Hashrate - Large Bitcoin Mine! Bitcoin Mining Rental ...
Hashrate - Large Bitcoin Mine! Bitcoin Mining Rental ...
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Making A Living From Bitcoin
If you are like me, then you are probably always looking for new ways to generate income. There are always new opportunities out there to make a quick buck, however, I try and be selective and do extensive research into the opportunities I spot. I have recently become very interested in the opportunities that Bitcoin trading presents. Increasing your streams of passive income through a diverse range of methods can start to add up to a significant amount each month. Here are a few ways to start making money through Bitcoin. Mining Bitcoin Essentially mining means using computing power to secure a network to receive Bitcoin rewards. It is the oldest form of earning passive income through Bitcoin as it doesn’t require you to have cryptocurrency holdings. In the early days, this method was a viable solution, however, as the network hash rate increase most miners shifted to using more powerful Graphics Processing Units. Due to the vast increase in competition mining became the playing field of Application-Specific Integrated Circuits (ASICs) - electronics that use mining chips tailor-made for this specific purpose. Nowadays setting up and maintaining mining equipment requires substantial investment and technical expertise – but it's worth it if you happen to fit the criteria. Not to mention the cooling costs associated with running a machine powerful enough to mine Bitcoin. Staking Staking is a less resource-intensive alternative to mining, involving keeping funds in a suitable wallet and performing various network functions to receive staking rewards (i.e. Bitcoin). Usually, staking involves establishing a staking wallet and simply holding the coins. In other cases, the process will involve a staking pool. Some exchanges will do all this for you – all you have to do it keep your tokens on the exchange and all the technical requirements will be taken care of. This is a great way to increase your Bitcoin holdings with minimal efforts. Lending Lending is a completely passive method to earn interest on your Bitcoin holdings. There are several peer-to-peer lending platforms available that enable you to lock up your funds for a period of time to later collect interest payments. The interest rate could either be set for the platform or based on the current market rate. This method is ideal for those looking for long term rewards, however, it is worth noting that locking your funds in a smart contact always carries the risk of bugs. Finding a Bitcoin Trading Company For those who are less technically inclined and don’t have a firm grasp of how Bitcoin trading works, there is always the opportunity of finding a company that will trade on your behalf. The issue with this is that there are many seedy companies who claim to do this but then end up ripping you off. In order to have peace of mind, you need to find a Bitcoin trading company that understands the market and is reputable enough. I stumbled across Mirror Trading International, a company that operates out of South Africa. What immediately stood out for me was that they were transparent and professional in their engagements. Daily profits are paid on the days where there are profits recorded. In addition to this, they have made the entire registration and withdrawal process as simple as possible. All you have to do is simply fund your account with the minimum fund value and you can start earning. If you do need to access the funds, then this is a simple process that you have full control of. I would suggest everyone to do their research and keep an open mind. The thousands of testimonials, along with their members from all across the world is testament that they are a legitimate company that is sustainable.
It's not a secret anymore that people are trying to mine private keys. Even if chances are astronomically low to find the right key, there is a chance. With a graphic card mining rig, a miner, with an investment of a few hundred $, can produce more than 300MH/s. Now imagine if someone is dedicating even more resources to find a private key. As I said, chances are low to achieve that. That's the beauty of mathematics. But there is a chance, and right now, people are trying to do so. There should be a way to prevent such behavior. I was thinking of a solution to this problem: A wallet should have a "wallet token/coin". When a user wants to make a transaction, let's say with Bitcoin, at first, it would need to make a transaction using the "wallet token". The "wallet token" has a private key of its own. The private key is a hash generated using a username, password, pin, and timestamp. The transaction would be automatically directed to the connected node if it's not specified differently. This transaction would produce a tx id. Just as now, when the user wants to make the Bitcoin transaction, the user would need to insert his private key. In this case, besides the private key, the wallet would ask for the tx id done with the "wallet token". Those two hashes would produce a unique, more extended, and one-time use, private key. This last private key would enable the wanted transaction. The private key miner would need to make countless transactions before even being able to find out if he got the right private key. Economically, it would not be profitable, unlike now, when he can effortlessly guess and try if the private key "fits" until it succeds. The "wallet token" would be created with some of these mechanisms:
Proof of work - mining like BTC
Proof of ownership - every wallet would produce small amounts of tokens over time.
Proof of transaction - Every transaction you do, you generate a new token for future transactions.
This is not a light and user-friendly solution. Its sole purpose is enhanced security. PS I'm not a techy guy. I don't know if this would require a completely new blockchain or it could be implemented in already existing wallets, coins, and protocols. Even if enormous numbers are reliable enough to keep our cryptocurrencies safe, faster and more efficient computers are being built every day. At this rate of progress, it not hard to imagine a super ASIC that could be able to mine a private key if left a few years to do its job. Not to mention the threat that quantum computers represent. I hope this will open a discussion in the crypto community to find the best solution to this problem. Or at least someone could explain why this is not an option or is a bad idea. Thank you Satoshi!
If there is a cryptocurrency that has acquired popularity close to Bitcoin, then it is Ethereum. It is among the leading crypto-currencies when it comes to market capitalization. Ethereum is not just a cryptocurrency, but it is also a blockchain system that is useful in creating decentralised applications. Since Ethereum Blockchain is used by most companies now, it is gaining popularity among Ethereum miners and developers. Ethereum mining is a great way to make more cash. Benefiting from cryptocurrencies in p is a perfect option. Since many applications for Blockchain depend on Ethereum. Ethereum mining is going to be lucrative, as its price is expected to grow. The Ethereum minimum can be simplified with the use of the best Ethereum software. There are some apps like that on the market, and we've got the seven best for you here. 7 Ethereum 's Best Apps: ETHminer- This is an Ethereum mining application which is supported on Linux , Windows, and Mac. It is also possible to use the Ethash algorithm, luke Ellaisma, Musicoin Ethereum Classic, Metaverse, It is a command-line program that allows you to construct shortcut commands using a Windows cmd / batch file or Linux Bash script. The next software on our list is CGMiner-A, which was published in 2011. It is one of the common choices and has compatibility with GPU, FPGA, and ASIC. It is open-source software and can cause advanced detection of blocks. It is written in C; Ethereum developers are able to save a hash rate without delay using this Ethereum mining programme. On Linux , Windows, and Mac, this program is open. BitMinter- The graphical interface is transparent and it links easily to the Bitminter mining pool. This software was launched in 2011 and has more than 450,000 user accounts registered. The Java Network Launch Protocol (JNLP) is the foundation of its operations. Linux, Windows and Mac are also compatible with this programme. Claymore- This is one of the most powerful mining applications for Ethereum, and without delaying the mining pace, you can scale up the hash rate. You can also mine other cryptocurrencies like Lbry, Pascal, Siacoin, and Decred using this Ethereum mining programme. This software is Linux and Windows compatible and not Mac compatible. WinETH- If you are looking for an Ethereum mining app that is fast and simple to use, then this is the one for you. It is comparable to WinETH, but it has a simpler Interface and a smarter algorithm that makes it easy to use for Ethereum miners. Minergate-It was the first mining app for Ethereum to deliver merged mining. You can use this app to concurrently mine two separate coins without impacting the main coin's hash rate. In addition, this coin will also tell you about the market's most valuable coins. This programme can be used by Ethereum miners to mine other coins, including Zcash, Liteoin, Monero. BFGMiner- This programme is written in C and operates on various Linux, Windows and Mac operating systems. You will mine crypto coins and have both SHA256D and Scrypt on its algorithm. It also offers you total support for tracking. Conclusion- These are some of the popular mining applications for Ethereum that you can use. If you would like to know more about the creation of Ethereum, or Ethereum mining, If you wish to know more about Ethereum development, or Ethereum mining, or you want to enroll for Ethereum certification, connect with Blockchain Council today.
New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v184.108.40.206 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v220.127.116.11 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v18.104.22.168 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v22.214.171.124 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v126.96.36.199 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
https://preview.redd.it/wl6l09melkv41.png?width=1025&format=png&auto=webp&s=67a72ac734ae8dc39452143ac9c4ec5d58c34eac Whether you’re a crypto faithful or just a passer-by who happened to notice a bitcoin headline, you’ve likely come across the halving. The roughly quadrennial event is arguably an important one in the progression of the bitcoin network. For all the adjustments and changes to bitcoin’s code since its launch – and the evolution of the ecosystem and industry around it – the issuance cycle and bitcoin’s predetermined supply have never been altered. The halving is, perhaps, emblematic of both bitcoin’s philosophical basis as well as its technical progression. It’s also a heck of a lot of fun, with past halvings inspiring celebrations and watch-parties for those counting down each block until the halving officially kicks in. So, let’s get into it.
What is the bitcoin halving?
First, some basics. Each bitcoin block brings three things with it: transactions, newly-created bitcoins and fees. For example, block number 625875 included 1,478 transactions worth 4899.23684782 BTC. The block was created by BTC.com. In exchange for making that block, BTC.com earned 12.5 BTC and 0.08439752 BTC in fees. When bitcoin first launched, each block had a subsidy of 50 BTC. In 2012, that amount fell to 25 BTC per block, and in 2016 it was further reduced to 12.5 BTC per block. With upcoming halving – currently estimated to take place in or around May 12, when the network hits its 630,000th block – that amount will drop to 6.25 BTC per block. To date, roughly 18.3 million bitcoins have been minted out of a total of 21 million that will ever be created.
Wait, what’s a miner?
Miners create the blocks of transactions that make sending BTC throughout the distributed bitcoin network possible. They append new blocks to the ever-growing chain – that’s the blockchain – and are rewarded with new bitcoins for doing so. To create block 625875, BTC.com ran its miners and sought to be the first to create the next block. Mining is resource-intensive by design, and while some have described the process as an effort to solve a complex mathematical problem, a more apt description might be that miners rapidly try forming different numbers until they land on the right one. Mining is a key element of Bitcoin’s security. As more blocks are added, it becomes more difficult to rewind the transactional clock and undo transactions from earlier blocks. The generation of new BTC is how miners make money; their profits come from the sale price minus the cost of electricity, labor and everything else it takes to keep their legions of mining machines humming. The block reward is also the bedrock incentive for miners to keep the block production process – and, as a result, the transaction history – honest. By getting paid in bitcoin, they have an interest in seeing its price stay steady. A transaction history prone to manipulation or tampering would have no value. The cycle of block reward or subsidy halvings is baked into bitcoin’s code. The reward reduction underpins bitcoin’s controlled supply, serving as a kind of digital parallel to finite natural resources. So miners create new bitcoins, and with the halving, they’ll create fewer new bitcoins. Yes. As The Block highlighted on Monday, miners currently make an estimated $13.4 million per day in new bitcoin and fees. Once the halving kicks in, that’ll drop to about $6.7 million total in the even that prices remain steady. Of course, that number may very well fluctuate depending on the market reaction in the hours, days, weeks and months ahead. For a deeper look, check out The Block’s Larry Cermak by-the-charts column on the halving published on Monday. I heard that the price is going to go up with the halving. Is that true? Much digital ink has been spilled in recent months on the question of whether bitcoin’s price will rise as a result of the halving. There are varying theories as to why: the halving will bring new market entrants, the tightening of issuance will spur more buying, or history will basically repeat itself. For example, bitcoin’s price rose above $1,000 a year after its 2012 halving. The July 2016 halving saw bitcoin’s price around $660 – a year later, the price had soared above $2,000. But those were, arguably, different times, and next month’s halving is the first to occur after the parabolic craziness of early 2018. A price increase isn’t a foregone conclusion – though, to be sure, neither is a drop or a continuation of the status quo. Okay…so the number isn’t going up? Nobody knows. And this isn’t investment advice, so quit asking me.
Who will be affected by this?
