Antminer S2 mining calculator ⛏️ | minerstat

BitcoinZ: A community gift to the world.

BitcoinZ, a cryptocurrency based on bitcoin + zkSNARKs
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Bminer is a highly optimized cryptocurrency miner that runs on modern NVIDIA GPUs

A subreddit, for people using Bminer for mining that want to share knowledge, configs, and advice to others.
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VeriCoin

The home for the most innovative cryptocurrency, VeriCoin and Verium VeriCoin: Proof-of-Stake-Time Protocol. PoST Verified. Verium: Proof-of-Work-Time Protocol. PoWT Verified. CPU Mine-able (GPU and ASIC Resistant)
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Best place to sell a used miner for bitcoin? (Antminer S2, stock, 900TH/s, asking about 1.1btc OBO.

UPS shipping included. I'm not really sure what it's worth at this point, it's been a total lose so far. I'm including domestic (USA) UPS shipping.
submitted by Bipolarruledout to BitcoinMining [link] [comments]

Cybtc Review: Bitmain Antminer S15-28TH/s

Cybtc Review: Bitmain Antminer S15-28TH/s
Bitmain is a technology company specializing in high-speed, low-power custom chip design and development, successfully designed and produced a variety of ASIC custom chips and integrated systems. Bitmain was founded in 2013. In the same year, it launched the first generation bitcoin mining machine of the ant mining machine series - Antminer S1. After more than five years of development, the antminer series bitcoin mining machine passed S1, S2, S3, S4 Iterations of multiple models of S5, S7 and S9, the latest bitcoin mining models are S15 and T15, which will be sold on November 8, 2018.

The Antminer S15 adopts a new 7nm chip process. The official evaluation of the S15 is durable, energy saving. Emphasizing the characteristics of "high performance, more durable, and more power saving". From the officially announced parameters, the Antminer S15 is built in. Standard and low-power mining modes. The officially announced parameters have a unit-to-power ratio of 57J/T in standard mode, and the unit-to-power ratio of low-power mode has reached 50J/T. Compared to the products in the current market, in terms of Bitcoin miners, this unit power consumption ratio has set a new record.

Antminer S15 official parameters,

https://preview.redd.it/9fgwfaqp6bd21.jpg?width=1015&format=pjpg&auto=webp&s=8239da7bcece1abb80f1fb56708e02fa111a150b

Recently, the Antminer S15 has sent to Cybtc for testing. Please see the third-party independent review by us.

I. Unpacking:

Because the Antminer S15 adopts a new all-in-one and parallel fan design, the packaging box has changed from the previous generations. The previous cuboid has changed into a square-like style. The packaging material is still packaged in an industrial carton, and the box is marked manufacturer information, logistics warehousing logo, mining machine specification model and strip identification code, outer box size: 486*388*265, weight about 8.7kg.

The interior of the two pieces of styrofoam is firmly packed in the box from the upper and lower sides to ensure the safety of the mining machine during transportation. There is also a gap around the pearl foam for easy access.

Take out the styrofoam on one side to see the main body of the mining machine. The mining machine is wrapped by an anti-electrostatic bag. Compared with the box, the mining machine looks very small and only takes up about half of the box space.

The Antminer S15 changed the style of single-tube with double cooling fans as S1-S9 models, and became a dual-fan parallel single-side air intake and adopted the integrated machine design of the mining machine + power supply. The whole machine size is 279*175*221mm, weight 7.13 kg.

https://preview.redd.it/k0xp89yy6bd21.jpg?width=640&format=pjpg&auto=webp&s=5504d958a4cc6fdb1c01783b777e60483ea7ef9a

The Antminer S15 is small and neat, the air inlet side and the mining machine interface side are on the same side, the fan is removed from the air outlet side, and a honeycomb-shaped baffle is used.

https://preview.redd.it/ex187jf27bd21.jpg?width=640&format=pjpg&auto=webp&s=e8210c514e186dae075d9b986f7682a49141aa6a

