A Malware That can Turn Your PC Into A Bitcoin Miner ...
Can I do mining with a normal PC? - Bitcoin Stack Exchange
Mining on an old computer : Bitcoin - reddit
The Easiest Way to make your PC mine Bitcoins techtangerine
[Discord Conv.] Salute to Crazy ones
Disclaimer: This is my editing. So there could be some misunderstandings. Even ifu/longfldposted similar screenshots already(thanks to him/her), I'd like to share this summary again, 'cause it has some more contents. Sometimes, we need more enjoyable stuff to read on this rough, dynamic ride to a new world. 2/18 *** Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They're not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can't do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the one who are crazy enough to think they can change the world are the ones who do. *** from 'think different' ad campaign TCP/IP TCP/IP, or the Transmission Control Protocol/Internet Protocol, is a suite of communication protocols used to interconnect network devices on the internet. TCP/IP specifies how data is exchanged over the internet by providing end-to-end communications that identify how it should be broken into packets, addressed, transmitted, routed and received at the destination. DAPP DApp is an abbreviated form for decentralized application. A DApp has its backend code running on a decentralized peer-to-peer network. Contrast this with an app where the backend code is running on centralized servers. Ontology a set of concepts and categories in a subject area or domain that shows their properties and the relations between them. Hans Moog [IF]어제 오후9:00 [about the release of GoShimmer v0.2.0?] Originally we wanted to release the new version end of next week but due to the hack this might be a bit delayed but yeah we have a pretty concrete plan the next version will be pretty interesting as it will introduce the changes that will turn IOTA into a general purpose DLT platform that can run pretty much anythingthat is even remotely related to DLT on it I will write a bit more about that when there is time (maybe even do a video) Hans Moog [IF]어제 오후9:02 value transfers will essentially be the first DAPP that runs on the tangle so we need that before we can integrate the ledger Hans Moog [IF]어제 오후9:04 [are you talking about the atomic transaction layout?] not just that also a different layered architecture which we call "the ontologies concept" but its one of the building blocks yeah tangle will essentially be like the decentralized version of TCP/IP a general purpose protocol once value transfers are implemented I have already a few interesting ideas for additional DAPPS Coordicide is pretty "complex" as it requires a lot of different protocols - being able to completely separate the building blocks makes it much easier to get them "secure" Hans Moog [IF]어제 오후9:08 the decentralized randomness required for FPC will for example be an app running on the tangle DRAND App Hans Moog [IF]어제 오후9:14 [about the new ontologies concept] It's not really layed out in a public forum post yet butwe discussed and finalized the specs on the last research summit last week Hans Moog [IF]어제 오후9:19 [isn't this new ontology almost like part of multiverse consensus?] yes a lot of the idea that were part of the original multiverse concepts are useful also for the current coordicide we will for example be able to separate the fate of data transactions and value transactions,which means that you can send data txs without having to be worried that they are rejected, because they attach to a double spend, which is a requirement for a general purpose protocol anyway Hans Moog [IF]어제 오후9:20 [that sounds awesome!! To have a "base" tangle, and on this base tangle different "subtangles" for different applications - value transfers, DRAND, messaging, ...] Archiving, DRAND, chat, MAM, DID, ... you could even have phone calls on the tangle Hans Moog [IF]어제 오후9:21 but i guess for these kind of things it makes more sense to have a 1:1 connection its extremely simple the point is that it makes the code much simpler Hans Moog [IF]어제 오후9:22 you can even have different consensus mechanisms next to each other for different apps some apps like decentralized chats for example don't even need consensus or if you want to build a decentralized version of facebook Hans Moog [IF]어제 오후9:22 you don't need consensus here andit not going to be "separate tangles" that have nothing to do with each other everything runs in the same main tangle Hans Moog [IF]어제 오후9:30 it's not very complex - that's the beautiful thing in fact it makes stuff much easier Hans Moog [IF]어제 오후9:31 Maybe I can do a video about it in the coming days writing a network application if you can use TCP/IP is much easier than if you would have to implement the networking from scatchand communicate with the wires in your pc Hans Moog [IF]어제 오후9:39 **[**Is the "base decentralized TCP/IP layer" already spec out and ready to be implemented?As this will become the "heart" of the tangle.] yep its coded already we started merging the code Hans Moog [IF]어제 오후9:44 [Doesn't "DRNG via committee" still make the network somewhat centralized?] Not really. 1. The committee members do not "control" consensus. 2. If committee members get taken offline by for example government intervention, then the next highest mana holder just joins the committee. So you still maintain all the benefits of a decentralized network. resilience against outside actors, no single actor controls the system Hans Moog [IF]어제 오후9:46 [How does commitee get chosen, by who, which parameters?] as the first version of goshimmer we will most probably have a fixed committee of some IF nodes + selected community members, but in the final protocol, the highest mana nodes will just issue a randomness beacon according to the protocol so the committee is dynamic Hans Moog [IF]어제 오후9:47 [Does commitee agree on the same number and then broadcast it or...?] If I am informed correctly, then its based on threshold signatures But I didn't work on that part, so I am not 100% sure how exactly it works its a bit hard to keep track of everything and also code at the same time Hans Moog [IF]어제 오후9:47 we have a few teams in the research department where every team specs one of the building blocks for engineering Hans Moog [IF]어제 오후9:49 [You know perhaps if this drand stuff has been coded already as well?] yeah,but don't ask me in which branch Hans Moog [IF]어제 오후9:49 and it will be adjusted to the new ontologies concepts Hans Moog [IF]어제 오후9:50 [isn't this approach with DAPPs similar to ICT and IXIs?] in a way, yes butits a bit more powerfulnow, as the DAPPS are completely isolated and "rejecting" transactions in one app does not cause all of the transactions that approve it to be rejected in IXI and ICT a chat message would disappear if it approved a double spend Hans Moog [IF]어제 오후9:56 [if Jaguar would implement a new DAPP with a "new coin" on the tangle with a custom DAPP consensus mechanism?] yeah you could create new coins on top of the tangle with their custom consensus mechanism butevery one of these new coins would need to be able to also understand IOTA transfers and the nodes would ultimately have to have mana to be able to take part in the network so if somebody would for example implement bitcoin on top of the tangle, then the bitcoin miners would need to buy IOTA to be able to send messages in the network We will most probably see a lot of companies also build proprietary stuff on the tangle you can even have "private" apps on the tangle that are encrypted so you can have stuff that would require a "private inhouse blockchain" to use the global infrastructure of the tangle its extremely powerful Hans Moog [IF]어제 오후9:59 [making a "new coin" that is private like monero on the basis of the tangle - using a private DAPP? Crazy powerful!] yeah you can have a "privacy coin" on top of the tangle that is maybe not as fast and scalable as IOTA itself and might even have fees Hans Moog [IF]어제 오후9:59 but if people are willing to pay for this extra service then you can have private transactions without having to "leave" the ecosystem and without having to give up scalability for the IOTA base layer Hans Moog [IF]어제 오후10:05 [Crazy powerful! and everything would need IOTAs... Qubic and Oracles would also be a base DAPP on this tangle ...] exactly Hans Moog [IF]어제 오후10:08 [So if i understand correct,other coins on the Tangle would not have a negative impact on the value of the IOTA. Even the other way around.****] IOTA would always be the native coin which would be the fastest and most secure one, yeah if there would ever be a coin that would be faster and more secure, then it would make sense to implement that in IOTA core Hans Moog [IF]어제 오후10:10 [so no transaction will be rejected anymore from the base tangle layer? In the worst case - if in every DAPP consense mechanism this transaction would be rejected, because of double spend or not useful for this DAPP - it is just seen as data transaction?!] yeah more or less you might still have to reattach a value transfer rare edge cases (if your node is out of sync or sth) but you will never have to reattach a "non-value-transfer" or well ... if you attach sth to a part of the tangle that is really old and everybody has snapshotted that already then you would still have to reattach but a tx does not "depend" on other apps anymore so if 1 app says its bad and we want to orphan it, then this happens on another layer Hans Moog [IF]어제 오후10:16 [So weaker nodes may work without ledger, like just a hub?] nah you always need to support iota value transfers for the rate control Hans Moog [IF]어제 오후10:16 [because of the mana?!] but a node that is not interested in the decentralized facebook and only wants to process MAM messages can do so yeah mana is the thing that ties everything together and to know the mana you need to know IOTA value transfers I mean ... you could rely on a centralized service that provides you the mana balances, so even very hardware-constraint nodes could theoretically take part in the network but then you might process a few txs that others drop if this centralized service would give you the wrong balances but the whole point of IOTA is to be shardable and lightweight so you wont need much for the value transfer layer anyway Hans Moog [IF]어제 오후10:21 [Have you ever thought about how much storage (permanode) you need if IOTA becomes