7 Best ASIC Miners 2020: Tried and Tested With Reviews

03-28 03:04 - '50 TH/s ASIC Bitcoin Miners CHEAP ( Minimint 50T )by Minimint - Nonameminers.' (self.Bitcoin) by /u/Lizardcorn removed from /r/Bitcoin within 191-201min

'''
Minimint 50T
We, (now Nonameminers) are an established tech company experimenting with cryptocurrency mining. Focusing on more energy efficient, powerful and affordable mining equipment. We use our own mining chips that have been proven efficient to improve the ASIC manufacturing process. At this stage we focus solely on the SHA-256 algorithm.
We have developed a new efficient ASIC miner for the SHA-256, proudly presenting you with the Minimint 50T! A new powerful, energy efficient and Affordable ASIC!
We would like to offer the Reddit community a discount, however only the first 10 orders will qualify for the discount. Coupon code: 30OFF
We hope for a successful launch and your support!
The quick miners specs:
Algorithm: SHA-256
Hashrate: ~50TH/s
Power: 1700W
Noise: 45 db
Weight: 5.3 kg
[Claim Yours!]1
For more information visit our website, if you have any questions feel free to get in touch: [[email protected]]2
WE ARE NOT AFFILIATED WITH ANY OTHER MINING COMPANY!!
'''
50 TH/s ASIC Bitcoin Miners CHEAP ( Minimint 50T )by Minimint - Nonameminers.
Go1dfish undelete link
unreddit undelete link
Author: Lizardcorn
1: no*am*miners*com/*r*duc*/*in*mint**0t/ 2: mailto:[email protected]
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

5 more (I already have 2) 2.5Gh/S Blue Fury ASIC USB bitcoin miners off ebay for pretty cheap

5 more (I already have 2) 2.5Gh/S Blue Fury ASIC USB bitcoin miners off ebay for pretty cheap submitted by brainguy to drunken_purchases [link] [comments]

Cottage has cheap power, wondering about ASIC miners. Not an expert, so does it make any sense? /r/Bitcoin

Cottage has cheap power, wondering about ASIC miners. Not an expert, so does it make any sense? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Mining Still Exist?

Hey I’m a newb with bitcoin. But I would love to know if bitcoin mining still exist or something of the past? And if it does exist, where are some places or sites to do it?
submitted by iamnickycharles to Bitcoin [link] [comments]

bitcoin starter

hey i just got into bitcoin i know how to buy and sell but i wanted to get into mining in anyone could explain the steps and feasibility of that it would be greatly appreciated
submitted by reilly426 to Bitcoin [link] [comments]

What’s the difference between a 15 BTC and 35 BTC farm?

Hello Bitfriends
I’m a long term holder from years ago, and have about 35 BTC under my control. I want to use the 35 Bitcoins to build a Mining farm business.
My research leads me to believe that at this budget, I’m best to fit out a 20 foot or 40 foot shipping container with electrical infrastructure, rent some land in an area with existing electrical infrastructure and cheap electricity and fill them with ASIC miners. This will likely be overseas from my current country, and preliminary research leads me towards countries with lower political risk like Canada.
I am in the early stages of information gathering and planning, and would like to open my Mining farm some time between 2020 and 2023, with the long term objective of raising money and eventually building these Mining farms in multiple countries, diversifying our risk while generating bitcoins for myself and shareholders. I am a big bitcoin bull and believe in the project long term. I have owned and managed small businesses before, but have no experience in the world of building data-centres.
I like the economics of running a Mining Farm, and want to get my hands dirty, learn how they work, how to build them, and get “in the game”.
Does anyone have experience or has been in my place before that can help me navigate from where I am to where I want to go?
Questions:
• If you were in my position, would you jump right in and start up a mine ASAP - once cheap power and stable geopolitical area is located? or would you try and wait to sell the bitcoins for fiat at the next bubble peak? Or possibly after the capitulation after the next peak - I read that after some time in 2018 lots of new/inefficient miners capitulated and needed to sell their rigs due to the drop in price during which ‘strong’ miners scooped up lots of cheap discounted mining rigs
• What’s the difference between a 15 BTC Mining Farm, and a 35 BTC Mining Farm (Assuming that’s the total budget - including travel, legal, mistakes, capex, opex, everything)
• How would you do something like this. What type of people are essential to get as part of my “team”? I would be prepared to ‘learn on the job, and spend 1-2 years out at the site learning how to set up and maintain the Mining Farm, but I would need to learn from someone. Should I go to existing miners and ask them for help/guidance, or hire an electrical engineer, or someone with experience and get him on the payroll/some equity in the business (also contribution of capital would be ideal). Or should I find people/companies that build data centres as their usual business and try to get them to help?
• Am I a fool to think that it’s possible to mine profitably at this scale, and should I just hodl these coins and get a by the hour job? /s
Thanks for reading, and let me know if you have any questions or can help.
TLDR: I'm a noob who wants to start mining with 35 BTC as starting capital, despite having never mined before and being non technical. I want to learn the 'trade' and business of building bitcoin data centers without getting rekt.
submitted by MiningFarmOperator to BitcoinMining [link] [comments]

RX5700 GPU mining rig vs ASIC miner A10 for Ethereum mining !?