The advantage of the all-in-one design is that the wire connection is reduced. The appearance of the mining machine is more compact, and the use and operation and maintenance are more convenient. The connection between the Antminer S15 mining machine and the power supply uses a clip-connected design, and the controller and the power board are still connected by flat signal cable.

https://preview.redd.it/85cz4u4c7bd21.jpg?width=640&format=pjpg&auto=webp&s=ab87c2f4c2943f0e9eb3dbbe2576f9d043add399

The nameplate of the mining machine body is marked with the model number, hash rate, and identification bar code. If the bottom part can increase the anti-slip mat, it is better to strengthen the stability of the mining machine when it is placed horizontally. The mining machine supports the erect and horizontal two ways. On the rack, the miner can choose the placement method according to the size of the mine rack.

https://preview.redd.it/wxavyize7bd21.jpg?width=640&format=pjpg&auto=webp&s=5ab2335eabb3b13731284f89805abcb131bfbda4

II. Antminer S15 installation:

The design of the Antminer S15 all-in-one machine reduces the link of the power line of the plugging and unloading machine. As long as it is placed in the rack, plug in the power cable and the network cable to complete the hardware installation.

Find the mine IP address. Antminer S15 mining machine is automatically assigned IP mode, you can enter the local router to view the IP address named "antMiner".

Or use the ant official mining machine management software BitmainMinerTool to scan the IP address of the current mining machine. You can also use the management software to set the mining pool address and worker name, update the firmware, etc. When the number of mining machines is large, you can also use the mining machine. IP report button to find the IP address of the mining machine.

To view the real-time status of a single mining machine, you need to enter the mining machine control page. First, enter the mining machine IP into the control page home page, and then enter the default user name and password (the default is root) to enter the mining machine control page.

The new mining machine needs to modify the name of the mining pool and miners, click on the “Miner Configuration” page to modify the main mining pool address and worker name, and modify the two alternate mining pool addresses and miners' names as needed. Antminer S15 has built-in standard and low-power mining modes, so you can easily select any mode mining on this page according to your needs. After each setting is completed, click “Save&Apply” to save the settings and apply.

After saving, the miner will restart the mining procedure. After about a few minutes of normal operation of the mining machine, you can enter the mining operation interface “Miner Status” to check the operation of the mining machine, including running time, hash rate, Chip status, operating frequency, PCB board and chip temperature, fan speed and other parameters information.

III. Review:

The Antminer S15 has standard mining mode and low power consumption mode. Therefore, we tested the two modes for 24 hours respectively. The test environment temperature is about 17 degrees, and the noise value is around 36 decibels.

https://preview.redd.it/2wzornwmabd21.jpg?width=640&format=pjpg&auto=webp&s=62e6e57755d70d526eeda4066a31b042473871a8

After the mining machine is turned on, the fan runs at full speed, the power consumption of the boot is about 25W and further increases slowly, and the noise level is up to 81.2 dB.

Standard mode test

Power consumption: The miner's chip is fully operational, and the control page power is 28T. The measured power consumption of the miner is 1610-1620W, which is in line with the officially announced 1596W ±7% level.

Noise: Due to the low ambient temperature, the number of fan rotations is basically stable at around 3120 rpm. The noise value of the operating environment is measured to be 76.5 decibels. The distance of the mine is 27.7 meters, and the noise level is properly controlled.

Temperature: Antminer S15 has a total of four mining boards. There are four temperature-sensing modules distributed on each calculation board. The chip temperature is at least 44 degrees and the highest is 78 degrees. Thanks to the Exposed Die package, the outlet temperature is about 42 degrees. The power outlet temperature is about 28 degrees.

https://preview.redd.it/h71plzf0bbd21.jpg?width=641&format=pjpg&auto=webp&s=588728e6a87b510d5cc65eb41a1ffe80d6435f17

Because the Antminer S15 adopts the one-piece design, We also test the contact temperature of the power supply and the mining machine's power board. It can be clearly seen that the temperature values ​​of each point are different.

https://preview.redd.it/4ghcl4i3bbd21.jpg?width=990&format=pjpg&auto=webp&s=a344917e4a3b529aef58127f5e5c8fdaa61c62fa

Hash rate: After 24 hours test in the btc.com mining pool, the average hash rate of the Antminer S15 in 24 hours was 28.56 TH/s. Thus calculate the unit energy efficiency ratio = 1620W / 28.56 ≈ 56.72W / T, and the official published data 57 J / T consistent.

