Mining rig - Bitcoin Wiki

MiningPoolHub

This sub is strictly focused on mining on the MiningPoolHub service.
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BlooCoin, Future of Crypto-Currency

BlooCoin is a crypto-currency currently in development, what makes it special is that it's coded in python making it very easy for any regular consumer to mine. It is similar to BitCoin, except you don't need a fancy mining rig in order to gain any profits...at least not yet ;)
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Bitcoin mining could be making a comeback! Here is what you need to know about cryptocurrency mining rigs

Bitcoin mining could be making a comeback! Here is what you need to know about cryptocurrency mining rigs submitted by T0TALWANNABE to GetCryptocurrency [link] [comments]

Bitcoin mining could be making a comeback! Here is what you need to know about cryptocurrency mining rigs - Yahoo Finance

Bitcoin mining could be making a comeback! Here is what you need to know about cryptocurrency mining rigs - Yahoo Finance submitted by ulros to fbitcoin [link] [comments]

Bitcoin mining could be making a comeback! Here is what you need to know about cryptocurrency mining rigs

Bitcoin mining could be making a comeback! Here is what you need to know about cryptocurrency mining rigs submitted by leftok to atbitcoin [link] [comments]

What is a "good" $/kwh rate for profitbale bitcoin mining? I know your rig matters, but does ultra high speed internet matter?

submitted by andymartin69 to Bitcoin [link] [comments]

What is a "good" $/kwh rate for profitbale bitcoin mining? I know your rig matters, but does ultra high speed internet matter? /r/Bitcoin

What is a submitted by BitcoinAllBot to BitcoinAll [link] [comments]

My Grandpa asked what "mining" was. This is how explained it to him. Now we're building a mining rig together! /r/Bitcoin

My Grandpa asked what submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Is this a reputable place to buy a mining rig? Or what's the best place for a Canadian? /r/Bitcoin

Is this a reputable place to buy a mining rig? Or what's the best place for a Canadian? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: How practical is a solar powered bitcoin mining rig and what factors should be considered if I were to build one. /r/AskReddit

Bitcoin mentioned around Reddit: How practical is a solar powered bitcoin mining rig and what factors should be considered if I were to build one. /AskReddit submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Curious about bitcoin mining, one question though. Once you have a rig set up, what is the actual process of mining?

By this I mean, does it take active participation from the miner or do you just set up the mining program, make sure the power is on and let it run?
submitted by Honbomb to BitcoinMining [link] [comments]

Butthead from Fidelity Investments tries to defend Buttcoin. Let's dissect their "myth busting"...