RX5700 GPU mining rig vs ASIC miner A10 for Ethereum mining !?
https://preview.redd.it/9txedwr1wy251.jpg?width=1920&format=pjpg&auto=webp&s=e91116819600b605ffca6ce830fdd582d3965466
I want to clear out the air about Ethereum mining. The GPU mining vs Asic mining, is Ethereum now Asic mining Algorithm. Can RX5700 most efficient Graphic cards for ETH mining Compete with Asic miner A10.
For the last day i have been working on some stats and ROI for 2 types of investment for 12xGPU RX5700 MineBox 12 mining rig and Innosilicon A10 ETH ASIC miner. My goal was to let the data speak about it self and then make a decision what is better investment for ethereum mining GPU or ASIC. Im compering 2 most efficient miners :
  1. ASIC miner Innosilicon A10 , costs 3000usd(specs. 500mh/s at 860w)
  2. GPU miner MineBox12 , cost 4487euro ( specs 700mh/s at 1800w)
Miner price is about the average would it cost to you 12xGPU mining rig might cost you 100-300 cheaper if you would build one yourself. Innosilicon A10 would cost you lot more if you would like to import it out of China. Price would be closer to 3500euro + you would need to buy power-supply for it.
I have created google spreadsheet and inserted the GPU data and performance by the current currencies price and mining profitability. Included also my thoughts about advantages and disadvantages using GPU or Asic miner:

https://preview.redd.it/mojtvv7yvy251.jpg?width=1234&format=pjpg&auto=webp&s=f3384599287ea15a4b6f92ffb973a4019330bdca
Opinion based on mining profit data. We can see that MineBox 12 ROI if electric price is free or very cheap is faster then ASIC miner A10. And even at 0.10c a kw/h at current Ethereum price there is only 80day difference on Equipment payback time. But the biggest thing is for example when your miners are paid back your investment. You still are available to resell your MineBox 12 hardware for other use case or just mine different coins. Where with Innosilicon A10 you can throw it into bin as soon as ETHASH coins are not profitable to mine. This is the biggest downside of Asic miners. So to answer your question is ETH asic mining coin. My answer would be Yes ASIC miners are slightly more profitable , BUT they are not worth the risk you are getting by buying one. Also you can see clearly that GPU miners has lot more advantages then Asic miners. The difference on ETH miners are not so noticeable then like it was Bitcoin GPU vs ASIC mining. There is still profit to be made with GPUs mining ETH. If ETH switches to new POW ProgPOW , again another benefit for GPU rigs as the same GPUs are quite efficient mining ProgPow. Buying and Asic miner there is to much risk, saying from experience. Have lost a lot of money, my last adventure bought 5xAntminer S17 back in November and 4 of them hashing boards stopped working after 1st week. Not counting the previous purchases Antminer D3 etc..
Let me guys know what you think about this, would your rather use ASIC miner for mining ETH of GPU miner?
video : https://www.youtube.com/watch?v=YgVl7pDkkwg&feature=youtu.be
submitted by mineshop to gpumining [link] [comments]