One can expect that major portions of the bitcoin-facing industry could be impacted in one way or another. As noted above, miners will see the primary element of their income – new bitcoins – be cut in half. That’s bad news for miners who are operating older, less efficient hardware or borrowed significant sums of money to get new equipment – especially those hit by the recent turbulence in crypto markets. Bitcoin’s hash rate – a measure of the network’s computational power – could slip as some operations find themselves unable to make a profit and thus are forced to power down. Exchanges will be affected because they’ll be front-and-center for any market response. It could prove to be a boon for exchanges as they’ll arguably be in the best position to benefit from any positive market moves.
Where can I watch the halving take place?
The best vantage point would a block explorer, where live updates for new transaction blocks can be found. Given that the vast majority of countries are currently in the midst of social distancing because of the coronavirus pandemic, it’s unlikely that in-person parties will be held. But with everyone stuck at home, it’s virtually certain that those with a stake or interest in crypto will be online – from Twitter to Telegram to IRC – waiting for the third-ever bitcoin reward halving to take place. Written By:Ben Edited By:Mosun Graphics By:Jacobite
Dear Groestlers, it goes without saying that 2020 has been a difficult time for millions of people worldwide. The groestlcoin team would like to take this opportunity to wish everyone our best to everyone coping with the direct and indirect effects of COVID-19. Let it bring out the best in us all and show that collectively, we can conquer anything. The centralised banks and our national governments are facing unprecedented times with interest rates worldwide dropping to record lows in places. Rest assured that this can only strengthen the fundamentals of all decentralised cryptocurrencies and the vision that was seeded with Satoshi's Bitcoin whitepaper over 10 years ago. Despite everything that has been thrown at us this year, the show must go on and the team will still progress and advance to continue the momentum that we have developed over the past 6 years. In addition to this, we'd like to remind you all that this is Groestlcoin's 6th Birthday release! In terms of price there have been some crazy highs and lows over the years (with highs of around $2.60 and lows of $0.000077!), but in terms of value– Groestlcoin just keeps getting more valuable! In these uncertain times, one thing remains clear – Groestlcoin will keep going and keep innovating regardless. On with what has been worked on and completed over the past few months.
UPDATED - Groestlcoin Core 2.18.2
This is a major release of Groestlcoin Core with many protocol level improvements and code optimizations, featuring the technical equivalent of Bitcoin v0.18.2 but with Groestlcoin-specific patches. On a general level, most of what is new is a new 'Groestlcoin-wallet' tool which is now distributed alongside Groestlcoin Core's other executables. NOTE: The 'Account' API has been removed from this version which was typically used in some tip bots. Please ensure you check the release notes from 2.17.2 for details on replacing this functionality.
Builds are now done through Gitian
Calls to getblocktemplate will fail if the segwit rule is not specified. Calling getblocktemplate without segwit specified is almost certainly a misconfiguration since doing so results in lower rewards for the miner. Failed calls will produce an error message describing how to enable the segwit rule.
A warning is printed if an unrecognized section name is used in the configuration file. Recognized sections are [test], [main], and [regtest].
Four new options are available for configuring the maximum number of messages that ZMQ will queue in memory (the "high water mark") before dropping additional messages. The default value is 1,000, the same as was used for previous releases.
The rpcallowip option can no longer be used to automatically listen on all network interfaces. Instead, the rpcbind parameter must be used to specify the IP addresses to listen on. Listening for RPC commands over a public network connection is insecure and should be disabled, so a warning is now printed if a user selects such a configuration. If you need to expose RPC in order to use a tool like Docker, ensure you only bind RPC to your localhost, e.g. docker run [...] -p 127.0.0.1:1441:1441 (this is an extra :1441 over the normal Docker port specification).
The rpcpassword option now causes a startup error if the password set in the configuration file contains a hash character (#), as it's ambiguous whether the hash character is meant for the password or as a comment.
The whitelistforcerelay option is used to relay transactions from whitelisted peers even when not accepted to the mempool. This option now defaults to being off, so that changes in policy and disconnect/ban behavior will not cause a node that is whitelisting another to be dropped by peers.
A new short about the JSON-RPC interface describes cases where the results of anRPC might contain inconsistencies between data sourced from differentsubsystems, such as wallet state and mempool state.
A new document introduces Groestlcoin Core's BIP174 interface, which is used to allow multiple programs to collaboratively work to create, sign, and broadcast new transactions. This is useful for offline (cold storage) wallets, multisig wallets, coinjoin implementations, and many other cases where two or more programs need to interact to generate a complete transaction.
The output script descriptor (https://github.com/groestlcoin/groestlcoin/blob/mastedoc/descriptors.md) documentation has been updated with information about new features in this still-developing language for describing the output scripts that a wallet or other program wants to receive notifications for, such as which addresses it wants to know received payments. The language is currently used in multiple new and updated RPCs described in these release notes and is expected to be adapted to other RPCs and to the underlying wallet structure.
A new --disable-bip70 option may be passed to ./configure to prevent Groestlcoin-Qt from being built with support for the BIP70 payment protocol or from linking libssl. As the payment protocol has exposed Groestlcoin Core to libssl vulnerabilities in the past, builders who don't need BIP70 support are encouraged to use this option to reduce their exposure to future vulnerabilities.
The minimum required version of Qt (when building the GUI) has been increased from 5.2 to 5.5.1 (the depends system provides 5.9.7)
getnodeaddresses returns peer addresses known to this node. It may be used to find nodes to connect to without using a DNS seeder.
listwalletdir returns a list of wallets in the wallet directory (either the default wallet directory or the directory configured bythe -walletdir parameter).
getrpcinfo returns runtime details of the RPC server. Currently, it returns an array of the currently active commands and how long they've been running.
deriveaddresses returns one or more addresses corresponding to an output descriptor.
getdescriptorinfo accepts a descriptor and returns information aboutit, including its computed checksum.
joinpsbts merges multiple distinct PSBTs into a single PSBT. The multiple PSBTs must have different inputs. The resulting PSBT will contain every input and output from all the PSBTs. Any signatures provided in any of the PSBTs will be dropped.
analyzepsbt examines a PSBT and provides information about what the PSBT contains and the next steps that need to be taken in order to complete the transaction. For each input of a PSBT, analyze psbt provides information about what information is missing for that input, including whether a UTXO needs to be provided, what pubkeys still need to be provided, which scripts need to be provided, and what signatures are still needed. Every input will also list which role is needed to complete that input, and analyzepsbt will also list the next role in general needed to complete the PSBT. analyzepsbt will also provide the estimated fee rate and estimated virtual size of the completed transaction if it has enough information to do so.
utxoupdatepsbt searches the set of Unspent Transaction Outputs (UTXOs) to find the outputs being spent by the partial transaction. PSBTs need to have the UTXOs being spent to be provided because the signing algorithm requires information from the UTXO being spent. For segwit inputs, only the UTXO itself is necessary. For non-segwit outputs, the entire previous transaction is needed so that signers can be sure that they are signing the correct thing. Unfortunately, because the UTXO set only contains UTXOs and not full transactions, utxoupdatepsbt will only add the UTXO for segwit inputs.
getpeerinfo now returns an additional minfeefilter field set to the peer's BIP133 fee filter. You can use this to detect that you have peers that are willing to accept transactions below the default minimum relay fee.
The mempool RPCs, such as getrawmempool with verbose=true, now return an additional "bip125-replaceable" value indicating whether thetransaction (or its unconfirmed ancestors) opts-in to asking nodes and miners to replace it with a higher-feerate transaction spending any of the same inputs.
settxfee previously silently ignored attempts to set the fee below the allowed minimums. It now prints a warning. The special value of"0" may still be used to request the minimum value.
getaddressinfo now provides an ischange field indicating whether the wallet used the address in a change output.
importmulti has been updated to support P2WSH, P2WPKH, P2SH-P2WPKH, and P2SH-P2WSH. Requests for P2WSH and P2SH-P2WSH accept an additional witnessscript parameter.
importmulti now returns an additional warnings field for each request with an array of strings explaining when fields are being ignored or are inconsistent, if there are any.
getaddressinfo now returns an additional solvable Boolean field when Groestlcoin Core knows enough about the address's scriptPubKey, optional redeemScript, and optional witnessScript for the wallet to be able to generate an unsigned input spending funds sent to that address.
The getaddressinfo, listunspent, and scantxoutset RPCs now return an additional desc field that contains an output descriptor containing all key paths and signing information for the address (except for the private key). The desc field is only returned for getaddressinfo and listunspent when the address is solvable.
importprivkey will preserve previously-set labels for addresses or public keys corresponding to the private key being imported. For example, if you imported a watch-only address with the label "coldwallet" in earlier releases of Groestlcoin Core, subsequently importing the private key would default to resetting the address's label to the default empty-string label (""). In this release, the previous label of "cold wallet" will be retained. If you optionally specify any label besides the default when calling importprivkey, the new label will be applied to the address.
getmininginfo now omits currentblockweight and currentblocktx when a block was never assembled via RPC on this node.
The getrawtransaction RPC & REST endpoints no longer check the unspent UTXO set for a transaction. The remaining behaviors are as follows:
If a blockhash is provided, check the corresponding block.
If no blockhash is provided, check the mempool.
If no blockhash is provided but txindex is enabled, also check txindex.
unloadwallet is now synchronous, meaning it will not return until the wallet is fully unloaded.
importmulti now supports importing of addresses from descriptors. A desc parameter can be provided instead of the "scriptPubKey" in are quest, as well as an optional range for ranged descriptors to specify the start and end of the range to import. Descriptors with key origin information imported through importmulti will have their key origin information stored in the wallet for use with creating PSBTs.
listunspent has been modified so that it also returns witnessScript, the witness script in the case of a P2WSH orP2SH-P2WSH output.
createwallet now has an optional blank argument that can be used to create a blank wallet. Blank wallets do not have any keys or HDseed. They cannot be opened in software older than 2.18.2. Once a blank wallet has a HD seed set (by using sethdseed) or private keys, scripts, addresses, and other watch only things have been imported, the wallet is no longer blank and can be opened in 2.17.2. Encrypting a blank wallet will also set a HD seed for it.
signrawtransaction is removed after being deprecated and hidden behind a special configuration option in version 2.17.2.
The 'account' API is removed after being deprecated in v2.17.2 The 'label' API was introduced in v2.17.2 as a replacement for accounts. See the release notes from v2.17.2 for a full description of the changes from the 'account' API to the 'label' API.
addwitnessaddress is removed after being deprecated in version 2.16.0.
generate is deprecated and will be fully removed in a subsequent major version. This RPC is only used for testing, but its implementation reached across multiple subsystems (wallet and mining), so it is being deprecated to simplify the wallet-node interface. Projects that are using generate for testing purposes should transition to using the generatetoaddress RPC, which does not require or use the wallet component. Calling generatetoaddress with an address returned by the getnewaddress RPC gives the same functionality as the old generate RPC. To continue using generate in this version, restart groestlcoind with the -deprecatedrpc=generate configuration option.
Be reminded that parts of the validateaddress command have been deprecated and moved to getaddressinfo. The following deprecated fields have moved to getaddressinfo: ismine, iswatchonly,script, hex, pubkeys, sigsrequired, pubkey, embedded,iscompressed, label, timestamp, hdkeypath, hdmasterkeyid.
The addresses field has been removed from the validateaddressand getaddressinfo RPC methods. This field was confusing since it referred to public keys using their P2PKH address. Clients should use the embedded.address field for P2SH or P2WSH wrapped addresses, and pubkeys for inspecting multisig participants.
A new /rest/blockhashbyheight/ endpoint is added for fetching the hash of the block in the current best blockchain based on its height (how many blocks it is after the Genesis Block).
A new Window menu is added alongside the existing File, Settings, and Help menus. Several items from the other menus that opened new windows have been moved to this new Window menu.
