows:
setx GPU_FORCE_64BIT_PTR 0
setx GPU_MAX_HEAP_SIZE 100
setx GPU_USE_SYNC_OBJECTS 1
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_SINGLE_ALLOC_PERCENT 100
cd C:\Software\sgminer-5.6.1-nicehash-51-windowsamd64 sgminer.exe
— gpu-platform 1 — algorithm x13mod -url stratum+tcp://poolcore.bitcoinrh. org:3062 — pool-user — userpass :x — auto-fan — temp-target 70 — temp-over- heat 82 — temp-cutoff 85 — gpu-fan 65–85 — log-file log.txt — no-adl — no-extra- nonce -P –T

CCMiner (NVIDIA GPU)

CCMiner is a GPU-based miner (NVIDIA)
Command to run your CCMINER:
ccminer-x64.exe -a x13 -o stratum+tcp://poolcore.bitcoinrh.org:3062 -O :without -D — show-diff

Baikal miner

Settings: Url:
(0–2 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3062
(3–4 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3063
(5+ GH/s) stratum+tcp://poolcore.bitcoinrh.org:3064
Algo: x13User: your XRC receiving address (make sure you set 2 distinct addresses for each hashing board)
Pass: x
Extranonce: leave off Priority set to 0 and 1
Once pool stratum address and your wallet as user are set up you should see your miner mining against XRC pool. When miner is working the status column is green. The pool and miner are incorrectly configured now as status says “Dead” highlighted in red.

Instructions for mining XRC on BSOD pool

Pool link: bsod.pw/en/pool/dashboard/XRC/
Use this code for your miner: -a x13 -o stratum+tcp://pool.bsod.pw:2582 -u WALLET.rig
BSOD pool allows both solo and party mining.
For solo mining use code: -a x13 -o stratum+tcp://pool.bsod.pw:2582 -u WALLET.rig -p m=solo And for party mining use: -a x13 -o stratum+tcp://pool.bsod.pw:2582 -u WALLET.rig -p m=party.yourpassword
NOTICE: You can use us for North America and asia for Asia instead of euin your .bat file or config.
You can also use BSOD pool’s monitor app for Android and iOS.

Instructions for mining XRC on ZERGPOOL

Zergpool offers low fees (just 0.5%) and also SOLO and PARTY mining with no extra fees.
To mine XRC on Zergpool use this command lines for your miner:
Regular: -a x13 -o stratum+tcp://x13.mine.zergpool.com:3633 -u -p c=XRC,mc=XRC Solo: -a x13 -o stratum+tcp://x13.mine.zergpool.com:3633 -u -p c=XRC,mc=XRC,m=solo Party: -a x13 -o stratum+tcp://x13.mine.zergpool.com:3633 -u -p c=XRC,mc=XRC,m=party
Use your coin wallet address as username in mining software. Specify c=SYMBOL as password to identify payout wallet coin, and the same coin in mc=SYMBOL to specify mining coin.
For more information and support please visit http://zergpool.com
Notice that when there are more pools mining XRC in different geographic/availability locations choose the nearest to you as lowest priority and then add desirable fall back pool options in different geographic locations or pools. This is useful when one pool experiences issues, to fall back to different pool in Bitcoin Rhodium network.

Calculate your Bitcoin Rhodium mining profitability

WhatToMine: https://whattomine.com/coins/317-xrc-x13
CoinCalculators: https://www.coincalculators.io/coin/bitcoin-rhodium

Feel free to ask questions in Discord community. There are lots of helpful people around the world watching XRC 24x7.

Bitcoin Rhodium Dev Team
submitted by BitcoinRh to BitcoinRhodium [link] [comments]

I need your help, fellow Nicehash miners!

TLDR: Could you post what model of graphics card you are using, and the hashrate on some of the more common profitable algorithms: Dagger, x16r, Zhash, Beam, Grin (cuckaroo 29 and 31), Lyra2Rev3, MTP, and CryptoNightR. I’m working to build a more accurate profitability calculator.
Full Story: I’m a college student and I’m working on a final project for my programming class, so I decided why not make my own profitability calculator, since many of the ones I have found online are not very user friendly or their built-in stats for cards are just terrible. I’m looking to collect a few points of real world data for each graphics card for this project to make it the most accurate possible. It would be way to expensive to buy one of each card on my own for someone like me, so I am asking all of you fellow miners to help me with some basic data collection for any cards you may already own and mine with (look above for algo list). If you could just copy and paste the below format and fill it in with data from your card, it would be greatly appreciated. Also, someone who contributes data to this project will randomly be selected to win 0.0025 BTC for their help. I know it's not much, but hopefully it will make it worth your while. Winner will be random and chosen in late May, so make sure to post your Bitcoin address as well!
If this project turns out to be successful, I may open it to the public if I can secure the funding for hosting and domain services.
Sample below (just remove my data and add yours, thank you again!)
GPU Chip: GTX 1060 6gb
Brand/Model (if possible): Asus Dual
MSI Afterburner Settings: 85% power, +115 core, +475 mem
DaggerHash: 23.2 MH/s
X16r: 12.1 MH/s
ZHash: 41 Sol/s
Beam: 12.5 Sol/s
Grin-29: 3.4 G/s
Grin-31: N/A
Lyra2Rev3: 26 MH/s
MTP: 1.53 MH/s
CN-R: 410 kH/s
BTC Address: 3NbbxLTX1Ykks7vbAy8TxKyjH1Ptc2JLVS

PS: Nicehash staff, also take notes on responses to this post. Your profitability calculator needs updating too.
submitted by CryptoMatttt to NiceHash [link] [comments]

Bitcoin Private (BTCP) Is Easy to 51 Percent Attack and Has a Hidden 2.04 Million Coin Premine

Bitcoin Private (BTCP) Is Easy to 51 Percent Attack and Has a Hidden 2.04 Million Coin Premine

https://preview.redd.it/qrb6gjkz2p621.png?width=690&format=png&auto=webp&s=408b4882eac543cadcbe8c295d459688b7b2dedf
https://cryptoiq.co/bitcoin-private-btcp-is-easy-to-51-percent-attack-and-has-a-hidden-2-04-million-coin-premine/
The War On Shitcoins Episode 8: Bitcoin Private (BTCP). The war on shitcoins is a Crypto.IQ series that targets and shoots down cryptocurrencies that are not worth investing in either due to their being scams, having serious design flaws, being centralized, or in general just being worthless copies of other cryptocurrencies. There are thousands of shitcoins that are ruining the markets, and Crypto.IQ intends to expose all of them. The crypto space needs an exorcism, and we are happy to provide it.
Bitcoin Private (BTCP) is one of numerous Bitcoin forks but is perhaps one of the more well-known forks. Bitcoin Private (BTCP) launched in March 2018, and in April, briefly attained a market cap of $1.5 billion. However, Bitcoin Private (BTCP) is a good example of how market cap is a poor measure of the legitimacy or usefulness of a cryptocurrency.
In October, a hacker live streamed a 51 percent attack against Bitcoin Private (BTCP) for fun, using hash power rented from a cloud mining site. Now it has come to light that the Bitcoin Private developer team minted an extra 2.04 million BTCP during the genesis fork and hid this fact from the public. Essentially, Bitcoin Private (BTCP) is a shitcoin because it lacks security and has corrupt developers, as we’ll explain in this article.
Anyone Could 51 percent Attack Bitcoin Private (BTCP)
A hacker who uses the pseudonym “Geocold” wanted to prove to the world how easy it is to 51 percent attack a cryptocurrency, even a cryptocurrency with a market cap in excess of $50 million at the time, one like Bitcoin Private (BTCP).
Perhaps Geocold was inspired by Crypto51, a website that calculates how affordable it is to perform a 51 percent attack on various cryptocurrencies. Currently Bitcoin Private is still extremely vulnerable to a 51 percent attack since the total network hash rate is seven MH/s and uses the equihash algorithm.
Crypto51 indicates it costs a mere $48 to 51 percent attack Bitcoin Private (BTCP) for an hour, so perhaps for less than $200 a hacker could perform a sustained and devastating attack that would decimate Bitcoin Private (BTCP). It seems like most major exchanges have delisted Bitcoin Private (BTCP) after Geocold’s initial livestream, but several exchanges still offer Bitcoin Private (BTCP), which is a true disservice to their customers and puts the exchange itself at risk.
The Geocold livestream 51 percent attack of Bitcoin Private (BTCP) caused a media frenzy in the crypto space. Many thought it should be illegal to attack a cryptocurrency, and indeed Twitch and Stream.me banned Geocold’s account. Geocold obtained 62.5 percent of the Bitcoin Private (BTCP) hash rate and was successfully mining blocks and was ready to perform the double spend attack, but he only stopped because he lost his streaming account.
As we’ve mentioned, anyone with $50 and a little programming knowledge could perform a successful 51 percent double spend attack on Bitcoin Private (BTCP). Geocold was doing the crypto space a service by exposing this truth. In general, people should do research before investing or trading a cryptocurrency to ensure it is actually secure. In this case, Bitcoin Private (BTCP) obviously lacks security, yet it still has a market cap of tens of millions of dollars and hundreds of thousands of dollars of daily trading volume.
Bitcoin Private (BTCP) Developers Secretly Premined 2.04 Million Coins
The fact that Bitcoin Private (BTCP) can be so easily attacked makes it a shitcoin, but the revelation that the developers secretly mined 2.04 million BTCP during the genesis fork is the nail in the coffin.
The whole idea behind Bitcoin Private is that it is Bitcoin integrated with Zclassic (similar to Zcash) privacy technology. This means there are stealth addresses and transparent addresses. The developers used this to their advantage, they minted 2.04 million BTCP and hid it in stealth addresses. Further, the developers released supply auditing checks for BTCP that purposely missed the hidden premine.
It has been over 9 months since Bitcoin Private launched, and this is only being discovered now. The total supply of Bitcoin Private (BTCP) is supposed to be 21 million coins like Bitcoin, but there are already 22.6 million BTCP in existence and mining continues.
It appears 300,000 BTCP from the hidden premine were dumped onto the market between July and August, coinciding with a price crash from $10 to $3. It is estimated that these dumped BTCP from the hidden premine netted the developers between $1 million and $3 million, while simultaneously the total BTCP market cap lost over $100 million.
There is nothing to stop the developers from dumping the other 1.74 million BTCP that they have in their not-so-hidden premine. The market is reacting to this revelation, and the price of BTCP has dropped to $2. If the developers were to actually cash out this premine all at once it would completely saturate the order books and drop the price of BTCP to near zero.
Even at this lower price the market cap of Bitcoin Private (BTCP) is in excess of $40 million. This makes zero sense for a cryptocurrency that can easily be 51 percent attacked by any script kiddie, while simultaneously the market could be sucked dry at any moment by the corrupt developers.
submitted by turtlecane to CryptoCurrency [link] [comments]

Is mining with these specs still worth it at all?

