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Best Bitcoin and Cryptocurrency Miners | Mega Minings
11-16 16:42 - 'what lack of hash power? it is a harder algorithm / Monero is very well decentralized, the biggest pool I see having 6 megahashes, while the whole network has 60 megahashes' by /u/cqm removed from /r/Bitcoin within 1-6min
Hello. 👋🏻 Today we will tell you about ACIS-mining and its 3 best algorithms. 📌 With the advent of ASICs for mining, it became possible to mine Bitcoin in much larger quantities than using video cards. ASIC is an integrated circuit specialized to solve a specific problem, in our case, only for bitcoin mining. These schemes are many times more profitable than video cards, because with more power (hash calculation speed) they consume much less energy. This served as a good reason to create a cryptocurrency mining business. 📌 In bitcoin and other blockchain systems, the complexity of mining depends on how quickly the miners find the block. Compared with the GPU and CPU, specialized #ASIC miners solve #PoW puzzles better and are therefore able to quickly find new blocks. 📌 Since PoW is still the preferred mining consensus mechanism, we propose to take a multiple algorithm approach. Instead of trying to use algorithms which are ASIC resistant, we propose to use algorithms which have had ASIC miners for quite some time. These are: #SHA256, #Scrypt, and #X11. 🔹 The SHA-256 algorithm has a number of advantages over other information protection technologies. Over the years of use in the cryptocurrency industry, he has shown his resistance to various hacking attempts. 🔹 Scrypt is a cryptocurrency mining algorithm that was previously interesting to many single miners in view of its resistance to the so-called “hardware attack”. The speed of creating blocks in a Scrypt-based blockchain is about 30 seconds. The hashrate, like Ethash, is measured in Megahash per second. Scrypt, first of all, became popular due to its use in Litecoin #cryptocurrency. 🔹 X11 is an encryption algorithm in which eleven are used instead of one function. This means that this technology can provide a high degree of security, because in order to harm the system, an attacker will have to crack all 11 functions, which is very unlikely, because the changes made will be visible after breaking the first function, and developers will have a lot of time to protect the system before the hacker reaches the eleventh function. Since these miners are already in wide use, the distribution of mining should be fair and even. Furthermore, the use of three different algorithms results in a far less chance of any single person gaining a majority hash rate share. Lastly, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining. Read more about PYRK mining solutions here: https://www.pyrk.org Read our Whitepaper to know more about the project: https://www.pyrk.org/Pyrk-Whitepaper.pdf https://preview.redd.it/rxmlr7wt1k251.png?width=1200&format=png&auto=webp&s=162f9ddaacb3cf3e137638464a208bdf25e50a21
ASICs are coming to the Ethereum mining industry, and small independent miners are virtually doomed. 2Ether has come up with a solution — the third element in our dynamic block reward system. But before we explain it, we’ll have to talk about Ethereum ASICs. If you don’t know that much about Ethereum, you might be surprised to learn that ASICs for mining ETH actually exist. Isn’t Ethereum’s algorithm — Ethash — supposed to be ASIC-resistant? If it isn’t then why is everyone still mining using GPUs? Well, Ethash is indeed much less ASIC-friendly than the algorithm of Bitcoin. It doesn’t mean that you can’t make ASIC chips for mining ether, though. It’s just that it’s difficult to make ASICs that would be much more efficient than graphic cards (GPUs). The efficiency of a piece of mining hardware is calculated as a ratio of power (measured in kilowatt hours) to hash power (measured in megahash per second). So for example, if you have two devices that both produce 50 MH/s, but one of them consumes 1 kWh, and the other consumes 2 kWh, then the first device is twice more efficient. ASICs cost a lot of money to design, and their market price is high. So it only makes sense to buy an ASIC if it gives you a serious advantage over other types of hardware. You should also keep in mind that if the algorithm changes, you’ll need to replace your ASIC with a new model. Such chips are built to carry out one task and one task only — that’s why they are called application-specific integrated circuits (that’s how the acronym is deciphered). Now, the first ASICs for Ethereum came out in April 2018, and they were more than a curious gadget than a serious rival to GPUs. Vitalik Buterin said that they were not a threat and the best action would be no action. But the situation changed. Soon, there were ASICs twice as efficient as the best graphic cards. Still, it wasn’t enough to justify the price difference. Finally, in late September 2019, Chinese manufacturer and distributor of mining hardware Canaan announced that it would start selling a new ASIC that is 5 to 7 times more efficient than the leading GPU models.Its W/MHs ratio is just 0.68–7.5 times better compared to AMD Vega 64 and 5.3 times better than AMD RX570. What does this mean for Ethereum mining? When such models go on sale, whoever can afford them will be able to extract very high profits. GPU miners will be at a disadvantage. And if you have only a small rig with a couple of GPUs at home, your prospects are grim. You might ask: can’t Ethereum devs do something — say, change the algorithm? Bitcoin algo changes regularly, after all. Unfortunately, Ethereum works differently, so every algorithm change would require a hard fork — with all the consequences it entails. The devs have been talking about introducing a new consensus protocol called ProgPOW (Programmable Proof of Work). It would make the algorithm change regularly and ensure ASIC resistance. But Vitalik Buterin believes that the real goal is a switch to Proof of Stake, not tweaking PoW. What other options are there to protect small miners from the upcoming wave of ASICs? In our next post, we’ll explain how 2Ether plans to deal with this problem. https://2ether.com/ Web site — https://2ether.com/ Twitter — https://twitter.com/2Ether_ Discord — https://discord.gg/TuqG4py Facebook — https://www.facebook.com/2Ethe Reddit — https://www.reddit.com/use2Ether Medium — https://medium.com/@2ether Teletype — https://teletype.in/@2ether Telegram — https://t.me/ether2support Telegram chat — https://t.me/blockchain_2ether
Bitcoiners: make no mistake! Even though it is very likely that BTU is now going the same way as XT and Classiccoin the re-centralization attempts will not stop.