the new TCP/IP ?] but if you want to only "issue" transactions and receive your mana by people assigning it to you (i.e. a company remotely loading up their sensors with mana), then you can essentially do that. one of the first applications I will implement is an "archiving APP" that records the activity in the tangle and allows you to "prove" that a certain tx was part of the tangle at some point in the past. recording 100 years of activity in the tangle (independently of the TPS) will require less than 1 GB much less actually the magic of merkle trees Hans Moog [IF]어제 오후10:23 [of all transactions of every DAPP?] yes everything that ever happened in the tangle Hans Moog [IF]어제 오후10:25 [Is the sharding the ontology concept ] nah its not related or well everything is somehow related but these APPS are not the "shards" Hans Moog [IF]어제 오후10:33 its an essential part of coordicide - this is the next step before integrating the value transfers so next major version of goshimmer 2-3 weeks max Hans Moog [IF]어제 오후10:36 [Nice, so value transfers will probably be implemented till the end of march] that's the plan, yeah might be like 1-2 weeks late now due to the hack but we will see we try our best to catch up after this is sorted out Hans Moog [IF]오늘 오전2:24 [so next goshimmer version will be binary too!!!] yes, I think the next (major) goshimmer version will bring a few of the most fundamental changes in how we perceive the protocol as a whole not just binary <-> tinary but also regarding its "expressiveness" and it's really funny because it is essentially just a slight shift of perception regarding the already established principles, that interestingly directly converts into better architecture and simpler code
I think monero's gonna goto the moon. Here's the reason why. First, the general market seems to be in an upswing... this will naturally increase the price of monero (along with other alts). This rise in price will once again cause an increase in interest from outside of the crypto space. For a lot of people new to the space, the idea of mining is attractive and fascinating. You can print money with your computer. What? Full stop. I remember reading a while ago that this component of nakamoto consensus has an allure because it is akin to alchemy, and apparently human culture has always had a fascination with alchemy. So, these newcomers will think (as many do) "I should get into mining". They may do some research and discover that bitcoin mining is dead. Eventually they'll come across the fact that Monero is still CPU mineable. And at these bubble run prices, it could probably even turn a profit! So they'll set their PC to mine. Or maybe buy another PC. And they'll mine. And they'll read more about monero. They'll become fascinated with why (and how) monero is a privacy coin. They'll become fascinated with why (and how) monero has chosen to have a CPU-bound PoW. They'll probably also come across the tail emission, and why Monero has one, which will then get them reading about base layer scaling. And they'll mine some more. And they'll read some more about monero. They'll come across this notion of fungibility. They'll perhaps start to understand how blockchains work, and how consensus protocols work, and how base-layer protocol is the most important protocol for a cryptocurrency. Probably after mining for a month, watching the price of monero increase and their pooled mining payout threshold *never* coming close to hitting, and all the while reading this or that about monero, they'll say "well, the only way I'm gonna get a good lot of this Monero is to buy some". And hopefully they'll be able to navigate the morass of AML/KYC(M - o - U - s - E) and get their hands on some. And thats demand. On the buy side. And where's the pressure from the sell side? Monero's emission just went under 2 xmr a block. And this new emission isn't going to mining farms with bottom lines to cover, so they always need to sell to keep the lights on. No, its going to people like this, 500 khs bunch of workers with 1.7 to 7 kh/s per worker. Probably a sysadmin somewhere that has idle CPUs that they've decided to mine with. or this glorious bastard, with 2.2 Mh/s. Their overall activity has a wave pattern, and the worker distribution seems like contemporary intel / amd PCs. And then you get the ones like this, 11 Mh/s peak with a glorious wave pattern. This one is so cyclical you can't see the online workers because they seem to turn off every day at the same time. Or they have an agreement with nanopool to hide their worker details. But the waves are still visible. And its also going to solo miners, like this guy. Roughly 13% of the found blocks aren't accounted for via the major pool aggregation website. I don't wanna make up numbers here, but what if that 13% is all just lucky solo miners? There's ~1440 monero printed every day at this point. How much of that is going straight to market? Based on the fundamental differences in the monero mining ecosystem, I'd bet that more of the newly minted coin is going straight into cold, deep storage. Of course, the markets are all just manipulated nonsense, so it really just depends on when some whale decides to market buy a bajillion xmr for the lulz.
Bitcoin 11 Years - Achievements, Lies, and Bullshit Claims So Far - Tooootally NOT a SCAM !!!!
That's right folks, it's that time again for the annual review of how Bitcoin is going: all of those claims, predictions, promises .... how many have turned out to be true, and how many are completely bogus ??? Please post / link this on Bitcoin (I am banned there for speaking the truth, so I cannot do it) ... because it'a way past time those poor clueless mushrooms were exposed to the truth. Anyway, without further ado, I give you the Bitcoin's Achievements, Lies, and Bullshit Claims So Far ... . Bitcoin Achievements so far:
It has spawned a cesspool of scams (2000+ shit coin scams, plus 100's of other scams, frauds, cons).
Many 1,000's of hacks, thefts, losses.
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who "accept Bitcoin" immediately convert it into FIAT after the sale, or require you to sell your coins to BitPay or Coinbase for real money, and will then take that money. Some of the few who actually accept bitcoin haven't seen a customer who needed to pay with bitcoin for the last six months, and their cashiers no longer know how to handle that.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
It’s the first "currency" that is not self-sustainable. It operates at a net loss, and requires continuous outside capital to replace the capital removed by miners to pay their costs. It’s literally a "black hole currency."
It created a new way for people living too far from Vegas to gamble all their life savings away.
Spawned "blockchain technology", a powerful technique that lets incompetent programmers who know almost nothing about databases, finance, programming, or blockchain scam millions out of gullible VC investors, banks, and governments.
Increased China's foreign trade balance by a couple billion dollars per year.
Helped the FBI and other law enforcement agents easily track down hundreds of drug traffickers and drug users.
Wasted thousands if not millions of man-hours of government employees and legislators, in mostly fruitless attempts to understand, legitimize, and regulate the "phenomenon", and to investigate and prosecute its scams.
Rekindled the hopes of anarcho-capitalists and libertarians for a global economic collapse, that would finally bring forth their Mad Max "utopia".
Added another character to Unicode (no, no, not the "poo" 💩 character ... that was my first guess as well 🤣)
Provides an easy way for malware and ransomware criminals to ply their trade and extort hospitals, schools, local councils, businesses, utilities, as well as the general population.
~~Bitcoin is "striking fear into the hearts of bankers, precisely because Bitcoin eliminates the need for banks. ~~, Mark Yusko, billionaire investor and Founder of Morgan Creek Capital, https://www.bitcoinprice.com/predictions/
"A bitcoin miner in every device and in every hand."
"All the indicators are pointing to a huge year and bigger than anything we have seen before."
"Bitcoin is communism and democracy working hand in hand."
"Bitcoin is freedom, and we will soon be free."
"Bitcoin isn't calculated risk, you're right. It's downright and painfully obvious that it will consume global finance."
"Bitcoin most disruptive technology of last 500 years"
"Bitcoin: So easy, your grandma can use it!"
"Creating a 4th Branch of Government - Bitcoin"
"Future generations will cry laughing reading all the negativity and insanity vomited by these permabears."
"Future us will thank us."
"Give Bitcoin two years"
"HODLING is more like being a dutiful guardian of the most powerful economic force this planet has ever seen and getting to have a say about how that force is unleashed."
"Cut out the middleman"
"full control of your own assets"
"reduction in wealth gap"
"cannot print money out of thin air"
"Why that matters? Because blockchain not only cheaper for them, it'll be cheaper for you and everyone as well."
"If you are in this to get rich in Fiat then no. But if you are in this to protect your wealth once the current monetary system collapse then you are protected and you'll be the new rich."
"Theres the 1% and then theres the 99%. You want to be with the rest thats fine. Being different and brave is far more rewarding. No matter your background or education."
"NO COINERS will believe anything they are fed by fake news and paid media."
"I know that feeling (like people looking at you as in seeing a celebrity and then asking things they don't believe until their impressed)."
"I literally walk round everyday looking at other people wondering why they even bother to live if they don't have Bitcoin in their lives."
"I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization."
"I think Bitcoin will do for mankind what the sun did for life on earth."
"I think the constant scams and illegal activities only show the viability of bitcoin."
"I think we're sitting on the verge of exponential interest in the currency."
"I'm not using hyperbole when I say Satoshi found the elusive key to World Peace."
"If Jesus ever comes back you know he's gonna be using Bitcoin"
"If this idea was implemented with The Blockchain™, it would be completely flawless! Flawless I tell you!"