I'm considering mining some cryptocoins for "fun"...I just want to try it out, see how it works and maybe make a few bucks in the process. A lot of people told me to look at ETH but apparently my GPU doesn't work for that so next up was Monero.
I have two systems, one is a Intel Core i5 6600k with a Geforce GTX 760. The other is an i5 2300 with a GTX 560ti. I pay about $.1 per kwh for electric.
I also have a couple of older systems but I doubt they'd be worth running (q6600 CPU I think?).
Is Monero worth mining with these specs? And once I start mining how can I get a rough idea of what I might be making per day?
submitted by Mydst to Monero [link] [comments]

The Problem with PoW

The Problem with PoW
Miners have always had it rough..
"Frustrated Miners"

The Problem with PoW
(and what is being done to solve it)

Proof of Work (PoW) is one of the most commonly used consensus mechanisms entrusted to secure and validate many of today’s most successful cryptocurrencies, Bitcoin being one. Battle-hardened and having weathered the test of time, Bitcoin has demonstrated the undeniable strength and reliability of the PoW consensus model through sheer market saturation, and of course, its persistency.
In addition to the cost of powerful computing hardware, miners prove that they are benefiting the network by expending energy in the form of electricity, by solving and hashing away complex math problems on their computers, utilizing any suitable tools that they have at their disposal. The mathematics involved in securing proof of work revolve around unique algorithms, each with their own benefits and vulnerabilities, and can require different software/hardware to mine depending on the coin.
Because each block has a unique and entirely random hash, or “puzzle” to solve, the “work” has to be performed for each block individually and the difficulty of the problem can be increased as the speed at which blocks are solved increases.

Hashrates and Hardware Types

While proof of work is an effective means of securing a blockchain, it inherently promotes competition amongst miners seeking higher and higher hashrates due to the rewards earned by the node who wins the right to add the next block. In turn, these higher hash rates benefit the blockchain, providing better security when it’s a result of a well distributed/decentralized network of miners.
When Bitcoin first launched its genesis block, it was mined exclusively by CPUs. Over the years, various programmers and developers have devised newer, faster, and more energy efficient ways to generate higher hashrates; some by perfecting the software end of things, and others, when the incentives are great enough, create expensive specialized hardware such as ASICs (application-specific integrated circuit). With the express purpose of extracting every last bit of hashing power, efficiency being paramount, ASICs are stripped down, bare minimum, hardware representations of a specific coin’s algorithm.
This gives ASICS a massive advantage in terms of raw hashing power and also in terms of energy consumption against CPUs/GPUs, but with significant drawbacks of being very expensive to design/manufacture, translating to a high economic barrier for the casual miner. Due to the fact that they are virtual hardware representations of a single targeted algorithm, this means that if a project decides to fork and change algorithms suddenly, your powerful brand-new ASIC becomes a very expensive paperweight. The high costs in developing and manufacturing ASICs and the associated risks involved, make them unfit for mass adoption at this time.
Somewhere on the high end, in the vast hashrate expanse created between GPU and ASIC, sits the FPGA (field programmable gate array). FPGAs are basically ASICs that make some compromises with efficiency in order to have more flexibility, namely they are reprogrammable and often used in the “field” to test an algorithm before implementing it in an ASIC. As a precursor to the ASIC, FPGAs are somewhat similar to GPUs in their flexibility, but require advanced programming skills and, like ASICs, are expensive and still fairly uncommon.

2 Guys 1 ASIC

One of the issues with proof of work incentivizing the pursuit of higher hashrates is in how the network calculates block reward coinbase payouts and rewards miners based on the work that they have submitted. If a coin generated, say a block a minute, and this is a constant, then what happens if more miners jump on a network and do more work? The network cannot pay out more than 1 block reward per 1 minute, and so a difficulty mechanism is used to maintain balance. The difficulty will scale up and down in response to the overall nethash, so if many miners join the network, or extremely high hashing devices such as ASICs or FPGAs jump on, the network will respond accordingly, using the difficulty mechanism to make the problems harder, effectively giving an edge to hardware that can solve them faster, balancing the network. This not only maintains the block a minute reward but it has the added side-effect of energy requirements that scale up with network adoption.
Imagine, for example, if one miner gets on a network all alone with a CPU doing 50 MH/s and is getting all 100 coins that can possibly be paid out in a day. Then, if another miner jumps on the network with the same CPU, each miner would receive 50 coins in a day instead of 100 since they are splitting the required work evenly, despite the fact that the net electrical output has doubled along with the work. Electricity costs miner’s money and is a factor in driving up coin price along with adoption, and since more people are now mining, the coin is less centralized. Now let’s say a large corporation has found it profitable to manufacture an ASIC for this coin, knowing they will make their money back mining it or selling the units to professionals. They join the network doing 900 MH/s and will be pulling in 90 coins a day, while the two guys with their CPUs each get 5 now. Those two guys aren’t very happy, but the corporation is. Not only does this negatively affect the miners, it compromises the security of the entire network by centralizing the coin supply and hashrate, opening the doors to double spends and 51% attacks from potential malicious actors. Uncertainty of motives and questionable validity in a distributed ledger do not mix.
When technology advances in a field, it is usually applauded and welcomed with open arms, but in the world of crypto things can work quite differently. One of the glaring flaws in the current model and the advent of specialized hardware is that it’s never ending. Suppose the two men from the rather extreme example above took out a loan to get themselves that ASIC they heard about that can get them 90 coins a day? When they join the other ASIC on the network, the difficulty adjusts to keep daily payouts consistent at 100, and they will each receive only 33 coins instead of 90 since the reward is now being split three ways. Now what happens if a better ASIC is released by that corporation? Hopefully, those two guys were able to pay off their loans and sell their old ASICs before they became obsolete.
This system, as it stands now, only perpetuates a never ending hashrate arms race in which the weapons of choice are usually a combination of efficiency, economics, profitability and in some cases control.

Implications of Centralization

This brings us to another big concern with expensive specialized hardware: the risk of centralization. Because they are so expensive and inaccessible to the casual miner, ASICs and FPGAs predominantly remain limited to a select few. Centralization occurs when one small group or a single entity controls the vast majority hash power and, as a result, coin supply and is able to exert its influence to manipulate the market or in some cases, the network itself (usually the case of dishonest nodes or bad actors).
This is entirely antithetical of what cryptocurrency was born of, and since its inception many concerted efforts have been made to avoid centralization at all costs. An entity in control of a centralized coin would have the power to manipulate the price, and having a centralized hashrate would enable them to affect network usability, reliability, and even perform double spends leading to the demise of a coin, among other things.
The world of crypto is a strange new place, with rapidly growing advancements across many fields, economies, and boarders, leaving plenty of room for improvement; while it may feel like a never-ending game of catch up, there are many talented developers and programmers working around the clock to bring us all more sustainable solutions.

The Rise of FPGAs

With the recent implementation of the commonly used coding language C++, and due to their overall flexibility, FPGAs are becoming somewhat more common, especially in larger farms and in industrial setting; but they still remain primarily out of the hands of most mining enthusiasts and almost unheard of to the average hobby miner. Things appear to be changing though, one example of which I’ll discuss below, and it is thought by some, that soon we will see a day when mining with a CPU or GPU just won’t cut it any longer, and the market will be dominated by FPGAs and specialized ASICs, bringing with them efficiency gains for proof of work, while also carelessly leading us all towards the next round of spending.
A perfect real-world example of the effect specialized hardware has had on the crypto-community was recently discovered involving a fairly new project called VerusCoin and a fairly new, relatively more economically accessible FPGA. The FPGA is designed to target specific alt-coins whose algo’s do not require RAM overhead. It was discovered the company had released a new algorithm, kept secret from the public, which could effectively mine Verus at 20x the speed of GPUs, which were the next fastest hardware types mining on the Verus network.
Unfortunately this was done with a deliberately secret approach, calling the Verus algorithm “Algo1” and encouraging owners of the FPGA to never speak of the algorithm in public channels, admonishing a user when they did let the cat out of the bag. The problem with this business model is that it is parasitic in nature. In an ecosystem where advancements can benefit the entire crypto community, this sort of secret mining approach also does not support the philosophies set forth by the Bitcoin or subsequent open source and decentralization movements.
Although this was not done in the spirit of open source, it does hint to an important step in hardware innovation where we could see more efficient specialized systems within reach of the casual miner. The FPGA requires unique sets of data called a bitstream in order to be able to recognize each individual coin’s algorithm and mine them. Because it’s reprogrammable, with the support of a strong development team creating such bitstreams, the miner doesn’t end up with a brick if an algorithm changes.

All is not lost thanks to.. um.. Technology?

Shortly after discovering FPGAs on the network, the Verus developers quickly designed, tested, and implemented a new, much more complex and improved algorithm via a fork that enabled Verus to transition smoothly from VerusHash 1.0 to VerusHash 2.0 at block 310,000. Since the fork, VerusHash 2.0 has demonstrated doing exactly what it was designed for- equalizing hardware performance relative to the device being used while enabling CPUs (the most widely available “ASICs”) to mine side by side with GPUs, at a profit and it appears this will also apply to other specialized hardware. This is something no other project has been able to do until now. Rather than pursue the folly of so many other projects before it- attempting to be “ASIC proof”, Verus effectively achieved and presents to the world an entirely new model of “hardware homogeny”. As the late, great, Bruce Lee once said- “Don’t get set into one form, adapt it and build your own, and let it grow, be like water.”
In the design of VerusHash 2.0, Verus has shown it doesn’t resist progress like so many other new algorithms try to do, it embraces change and adapts to it in the way that water becomes whatever vessel it inhabits. This new approach- an industry first- could very well become an industry standard and in doing so, would usher in a new age for proof of work based coins. VerusHash 2.0 has the potential to correct the single largest design flaw in the proof of work consensus mechanism- the ever expanding monetary and energy requirements that have plagued PoW based projects since the inception of the consensus mechanism. Verus also solves another major issue of coin and net hash centralization by enabling legitimate CPU mining, offering greater coin and hashrate distribution.
Digging a bit deeper it turns out the Verus development team are no rookies. The lead developer Michael F Toutonghi has spent decades in the field programming and is a former Vice President and Technical Fellow at Microsoft, recognized founder and architect of Microsoft's .Net platform, ex-Technical Fellow of Microsoft's advertising platform, ex-CTO, Parallels Corporation, and an experienced distributed computing and machine learning architect. The project he helped create employs and makes use of a diverse myriad of technologies and security features to form one of the most advanced and secure cryptocurrency to date. A brief description of what makes VerusCoin special quoted from a community member-
"Verus has a unique and new consensus algorithm called Proof of Power which is a 50% PoW/50% PoS algorithm that solves theoretical weaknesses in other PoS systems (Nothing at Stake problem for example) and is provably immune to 51% hash attacks. With this, Verus uses the new hash algorithm, VerusHash 2.0. VerusHash 2.0 is designed to better equalize mining across all hardware platforms, while favoring the latest CPUs over older types, which is also one defense against the centralizing potential of botnets. Unlike past efforts to equalize hardware hash-rates across different hardware types, VerusHash 2.0 explicitly enables CPUs to gain even more power relative to GPUs and FPGAs, enabling the most decentralizing hardware, CPUs (due to their virtually complete market penetration), to stay relevant as miners for the indefinite future. As for anonymity, Verus is not a "forced private", allowing for both transparent and shielded (private) transactions...and private messages as well"

If other projects can learn from this and adopt a similar approach or continue to innovate with new ideas, it could mean an end to all the doom and gloom predictions that CPU and GPU mining are dead, offering a much needed reprieve and an alternative to miners who have been faced with the difficult decision of either pulling the plug and shutting down shop or breaking down their rigs to sell off parts and buy new, more expensive hardware…and in so doing present an overall unprecedented level of decentralization not yet seen in cryptocurrency.
Technological advancements led us to the world of secure digital currencies and the progress being made with hardware efficiencies is indisputably beneficial to us all. ASICs and FPGAs aren’t inherently bad, and there are ways in which they could be made more affordable and available for mass distribution. More than anything, it is important that we work together as communities to find solutions that can benefit us all for the long term.

In an ever changing world where it may be easy to lose sight of the real accomplishments that brought us to this point one thing is certain, cryptocurrency is here to stay and the projects that are doing something to solve the current problems in the proof of work consensus mechanism will be the ones that lead us toward our collective vision of a better world- not just for the world of crypto but for each and every one of us.
submitted by Godballz to CryptoCurrency [link] [comments]

Is it possible for free movie streaming sites to use your computer as a bitcoin miner?