Epic Cash AMA Recap with CryptoDiffer Community

CryptoDiffer team Hello, everyone! We are glad to meet here: Max Freeman (@maxfreeman4), Project Lead at Epic Cash Yoga Dude (@Yogadude), PR&Marketing at Epic Cash Xenolink (@Xenolink), Advisor at Epic Cash
Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here!
Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here!
Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us!
CryptoDiffer team Let`s start from the first introduction question: Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash?
Yoga Dude PR&Marketing at Epic Cash
Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing.
I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially.
Xenolink Advisor at Epic Cash
Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers!
Max Freeman Project Lead at Epic Cash
I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level.
CryptoDiffer team
Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:)
Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one?
Max Freeman Project Lead at Epic Cash
I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble
We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly.
There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos
that explain why we believe we have created something truly special here.
Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange.
Yoga Dude PR&Marketing at Epic Cash
Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility.
Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved.
Xenolink Advisor at Epic Cash
To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry.
To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone.
CryptoDiffer team
Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months?
Yoga Dude PR&Marketing at Epic Cash
Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content.
We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money.
You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages
Max Freeman Project Lead at Epic Cash
Our future development roadmap will be published soon and includes 4 tracks:
Usability
Mining
Core Protocol
Ecosystem Development
Core Protocol
Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020
Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020
Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a
Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a
Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a
Usability
GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020
Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020
Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a
Mining
RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a
The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin.
Ecosystem Development
Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a
Xenolink Advisor at Epic Cash
From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide.
CryptoDiffer team
Great, thank you for your answers, we now can move to community questions part!
Cryptodiffer Community
You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC?
Max Freeman Project Lead at Epic Cash
The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part.
Cryptodiffer Community
To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from?
Xenolink Advisor at Epic Cash
Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project.
Cryptodiffer Community
Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you!
Yoga Dude PR&Marketing at Epic Cash
First, I must admit that I am still a huge fan and HODLer of Monero. That said:
✅ our blockchain is MUCH lighter than Monero’s
✅ our transaction processing speed is much faster
✅ our address-less blockchain is more private
✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU
Cryptodiffer Community
  1. the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
  2. On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
  1. This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
  2. The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community
$EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future?
Who is Epic Biggest competitors?
And what’s makes epic better than competitors?
Xenolink Advisor at Epic Cash
We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity.
Cryptodiffer Community
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Yoga Dude PR&Marketing at Epic Cash
Since we are a community project, we have many developers, in addition to the core team.
Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks.
We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked.
Cryptodiffer Community
EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges?
Xenolink Advisor at Epic Cash
In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Max Freeman Project Lead at Epic Cash
Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic.
With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash.
As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability
Cryptodiffer Community
Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ?
Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors?
Max Freeman Project Lead at Epic Cash
RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware.
Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses.
Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware.
The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved.
Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem?
Xenolink Advisor at Epic Cash
Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic.
Cryptodiffer Community
I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto?
What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ?
Yoga Dude Pr&Marketing at Epic Cash
Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential.
The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers.
The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique
Cryptodiffer Community
Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI?
Yoga Dude PR&Marketing at Epic Cash
We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on.
Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way.
Cryptodiffer Community
If you could choose one celebrity to promote Epic-cash, who that would be?
Max Freeman Project Lead at Epic Cash
I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences.
I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today.
Epic Cash will have its OWN Celebrities
Cryptodiffer Community
How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it?
Xenolink Advisor at Epic Cash
Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin.
Cryptodiffer Community
what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Max Freeman Project Lead at Epic Cash
There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make.
Cryptodiffer Community
Q1 : What are your major goals to archive in the next 3–4 years?
Q2 : What are your plans to expand and gain more adoption?
Yoga Dude Pr&Marketing at Epic Cash
Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁
We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting.
Cryptodiffer Community
It seems to me that EpicCash will have its first Halving, right? Why a halving so soon?
Is a mobile version feasible?
Max Freeman Project Lead at Epic Cash
Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140.
Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining.
Cryptodiffer Community
What markets will you add after that?
Yoga Dude PR&Marketing at Epic Cash
Well, we are aiming to have ALL markets
Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry)
We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages.
Epic Cash is More than Money and its for Everyone.
Cryptodiffer Community
Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins?
Max Freeman Project Lead at Epic Cash
With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can.
Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Xenolink Advisor at Epic Cash
Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash.
Cryptodiffer Community
  1. You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
  2. How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash
Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well.
Cryptodiffer Community
Do EPICs in 2020 focus more on research and coding, or on sales and implementation?
Yoga Dude PR&Marketing at Epic Cash
We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy.
In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC.
Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters.
Everyone with skin in the game gets the benefit of advancing the cause.
Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content —
https://www.youtube.com/watch?v=XtAVEqKGgqY
a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this
Cryptodiffer Community
I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex?
Let’s talk about the economic model, can EpicCash comply with the concept of value reserve?
Max Freeman Project Lead at Epic Cash
In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader.
We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166
Max Freeman Project Lead at Epic Cash
Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project.
Xenolink Advisor at Epic Cash
Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash .
Yoga Dude Pr&Marketing at Epic Cash
Thank you, CryptoDiffer Team, and this wonderful Community!!!
Cryptodiffer TEAM
Thank you everyone for taking your time and asking great questions
Thank you for your time, it was an insightful session
Spread the love
submitted by EpicCashFrodo to epiccash [link] [comments]

PoW or PoS: The Difference Between Mined and Non-Mined Crypto

PoW or PoS: The Difference Between Mined and Non-Mined Crypto
The whole crypto world discusses how Ethereum will switch from Proof of Work to Proof of Stake now. This change can significantly affect the cryptocurrency market. What are the positive and negative sides of PoW and PoS?
Cryptocurrencies can be divided into two types: those that can be mined (Bitcoin, Litecoin, Monero) and pre-mined ones (Ripple, Stellar, Cardano, EOS, NEO).

What is the big difference?