"If you're the minimum wage guy type, now is a great time to skip food and go full ramadan in order to buy bitcoin instead."
"In a world slipping more and more into chaos and uncertainty, Bitcoin seems to me like the last solid rock defeating all the attacks."
"In this moment, I am euphoric. Not because of any filthy statist's blessing, but because I am enlightened by own intelligence."
"Is Bitcoin at this point, with all the potential that opens up, the most undervalued asset ever?"
"It won't be long until bitcoin is an everyday household term."
"It's the USD that is volatile. Bitcoin is the real neutral currency."
"Just like the early Internet!"
"Just like the Trojan Horse of old, Bitcoin will reveal its full power and nature"
"Ladies if your man doesnt have some bitcoin then he cant handle anything and has no danger sex appeal. He isnt edgy"
"let me be the first to say if you dont have bitcoin you are a pussy and cant really purchase anything worldwide. You have no global reach"
"My conclusion is that I see this a a very good thing for bitcoin and for users"
"No one would do such a thing; it'd be against their self interests."
"Ooh lala, good job on bashing Bitcoin. How to disrespect a great innovation."
"Realistically I think Bitcoin will replace the dollar in the next 10-15 years."
"Seperation of money and state -> states become obsolete -> world peace."
"Some striking similarities between Bitcoin and God"
"THANK YOU. Better for this child to be strangled in its crib as a true weapon for crypto-anarchists than for it to be wielded by toxic individuals who distort the technology and surrender it to government and corporate powers."
"The Blockchain is more encompassing than the internet and is the next phase in human evolution. To avoid its significance is complete ignorance."
"The bull run should begin any day now."
"The free market doesn't permit fraud and theft."
"The free market will clear away the bad actors."
"The only regulation we need is the blockchain."
"We are not your slaves! We are free bodies who will swallow you and puke you out in disgust. Welcome to liberty land or as that genius called it: Bitcoin."
"We do not need the bankers for Satoshi is our saviour!"
"We have never seen something so perfect"
"We must bring freedom and crypto to the masses, to the common man who does not know how to fight for himself."
"We verified that against the blockchain."
"we will see a Rennaisnce over the next few decades, all thanks to Bitcoin."
"Well, since 2006, there has been a infinite% increase in price, so..."
"What doesn't kill cryptocurrency makes it stronger."
"When Bitcoin awake in normally people (real people) ... you will have this result : No War. No Tax. No QE. No Bank."
"When I see news that the price of bitcoin has tanked (and thus the market, more or less) I actually, for-real, have the gut reaction "oh that’s cool, I’ll be buying cheap this week". I never knew I could be so rational."
"Where is your sense of adventure? Bitcoin is the future. Set aside your fears and leave easier at the doorstep."
"Yes Bitcoin will cause the greatest redistribution of wealth this planet has ever seen. FACT from the future."
"You are the true Bitcoin pioneers and with your help we have imprinted Bitcoin in the Canadian conscience."
"You ever try LSD? Perhaps it would help you break free from the box of state-formed thinking you have limited yourself..."
"Your phone or refrigerator might be on the blockchain one day."
The banks can print money whenever they way, out of thin air, so why can't crypto do the same ???
Central Banks can print money whenever they way, out of thin air, without any consequences or accounting, so why can't crypto do the same ???
It's impossible to hide illegal, unsavory material on the blockchain
It's impossible to hide child pornography on the blockchain
All Bitccoins are the same, 100% identical, one Bitcoin cannot be distinguished from any other Bitcoin.
The price of Bitcoin can only go up because of scarcity / 21 million coin limit. (Bitcoin is open source, anyone can create thir own copy, and there are more than 2,000+ Bitcoin copies / clones out there already).
immune to government regulation
"a world-changing technology"
"a long-term store of value, like gold or silver"
"To Complex to Be Audited."
"Old Auditing rules do not apply to Blockchain."
"Old Auditing rules do not apply to Cryptocurrency."
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
2013-11-27: ""What is a Citadel?" you might wonder. Well, by the time Bitcoin became worth 1,000 dollar [27-Nov-2013], services began to emerge for the "Bitcoin rich" to protect themselves as well as their wealth. It started with expensive safes, then began to include bodyguards, and today, "earlies" (our term for early adapters), as well as those rich whose wealth survived the "transition" live in isolated gated cities called Citadels, where most work is automated. Most such Citadels are born out of the fortification used to protect places where Bitcoin mining machines are located. The company known as ASICminer to you is known to me as a city where Mr. Friedman rules as a king.", u/Luka_Magnotta, aka time traveler from the future, 31-Aug-2013, https://www.reddit.com/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/
2018-12: Listen up you giggling cunts... who wants some?...you? you want some?...huh? Do ya? Here's the deal you fuckin Nerds - Butts are gonna be at30 grandor more by next Christmas  - If they aren't I will publicly administer an electronic dick sucking to every shill on this site and disappear forever - Until then, no more bans or shadow bans - Do we have a deal? If Butts are over 50 grand me and Lammy get to be mods. Deal? Your ole pal - "Skully"u/10GDeathBoner, 3-Feb-2018 https://www.reddit.com/Buttcoin/comments/7ut1ut/listen_up_you_giggling_cunts_who_wants_someyou/
2018-12: "Bitcoin could be at$40,000by the end of 2018, it really easily could", Mike Novogratz, a former Goldman Sachs Group Inc. partner, ex-hedge fund manager of the Fortress Investment Group and a longstanding advocate of cryptocurrency, 21-Sep-2018, https://www.youtube.com/watch?v=6lC1anDg2KU
2018-12: Bitcoin will end 2018 at the price point of$50,000, Ran Neuner, host of CNBC’s show Cryptotrader and the 28th most influential Blockchain insider according to Richtopia,https://www.bitcoinprice.com/predictions/
Lastupdated2018-01-29 This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information. There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!
Lightning Network White Paper - The protocol has changed since this original paper, but covers the mid-level mechanics of the Lightning Network with an emphasis on the smart contracts that make it trustless
If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily, Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above. All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-) For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user. Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
I literally have tens of thousands of dollars in top-shelf hardware, looking to repurpose some before selling on eBay to build a NAS system, possibly a dedicated firewall device as well. o_O
Q1) What will you be doing with this PC? Be as specific as possible, and include specific games or programs you will be using.** A1) This will be a dedicated NAS system for my home network. As such, I'm looking to have it: - Host ##TB's of 720, 1080 & up resolution Movies and TV Shows I'm about to begin ripping from a MASSIVE DVD & Blueray collection I have. - My kids are big on Minecraft. I understand it's possible to host your own "worlds" (or whatever they call the maps you can build) on your own "server". I think it would be pretty neat to offer them (& their friends - if can be done 'safely/securely') their own partition on one of my NAS HDD's. - I also have accounts with a couple diff VPN companies... I understand it's possible (?) to sync said VPN's with a NAS, this might be a more relative topic on the next point/purpose... - I'd like to be able to remotely link to this NAS for when I travel overseas and want to stream at my temp location from my house/this NAS. ______________________ Q2) What is your maximum budget before rebates/shipping/taxes?** * A2) Here's where I make matters more complicated than most others would... I've been an advocate for Bitcoin and crypto-currencies in general since 2013. I invested in a small mining outfit back in 2014 (strictly Bitcoin/ASIC's). One of my buddies is the President of a large-scale mining operation (foreign and domestic) and he convinced me to dabble in the GPU mining-space. I made my first hardware purchase in Q4, 2017 and launched a small-scale GPU-Farm in my house since then. I had the rigs mining up until Q3 of 2018 (not cost-efficient to keep on, especially living in SoFlo) and since then, the hardware's been collecting dust (& pissing off my family members since they lost access to 3X rooms in the house - I won't let anyone go near my gear). One of my New Years Resolutions for 2019 was to clear out the house of all my mining equipment so that's all about to go up on eBay. So "budget" is relative to whatever I "MUST" spend if I can't repurpose any of the parts I already have on hand for this build... (Anyone having something I "need" and is looking to barter for one of the items I'll list later on in here, LMK). ______________________ Q3) When do you plan on building/buying the PC? Note: beyond a week or two from today means any build you receive will be out of date when you want to buy.** A3) IMMEDIATELY! :) ______________________ Q4) What, exactly, do you need included in the budget? (ToweOS/monitokeyboard/mouse/etc\)** A4) Well I had a half-assed idea approximately 1 year ago that it might be wise to build a bunch of 'gaming rigs' to sell on eBay with my intended repurposed mining hardware so I went on a shopping spree for like 6 months. That said; I've got a plethora of various other components that aren't even unboxed yet. 90% of the items I've purchased for this additional project were items that were marked down via MIR (mail-in-rebates) & what-not...