Addressing Fidelity Digital Investments defense of Bitcoin:
Note: Sorry about the misleading title. People (including myself initially) were under the assumption this was "Fidelity Investments" or a division of that company. Please see comment from madali0 - this whole press release is misleading and scammy, and apparently has no affilliation with the more more well known "Fidelity Investments" - this is a separate entity called, "Fidelity Digital Investments" which for all we know, is some dude in his mom's basement.
EDIT: UPDATE 2: Apparently while it's a separate entity for obvious liability purposes, it does appear to be associated with the main Fidelity company one way or another (which makes it look even worse for Fidelity to be associated with such vapid propaganda, but there it is. See: https://www.fidelity.com/fidelitydigitalassets/blog
Also, NOTE that Fidelity calls it a "blog" - which if it's like Forbes, Huffington Post or other sites that offer user blogs, they basically will let just about anybody post under their moniker (as a shady way to drive traffic), whether it's been vetted or approved. So take it with a grain of salt. I would bet the author of that post is neither employed by any "Fidelity" company.
Note: This has also been added to our official De-facto list of examples of what crypto is good for document.
Criticism #1: Bitcoin is too volatile to be a store of value.
Response: Bitcoin’s volatility is a trade-off it makes for perfect supply inelasticity and an intervention-free market. However, with greater adoption of bitcoin and the development of derivatives and investment products, bitcoin’s volatility may continue to decrease, as it has historically.
First off, bitcoin's volatility has not "historically decreased." It continues to dramatically drop and rise randomly. Since bitcoin is not mapped to any tangible asset or entity, there's no way to perform due diligence or technical analysis on it. Its price is a reflection of demand, nothing else, and demand is driven by marketing.
In related news, if you add vitamins to water, it becomes a source of useful nutrients.
If you take beanie babies, and build a state-sanctioned infrastructure around them, they'll become less volatile.
Fidelity's argument here is, if you take a rock, add some bone broth, veggies, proteins, and spices, the rock becomes soup.
Criticism #2: Bitcoin has failed as a means of payment.
Response: Bitcoin makes deliberate trade-offs, such as limited and expensive capacity, to offer core properties such as decentralization and immutability. Given its high settlement assurances, Bitcoin optimizes its limited capacity for settling transactions that aren’t well served by traditional rails.
Translation: Is bitcoin a crappy payment system? Hey, look over at that shiny thing in the corner. Isn't it shiny? Did we mention bitcoin is decentralized and the blockchain is immutable?
We've already shown that blockchain isn't better, and being de-centralized isn't better. So if that's the best argument, which isn't really an argument at all, just a distraction, that's sad. Even I could come up with a better argument than a Red Herring.
Bitcoin optimizes its limited capacity for settling transactions that aren’t well served by traditional rails.
Anyone know what "transactions" exclusively fit Fidelity's description? Anyone? Buehler?
Yes, that's right, you got it: Criminal transactions, money laundering, drug deals, ransom payments, etc.
Criticism #3: Bitcoin is wasteful.
Response: A substantial portion of bitcoin mining is powered by renewable energy or energy that would otherwise be wasted. Additionally the energy the Bitcoin network does consume is a valid and important use of resources.
This is an unstated major premise. Argument from anonymous authority. Where's the evidence that this energy would be wasted if it weren't spent on mining? This is another common myth that is going around.
Second, even if the energy were "free", it could be better spent on something than mining, which wastes tremendous amounts of energy and creates nothing useful. Most power plants scale their energy generation based on demand, and even renewable energy sources have ways to not waste energy that isn't needed at that time. This argument is completely false.
Note that any example Fidelity may cite of mining operations using unused energy resources is not in any way representative of the even a sizeable portion of the mining pool's energy consumption. The exception doesn't prove the rule. A picture of a mining rig with a gas flare in the distance is not evidence that rig is using energy that would otherwise be wasted.
Ultimately, "hey it would be wasted anyway" is the absolute worst argument ever. That's basically a justification for the Tragedy of the Commons.
Criticism #4: Bitcoin is used for illicit activity.
Response: Bitcoin, like cash or the internet, is neutral and has properties that may be valuable to good actors and bad actors. However, as a share of total transactions, Bitcoin transactions connected to illicit activity are very low.
Notice they didn't actually refute this point. They just sidestepped it.
We know for a fact that a huge percentage of crypto transactions are wash trades. Even if you just count those transactions, it would probably account for the majority. At this time, because there may be more market speculation transactions than drug deal transactions, doesn't mean the activity is not "illicit." Any exchange that ever disappeared, was most likely engaged primarily in illicit transactions.
Is bitcoin "neutral?" That's hard to say. It lends itself to criminal transactions much more easily than alternative methods, especially when it comes to stealing peoples' value. One thing Bitcoin does that's unique, is it allows someone to steal their bitcoin from thousands of miles away without them even knowing. That is one feature that's a lot harder to do with virtually every other monetary/value system. So given that unique attribute, I think their claim it's not "used for illicit activity" is bullshit. It's not only used for illicit acitvity. It's uniquely designed to be particularly efficient at it.
Criticism #5: Bitcoin is not backed by anything.
Response: Bitcoin is not backed by cash flows, industrial utility, or decree. It is backed by code and the consensus that exists among its key stakeholders.
Bitcoin is backed by code? What is code worth? What is a consensus worth? How does that offer any stability? Code changes all the time. So does consensus. Fidelity here is mixing apples and oranges. This is a totally retarded, non-sensical argument.
Hey, I need you to buy magic spreadsheet numbers. They're backed by "code". What "code?" Don't worry about it. A "consensus" of people you don't know think it's cool. That's all you need to know, right?
Criticism #6: Bitcoin will be replaced by a competitor.
Response: While Bitcoin’s open-source software may be forked, its community and network effects cannot. Bitcoin makes trade-offs for core properties that the market deems valuable.
This makes no sense. Communities fork along with code. That's the whole point of forking. A fork also changes the "effect" of the network, you idiots. Does this guy really know anything about how crypto works? Fidelity's argument is absurd and wrong.
Conclusion
While this piece does not cover the exhaustive list of criticisms against bitcoin, we believe the responses outlined here may be adapted to address other common misconceptions.
Bitcoin is a unique digital asset for an increasingly digital world that requires digging deeper than the surface level to understand its core properties and trade-offs. It pushes onlookers to question pre-conceived notions of what is right and widely accepted to begin to understand its full value proposition.
Feel free to dig deeper. But note that none of you people have found the bottom of the pile of bullshit yet. Keep going.
Conclusion
What have we learned from this press release?
Some people at fidelity have some bags they've recently bought into that they hope to unload soon.
submitted by AmericanScream to Buttcoin [link] [comments]