Low power mode test

Power consumption: After checking the option behind “Low Power Mode” on the Antminer S15 Pool Settings page and saving the application, the miner can run in low power mode. After the power of the mining machine control page reaches 17T, the measured power consumption is up to 836.6W, and the running data meets the official data of 775W ±7% - 900W ±7%.

Noise: As the power and power consumption are reduced, the fan speed is basically stable at around 2400 rpm, the measured operating environment noise value is 77 decibels, and the distance measured by the mining machine is about 66 decibels at a distance of 2 meters. The noise level and the standard mode. At the same level.

Temperature: The four mining board chips have a minimum temperature of 25 degrees and a maximum of 62 degrees. The outlet temperature is about 30 degrees, which is slightly lower than the standard mode. The temperature of the power outlet is about 20 degrees.

https://preview.redd.it/r4f2ww96cbd21.jpg?width=641&format=pjpg&auto=webp&s=ae3051c74634ac9d98373d71e8fee3f542d455c5

Contact point temperature value between the power supply and mining machine mining board.
https://preview.redd.it/fskmubi8cbd21.jpg?width=990&format=pjpg&auto=webp&s=a1616d21af2b87bc0996f1ce388b3ab9983d33dd

Hash rate: After 24 hours of testing in the btc.com mine, the average 24-hour power was measured at 17.5TH/S. Thus calculate the unit energy efficiency ratio = 836.6W / 17.5 ≈ 47.8W / T, lower than the official published data 50 J / T.

IV. Summary:

Two built-in mining modes. The power consumption per unit of power in low-power mode is lower than 50W/T, which is better. The lower the power consumption ratio, the lower the price of the shutdown.
One machine design reduces the wire, beautiful and convenient.
Exposed Die package improves heat dissipation, increasing the number of chips per unit volume and reducing heat sinks, reducing overall weight.
The new AWP8 power supply is used, easy to assemble and disassemble.
The machine noise is lower and the temperature is lower than other mining machines.
The calculation power of the whole machine is stable and fluctuating.

Finally, exposed power connectors may cause problems if touch the iron on the shelf. Maybe it can have improvement.

The Antminer series mining machine has evolved from S1 to S15, and the computing power has evolved from S180's 180G/360W to S15's 28000G/1600W. This is not just a digital evolution, but also the ups and downs of the Bitcoin industry. The mining machine is upgrading. Bitcoin is advancing, leaving many stories in the chain, the currency circle and the mining ring than the ten-year journey of holding the currency. In the two-year life cycle of S9, S9's bitcoin mining machine market share is far ahead, and currently in the market background of the rising bitcoin computing power, the depressed bear market and more new mining machines, Whether the ant S15 can create a new benchmark for the bitcoin mining machine, time will give us the answer.

More miner and crypto reviews on: cybtc.org
Telegram:https://t.me/joinchat/LgPYnE1vPpXqYDVpPaQyxw
Discord:https://discord.gg/RfCZMNY

submitted by cybtc to BitcoinMining [link] [comments]