I guess it would be acceptable that this is a stupid question regarding the need for software to be installed, but maybe a web alternative exists too.
submitted by GreenAce92 to Web_Development [link] [comments]

Start Here for Much Wallet WOW!

EDIT 2017-02-10: A word about Nodes

There is a discussion about nodes that came up today, where it seems I'm discouraging people from running the full QT/Core client. Yes and No. What I'm trying to make sure people understand is how things work, and that it is NOT mandatory to run a client in order to use Dogecoins (and yes, I realise that browser-based tools like coinb.in and wallet sweepers are 'clients' by strict definition).
That said, more nodes is absolutely a good thing for the network. Preferrably full nodes. How do you run a full node? Just run Core/QT and open up Port 22556 on your router so it can connect to more than 8 peers. What will it cost you? You need your machine to be on 24/7/365, you need enough storage for the full blockchain (currently about 20Gb. Bitcoin is over 120Gb) and enough bandwidth to keep it in sync and share blocks with peers. A couple of Gb a month, most likely. This is best done with a desktop on a wired broadband link. Or maybe a hosted VM in the cloud. :)

EDIT 2017-01-09: Wallets WITHOUT Clients

Since I started helping people on /BitcoinBeginners, I'm getting a lot of questions about how to use wallets without running clients or trusting third parties. So here are a couple of resources that will make that possible, and not just for Dogecoin:
Multi-Coin Wallet Generator Now supporting 129 currencies! Coinb.in Start by setting the currency, found in the gear wheel in the Broadcast tab. Dogecoin Wallet Sweeper Redeem 'paper' wallets containing up to about 100 UTXOs. Bitinfo Charts My favourite block explorer, handles a bunch of cryptos.
Using these resources, it is possible to hold, receive and spend coins in various currencies, without having to run QT or a 'lite' client. You can also download and run the pages on your own device.

EDIT 2016-11-23: SEMANTICS about MINING! :P

Even though there is already a section on mining below, it has been suggested given the huge number of posts on the subject that this needs to be made clearer. Since people get their panties in a twist over the word 'dead', lets change that...

MINING IS DEAD!

MINING DOGECOIN IS UNPROFITABLE!

Put simply, there is no way to mine Dogecoin and make a profit because of the massive hashpower provided by industrial-scale Litecoin miners. Mining Doge directly stopped being viable when our hashrate exploded with the introduction of AuxPoW. Mining with CPU's and GPU's died when ASICs were introduced. And mining with a laptop WILL kill your laptop and cost you a fortune to repair or replace. Mining Litecoin with an exchange that also mines Doge and others will earn less than the electricity consumed, and you won't recover your costs. Probably ever, but certainly not in any reasonable time.
Mining other currencies may be a thing, but that's beyond our scope here. This is /Dogecoin, not /GetRichMiningCryptos after all. If you want to mine the newest scamcoin for fun and profit, look elsewhere for advice. :/
Oh, and most important:

READ BEFORE YOU POST!

At any given time, there are half a dozen posts on the frontpage just like the one you're about to write, where the answers have already been given. Read them. Don't make people waste their time repeating themselves because you were too lazy to bother reading stuff. :P
So there I was, having a quiet Sundy arvo bludge, as you do, when 42points turned up on Facebook and asked me to write a new sticky post for /dogecoin. Why would he do this, when he should be having a bludge himself, I hear you ask? Well, seems he was doing exactly that, and wanted to fob off the work he’s too slack to do himself. ;) Ah well, being a sucker for punishment, I’ll grudgingly oblige I guess.
OK, first things first.

The Clients:

Dogecoin Core 1.10.0 2015-Nov-01
Bootstrap file for Core to save some download time.
Dogecoin Core Guide Wiki
MultiDoge v0.1.7 2016-Jan-31
Android Dogecoin Wallet 2.0.8 2016-Jan-18
Android Coinomi Wallet
Java Cate 0.14 alpha 2 Multicoin wallet 2016-Feb-14
Exodus multicoin wallet
iOS Doughwallet

Do you REALLY need a client?

Wallet ELI5
UTXO ELI5
Paper Wallet Generator
Sample HTML Wallet List
Dogetipbot subreddit and website
Dogechain Wallet
Block.io Wallet
Exchanges
BTC38
Poloniex
CoinSpot
ShapeShift - Not really an exchange, rather a currency trader.

Mining

Litecoinpool
Prohashing
Zpool

Explorers

BitInfoCharts - My favourite, has charts!
chain.so
dogechain.info
/dogecoindev where the devs hang out

More Info

Dogeducation
Technical Wiki
Preev currency value calculator

EDITS:

From peoplma
I was wondering if you could add just a couple things. A link to the coinomi android wallet, it's probably the best one out there. And a sentence somewhere along the lines of "if you need help with any dogecoin software you are welcome to make a post, but PLEASE include your OS, version number of the client, and any relevant transaction IDs that you are willing to share" if you can fit that in somewhere.
Also, if you want to link to Prohashing, I'm pretty sure it's the only Scrypt mining pool that will actually pay out in doge. The others I know of pay out in litecoin or bitcoin. And it's a profit switching multipool, so gives a better return than just mining ltc/doge.
And there's these two wiki articles I thought would be helpful to link /dogecoin/wiki/technical for those technically minded newbies or intermediate users who want to dig a little deeper. And maybe a link to /dogecoin/wiki/dogecoincoreguide next to the link for dogecoin core.
From pts2002
Finally a proper sticky post! Here's some other stuff you could add:
zpool.ca mining pool - You can get paid in pretty much any coin, and you can mine in multiple algos (currently mining lyra2v2 with my GPU). Doing about 500Ð/day
shapeshift.io exchange - My favourite exchange, quick and easy. No registration required!
Also, you should add some blockchain explorers!
chain.so - Support for bitcoin, litecoin and doge.
dogechain.info - Official blockchain explorer. Includes a wallet (already mentioned). Live update currently not working (?)
EDIT: Here's another thing I found!
preev.com currency value calculator - Easy way to check the value of your dogecoins (or bitcoins, or litecoins, or peercoins)!
submitted by Fulvio55 to dogecoin [link] [comments]

How to make your first investment in SPDR and generate revenue with masternodes and other amazing news

How to make your first investment in SPDR and generate revenue with masternodes and other amazing news
Welcome to the weekly blog section of the SPIDER VPS team, blog section where we will talk about the development of our platform. For us, it is very important to have a space dedicated to the weekly updates of our project, as we demonstrate that our commitment and our effort is real and that we want to deliver a project 100% dedicated to our community.
For this day’s section, we will talk about how you, as a young investor, will be able to invest directly in our currency and generate income with our masternodes system.We would also like to show the progression of our marketing campaign,new services and partnerships are being added everyday in order for spider coin to “reach out every corner”.We seek to be the best project of the moment. You are welcome to join us and find out how our project is right now, its development and movement in the community,which is the most important thing because we can do any kind of positive development but if we do not have the support of our community and investors we can not move forward so all our progress we owe to you , our faithful and big family.

First investments in SPDR

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First we’ll talk about why it’s a good option for you to invest in our project. We are currently among the 20 best masternode coins of the moment as we have a current volume of 24 hours of more than 23.70 BTC. Also in such a short time we were listed in coinmarketcap. This is a great joy for us because many know that being on the list in such a short time in coinmarketcap is a challenge that only a few can achieve. To list a project on CMC they must have a very good volume of trade because CMC does a very deep study to know if a currency can be listed with them and they listed SPDR almost immediately showing that it is a project worth believing in and investing in. This makes us understand that we have a growing community that believes in us and fully trusts that we are a project with a very strong base. With such a large percentage of currencies closed, we have a very good decrease in ROI that will give more price and stability to our currency, in just fifteen days we saw how the price of our currency doubled compared to its value, which is amazing. I will show it in the following graph, because the young investors to whom this post is addressed need to know why it is a good idea to invest in us and what are the great advantages of doing so… We know we still have a long way to go, but we work day by day constantly refining our platform and telling only the truth to our community.

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SPDR has been a very innovative concept because you can acquire it thanks to its hybrid algo that has mining POW and POS staking/masternode system which means that investors can choose either to mine their coins with their Gpu’s or stake them/run masternodes by themselves or by using our trusted partners that offer shared masternode services and earn a passive income from a coin in constant growth..
As a second point we will talk about how these shared masternodes work because they are the most used at moment.You do not need to have all the collateral to acquire rewards because you can invest in what you want and buy a seat available to duplicate those coins to get to have your own node in this way but this is what we will talk about. Then, as I said, let’s talk about the fact that SPDR was able to list in an exchange very early on, which is also amazing since part of the pre-sale was done in CREX24. Our team was very assertive in listing with this great exchange because it is very respectable nowadays, it has a daily volume of 192 BTC and by the way our currency is in the number one position, after a while we decided that it was time to expand and we needed another exchange so we chose CryptoBridge which has a current volume of 52 BTC and has earned the affection of many for its great system together with the chain of blocks of Bitshares ,our coin here is ranked in the top 10.

https://preview.redd.it/nhcgpo0p6k231.png?width=659&format=png&auto=webp&s=7fea21a44c78d111dc05a10f54b4cd0c7e7e3ef6
CREX24

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CryptoBridge

About our shared, instant masternodes partners


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Every day more and more partners join our project so this time we will talk about all the shared masternode services which have brought many benefits to the projects because they do something that is a true for many masternode investors which is that not many of them know the technical parts of how to host a masternode, and with those platforms they can do it for a percentage cost of their hosted currencies or simply because they are investors who want to expand their portfolio and want to invest in many currencies. Many of this services(if they agree with the coin teams) run instant nodes.What is an istant node? Basically it is a masternode running in the background which gives instant rewards to all members that join a shared pool. If there are for example 3500 coins in the pool but no istant node running then all users will get staking rewards only. If there is an instant node running than all users will get 50% of masternode rewards shared between them.

https://preview.redd.it/5bymtooy6k231.png?width=800&format=png&auto=webp&s=a9e5170ec14222654e7eb0d1f663fca2bd98b66f
service offers an instant shared masternodes for SPDR.
Check out ultimate features:
• 0-click-masternode-launch (tm)
• full automation
• instant masternode join
• instant rewards
• instant withdrawal
• no deposit or withdrawal fee
• instant auto-reinvest
• no minimum deposit / masternode join amount
• super-clean and intuitive interface
• referral system
Join the shared masternode in 2 clicks:
Click 1 — Login with your social network account: Facebook, Twitter, Google supported (don’t forget to confirm your email).
Click 2 — Deposit your SPDR coins.
You will start to receive rewards instantly!
Visit https://stackofstake.com/ and explore the ultimate masternode experience!
Got questions or suggestions? Join our official Discord server Need support? Feel free to report any issues to [[email protected]](mailto:[email protected]).