What is a Good Side Business that Uses a lot of Electricity?

I have an 8 kW solar system that gives me an extra 200-400 kWh a month. I don't make much at all back from the utility company, so this energy is wasted, (it isn't oversized, I just net that much, given I have no battery system so I use a lot of utility power at night, just half what I do during the day). I know one good idea in the past was a bitcoin mining rig...but that is kind of becoming cost-prohibitive all around.
So, what is a good alternative money maker that you would use if you had a lot of extra energy? I am an electrical engineer with an MBA and lots of technician and electrician experience in the past. I was thinking of some kind of motor-powered machine or several 3D printers, but continuous higher energy during the day is better.
submitted by Konrad-der-GroBe to Entrepreneur [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Meros Cryptocurrency - Not once discussed on here, but interesting concepts that seem to tick all my boxes.

This one has been in development for a while - August 2018 if you check their twitter - And I've just been given the nod towards it recently, was wondering if anyone else had it on their radar:
https://meroscrypto.io/
So, here's what it promises:
Here's their github:
https://github.com/MerosCrypto/Meros
So, as a person who mined formerly, I really like the fact that it will be CPU mineable (especially as I was going to set up a CPU mining rig anyways) as that discourages big ASIC/heavy GPU action. I like the fact that it'll use DAG to facilitate easy, fast transfers.
It's like Bitcoin, Nano, Monero and ETH all had a baby together and ended up with the best of all worlds.
Anyone else watching it with interest? From what I've heard, the initial release date is sometime soon™.
submitted by LargeSnorlax to CryptoCurrency [link] [comments]

Need help with random shutdowns

I have a PC that was pretty high end about 7 years ago. It was given to me by a friend who built it as a mining rig for some kind of magic coin (not bitcoin, but similar).
Mobo: ASUS ROG Rampage IV black edition E8670 CPU: Intel i7 (not sure specific model, PC is not running atmo Cooler: Unsure of brand, but it's a pretty bad ass liquid cooler with large heat exchanger, plus extra case fans Ram: 16GB of ripsaw DD3 I believe. I don't believe RAM is the issue because I've removed pairs of DIMMs, and swapped slots, and still having issues. GPU: NVIDIA GTX 750 Ti (swapped into my old PC and it runs fine) Power Supply: Seasonic FOCUS 750w (purchased April 2020) Fresh Windows 10 install
The PC is having random shutdowns. Sometimes it will blue screen, sometimes it will hang in the boot sequence.
The thing is, there often won't be issues listed in the event viewer, other than "your PC just restarted unexpectedly". Which leads me to believe this is a hardware issue. I did a fresh install of Win10 anyway to rule that out.
What I've done: As I said above, I swapped DIMMS between slots, and removed alternating pairs ruling out a bad DIMM. This did not change anything.
I also removed the GPU and used on board graphics with no change.
So I'm assuming this is a hardware issue, probably in CPU or mobo. But I'm not sure what other troubleshooting steps I can try before just throwing parts at it. And throwing parts at it sucks, because the mobo, CPU, and ram are all outdated, which means swapping all of them at the same time.
TIA
submitted by Just___Dave to pctroubleshooting [link] [comments]

new to bitcoins

Im new to bitcoin and would like some insight. I know some of it I know people use minding hardware for mining. How long would it take with something like a antminor or some other rig to mine 1BTC? I know the hash rate makes all the difference, What is the ideal rate?
submitted by Crazygamerlv to Bitcoin [link] [comments]