In the Send tab, the checkbox for "pay only the required fee" has been removed. Instead, the user can simply decrease the value in the Custom Fee rate field all the way down to the node's configured minimumrelay fee.
In the Overview tab, the watch-only balance will be the only balance shown if the wallet was created using the createwallet RPC and thedisable_private_keys parameter was set to true.
The launch-on-startup option is no longer available on macOS if compiled with macosx min version greater than 10.11 (useCXXFLAGS="-mmacosx-version-min=10.11" CFLAGS="-mmacosx-version-min=10.11" for setting the deployment sdkversion)
A new groestlcoin-wallet tool is now distributed alongside Groestlcoin Core's other executables. Without needing to use any RPCs, this tool can currently create a new wallet file or display some basic information about an existing wallet, such as whether the wallet is encrypted, whether it uses an HD seed, how many transactions it contains, and how many address book entries it has.
Since version 2.16.0, Groestlcoin Core's built-in wallet has defaulted to generating P2SH-wrapped segwit addresses when users want to receive payments. These addresses are backwards compatible with all widely used software. Starting with Groestlcoin Core 2.20.1 (expected about a year after 2.18.2), Groestlcoin Core will default to native segwitaddresses (bech32) that provide additional fee savings and other benefits. Currently, many wallets and services already support sending to bech32 addresses, and if the Groestlcoin Core project sees enough additional adoption, it will instead default to bech32 receiving addresses in Groestlcoin Core 2.19.1. P2SH-wrapped segwit addresses will continue to be provided if the user requests them in the GUI or by RPC, and anyone who doesn't want the update will be able to configure their default address type. (Similarly, pioneering users who want to change their default now may set the addresstype=bech32 configuration option in any Groestlcoin Core release from 2.16.0 up.)
BIP 61 reject messages are now deprecated. Reject messages have no use case on the P2P network and are only logged for debugging by most network nodes. Furthermore, they increase bandwidth and can be harmful for privacy and security. It has been possible to disable BIP 61 messages since v2.17.2 with the -enablebip61=0 option. BIP 61 messages will be disabled by default in a future version, before being removed entirely.
The submitblock RPC previously returned the reason a rejected block was invalid the first time it processed that block but returned a generic "duplicate" rejection message on subsequent occasions it processed the same block. It now always returns the fundamental reason for rejecting an invalid block and only returns "duplicate" for valid blocks it has already accepted.
A new submitheader RPC allows submitting block headers independently from their block. This is likely only useful for testing.
The signrawtransactionwithkey and signrawtransactionwithwallet RPCs have been modified so that they also optionally accept a witnessScript, the witness script in the case of a P2WSH orP2SH-P2WSH output. This is compatible with the change to listunspent.
For the walletprocesspsbt and walletcreatefundedpsbt RPCs, if thebip32derivs parameter is set to true but the key metadata for a public key has not been updated yet, then that key will have a derivation path as if it were just an independent key (i.e. no derivation path and its master fingerprint is itself).
The -usehd configuration option was removed in version 2.16.0 From that version onwards, all new wallets created are hierarchical deterministic wallets. This release makes specifying -usehd an invalid configuration option.
This release allows peers that your node automatically disconnected for misbehaviour (e.g. sending invalid data) to reconnect to your node if you have unused incoming connection slots. If your slots fill up, a misbehaving node will be disconnected to make room for nodes without a history of problems (unless the misbehaving node helps your node in some other way, such as by connecting to a part of the Internet from which you don't have many other peers). Previously, Groestlcoin Core banned the IP addresses of misbehaving peers for a period (default of 1 day); this was easily circumvented by attackers with multiple IP addresses. If you manually ban a peer, such as by using the setban RPC, all connections from that peer will still be rejected.
The key metadata will need to be upgraded the first time that the HDseed is available. For unencrypted wallets this will occur on wallet loading. For encrypted wallets this will occur the first time the wallet is unlocked.
Newly encrypted wallets will no longer require restarting the software. Instead such wallets will be completely unloaded and reloaded to achieve the same effect.
A sub-project of Bitcoin Core now provides Hardware Wallet Interaction (HWI) scripts that allow command-line users to use several popular hardware key management devices with Groestlcoin Core. See their project page for details.
This release changes the Random Number Generator (RNG) used from OpenSSL to Groestlcoin Core's own implementation, although entropy gathered by Groestlcoin Core is fed out to OpenSSL and then read back in when the program needs strong randomness. This moves Groestlcoin Core a little closer to no longer needing to depend on OpenSSL, a dependency that has caused security issues in the past. The new implementation gathers entropy from multiple sources, including from hardware supporting the rdseed CPU instruction.
On macOS, Groestlcoin Core now opts out of application CPU throttling ("app nap") during initial blockchain download, when catching up from over 100 blocks behind the current chain tip, or when reindexing chain data. This helps prevent these operations from taking an excessively long time because the operating system is attempting to conserve power.
How to Upgrade?
Windows If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer. OSX If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), run the dmg and drag Groestlcoin Core to Applications. Ubuntu http://groestlcoin.org/forum/index.php?topic=441.0
ALL NEW - Groestlcoin Moonshine iOS/Android Wallet
Built with React Native, Moonshine utilizes Electrum-GRS's JSON-RPC methods to interact with the Groestlcoin network. GRS Moonshine's intended use is as a hot wallet. Meaning, your keys are only as safe as the device you install this wallet on. As with any hot wallet, please ensure that you keep only a small, responsible amount of Groestlcoin on it at any given time.
Groestlcoin Mainnet & Testnet supported
Multiple wallet support
Electrum - Support for both random and custom peers
Biometric + Pin authentication
Custom fee selection
Import mnemonic phrases via manual entry or scanning
BIP39 Passphrase functionality
Support for Segwit-compatible & legacy addresses in settings
Support individual private key sweeping
UTXO blacklisting - Accessible via the Transaction Detail view, this allows users to blacklist any utxo that they do not wish to include in their list of available utxo's when sending transactions. Blacklisting a utxo excludes its amount from the wallet's total balance.
Ability to Sign & Verify Messages
Support BitID for password-free authentication
Coin Control - This can be accessed from the Send Transaction view and basically allows users to select from a list of available UTXO's to include in their transaction.
HODL GRS connects directly to the Groestlcoin network using SPV mode and doesn't rely on servers that can be hacked or disabled. HODL GRS utilizes AES hardware encryption, app sandboxing, and the latest security features to protect users from malware, browser security holes, and even physical theft. Private keys are stored only in the secure enclave of the user's phone, inaccessible to anyone other than the user. Simplicity and ease-of-use is the core design principle of HODL GRS. A simple recovery phrase (which we call a Backup Recovery Key) is all that is needed to restore the user's wallet if they ever lose or replace their device. HODL GRS is deterministic, which means the user's balance and transaction history can be recovered just from the backup recovery key.
Simplified payment verification for fast mobile performance
Groestlcoin Seed Savior is a tool for recovering BIP39 seed phrases. This tool is meant to help users with recovering a slightly incorrect Groestlcoin mnemonic phrase (AKA backup or seed). You can enter an existing BIP39 mnemonic and get derived addresses in various formats. To find out if one of the suggested addresses is the right one, you can click on the suggested address to check the address' transaction history on a block explorer.
If a word is wrong, the tool will try to suggest the closest option.
If a word is missing or unknown, please type "?" instead and the tool will find all relevant options.
NOTE: NVidia GPU or any CPU only. AMD graphics cards will not work with this address generator. VanitySearch is a command-line Segwit-capable vanity Groestlcoin address generator. Add unique flair when you tell people to send Groestlcoin. Alternatively, VanitySearch can be used to generate random addresses offline. If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then VanitySearch is the right choice for you to create a more personalized address. VanitySearch is a groestlcoin address prefix finder. If you want to generate safe private keys, use the -s option to enter your passphrase which will be used for generating a base key as for BIP38 standard (VanitySearch.exe -s "My PassPhrase" FXPref). You can also use VanitySearch.exe -ps "My PassPhrase" which will add a crypto secure seed to your passphrase. VanitySearch may not compute a good grid size for your GPU, so try different values using -g option in order to get the best performances. If you want to use GPUs and CPUs together, you may have best performances by keeping one CPU core for handling GPU(s)/CPU exchanges (use -t option to set the number of CPU threads).
Fixed size arithmetic
Fast Modular Inversion (Delayed Right Shift 62 bits)
SecpK1 Fast modular multiplication (2 steps folding 512bits to 256bits using 64 bits digits)
Use some properties of elliptic curve to generate more keys
SSE Secure Hash Algorithm SHA256 and RIPEMD160 (CPU)
Groestlcoin EasyVanity 2020 is a windows app built from the ground-up and makes it easier than ever before to create your very own bespoke bech32 address(es) when whilst not connected to the internet. If you're tired of the random, cryptic bech32 addresses generated by regular Groestlcoin clients, then Groestlcoin EasyVanity2020 is the right choice for you to create a more personalised bech32 address. This 2020 version uses the new VanitySearch to generate not only legacy addresses (F prefix) but also Bech32 addresses (grs1 prefix).
Ability to continue finding keys after first one is found
Includes warning on start-up if connected to the internet
Ability to output keys to a text file (And shows button to open that directory)
Show and hide the private key with a simple toggle switch
Show full output of commands
Ability to choose between Processor (CPU) and Graphics Card (GPU) ( NVidia ONLY! )
Features both a Light and Dark Material Design-Style Themes
Free software - MIT. Anyone can audit the code.
Written in C# - The code is short, and easy to review.
Groestlcoin WPF is an alternative full node client with optional lightweight 'thin-client' mode based on WPF. Windows Presentation Foundation (WPF) is one of Microsoft's latest approaches to a GUI framework, used with the .NET framework. Its main advantages over the original Groestlcoin client include support for exporting blockchain.dat and including a lite wallet mode. This wallet was previously deprecated but has been brought back to life with modern standards.
Works via TOR or SOCKS5 proxy
Can use bootstrap.dat format as blockchain database
Import/Export blockchain to/from bootstrap.dat
Import wallet.dat from Groestlcoin-qt wallet
Export wallet to wallet.dat
Use both groestlcoin-wpf and groestlcoin-qt with the same addresses in parallel. When you send money from one program, the transaction will automatically be visible on the other wallet.
Rescan blockchain with a simple mouse click
Works as a full node and listens to port 1331 (listening port can be changed)
Fast Block verifying, parallel processing on multi-core CPUs
Mine Groestlcoins with your CPU by a simple mouse click
All private keys are kept encrypted on your local machine (or on a USB stick)
Lite - Has a lightweight "thin client" mode which does not require a new user to download the entire Groestlcoin chain and store it
Free and decentralised - Open Source under GNU license
Fixed Import/Export to wallet.dat
Rescan wallet option
Change wallet password option
Address type and Change type options through *.conf file
Import from bootstrap.dat - It is a flat, binary file containing Groestlcoin blockchain data, from the genesis block through a recent height. All versions automatically validate and import the file "grs.bootstrap.dat" in the GRS directory. Grs.bootstrap.dat is compatible with Qt wallet. GroestlCoin-Qt can load from it.
In Full mode file %APPDATA%\Groestlcoin-WPF\GRS\GRS.bootstrap.dat is full blockchain in standard bootstrap.dat format and can be used with other clients.