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Established in January 2018 and offering the largest community in the masternode space, Midas are a highly trusted and reputable investments platform, and through this listing SPDR endorse their service.
Invest through the Midas Investment Platform — https://p.midas.investments/
  1. Earn rewards instantly using the SPDR instant share held at the Midas platform.
  2. Manage your investments on the Midas platform, providing regular and consistent payouts.
  3. Instant and automated deposits and withdrawals, giving you full control over your investments.
  4. Industry low fees, offering a three tiered fee structure to ensure fees stay low. Pay in MIDAS for the lowest fees.
  5. Scaled reinvestment. Reinvest 100% for compound interest, or set a full/partial automated withdrawal to your wallet.
Midas become the first to offer a complete investment ecosystem
Investors with Midas gain the unique ability to utilize a combination of platforms to research, trade and invest your favourite projects.
Research — Follow the latest updates from your favourite projects with content published directly on https://mn.investments/ from the teams themselves.
Trade — Have you found the investment you want to make. Trade directly on Midex, the exchange operated by Midas — https://dex.midas.investments/
Invest — Invest your coins on the Midas platform https://p.midas.investments/, the intuitive and easy-to-manage platform offered by Midas.
In this great platform there are so far 9 masternodes installed
We hope to integrate SPDR to other Midas platforms very soon!
Discord


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All the SPIDER investors have now 2 weeks with no fees at the trttNodes platform
What does the service offer:
INVESTMENT IN MASTERNODE POOLS
- Investments with no limitations or barriers — starting from 10 EUR minimum value and no cap on maximum investment.
- Investment pools — no shares, seats or dedicated masternodes, your investment will be treated as one position and always get it’s fair rewards.
- Instant rewards — no waiting for the first rewards or masternode filling, get paid 4 times a day, on every 6 hours
- Instant withdrawals — no coins locked for days and waiting for replacement.
- Compound interest by Reinvesting — enable “Re-invest” feature and get the accumulated rewards automatically added to your investment.
- Flexible management — you can add more coins to running investment or withdraw from it any amount, whenever you wish.
- Low fees — 5 EUmonth flat fee per masternode and 4% on rewards for the amounts less that full MN.
- Fees paid in TRTT — your coins won’t be sold on the market and drive the price down.
- Team dedicated to investors
COLD WALLET MASTERNODE HOSTING
- No tech Knowledge needed
- 3-clicks setup
- Special launch offer — only 0.49€/Month
- Fees charged daily in TRTT
- 24/7 service
* Special offer will be valid as long as we continue in beta phase
Guides
How to invest with trttNodes (new UI)
Cold Nodes setup at trttNodes (new UI)
Discord


https://preview.redd.it/db23og577k231.png?width=800&format=png&auto=webp&s=2141a87baf773755909030bf389dbfbc3b36099e
Discord

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About Snode:
What Snode offers:
  1. HQ Services: Shared/instant/dedicated/trustless hosting
  2. Security: Secured platform and users are protected by 2FA for every task
  3. User-friendly dashboard https://dashboard.snode.co/masternodes/reservation
  4. Low fee, no deposit no withdraw free, 20% referral bonus
  5. Transparency: Investors can track information of all running MNs https://dashboard.snode.co/masternodes/running
  6. Instant payout: The rewards are released as soon as they are spendable.
  7. Auto Reinvestment with our Web Wallet
  8. Ticket system: We provide instant support 24/7 via ticket system
  9. SND Payment: You can choose to pay the fee in SND instead of your invested coins
On this platform there are currently 5 masternodes running
Join now MN
Snode discord

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With help of this service you can deploy Spider Masternodes
for only $3.90 per month without any technical knowledge.
On this platform there are currently 1 masternodes running
Website


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FlitsNode Mobile Masternode Service
  • We are glad to announce that FlitsNode has listed us on their mobile app.
  • NOW you can host your masternodes at FlitsNode mobile app for only $3.49/Month if paid in FLS or $5.99/Month if paid in another currency!
What benefits does FlitsNode offer:
  1. No coding needed
  2. Start a masternode with just a few clicks
  3. Super fast and convenient
  4. Mobile Staking enabled
  5. Deposit and Invest Bitcoin
  6. Buy/Sell coins right from the mobile(in upcoming versions)
  7. 10% monthly discount for 10+ nodes
  8. Fees charged daily.
30 days free trial from the registration dateFor further inquiries, please visit FlitsNode
Discord

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one-click masternode platform — GIN Platform
What is the GIN Platform?
The GIN Platform is a web application that allows you to create cold wallet masternodes for Spider coin, without having to deal with servers, terminals or Linux. This lowers the entry barrier to the masternodes market for non-technical people.
How does it work?
The platform automatically creates and configures the server for you in the background. At certain points you are asked for input that links your wallet to the server.


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OS/MN Service “Spider Coin” INSTANT NODES & SHARED NODES & DEDICATED NODES!
What makes SPP different?
https://blog.simplepospool.com/what-makes-simple-pos-pool-different/
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Your reliable partner for Shared Masternode & PoS services!
general info about:
  • 30k active Community
  • no minimum deposit
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(1 click hosting) Clicknode
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Shared Masternode & MN Statistics
About Our services :
MDC-Hash offers various services such as MN statistic, staking pool, shared masternode, price updates on coins and lot’s more to come.
About safety :
We use a cold wallet system, all encrypted and secured using the latest technology to ensure our clients assets are never compromised.
About fees and other things.
  1. Our services funded 100% by fiat. So we have lowest fees, Fee for shared MN(and pool) 2% fee on rewards
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PS : we do not build coins. We only provide info, statistics and pools
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We are Hosting and Shared MN service mn.gtmcoin.io.
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This is great news that we have in mind and that will be a great boom! not everything is Proof of Stake we also have great news for our investors who work at Proof of Work! We want to announce our great partnership with the AIOMiner platform which we are hoping that in a few days this will become official we have already established with them our enlistment, we also want to work day by day for our miners POW! but for those people who do not know AIOMiner what this is all about? mining software in one GPU for Windows in which you can control your mining from anywhere that is automatically synchronized that generates the best return using WhatToMine.com and make this more profitable for you. They also have a system that we all know that in mining there are times of day that are usually more expensive so it will be configured depends on performance to offer you a better return but the best of all this is that AIOMiner does not charge any commission because each currency is yours but the best of all is that you have a service 24 hours a day support so you do not lose time and generate more revenue because time is money.

WhatToMine has added SPDR to its list Crypto coins mining profit calculator


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For us it is a pride to be listed on this great page because for a long time it has been the excellence for the POW miners that day by day use it to calculate which is the best option of profitability to be able to obtain a better profit of quality coins, what do I mean by this? WhatToMine does an extensive study to determine if a coin is applicable to your platform and for the joy of us we have passed this test and we are in, already for our POW miners may know that they will have the option to draw their own conclusions if mining our coin is good and also this will attract new miners to our network which is something amazing that our family grows so if you are a POW miner please run and do the review and calculate that our coin is your best option. The amazing thing about this page is that it is very accurate and calculates every detail that is presented in a POW mining from the FEES to the cost of energy something very excellent.
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This is the publication for this week, we know that it is a little long but when you do real work and strive to bring the best to your community great things have to be announced and there are many more that will add up day by day! With this, those young investors who want to start investing in our project but were not sure or did not know how to do it we hope that this article has cleared their views about the trasparency and hard work that is being put in our project. Again we welcome you to join our big family and invest in a coin with great capabilities.Thank you for reading!
This is the publication for this week, we know that it is a little long but when you do real work and strive to bring the best to your community great things have to be announced and there are many more that will add up day by day! With this, those young investors who want to start investing in our project but were not sure or did not know how to do it we hope that this article has cleared their views about the trasparency and hard work that is being put in our project. Again we welcome you to join our big family and invest in a coin with great capabilities.Thank you for reading!

Contact us

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

The ₿ Store for RotMG

Store is still being updated. More bundles will be added soon

⚠ This store only accepts Bitcoin payments

All items are delivered on mules

Skins

⇣ Skin Bundles ⏤ Stock Price in USD. BTC calc Here
8x Slime Archer Skin $3.00
8x Slime Knight Skin $3.00
8x Slime Priest Skin $3.00
8x Slime Ninja Skin $3.00
8x Slime Wizard Skin $3.00
8x Slime Sorcerer Skin $3.00
8x Slime Trickster Skin $3.00
8x Slime Mystic Skin $3.00
8x Slime Huntress Skin $3.00
8x Slime Necromancer Skin $3.00
8x Slime Assassin Skin $3.00
8x Slime Paladin Skin $3.00
8x Slime Rogue Skin $3.00
8x Slime Warrior Skin $3.00
8x Puppet Master Skin $3.00
8x Jester Skin $3.00
8x Infected Skin $3.00
8x Slime Samurai Skin $3.00
8x Brigand Skin $4.00
8x Agent Skin $4.00
8x Bashing Bride Skin $4.00
8x Eligible Bachelor Skin $4.00
8x Nun Skin $4.00
8x Witch Doctor Skin $4.00
8x Shoveguy Skin $4.00
8x Scarlett Skin $4.00
8x Deadly Vixen Skin $4.00
8x Stanley The Spring Bunny Skin $4.00
8x Nexus No Miko Skin $4.00
8x Drow Trickster Skin $4.00
8x B.B. Wolf Skin $4.00
8x Lil' Red Skin $4.00
8x Holy Avenger Skin $4.00
8x Ranger Skin $4.00
8x King Knifeula Skin $4.00
8x Witch Skin $4.00
8x Platinum Knight Skin $4.00
8x Platinum Warrior Skin $4.00
8x Platinum Rogue Skin $4.00
8x Ghost Huntress Skin $4.00
8x Skeleton Skin $4.00
8x Huntsman Skin $4.00
8x Demon Spawn Skin $4.00
8x Hunchback Skin $4.00
8x Vampiress Skin $4.00
8x Frankensteins Monster Skin $4.00
8x Jack the Ripper Skin $4.00
8x Death Skin $4.00
8x Avatar Skin $4.00
8x Zombie Nurse Skin $4.00
8x Ascended Sorcerer Skin $4.00
8x Mischievous Imp Skin $4.00
8x Vampire Hunter Skin $4.00
8x Poltergeist Skin $4.00
8x Dark Elf Huntress Skin $4.00
8x Santa Skin $4.00
8x Little Helper Skin $4.00
8x Iceman Skin $4.00
Skin Collector, Archer $2.40
Skin Collector, Rogue $3.00
Skin Collector, Wizard $2.40
Skin Collector, Priest $1.80
Skin Collector, Warrior $3.60
Skin Collector, Knight $2.40
Skin Collector, Paladin $2.40
Skin Collector, Assassin $3.00
Skin Collector, Necromancer $1.80
Skin Collector, Huntress $3.60
Skin Collector, Mystic $1.80
Skin Collector, Trickster $3.60
Skin Collector, Sorcerer $2.40
Skin Collector, Ninja $1.20

Pet eggs

⇣ Pet Egg Bundles ⏤ Stock Price in USD. BTC calc Here
8x Common Humanoid $1.60
8x Common Aquatic $0.96
8x Common Automaton $0.96
8x Common Avian $0.96
8x Common Canine $0.96
8x Common Exotic $0.96
8x Common Farm $0.96
8x Common Feline $0.96
8x Common Insect $0.96
8x Common Penguin $0.96
8x Common Reptile $0.96
8x Common Spooky $0.96
8x Common Woodland $0.96
8x Common ? ? ? ? $0.96
8x Common Mystery $0.96
Vouches ⏤ 230
Most recent vouch thread:
https://old.reddit.com/rotmgvouches/comments/a008lk/ufearey_vouch_thread/
Older vouch threads:
https://www.reddit.com/rotmgvouches/comments/8ftn68/ufearey_vouch_thread/ https://www.reddit.com/rotmgvouches/comments/65jlk1/ufearey_vouch_thread/ https://www.reddit.com/rotmgvouches/comments/57qss9/ufearey_vouch_thread/ https://www.reddit.com/rotmgvouches/comments/4ff2b2/feareys_vouch_thread/ https://www.reddit.com/rotmgvouches/comments/76efxx/ufearey_vouch_thread/
Only responding to inquires through my Discord Ant#6460.
If this is your first time doing business with me, have me message you through Reddit to confirm my identity, to avoid being scammed by an imposter.
submitted by Fearey to RotmgRWT [link] [comments]