Extra ETH

About 6 weeks ago, I had a few consecutive realizations that have motivated me to make a large bet on ETH. I have been a casual follower of Crypto since early days, but missed the big rise of Bitcoin. I feel that ETH is going to have an enormous rise in the next few years due to what I can only call "increasing contact with the real world." A confluence of factors have made me think that more traditional macroeconomic pressures will start to take root in the Crypto sector, and that ETH is positioned at the leading edge of this contact. And, based on traditional macro analysis, it is, as they say on Twitter, "undervalued af."
I've set up a staking node on the madalla test net. I've set up new mining rigs. My initial 32 ETH is now tied up on one of my long-term bets, but ... now I have MORE ETH, and this has me looking at it wondering, "Well, what should I do with it?"
(1) Can I add it to my staking share on the test net? Oddly, I haven't been able to find any way to do this that I fully understand. I'm not sure that "wait until I have another 32 and set up a new node" is the ideal method. My spike in Comcast usage confirms this. Does anyone have a link or can you personally provide instructions on increasing my proof-of-stake?
(2) What is the gain of a "staking pool?" From a mining perspective, I understand why pooling proof-of-work makes sense. However, what am I missing about "staking pools" that would make them attractive? What is my gain for joining a "team"? It doesn't make any sense to me, so far, but I wonder what I'm overlooking.
submitted by zaqhack to ethstaker [link] [comments]

hey i have some questions about cryptocurrencys

so i am really new to all that. and my english isnt the best so bare with me and help me understand all that better
the thing i do not understand is: what does satoshi do with all his coins (better what could he do)
and why are there so many transactions (3,500 says google) per block why not just one per block?
and then WHEN will it happen that bitcoin mining just isnt profitable anymore because of the to high electricity costs.
so i am in a funny position where i dont have to pay for my energy bill but all i have, is a crappy internet connection and a ryzen 5 8 gb ram laptop, (i am currently typing this in shool)
could i start mining or would i just be crushed by someone with 8 RTX 2080 ti super in a cool rgb rig in his climate controlled closet?
submitted by zimmon375 to Bitcoin [link] [comments]

What will happen when the last Bitcoin is mined? Will it all expire in 2140?

Pardon my ignorance as this may be common information to most of you, but this question has burned in my mind since I started investing in Bitcoin about 4 years ago, and I don't think I ever received a satisfactory answer. We can all agree mining is expensive and energy consuming, while more Bitcoins are produced mining rigs costs get covered. What will happen to the ledger when last Bitcoin is mined in 2140? (estimated year when all 21 million Bitcoins will get mined - got this from various sources) Will no one mine any longer? Will mining be less expensive once technology advances? Will it all expire?
submitted by Wtownlurker to Bitcoin [link] [comments]

11-01 02:07 - 'What do you all think about ASICLine for Bitcoin mining?' (self.Bitcoin) by /u/gimbhi removed from /r/Bitcoin within 44-54min

'''
ASICLine (google it) just released some pre-built mining rigs. Is this a scam? Have people tried this yet?
'''
What do you all think about ASICLine for Bitcoin mining?
Go1dfish undelete link
unreddit undelete link
Author: gimbhi
submitted by removalbot to removalbot [link] [comments]

10-25 17:55 - 'If energy was not an issue, is mining still profitable?' (self.Bitcoin) by /u/platinium29 removed from /r/Bitcoin within 12-22min

'''
Hi, not sure if this belongs here, so excuse in advance if it doesnt. But i just wanted to know, IF, energy bill/costs isnt an issue, would buying a $2000-3000k mining rig still profitable in 2021, and if yes, whats the best coin to get you ROI in the shortest time and what would be that esimated time? The thing is i just moved to a place where i wont have to pay energy because everything is solar powered with very powerful system and huge battery storage, so energy bills for me wont be a problem. Thanks in advance.
'''
If energy was not an issue, is mining still profitable?
Go1dfish undelete link
unreddit undelete link
Author: platinium29
submitted by removalbot to removalbot [link] [comments]

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submitted by drexTech to shoppingbay [link] [comments]