Bitcoin is a revolutionary approach like never seen before in the history of the world. It is even more disruptive than any revolution seen before as it does not depend on weapons and the beheading of kings but offers an exit from the centralized financial world. It is a truly peaceful revolution that does not need guns and bloodshed and that is not aiming at putting someone else on the throne but burning down the throne altogether instead. Decentralization instead of replacing the central power that is. Any kind of revolution always triggers a counter-revolution. Re-centralization of the network is the counter-revolution to Bitcoin. In an even more sophisticated way than Xtcoin and Classiccoin BTU is aiming to enable re-centralization of mining, nodes and software development. They even wanted to install a “president” of Bitcoin. No kidding! :) With every wave the counter-revolutionary re-centralization movement is getting louder and stronger. This one has been exceptionally smart in attracting big miners / pools to it by telling them that they can outcompete and eat the smaller ones. But with every wave Bitcoin is getting stronger and more resilient as well and it has given us the ultimate tools to fight off these attacks: actual, factual decentralization and immutablity of the ledger. That is what Bitcoin stands for. No compromise on that, sorry! And these attacks will never stop. So even if BTU goes down the drain now please be aware that the fight for your own freedom will never end. “Compromise” like it has been suggested a lot in the recent days is not anything the re-centralization movement wants. It wants perpetual war and perpetual infighting and it will do anything it can do to achieve that and that means that the next iteration of the counter-revolution is already at your doorstep. Freedom is never achieved for good. Freedom is something you lose when you go to bed at night and that you will have to fight back again next morning when you get up. Keep on hodling! Keep on running your own node! And maybe even get that old 330 Megahash USB-miner out of your memorability-drawer and hook it back up to the network just to make a point! :) Edit: added a zero.
ASICs, ou circuitos integrados específicos da aplicação, são um tópico polarizador na indústria de criptografia mais ampla. Alguns projetos blockchain, como o Bitcoin e o Litecoin, adotaram essa forma de segurança de rede, permitindo que esse subconjunto de máquinas de mineração seja distribuído gratuitamente. Ainda outros empreendimentos, incluindo Ethereum e Monero, estão buscando ativamente sufocar ASICs. Embora o progresso nessa área tenha sido em grande parte retardatário, a Monero tornou-se pioneira neste espaço controverso. A equipe de desenvolvedores por trás do projeto centrado na privacidade pretende consolidar esse tema nas próximas semanas, à medida que procura colocar um foco em torno dos ASICs habilitados em seu mecanismo de consenso baseado no CryptoNight. De comunidades a infestações de ASIC Monero, uma das primeiras altcoins de sucesso, tem sido um projeto de base desde o primeiro dia. O projeto, lançado no meio da calmaria do mercado em 2014, estava focado em fornecer fungibilidade e descentralização para internautas que tinham consciência da privacidade. Embora o projeto tivesse uma premissa sólida – uma que os descentralizadores pudessem adotar -, a adoção em estágio inicial era limitada. No entanto, desde a fatídica data de lançamento do Monero em abril de 2014, o projeto cresceu em popularidade, com seu protocolo supostamente anti-ASIC Proof of Work (PoW) permitindo que Joes e Jills comuns iniciassem suas carreiras de mineração com o pé direito. No entanto, isso mudou no final de 2017 / início de 2018, quando começaram a surgir rumores de que, em algum ponto do éter, havia quantidades copiosas de ASICs “secretos” inéditos consumindo boa parte da XMR extraída. Depois de muita deliberação e protestos da comunidade, a equipe de desenvolvimento do Monero colocou o pé no chão, revelando que estaria impondo uma espécie de proibição aos ASICs, mudando os protocolos PoW várias vezes por ano. O primeiro turno do PoW, que veio na forma de um garfo duro para toda a rede, veio em abril de 2018. Esse garfo anti-ASIC chegou bem a tempo, enquanto a Bitmain, mineradora de criptomoedas, lançou sua máquina X3 Monero apenas algumas semanas antes. O hashrate de Monero caiu de 1.000 megahashes para 150 megahashes nos dias após o garfo. O segundo fork, que veio junto com a ativação da solução de escala conhecida como “Bulletproofs”, veio em outubro. Embora não tenha sido tão bem sucedido quanto o primeiro, essa mudança na guarda do PoW reduziu a atividade de mineração da rede pela metade, de acordo com a BitInfo. O Monero pretende replicar este sucesso novamente com um evento recentemente confirmado de calibre similar. Hard Fork a 9 de Março De acordo com um recente post no Reddit da autoproclamada “ASIC Bricker,” Sech1, os desenvolvedores do Monero confirmaram que o próximo movimento para impedir a propagação de ASICs será ativado no bloco 1.788.000. Em uma discussão em grupo, o desenvolvedor Moneromoo divulgou que a bifurcação será ativada na ramificação 0.13 do projeto, o que significa que, além do sistema