The power behind Viacoin's merged mining

Let's talk about the power behind merged mining. (Auxiliary proof of work - AuxPOW)
Very simple: you mine for instance Litecoin and can mine at the same time Viacoin without losing hashrate.
But we are going to make an example.
Look at the Hashrate of Viacoin let say it is around 50 TH/s. https://chainz.cryptoid.info/via/
We take the Antminer L3+ as the miner for the whole Viacoin network.
The Antminer L3+ produces around 500 MH/s and it uses 800 watts.
This means that we need 100.000 Antminers to come at a network hashrate of 50 TH/s.The whole system of 100.000 Antminers are using 80.000.000 watts. (800 watt x 100.000)
These 80.000.000 watts x 24 Hours will result in 1920000 kWh.Let say the power costs are $0.15 per kWh is a total-cost of $12000 per HOUR !
To run the Viacoin network on your own with 50 TH/s will give you a electricity bill of $288,000.00 per DAY ! And than we even not talked about the equipment costs.
https://www.coinwarz.com/calculators/viacoin-mining-calculato?h=50000000000.00&p=80000000&pc=0.15&pf=0.00&d=329994.01552825&r=0.03906250&er=0.00008391&btcer=3714.30000000&hc=0.00
In the link i put in all the correct data and you can see it for your self, what it actually will costs to run the whole Viacoin network.
--------------------
At a price as Viacoin is today, you will lose 105 M dollar in 1 year to run the network.
If Viacoin was not AuxPOW the price for 1 Viacoin should be around 2400 dollars each, just to make the mining profitable.
And with this in mind you can see the enormous benefits behind Viacoin's merged mining.
It is not only secure but it also brings sustainability, and provides, that you are paying a fair price for your coin.
Not a single company has benefits to give Viacoin an artificial price, that's why you pay for Viacoin $0,30 and not $2400,-
And with a lot of cryptocurrencies there is a lot of money involved, and the actual buyers are paying the price.
When you buy Viacoin you know for sure that the price is originated by supply and demand, and personally with other cryptocurrencies i have so my doubts.
Other article that you might be interested in to read about merged mining:
  1. https://medium.com/altcoin-magazine/merged-mining-how-dual-mining-of-cryptocurrencies-works-98323ea57529

And than we can talk about the huge energy-costs of mining, and people will say yes but proof of stake and masternodes......
The problem with those algorithms is that it creates an elite-status to early investors, those people are untouchable until they decide to step out, and there even can be SIMILARITIES found with a ponzi-scheme, i am not saying it is a 1 on 1 ponzi.
Let say someone paid 5 dollar for a masternode and the 10th man paid $500 and the 10000th man paid $500000 dollars because this is what happens, the first people are untouchable and only generates money, the last is paying a big price and can wait 300 years to earn his investment back.Same is for proof of stake it only generates money for the team behind the coin or early investors.
It only can be considered fair and efficient when the pay-out for those algorithms is ZERO.
----------
Than you have people that say, yes but than cryptocurrency in general is a ponzi, well...
Do you consider gold as a ponzi?
I know for sure those people who bought gold, didnt get any extra gold by only holding it.And the same you can apply on POW.
1.WORK PAYS
2.DETERMINATION PAYS
But we were talking about the energy costs.
---------
Energy costs.
A lot of people are talking about the energy waste of proof of work systems, it is a point, but their is one big ''but''.
Can you name me one industry where there is no environmental footprint?
I personally realy dont know.
When you drive a car, metal must mined and gasoline must come out of the ground, when you in a plain and go on vacation etc.. etc..
Not going to deep in this stuff because it is endless.
But those same people are saying that proof of work is a waste of energy, while they fly around the world, and than they suddenly don't care about the environmental footprint they as a human leave behind and the flight industry they support?
I am in fact for a greener world, but for that, there a change is needed not only in the world industry but also in the world economy.
I see AuxPOW as a green step to an ''existing problem'' because it thrives only on the energy from other blockchains, and not use electricity on it's own.
And when the blockchain industry evolves, their will be new solutions, and when Bitcoin, Litecoin or any other can implement such new solutions, to this problem, than also Viacoin can implement it.

Thank you for reading.
submitted by skorzer to viacoin [link] [comments]

The Problem with PoW


Miners have always had it rough..
"Frustrated Miners"


The Problem with PoW
(and what is being done to solve it)

Proof of Work (PoW) is one of the most commonly used consensus mechanisms entrusted to secure and validate many of today’s most successful cryptocurrencies, Bitcoin being one. Battle-hardened and having weathered the test of time, Bitcoin has demonstrated the undeniable strength and reliability of the PoW consensus model through sheer market saturation, and of course, its persistency.
In addition to the cost of powerful computing hardware, miners prove that they are benefiting the network by expending energy in the form of electricity, by solving and hashing away complex math problems on their computers, utilizing any suitable tools that they have at their disposal. The mathematics involved in securing proof of work revolve around unique algorithms, each with their own benefits and vulnerabilities, and can require different software/hardware to mine depending on the coin.
Because each block has a unique and entirely random hash, or “puzzle” to solve, the “work” has to be performed for each block individually and the difficulty of the problem can be increased as the speed at which blocks are solved increases.
Hashrates and Hardware Types
While proof of work is an effective means of securing a blockchain, it inherently promotes competition amongst miners seeking higher and higher hashrates due to the rewards earned by the node who wins the right to add the next block. In turn, these higher hash rates benefit the blockchain, providing better security when it’s a result of a well distributed/decentralized network of miners.
When Bitcoin first launched its genesis block, it was mined exclusively by CPUs. Over the years, various programmers and developers have devised newer, faster, and more energy efficient ways to generate higher hashrates; some by perfecting the software end of things, and others, when the incentives are great enough, create expensive specialized hardware such as ASICs (application-specific integrated circuit). With the express purpose of extracting every last bit of hashing power, efficiency being paramount, ASICs are stripped down, bare minimum, hardware representations of a specific coin’s algorithm.
This gives ASICS a massive advantage in terms of raw hashing power and also in terms of energy consumption against CPUs/GPUs, but with significant drawbacks of being very expensive to design/manufacture, translating to a high economic barrier for the casual miner. Due to the fact that they are virtual hardware representations of a single targeted algorithm, this means that if a project decides to fork and change algorithms suddenly, your powerful brand-new ASIC becomes a very expensive paperweight. The high costs in developing and manufacturing ASICs and the associated risks involved, make them unfit for mass adoption at this time.
Somewhere on the high end, in the vast hashrate expanse created between GPU and ASIC, sits the FPGA (field programmable gate array). FPGAs are basically ASICs that make some compromises with efficiency in order to have more flexibility, namely they are reprogrammable and often used in the “field” to test an algorithm before implementing it in an ASIC. As a precursor to the ASIC, FPGAs are somewhat similar to GPUs in their flexibility, but require advanced programming skills and, like ASICs, are expensive and still fairly uncommon.
2 Guys 1 ASIC
One of the issues with proof of work incentivizing the pursuit of higher hashrates is in how the network calculates block reward coinbase payouts and rewards miners based on the work that they have submitted. If a coin generated, say a block a minute, and this is a constant, then what happens if more miners jump on a network and do more work? The network cannot pay out more than 1 block reward per 1 minute, and so a difficulty mechanism is used to maintain balance. The difficulty will scale up and down in response to the overall nethash, so if many miners join the network, or extremely high hashing devices such as ASICs or FPGAs jump on, the network will respond accordingly, using the difficulty mechanism to make the problems harder, effectively giving an edge to hardware that can solve them faster, balancing the network. This not only maintains the block a minute reward but it has the added side-effect of energy requirements that scale up with network adoption.
Imagine, for example, if one miner gets on a network all alone with a CPU doing 50 MH/s and is getting all 100 coins that can possibly be paid out in a day. Then, if another miner jumps on the network with the same CPU, each miner would receive 50 coins in a day instead of 100 since they are splitting the required work evenly, despite the fact that the net electrical output has doubled along with the work. Electricity costs miner’s money and is a factor in driving up coin price along with adoption, and since more people are now mining, the coin is less centralized. Now let’s say a large corporation has found it profitable to manufacture an ASIC for this coin, knowing they will make their money back mining it or selling the units to professionals. They join the network doing 900 MH/s and will be pulling in 90 coins a day, while the two guys with their CPUs each get 5 now. Those two guys aren’t very happy, but the corporation is. Not only does this negatively affect the miners, it compromises the security of the entire network by centralizing the coin supply and hashrate, opening the doors to double spends and 51% attacks from potential malicious actors. Uncertainty of motives and questionable validity in a distributed ledger do not mix.
When technology advances in a field, it is usually applauded and welcomed with open arms, but in the world of crypto things can work quite differently. One of the glaring flaws in the current model and the advent of specialized hardware is that it’s never ending. Suppose the two men from the rather extreme example above took out a loan to get themselves that ASIC they heard about that can get them 90 coins a day? When they join the other ASIC on the network, the difficulty adjusts to keep daily payouts consistent at 100, and they will each receive only 33 coins instead of 90 since the reward is now being split three ways. Now what happens if a better ASIC is released by that corporation? Hopefully, those two guys were able to pay off their loans and sell their old ASICs before they became obsolete.
This system, as it stands now, only perpetuates a never ending hashrate arms race in which the weapons of choice are usually a combination of efficiency, economics, profitability and in some cases control.
Implications of Centralization
This brings us to another big concern with expensive specialized hardware: the risk of centralization. Because they are so expensive and inaccessible to the casual miner, ASICs and FPGAs predominantly remain limited to a select few. Centralization occurs when one small group or a single entity controls the vast majority hash power and, as a result, coin supply and is able to exert its influence to manipulate the market or in some cases, the network itself (usually the case of dishonest nodes or bad actors).
This is entirely antithetical of what cryptocurrency was born of, and since its inception many concerted efforts have been made to avoid centralization at all costs. An entity in control of a centralized coin would have the power to manipulate the price, and having a centralized hashrate would enable them to affect network usability, reliability, and even perform double spends leading to the demise of a coin, among other things.
The world of crypto is a strange new place, with rapidly growing advancements across many fields, economies, and boarders, leaving plenty of room for improvement; while it may feel like a never-ending game of catch up, there are many talented developers and programmers working around the clock to bring us all more sustainable solutions.
The Rise of FPGAs
With the recent implementation of the commonly used coding language C++, and due to their overall flexibility, FPGAs are becoming somewhat more common, especially in larger farms and in industrial setting; but they still remain primarily out of the hands of most mining enthusiasts and almost unheard of to the average hobby miner. Things appear to be changing though, one example of which I’ll discuss below, and it is thought by some, that soon we will see a day when mining with a CPU or GPU just won’t cut it any longer, and the market will be dominated by FPGAs and specialized ASICs, bringing with them efficiency gains for proof of work, while also carelessly leading us all towards the next round of spending.
A perfect real-world example of the effect specialized hardware has had on the crypto-community was recently discovered involving a fairly new project called VerusCoin and a fairly new, relatively more economically accessible FPGA. The FPGA is designed to target specific alt-coins whose algo’s do not require RAM overhead. It was discovered the company had released a new algorithm, kept secret from the public, which could effectively mine Verus at 20x the speed of GPUs, which were the next fastest hardware types mining on the Verus network.
Unfortunately this was done with a deliberately secret approach, calling the Verus algorithm “Algo1” and encouraging owners of the FPGA to never speak of the algorithm in public channels, admonishing a user when they did let the cat out of the bag. The problem with this business model is that it is parasitic in nature. In an ecosystem where advancements can benefit the entire crypto community, this sort of secret mining approach also does not support the philosophies set forth by the Bitcoin or subsequent open source and decentralization movements.
Although this was not done in the spirit of open source, it does hint to an important step in hardware innovation where we could see more efficient specialized systems within reach of the casual miner. The FPGA requires unique sets of data called a bitstream in order to be able to recognize each individual coin’s algorithm and mine them. Because it’s reprogrammable, with the support of a strong development team creating such bitstreams, the miner doesn’t end up with a brick if an algorithm changes.
All is not lost thanks to.. um.. Technology?
Shortly after discovering FPGAs on the network, the Verus developers quickly designed, tested, and implemented a new, much more complex and improved algorithm via a fork that enabled Verus to transition smoothly from VerusHash 1.0 to VerusHash 2.0 at block 310,000. Since the fork, VerusHash 2.0 has demonstrated doing exactly what it was designed for- equalizing hardware performance relative to the device being used while enabling CPUs (the most widely available “ASICs”) to mine side by side with GPUs, at a profit and it appears this will also apply to other specialized hardware. This is something no other project has been able to do until now. Rather than pursue the folly of so many other projects before it- attempting to be “ASIC proof”, Verus effectively achieved and presents to the world an entirely new model of “hardware homogeny”. As the late, great, Bruce Lee once said- “Don’t get set into one form, adapt it and build your own, and let it grow, be like water.”
In the design of VerusHash 2.0, Verus has shown it doesn’t resist progress like so many other new algorithms try to do, it embraces change and adapts to it in the way that water becomes whatever vessel it inhabits. This new approach- an industry first- could very well become an industry standard and in doing so, would usher in a new age for proof of work based coins. VerusHash 2.0 has the potential to correct the single largest design flaw in the proof of work consensus mechanism- the ever expanding monetary and energy requirements that have plagued PoW based projects since the inception of the consensus mechanism. Verus also solves another major issue of coin and net hash centralization by enabling legitimate CPU mining, offering greater coin and hashrate distribution.
Digging a bit deeper it turns out the Verus development team are no rookies. The lead developer Michael F Toutonghi has spent decades in the field programming and is a former Vice President and Technical Fellow at Microsoft, recognized founder and architect of Microsoft's .Net platform, ex-Technical Fellow of Microsoft's advertising platform, ex-CTO, Parallels Corporation, and an experienced distributed computing and machine learning architect. The project he helped create employs and makes use of a diverse myriad of technologies and security features to form one of the most advanced and secure cryptocurrency to date. A brief description of what makes VerusCoin special quoted from a community member-
"Verus has a unique and new consensus algorithm called Proof of Power which is a 50% PoW/50% PoS algorithm that solves theoretical weaknesses in other PoS systems (Nothing at Stake problem for example) and is provably immune to 51% hash attacks. With this, Verus uses the new hash algorithm, VerusHash 2.0. VerusHash 2.0 is designed to better equalize mining across all hardware platforms, while favoring the latest CPUs over older types, which is also one defense against the centralizing potential of botnets. Unlike past efforts to equalize hardware hash-rates across different hardware types, VerusHash 2.0 explicitly enables CPUs to gain even more power relative to GPUs and FPGAs, enabling the most decentralizing hardware, CPUs (due to their virtually complete market penetration), to stay relevant as miners for the indefinite future. As for anonymity, Verus is not a "forced private", allowing for both transparent and shielded (private) transactions...and private messages as well"
If other projects can learn from this and adopt a similar approach or continue to innovate with new ideas, it could mean an end to all the doom and gloom predictions that CPU and GPU mining are dead, offering a much needed reprieve and an alternative to miners who have been faced with the difficult decision of either pulling the plug and shutting down shop or breaking down their rigs to sell off parts and buy new, more expensive hardware…and in so doing present an overall unprecedented level of decentralization not yet seen in cryptocurrency.
Technological advancements led us to the world of secure digital currencies and the progress being made with hardware efficiencies is indisputably beneficial to us all. ASICs and FPGAs aren’t inherently bad, and there are ways in which they could be made more affordable and available for mass distribution. More than anything, it is important that we work together as communities to find solutions that can benefit us all for the long term.
In an ever changing world where it may be easy to lose sight of the real accomplishments that brought us to this point one thing is certain, cryptocurrency is here to stay and the projects that are doing something to solve the current problems in the proof of work consensus mechanism will be the ones that lead us toward our collective vision of a better world- not just for the world of crypto but for each and every one of us.
submitted by Godballz to EtherMining [link] [comments]