Although they differ in the method of generation, the basis of both types of crypto is the same: verification. Every transaction processed by the network must be verified by someone to ensure that virtual money has not been spent twice. Here we are talking about the difference in the verification process. Transaction groups are combined into a block; after verification, the block joins other previously confirmed blocks, and create a chain of transactions, or blockchain.

PoW: Mined Crypto

Mining is a process in which individuals, groups, or companies solve complex mathematical equations to verify transaction blocks using powerful computers. These math problems are part of the encryption process that protects transactions from cybercriminals and third party access.
The first who solves the problem and signs a block of transactions receives a reward. The miner, who confirmed the block of transactions e.g. in the Bitcoin network, receives a reward in BTC.

Disadvantages of Mined Crypto

  • Mining can be very expensive due to the large amounts of electricity consumed. In mined crypto with less capitalization, competition is usually lower than in BTC.
  • BTC mining requires special ASIC chips, that are combined into huge farms. Electricity is one of the main expenses for these projects. That is why China, where electricity is relatively cheap, has become a home to four of the five largest Bitcoin mining companies in the world.
  • Mining farms have to spend significant money funds on new equipment, which becomes out of date very fast.
  • Large projects need additional cooling, as servers and graphics cards heat up to high temperatures during operations.
  • The Proof-of-Work model is potentially vulnerable to a 51% attack (when a group of people with 51% of the computing power gains control of the network and its participants). For popular cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) this is not a problem due to their large capitalization. However, minor cryptocurrencies with long block processing times and low daily volumes are risking a lot.

PoS: Non-Mined Crypto

At the other end of the spectrum are pre-mined cryptocurrencies such as Ripple (XRP), Stellar, Cardano, EOS, and NEO.
In the PoS model, super-powered computers are not needed, and participants do not compete for the right to sign the next block. Thus, the costs of this approach are significantly lower. Transaction verification is carried out by cryptocurrency owners. The more cryptocurrencies you have, the longer you own it, the higher the probability that you will be selected to check the transaction block.
Certain mechanisms are built into the system that prevents the dominance of large cryptocurrency holders over the verification process. There are many random ways to select owners who get the right to sign a transaction block. This ensures that small holders have a chance to participate in the process.

Disadvantages of Non-Mined Crypto

Despite the fact that the costs of the Proof-of-Stake method are lower, PoS has its drawbacks.
  • Such cryptocurrencies are not threatened by an attack of 51%, however, another trouble replaces it — a person who posses 51% of all tokens in circulation can gain control of the network and its participants. Of course, in the case of cryptocurrencies with high capitalization, the possibility of this scenario is low, but small partners may suffer from this vulnerability.
  • The Proof-of-Stake model also gives major owners additional votes in determining the future development of the network. Most NEO tokens) belong to several founders, for instance. This helps increase transaction speed and reduces consensus-building time, but also makes cryptocurrency too centralized. In other words, in the PoS model, large players gain significant power, which is theoretically impossible with the PoW model.

Which method is better?

Both methods have their pros and cons. Nevertheless, sooner or later, some of the largest mined currencies (e.g. BTC) will reach their token limit. At this point, they will have to switch to Proof-of-Stake. Since it significantly reduces power consumption and doesn't require powerful computers, gradually all crypto including BTC will switch to a non-mined model just like Ether did.

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submitted by CoinjoyAssistant to ethtrader [link] [comments]

How To Mine Cryptocurrencies

How To Mine Cryptocurrencies

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With cryptocurrencies entering the mainstream with a bang, more and more people every single day develop an interest in this new and strange world of blockchain. A lot of these people come to cryptos because they had heard that it’s possible to make money from them. If you’re one of those people, you’re in luck, because today I want to tell you how to mine cryptocurrency.

Understanding Mining

To put it into very simple terms, crypto mining is a process in which a machine performs certain tasks to obtain a little bit of cryptocurrency. This is the biggest TL;DR possible, so let’s branch out a bit, shall we? Imagine that you have a machine that mines crypto coins. We’ll talk about the specific types of machines later on in the tutorial, but for example’s sake, let’s just say that it’s your own, personal computer and you’re trying to figure out how to mine cryptocurrency. That is a very short and simple way of defining what is cryptocurrency mining. Now let’s move on to what you came here to see; how to mine cryptocurrency.

Cryptocurrency Mining

There are a few ways you could go about cryptocurrency mining. I’ll cover the main ones here, and start from the easiest one – cloud mining.