Regarding the Venezuelan user that "scammed" people here

Hey, my name is Roy, and I came here to address a delicate subject, I am not a mod, I am just a regular user, living in Venezuela, with just a simple advice; please have some common sense, I am not here to insult you, that is not my intention, the majority of Venezuelans in Reddit are very upset because of this (if you can speak spanish, or you can use google translate please have a read here), and are calling it "Viveza Criolla", we as Venezuelans DO NOT CONDONE this, that was just plain and simple a scam.
Of course with this I am not saying there are no miners in Venezuela being arrested and their miners taken away (https://news.bitcoin.com/venezuelan-bitcoin-miners-bribed-thrown-jail-secret-police/) --- (https://www.marketwatch.com/story/venezuelan-authorities-arrest-4-bitcoin-miners-2017-01-26) --- (https://www.ccn.com/report-two-venezuelans-arrested-mining-bitcoin/), but there are very punctual cases, for example, in the first case two brothers were arrested, but it all happened because they had OVER 90 MINING RIGS.
In November, Venezuela’s secret police raided the house of two brothers in Caracas and found more than 90 mining terminals. The agents demanded $1,000 in bribes for each machine, according to the brothers, who spoke on the condition of anonymity because they fear arrest. The brothers said they paid the bribes to stay in business.
On the second report, the guys had over 300 mining rigs, they had a whole hangar for them
Authorities confiscated 300 mining terminals, according to photos published on Rico’s Instagram account, Criptonoticias reported. The models included Antminer S4s, produced by Beijing-based Bitmain, and SP31 Yukons, manufactured by Israel-based Spondoolies.
On the third one, they don't state how many miners were seized but you can presume they were a lot of them
With the arrests, authorities also seized mining machines as well as four laptops.
The two bitcoin miners are awaiting prosecution at Tribunal Séptimo de Control, or the Seventh Control Court in Carabobo.
I can also tell you that the government takes these machines they seize and put them to work for them
None of the low time miners have been arrested, specially because here in Venezuela, there is absolutely NO CONTROL of the electricity consumption(which is their excuse everytime they make one of these busts, truth is, there is always someone slipping, or saying something to someone else, then it all goes from there), I can tell you for experience that none of the low time miners have been arrested and their machines seized, I have several friends up to 10 mining rigs and none of them have even been disturbed by the police, also, why was this guy's machines taken away but he was not arrested?
I am sorry I am getting off track here, about the common sense, please just look at this guys history. it's full of red flags
He claims Venezuela minimum wage is only 20$ (which was real at that time) and might make you think, oh dude, this guy is poor.
But a little over 6 months later he was trading his PSN and Amazon cards for paypal, again this is not an indication of any wrongdoing, but for a normal Venezuelan, a year ago $100, was a lot of money.
Up from there, he trades a lot of money in gifts cards, (again for a Venezuelan more than $100 is a lot of money)
He then goes to mining Ether with his rig and then he says another red flag in his post he says that he doesnt pay for electricity
After that he goes dark for like 6 months, then 14 days ago he posts this: "my dad stop giving me money for college in my first year, had to start making money by my self, still no car but I made it to the last year, but I live in Venezuela so I can't afford public transport anymore to college so he can't afford money for transportation yet recently he claimed that he has 1000$ in crypto?
Just so you know, many Venezuelans with real problems are trying to leave the country and believe me, $1000 can buy you a plane ticket, in first class. To leave the country by land in a bus to Ecuador can costs you $250
These are the prices I collected when I first started making plans to leave but they have increased since, not by much, but is still an approximate
Then 4 days ago in an assistance thread he claims that he is migrating to Chile and he has not much money
Here comes the part where he was asking for advice deciding if he should buy Antminers S2 or trade but when Gasset told him to go to charities subreddit, he posted in vzla saying "How do you manage to not kill yourself" or http://prntscr.com/i4rdc8 (in case he decides to delete it).
Also, worth nothing in the thread about killing himself he says that he is "tired of the creole' cleverness", or Viveza Criolla as said early.
AND THEN!!! Comes the big one, suddenly 14 hours ago "Police came to his house and took his miners" also, worth nothing that in his comment he says that police said they knew because of his "electricity consumption", (again HUGE red flag), or a neighbor told someone, this, while (if real) is the most likely scenario, why in the world anyone mining BTC would even tell anyone that you have miners? in a country were police is arresting miners. (Of course not for one second I believe he had them, he would be in handcuffs)
Of course he then goes to contradict himself all over, saying things like "He was planning to sell his rig for $1000 to go to chile
Then when someone gives him a tip (reddit is down i can't see how much he got) He says "You didn't have to!" (Oh poor you, you mother*****) (Sorry I am pissed off right now)
And then all hell breaks loose from then on.
As I said earlier, there are Venezuelans in real need to leave the country, and even $200 can help them leave.
Before donating to any random redditor (not only Venezuelans) please check his post history, check if his story adds up.
There was recently the case of a guy from Venezuela saying he was waiting for donations to help other Venezuelans (https://www.reddit.com/userandomizerdude that created the website https://helpvenezuelans.com/), he received 1 btc, and he vanished, his last post was from a month ago. now, those 17k could have helped a LOT of people to eat, or simply leave their country
Or better yet, if you want to help Venezuelans, donate to a Venezuelan charity https://raymasuprani.com/mas-is-more-foundation/ This one is one of the bests (there are other, it's 3 am here sorry)
I suggest you please take a second and have a little common sense.
Thank you and so sorry for ranting here, as I said, there are Venezuelans with real needs and real problems out there.
I also hope you don't label ALL Venezuelans as scammers because of one rotten apple.
Again, thank you. If you have any questions I am happy to answer, also I am sure many Venezuelans will come here to express their opinion.
Edit: Formatting