Dao Ethereum va dau tu Ethereum nhu the nao cho hieu qua tin tuc ve Ethereum tai Viet Nam

Dao Ethereum va dau tu Ethereum nhu the nao cho hieu qua tin tuc ve Ethereum tai Viet Nam
Xem tại đây.

Ethereum được mệnh danh là Bitcoin 2.0 vì cuộc cách mạng về kỹ thuật mà ETH mang lại khi ra đời. Những câu hỏi xung quanh Ethereum mà người mới tìm hiểu thị trường cryptocurrency thường đặt ra như cách đào Ethereum, đầu tư Ethereum, “cách chơi” Ethereum, cách kiếm Ethereum miễn phí và những dự đoán giá Ethereum năm 2018, 2019,… sẽ được giải đáp trong bài viết này.

  1. Cách đào Ethereum và nơi mua máy đào
1.1. Đào Ethereum với Minergate

Hiện nay, có khá nhiều cách đào Ethereum nhưng với người mới thì một số cách đào ETH rất phức tạp. Trong bài viết này, tiendientu.org sẽ hướng dẫn đào Ethereum theo một cách đơn giản và dễ thực hiện là đào Ethereum với Minergate. Ngoài ra, có thể sử dụng một số tool đào ETH như Claymore Ethereum,…

Minergate là một trong những pool đào ETH tốt nhất và phổ biến nhất trên thế giới, nên khi mới bắt đầu, thợ đào có thể chọn pool đào ETH này để tiến hành đào Ethereum.

Bước 1: Đăng ký tài khoản Minergate

Truy cập vào website https://minergate.com/ để tiến hành đăng ký tài khoản.

Sau khi điền thông tin Email và Password, chọn “Sign up & start mining” để đăng ký, sau đó hệ thống của Minergate sẽ gửi một Email để kích hoạt tài khoản. Bạn vào Email rồi bấm vào đường link nhận được.

Bước 2: Tải phần mềm đào Ethereum

Bước 2: Tải phần mềm đào Ethereum.

Click vào nút Download tương ứng với hệ điều hành của máy tính.

Sau khi tải về, bạn tiến hành cài đặt theo các bước. Cài đặt tool đào Ethereum của Minergate khá đơn giản, cũng tương tự như cài các phần mềm bình thường.

Tiến hành cài đặt tool đào Ethereum.

Sau khi cài đặt xong, khởi động chương trình rồi đăng nhập vào để bắt đầu đào Ethereum.

Đăng nhập tài khoản sau khi cài đặt xong tool đào ETH.

Bước 3: Bắt đầu đào Ethereum

– Click chọn Tab Miner.

– Chọn Coin muốn đào là Ethereum.

– Chọn số nhân muốn đào.

– Sau đó click chọn CPU Mining và GPU Mining. Nghĩa là bạn chọn đào Ethereum bằng CPU và GPU.

Lúc này chương trình sẽ mất khoảng 2 – 5 phút để khởi động.

Bước 3: Bắt đầu đào Ethereum.

1.2. Cấu hình máy đào Ethereum chuyên dụng

Tham khảo cấu hình phần cứng đào Ethereum như sau:

  • Main: Nên chọn main có 5 khe PCI-E, như: Biostar H81 Hifi, Asrock H81 Pro BTC motherboard,…
  • CPU: Celeron G3250 hay G1840 có thể giúp bạn tiết kiệm chi phí.
  • RAM: 4GB DDR3 cài hệ điều hành Win10 Untimate 64Bit để chạy phần mềm đào Ethereum.
  • Nguồn: Nên chọn nguồn có công suất thực như HDD/SSD.
  • HDH: Nên cài Win10 64Bit và tắt hết các hiệu ứng Win, tắt update, để Classic, tắt security, đặt Power Option là High performance.
  • VGA: Đây là yêu cầu quan trọng nhất khi cấu hình máy đào ETH chuyên dụng. Bạn cần tìm hiểu kỹ thông tin tốc độ đào Ethereum của các dòng Card màn hình khác nhau trước khi lựa chọn.
Sau khi đã nắm được hết sức mạnh của GPU là bao nhiêu Mh/s, thì bạn có thể thử tính với sức mạnh như vậy, một ngày mình có thể khai thác Ethereum bao nhiêu ở link: https://minergate.com/calculatoethereum.

Kiểm tra với máy đào ETH được cấu hình, một ngày có thể đào bao nhiêu ETH.

Là một miner (thợ đào), Ethereum difficulty hay độ khó đào Ethereum là yếu tố quan trọng cần lưu ý. Độ khó đào ETH tăng cao khi càng có nhiều miner tham gia cạnh tranh đào, dẫn đến tỷ lệ đào trúng ETH thấp đi.

Khi chuẩn bị bắt đầu đào ETH, bạn nên cân nhắc và tìm hiểu kỹ những vấn đề này.

1.3. Mua bán máy đào Ethereum

Sau khi đã tìm hiểu kỹ những thông tin liên quan đến vấn đề đào Ethereum, bạn sẽ muốn tìm cách mua bán máy đào Ethereum, hoặc là để tự mình đào ETH, hoặc là làm trung gian mua đi bán lại.

Hiện trên facebook, telegram có nhiều hội nhóm mua bán trâu cày ETH (bán máy đào Ethereum), bạn có thể tham gia và tìm hiểu ở những diễn đàn của dân “chuyên chăn trâu” này để có thêm nhiều kiến thức, được giải đáp thắc mắc, vấn đề phát sinh.

1.4. Cách kiếm Ethereum miễn phí

Nếu không có nhiều vốn đầu tư những dàn máy đào Ethereum chuyên dụng, chắc hẳn các bạn muốn tìm những cách đào Ethereum miễn phí (đào ETH free) hay kiếm ETH free. Thật ra, chỉ cần search Google là bạn có thể có hàng ngàn kết quả, nhưng phải đặc biệt lưu ý là không có chuyện gì dễ dàng, có rất nhiều trang web lừa đảo (scam) trong cryptocurrency.

Một số cách kiếm Ethereum free như sau:

  • Đào Ethereum free trên một trang web. Dĩ nhiên điều tiên quyết là bạn phải tìm được website uy tín. Cách này có thể trả về rất ít ETH.
  • Tham gia các chương trình airdrop, bounty của các dự án ICO. Sau đó, dự án có thể trả cho bạn bằng ETH hoặc token dự án, bạn bán ra trên các sàn giao dịch Ethereum để thu về ETH.
tiendientu.org-dau-tu-ethereum-5
Cách kiếm Ethereum miễn phí.

Những cách kể trên chỉ là lý tưởng, độc giả cần nghiên cứu, xem xét kỹ các hình thức kiếm ETH miễn phí, vì có thể dễ dàng rơi vào một vụ scam làm mất cả thời gian, sức lực lẫn tiền bạc của chính mình.

  1. Cách đầu tư Ethereum
2.1. Có nên đầu tư Ethereum không?

Cuối năm 2017 và giai đoạn đầu năm 2018, cái tên Ethereum nổi lên trong cộng đồng như là một trong những đồng coin giá trị đáng đầu tư nhất. Đã có rất nhiều đánh giá tốt về đồng coin của Vitalik Buterin, và đồng thời giá ETH thực sự mang lại lợi nhuận cho nhà đầu tư qua những lần tăng mạnh.