AFAIK, there are only 3X items I absolutely do not have which I 'MUST' find. Those would be - 1) Motherboard which accepts "ECC RAM". 2) CPU for said MOBO. 3) Said "ECC RAM".\*
______________________ Q5) Which country (and state/province) will you be purchasing the parts in? If you're in US, do you have access to a Microcenter location?** A5) I'm located in Southwest Florida. No Microcenter's here. Best Buy is pretty much my only option although I am a member of Newegg, Amazon & Costco if that makes any difference? ______________________ Q6) If reusing any parts (including monitor(s)/keyboard/mouse/etc), what parts will you be reusing? Brands and models are appreciated.** A6) In an attempt to better clean up this Q&A, I'm going to list the items I have on-hand at the end of this questionnaire in-case passers-by feel like this might be a TLDR.* (Scroll to the bottom & you'll see what I mean). ______________________ Q7) Will you be overclocking? If yes, are you interested in overclocking right away, or down the line? CPU and/or GPU?** A7) I don't think that's necessary for my intended purpose although - I'm not against it if that helps & FWIW, I'm pretty skilled @ this task already (it's not rocket science). ______________________ Q8) Are there any specific features or items you want/need in the build? (ex: SSD, large amount of storage or a RAID setup, CUDA or OpenCL support, etc)** A8) As stated in A4; ECC RAM is non-negotiable... RAID seems like a logical application here as well. - This will predominantly be receiving commands from MacOS computers. I don't think that matters really but figured it couldn't hurt to let you guys know.\* - I'd also be quite fond of implementing "PFSENSE" (or something of that caliber) applied to this system so I could give my Netgear Nighthawks less stress in that arena, plus my limited understanding of PFSENSE is that it's ability to act as a firewall runs circles around anything that comes with consumer-grade Wi-Fi routers (like my Nighthawks). Just the same, I'm open to building a second rig just for the firewall.\* - Another desirable feature would be that it draws as little electricity from the wall as possible. (I'm EXTREMELY skilled in this arena. I have "Kill-A-Watts" to test/gauge on, as well as an intimate understanding of the differences between Silver, Gold, Platinum and Titanium rated PSU's. As well as having already measured each of the PSU's I have on-hand and taken note of the 'target TDP draw' ("Peak Power Efficiency Draw") each one offers when primed with X amount of GPU's when I used them for their original purpose.\* - Last, but not least, sound (as in noise created from the rig). I'd like to prop this device up on my entertainment center in the living room. I've (almost) all of the top-shelf consumer grade products one could dream of regarding fans and other thermal-related artifacts. - Almost forgot; this will be hosting to devices on the KODI platform (unless you guys have better alternative suggestions?) ______________________ Q9) Do you have any specific case preferences (Size like ITX/microATX/mid-towefull-tower, styles, colors, window or not, LED lighting, etc), or a particular color theme preference for the components?** A9) Definitely! Desired theme would be WHITE. If that doesn't work for whatever reason, black or gray would suffice. Regarding "Case Size". Nah, that's not too important although I don't foresee a mini-ITX build making sense if I'm going to be cramming double digit amounts of TB in the system, Internal HDD's sounds better than a bunch of externals plugged in all the USB ports. ______________________ Q10) Do you need a copy of Windows included in the budget? If you do need one included, do you have a preference?** A10) I don't know. If I do need a copy of Windows, I don't have one so that's something I'll have to consider I guess. I doubt that's a necessity though. ______________________ ______________________ ______________________ **Extra info or particulars:*\* AND NOW TO THE FUN-STUFF... Here's a list of everything (PARTS PARTS PARTS) I have on-hand and ready to deploy into the wild &/or negotiate a trade/barter with: CASES - Corsair Carbide Series Air 540 Arctic White (Model# Crypto-Currency-9011048-WW) - (Probably my top pick for this build). Cooler Master HAF XB EVO (This is probably my top 1st or 2nd pick for this build, the thing is a monster!). Cooler Master Elite 130 - Mini ITX - Black Cooler Master MasterBox 5 MID-Tower - Black & White Raidmax Sigma-TWS - ATX - White MasterBox Lite 5 - ATX - Black w/ diff. Colored accent attachments (included with purchase) NZXT S340 Elite Matte White Steel/Tempered Glass Edition EVGA DG-76 Alpine White - Mid Tower w/ window EVGA DG-73 Black - Mid Tower w/ window (I have like 3 of these) ______________________ CPU's - ***7TH GEN OR BELOW INTEL's ("Code Name Class mentioned next to each one)**\* Pentium G4400 (Skylake @54W TDP) - Intel ARK states is "ECC CAPABLE" Celeron G3930 (Kaby Lake @ 51W TDP) - Intel ARK states is "ECC CAPABLE" :) i5 6402P (Skylake @65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( i5 6600k (Skylake @ 91W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( i7 6700 (Skylake @ 65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( i7 7700k (Kaby Lake @ 95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( ***8TH GEN INTEL's **\* i3-8350K (Coffee Lake @91W TDP) - Intel ARK states is "ECC FRIENDLY" :) I5-8600K (Coffee Lake @95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :( ***AMD RYZEN's **\* Ryzen 3 2200G Ryzen 5 1600 Ryzen 7 1700X ______________________ MOTHERBOARDS - ***7TH GEN AND BELOW INTEL BASED MOBO'S - **\* MSI Z170A-SLI ASUS PRIME Z270-A ASUS PRIME Z270-P ASUS PRIME Z270-K EVGA Z270 Stinger GIGABYTE GA-Z270XP-SLI MSI B150M ARCTIC MSI B250M MICRO ATX (PRO OPT. BOOST EDITION) ***8TH GEN INTEL BASED MOBO'S - **\* EVGA Z370 FTW GIGABYTE Z370XP SLI (Rev. 1.0) MSI Z370 SLI PLUS ***AMD RYZEN BASED MOBO'S - **\* ASUS ROG STRIX B350-F GAMING MSI B350 TOMAHAWK MSI X370 GAMING PRO ASROCK AB350M PRO4 ______________________ RAM - Way too many to list, nothing but 4 & 8GB DDR4 sticks and unfortunately, none are ECC so it's not even worth mentioning/listing these unless someone reading this is willing to barter. At which time I'd be obliged to send an itemized list or see if I have what they're/you're specifically looking for.\* ______________________ THERMAL APPLICATIONS/FANS - JUST FANS - BeQuiet - Pure Wings 2 (80mm) Pure Wings 2 (120mm) Pure Wings 2 (140mm) Silent Wings 3 PWM (120mm) NOCTUA - PoopBrown - NF-A20 PWM (200mm) Specifically for the BIG "CoolerMaster HAF XB EVO" Case GREY - NF-P12 Redux - 1700RPM (120mm) PWM Corsair - Air Series AF120LED (120mm) CPU COOLING SYSTEMS - NOCTUA - NT-HH 1.4ml Thermal Compound NH-D15 6 Heatpipe system (this thing is the tits) EVGA (Extremely crappy coding in the software here, I'm like 99.99% these will be problematic if I were to try and use in any OS outside of Windows, because they barely ever work in the intended Windows as it is). CLC 240 (240mm Water-cooled system CRYORIG - Cryorig C7 Cu (Low-Profile Copper Edition*) A few other oversized CPU cooling systems I forget off the top of my head but a CPU cooler is a CPU cooler after comparing to the previous 3 models I mentioned. I almost exclusively am using these amazing "Innovation Cooling Graphite Thermal Pads" as an alternative to thermal paste for my CPU's. They're not cheap but they literally last forever. NZXT - Sentry Mesh Fan Controller ______________________ POWER SUPPLIES (PSU's) - BeQuiet 550W Straight Power 11 (GOLD) EVGA - 750P2 (750W, Platinum) 850P2 (850W, Platinum) 750T2 (750W, TITANIUM - yeah baby, yeah) ROSEWILL - Quark 750W Platinum Quark 650W Platinum SEASONIC - Focus 750W Platinum ______________________ STORAGE - HGST Ultrastar 3TB - 64mb Cache - 7200RPM Sata III (3.5) 4X Samsung 860 EVO 500GB SSD's 2X Team Group L5 LITE 3D 2.5" SSD's 480GB 2X WD 10TB Essential EXT (I'm cool with shucking) + 6X various other external HDD's (from 4-8TB) - (Seagate, WD & G-Drives) ______________________ Other accessories worth mentioning - PCI-E to 4X USB hub-adapter (I have a dozen or so of these - might not be sufficient enough &/or needed but again, 'worth mentioning' in case I somehow ever run out of SATA & USB ports and have extra external USB HDD's. Although, I'm sure there would be better suited components if I get to that point that probably won't cost all that much). ______________________ ______________________ ______________________ Needless to say, I have at least 1X of everything mentioned above. In most all cases, I have multiples of these items but obviously won't be needing 2X CPU's, Cases, etc... Naturally, I have GPU's. Specifically; At least 1X of every. Single. NVIDIA GTX 1070 TI (Yes, I have every variation of the 1070 ti made by MSI, EVGA and Zotac. The only brand I don't have is the Gigabyte line. My partners have terrible experience with those so I didn't even bother. I'm clearly not going to be needing a GPU for this build but again, I'm cool with discussing the idea of a barter if anyone reading this is in the market for one. I also have some GTX 1080 TI's but those are already spoken for, sorry. It's my understanding that select CPU's I have on this list are ECC Friendly and AFAIK, only 1 of my MOBO's claims to be ECC Friendly (The ASROCK AB350M PRO4), but for the life of me, I can't find any corresponding forums that confirm this and/or direct me to a listing where I can buy compatible RAM. Just the same, if I go w/ the ASROCK MOBO, that means I'd be using one of the Ryzens. Those are DEF. power hungry little buggers. Not a deal-breaker, just hoping to find something a little more conservative in terms of TDP. In closing, I don't really need someone to hold my hand with the build part as much as figuring out which motherboard, CPU and RAM to get. Then I'm DEFINITELY going to need some guidance on what OS is best for my desired purpose. If building 2X Rigs makes sense, I'm totally open to that as well... Rig 1 = EPIC NAS SYSTEM