Edit 2: GODDAMMIT! Not again
submitted by Roy_Vzla to btc [link] [comments]

[Spoilers S2E11] Bitcoin, E-Coin & Cryptocurrency - Bitcoin geek here - some stuff worth knowing

Bitcoin was mentioned throughout the show again.
I'm from the Bitcoin community and we've been watching with great interest since episode 1 of this season the continual mentions of Bitcoin and ECoin. There are a few discussions of this over at Bitcoin for example.
REFERENCES TO BITCOIN:
REFERENCES TO E-COIN
COOL THINGS WORTH KNOWING
The biggest point for the show perhaps is that Bitcoin represents new money and something that makes it impossible to do all the financial trickery we saw in 2008 and see now with ECorp -- since no party can control Bitcoin, no party can use that as a fractional reserve or print new currency at will like the Fed can
So anyway it's a fascinating thing for those of us in the industry.
Thank you to Sam and whoever else put this in the program.
Cheers!
PS: any questions about crypto/ Bitcoin, ledgers and alt coins like the real versions of ECoin AMA I'm board member & former head of the largest Bitcoin organization, the Bitcoin Foundation, I'm founder of the Bitcoin Association, host of Dubai Bitcoin Conference and host of Satoshi Roundtable VIP retreat - early adopter - I breath this world -- anyone has any questions as related to the show AMA
If any producers are watching please PM me or let us know here who's idea this was and how it came about - we all love it and are fascinated - clearly this was someone who definitely understands Bitcoin - thanks again and thanks for an awesome show
submitted by bruce_fenton to MrRobot [link] [comments]

"POS stands for the future? Qtum brings deep analysis"

Each cryptocurrency will adopt some kind of consensus mechanism so that the entire distributed network can maintain synchronization. Bitcoin adopted the Proof of Work (PoW) consensus mechanism from the very beginning of its birth to achieve proof of workload through continuous digital cryptographic hash operations. Since the hashing algorithm is unidirectional, even a small change in the input data will make the output hash value completely different. If the calculated hash value satisfies certain conditions (referred to as "mining difficulty"), participants in the bitcoin network identify the workload proof. Mining difficulty is an ever-changing hash target. When the speed of network-generated blocks becomes faster, the difficulty is automatically increased to maintain the average of the entire network every 10 minutes.
 
Definition
For those who are not very familiar with the blockchain, here are some basic definitions to help understand the post:
 
PoW and Blockchain Consensus System
Through 8 years of development of Bitcoin, the security of the PoW mechanism has been confirmed. However, PoW has the following problems:
 
  1. PoW has wasted a lot of power resources and is not friendly to the environment;
  2. PoW is only economically advantageous for big people who have a lot of power (normal users can hardly mine into mines);
  3. PoW lacks incentives for users to hold or use coins;
  4. PoW has a certain risk of centralization, because miners tend to join large pools, which makes large pools have a greater influence on the network;
 
The right to benefit prove mechanism (Proof of Stake, hereinafter referred to as PoS) can solve a lot of problems among this, because it enables any user with tokens in your wallet can have the opportunity to dig mine (of course, will get mining reward). The PoS was originally proposed by Sunny King in Peercoin. It was later refined and adopted in a variety of cryptocurrencies. Among these are PoS Vasin's PoS 2.0, Larry Ren's PoS Velocity, and the recent CASPER proposed by Vlad Zamfir, as well as various other relatively unknown projects.
 