PoW atualizado, nenhum novo recurso notável verá a ativação. Se a história é um indicador, a bifurcação prevista para acontecer em 9 de março – a apenas quatro semanas de distância – o hashrate do Monero despencará, conforme ASICs rodando a mais recente iteração do blockchain CryptoNight se tornar redundante pela terceira vez em um ano. A decisão de seguir em frente com esse garfo difícil surge quando a pesquisa da MoneroCrusher, um analista do setor sob pseudônimo, revelou que, do jeito que está, mais de 85% da atividade de mineração atual poderia ser apoiada por XMR ASICs. Em um estudo aprofundado publicado no Medium, o pesquisador independente afirmou que depois de analisar as nonces, um número aleatório gerado no processo de mineração, surgiu um padrão. Depois de escavar ainda mais, a MoneroCrusher determinou que o padrão nonce mostrado nos blocos Monero nos últimos meses indicava que um número substancial de ASICs estava sendo eliminado, adquirindo XMR no processo. Na verdade, usando dados de outro analista, a SChernykh, e o Laboratório de Pesquisas Noncesense, a MoneroCrusher concluiu que aproximadamente 5.400 peças de equipamentos de mineração especializados atualmente têm uma posição na cadeia. Mas prepare-se para assistir a essa queda no número em 9 de março. fonte: blockonomi
Bitcoin Hashrate Stabilizing Near 35 Exahash/s After 29 Percent Drop in Mining Difficulty
https://preview.redd.it/v4fhelfwby521.png?width=690&format=png&auto=webp&s=51d0d741515616618e7a201e5376a8d8abf1682d https://cryptoiq.co/bitcoin-hashrate-stabilizing-near-35-exahash-s-after-29-percent-drop-in-mining-difficulty/ Bitcoin’s hashrate had been rising exponentially from 2009 through mid-2018, increasing through the megahash (M/H), gigahash (G/H), terrahash (T/H), petahash (P/H), and exahash (E/H) ranges. The hashrate first exceeded 60 EH/s in August 2018, and then the exponential increase gave way to stabilization. In September and October 2018, the hashrate remained stable, averaging above 50 EH/s, simultaneous with the price of Bitcoin being stable near $6,500. Then the price of Bitcoin plummeted starting in mid-November to as low as $3,100 in December. The hashrate of Bitcoin collapsed to 32 EH/s during this market crash, implicitly indicating 20-30 EH/s being forced offline due to a lack of profitability, which represents billions of dollars of equipment. However, the collapse in hashrate may be coming to an end, at least for now, due to the price of Bitcoin rising back to the $4,000 level combined with a 29 percent decrease in mining difficulty. https://preview.redd.it/fn5itizzby521.png?width=512&format=png&auto=webp&s=8b65208f22986a6c5409d40255a20e805354d121 As can be seen in the chart, Bitcoin’s hashrate appears to have stabilized in December, breaking the trend of constant decline. There are two factors that are bringing about stabilization. First off, the price of Bitcoin has stopped decreasing and has risen back to where it was at the beginning of December near $4,000. A stable Bitcoin price is a necessary ingredient for a stable hashrate. More importantly, the mining difficulty of Bitcoin has dropped from 7.184 trillion to 5.106 trillion, a 29 percent decline, which makes Bitcoin mining 29 percent more profitable per unit of hashrate. As long as price does not continue to fall Bitcoin will find an equilbrium hashrate since difficulty adjusts downwards as miners turn off their rigs. The point at which the difficulty stops adjusting downwards is the equilibrium point, a steady state where the existing hashrate can profitably mine or break even without the loss of further hashrate. Currently ,Bitcoin’s hash rate is near 36 EH/s, which would yield a 2.6 percent increase in difficulty if the difficulty re-adjustment happened now. This suggests that the equilibrium level for Bitcoin’s hashrate, at least at the current Bitcoin price of $4,000, is right around the current hashrate. That being said, the price of Bitcoin going up or down can rapidly change the situation. If Bitcoin retraces back towards $3,000, then the hashrate is likely to fall further, and if it rallies strongly then the rigs that were turned off would quickly be switched on again. The fact that there are 20-30 EH/s of rigs shutoff makes the future a bit gloomy for Bitcoin miners, since increases in Bitcoin’s price will not lead to higher profits for miners until all of those rigs are switched back on. There used to be a lag effect between Bitcoin’s price rise and the switching on of new rigs, which allowed miners to make bigger profits before difficulty adjusted upwards. Until the hashrate exceeds 60 EH/s, the time it takes to switch on the dormant rigs will be instant, whereas before miners had to wait weeks or months to order rigs and then switch them on. Based on the data, Bitcoin would probably have to be at $7,000 or higher before Bitcoin miners start seeing increased profit margins. Looking at the broader picture though, it is certainly good news that the Bitcoin mining hashrate has stopped going down since this means Bitcoin will continue to be extremely secure and decentralized. A rapidly dwindling hashrate would make Bitcoin less secure and more centralized, two factors that would threaten Bitcoin’s reputation.