GPU or Asic mining

Ok, A little backround. I know hardware and networking. I can build just about any config of a computer. I understand overclocking and undervolting. I can invest around 2,700 for initial investment.
So do I buy hardware to build a GPU miner with at least 6 cards or more? Probably RX580 as they are cheap and I have one in my rig. More on that later.
Or do I a Asic miner like this I understand a GPU miner is multiple coins and not Bitcoin, and Asic is nothing but Bitcoin.
I've done the math on the Asic miner and the ROI in about 3 months with a net gain of about ~10,000 USD a year @ .13 cents per Watt.
I've had a hard time finding a solid or semi way of calculating the earnings for a GPU miner. Not only because it is many coins or dedicated to one coin, but there our other variables involved. However I have more control of the hardware if it fails.
I dipped my toe into mining with my own rig that has a RX580 fatboy and a AMD Phenom ii x4 955 black edition. I overclocked the GPU and undervolted the CPU to reduce heat since it was hitting 62 cel.
The GPU gets 12.5 sol/s and the CPU was getting ~322 h/s. All this added up to ~170 watts and a net of .00218322 BTC/Month. This was all done using Cudo as it was easy to find and setup just to test. This was just a test to see how it would work. I wouldn't use Cudo to full scale as it is a pool and the transfer to a Wallet is pretty steep in relationship to earns. I understand that in a pool you get your share based upon how much of the "work" you did to get find block.
So do I build or buy? With that much computation power do I need to join a pool? What software is best for pool or alone? I am comfortable with CLI as long as it's well documented, but would like a remote GUI.
Also what is the best wallet with the best fees for transactions. Currently using uphold since I use Brave.
I think I covered as much as I could, if you have any questions let me know. Any advice would be great. If I should post this else where let me know please or I could just cross post it.
TIA. Be safe, stay safe!
Edit: Words and BTC earning was WAY off then I first typed this.
submitted by P_Munky to bitcoinhardware [link] [comments]

What is Bitcoin Mining? (In Plain English) - YouTube What is Bitcoin Mining? - YouTube I bought an Old Bitcoin Mining Rig - YouTube How to Build a Crypto Mining Rig - YouTube Buying a $800 Pre-built Bitcoin Cryptocurrency Mining Rig ...

Der Großteil des Bitcoin Mining ist spezialisiert und die Lagerhäuser sehen in etwa so aus: Quelle ieee.org. Damit haben Sie es zu tun! Es ist einfach zu teuer und es ist unwahrscheinlich, dass Sie einen Gewinn erzielen. Allerdings: Zum Hobby-Mining zeigen wir Ihnen ein paar Schritte, die Sie unternehmen können, um sofort mit dem Mining von Bitcoins zu beginnen. Schritt #1: Besorgen Sie ... Cryptocurrency mining has in many respects become an industrialized business. But despite the concentration of hashing power, the increasing difficulty and diminishing returns, in some cases it ... Bitcoin Mining ist das neue Goldschürfen: Als Miner, also Schürfer, verdienen Sie virtuelles Geld dafür, dass Sie Ihre Rechnerleistung zur Verfügung stellen. Allerdings ist hierfür so einiges ... Mining Rig Kaufen Bauen Verstehen. Hier findest du Informationen rund um das Thema Mining Rig.Ob du einen kaufen oder einen selber zusammenbauen willst, hier wirst du fündig. Steig ein in die Welt des Schürfens! Shark Mining is a well-regarded company that makes some excellent pre-built mining rigs. Its Shark Mini is a compact rig that comes with four GPUs. The base model comes with AMD RX 570/580, but ...

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What is Bitcoin Mining? (In Plain English) - YouTube

Learn how to mine your very own Cryptocurrency! In the video, we go over the tech you will need and how to put all the pieces together. There's many ways to ... Vosk reviews how to build the best cheap beginner crypto GPU mining rig in a few easy steps! Anyone can build this Duo Mining Rig for less than $1000 with no... Should you buy a pre-built btc cryptocurrency mining rig? The answer depends, lets review the Coinmine One and discuss the status of gpu mining in 2019 and t... Some Helpful Links: • Buy Parts for a Mining Rig: http://amzn.to/2jSSsCz • Download NiceHash Miner: https://www.nicehash.com/?p=nhmintro • Choose a Wallet: h... Start mining Bitcoin today: https://pool.bitcoin.com Video: Inside America’s largest Bitcoin mining operation http://bitshare.cm/news/inside-americas-largest...

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