The consensus mechanism adopted by Qtum is based on PoS3.0. PoS3.0 is an upgraded version of PoS2.0, also proposed and implemented by Pavel Vasin. This article will focus on this version of the PoS implementation. Qtum made some changes based on PoS3.0, but the core consensus mechanism is basically the same.
 
For general community members and even some developers, PoS is not particularly easy to understand because there are currently fewer documents detailing how to ensure network security in networks that use only token ownership to achieve consensus. This article will elaborate on how to generate, verify, and secure the PoS blockchain in PoS3.0. The article may involve some technical knowledge, but I will try to describe it with some of the basic definitions provided in this article. But at least the reader needs to have a basic idea of ​​a UTXO-based blockchain.
 
Before introducing PoS, let me briefly introduce PoW's working mechanism, which can help the following understanding of PoS. The PoW mining process can be represented by the following pseudocode:  
While(blockhash > difficulty) { Block.nonce = block.nonce + 1 Blockhash = sha256(sha256(block)) } 
 
The hash operation used here I explained earlier, that is, to use arbitrary length data as input, after a series of operations, get a fixed-length information digest as an output, but only know the information digest but it is impossible to reverse the corresponding input data . The whole process is a lot like the lottery winning mechanism. You can create a “voucher” by hashing the data and compare it with the target hash range to determine if you “win”. If you don't win, you can create a new "voucher" again by slightly changing some of the data. The random number nonce in Bitcoin is used to adjust the input data. Once the required hash is found, the block is legitimate and can be broadcast to a distributed network. Once the other miners in the network receive this new block message and pass the verification, they will add the block to the chain and continue to build the block after the new block.
 
PoS protocol structure and rules
 
Now we begin to introduce PoS. PoS has the following goals :
  1. Cannot fake blocks;
  2. "Large households" will not receive much disproportionately large rewards;
  3. Having strong computing power does not help create blocks;
  4. No one or several members of the network can control the entire blockchain;
The basic concept of PoS is very similar to PoW, and it is like a lottery. The only difference is that PoS can't get new "lotteries" just by fine-tuning the input data, PoW uses "block hash" as lottery ticket, and PoS introduces the concept of "kernel hash".
The Kernel hash takes as input multiple unmodifiable data in the current block. So, because the miners can't find a simple way to modify the kernal hash, they can't get legal through a lot of traversal of the possible hash.New block.
 
In order to achieve this goal, PoS added many additional consensus rules.
First, unlike PoW, the PoS's coinbase transaction (that is, the first transaction in the block) has zero output. At the same time, in order to reward Staker, a staking transaction was introduced as the second transaction of the block. The staking transaction has the following features:
  1. There are at least 1 legal vin
  2. The first vout must be empty script
  3. The second vout must not be empty
 
In addition, staking transactions must also obey the following rules :
  1. The second vout must be a pubkey script (note that it is not pubkeyhash) or an OP_RETURN script that cannot be used to save data on the chain;
  2. The timestamp in the transaction must be consistent with the block timestamp;
  3. The total output value of the staking transaction must be less than or equal to the sum of all input values, PoS block awards, and transaction fees (ie output <= (input + block_reward + tx_fees));
  4. The output corresponding to the first vin must pass the confirmation of at least 500 blocks (that is, the currency spent needs at least 500 blocks to confirm);
  5. Although the staking transaction can have multiple input vins, only the first vin is used for the consensus mechanism;
 
These rules make it easy to identify the staking transaction, thus ensuring that it can provide enough information to verify the block. It should be noted here that the first vout is not the only way to identify the staking transaction, but since the PoS3.0 designer Sunny King started using this method, and proved its reliability in long-term practice, so we have also adopted this method to identify staking transactions.
 