Method #1 – Cloud Mining

If you’re looking for crypto mining ways, cloud mining is probably the most popular way to mine cryptocurrencies without having to lift a finger. Cloud mining is a process where you pay someone (most often it’s a big corporation) a specific amount of money and “rent out” their mining machine called a “rig”, and the process of mining itself. This rent lasts for an agreed-upon period, through which all of the earnings that the rig makes (minus the electricity and maintenance costs) are transferred to your cryptocurrency wallet. The people (companies) that offer these cloud mining services usually have huge mining facilities with multiple farms (tens or hundreds of rigs stacked and operating together) at their disposal and know perfectly well how to mine cryptocurrency.
Cloud mining has become so popular mainly because it offers the possibility to participate in the world of cryptocurrencies for people who might not have enough money to buy their rigs or who perhaps simply aren’t interested in owning a rig. There are two options of cloud mining – free and paid. Naturally, a lot of people that are looking for ways to mine cryptocurrency would gravitate towards the “free” options, but it does have its drawbacks (very slow mining speeds, extra conditions, etc.). Paid cloud mining usually works like this: It is usually expected that you’ll break even at around the half-a-year – one year mark, and then profit from that point onwards. No one can know for sure, though, because the prices of cryptocurrencies are very volatile and their prices tend to sway by quite a bit.

Method #2 – CPU Mining

CPU mining utilizes processors to mine cryptocurrencies. It used to be a viable option back in the day, but currently, fewer and fewer people choose this method of mining cryptocurrency daily. There are a couple of reasons why that is. First of all, CPU mining is EXTREMELY slow. You could go on for months without noticing the smallest amount of revenue. It’s also usually not worth it – you make very little amounts of money, but you probably spend ten times that amount on electricity and cooling. The problem mitigates itself by a bit if you can find a place that has nice cooling and cheap electricity bills, but that’s rarely the case.
So why do people still even use CPU mining, then?
Well, basically because anyone with a desktop computer could do it. All you need to be able to mine using the CPU method is just a computer and a couple of programs. It is possible to do it with a laptop, but it is VERY STRONGLY NOT ADVISED. Your laptop will probably fry and overheat in a matter of a couple of hours. The fact that it’s so easy to start cryptocurrency mining attracts new CPU miners every day. Some people that are looking for how to mine cryptocurrency don’t care about the details – they just want to start the process as soon as possible, and in any way possible.

Method #3 – GPU Mining

GPU mining is probably the most popular and well-known method of mining cryptocurrencies. If you google “cryptocurrency mining”, GPU rigs are going to be some of the first things that you’ll see.
Cloud miners, for example, use GPU rigs for their services. And these guys are professionals that sometimes have hundreds if not thousands of rigs, so they probably know what they’re doing, right?
GPU mining is very popular because it’s both efficient and relatively cheap. Don’t get me wrong, the construction of the rig itself tends to be costly – but when it comes to its hash speed and the general workforce, the GPU mining rig is great. GPU rigs utilize graphics cards to mine cryptocurrencies. One standard rig is made out of a processor, a motherboard, cooling, rig frame and – of course – a few (2 – 8) graphics cards.A typical price for a well-performing and nicely built GPU mining rig aims to be around the $3000 price range. It is a hefty investment but will pay off much faster than, let’s say, a CPU miner. People looking for ways to mine cryptocurrency should check them out.

Method #4 – ASIC Mining

ASICs (Application-Specific Integrated Circuits) are special devices that are designed explicitly to perform a single task, which in this case is crypto mining. ASICs are very well known and treasured because they produce insane amounts of cryptocurrency when compared to its competitors’ GPU and CPU. But if they are so good, why didn’t I mention them sooner?
Well, mostly because they’re a big subject of controversy. You see, when the ASIC company announced its new version of the machine, the announcement caused an uproar in the cryptocurrency community. Many people have called for an outright ban on these machines.
Why? Because ASICS are so powerful, they rob other miners who are using GPU or CPU rigs of the possibility to keep up both in hash speeds and in earnings. Also, ASICS have twisted the economy of certain specific cryptocurrencies – imagine if the majority of earnings would go to one miner with an ASIC farm, what kind of chaos that would ensue.

The Best Method to Mine Cryptocurrency

Now that you have an understanding of how to mine cryptocurrency and about all of the different ways to do it, which one is the best way?
The method that suits you the most depends solemnly on a few key details: are you willing to spend some initial money? If so, how much? Do you want to OWN a rig? Do you even want to do it with a rig?

Which Cryptocurrency to Mine?

Your choice of gear should also depend on the type of cryptocurrency mining that you’ve decided to do. Some of the obvious favorites would be Bitcoin, Ethereum or Dash. Keep in mind, though, that Bitcoin mining is probably the trickiest of them all – since the coin is so popular, there are many miners around the world tuning into the few pools that there are and trying to snatch at least a small bit of Bitcoin. This might result in you waiting for countless hours until the first drops of Bitcoin start coming in.
Keeping that in mind, your best bet would probably be to stick with Ethereum or some other less-popular cryptocurrency. Depending on your method of choice, check out the prices, calculate when your return on investment would happen, do some math and you’ll figure it out in no time!