Bitcoin Gold, Jack Liao’nun fikriyle ortaya atılan bir Bitcoin çatalı. Bu koinin amacı ise, “Bitcoin’den daha iyi olmak.” Bu hedefi gerçekleştirmek adına, Bitcoin’den farklı olarak Bitcoin Gold, merkezi madenci sorununu, “Proof-of-Work,” yani bir nevi “yapılan madenciliğin ispatı” üzerinde değişim yaparak giderecek. Proof-of-Work yöntemlerini değiştirmek genelde bir hardfork gerektiriyor, ve Bitcoin Gold, bu değişimi yapmayı tercih etmiş. Seçtikleri proof-of-work protokolü ise, aynı zamanda ZCash tarafından kullanılan “Equihash.” Bu madencilik protokolünün asıl amacı, Antminer gibi ASIC(Uygulamaya Özel Tümleşik Devre) cihazlarının kullanımına engel olmak. Böylece kullanıcılar, CPU ve GPU’larını kullanarak tekrardan madencilik yapma imkanına sahip olacak. Bitcoin Gold geliştiricileri, koin çıkmadan önce, %1 maden seviyesine erişmeyi planlıyor. Bunu nasıl yapacakları ise merak konusu. Ancak 21 milyon koin limiti olduğunu göz önünde bulundurursak, madencilik sırasında verilen ödüllerden faydalanabilirler gibi görünüyor.
ASIC engelinin önemi
Üstte de açıkladığımız gibi ASIC cihazları basitçe, tek bir uygulamaya özel tasarlanmış işlemciler. CPU’lardan farkı ise, yüzlerce farklı işlem yerine, tek bir işlemi çok yüksek bir verimlilik seviyesinde yapabilmeleri. Bitcoin’in madencilik piyasası, şu anda ASIC’ler tarafından süpürülmüş durumda. Bu cihazları geliştiren firmaların başında Bitmain, Bitfury ve Canaan geliyor. ASIC’lerin kullanılmasının mümkün olması, Bitcoin madenciliğinde kullanılan SHA256 adlı Proof-of-Work protokolü. Bu fonksiyon, günümüz teknolojisine göre oldukça basit kalıyor, ve çok fazla RAM ihtiyacı yok. Aslında bu fonksiyon o kadar basit ki, sadece kağıt, kalem, ve aklınızı kullanarak düşük bir hızda da olsa Bitcoin madenciliği yapabilirsiniz. Ancak Bitcoin Gold ile gelen Equihash, oldukça kompleks bir hashing algoritması, ve fazla miktarda RAM gerektiriyor. Bu da Equihash için yapılabilecek ASIC’lerin oldukça pahalıya mal olacağı anlamına geliyor. Aynı zamanda, eğer Equihash için bir ASIC yapılırsa, madencilik hızı normal bir kullanıcının bilgisayarından çok da hızlı olmayacaktır. SHA256 protokolünü kullanarak, ortalama bir CPU saniyede 5–10 megahash hıza ulaşabilir. ASIC’ler ise aynı işlemi saniyede 5–10 terahash hızında yapabiliyor. Bu da normal bilgisayarlardan 1 milyon kat daha fazla madencilik işlemi anlamına geliyor. Ancak Equihash, CPU’larda saniyede 10–30 hash, buna özel tasarlanmış bir devrede ise saniyede 1000–3000hash hızında işlem yapabiliyor. Bu da sadece100 kat daha fazla işleme eşit. Başka bir deyişle, madencilik işlemleri bilgisayarlar ve ASIC’ler arasında SHA256’ya göre çok daha eşit olacak. Equihash, SHA256 kadar kazanç elde ettiren bir protokol olsaydı bu belki değişebilir, ancak böyle birşey mümkün görünmüyor. Geliştiriciler aynı zamanda ataklar için oldukça güçlü bir koruma planlamış, yani Bitcoin Gold’un gönderimi sırasında herhangi bir saldırıdan korkmanıza gerek yok. Ancak, Bitcoin Gold’u transfer etmek için bir cüzdan indirmeniz ya da bu transferleri manuel bir şekilde yapmanız gerekebilir. Bitcoin Gold’un fiyatı yüksek olmazsa(örneğin 10000 Satoshi, ya da $0.48) geliştiriciler üzerinde çalışmayacaktır. Ancak iyi bir fiyata(0.01BTC ya da $48gibi) sahip olursa, o zaman piyasaya sürülen dijital cüzdanlar görmemiz mümkün olabilir, böylece Bitcoin Gold’unuza erişebilirsiniz. Vebitcoin.com sitesinden almak için lütfen inceleyiniz
There has been a lot of talk about botnets, and potential solutions to help improve the profitability of mining XMR. I want to help shed some light on this. This post is my attempt to take a look at one of the proposed solutions and to clear up some misunderstandings surrounding this problem. I do want to preface this by saying that I really don't know shit about shit. I a 21 year old college kid who like to pretend I can write code. I don't have any real knowledge on the matter, so take what I say with a grain of salt. Make Monero work only on GPUs, and still be ASIC Resistant So, this is a fun idea, but I think it is rooted in some misunderstandings about what is actually going on under the hood of the CryptoNote algorithm. The first thing that I want to touch on is this idea of "ASIC Resistance" because I think it is a little misleading. People think that there is some magic "scratchpad" that makes BitMain and other ASIC companies shake in their boots. This is just silly. Monero is not ASIC resistant. Let me repeat that: MONERO IS NOT ASIC RESISTANT, and to help illustrate this point it is helpful to think about some other algorithms like SHA256 or Scrypt. Think about these algorithms for a little bit. They were invented before the hardware that implemented them was produced. That is why people could straigh up mine Bitcoin back in the day. SHA256 existed, but then some smart engineers figured out how to make a chip that would run that algorithm faster. Same thing with Blake2s or Scrypt, algorithms came, engineers made hardware to suit it. CryptoNote, however, went in the opposite direction. For Bitcoin people fine tuned hardware to fit the algorithm, the CryptoNote developers on the other hand fine tuned their algorithm to fit the hardware. When people say
Monero is ASIC resistant
They think that this means that nobody will be able to build an ASIC to mine for the token. However, what they are actually saying is
The ASICs for Monero already exists, and it is everywhere. Everyone already has the Monero ASIC in their home PC.