Groestlcoin Electrum Personal Server aims to make using Electrum Groestlcoin wallet more secure and more private. It makes it easy to connect your Electrum-GRS wallet to your own full node. It is an implementation of the Electrum-grs server protocol which fulfils the specific need of using the Electrum-grs wallet backed by a full node, but without the heavyweight server backend, for a single user. It allows the user to benefit from all Groestlcoin Core's resource-saving features like pruning, blocks only and disabled txindex. All Electrum-GRS's feature-richness like hardware wallet integration, multi-signature wallets, offline signing, seed recovery phrases, coin control and so on can still be used, but connected only to the user's own full node. Full node wallets are important in Groestlcoin because they are a big part of what makes the system be trust-less. No longer do people have to trust a financial institution like a bank or PayPal, they can run software on their own computers. If Groestlcoin is digital gold, then a full node wallet is your own personal goldsmith who checks for you that received payments are genuine. Full node wallets are also important for privacy. Using Electrum-GRS under default configuration requires it to send (hashes of) all your Groestlcoin addresses to some server. That server can then easily spy on your transactions. Full node wallets like Groestlcoin Electrum Personal Server would download the entire blockchain and scan it for the user's own addresses, and therefore don't reveal to anyone else which Groestlcoin addresses they are interested in. Groestlcoin Electrum Personal Server can also broadcast transactions through Tor which improves privacy by resisting traffic analysis for broadcasted transactions which can link the IP address of the user to the transaction. If enabled this would happen transparently whenever the user simply clicks "Send" on a transaction in Electrum-grs wallet. Note: Currently Groestlcoin Electrum Personal Server can only accept one connection at a time.
Use your own node
Uses less CPU and RAM than ElectrumX
Used intermittently rather than needing to be always-on
Doesn't require an index of every Groestlcoin address ever used like on ElectrumX
UPDATED – Android Wallet 7.38.1 - Main Net + Test Net
The app allows you to send and receive Groestlcoin on your device using QR codes and URI links. When using this app, please back up your wallet and email them to yourself! This will save your wallet in a password protected file. Then your coins can be retrieved even if you lose your phone.
Add confidence messages, helping users to understand the confidence state of their payments.
Handle edge case when restoring via an external app.
Count devices with a memory class of 128 MB as low ram.
Introduce dark mode on Android 10 devices.
Reduce memory usage of PIN-protected wallets.
Tapping on the app's version will reveal a checksum of the APK that was installed.
Fix issue with confirmation of transactions that empty your wallet.
Groestlcoin Sentinel is a great solution for anyone who wants the convenience and utility of a hot wallet for receiving payments directly into their cold storage (or hardware wallets). Sentinel accepts XPUB's, YPUB'S, ZPUB's and individual Groestlcoin address. Once added you will be able to view balances, view transactions, and (in the case of XPUB's, YPUB's and ZPUB's) deterministically generate addresses for that wallet. Groestlcoin Sentinel is a fork of Groestlcoin Samourai Wallet with all spending and transaction building code removed.
As the Bitcoin hash rate reaches new all-time highs, there’s never been a better time to discuss blockchain security and its relation to the hashing power and the Proof of Work (PoW) that feed the network. The Bitcoin system is based on a form of decentralized trust, heavily relying on cryptography. This makes its blockchain highly secure and able to be used for financial transactions and other operations requiring a trustless ledger. Far from popular belief, cryptography dates back to thousands of years ago. The same root of the word encryption — crypt — comes from the Greek word ‘kryptos’, meaning hidden or secret. Indeed, humans have always wanted to keep some information private. The Assyrians, the Chinese, the Romans, and the Greeks, they all tried over the centuries to conceal some information like trade deals or manufacturing secrets by using symbols or ciphers carved in stone or leather. In 1900 BC, Egyptians used hieroglyphics and experts often refer to them as the first example of cryptography. Back to our days, Bitcoin uses cryptographic technologies such as:
Cryptographic hash functions (i.e. SHA-256 and RIPEMD-160)
Public Key Cryptography (i.e. ECDSA — the Elliptic Curve Digital Signature Algorithm)
While Public Key Cryptography, bitcoin addresses, and digital signatures are used to provide ownership of bitcoins, the SHA-256 hash function is used to verify data and block integrity and to establish the chronological order of the blockchain. A cryptographic hash function is a mathematical function that verifies the integrity of data by transforming it into a unique unidentifiable code. Here is a graphic example to make things more clear: – Extract from the MOOC (Massive Open Online Course) in Digital Currencies at the University of Nicosia. Furthermore, hash functions are used as part of the PoW algorithm, which is a prominent part of the Bitcoin mining algorithm and this is what is of more interest to understand the security of the network. Mining creates new bitcoins in each block, almost like a central bank printing new money and creates trust by ensuring that transactions are confirmed only when enough computational power is devoted to the block that contains them. More blocks mean more computation, which means more trust. With PoW, miners compete against each other to complete transactions on the network and get rewarded. Basically they need to solve a complicated mathematical puzzle and a possibility to easily prove the solution. The more hashing power, the higher the chance to resolve the puzzle and therefore perform the proof of work. In more simple words, bitcoins exist thanks to a peer to peer network that helps validate transactions in the ledger and provides enough trust to avoid that a third party is involved in the process. It also exists because miners give it life by resolving that computational puzzle, through the mining reward incentive they are receiving. For more info, contactBlock.codirectly or email at [email protected]. Tel +357 70007828 Get the latest from Block.co, like and follow us on social media: ✔️Facebook ✔️LinkedIn ✔️Twitter ✔️YouTube ✔️Medium ✔️Instagram ✔️Telegram ✔️Reddit ✔️GitHub
Well, it’s supposed to be an optimistic article about most promising mining cryptos, but then something happened. No one was too naive to believe that the events unfolded around the COVID-19 pandemic will not affect global markets, but the turbulence that occurred was very significant and, what is most sad, it is still very difficult to say how soon the situation will stabilize. https://preview.redd.it/9xxheofluzp41.png?width=1024&format=png&auto=webp&s=cd8ca033faddf57ea041e82ceadee1037b8587f1 Many people were already bothered that crypto mining is becoming less profitable in 2020 and will be meaningless very soon, but even though big companies having bigger resources took over most of the industry, cryptocurrency mining using video cards remains available to common users and still has potential. Despite, the volatility of the cryptocurrency market hashrate of the Bitcoin blockchain network yet remains almost at the same level and that is a quite positive sign. At the moment, the most reliable option seems to be to leave mining to large ASIC-farms and return when the stock panic subsides and the prospects will be clearer. Although Bitcoin is still the most popular cryptocurrency on the market, every year the complexity of operations necessary for its production increases, and rewards fall (after halving in May 2020, we will talk about 6.25 BTC per block). For mining many altcoins, the threshold for entry is much lower, therefore it makes sense to look for a more profitable option among them. But first, let’s try to understand a little what conditions we need for profitable mining. There are several crucial aspects that determine how profitable mining will be. These are such obvious things as the price of the currency or the amount of reward for the generated block. And this is the reason it is now very difficult to calculate the possible income. One way or another, the market price of altcoins depends on the position of bitcoin, which is experiencing bad times. For several months, the world of crypto mining has been preparing for the May halving, because the reduced supply led to a significant increase in prices. This time should not have been an exception, but now when bitcoin does not rise above $5500 and risks falling below $3500, we can only make vague guesses about its potential price in May. Many analysts tend to believe that closer to the middle of April, the negative effect of the crisis should be reduced, and positive expectations from halving and a large amount of cash from investors should have a positive impact on the price of bitcoin. Altcoins, as a rule, repeat the dynamics of the first cryptocurrency and will also continue their growth to historical highs in the year’s future. Next, you should also pay attention to the complexity of mining because it affects the time and energy spent on generating the block. Do not forget about the cost of electricity in your region, as one extra-large bill can negate all your efforts to earn money on currency mining. Do not forget about expenses on a mining rig and it’s amortisation. In addition to the above, you should find out how practical the chosen currency is: whether it can be exchanged for fiat or more popular coins, what fees are charged by exchanges that work with it, and what reputation it has in general. In order to avoid unpleasant mistakes, it is easier and more reliable to check the possible profit in one of the many calculators.
Best altcoins to mine in 2020
Monero is the currency with the highest anonymity rates, which stays attractive to many users and remains one of the strongest altcoins. The specific proof-of-work hashing algorithm does not allow ASIC-miners, so it is relatively easy to mine using personal computer’s processors and graphics cards. AMD graphic cards are preferable for this task, but NVidia suits as well. The current block reward is 2.47 XMR. Litecoin is one of the oldest Bitcoin forks, but unlike it uses a different “Script” PoW algorithm which allows less powerful GPUs to mine coins. Litecoin is on the most popular, and successful Bitcoin forks and considered one of the most stable cryptocurrencies. Block mining reward is 12.5 LTC. Ravencoin is another Bitcoin hardfork, and like Monero’s its X16R algorithm is practically unavailable for ASIC machines. Raven keeps gaining popularity for many reasons – it has faster block time, higher mining reward (5,000 RVN at the moment) and secure messaging system. Dogecoin is not a joke anymore. Hard to believe, but this currency once made for fun, became one of the most valuable ones. Like Litecoin it uses Scrypt algorithm and great for mining with GPUs. One more Bitcoin fork Bitcoin Gold was made specifically to kick out ASICs and clear the road for GPUs. It may not be the fastest-growing currency, but it is definitely one of the most stable. That’s all for today. Stay safe, cause health is our most important asset. Follow us onMedium,Twitter,Facebook, andRedditto getStealthEX.ioupdates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
Ethereum is the most famous and largest altcoin, attracting the attention of not only experienced traders, but also cryptocurrency community novice users. All of them are interested in how much Ethereum will cost in 2020? Many people remember how in 2017 the coin grew more than 40 times, but this record was followed by a natural rollback in value. ETH Features at a Glance This blockchain platform is quite popular, so the forecast of the Ethereum exchange rate is a popular topic in the market. Moreover, the network has a relatively low transaction speed. At the end of 2017, a large decentralized application CryptoKitties appeared, which loaded Ethereum with a critical number of transactions (the network almost stopped working). Until now, one of the problems of the cryptocurrency network is its scalability - even Vitaly Buterin himself speaks about this. The main technological features of the project include: · Proof-of-stake mechanism · sharding protocol; · Plasma protocol. Each cryptocurrency platform has a consensus mechanism that determines how transactions are verified. ETH uses the same model as BTC - Proof-of-stake. It creates a complex puzzle, and the solution requires great power. Having the right equipment, the user can connect to the network and solve puzzles (mining). Cryptocurrency is given as a reward. Ethereum sharding is a protocol for changing a transaction verification process. Each node supporting the blockchain confirms a separate transaction. A node is a device connected to a network to implement an asset transfer confirmation. At the moment, there are more than 16 thousand individual nodes in the ETH network. The essence of sharding is that it groups nodes. Each group is a shard working with different parts of a transaction. This approach improves the efficiency of verification and confirmation of transfers, increasing the maximum number of transactions per second. Plasma is a protocol for removing excess data from the main blockchain in order to free up space. When creating a new smart contract, it enters the network automatically. Even unfinished contracts fill the blockchain, which creates extra time delays. The Plasma protocol creates an additional layer on the core network used for unfinished smart contracts. When the smart contract is completed, it is sent to the main blockchain. Buterin recently announced that he is looking for ways to implement sharding and the Plasma protocol in the near future, that will solve the scalability of the network and achieve speeds of thousands of transactions per second. The prospects for Ethereum in 2020 are highly dependent on the plans implementation. If everything is done, the course and capitalization will rush up. Follow ETH forecasts on our website so you don’t miss important events. Ethereum situation at the end of 2019 There are still few forecasts for the Ethereum price in 2020, since analysts are interested in the current situation - what will happen to the coin before the end of the year? According to the Coin Metrics portal, the average daily commission for transfers of coins on the ETH network exceeds this figure for Bitcoin. This suggests that the demand for Buterin’s network is very high today. As a means of transferring money, Ethereum is very popular. A new record was set by the consumption of GAS on the network per day, which suggests that users conduct more complex operations, create new smart contracts and consume more GAS. Over the past six months, the hash rate has been rising. Now it reaches 190T, that is, miners are positive and believe in a favorable forecast for the Ethereum exchange rate by the end of the year. As of the end of October 2019, the value of the coin is $ 186 with a capitalization of $ 20.1 billion and a daily trading volume of $ 9.7 billion. Many expect an update to Ethereum 2.0, which is due to take place in early January 2020. Ethereum 2.0 is a large-scale computer that will turn the network into a decentralized blockchain platform with support for thousands of transactions per second. They will be processed very cheaply, so token transfer fees will decrease. Electricity costs will also be reduced, which are now quite high due to the Proof of Work mining algorithm. At the moment, ETH mining requires asics or powerful graphics cards, and after updating Ethereum 2.0, the blockchain will switch to Proof-of-Stake. This algorithm does not require the use of equipment and electricity. Only a wallet with coins is needed. The larger their stock, the greater the owner’s earnings. At the moment, several popular stablecoins operate on the Ethereum blockchain, including: · Tether (USDT) · Dai (DAI) · Gemini Dollar (GUSD) · Paxos Standard (PAX) · TrueUSD (TUSD) · USD Coin (USDC) Their total capitalization exceeds $ 3 billion, most of which is owned by USDT. If the creation of stablecoins on Ethereum is allowed at the legislative level, the coin will definitely develop, and very actively. Ethereum Growth Background Everyone is interested in the Ethereum forecast for 2020, as this coin has high volatility. Cost greatly depends on many factors, namely:
Speculative fraud. Investors should always control the situation and buy up coins when the rate drops, and then not be greedy and sell them when they increase by 10-15%.