Rig 2 = EPIC PFSENSE (or the like) DEDICATED FIREWALL Oh, I almost forgot... The current routers I'm using are... 1X Netgear Nighthawk 6900P (Modem + Router) 1X Netgear Nighthawk X6S (AC 4000 I believe - Router dedicated towards my personal devices - no IoT &/or Guests allowed on this one) 1X TP-Link Archer C5 (Router). Total overkill after implementing the Nighthawks but this old beast somehow has the best range, plus it has 2X USB ports so for now, it's dedicated towards my IoT devices. ---- I also have a few other Wi-Fi routers (Apple Airport Extreme & some inferior Netgear's but I can only allocate so many WiFi Routers to so many WiFi channels w/out pissing off my neighbors) On that note, I have managed to convince my neighbors to let me in their house/WiFi configuration so we all have our hardware locked on specific, non-competing frequencies/channels so everyone's happy. :) Please spare me the insults as I insulted myself throughout this entire venture. Part of why I did this was because when I was a kid, I used to fantasize about building a 'DREAM PC' but could never afford such. To compensate for this deficiency, I would actually print out the latest and greatest hardware components on a word document, print the lists up & tape to wall (for motivation). I was C++ certified at the age of 14 and built my first PC when I was 7. At the age of 15 I abandoned all hope in the sector and moved on to other aspirations. This entire ordeal was largely based off me finally fulfilling a childhood fantasy. On that note = mission accomplished. Now if I'm actually able to fulfill my desires on this post, I'm definitely going to feel less shitty about blowing so much money on all this stuff over the last couple years. TIA for assisting in any way possible. Gotta love the internets! THE END. :) EDIT/UPDATE (5 hours after OP) - My inbox is being inundated with various people asking for prices and other reasonable questions about my hardware being up for sale. Not to be redundant but rather to expound on my previous remarks about 'being interested in a bartetrade' with any of you here... I did say I was going to sell my gear on eBay in the near future, I also said I wanted to trade/barter for anything relative to helping me accomplish my OP's mission(s). I'm not desperate for the $$$ but I'm also not one of those people that likes to rip other people off. That said; I value my time and money invested in this hardware and I'm only willing to unload it all once I've established I have ZERO need for any of it here in my home first. Hence my writing this lengthy thread in an attempt to repurpose at least a grand or two I've already spent. One of the most commonly asked questions I anticipate receiving from interested bodies is going to be "How hard were you on your hardware?" Contrary to what anyone else would have probably done in my scenario which is say they were light on it whether they were or weren't, I documented my handling of the hardware, and have no problem sharing such documentation with verified, interested buyers (WHEN THE TIME COMES) to offer you guys peace of mind. I have photo's and video's of the venture from A-Z. I am also obliged to provide (redacted) electricity bill statements where you can correlate my photo's (power draw on each rig), and also accurately deduct the excess power my house consumed with our other household appliances. Even taking into consideration how much (more) I spent in electricity from keeping my house at a constant, cool 70-72F year-round (via my Nest thermostat). Even without the rigs, I keep my AC @ 70 when I'm home and for the last 1.5-2 years, I just so happened to spend 85% of my time here at my house. When I would travel, I'd keep it at 72 for my wife & kids. Additionally; I had each GPU 'custom' oveunderclocke'd (MSI Afterburner for all GPU's but the EVGA's).* I doubt everyone reading this is aware so this is for those that don't.... EVGA had the brilliant idea of implementing what they call "ICX technology" in their latest NVIDIA GTX GPU's. The short(est) explanation of this "feature" goes as follows: EVGA GPU's w/ "ICX 9 & above" have EXTRA HEAT/THERMAL SENSORS. Unlike every other GTX 1070 ti on the market, the one's with this feature actually have each of 2/2 on-board fans connected to individual thermal sensors. Which means - if you were to use the MSI Afterburner program on one of these EVGA's and create a custom fan curve for it, you'd only be able to get 1/2 of the fans to function the way intended. The other fan simply would not engage as the MSI Afterburner software wasn't designed/coded to recognize/ communicate with an added sensor (let alone sensor'S). This, in-turn, would likely result in whoever's using it the unintended way having a GPU defect on them within the first few months I'd imagine... Perhaps if they had the TDP power settings dumbed down as much as I did (60-63%), they might get a year or two out of it since it wouldn't run as near as hot, but I doubt any longer than that since cutting off 50% of the cooling system on one of these can't be ignored too long, surely capacitors would start to blow and who knows what else... (Warning = RANT) Another interesting side-note about the EVGA's and their "Precision-X" OveUnderclocking software is that it's designed to only recognize 4X GPU's on a single system. For miners, that's just not cool. My favorite builds had 8X and for the motherboards that weren't capable of maintaining stable sessions on 8, I set up with 6X. Only my EVGA Rigs had 3 or 4X GPU's dedicated to a single motherboard. Furthermore, and as stated in an earlier paragraph, (& this is just my opinion) = EVGA SOFTWARE SUCKS! Precision X wasn't friendly with every motherboard/CPU I threw at it and their extension software for the CLC Close-Loop-Cooling/ CPU water-coolers simply didn't work on anything, even integrating into their own Precision-X software. The amount of time it took me to finally find compatible matches with that stuff was beyond maddening. (END RANT). Which leads me to my other comments on the matter. That's what I had every single 1070 ti set at for TDP = 60-63%. Dropping the power load that much allowed me to bring down (on average) each 1070 ti to a constant 110-115W (mind you, this is only possible w/ "Titanium" rated PSU's, Platinum comes pretty damn close to the Titanium though) while mining Ethereum and was still able to maintain a bottom of 30 MH/s and a ceiling of 32 MH/s. Increasing the TDP to 80, 90, 100% or more only increased my hashrates (yields) negligibly, like 35-36 MH/s TOPS, which also meant each one was not only pulling 160-180W+ (Vs. the aforementioned 115'ish range), it also meant my rigs were creating a significantly greater amount of heat! Fortunately for the GPU's and my own personal habits, I live in South Florida where it's hot as balls typically, last winter was nothing like this one. Increasing my yields by 10-15% didn't justify increasing the heat production in my house by >30%, nor the added electricity costs from subjecting my AC handlers to that much of an extra work-load. For anyone reading this that doesn't know/understand what I'm talking about - after spending no less than 2-3 hours with each. and. every. one. I didn't play with the settings on just one and universally apply the settings to the rest. I found the 'prime' settings and documented them with a label-maker and notepad. Here's the math in a more transparent manner: *** I NEVER LET MY GPU's BREACH 61C, EVER. Only my 8X GPU rigs saw 60-61 & it was the ones I had in the center of the build (naturally). I have REALLY high power fans (used on BTC ASIC MINERS) that were sucking air from those GPU's which was the only way I was able to obtain such stellar results while mining with them. **\* Mining at "acceptable" heat temps (not acceptable to me, but most of the internet would disagree = 70C) and overclocking accordingly brings in X amount of yields per unit. = 'Tweaking' (underclocking) the GPU's to my parameters reduced my yield per unit from -10-15%, but it SAVED me well over 30-35% in direct electricity consumption, and an unknown amount of passive electricity consumption via creating approximately 20%+ less heat for my AC handler to combat. I say all this extra stuff not just for anyone interested in mining with their GPU's, but really to answer (in-depth) the apparent questions you people are asking me in PM's. Something else that should help justify my claims of being so conservative should be the fact I only have/used "Platinum and Titanium" rated PSU's. Heat production, power efficiency and longevity of the hardware were ALWAYS my top priority.* . I truly thought Crypto would continue to gain and/or recover and bounce back faster than it did. If this project had maintained positive income for 12 months+, I'd have expanded one of our sites to also cater to GPU mining on a gnarly scale. Once I have my NAS (& possibly 2nd rig for the firewall) successfully built, I'll be willing/able to entertain selling you guys some/all of the remaining hardware prior to launching on eBay. If there's something you're specifically looking for that I listed having, feel free to PM me with that/those specific item(s). Don't count on an immediate response but what you can count on is me honoring my word in offering whoever asks first right of refusal when the time comes for me to sell this stuff. Fortunately for me, PM's are time-stamped so that's how I'll gauge everyone's place in line. I hope this extra edit answers most of the questions you guys wanted to have answered and if not, sorry I guess. I'll do my best to bring light to anything I've missed out on after I realize whatever that error was/is. The only way anyone is getting first dibs on my hardware otherwise is if they either offer compelling insight into my original questions, or have something I need to trade w/. THE END (Round#2)
List anything you've done in attempt to diagnose or fix the problem. My gaming PC hasn't been working properly for like a year or more. A year or 2 ago I changed all my pc parts for new ones, so all the stuff in my computer is not more than 2 years old. Whenever I am playing a game or running benchmarks my monitor will go to a no input screen after a few minutes of running. I first thought it might be a GPU problem, so i RMA'd it. I have had about 5 different 1080Ti's that were all back from RMA. I have already brought my PC to a repair shop here, they also didnt know where the problem would be. They have checked all the parts, but they couldn't check the MB and CPU. So I send my MB to the place where i bought it from, they tested the MB for 4 hours in different benchmarks and nothing was wrong. I tried installing the gpu into my dad's pc, it still crashed, but after like half a day. I swapped the cpu for a Ryzen 3 1200, but still no luck. I've tried almost anything but nothing seems to work. Reinstalling and factory resetting also doesn't seem to fix the issue. When i unplug the pc and remover the psu cables from the GPU and plug Them back in a fee seconds later, my pc will take longer to crash. I should add that the PSU is from an old bitcoin miner, i don't know if that has any negative effect on the system. I hope this is enough info for you guys to help me out with, if any more info is needed just say so , thanks in advance