See, people think that Monero is some special unicorn, and that companies like BitMain, Intel, or Nvidia are not able to outsmart the algorithm to make any "real ASICs." That is just not true. If Intel wanted, they could make a machine tomorrow that would crunch a few megahashes per second. So could Nvidia, or AMD, or BitMain. The reason that they dont is because fast memory is expensive. Any of them could make such a product, they dont because nobody would buy it. It would cost so so so much more than you would ever make mining with it. Monero is only "ASIC resistant" because the supply of fast memoery is low, if this changes then Monero if fucked. CryptoNote is a proof-of-work algorithm, yes, but really it is more like a proof-of-memory-speed algorithm. You can 100% make an ASIC for that. This brings be to why the algorithm cannot be "fixed" to work well on GPUs while still being ASIC resistant. GPUs have slow memory. If you take a proof-of-fast memory algorithm and make it work better on slow memory then you will be trading the only thing that makes it "ASIC Resistant". They are mutually exclusive. It literally cannot both be optimized for GPUs while still keeping BitMain out; because BitMain essentially makes optimized GPUs. In closing It is just not a thing. If I got anything wrong absolutely call me out, I want this post to help bring understanding and if is is actually just muddying the water i will take it down :D Let me know your thoughts :D Edit: Here, when i use the term ASIC i am loosely saying "the most profitable machine to mine for a token"
4 lost bitcoin from 2011 help!! I have a trail but not a big enough brain to follow it. Reward if found.
I am an early miner (megahash days) using 2 GPUs. I mined for a while stacked up a few coins. I never given any away or bought anything with them but for some reason I transferred 4 BTC to an address that moved them around a lot in the coming days. Is there a way to track/sort out who I sent it to? I’m thinking it was my slushpool account or something. Maybe an exchange? I guess I want to know if it’s possible for me to figure out where I sent them or what exchange and I can recover an account. Thanks in advance, Update: I think I may have had a tradehill account. I have an email where I am asking their support to recover my bitcoins shortly after they stopped trading. Any news/word on tradehill? I can’t find anything.
https://preview.redd.it/5r9soz2ltq421.jpg?width=268&format=pjpg&auto=webp&s=6a89685f735b53ec1573eefe08c8646970de8124 What is Bitcoin? Bitcoin is an experimental system of transfer and verification of property based on a network of peer to peer without any central authority. The initial application and the main innovation of the Bitcoin network is a system of digital currency decentralized unit of account is bitcoin. Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions in a collective and automatic way. As a free Protocol (open source), it also allows interoperability of software and services that use it. As a currency bitcoin is both a medium of payment and a store of value. Bitcoin is designed to self-regulate. The limited inflation of the Bitcoin system is distributed homogeneously by computing the network power, and will be limited to 21 million divisible units up to the eighth decimal place. The functioning of the Exchange is secured by a general organization that everyone can examine, because everything is public: the basic protocols, cryptographic algorithms, programs making them operational, the data of accounts and discussions of the developers. The possession of bitcoins is materialized by a sequence of numbers and letters that make up a virtual key allowing the expenditure of bitcoins associated with him on the registry. A person may hold several key compiled in a 'Bitcoin Wallet ', 'Keychain' web, software or hardware which allows access to the network in order to make transactions. Key to check the balance in bitcoins and public keys to receive payments. It contains also (often encrypted way) the private key associated with the public key. These private keys must remain secret, because their owner can spend bitcoins associated with them on the register. All support (keyrings) agrees to maintain the sequence of symbols constituting your keychain: paper, USB, memory stick, etc. With appropriate software, you can manage your assets on your computer or your phone. Bitcoin on an account, to either a holder of bitcoins in has given you, for example in Exchange for property, either go through an Exchange platform that converts conventional currencies in bitcoins, is earned by participating in the operations of collective control of the currency. The sources of Bitcoin codes have been released under an open source license MIT which allows to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the software, subject to insert a copyright notice into all copies. Bitcoin creator, Satoshi Nakamoto What is the Mining of bitcoin? Technical details : During mining, your computer performs cryptographic hashes (two successive SHA256) on what is called a header block. For each new hash, mining software uses a different random number that called Nuncio. According to the content of the block and the nonce value typically used to express the current target. This number is called the difficulty of mining. The difficulty of mining is calculated by comparing how much it is difficult to generate a block compared to the first