Technology development. Increasing the speed of transactions and attracting the largest companies will increase the capitalization and exchange rate.
Economic forces. These include the popularization of virtual coins.
Country Policy. The attitude of government bodies towards cryptocurrencies in general.
At the moment, the main prerequisite for growth, which will give the coin great prospects, is the introduction of Ethereum 2.0. Ethereum Forecast for 2020 Popular cryptanalyst Bobby Ullery predicts the Ethereum exchange rate for 2020, expecting an increase in the market capitalization of the coin to a trillion dollars. ETH, according to the analyst, will take ¼ part of the cryptocurrency market. He came to such bold conclusions after studying the situation. The issue of coins is not limited by anything, and based on Ullery’s forecast, the rate should rise several times and exceed 10-11 thousand dollars per token. Analysts at Long Forecast are also very optimistic. They make a forecast for the ETH exchange rate, according to which coins will cost about 720 dollars at the beginning of the year. Subsequently, before the summer, the price should decline and fluctuate within 470-670 dollars. Accordingly, starting from current values, the price of Ethereum will rise 3-4 times. Specialists from the CoinKr portal also engaged in the technical analysis of cryptocurrency. Their data suggests that in early 2020, Ethereum should cost more than $ 700, and by the end of the year it will rise to $ 1,500. In general, experts' forecasts are optimistic, and several conclusions can be made based on other analytical reviews: · The cost of the coin depends significantly on whether the developers will be able to implement the promised technical innovations, implement the Plasma and Sharding protocols. · The popularity of a coin depends on the frequency and effectiveness of smart contracts. · Increased demand for other coins is driving the rise in ETH. Should you buy Ethereum Today? There are many unpredictable turns in the world of cryptocurrencies, so it’s difficult to definitely talk about buying coins. Now the situation has stabilized, but at any moment everything can turn in the other direction. At the moment, the price of ETH is $ 150, so it is better to wait for a small pullback to the level of $ 123-130 and buy, waiting for the introduction of technical innovations in early January.
Welcome All to the GPUMining Crash Course! With the increase in prices in cryptocurrency, a lot of people are getting back into mining and a lot of people are brand new to the concept overall. So, I quickly wrote this crash course to help you understand what to expect and how to successfully mine your first cryptocurrency. This crash course isn't gonna have all of the fluff you'd see in a normal publication. This is just everything you need to know to get up and running on your first cryptocurrency mining rig.
What is cryptocurrency mining?
One of the main things about cryptocurrencies is that they are "decentralized". Sounds great, but WTF does that even mean? Well, the easiest way to explain it is... You know how if you want to send your friend/family money digitally, you can do so through your bank. Your bank likely takes a transaction fee and in a few days they will transfer the money. Since cryptocurrencies are decentralized, they don't have a bank or organization to fulfill the transfer of money. Instead, they outsource the computing power of their cryptocurrency network to miners (soon to be you). These miners are verifying transactions, securing the blockchain, and powering the cryptocurrency's specific network among other things. As an incentive, the miners collect transaction fees on the transactions that they verify and collect block rewards while new currency is still being introduced into the ecosystem.
What kind of rig should I build?
You can mine cryptocurrencies using your CPU, GPU, FPGA, or ASIC, but this is a GPU Mining subreddit, so I will cater this to GPUs. For building a great all-around GPU rig, there are two models of GPUs that I'd recommend:
Both of these GPUs have solid hashrates across most mining algorithms and for a decent price! You should be able to find both of these kinds of GPUs used for around $200-$250 each, which is a great price if you know what happened during the last mining craze! ($200 GPUs were out of stock everywhere and people were reselling them for $600+ each) There are also plenty of great AMD GPUs for mining, but I've worked mostly with Nvidia so that's why both of my recommendations are Nvidia and not AMD. Other parts to your rig that you'll need are listed below. Most of these can be pieces of crap and are just needed to make the rig actually run, but the one spot you DON'T want to cheap out on is the power supply unit. A decent power supply unit will keep your home from burning down while also keeping your rigs up and running smoothly. Here are my recommendations:
Motherboard - This Motherboard can hold up to 6 GPUs (considered a full rig) with the use of risers. It is decently priced and will fit nearly any mining rig upgrades that you make in the future.
CPU - You really just need the most basic CPU you can find, it's not very essential to mining unless you're CPU mining, but even then... CPU mining isn't very profitable for how expensive CPUs can be.
RAM - All you really need is about 4GB to keep this thing running. If you want more, go for it, but it's not neccessary in most cases.
Power Switch - Doesn't need to be fancy, just needs to turn the thing on and off
PowerSupply - Don't cheap out here! Pay for a quality PSU and save yourself the headache and be safe with a solid PSU. Get a GOLD quality PSU at a MINIMUM! Platinum is good too, but probably unnecessary. The linked 1300w PSU will support most 6 GPU rigs, if you're going for higher tier GPUs like a 1080ti and above or if you're having more than 6 GPUs on a single rig then you'll need something stronger.
GPU Risers - I use this kind. They work and they're not shitty. They do require 6pin for power. Use a Molex converter if needed, but going 6pin directly from your PSU is best. Your 8+6pin will probably be a little bit short, so you'll need some 6pin extenders. EVGA will sell them you for a few bucks each, but you have to call as they're not listed on the site. DON'T YOU DARE THINK OF USING A SATA CONNECTION UNLESS YOU WANT YOUR ENTIRE MINING OPERATION TO BURN DOWN AND TAKE EVERYTHING ELSE WITH IT! SATA IS NOT RATED FOR THE POWER THAT YOU NEED!!!!
Kilowatt Meter - So that you can monitor your power consumption from the wall (much more accurate than trying to calculate each piece of hardware individually). Also helps when overclocking for a higher efficiency.
120GB Solid State Drive - SSDs are pretty damn cheap now. Just get it instead of your prehistoric HDD. Also, make sure you get AT LEAST 120GB! Many of the popular cryptocurrencies like BEAM and GRIN will demand quite a bit of virtual memory, so you'll need the extra space on your SSD to compensate for that.
Something to put your rig on - This one seems to be popular, but pretty much anything will do. I literally used a shoe rack and zip ties. You just need something that will give the GPUs airflow to breathe and keep the rig organized as a whole.
Windows 10/Linux Operating System - Pretty self explanatory here. Don't go with any of the MAC OS or Apple Products. They're extremely over priced and nearly useless in the mining world.
She's built, now what?
Now you need to do a few things. I am a Windows miner, so I will be speaking to Windows here:
Update Windows - Do all of the updates. Just do it.
Update Drivers - Go to the EVGA website and download GeForce experience. It will keep your GPU drivers up to date.
Go to Windows Device Manager and make sure all of your GPUs show up under "Display Adapters". If it is there, but it isn't showing the Name/Model of the GPU as the name, right click it and select "Update Driver". This should fix it.
Assuming you've done all of this, you're ready to download a mining application.
There are tons to choose from! Claymore, Phoenix, EWBF, LolMiner, etc... It can be overwhelming pretty quickly since they all have different algorithm support, speeds, efficiencies, and a whole lot more. On top of that, in order to get them running you need to set up batch files to call the proper exe, point you to the correct pool, and a whole bunch of other stuff that can be confusing to a new user. Not to mention, you will probably need a separate miner, config file, batch file, etc. for each different algorithm that you're interested in mining on. Instead, I recommend that you download a miner management software that will take care of most of this tedious work for you. There are a few in the sidebar, but the /GPUMining favorite is AIOMiner. It was developed by our very own community member, xixspiderxix with the intention of making mining as easy as possible to do and without any fees. It supports over 100 different algorithms, so you'll be able to mine nearly ANY cryptocurrency you'd like. Just download it from their website and it will take you through a quick tutorial to help you get set up! You can also connect your rig to their website for remote monitoring and control. You've probably seen a few of their posts around this subreddit. Other Windows mining softwares include:
many more you can find from google searching
Note: Many mining softwares have fees built into them. Most are around 1%, but can go as high as 5% or greater! You want a mining software with little or no fees at all so that you get to keep as much cryptocurrency as possible. These fees aren't something you actively pay, the software will automatically take it by mining on the developers behalf for a given amount of time and then switching back to mining on your own behalf. So, please be diligent in the software that you evaluate and make sure it is reputable.
I keep hearing about NiceHash. What is that?
The asshole of the mining industry. Jk, but not really. NiceHash is a software program that allows you to sell your rig's hashing power to someone on their marketplace. They market themselves as profitable mining, but you're not really mining. You're selling your power in exchange for Bitcoin. They did a great job telling people that with them, you're always mining the most profitable coin, but that's just not true. Since it is a mining marketplace, they make you mine whatever their most expensive contract is. If their contracts are below market prices, then you're not operating as efficiently and profitably as you could be. NiceHash also has a sketchy history, which continues to this day. In 2017, they were hacked and lost $65M worth of Bitcoin. No one got paid out for MONTHS and many of their executives conveniently resigned. Their platform is also used to destroy cryptocurrencies. Since people are able to purchase mining power on their platform, people have used their platform to purchase enough mining power to control individual cryptocurrencies and duplicate coins, which increased the malicious user's wealth while completely destroying the integrity of the coin's blockchain. HoriZEN (formerly ZenCash), Ethereum Classic, and many other great cryptocurrencies have been the victim of NiceHash's platform. For this and many other reasons, we highly recommend that you stay AWAY from Nicehash. We understand that it is extremely easy to use and you get paid in bitcoin, but they are destroying the industry with their greed and lack of motivation to change their platform for the protection of cryptocurrencies.
This is pretty much everything you need to know to get started. We covered the hardware, setting up the software, which software to use, and AIOMiner's tutorial will get you up to speed on how to actually mine the cryptocurrency that you want better than I can explain it, so I'll leave that part to them. If you have any questions on this crash course, please leave a comment below where myself and other community members will be able to help you out.
Tl;dr Every block in Nano contains a small Proof-of-Work (PoW) that is used to discourage spam. When a block contains a proof with a value below the threshold, it is discarded by nodes in the network. If the proof is valid, then the block is processed.