Now that we know the definition of the staking transaction and we understand the rules that it must follow, let's introduce the rules of the PoS block :
 
The most important of these rules for PoS is the "kernal hash". The role of the kernel hash is similar to that of the block hash in PoW. That is, if the hash value matches the condition, the block is considered valid. However, kernal hash cannot be obtained by directly modifying part of the current block. Next, I will first introduce the structure and operating mechanism of kernal hash, and then further explain the purpose of this design, and if you change the unforeseen consequences of this design will bring.
 
Kernel Hash in PoS
The kernal hash consists of the following data in order as input:
 
The "skate modifier" of a block refers to the hash value of the following data:
There are only two ways to change the current kernel hash (for mining), either change "prevout" or change the current block time.
 
In general, a wallet will contain multiple UTXOs. The balance of the wallet is actually the sum of all available UTXOs in the current wallet. This is also applicable in PoS wallets and is even more important because arbitrary output may be used for staking. One of these outputs will be the prevout in the staking transaction, which will be used to generate a valid block.
 
In addition, there is one more important change in the PoS block mining process (compared to PoW), which is that the difficulty of mining is inversely proportional to the number of coins owned (rather than the number of UTXOs). For example, a wallet with 2 coins is only half the difficulty of mining. If it is not designed this way, users will be encouraged to generate many UTXOs with small micro-regulations, which will cause the block size to become larger and may cause some security problems.
 
The calculation of kernal hash can be expressed in pseudo-code as:
While(true){ Foreach(utxo in wallet){ blockTime = currentTime - currentTime % 16 posDifficulty = difficulty * utxo.value Hash = hash(previousStakeModifier << utxo.time << utxo.hash << utxo.n << blockTime) If(hash < posDifficulty){ Done } } Wait 16s -- wait 16 seconds, until the block time can be changed } 
 
Through the above process, we find that one of the UTXOs can be used to generate a staking transaction. This staking transaction has 1 vin, the UTXO we found. At the same time this staking transaction has at least two vouts, the first one is empty, which is used to identify the blockchain, the second vout is an OP_RETURN transaction containing only one public key, or contains the pay-to-pub-key script. The role of the latter is relatively pure (payment), and data transactions can have more uses (such as an independent block signature machine) without destroying the original UTXO model.
 
Finally, all transactions in the mempool will be added to the block. What we need to do next is generate the signature. This signature must use the public key corresponding to the second vout of the staking transaction. The actual transaction data is calculated by block hash. After signing, we can broadcast this block to the network. Other nodes in the network will verify the block. If the block is valid, the node will accept the block and connect it to its own blockchain while broadcasting the new block to other nodes it connects to.
 
Through the above steps, we can get a complete and secure PoS3.0 blockchain. PoS3.0 is considered to be the best consensus mechanism against malicious attacks in a fully decentralized consensus system. Why is this conclusion? We can understand the history of PoS development.
 
The development of PoS
PoS has a long history. Here is a brief description:
 
PoS1.0 — Applied in Peercoin , heavily dependent on coin age (ie, the time elapsed since UTXO was spent), the higher the coin age, the lower the difficulty of mining. This has the side effect that the user will choose to open a wallet for a long period of time (for example, one month or longer), so that the UTXO of the wallet will have a relatively large currency and the user can quickly find a new block. This will lead to double-spend attacks more easily. Peercoin itself is not affected by this, because it uses PoW and PoS mixing mechanisms, and PoW can reduce this negative effect.
 
PoS2.0 — The coin age was removed from the consensus mechanism and a different stake modifier was used than PoS1.0. The contents of the amendments are relatively numerous, but basically they are all about how to remove the coin age and realize the security consensus mechanism without using the PoW/PoS hybrid mode.
 