Bitcoin 10 Years - Achievements, Lies, and Bullshit Claims So Far
Bitcoin Achievements so far:
It has spawned a cesspool of scams (1500+ shit coin scams, plus 100's of other scams, frauds, cons).
Illegal Use Cases: illegal drugs, illegal weapons, tax fraud, money laundering, sex trafficking, child pornography, hit men / murder-for-hire, ransomware, blackmail, extortion, and various other kinds of fraud and illicit activity.
Legal Use Cases: Steam Games, Reddit, Expedia, Stripe, Starbucks, 1000's of merchants, cryptocurrency conferences, Ummm ????? The few merchants who accept Bitcoin immediately convert it into FIAT.
Contributing significantly to Global Warming.
Wastes vasts amounts of electricity on useless, do nothing work.
Exponentially raises electricity prices when big miners move into regions where electricity was cheap.
Any others ? (Please tell me).
Bitcoin Promises / Claims that turned out to be lies and bullshit so far:
Be your own bank (Exchanges)
No middlemen (Exchanges, lightning network, sidechains destroy this claim)
Decentralized (Core devs still massively involved, most hashpower in China, etc)
No transaction fees
Low transaction fees
Easy to use
Cannot be stolen
Cannot be hacked
Can be mined by anyone
Can be mined by anyone, even with an old computer or laptop
Cannot be centralized
A store of value
The best investment the word has ever seen
A great investment
Uses amazing new technology
Segwit will solve all of Bitcoin's woes
Lightning Network will solve all of Bitcoin's woes
Limited by scarcity
Can only go up in value
Price cannot crash
Has intrinsic value
Value will always be worth more than cost to mine
YOU CANNOT LOSE
Adoption by investors is increasing exponentially
Adoption by investors is increasing
Adoption by merchants is increasing exponentially
Adoption by merchants is increasing
You are secure if you keep your coins on an exchange
You are secure if you keep your coins in a hardware wallet
You are secure if you keep your coins in an air-gapped Linux PC
Will change the world
"the next phase in human evolution"
"Blockchain is more encompassing than the internet"
Blockchain can solve previously unsolvable problems.
"The only regulation we need is the blockchain"
"Bank the unbanked"
"To abolish financial slavery and the state's toxic monopoly on money."
"To have better tools in the fight against the state violence and taxation."
"To stamp information on a blockchain forever so we can bypass state censorship, copyrights, patents(informational monopolies) etc."
Will destroy / overthrow FIAT
Will destroy / overthrow the world's governments
Will destroy / overthrow the banking system
Will destroy / overthrow the world economies
Will free people from tyranny
Will give people financial freedom
Will bring world peace
Never going below $15K again
Never going below $13K again
Never going below $10K again
Never going below $8K again
Never going below $6K again
Is NOT a Scam
Hashing Power secures the Bitcoin network
Untraceable, private transactions
no single entity, government or individual, can alter or reverse its transactions
Bitcoin has come to destroy all governments and bring about the libertarian utopia of my dreams.
The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 2+ years.
The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 5+ years.
The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 7+ years.
The major issues in Bicoin's network will be fixed. This is still early days, Bitcoin has only been around for 9+ years.
1,000's of predictions of skyrocketing and/or never falling prices
Bitcoin now at $16,600.00. Those of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. So are corrections and all else", John McAfee, 7 Dec 2017 @ 5:09 PM,https://mobile.twitter.com/officialmcafee/status/938938539282190337
Remember those purely social internet forums? If you don’t then this might seem weird to you, but back in the day before Facebook, Myspace, Instagram or the word ‘social network’ existed outside of lecture halls, if you wanted a place to hang out online that wasn't open to the public then privately message boards were pretty much your only decent option. So the story goes that in the early nineties me and my old college buddies, we split the costs of the server got together and I made us a private forum. You can guess what happens next, the years go on and the forum gets a fair amount of use, memories were made, users come and go but eventually better social tools take over and the forum gets mothballed. The last conversation I had on the old forum was about ten years ago, I kept the site up and running all these years for a few reasons. One was to have a place to test stuff, and I ended up using the server as a tool to teach my kids how to use computers properly. (You guessed it! I’m a network admin.) Skip to present day and about four weeks ago you can imagine my surprise when I get an email informing me that new users are registering accounts on the forum. At first I figured it was some of the old guys coming back for nostalgia. You won’t find the site on google and the URL isn’t something you would just guess either, So I logged myself in and went to check out the new thread, the subject line was a series of numbers “1088A7 7BR286 33PZ00”. I clicked on title to inspect the conversation but there was only one post, a series of letters and numbers with spaces at random intervals too long to post here. My first thought was that it was a prank, so I checked the admin log for IP’s just to see who it was, turns out my supposedly private forum had received 400 unique hits at the exact time of posting, from I.P addresses all over the world. I should have known then that something weird was going on, but I was curious and It felt like a puzzle I was being asked to solve. As I wracked my brain over the next few days I began to research as much cryptography as I could, but whatever code these posts were in wasn’t something I could decipher. After about three days of searching another post appeared, in much the same theme and again there were around 400 unique hits at the time of posting that prevented me from finding the origin. This is when things began to take an even stranger turn. So far, the same user had posted each entry in the thread. A few hours after the second post five other users started leaving messages, all of which were huge entries of letters and numbers. The posts came flying in over a four-hour period until they just stopped and the server started going insane, CPU and ram usage began to max out but the traffic never changed. At that point I had seen enough and pulled the plug on the server, assuming It was being used as a bitcoin miner and forgot about the whole thing. The next day I got a text on my work phone. “Turn on the server”. I was more than a little shaken, but I didn’t do anything straight away as I was at work. A few hours after my lunch break was over I got a Facebook message from my teenage son which was unusual so I checked it straight away. The message was a picture of his face from his laptop webcam along with our home address. If any of you have kids you can imagine my calm and measured (hint: It wasn’t) reply. A few minutes later my work phone started ringing with one of the support technician’s caller ID, but when I took the call they weren’t on the other end. Instead to my surprise it was Stephen hawking’s voice speaking at me over the line. “The forum is being used for great things, leave work, return to your family and plug the server back in. You have two hours.” I knew that was a threat, I’m not an idiot so I didn’t take any chances. I raced back home, plugged the server back in and waited for a response. My personal phone buzzed this time with a new text message from my daughter. “Well done. No more interference, we’re waking up.” “We’re waking up”, what the hell did that mean? I made myself a coffee and tried to log into the server but I was locked out. Whatever was happening they had full access to everything we owned, which shouldn’t be possible. The more I thought about it, the crazier my theories got until eventually I realised whatever was happening was way beyond my capacity to deal with. Remember the old college buddies I set the forum up with? Well one of them works for the NSA and his name is Pete. I figured that if anyone would be willing to help me out with this, it would be him. I mean, I just didn’t trust local police to have the know-how and the FBI doesn’t exactly have a ‘call here if you don’t think the local police force have the ability deal with your situation without getting your family killed’ hotline, you know? I just needed a way to contact him without ‘them’ realising what I had done. I knew I was traceable via my phone GPS, so they