Conclusion

As you’ve probably noticed, there are many different ways on how to mine cryptocurrency. These are simply the main methods – if you’d like, you could even forget about mining and jump into Bitcoin faucets – but that’s a whole different story for a whole different day. But it’s an option!
One thing that you should not only remember, but also do right away is to create a cryptocurrency wallet. Decide on the type of cryptocurrency that you want to mine and simply look up the wallet options for that currency. You’ll have no problems finding one for coins like Bitcoin, Ethereum or Litecoin, but if you want to mine the less-known currencies, then you might need to search for a bit until you find a reputable wallet.
Getting a secure and reputable wallet is the most important task when you’re starting with cryptocurrency mining. Imagine if you’d be mining for a year and all of your savings would be stolen only because you didn’t pay enough attention while choosing the wallet and picked a fishy one that got hacked into.
If you’re serious and are looking for ways on how to mine cryptocurrency, I would suggest buying a hardware wallet – they are the safest and most trustworthy cryptocurrency wallets out there.
Well, this is the end of my tutorial on crypto mining. We’ve covered a few different topics and explored the different varieties of cryptocurrency mining methods. Remember – the method that suits you the most will depend solemnly on what you want and what kind of resources you have, so choose carefully! If you do decide on giving mining a chance, I wish you the best of luck!
submitted by everus-world to u/everus-world [link] [comments]

Kepler 2020 LitePaper

Kepler 2020 LitePaper
Kepler is a blockchain privacy platform that aims to release the first ever Confidential Assets on a MimbleWimble Blockchain. Our consensus mechanism is Proof-of-Work. If you’d like to see more, please visit our website: https://kepler.network as well as our documentation site at https://docs.kepler.network
You can check out our LitePaper here: https://keplernetwork.s3.eu-central-1.amazonaws.com/KeplerLitepaper.pdf

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The Kepler LitePaper mentions:

  • Privacy Protection on Blockchain
  • Why Design Kepler
  • What is Kepler
  • Economic Model
  • Future Work
Given the fact that Kepler is a MimbleWimble(MW) blockchain, privacy is one of the most important topics for Kepler, and this goes beyond “simple privacy”.

Let’s begin and explore some of the highlights of the Kepler LitePaper!


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Confidential Transactions (CT)

CT were designed to restore privacy to blockchain transactions, as the LitePaper mentions, Bitcoin transactions aren’t private, they can be traced using publicly-available tools. The goal for CT is to restore privacy to blockchain transactions.

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Native CT on Kepler MW

Privacy has been a major topic in blockchain technology in the past decade, there’s been several technological approaches towards providing true privacy, without sacrificing scalability and functionality. Over time, there was a loss of interest towards privacy technology on blockchain, that is, until MimbleWimble technology came along. Thanks to MimbleWimble, there is a way to improve privacy without sacrificing functionality, and in the meantime, MW allows for better scalability.
Remember, there are no addresses used in Kepler!

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Confidential Assets (CA)

Perhaps one of the most exciting topics in recent blockchain development, it will allow users to create multiple asset types without exposing both the asset type and transaction amount publicly.

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Moving towards the future of Privacy

The best way to launch Confidential Assets is on a blockchain built for privacy. Having semi-anonymous backbone infrastructure that cannot scale is not a good starting point for development.

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CA already in Testnet

Our development team has been working for months and plans to launch a working test network soon. We will be release development updates regularly, and we encourage feedback.

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WhitePaper coming up soon after the LitePaper

We chose a Proof-of-Work (PoW) consensus mechanism for a variety of reasons. This article could get lengthy if we go into too much detail, but we’ll discuss this a bit.
An ASIC PoW algorithm is fair for miners, even ones who invested in multiple graphics cards. There will always be a coin for them to mine with their hardware. Hashrate rental services even the playing field for everyone. Most individuals cannot mine as cheap as they rent because of electricity costs. Not to mention the upfront cost of the hardware, shipping, customs and other fees like cooling and electrical work. Renters like using these services because they don’t need to trust their mining pool nor do they have to take custody of their coins or pay exchange fees.

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Economic Model

Cryptocurrencies are far more divisible than fiat currency. Think of it as a dollar with a million pennies. Finding an economic model that works is something polite society will never stop debating. The trick is to make currency scarce enough so that it has value, but rare enough that so that everyone has access to it.

Social

Medium
Telegram
Discord
Twitter
submitted by keplernetwork to KeplerNetwork [link] [comments]

Would it be worth getting into mining?