Tuy nhiên, càng dần về cuối năm 2018, tin tức Ethereum tiêu cực xuất hiện liên tiếp. Casper Ethereum và những nâng cấp khác đều lần lượt bị trì hoãn, làm cộng đồng dần mất niềm tin với ETH. Quá trình chuyển thuật toán ETH từ Proof-of-Work sang Proof-of-Stake thu hút sự quan tâm rất lớn, nhưng cần tốn nhiều thời gian để thực hiện, nên không thể trở thành “cú hit” đẩy giá nhất thời.

Có nên đầu tư Ethereum không?

Vậy có nên đầu tư ETH nữa không? “Cách chơi” Ethereum như thế nào để sinh lời nhất? Điều này tùy thuộc vào sự tin tưởng của bạn vào tương lai Ethereum. Ngoài vấn đề về giá cả, chúng ta cần hiểu biết cả những công nghệ và phát triển đằng sau đồng altcoin này, từ đó có được đánh giá đúng đắn nhất về ETH và dự đoán giá Ethereum năm 2018 cũng như những năm tiếp theo. Cách chơi ETH có nhiều kiểu, trade lướt sóng hay đầu tư dài hạn là tùy thuộc vào phương pháp và nhận định của từng người.

Theo những ETH news mới nhất, đợt hard fork Ethereum tiếp theo là Constantinople sau bao lần trì hoãn đã được ấn định vào tháng 1/2019. Cộng đồng đang “nín thở” chờ đón Ethereum hard fork này, vì nó là một yếu tố quan trọng trong quá trình phát triển công nghệ của đồng altcoin. Nếu Constantinople thành công theo đúng dự kiến, nhà đầu tư và người hâm mộ có lẽ sẽ có thêm lòng tin khi đầu tư Ethereum.

2.2. Check ETH transaction – Kiểm tra giao dịch ETH

Để kiểm tra lịch sử giao dịch Ethereum, hay lịch sự chuyển ETH từ ví này sang ví khác, chúng ta thực hiện theo các bước sau:

  • vào https://etherscan.io/
  • nhập vào ô Search by Address… địa chỉ ví A hoặc ví B
  • chọn GO
Etherscan (không phải là Ethereum scan nhé!) sẽ show ra lịch sử giao dịch của ví, hay tất cả TxHash của chiếc ví. Muốn check TxID ETH nào, bạn click vào giao dịch đó để xem chi tiết.

Check ETH transaction.
Ở mục TxReceipt Status:

  • nếu Success tức là giao dịch này đã thực hiện thành công và ví người nhận đã nhận được ETH
  • nếu Pending nghĩa là giao dịch này vẫn đang trong quá trình xác nhận và ví của người nhận vẫn chưa nhận được ETH

Kiểm tra giao dịch ETH.

Bên cạnh check ETH transaction, một nỗi băn khoăn khác của người dùng là Gas limit Ethereum là gì? Gas limit Ethereum được gọi là giới hạn năng lượng vì đó là số Ether tối thiểu mà bạn sẵn sàng chi trả cho phí giao dịch. Điều này tránh được tình huống có một lỗi ở nơi nào đó trong hợp đồng, và bạn gửi 1 ETH mà không có nơi nhận. Nếu bạn không đủ gas limit Ethereum thì khi gửi giao dịch sẽ gặp lỗi “Out of Gas” và giao dịch không được thực hiện.

Bạn có thể kiểm tra các mức gas ETH hiện nay với ETH Gas Station tại địa chỉ web: https://ethgasstation.info/index.php để tính toán được phí giao dịch ETH phù hợp nhất.

ETH Gas Station.v

  1. Cách tìm kiếm thông tin và đọc thông tin về Ethereum
Thị trường cryptocurrency biến động rất mạnh và news Ethereum xuất hiện liên tục. Để cập nhật những thông tin, tin tức Ethereum mới nhất và thường xuyên, các bạn có thể theo dõi trên các trang web ETH news phổ biến như: Cointelegraph, Bitcoinist, CCN, News.bitcoin,… và các mạng xã hội như Twitter, Telegram, Facebook cũng như những diễn đàn cryptocurrency như Bitcointalk.

Dù có một số dự báo giá Ethereum 2018 rất tốt, sẽ tăng mạnh nhưng thực tế thì giá ETH liên tục biến động lên xuống thất thường. Vào ngày 13/1/2018, giá Ethereum đạt đỉnh điểm hơn 1.440 USD, đánh dấu “thời khắc huy hoàng” của đồng altcoin là “vua của mọi altcoin” khi đó. Nhưng sau đó, giá ETH bắt đầu sụt giảm, đến tháng 12/2018 chỉ dao động quanh cột mốc 100 USD. Những biến động đó được thể hiện một phần qua biểu đồ giá ETH trên Coinmarketcap như sau:

Biểu đồ giá ETH.

  1. Tóm tắt
Hiện nay, có khá nhiều cách đào Ethereum nhưng với người mới thì một số cách đào ETH rất phức tạp. Trong bài viết này, tiendientu.org sẽ hướng dẫn đào Ethereum theo một cách đơn giản và dễ thực hiện là đào Ethereum với Minergate. Ngoài ra, có thể sử dụng một số tool đào ETH như Claymore Ethereum,… Minergate là một trong những pool đào ETH tốt nhất và phổ biến nhất trên thế giới, nên khi mới bắt đầu, thợ đào có thể chọn pool đào ETH này để tiến hành đào Ethereum.

Là một miner (thợ đào), Ethereum difficulty hay độ khó đào Ethereum là yếu tố quan trọng cần lưu ý. Độ khó đào ETH tăng cao khi càng có nhiều miner tham gia cạnh tranh đào, dẫn đến tỷ lệ đào trúng ETH thấp đi.

Đào Ethereum và đầu tư Ethereum như thế nào cho hiệu quả, tin tức về Ethereum tại Việt Nam.

Vậy có nên đầu tư ETH nữa không? “Cách chơi” Ethereum như thế nào để sinh lời nhất? Điều này tùy thuộc vào sự tin tưởng của bạn vào tương lai Ethereum. Ngoài vấn đề về giá cả, chúng ta cần hiểu biết cả những công nghệ và phát triển đằng sau đồng altcoin này, từ đó có được đánh giá đúng đắn nhất về ETH và dự đoán giá Ethereum năm 2018 cũng như những năm tiếp theo.

Check ETH transaction trên Etherscan (không phải Ethereum scan) để kiểm tra lịch sử các giao dịch Ethereum.

Cập nhật tin tức mới nhất về blockchain và cryptocurrency tại Tiendientu.org
submitted by tiendientuorg to u/tiendientuorg [link] [comments]

Okay so here's a wild (and charitable) idea.

Here is an idea for a Bitcoin Non-Profit organization.
There are a few 1200Mh/s cards out there for around $30 on Amazon right now. If enough people got those and created a pool together, they could make a bit of profit.
As the price of Bitcoin exponentially rises, the value of smaller mining projects becomes higher. If the price of BTC rises to such wild sizes as $10,000/BTC, suddenly, that .3 BTC we got this month is worth $3,000. Looking at the math, its not that difficult to get .3 BTC per month either.
A small investment, $30/per person, spread across a vast number of people. Say 100 gets us, 120Gh/s. (each card rates at 1200Mh/s x 100 cards ) Now if one person were to purchase this many cards, it will cost well over $30,000. Instead, by spreading out the funding to a large number of investors, we lessen the risk of loss.
So 120Gh/s could get us around 1.19 BTC/month using the TripleMining Pool. Or if we are super savvy we can look into creating our own pool. (not sure if this would help or hurt)
So that 1.19BTC is worth, at today's exchange rate, $995. Multiply that by 12 months and we have 14.28 BTC to share with communities and those in need. If the price of BTC goes up to say, $2000/BTC, we now have $28,560.
A lot of good can be done with this money. We can set up a joint account and figure out a way to make sure that no one person has control over all the money. Checks and balances and such.
The interesting thing here is that when a large group of people pool their resources together in order to create this capital gain, there is only a massive benefit if that gain is not split back up amongst all those in the group. The group as a whole ends up gaining much more than just the individuals in terms of purchasing power. 14 BTC can do more than .14 BTC.
Would anyone on here be interested in taking on an endeavor such as this? Our very own community of charitable miners! It's like the wild west or something!
submitted by Shoong to Bitcoin [link] [comments]

The Problem with PoW

The Problem with PoW

Miners have always had it rough..
"Frustrated Miners"


The Problem with PoW
(and what is being done to solve it)