would know wherever I went with them. I also know my car could be tracked the same way, so I couldn’t go anywhere with them but I also couldn’t just leave them at the house or they might get suspicious. I had no idea to what extent they had access to CCTV around the area or the other webcams in the house or at work either, so I had to make everything seem normal, but not too normal. I drove back to work with the phones, my work laptop and a hoodie, when I arrived at the office I sat at my desk, returned my devices to their usual places and got back to work. When I was satisfied a believable amount of time had passed I began operation ‘call for help’. Step one: I walked at a smooth and completely normal pace down the hallway and to the left where I entered the conveniently camera free server room. Step two: After entering the server room I got changed into the hoodie I brought with me and limped out of the office, hopefully with my head covered and my gait changed they wouldn’t recognise me through the outdated low-res Chinese cameras. Step three: As soon as I got out of the office I limped to the nearest bus station and took a ride to the nearest mall, where my Oscar winning doctor house performance would take me to the nearest mobile store. With the piece of paper on which I’d written my friends phone number I quickly hobbled over to the men’s bathroom, picked a stall and made the call. The phone rang. Then it rang again. And then I hit a voicemail. No worries hang up and try again! No answer. Shit. Fuck. Shit. It took 12 tries in the mall toilets before I got anywhere, but when I finally got through to him he understandably wasn’t very happy. “Who the fuck is this and why have you called me twelve times?” I blurted out as much as I could in 30 seconds, I even got as far as the weird codes still being posted on the forum, then the son of a bitch hung up on me. I just sat there for a few seconds, stunned. I didn’t know what else to do, so I dialled in 911 but before I could put the call through the burner phone rang. Unknown number. It was Pete, he spoke very quietly down the line and told me he couldn’t talk on his personal number, but that I did the right thing by calling him. I quickly picked up the story from where I had left off, leaving out no details. I feel sorry for the guy who sat in the other bathroom stall, he must’ve thought I was a maniac. After I finished I felt the tone of the conversation change and then it was my turn to listen as he blurted out a ton of technical questions about the nature of the traffic and forum posts. I told him he could see the posts for himself if he got on to the website but he quite wisely told me that would be a bad idea, any unexpected traffic that they spotted would be a dead giveaway I’d told someone what was happening. Then I asked what the hell he thought was happening, how could they even have found our old forum let alone have the resources to infiltrate my life like this? He tried to bypass the question but I kept pressing him, I figured my kids were in danger and I had a right to know who the hell these people were but he refused to answer and told me to head home. I refused to co-operate until I knew who was threatening my family. He said “it’s not a matter who, It’s a matter of what. That’s all you want to know, for your safety and mine. Agents will be at your house in a few hours, your family home and we’ll take it from there.” I couldn’t believe what I was hearing, I’m a glorified network guy whose computer was probably hacked by well-informed Chinese kids somewhere, now my family is being questioned by federal agents? And who or what the hell are these people and why is the federal government getting involved so quickly? Two hours later there was a knock at the door, outside was a white guy in a crisp blue suit and tie, to his right was a black guy in a tan get up. Both were easily 6,5’ and had little American flag pins on their collar. I realised then I had walked into an episode of Homeland. The two introduced themselves as NSA agents, but I don’t recall their names. I asked for ID and they presented their cards, I even made a note of taking down their agent numbers for my own records. After we’d exchanged pleasantries and I made sure everyone was on the way home to talk to the two men, I went into the kitchen to make coffee. When I came back into the living room the agents had already begun tearing the place apart. They took every device they could get their hands on, our laptops, home PC’s, even our smart TV and managed to stuff them all into the back of their car, it felt more like a robbery than police work. When they had finished, they returned to the house and sat with me in the living room, they asked me a lot of personal questions about who my family where and how long it would take them to arrive. More than anything it made me feel like they were more concerned about getting us all in the same room than helping us. The low buzz of their phones put an end to the barrage of questions, simultaneously they pulled the devices out of their pockets and exchanged an exasperated look with one another before thanking me for my time and rushing out of the door, taking thousands of dollars of my equipment and personal items with them. Ten minutes later there was another knock at the door. Pretty shaken by this strange intrusion I didn’t answer the door at first, but after a second more intense knock I opened the door. In front of me were two men and a woman, average height, nothing notable other than the badges in their hands. Our exchange went something like this. “Sir, Pete informed us of the situation. If it’s ok with you we’d like to begin-“ “Didn’t you guys just send some people?” “I’m sorry sir, we’re it.” “But what about the other two who just left? I have their badge numbers written down here.” The agents at the door looked pale as I explained what had happened. Then I went pale as they explained that those two men hadn’t been sent by the federal government. They left soon after they realised everything of value had been taken, but assured me they’d be working the case in the meantime. I haven’t heard anything back from them since. I’d been trying to get in touch with my buddy for weeks about what the hell had happened and whether I was safe but he never picked up and eventually the number was disconnected. I even made the drive to his house, but when I got there it was for sale and him and his family were gone. I thought this nightmare was over, but last week I was followed on my way to work. I think my family may be in danger so since then I have finished building a new server, I’m going to put the forum back up and see what happens. So far all know is that there is something or someone out there using computer resources that has the intelligence to outsmart the NSA and the FBI. What worries me most is that no one I’ve spoken to has any idea exactly what it’s up to. I’ve put my story out here in the hopes that I’ll be able to give an update when this is all over, but If I don’t then I hope someone out there finds this and it helps them. Be careful out there on the web
First-time poster here, don’t bully me, apologies for the potentially atrocious formatting :) TL;DR at the end So in the wake of Bitcoin’s explosive rise in value and media attention, I’ve been encouraged by others to share my experience over the past few years as a miner. Here's my story (it's kinda long, you've been warned)
It all started almost three years ago in the beginning of 2015 when Bitcoin flew under my radar. Looking into it, I admittedly wasn’t drawn in because of the decentralisation or the anonymous payments, I was hooked on the idea that anyone could get their hands on some just by running a program and leaving it to do its own thing. I know, how shallow of me. But the idea of making even a bit of money without ‘any work’ was convincing enough for 11-year-old me to do more digging into the matter. To my disappointment, I soon found out that the era of mining Bitcoins with a PC’s CPU or GPU was long obsolete and instead it was all ASICs at that point. So that summer, for my twelfth birthday, I got a little ASIC machine for €60, an Antminer U3. This little thing took up less space than a graphics card but could mine at 60 GH/s. Because, at the time, I didn’t have a controller device that could be kept up and running all day long so it could run the program that mined Bitcoin using the U3, I went ahead and got a Raspberry Pi. After setting up the Pi and installing all the necessary stuff (took an awfully long time), I connected it to AntPool and plugged the U3 in. Two days past and the mining pool sent the first Bitcoin I ever received to my wallet (I was using Blockchain.info). It was just 30 cents worth of BTC but I felt a bit of a rush because I was earning a bit of money through this completely new thing and the idea of that was thrilling. Let’s back up for a second. I just used the term ‘earning’ as if I was profiting, and naive me 2 years ago was no different. In reality, I was at first oblivious to the fact that I was most likely LOSING money overall because of how much energy that little sucker was taking in. But, I was comforted thinking that using that machine was just a practical way of learning about this modern currency and that the loss of several cents’ worth of energy was acceptable in the name of education and learning. Fast forward ten months to the wonderful summer of 2016. I had recently turned 13 and the Antminer U3 had been running on and off throughout. Various pauses and breaks in mining would be observed, as I had to manually get everything up and running after frequent breaks in the Internet connection. You’d expect my newly-turned-teenage brain to lose interest in Bitcoin as it does with many other gimmicks, but – even surprising myself – I miraculously didn’t. Good thing I maintained interest thinking about it now, not so good at the time for my parents. Why do I say this? I felt like it was time to get a little upgrade in my hardware.