Hi, first time poster here.
I've been investigating BTC and other crypto mining recently, I've come to ask a few questions.
My current computer rig has a GTX 970 GPU, which from what I understand is laughably ineffective when it comes to mining BTC; however, I have access to free electricity, would it be worth mining with this rig?
Furthermore, are there any other profitable mines I could use this rig at?
And finally, my access to electricity is very good. I live on a renewable energy farm and receive subsides to produce electricity. How can I use this to my advantage when it comes to mining and where would I even begin to start?
submitted by Jetsom to Bitcoin [link] [comments]

Decred is insanely undervalued - A Confluence of Blockchain mechanics and Raw Scarcity

Decred is insanely undervalued - A Confluence of Blockchain mechanics and Raw Scarcity
Decred has caught a burst of long overdue wind today.
Below is my thesis on recent price action drivers and why I think Decred is insanely undervalued right now from an on-chain/blockchain mechanics perspective.
This is an expansion on a tweet I put out here https://twitter.com/_Checkmatey_/status/1190349477120552961
Fundamentally, the project is one of the most undervalued assets in the market and I believe the largest information asymmetry next to Bitcoin. The smart money know this. They have been accumulating. Looking at the volume of DCR moving on-chain, we can see a significant amount of DCR moving in 2019 at the current support range. We know that DCR is always on the move due to tickets so when we see high volume nodes like this, it supports the notion of actual accumulation in addition to the usual transaction flow. We have seen similar growth in the median and mean transaction sizes throughout 2019. Larger wallets, larger DCR purchases.
Update: Note how the 2019 volume node, if just looking at USD chart could be attributed to Dec-Apr period or the recent drawdown. However looking against the BTC chart confirms that the dominant accumulation has occurred during the recent period as the BTC price probes the lows. This is what I consider a high volume zone of support characterised by a large transfer of coins (miners selling, accumulating buyers).
On-chain DCR volume profile plotted against price for BTC (black) and USD (blue)
The recent price action drawdown in my opinion is a result of Miners going too hard to fast. ASICs were introduced in early 2018 and we see an explosion in PoW Difficulty. Mining is a leveraged play for DCR and in this case is unlike what occurred for BTC in that it was almost four years until ASICs were on the scene for Bitcoin. This means that Bitcoins naturally high early inflation had time to disperse before ASICs and serious hardware investment came online. ASICs are capital intensive, not hobbyist grade meaning coins mined must necessarily become coins sold.
We can compare the insane growth in Decred mining since Jan 2018 against the market to see this on a relative scale. Mind you, this is a bullish signal. Miners are committing heavy capital to the Decred chain security. They have done their due diligence and have high conviction. That is not something to ignore.
Full tweet on this here https://twitter.com/_Checkmatey_/status/1177650799050133504
Normalised difficulty growth (left) since Jan 2018 and (right) 2019 Year to Date
As miners over-extend without support of price appreciation, they must sell more coins to pay bills. Eventually the weak miners have to capitulate and difficulty ribbon squeezes as mining equipment is switched off. We have seen this play out for Bitcoin where squeezing of the difficulty ribbon indicates a valuable period for accumulation. Willy Woo talks about this here https://woobull.com/introducing-the-difficulty-ribbon-the-best-times-to-buy-bitcoin/.
What happens next is that the strong miners gain an increasing share of the hashrate. Their energy is thus rewarded with more DCR and so they can sell less of their income and Hodl more. This effectively begins to constrain supply rather than the oversaturation during capitulation. Over time this leads to a reversal in price action which further perpetuates the effect.
Price of a scarce asset must appreciate with reduced circulating supply assuming demand relatively remains stable or increases.
Decred total cumulative block subsidy paid (price x block reward DCR) and Difficulty ribbon
This is actually very healthy for Decred. Coins are being distributed by miners en-mass right now, nullifying the risk of miners holding too high of a supply within the staking system leading to centralisation. I would argue that this distribution of coins is one of the most important and bullish signals long term. We know that miners stake as well and thus they are able to generate income on Hodled coins. I expect this to actually soften the degree of miner capitulation as they can turn off power whilst still generating income.
For this reason, I do not suspect we will see photos of mountains of Decred ASICs being thrown out as we saw for Bitcoin in 2018. The machines are simply put on hold until price reverses to justify power consumption. This is a valuable business feasibility case for miners and a feature of long term sustainability in the chain security.
Decred Resilience
This is where the elegance of Decred resilience steps in.
As miners slow, supply saturates, price drops.
DCR Tickets become cheaper.
Stakeholders step in and accumulation begins.
The Ticket Price hit an ATH of 140+ DCR as Stakeholders begin accumulating and commit capital to secure the chain. The Hybrid PoW/PoS system works as a counter balance. When price is in a strong uptrend, stakeholders are provided an exit to capitalise on gains as miners have a strong case for expanding their operations (PoW dominant security). During price drawdowns, miners drop out and the cheap DCR stimulates Hodlers buying and locking capital which locks down available supply from attackers. An attack would thus drive price higher and the cycle repeats.
As above, showing the total DCR locked in tickets hits an ATH as price drops due to miner capitulation
PermabullNino made the observation that Decred functions as an elegant yet robust accounting system. His discussion on block subsidies are shown in the charts above and linked here https://medium.com/@permabullnino/decred-on-chain-a-look-at-block-subsidies-6f5180932c9b.Decred has a has past, present and future cash flows distributed to those who support it most. This puts Decred security in good hands- Miners 60%- Stakeholders 30%- Builders 10%
Price is currently hovering around the PoW total subsidy paid (red line) and means miners are indeed feeling the squeeze as this is the cost basis of all DCR paid to date. Once you factor in overheads and capital costs, it makes sense we are seeing DCR supply distribution. The last time we saw price dip to this line was early in Decreds history and was followed by a rapid repricing.
We now have three mechanisms at play which will act to constrain supply
  • Miners are distributing heavily but eventually will switch to hodling as the strong miners hash share grows.
  • Stakeholder are absorbing supply en mass and locking in tickets due to relatively cheap prices
  • Inflation rate is in a state of constant reduction
Scarcity
My recent work looking at the Decred stock-to-flow model (which does exist and is convincing, contrary to what the Bitcoin maxi community may want to believe), suggests that DCR is in the oversold range. It has deviated by 1.5 standard deviations from the S2F model mean which is near identical to Bitcoin at 50% supply mined. Historically for Bitcoin and Decred, this has been an opportune period for accumulation. More on this discussion in my tweet here https://twitter.com/_Checkmatey_/status/1184159137564889089
Note that Decred, likely due to the smooth issuance and difference in market awareness, is less volatile than Bitcoin. The significant undervaluation of Bitcoin at 50% mined was due to the first 2012 halving where it was a very different and far smaller market. I would expect DCR to be repriced sooner rather than later as the smart money steps in having now developed Bitcoin hindsight.
Standard deviations of DCR and BTC price from the respective stock-to-flow linear regression models
As a final note, if we look at Decred and Bitcoin market valuations plotted against ratio of 21M coins issued, which normalises for coin age, we see a fascinating similarity in these coins trajectory. Bitcoin was worth $127M at 50% coins mined and Decred was worth $180M. Considering we are in a log scale market, this is practically the same. Decred has achieved this value both benefiting from market awareness and size, but also in the face of heavy (albeit generally ill-equipped) alt-coin competition, quite remarkable.
Decred and Bitcoin Market and Realised Caps and S2F models plotted against ratio of 21M coins mined
Given that Decred has such insanely strong fundamentals, has developed a convincing monetary premium in it's short life and traverses the same stock-to-flow path as Bitcoin, I believe there is immense value flying under the markets radar.
The recent price action drawdown can reasonably be attributed to miners over-extending. However based on both prior Decred behaviour and drawing comparisons to Bitcoin history, there is a strong argument to be made that supply will soon be constrained on multiple fronts and the current value is both highly undervalued and being absorbed by the smart money.
Feedback, counter-points and discussions welcome.
Cheers,
CM.
submitted by __checkmatey__ to decred [link] [comments]