The term PoW was coined in 1999 though the concept behind it dates from a 1993 journal article. It was initially designed to combat email spam, forcing the sender to incur a computational burden in order to have its email not be immediately rejected by servers. In theory, scaling this computation to a large number of emails (the case of spam) would be impractical. PoW was largely popularized by Bitcoin, the first decentralized cryptocurrency network. Its purpose is to prevent double-spending by having miners compete for the solution of a [nowadays] very difficult math problem that requires a large number of blind attempts to complete. There are several PoW functions available to use. For cryptocurrencies, the ones of interest can be categorized in two schemes:
CPU-bound, where faster processors (or graphics processors) can more quickly obtain the proof.
Memory-bound, where the computation speed is bound by memory latency or bandwidth, which is expected to not evolve as quickly as processor speed.
In Nano, PoW is used only to discourage spam transactions. Without it, and given the asynchronous nature of Nano’s block lattice, anyone would be able to push valid transactions to the network at a theoretically infinite rate, which would quickly saturate nodes in terms of bandwidth and other resources. As such, and as we saw in a previous Nano How, every block must contain a small proof. A commonly asked question is “Why do receive blocks require PoW?”. While the complete answer is more complex than what we intend to go on, it is discussed in detail here. Basically, it is used to discourage from creating high depth forks in the network.
How it works
The ideal proof of work is a mathematical problem that is really hard to calculate but simple to verify.
Generating PoW - To generate the PoW, the system cycles through the same calculation with slightly different numbers each time, until it gets an answer above the required threshold. This process can take millions of attempts, consuming time and resources.
Verifying - Verifying the proof is a very quick process. The value of the proof is calculated and checked against a predefined difficulty threshold. When a block contains a proof with a value below the threshold, it is discarded by nodes in the network. If the proof is valid, then the block is processed.
nonce is a random 64-bit value which is changed in order to try achieve a valid proof
threshold is predefined in Nano with the value 0xffffffc000000000.
As the equation depends on the previous block, there is the special case of the first block (open block) of any account, in which the account’s public key is used instead (read the first Nano How). While generating a proof requires, on average, 67108864 nonces to be tried (hence the same number of hashes), in order to verify a proof only a single blake2b hash is performed. This means that if it takes one second, on average, to obtain a proof, it will take 14.9 nanoseconds to verify it (assuming it doesn't take any time to start, which is a crude approximation).
Dynamic and Prioritized PoW
Up until version 18 (Dolphin) of the Nano node, all blocks were treated equally, in the sense that they were processed in a random order or in the order that they arrived. However, in cases of a large transaction rate in the network, nodes might get a great amount of blocks in their processing queue. In the upcoming version 19 (Solidus), if the network becomes congested then blocks will start to be prioritized by the value of their PoW. Essentially, this means that in the case of network congestion, anyone can have their transaction be prioritized (e.g. if it’s urgent) by computing a higher value proof. It is simple to achieve this effect, as only the threshold has to be changed (to a higher value) when generating the PoW. The intended effect with Dynamic PoW is to further discourage spamming the network. The most effective spam, currently, is pre-generating blocks and proofs, then pushing all of them to the network at the same time. In this event, the nodes in the network will quickly find that the block processing queues get saturated. By using prioritized PoW, non-attackers will still be able to transact at normal speeds by generating a larger value proof. Note that the attacker can’t change the value of their proof in this kind of spam, as they have already pre-generated all blocks and proofs. Casual users of the Nano network can spend additional time pre-computing their next PoW so that their transactions are prioritised, while larger services can use auxiliary services such as DPoW to quickly provide PoW on demand for their transactions.
Miner donations will not be implemented. I will vote No in the hashrate vote.
Jiang Zhuoer, the founder of Leibite mining pool, said in a Weibo post. It was him who first proposed the plan, and it was also him who stood up and said that he would vote against it. The taste is only known to the BCH community who has been sawing for more than a month. Planned preform All this has to start from January 22. On this day, Jiang Zhuoer also published the article "Infrastructure Funding Plan (IFP) for Bitcoin Cash" on Weibo and medium at the same time. In his opinion, the current BCH has a problem of developer operating funds, only A few companies donate to developers, and the other members are hitchhikers, which can be called a tragedy of the commons. In fact, it is not just BCH. Many early projects without 1CO lack a continuous source of funds. BTC and LTC also rely on the sustainable funding of companies and individuals to donate to developers. Regarding this, Jiang Zhuoer added at the subsequent AMA held by Reddit that a few companies continued to donate, and these companies' right to speak would increase, which might affect the development in the future, which is also a major hidden danger. So based on the consideration of stable development funds, he said that several major mining pools on BCH (BTC.TOP, Antpool, BTC.com, ViaBTC, Bitcoin.com) will implement a new donation plan that will reward BCH for block explosions. 12.5% was donated to a specially established fund to support BCH infrastructure, which aims to provide sufficient funds for BCH developers. Blocks that are unwilling to participate in this donation plan will be isolated. According to its disclosure, the donation will last 6 months and the estimated amount is about 6 million US dollars. A Hong Kong company has been set up to accept and distribute funds. At the end of the article, Jiang Zhuoer, Wu Jihan, Yang Haibo and Roger Ver were stated to be supporters of this plan. The response was extremely intense After the news came out, BCH communities at home and abroad had a heated discussion. There are mixed voices in China. Some people think that this is a great benefit to the BCH currency price. Some people think that this is a miner sacrificing part of their own interests to support infrastructure construction. It is a manifestation of the spirit of the community, but some people allege that this is a pumping behavior ... these are evident in the comments below Jiang Zhuo's blog post. The foreign community, which has gathered most of the BCH developers and core personnel, is even more dramatic. On January 23, the day after the BCH miner donation plan was issued, Amaury Séchet (@deadalnix), the chief developer of the ABC team of BCH, posted a post on read.cash , which is the platform for the donation plan. He said this plan It has been brewing for a long time. The operation of the team needs financial support, clarifying that this is not the so-called "compulsory miner tax". What's more notable is that he thinks that there is no problem as long as the endowment fund can be transparent, and even Mao has recommended himself that he and Jonald Fyookball, the chief developer of Electron Cash, a light wallet developed by BCH, are qualified to control the fund. Later, the Jonald Fyookball he mentioned also posted on read.cash , which also said that it would be beneficial to the team and miners. I have tried many measures on development funds before, but none of them worked. One will be a short six-month trial and will be upgraded in the next BCH agreement. However, the core people in the community took the lead to speak out in support of this, but it could not stop the tide of opposition afterwards. In order to fight for the miners' donation, the moderators of read.cash also created a special "Debate section"  for the community to express their opinions. On January 26, Peter Rizun, chief scientist of the Bitcoin Unlimited (BU) team, posted a post on it , explaining in detail the operation of funds in this scheme. (It is necessary to add here that the BCH network is composed of two major clients, ABC and BU, which together account for more than 95% of the 1,510 public nodes in the BCH network.) According to his article, the 12.5% block reward BCH tokens will be sent directly to the new company in Hong Kong, and the developer's operating funds will come from the funds obtained by the new company from selling these BCH tokens on the exchange. After the mining revenue decreases, the hash rate of the network will drop by about the same percentage. Since BCH accounts for about 3% of the SHA256 hash rate, and other conditions remain unchanged, the total income of SHA256 miners will fall by ~ 0.4%. The following figure graphically shows the flow of these donated tokens: In fact, the mining The merchant lost only a small part of its profits. The group of investors who ultimately bought the BCH tokens out of the Hong Kong company. In the text, Peter Rizun pointed out that this is simply the developer service tax of BCH, and corruption will arise. In addition, the Bitcoin protocol has been eleven years so far. At present, what BCH needs to do is how to make the protocol more stable. The role of developer should gradually fade away, and the continuous growth of users is the core. Peter Rizun even stated at the end of the article that the monopolistic miners are still trying to adopt such a plan, and the greed is obvious and disgusting, and the BU team will probably not accept this donation plan. On the same day, BCH developer Imaginary Username posted that he believes that the development team's funds can come directly from capital investment, sponsorship, shareholder contributions and voluntary payments by miners, rather than forcing miners to pay. c After this, a BCH crowdfunding plan named Flipstarter.cash was announced online , and proposed other fundraising schemes other than donations from miners, and emphasized that this would be a new proposal based on voluntary. In general, opponents of these donation programs acknowledge that developers need revenue and infrastructure needs to be maintained, but also said that if the final plan is passed, those who do not support this plan will be lonely and violate the blockchain. spirit. Whether the taxation in disguise causes corruption, whether it will be carried out for a long time, or whether it violates the spirit of blockchain decentralization is the focus of debate. Things are still fermenting. Subsequently, Bitcoin.com also began to counter water, thinking that there is no consensus on this plan at present, and the development team needs to be clear about their use of funds. Bitcoin.com will also adopt a more prudent attitude and will not risk the risk of chain forks To support this decision. Regenerate In the face of various oppositions, Jiang Zhuoer released a new donation plan on February 1 , stating that the issue of donation ratio is in fact questionable, and reiterated that this plan will be democratic and encourage miners to perform computing power. Vote for your opinion. This plan will only be implemented if more than two-thirds of the computing power vote in favor of the donation. On February 16, Jiang Zhuoer updated the donation plan again, which reduced the original 12.5% to 5%. However, the release of the new version did not solve the doubts in the community. In response, digital currency commentator WhalePanda tweeted that the miner's tax rate is very funny, and any block that is not donated will be blocked. This is actually a totalitarian totalitarian regime, accompanied by a 51% attack threat. On the same day on the 16th, Roger ver, the founder of the Bitcoin.com wallet, posted a YouTube video . He believed that the donation ratio was 12.5% or 5% a bit random, and said "probably because of communication problems". His donation plan supporters have his name, but in fact he and Bitcoin.com do not support the plan. In fact, aside from the question of donation ratio, it is worth considering whether this so-called hashrate voting has practical significance. According to data from BTC.com, the five mining pools of the four supporters mentioned by Jiang Zhuoer have a total BCH computing power of more than 51%, reaching 54.5%, occupying a considerable say, and it is difficult for other miners to have a real speech right. Despite the opposition of the plan, it was still proceeding methodically. On February 18, according to an official BitcoinABC tweet, the ABC team has added the code for the donation plan to the ABC version 0.21.0 client. At the same time, TobiasRuck and Antony Zegers of the ABC team, and the BCHD team have stated their support for the donation plan at this node. On the one hand, there is no consensus, and on the other hand, donations need to be opened. This self-talking attitude caused strong dissatisfaction in the community. On February 19th, Freetrader, one of the earliest developers in the BCH ecosystem, created a full node called BCH Node (BCHN) , This version will remove the donation plan, express protest, and then release the PGP signatures of the BCHN project supporters. The supporters gathered, including Alexander Levin Jr, CEO of Asicseer.com, Pokkst of Crescent Cash wallet, Tipbitcoin cash, bitcoincashj , Tubing host Collin Enstad and others. Fragmentation and unification To this point, the community split into two camps, led by the ABC team and Electron Cash wallet, BCHD, etc. to support the donation plan, and BU, BCHN, etc. formed an opposition. In fact, various disputes have already raised concerns from the domestic and foreign communities that BCH may fork again. Fragmentation, strife ... This softened Jiang Zhuoer's attitude in LongBit's online live broadcast, saying that at least basic community consensus must be reached before donations can begin. Subsequently, at the second meeting of the BCH developers, Séchet of the ABC team who initially stood up to support this plan also said loosely that there are currently differences, and miners will not ignore these opinions and go their own ways. If the community becomes better, Alternatives can also be implemented. The concessions of the Séchets became a sign of gradual strife in foreign communities. Regarding the end of the entire donation plan, it ended with a post by Jiang Zhuoer's Weibo. In the article "Talking about the differences and recent market trends of BTC, BCH, and BSV" on March 5, Jiang Zhuoer said that due to a lot of opposition from the community, especially from major BCH supporters like Roger, the donations of miners will not be implemented. . The dispute, which lasted more than a month, finally ended with the termination of the donation plan. In fact, the donation plan was updated many times, and the donation share easily changed without letting us see the basis for its formulation, as Roger ver said "somewhat randomly". And "voluntary and democratic" computing power voting, if someone finally voted No in the computing power vote can influence the result, which will also lead to thinking about computing power dictatorship.