created block. This means that a difficulty of 70000 is 70000 times more effort that it took to Satoshi Nakamoto to generate the first block. Where mining was much slower and poorly optimized. The difficulty changes each 2016 blocks. The network tries to assign the difficulty in such a way that global computing power takes exactly 14 days to generate 2016 blocks. That's why the difficulty increases along with the power of the network. Material : In the beginning, mining with a processor (CPU) was the only way to undermine bitcoins. (GPU) graphics cards have possibly replaced the CPU due to their nature, which allowed an increase between 50 x to 100 x in computing power by using less electricity by megahash compared to a CPU. Although any modern GPU can be used to make the mining, the brand AMD GPU architecture has proved to be far superior to nVidia to undermine bitcoins and the ATI Radeon HD 5870 card was the most economical for a time. For a more complete list of graphics cards and their performance, see Wiki Bitcoin: comparison of mining equipment In the same way that transition CPU to GPU, the world of mining has evolved into the use of the Field Programmable Gate Arrays (FPGA) as a mining platform. Although FPGAs did not offer an increase of 50 x to 100 x speed of calculation as the transition from CPU to GPU, they offered a better energy efficiency. A typical HD/s 600 graphics card consumes about 400w of power, while a typical FPGA device can offer a rate of hash of 826 MH/s to 80w of power consumption, a gain of 5 x more calculations for the same energy power. Since energy efficiency is a key factor in the profitability of mining, it was an important step for the GPU to FPGA migration for many people. The world of the mining of bitcoin is now migrating to the Application Specific Integrated Circuit (ASIC). An ASIC is a chip designed specifically to accomplish a single task. Unlike FPGAs, an ASIC is unable to be reprogrammed for other tasks. An ASIC designed to undermine bitcoins cannot and will not do anything else than to undermine bitcoins. The stiffness of an ASIC allows us to offer an increase of 100 x computing power while reducing power consumption compared to all other technologies. For example, a classic device to offer 60 GH/s (1 hashes equals 1000 Megahash. 1GH/s = 1000 Mh/s) while consuming 60w of electricity. Compared to the GPU, it is an increase in computing power of 100 x and a reduction of power consumption by a factor of 7. Unlike the generations of technologies that have preceded the ASIC, ASIC is the "end of the line" when we talk about important technology change. The CPUs have been replaced by the GPUs, themselves replaced by FPGAs that were replaced by ASICs. There is nothing that can replace the ASICs now or in the immediate future. There will be technological refinements in ASIC products, and improvements in energy efficiency, but nothing that may match increased from 50 x to 100 x the computing power or a 7 x reduction in power consumption compared with the previous technology. Which means that the energy efficiency of an ASIC device is the only important factor of all product ASIC, since the estimated lifetime of an ASIC device is superior to the entire history of the mining of bitcoin. It is conceivable that a purchased ASIC device today is still in operation in two years if the unit still offers a profitable enough economic to keep power consumption. The profitability of mining is also determined by the value of bitcoin but in all cases, more a device has a good energy efficiency, it is profitable. Software : There are two ways to make mining: by yourself or as part of a team (a pool). If you are mining for yourself, you must install the Bitcoin software and configure it to JSON-RPC (see: run Bitcoin). The other option is to join a pool. There are multiple available pools. With a pool, the profit generated by any block generated by a member of the team is split between all members of the team. The advantage of joining a team is to increase the frequency and stability of earnings (this is called reduce the variance) but gains will be lower. In the end, you will earn the same amount with the two approaches. Undermine solo allows you to receive earnings huge but very infrequent, while miner with a pool can offer you small stable and steady gains. Once you have your software configured or that you have joined a pool, the next step is to configure the mining software. The software the most populare for ASIC/FPGA/GPU currently is CGminer or a derivative designed specifically for FPGAS and ASICs, BFGMiner. If you want a quick overview of mining without install any software, try Bitcoin Plus, a Bitcoin minor running in your browser with your CPU. It is not profitable to make serious mining, but it is a good demonstration of the principle of the mining team.
Is bitcoin mining still profitable? (new to btc mining)
So im new to bitcoin mining i tried it on my gaming rig and i only got around 24 megahashes which is pretty bad. I want to try bitcoin mining but im jobless right now and i dont have much money laying so i thought can you start mining bitcoin with 100€? Electricity here costs around .10 usd per kilowatt. Some people said that ati radeon cards are good for mining so im thinking about buying one. Should i save up for a special miner or? Also should i use my gpu and my cpu at the same time to mine?
Help me understand NiceHash statistics chart (the units).