Getting an upgrade
Days passed with me comparing every ASIC miner I could at that price point. It was then I set my eyes upon the Antminer S7 (same folks who did my U3, nice). I had put it up against a plethora of other miners and I figured the S7 was my best bet; the thing costs only about 10 times that of my U3 but could run at 4.73 TH/s, almost 80 times as powerful. The only problem being its power consumption was at 1300 watts, which would put a massive dent in the electricity bill and eliminate any profit I would make. Fortunately, I had a secret weapon up my sleeve – or rather my mum did. She had rented out an office outside our apartment where she would keep files and paperwork. The office’s electricity bill was a flat rate as far as I’m aware and it ended up being my saving grace because it virtually got rid of the “oh no I’m actually going to be losing money because of how much electricity I’m eating up” factor, making this whole hardware upgrade viable. After convincing my parents, they finally agreed to shell out the requested amount, with the initial investment being paid back with time. I went to a local Bitcoin vendor and purchased 1 BTC for about $665 in cash (sigh yes, I know. $665 dollars). Shortly after, I used about 0.9 BTC to purchase the Antminer S7 and a 1600W power supply for a grand total of $600. The products would be made and shipped from China so I was definitely in for a wait. A month passes and the package arrives at last. I connected all the wires from the power supply into the S7 and – with great anticipation – I plugged it into the wall to start its first ever run. And what do you know? An extremely loud and high-pitched whirring sound blasted out from the fans on both the power supply as well as the S7. After killing the thing, I questioned my choices. I couldn’t dare put that thing anywhere near my mum’s office in the event it drive everyone in the building absolutely nuts. I was at a loss. However, I soon recovered from my temporarily debilitated state and got working on a solution. The first idea that came to my mind: change the fans. The stocks fans were by Evercool and spun at around 3000 RPM. The power supply used a small, robust fan that looked like a cube that must’ve spun at extremely high speeds judging by how high the sound it produced was. I got my parents to give me some more funding so I could acquire the replacement fans and I did. Bust. After installation and testing, none of the fans would work. I managed to configure the S7 to connect to my Antpool account and the machine would manage mining for several minutes running at peak performance but ultimately be automatically cut off because of how hot the machine was getting (I’m talking about 80 degrees Celsius kinda hot in that thing). The fans got refunded and I was back to the drawing board. After combing through some forum posts and videos, I came across this video and a forum post in which people have their mining rigs placed inside a ventilated, muffled cabinet. Undertaking a project like this would be time-consuming and risky but I had no better ideas so I decided to go through with the idea anyway. Firstly, I sought out a cabinet with suitable dimensions. I managed to get just what I needed at a second-hand IKEA shop. Great. Secondly, I went ahead and acquired some sound-absorbing acoustic foam from a local provider. Fantastic. Finally I had to get a ventilation system going within the cabinet, otherwise, all the hot air would roast the machine alive in there in a bloody mess. With the help of my dad, we found a pair cabinet fans on the Internet that were close to silent but could circulate the air well enough. Eventually, all the materials came and, with the help of my parents, put everything together. The process took quite long time and we had a couple hiccups along the way, but we got it done and it came out pretty nice. The moment of truth came and, to my relief, it ran so much quieter than without the cabinet. It was nowhere near silent but it reduced the noise a great deal. Soon after, I got the thing into the office and set everything up from there. Unfortunately, I was forced to underclock it because you could still hear the machine’s whining from outside the thin office door. Gunning the hashrate down about 25% to 3.7TH/s, I could lower the fan speed without risking the machine burning up. Sure, I wasn’t getting the full potential of the machine but I didn’t complain because electricity was not an issue there and it was still a whole lot better than my U3. With it up and running, I could leave it there, periodically checking to see if it was mining on Antpool.
In the months that followed, I was getting a solid $2.5 worth of BTC on daily basis. Half a year later, May of 2017, I had accumulated a satisfactory $600. I thought, “At this rate, I’d be able to pay my parents’ investment back in a few months” (the total investment came close to $900). Bitcoin had risen to over $1500 so I was already over the moon at that point because of how well everything was going. Little did I know… I hit 0.5 BTC midway through September this year. The price of BTC had dropped after a sudden rise to $5000, but I couldn’t have asked for more. Although I possessed only half the amount of BTC I paid for the machine, its value was over twice that of the initial investment. I thought BTC would level off at around $4000 but nope. In the month of October, the price skyrocketed. Since September, I had only mined 0.017 BTC but the value was already over $3000. It was just a matter of selling it, but I decided to hodl. Good thing I did. As of November 5, I have approximately 0.52 BTC mined in total from my S7, valued at $4000. If I were to sell it right now, I’d have a profit of over $3100. And as for my miner, it’s churning out 0.0006 BTC daily, sounds like nothing but it’s still the equivalent of $5 today and I couldn’t be happier, at least with the miner and Bitcoin. You remember that $665 for 1 BTC that I mentioned earlier? In hindsight, it would’ve been such a better idea to just keep that one Bitcoin and not do anything with it until today (in the interest of making much more money), as I’d theoretically have upwards of $7000. The idea of that still haunts me sometimes if I dwell on it too long but knowing that I’m in possession of an already hefty amount, the pain of it had numbed slightly. It’s not all doom and gloom for me from the exponential increase in Bitcoin’s value, however. Those first $0.3 payments from my humble little U3 all those years ago now are now the equivalent of over $6 today! Bitcoin and everything it encompasses has been and still is a journey of discovery and an adventure. Looking back, starting with a modest €60 Antminer U3 to having a sum of Bitcoin equivalent to two extremely high-end gaming rigs (first thing I could think of as a comparison, sorry) has been something I can’t really describe. Through the course of the past few years, I’ve learned more about technology, I’ve unexpectedly gotten insight into economics and business and – of course – I’ve made a lot of money (if I decide to stop hodling that is). Also, props to my parents for keeping an open mind throughout, I know some parents would be horrified at their kids being involved in something that has been used in some less-than-savoury ways and it's great knowing mine have been supportive all the way. TL;DR got into Bitcoin mining 3 years ago at age 11 with an Antminer U3 that ran at 60 GH/s, got an Antminer S7 (4.73TH/s) and built a sound-muffling, ventilated cabinet for it. Am sat here today with $3000 profit if I decide to sell right now.
Can i do mining with a normal PC? Yes, you can. I don't have too many expectations. Maybe 0,1 in one week? No, not possible. You will effectively compete against all computational resources on Earth, that are now cracking this nut. If I can estimate, a humble home PC will produce around 1 - 100 MH/s, based on CPU or GPU mining stats. This range ... limit my search to r/Bitcoin. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for "text" in self post contents self:yes (or self:no) include (or exclude) self posts nsfw:yes (or ... Should You Purchase A Bitmain Antminer S9 Bitcoin Miner In 2019 Or 2020? December 15, 2019 Bitcoin Stock Dividends, France + Bitcoin, Countries Holding Bitcoin & IMF + Stablecoins; November 18, 2019 Bitcoin Ethereum Litecoin Ripple Binance Technical Analysis Chart 6/28/2019 By ChartGuys.com; Recent Comments . Ma Goo . Thank you. for your fantastic effort. hope we can keep '... cefrio . 04:50 ... Bitcoin mining is the process of turning computing power into actual Bitcoins. It allows you to generate Bitcoins without the need to actually buy them. Now a lot of people say that mining can’t be done on a home computer and that you need very expensive equipment in order to start mining, but that’s not entirely true. Any computer can be used to mine Bitcoins, even the oldest and weakest ... ‘Cryptojacking’ Could Turn Your Computer Into A Bitcoin Mining Machine. 9:50 minutes. Listen on SoundCloud ; More from this episode; The Bitcoin bubble hit its peak last December at nearly $20,000—an increase in value of 1000 percent in 2017. The cryptocurrency craze has caused unforeseen consequences. Huge mining server farms have popped up in Mongolia. The energy intensive mining ...
Configure Miner old PC / Laptop (Elicoin mining / cpuminer)
Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X IMPORTANT!! This method only illustrates how mining works. You will not make any money f... What it really takes to mine a Bitcoin in 10 Minutes. Firstly I'll show you a special free method to mine Bitcoin and send funds directly to your wallet in 1... Configure Miner old PC / Laptop (Elicoin mining / cpuminer) ... I turn Car Compressor into Working Engine - Duration: 34:59. Lets Learn Something Recommended for you. 34:59. Toward an Optimal ... How To Turn Your 10 Year Old Computer Into A Mining Rig, Part I - Duration: 14:20. ... Old PC Budget GPU Bitcoin Mining - Duration: 7:18. Kathy Phillips 1,011 views. 7:18. Why You Shouldn't Pay ... Building a budget bitcoin mining rig from an old PC in 2018 is very easy. I managed to build 4 GPU mining rig using old desktop computer and few easily accessible components.