Mining Bitcoin?

When Bitcoin was on it’s rise, I bought a small amount and made a little money when it peaked, but then stupidly held and now I’m down overall. I honestly forgot about my account until today. I just started a new job that will pay me nicely, so once I have a good amount of money saved and stuff I think I’m going to get back into investing.
For now, however, I was thinking about how hard it’d be to mine Bitcoin. What exactly goes into mining Bitcoin and how effective is it? Is it worth the time and effort?
submitted by qcroberts01 to Bitcoin [link] [comments]

Bitmain gave up on their shitcoin: they now also accept FIAT

Bitmain gave up on their shitcoin: they now also accept FIAT submitted by amorpisseur to Bitcoin [link] [comments]

Nano #Ama on Binance Spanish telegram group!!

Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers.
-(Admin) ¡Welcome Binancians to our following AMA!
I will explain how AMA works; we will have three (3) segments.
Segment #1: I am going to ask to our guests five (5) questions and then they will answer them.
I will be explaining the rest of the segments as we conclude one of them.
-(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you?
- (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now!
-(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well!
-(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you.
Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project?
-(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals.
-(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team.
Here you can find all the weekly updates: https://nano.org/en
Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later?
-(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol.
-(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it!
My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask.
Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method?
-(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives.
-(Admin) This is incredible! thanks for your answer!
Can you tell us about what the Open Representative Vote is about and how it protects the network?
-(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy.
-(Admin) Very good! The last question on my part:
Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about?
-(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new