I am specifically interested in labels (near mouse) on the following screen: http://i.imgur.com/uwmI0P8.png First says: Paying: 4.2908 BTC/MSol/Day Second says: Hashing speed: 25.26 MSol/s And my interpretation of them: First: NiceHash is paying me 4.2908 Bitcoins for one Megahash (Mega solution) per day. So if I understand it right: If I could deliver MSol (Megahash) per every day, I would earn 4.2908 bitcoins (probably minus fee) every day. Second: As this number is very large (and in MSol/s unit!) I assume that this is currently available hashing speed (from all active miners). Do I understand those right?
Why are the mining calculators in kilohashes per second?
Obviously, nobody is gonna seriously mine in kilohashes unless its 999 kilohashes per second. Why don't they just put it in megahashes or gigahashes? Because no matter how much I check my math, I always end up with the results of something like 100 dollars a day for .9 gigahashes that cost about 8 dollars. EDIT TO EVERYBODY SAYING ITS VERY HARD TO MINE PAST THE KILOHASHES, I AM CLOUD MINING AND I HAVE ALMOST 1 GIGAHASH AND I'M STILL TRYING TO CALCULATE THE DOGECOINS I GET PER DAY
I mined a little while a few months ago with my AMD Radeon HD 6990, but only managed to scramble together 0.02 bitcoins (I mined in Slush's pool) And that was a few months ago, is the video card mining outrun by the dedicated miners that mines at many gigahashes? My card mined at approximately 700 megahash.
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A generous Nekonaut just donated almost 1 BTC to Cryptsy Votes,that made us be the 7th place there.Our community must do something to help our little nyancoin added on Cryptsy,we deserve that!!If 1/5 of Nekonauts(nearly 200) donate 0.01BTC each to Cryptsy will let us achieve this goal! (18 points, 22 comments)
GAME OF NYANCAT, Episode 4... Thousands of Nyancoins to win this weekend, for free! Choose your kingdom, choose your job, and claim your share of the treasure: Let's make this the biggest game yet! by americanpegasus (28 points, 274 comments)
Nyancoin V 1.2 Out Now! Kimoto Gravity Well Implemented! MANDATORY UPDATE by nyancoin (28 points, 28 comments)
WARNING: LOGIC AND LONG READING AND OPINIONS AHEAD TL;DR at bottom. (Too long, didn't read) I think that cloud mining just isn't ready. There are a few reasons why, and I will go over them right now. Cloud mining isn't ready because it's a vey new method and idea. There are some pros and cons of cloud mining, but at this point I see most of them as cons. There are lots of them and I don't feel like gonig through them all but I will go through the important ones. Cloud mining is, face it, expensive as hell. All my sources are of ZeusHash wich seem to be the lowest prices. It is 16 dollars per Megahash. Doing that calculations; this would pay off in about 142 days (litecoin) and that is if the exchange rates stay the same. I have absolutely no patience as most people. If you really want to do the math, you would earn eleven cents (USD) every day. That seems like a lot until the exchange rate changes. Sure, you don't have to manage the hardware and power costs, but here are the cons. You can't modify the hardware or overclock anything. All you see is the "main screen" and you can't see so much as the tempature of the hardware. Power costs? As far as I'm concerned, I can just put a solar pannel on my roof and be on my jolly way. The worst part? It takes away the fun of figuring out computer parts, and you actually have to wear pants (to work) if you want to when Cloud Mining takes over (nerds will understand, we love putting stuff together). Instead of walking upstairs to trobuleshoot, you would have to go contact the host and run through that. If you are mining alone, the only fees you are paying are the pool fees (if any). You can also point your miners to anything that you want. With cloud mining, the only options seem to be Bitcoin (and Litecoin on ZeusHash). With your own miners, you can point them to any coin in any pool. You can make them mine for a multi-pool and you aren't stuck with one pool. You are way more free with your hashing power as you should be. This is how I think cloud mining should run: You buy the miners. You can choose the pool and change it at any time. Overclocking adds a fee, but a very small one at that. You can set custom payouts, and point your miners to whatever. This is how cloud mining really runs: You can't choose your pool or coin. You have no option of when the payouts are, and you can't change the pools. At this point in time, cloud mining isn't ready. Don't sell your miners and keep them running. Here's what I am doing: TL;DR: I'm just buying a TINY bit of hashing power to support the whole idea of Cloud Mining and making it better, but I'll keep my Gaw Miner Fury's running at 2.5 mh/s earning me 28 cents (USD) per day. It's a good idea and it's changing fast. It will be good in the future, but now is not the time to be dumping EVERYTHING into it. As always, to the moon!
CNBC: Nvidia To Launch Graphics Cards Specifically Designed For Digital Currency Mining
This is the best tl;dr I could make, original reduced by 56%. (I'm a bot)
Nvidia, the market's best-performing stock, is going to launch graphics cards specifically designed for cryptocurrency mining through its partners. Product listings for Nvidia-based and AMD-based cryptocurrency mining cards recently appeared on the website of ASUS, a leading maker of graphics cards. "ASUS Mining P106 is designed for coin mining with high-efficiency components - delivering maximum hash-rate production at minimum cost," the product listing said. "ASUS Mining P106 enhances the megahash rate by up to 36% compared cards in the same segment that are not tailored for mining. The new card is also engineered to be seriously durable, enabling 24/7 operation for uninterrupted coin production." Nvidia, AMD and ASUS have not officially announced the digital currency mining cards, according to their website press pages. Cryptocurrency miners use graphics cards from both companies to "Mine" new coins, which can then be sold or held for future appreciation.