Bitcoin and Cryptocurrencies are in reality a hyperinflationary multilevel-marketing pyramid cult of anarcho-capitalism and contradictory hypocrisy, prove me wrong/change my mind effort post itt
Reminder, Satoshi's Bitcoin and every other cryptocoin is designed to enrich a tiny minority of oligarchs who produce the supply for measurably less work/capital input than late adopters. These members form the inner circle of the cult who are than heavily incentivized to disseminate propaganda and psychological marketing tactics to the public "investors" who further spread the marketing-cult "white paper" claims like a virus in the hope that they will be able to leverage their low-effort low-capital database tokens though the smoke and mirrors and low liquidity exchanges and tape painting in order to pass their bags for real capital as all the later users buy into the dream that they too will become one of the oligarchs.
For future alpaca farmers, Sexton and Saitone laid out some of the major hallmarks of a speculative bubble, including: (1) The asset not the product is the thing being marketed (i.e. live alpacas, not fiber),
Bitcoin cult members sell users the dream of egalitarian wealth, when in reality the math and code behind Bitcoin simply created a system where existing capital is proportionally transfered into Bitcoin during the temporary hyperinflationary phase at an accelerated rate based on how early one begins to to set up server farms. Early users spent measurably less capital to generate significantly more of the supply. The Bitcoin protocol and mining algorithm is not some fancy complex math (Bitcoin mining math amounts to a lottery system, more capital gives more lottery ticket printers). Mining boils down to wasting more work and energy for less output as time passes.
(2) investors have unrealistic expectations (alpaca fiber would replace wool, despite the lack of infrastructure; and besides the fact that people don’t really wear that much wool),
(3) information is controlled through industry sources (most of the information the researchers were able to dig up was put out by breeding associations),
Even in the more reputable publications, journalists boil down the computer science into the marketing claims of what Blockchain and smart contracts cultist CLAIM it can do. These are solutions in search of problems. Blockchains are inefficenct databases, and lying about data input or stealing the deed to your house never seems to be a problem. Smart contracts need a data source to trigger, and how can data be trusted in an adveserial decenteralized network? A set of trusted "Oricales" who 'stake' their beanie babies? What's the use case for a smart contract? What happens if someone puts up a smart contract to assisinate the head of all the three letter agencies, the Queen, and the UN, and the international monitary fund?
(4) small scale investors predominate (Foster Farms did not open an alpaca plant).
The cult of bagholders think they are the kings. The underlying bitcoin/cryptocoin systems are simply a shitty anarcho-capitalist scam cult. The idealist vision behind ecash is great and all but it's a huge mistake to dismiss the side effect of further enabling a system designed for anarcho-capitalist black markets. This could easily spiral out into a long winded debate and flame war, but ill just point out that the game theory behind bitcoin favors early adopters (just some dudes who ran some software before other people.. software that can be duplicated ad infinitum ) at the expense of extracting real wealth from users who join at any later time. Bitcoiners claim Satoshi style ecash systems are a response to the 2008 financial collapse, fiat inflation, central banks etc, and yet the replacement system Satoshi designed just exacerbates the existing capital system into a measurably worse oligarchical techno-cult which embraces the enablement of lawlessness. If the claim of "trustless" and "decenteralized" is a main selling point, it's an illusion at best and manipulative propaganda at worst as there are centeral points of control within the cryptocoin ecosystems- i.e. /bitcoin censorship, anonymous developers, mining pool operators, really fucked up exchanges operating behind 7 shell companies in seychelles, the whole shitshow behind tether pulling what amounts to be fraud and theft of large sums of assorted cryptocurrencies simply because exchanges are central power hodlers and can exploit normie small fish traders (exchanges are poised to even exploit the whales) via front running and cooking the books though manipulative insider trading. There's no accountablity in the cryptocoin space - so while tradiational systems are flawed, we at least know who to blame and how to find them and hold them legally responsible. With anarcho-capital systems, we lose that option. Additionally, the production of the money supply in these specific implementations of cryptocoins are measurably worse than traditional money minting and distribution systems.
One important point: if we actually include all 7 billion people on the earth, most of whom have zero BTC or Ethereum, the Gini coefficient is essentially 0.99+. And if we just include all balances, we include many dust balances which would again put the Gini coefficient at 0.99+. Thus, we need some kind of threshold here. The imperfect threshold we picked was the Gini coefficient among accounts with ≥185 BTC per address, and ≥2477 ETH per address. So this is the distribution of ownership among the Bitcoin and Ethereum rich with $500k as of July 2017. In what kind of situation would a thresholded metric like this be interesting? Perhaps in a scenario similar to the ongoing IRS Coinbase issue, where the IRS is seeking information on all holders with balances >$20,000. Conceptualized in terms of an attack, a high Gini coefficient would mean that a government would only need to round up a few large holders in order to acquire a large percentage of outstanding cryptocurrency — and with it the ability to tank the price. With that said, two points. First, while one would not want a Gini coefficient of exactly 1.0 for BTC or ETH (as then only one person would have all of the digital currency, and no one would have an incentive to help boost the network), in practice it appears that a very high level of wealth centralization is still compatible with the operation of a decentralized protocol. Second, as we show below, we think the Nakamoto coefficient is a better metric than the Gini coefficient for measuring holder concentration in particular as it obviates the issue of arbitrarily choosing a threshold. ...However, the maximum Gini coefficient has one obvious issue: while a high value tracks with our intuitive notion of a “more centralized” system, the fact that each Gini coefficient is restricted to a 0–1 scale means that it does not directly measure the number of individuals or entities required to compromise a system. Specifically, for a given blockchain suppose you have a subsystem of exchanges with 1000 actors with a Gini coefficient of 0.8, and another subsystem of 10 miners with a Gini coefficient of 0.7. It may turn out that compromising only 3 miners rather than 57 exchanges may be sufficient to compromise this system, which would mean the maximum Gini coefficient would have pointed to exchanges rather than miners as the decentralization bottleneck. Conversely, if one considers “number of distinct countries with substantial mining capacity” an essential subsystem, then the minimum Nakamoto coefficient for Bitcoin would again be 1, as the compromise of China (in the sense of a Chinese government crackdown on mining) would result in >51% of mining being compromised.
What are cryptocurrencies? Cryptocurrencies are peer to peer technology protocols which rely on the block-chain; a system of decentralized record keeping which allows people to exchange unmodifiable and indestructible information “coins,” globally in little to no time with little to no fees – this translates into the exchange of value as these coins cannot be counterfeit nor stolen. This concept was started by Satoshi Nakamoto (allegedly a pseudonym for a single man or organization) whom described and coded Bitcoin in 2009. What is DigiByte? DigiByte (DGB) is a cryptocurrency like Bitcoin. It is also a decentralized applications protocol in a similar fashion to Neo or Ethereum. DigiByte was founded and created by Jared Tate in 2014. DigiByte allows for fast (virtually instant) and low cost (virtually free) transactions. DigiByte is hard capped at 21 billion coins which will ever be mined, over a period of 21 years. DigiByte was never an ICO and was mined/created in the same way that Bitcoin or Litecoin initially were. DigiByte is the fastest UTXO PoW scalable block-chain in the world. We’ll cover what this really means down below. DigiByte has put forth and applied solutions to many of the problems that have plagued Bitcoin and cryptocurrencies in general – those being:
Maintaining low fees.
Maintaining fast transaction times.
Maintaining robust security + the immutable ledger.
And most importantly assuring massive scalability on chain.
We will address these point by point in the subsequent sections. The DigiByte Protocol DigiByte maintains these properties through use of various technological innovations which we will briefly address below. Why so many coins? 21 Billion When initially conceived Bitcoin was the first of a kind! And came into the hands of a few! The beginnings of a coin such as Bitcoin were difficult, it had to go through a lot of initial growth pains which following coins did not have to face. It is for this reason among others why I believe Bitcoin was capped at 21 million; and why today it has thus secured a place as digital gold. When Bitcoin was first invented no one knew anything about cryptocurrencies, for the inventor to get them out to the public he would have to give them away. This is how the first Bitcoins were probably passed on, for free! But then as interest grew so did the community. For them to be able to build something and create something which could go on to have actual value, it would have to go through a steady growth phase. Therefore, the control of inflation through mining was extremely important. Also, why the cap for Bitcoin was probably set so low - to allow these coins to amass value without being destroyed by inflation (from mining) in the same way fiat is today! In my mind Satoshi Nakamoto knew what he was doing when setting it at 21 million BTC and must have known and even anticipated others would take his design and build on top of it. At DigiByte, we are that better design and capped at 21 billion. That's 1000 times larger than the supply of Bitcoin. Why though? Why is the cap on DigiByte so much higher than that of Bitcoin? Because DigiByte was conceived to be used not as a digital gold, nor as any sort of commodity, but as a real currency! Today on planet Earth, we are approximately 7.6 billion people. If each person should want or need to use and live off Bitcoin; then equally split at best each person could only own 0.00276315789 BTC. The market cap for all the money on the whole planet today is estimated to have recently passed 80 trillion dollars. That means that each whole unit of Bitcoin would be worth approximately $3,809,523.81! $3,809,523.81 This is of course in an extreme case where everyone used Bitcoin for everything. But even in a more conservative scenario the fact remains that with such a low supply each unit of a Bitcoin would become absurdly expensive if not inaccessible to most. Imagine trying to buy anything under a dollar! Not only would using Bitcoin as an everyday currency be a logistical nightmare but it would be nigh impossible. For each Satoshi of a Bitcoin would be worth much, much, more than what is realistically manageable. This is where DigiByte comes in and where it shines. DigiByte aims to be used world-wide as an international currency! Not to be hoarded in the same way Bitcoin is. If we were to do some of the same calculations with DigiByte we'd find that the numbers are a lot more reasonable. At 7.6 billion people, each person could own 2.76315789474 DGB. Each whole unit of DGB would be worth approximately $3,809.52. $3,809.52 This is much more manageable and remember in an extreme case where everyone used DigiByte for everything! I don't expect this to happen anytime soon, but with the supply of DigiByte it would allow us to live and transact in a much more realistic and fluid fashion. Without having to divide large numbers on our phone's calculator to understand how much we owe for that cup of coffee! With DigiByte it's simple, coffee cost 1.5 DGB, the cinema 2.8 DGB, a plane ticket 500 DGB! There is a reason for DigiByte's large supply, and it is a good one! Decentralisation Decentralisation is an important concept for the block-chain and cryptocurrencies in general. This allows for a system which cannot be controlled nor manipulated no matter how large the organization in play or their intentions. DigiByte’s chain remains out of the reach of even the most powerful government. This allows for people to transact freely and openly without fear of censorship. Decentralisation on the DigiByte block-chain is assured by having an accessible and fair mining protocol in place – this is the multi-algorithm (MultiAlgo) approach. We believe that all should have access to DigiByte whether through purchase or by mining. Therefore, DigiByte is minable not only on dedicated mining hardware such as Antminers, but also through use of conventional graphics cards. The multi-algorithm approach allows for users to mine on a variety of hardware types through use of one of the 5 mining algorithms supported by DigiByte. Those being:
Please note that these mining algorithms are modified and updated from time to time to assure complete decentralisation and thus ultimate security. The problem with using only one mining algorithm such as Bitcoin or Litecoin do is that this allows for people to continually amass mining hardware and hash power. The more hash power one has, the more one can collect more. This leads to a cycle of centralisation and the creation of mining centres. It is known that a massive portion of all hash power in Bitcoin comes from China. This kind of centralisation is a natural tendency as it is cheaper for large organisations to set up in countries with inexpensive electricity and other such advantages which may be unavailable to the average miner. DigiByte mitigates this problem with the use of multiple algorithms. It allows for miners with many different kinds of hardware to mine the same coin on an even playing field. Mining difficulty is set relative to the mining algorithm used. This allows for those with dedicated mining rigs to mine alongside those with more modest machines – and all secure the DigiByte chain while maintaining decentralisation. Low Fees Low fees are maintained in DigiByte thanks to the MultiAlgo approach working in conjunction with MultiShield (originally known as DigiShield). MultiShield calls for block difficulty readjustment between every single block on the chain; currently blocks last 15 seconds. This continuous difficulty readjustment allows us to combat any bad actors which may wish to manipulate the DigiByte chain. Manipulation may be done by a large pool or a single entity with a great amount of hash power mining blocks on the chain; thus, increasing the difficulty of the chain. In some coins such as Bitcoin or Litecoin difficulty is readjusted every 2016 blocks at approximately 10mins each and 2mins respectively. Meaning that Bitcoin’s difficulty is readjusted about every two weeks. This system can allow for large bad actors to mine a coin and then abandon it, leaving it with a difficulty level far too high for the present hash rate – and so transactions can be frozen, and the chain stopped until there is a difficulty readjustment and or enough hash power to mine the chain. In such a case users may be faced with a choice - pay exorbitant fees or have their transactions frozen. In an extreme case the whole chain could be frozen completely for extended periods of time. DigiByte does not face this problem as its difficulty is readjusted per block every 15 seconds. This innovation was a technological breakthrough and was adopted by several other coins in the cryptocurrency environment such as Dogecoin, Z-Cash, Ubiq, Monacoin, and Bitcoin Gold. This difficulty readjustment along with the MultiAlgo approach allows DigiByte to maintain the lowest fees of any UTXO – PoW – chain in the world. Currently fees on the DigiByte block-chain are at about 0.0001 DGB per transaction of 100 000 DGB sent. This depends on the amount sent and currently 100 000 DGB are worth around $2000.00 with the fee being less than 0.000002 cents. It would take 500 000 transactions of 100 000 DGB to equal 1 penny’s worth. This was tested on a Ledger Nano S set to the low fees setting. Fast transaction times Fast transactions are ensured by the conjunctive use of the two aforementioned technology protocols. The use of MultiShield and MultiAlgo allows the mining of the DigiByte chain to always be profitable and thus there is always someone mining your transactions. MultiAlgo allows there to a greater amount of hash power spread world-wide, this along with 15 second block times allows for transactions to be near instantaneous. This speed is also ensured by the use DigiSpeed. DigiSpeed is the protocol by which the DigiByte chain will decrease block timing gradually. Initially DigiByte started with 30 second block times in 2014; which today are set at 15 seconds. This decrease will allow for ever faster and ever more transactions per block. Robust security + The Immutable Ledger At the core of cryptocurrency security is decentralisation. As stated before decentralisation is ensured on the DigiByte block chain by use of the MultiAlgo approach. Each algorithm in the MultiAlgo approach of DigiByte is only allowed about 20% of all new blocks. This in conjunction with MultiShield allows for DigiByte to be the most secure, most reliable, and fastest UTXO block chain on the planet. This means that DigiByte is a proof of work (PoW) block-chain where all transactional activities are stored on the immutable public ledger world-wide. In DigiByte there is no need for the Lightning protocol (although we have it) nor sidechains to scale, and thus we get to keep PoW’s security. There are many great debates as to the robustness or cleanliness of PoW. The fact remains that PoW block-chains remain the only systems in human history which have never been hacked and thus their security is maximal. For an attacker to divert the DigiByte chain they would need to control over 93% of all the hashrate on one algorithm and 51% of the other four. And so DigiByte is immune to the infamous 51% attack to which Bitcoin and Litecoin are vulnerable. Moreover, the DigiByte block-chain is currently spread over 200 000 plus servers, computers, phones, and other machines world-wide. The fact is that DigiByte is one of the easiest to mine coins there is – this is greatly aided by the recent release of the one click miner. This allows for ever greater decentralisation which in turn assures that there is no single point of failure and the chain is thus virtually un-attackable. On Chain Scalability The biggest barrier for block-chains today is scalability. Visa the credit card company can handle around 2000 transactions per second (TPS) today. This allows them to ensure customer security and transactional rates nation-wide. Bitcoin currently sits at around 7 TPS and Litecoin at 28 TPS (56 TPS with SegWit). All the technological innovations I’ve mentioned above come together to allow for DigiByte to be the fastest PoW block-chain in the world and the most scalable. DigiByte is scalable because of DigiSpeed, the protocol through which block times are decreased and block sizes are increased. It is known that a simple increase in block size can increase the TPS of any block-chain, such is the case with Bitcoin Cash. This is however not scalable. The reason a simple increase in block size is not scalable is because it would eventually lead to some if not a great amount of centralization. This centralization occurs because larger block sizes mean that storage costs and thus hardware cost for miners increases. This increase along with full blocks – meaning many transactions occurring on the chain – will inevitably bar out the average miner after difficulty increases and mining centres consolidate. Hardware cost, and storage costs decrease over time following Moore’s law and DigiByte adheres to it perfectly. DigiSpeed calls for the increase in block sizes and decrease in block timing every two years by a factor of two. This means that originally DigiByte’s block sizes were 1 MB at 30 seconds each at inception in 2014. In 2016 DigiByte increased block size by two and decreased block timing by the same factor. Perfectly following Moore’s law. Moore’s law dictates that in general hardware increases in power by a factor of two while halving in cost every year. This would allow for DigiByte to scale at a steady rate and for people to adopt new hardware at an equally steady rate and reasonable expense. Thus so, the average miner can continue to mine DigiByte on his algorithm of choice with entry level hardware. DigiByte was one of the first block chains to adopt segregated witness (SegWit in 2017) a protocol whereby a part of transactional data is removed and stored elsewhere to decrease transaction data weight and thus increase scalability and speed. This allows us to fit more transactions per block which does not increase in size! DigiByte currently sits at 560 TPS and could scale to over 280 000 TPS by 2035. This dwarfs any of the TPS capacities; even projected/possible capacities of some coins and even private companies. In essence DigiByte could scale worldwide today and still be reliable and robust. DigiByte could even handle the cumulative transactions of all the top 50 coins in coinmarketcap.com and still run smoothly and below capacity. In fact, to max out DigiByte’s actual maximum capacity (today at 560 TPS) you would have to take all these transactions and multiply them by a factor of 10! Oher Uses for DigiByte Note that DigiByte is not only to be used as a currency. Its immense robustness, security and scalability make it ideal for building decentralised applications (DAPPS) which it can host. DigiByte can in fact host DAPPS and even centralised versions which rely on the chain which are known as Digi-Apps. This application layer is also accompanied by a smart contract layer. Thus, DigiByte could host several Crypto Kitties games and more without freezing out or increasing transaction costs for the end user. Currently there are various DAPPS being built on the DigiByte block-chain, these are done independently of the DigiByte core team. These companies are simply using the DigiByte block-chain as a utility much in the same way one uses a road to get to work. One such example is Loly – a Tinderesque consensual dating application. DigiByte also hosts a variety of other platform projects such as the following:
DigiPay – A jqeury online payment protocol portal web plugin.
DigiByte DigiHash - The official DigiByte foundation mining pool.
DigiByte Digi-ID – A platform for identity verification to be used in lieu of two factor authentication and passwords.
DigiByte Emma AI – A DigiByte interactive artificial intelligence assistant.
DigiByte DigiMan – A web browser plugin to be used as a security layer two protocol.
DigiByte DigiSeeder – A background seeding service which assures all wallets quickly find other peers in the network.
DigiByte DigiMessenger – A ground-breaking messaging application built on top of DigiByte which features robust and virtually unbreakable encryption.
DigiByte OneClickMiner – An easy to set up application which allows users to quickly start mining DigiByte on their home machines.
DigiByte DigiBot – A telegram bot for users to interact with DigiByte and more.
The DigiByte Foundation As previously mentioned DigiByte was not an ICO. The DigiByte foundation was established in 2017 by founder Jared Tate. Its purpose is as a non-profit organization dedicated to supporting and developing the DigiByte block-chain. DigiByte is a community effort and a community coin, to be treated as a public resource as water or air. Know that anyone can work on DigiByte, anyone can create, and do as they wish. It is a permissionless system which encourages innovation and creation. If you have an idea and or would like to get help on your project do not hesitate to contact the DigiByte foundation either through the official website and or the telegram developer’s channel. For this reason, it is ever more important to note that the DigiByte foundation cannot exist without public support. And so, this is the reason I encourage all to donate to the foundation. All funds are used for the maintenance of DigiByte servers, marketing, and DigiByte development. DigiByte Resources and Websites DigiByte
OS X Wallet
Rasberry Pi Wallet
Ledger Hardware Wallet
Please refer to the sidebar of this sub-reddit for more resources and information. Edit - Removed Jaxx wallet. Edit - A new section was added to the article: Why so many coins? 21 Billion Edit - Adjusted max capacity of DGB's TPS - Note it's actually larger than I initially calculated. Edit – Grammar and format readjustment Hello, I hope you’ve enjoyed my article, I originally wrote this for the reddit sub-wiki where it generally will most likely, probably not, get a lot of attention. So instead I've decided to make this sort of an introductory post, an open letter, to any newcomers to DGB or for those whom are just curious. I tried to cover every aspect of DGB, but of course I may have forgotten something! Please leave a comment down below and tell me why you're in DGB? What convinced you? Me it's the decentralised PoW that really convinced me. Plus, just that transaction speed and virtually no fees! Made my mouth water! -Dereck de Mézquita I'm a student typing this stuff on my free time, help me pay my debts? Thank you! D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g https://digiexplorer.info/address/D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
Also find graphics card power consumption, which driver version to choose, tweaks and suggestions. ... 300 Hash/s: CryptoNote: 60W-Gigabyte: Nvidia: Gigabyte GTX 1050 Ti WindForce OC Hashrate : GTX 1060: 23.2 MHash/s: Ethereum: 75W: 1733 MHz-Asus : Nvidia: Asus GTX 1060 Hashrate : RX 480 8GB: 28.63 MHash/s: Ethereum: 1290 MHz-Gigabyte: AMD: Gigabyte RX 480 8GB Hashrate : Radeon R9 380: 22 ... A Bitcoin miner is a computer or a graphics card that is used to extract BTC. Bitcoin miners can be divided into three types: ASIC miner - as far as Bitcoin is concerned, the only profitable solution is to buy a professional ASIC miner. The best way to buy such an miner is a direct purchase from Chinese manufacturers who offer the best quality equipment. The largest companies producing miners ... Dont try to buy a miner based on only price or only hash rate. The best ASIC miner is the most efficient bitcoin miner. Aim for value. Bitcoin Miners for Sale on eBay or Amazon If youre a hobby miner who wants to buy a couple rigs for your house, eBay and Amazon both have some decent deals on mining hardware. Both new and used bitcoin mining rigs and ASICs are available on eBay. One may want ... The BCH computing hash is the Bitcoin Cash computing power. detail > Hashrate . 50.08 ... Electricity is calculated on the basis of the power consumption of the graphics card 16. 2.28 $/month (0.08 $/days) Est Daily Revenue . Each serving equals 10 M，The daily output is the public output data for each T of the mining pool by currency (no mining pool fees). 0.00067150 ETH/per (≈ 0.279$/days ... Although an ASIC can be built to provide optimal hashrates on an algorithm, the Graphics Processing Unit (GPU) is much more powerful than the CPU, and more flexible than an ASIC in their application. The GPU is the chip that enables graphics cards (often called GPUs for brevity in mining circles) to perform millions of repetitive calculations at the same time so that games can be rendered in ...
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