Proof of Work (PoW) is one of the most commonly used consensus mechanisms entrusted to secure and validate many of today’s most successful cryptocurrencies, Bitcoin being one. Battle-hardened and having weathered the test of time, Bitcoin has demonstrated the undeniable strength and reliability of the PoW consensus model through sheer market saturation, and of course, its persistency.
In addition to the cost of powerful computing hardware, miners prove that they are benefiting the network by expending energy in the form of electricity, by solving and hashing away complex math problems on their computers, utilizing any suitable tools that they have at their disposal. The mathematics involved in securing proof of work revolve around unique algorithms, each with their own benefits and vulnerabilities, and can require different software/hardware to mine depending on the coin.
Because each block has a unique and entirely random hash, or “puzzle” to solve, the “work” has to be performed for each block individually and the difficulty of the problem can be increased as the speed at which blocks are solved increases.
Hashrates and Hardware Types
While proof of work is an effective means of securing a blockchain, it inherently promotes competition amongst miners seeking higher and higher hashrates due to the rewards earned by the node who wins the right to add the next block. In turn, these higher hash rates benefit the blockchain, providing better security when it’s a result of a well distributed/decentralized network of miners.
When Bitcoin first launched its genesis block, it was mined exclusively by CPUs. Over the years, various programmers and developers have devised newer, faster, and more energy efficient ways to generate higher hashrates; some by perfecting the software end of things, and others, when the incentives are great enough, create expensive specialized hardware such as ASICs (application-specific integrated circuit). With the express purpose of extracting every last bit of hashing power, efficiency being paramount, ASICs are stripped down, bare minimum, hardware representations of a specific coin’s algorithm.
This gives ASICS a massive advantage in terms of raw hashing power and also in terms of energy consumption against CPUs/GPUs, but with significant drawbacks of being very expensive to design/manufacture, translating to a high economic barrier for the casual miner. Due to the fact that they are virtual hardware representations of a single targeted algorithm, this means that if a project decides to fork and change algorithms suddenly, your powerful brand-new ASIC becomes a very expensive paperweight. The high costs in developing and manufacturing ASICs and the associated risks involved, make them unfit for mass adoption at this time.
Somewhere on the high end, in the vast hashrate expanse created between GPU and ASIC, sits the FPGA (field programmable gate array). FPGAs are basically ASICs that make some compromises with efficiency in order to have more flexibility, namely they are reprogrammable and often used in the “field” to test an algorithm before implementing it in an ASIC. As a precursor to the ASIC, FPGAs are somewhat similar to GPUs in their flexibility, but require advanced programming skills and, like ASICs, are expensive and still fairly uncommon.
2 Guys 1 ASIC
One of the issues with proof of work incentivizing the pursuit of higher hashrates is in how the network calculates block reward coinbase payouts and rewards miners based on the work that they have submitted. If a coin generated, say a block a minute, and this is a constant, then what happens if more miners jump on a network and do more work? The network cannot pay out more than 1 block reward per 1 minute, and so a difficulty mechanism is used to maintain balance. The difficulty will scale up and down in response to the overall nethash, so if many miners join the network, or extremely high hashing devices such as ASICs or FPGAs jump on, the network will respond accordingly, using the difficulty mechanism to make the problems harder, effectively giving an edge to hardware that can solve them faster, balancing the network. This not only maintains the block a minute reward but it has the added side-effect of energy requirements that scale up with network adoption.
Imagine, for example, if one miner gets on a network all alone with a CPU doing 50 MH/s and is getting all 100 coins that can possibly be paid out in a day. Then, if another miner jumps on the network with the same CPU, each miner would receive 50 coins in a day instead of 100 since they are splitting the required work evenly, despite the fact that the net electrical output has doubled along with the work. Electricity costs miner’s money and is a factor in driving up coin price along with adoption, and since more people are now mining, the coin is less centralized. Now let’s say a large corporation has found it profitable to manufacture an ASIC for this coin, knowing they will make their money back mining it or selling the units to professionals. They join the network doing 900 MH/s and will be pulling in 90 coins a day, while the two guys with their CPUs each get 5 now. Those two guys aren’t very happy, but the corporation is. Not only does this negatively affect the miners, it compromises the security of the entire network by centralizing the coin supply and hashrate, opening the doors to double spends and 51% attacks from potential malicious actors. Uncertainty of motives and questionable validity in a distributed ledger do not mix.
When technology advances in a field, it is usually applauded and welcomed with open arms, but in the world of crypto things can work quite differently. One of the glaring flaws in the current model and the advent of specialized hardware is that it’s never ending. Suppose the two men from the rather extreme example above took out a loan to get themselves that ASIC they heard about that can get them 90 coins a day? When they join the other ASIC on the network, the difficulty adjusts to keep daily payouts consistent at 100, and they will each receive only 33 coins instead of 90 since the reward is now being split three ways. Now what happens if a better ASIC is released by that corporation? Hopefully, those two guys were able to pay off their loans and sell their old ASICs before they became obsolete.
This system, as it stands now, only perpetuates a never ending hashrate arms race in which the weapons of choice are usually a combination of efficiency, economics, profitability and in some cases control.
Implications of Centralization
This brings us to another big concern with expensive specialized hardware: the risk of centralization. Because they are so expensive and inaccessible to the casual miner, ASICs and FPGAs predominantly remain limited to a select few. Centralization occurs when one small group or a single entity controls the vast majority hash power and, as a result, coin supply and is able to exert its influence to manipulate the market or in some cases, the network itself (usually the case of dishonest nodes or bad actors).
This is entirely antithetical of what cryptocurrency was born of, and since its inception many concerted efforts have been made to avoid centralization at all costs. An entity in control of a centralized coin would have the power to manipulate the price, and having a centralized hashrate would enable them to affect network usability, reliability, and even perform double spends leading to the demise of a coin, among other things.
The world of crypto is a strange new place, with rapidly growing advancements across many fields, economies, and boarders, leaving plenty of room for improvement; while it may feel like a never-ending game of catch up, there are many talented developers and programmers working around the clock to bring us all more sustainable solutions.
The Rise of FPGAs
With the recent implementation of the commonly used coding language C++, and due to their overall flexibility, FPGAs are becoming somewhat more common, especially in larger farms and in industrial setting; but they still remain primarily out of the hands of most mining enthusiasts and almost unheard of to the average hobby miner. Things appear to be changing though, one example of which I’ll discuss below, and it is thought by some, that soon we will see a day when mining with a CPU or GPU just won’t cut it any longer, and the market will be dominated by FPGAs and specialized ASICs, bringing with them efficiency gains for proof of work, while also carelessly leading us all towards the next round of spending.
A perfect real-world example of the effect specialized hardware has had on the crypto-community was recently discovered involving a fairly new project called VerusCoin and a fairly new, relatively more economically accessible FPGA. The FPGA is designed to target specific alt-coins whose algo’s do not require RAM overhead. It was discovered the company had released a new algorithm, kept secret from the public, which could effectively mine Verus at 20x the speed of GPUs, which were the next fastest hardware types mining on the Verus network.
Unfortunately this was done with a deliberately secret approach, calling the Verus algorithm “Algo1” and encouraging owners of the FPGA to never speak of the algorithm in public channels, admonishing a user when they did let the cat out of the bag. The problem with this business model is that it is parasitic in nature. In an ecosystem where advancements can benefit the entire crypto community, this sort of secret mining approach also does not support the philosophies set forth by the Bitcoin or subsequent open source and decentralization movements.
Although this was not done in the spirit of open source, it does hint to an important step in hardware innovation where we could see more efficient specialized systems within reach of the casual miner. The FPGA requires unique sets of data called a bitstream in order to be able to recognize each individual coin’s algorithm and mine them. Because it’s reprogrammable, with the support of a strong development team creating such bitstreams, the miner doesn’t end up with a brick if an algorithm changes.
All is not lost thanks to.. um.. Technology?
Shortly after discovering FPGAs on the network, the Verus developers quickly designed, tested, and implemented a new, much more complex and improved algorithm via a fork that enabled Verus to transition smoothly from VerusHash 1.0 to VerusHash 2.0 at block 310,000. Since the fork, VerusHash 2.0 has demonstrated doing exactly what it was designed for- equalizing hardware performance relative to the device being used while enabling CPUs (the most widely available “ASICs”) to mine side by side with GPUs, at a profit and it appears this will also apply to other specialized hardware. This is something no other project has been able to do until now. Rather than pursue the folly of so many other projects before it- attempting to be “ASIC proof”, Verus effectively achieved and presents to the world an entirely new model of “hardware homogeny”. As the late, great, Bruce Lee once said- “Don’t get set into one form, adapt it and build your own, and let it grow, be like water.”
In the design of VerusHash 2.0, Verus has shown it doesn’t resist progress like so many other new algorithms try to do, it embraces change and adapts to it in the way that water becomes whatever vessel it inhabits. This new approach- an industry first- could very well become an industry standard and in doing so, would usher in a new age for proof of work based coins. VerusHash 2.0 has the potential to correct the single largest design flaw in the proof of work consensus mechanism- the ever expanding monetary and energy requirements that have plagued PoW based projects since the inception of the consensus mechanism. Verus also solves another major issue of coin and net hash centralization by enabling legitimate CPU mining, offering greater coin and hashrate distribution.
Digging a bit deeper it turns out the Verus development team are no rookies. The lead developer Michael F Toutonghi has spent decades in the field programming and is a former Vice President and Technical Fellow at Microsoft, recognized founder and architect of Microsoft's .Net platform, ex-Technical Fellow of Microsoft's advertising platform, ex-CTO, Parallels Corporation, and an experienced distributed computing and machine learning architect. The project he helped create employs and makes use of a diverse myriad of technologies and security features to form one of the most advanced and secure cryptocurrency to date. A brief description of what makes VerusCoin special quoted from a community member-
"Verus has a unique and new consensus algorithm called Proof of Power which is a 50% PoW/50% PoS algorithm that solves theoretical weaknesses in other PoS systems (Nothing at Stake problem for example) and is provably immune to 51% hash attacks. With this, Verus uses the new hash algorithm, VerusHash 2.0. VerusHash 2.0 is designed to better equalize mining across all hardware platforms, while favoring the latest CPUs over older types, which is also one defense against the centralizing potential of botnets. Unlike past efforts to equalize hardware hash-rates across different hardware types, VerusHash 2.0 explicitly enables CPUs to gain even more power relative to GPUs and FPGAs, enabling the most decentralizing hardware, CPUs (due to their virtually complete market penetration), to stay relevant as miners for the indefinite future. As for anonymity, Verus is not a "forced private", allowing for both transparent and shielded (private) transactions...and private messages as well"
If other projects can learn from this and adopt a similar approach or continue to innovate with new ideas, it could mean an end to all the doom and gloom predictions that CPU and GPU mining are dead, offering a much needed reprieve and an alternative to miners who have been faced with the difficult decision of either pulling the plug and shutting down shop or breaking down their rigs to sell off parts and buy new, more expensive hardware…and in so doing present an overall unprecedented level of decentralization not yet seen in cryptocurrency.
Technological advancements led us to the world of secure digital currencies and the progress being made with hardware efficiencies is indisputably beneficial to us all. ASICs and FPGAs aren’t inherently bad, and there are ways in which they could be made more affordable and available for mass distribution. More than anything, it is important that we work together as communities to find solutions that can benefit us all for the long term.
In an ever changing world where it may be easy to lose sight of the real accomplishments that brought us to this point one thing is certain, cryptocurrency is here to stay and the projects that are doing something to solve the current problems in the proof of work consensus mechanism will be the ones that lead us toward our collective vision of a better world- not just for the world of crypto but for each and every one of us.
submitted by Godballz to gpumining [link] [comments]

Why not forking away makes Zen less valuable.

Often people ask what is Bitcoin backed by? What is any crypto-currency backed with? The answer is electricity used to mine it. I did some calculations today how much power is backing Zen(not 100% accurate as change all the time but you will get the picture). The answer may surprise you.

Hashrate was at 92,963,252.00 Sols. I will assume no sane GPU miner is mining Zen anymore, z9 mini overclocked produces 16500 Sols for 390W. It takes 5634 z9 mini's to create this hashrate.
Very decentralized, would you say? I know. so 300 ZEN is mined each hour. At the same time 2197 kW of electricity are used to mine those coins. This means, 7.32 kW are used for each 1 Zen that is being mined. At average electricity price of 0.1 cents per kW that makes 0.732$ per 1 Zen.

Now lets calculate network prior to ASICS. 3 Months ago, network has was around 60 Mh/s. Average gpu's that mined it were GTX 1070 which used 170W for 500 Sols. This means it took 120 000 GPU's for that hashrate, and it used 20400 kw of electricity.
This means that for each Zen to be mined on GPU only network prior to ASICS, we needed 64 kW of power per Zen. Or 6,4$ used for electricity. Which one is safer again guys? This kind of calculations didnt even consider newer and more power efficient A9 ZMaster that has 50 000 Sols per 620 W or Asic Miner Co Zeon200,000 Sols which uses 2200W.

Did the same calculations on Zcash (which stayed on equihash as well) and Bitcoin Gold which forked to 144_5 algo just to compare it. On Zcash it takes 6.145 $ worth of electricity to mine 1 Zcash. 3 months ago, it was 53,2$.

Did the current calculation for Bitcoin Gold as well. Most efficient mining on Bitcoin Gold is at 110W and 65% power limit with GTX 1070 making 42-45 Sols per card. Results is 7.2$ worth of electricity needed per 1 Bitcoin Gold.

If you think i made a mistake with the calculations, please contribute.
Thank you
(from Discord) Trololino





submitted by Spiral1990 to Horizen [link] [comments]

Mining Bitcoin with Excel Calculator de profit bitcoin coinwarz Bitcoin Hash Calculator mining kalkulator eth ethereum - calculator mining ethereum Bitcoin Farming Guide  Escape From Tarkov

Bitcoin Calculator. The CoinDesk Bitcoin Calculator tool allows you to convert any amount to and from bitcoin (up to six decimal places) and your preferred world currencies, with conversion rates BT 24: 159.70 s BR: 9.70026 LB: 551,221 NH: 1.16 Mh/s: inf inf : 1800.00 kh/s 190 Watt: 0.00000010 BTC(Mercatox) 0.00%: N/A N/A: 3,946.56956104 0.00039466: $3.62$3.40 Bitcoin Vault (BTCV) mining profit depending on your hash rate, power consumption and electricity cost. Bitcoin Vault (BTCV) Mining Calculator $9199.54 $42.70 $69.49 $68.88 $235.79 $59.01 $6.06 Accurate Bitcoin mining calculator trusted by millions of cryptocurrency miners. Updated in 2020, the newest version of the Bitcoin profit calculator makes it simple and easy to quickly calculate mining profitability for your Bitcoin mining hardware. Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero. Do you think you've got what it takes to join the tough world of cryptocurrency mining?

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Mining Bitcoin with Excel

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