So say that I have a device that is operating a given frequency. For easy math, one hertz (one cycle per second). For each hertz, it uses one watt more. Therefore, its energy efficiency is 1W/Hz. Obviously, this could be simplified to 1 J/cycle, or 1 cycle/J. However, if the people I'm talking to don't know the unit "watt" or "cycle", and I want to write 1 J/s/cycle/s, what's the best way to do this? Do I use parenthesis around each part [ex. 1 (J/s)/(Cycle/s)]? Or say they know the term "watt", but not "hertz". Would that be: 1 W/(Cycle/s)? I know this sounds trivial, but the application here is in bitcoin mining, where you measure MH/s/$ and MH/J (but nobody know MH on its own, or J on its own, so you have to do MH/s/J/s). Note that MH = megahashes = million hashes (which is the analog of cycles in the example).
Shibes, now is the time to build our own rocket to the moon! And this is how:
Right now we are in an interesting discussion about our future – the future of our beloved dogechain. It's the backbone of our economy. Every tiny shibe uses the same playground to play and dig and to have all this fun. Lately, as i'm sure every shibe noticed, we got an offer from litecoin to merge our mining. First of all, thank you ! Thats very kind. But in my honest opinion, i think we are strong enough to stand on our own little paws. We don't need a bigger brother, who protects us when we are in trouble or someone wants to do us harm. We are already strong enough to protect us on our own. And we found good friends in the playground, like the good guys from Digibyte. But we have to be aware of our future. We have to defend ourself when we are threatened. We have to protect our dogechain. The critical point is reached, when our blockreward is not enough to keep all the miners digging. The less people dig, the lower is our security of our dogechain. Especially when the first asic miners get released and only a few of them can totally overcome our global hashrate. Yes, we can fight them if we change our algorithm to sCrypt-n, or Keccak, or X11, or... We become a pure PoS Coin after the last block halving. In my opinion we should get rid of the old PoW system, after the point we are fully mined out (our blockreward hits 10k coins). Instead we should change to pure PoS with an interest of 1-5% per year. This would favour every shibe who believes in our coin. Just imagine the crazy buying and mining mania after everyone understands that dogecoins are limited. It would also make our blockchain safe to 51% PoW attacks! This would also allow everyone to participate in the network, practically you could PoS mine with every smartphone or laptop or tablet, you just need your wallet on the device ! Every shibe can participate !! And for our well experienced digging shibes, we could start our own Doge-Multipool for every other hash algorythm. Right now our network is at 80 gigahash ! Thats 80000 megahash, or in other words: 360(!) bitcoin buying power every day! (if you calculate with 0,0045 btc/mh) Now imagine that people pour 200k dollar in our economy every day. We can create Doge-Multipools for sCrypt-n, X11, Keccak or even Sha256! Imagine people to mine bitcoins, just to get paid out in dogecoins! Doesn't that sound to good to be true ? Well maybe, but we have 1 year in front of us to build our rocket. And i honestly think, that this is the most efficient rocket to fly us to the moon. All of us ! Wex <3
The difficulty level is a number expressing 'how difficult' it is to find a new block. Difficulty changes approximately every two weeks. Current value is updated every 2 hours from Bitcoin Block Explorer: more on difficulty Bitcoin Block Explorer: hash rate: Specify how many mega-hashes per second each worker (graphics card or cpu) is able to Hashrate (Hash per second, h/s) is an SI-derived unit representing the number of double SHA-256 computations performed in one second in the bitcoin network for cryptocurrency mining. Hashrate is also called as hashing power. It is usually symbolized as h/s (with an appropriate SI prefix). #MetaHash is a next-generation network based on the Blockchain 4.0 technology for sharing digital assets and a platform for creating and managing decentralized apps and services in real-time Mine the cryptocurrencies Bitcoin, Dash, Litecoin, Zcash, Ethereum, & more based on the sha256, x11 & scypt algorithm. Check out our pricing plans today! Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. What is a megahash and how is it used to estimate the rate at which bitcoins are mined? Ask Question Asked 7 years ago. Active 4 years, 2 months ago.
For example, a good bitcoin miner like the Monarch from Butterfly Labs provides 600 GH/s (1 Gigahash is 1000 Megahash. 1 GH/s = 1000 MH/s) while consuming 350w of power. Super Custom BitCoin/LiteCoin Mining Rig 2.0 - Tech Tips - Duration: 7:44. NCIX Tech Tips 483,473 views. 7:44. Quick update for the RX VEGA MINING SERIES! I will be adding a third card to this mining rig and it will be the Vega 64 liquid cooled. I will make a video sh... #bitcoin #twitter #crypto #interest #stockmarket #recession #bearmarket #bullmarket #davincij15 #mmcrypto #btc #bitcoinprice #bitcointoday #crash #economy #inflation #ecb #fed #federalreserve # ... Megahash Mining is one of Singapore's leading cryptocurrency mining companies with 16,000 sq ft of hosting space. Calling out to all Singaporean GPU and ASIC miners! Join us and host at our ...