PoS3.0 — PoS3.0 can actually be said to be an upgraded version of PoS2.0. In PoS2.0, the snapshot modifier also contains the block time of the previous block, which was removed in 3.0, mainly to prevent the so-called "short-range" attack, that is, it is possible to change the previous area by traversing. Block time to traverse mining. PoS2.0 uses block time and transaction time to determine the age of UTXO, which is slightly different from the previous coinage age. It indicates that a UTXO can be used for the minimum number of confirmations required by staking. The UTXO age in PoS 3.0 becomes simpler, it is determined by the height of the block. This avoids the introduction of a less accurate timestamp in the blockchain and can effectively immunize the "timewarp" attack. PoS3.0 also adds OP_RETURN support for staking transactions, making voutYou can include only the public key, not necessarily the full pay-to-pubkey script.
 
Original:https://mp.weixin.qq.com/s/BRPuRn7iOoqeWbMiqXI11g
submitted by thisthingismud to Qtum [link] [comments]

Bitcoin mining has become more profitable after the fall of complexity

Bitcoin mining has become more profitable after the fall of complexity

https://preview.redd.it/9n3z5hz18h221.png?width=1167&format=png&auto=webp&s=b285d54b0698c6405e85d80fc657c3a7546dcb5f

Mine Bitcoin is now easier - some time after the fall of the cryptocurrency hashrate, the complexity of its mining has decreased according to the network rules. Recall that for almost the whole of 2018, Bitcoin hashrate grew, not paying attention to the falling price of cryptocurrency. It seems that now the miners have felt a serious blow to the market.
According to Blockchain.com, the hash rate and complexity of the extraction of cryptocurrency has experienced a sharp drop for several weeks in a row. At the moment, the Bitcoin hashrate has dropped to almost 30 EH/s. In other words, the indicator returned to its June value.
Fernando Ulrich, chief analyst at XDEX, noted that the current hash rate drop is one of the most severe in the short history of cryptocurrency. The last time miners were so disappointed in Bitcoin back in 2011. Ulrich also published detailed statistics on all more or less noticeable hash rate drops.
What do you think? What is Bitcoin waiting for in the coming months?
#депозиты #торговля #биткоин #криптовалюта #биржа#инвестиции #btc #bitfex #exchange #eth #cryptoexchange#защита #аккаунт#криптовалюта #kwh #trading #cryptoexchange #bitcoin#smartcontract
submitted by BitFlipli to Bitfex [link] [comments]

bit_by_bit's mining-cost analysis is wrong - here's mine

bit_by_bit publishes a daily mining-cost-per-coin watch.
Though his work is thorough and commendable, it is unfortunately incorrect, and his conclusions naive.
I'm sure he has misled people on this board, so I'm here to set the record straight.
Roughly using bit_by_bit's assumptions:
achieves these costs per coin:
Miner Cost per coin
Cointerra TerraMiner IV $1985
KnC Neptune $2030
Bitfury BF3500 $1650
Bitmain Aintminer s3 $866
Bitmain Aintminer s2 $1305
Average $1570

However,

Given those two huge, highly variable (and unpredictable) factors, trying to work out a cost-per-coin is ... more-or-less impossible.
It's simply enough to assume that mining is extremely unprofitable at the moment and (probably) a very poor investment.
Here are some examples of variability:
Cointerra TerraMiner IV cost per coin
0% difficulty increase $759
20% difficulty increase $2640
15% difficulty, but starting at 30bn difficulty $3265

How are these numbers so different from bit_by_bits?

His calculations do not factor in an exponential difficulty increase. Instead, he says (in his maths) : "if the bitcoin network were composed of the miners here, and no extra miners are added/removed (i.e. difficulty remains the same) what would those miners (on average) achieve as a cost per coin over six months."

The problem with these numbers is

  1. The percentage of miners he uses to compose the network is unknowable, and as you see above, miner performance varies greatly. I'm quite sure that huge operations custom manufacture their machines and never sell them. Their performance is unknown. (an unknowable unknown)
  2. The makeup of the mining network in the future is unknowable, and difficulty will undoubtedly increase, but we can't know by how much. It has previously plateaued. Will it do the same? nobody knows.
  3. They assume the very latest miners, shipped immediately. Historically, new miners are not shipped on time. It's been suggested that the manufacturers keep them and do highly profitable day-zero mining with them.
Also, to suggest that it is possible to predict market movements (and depth) is naive as it asserts that demand is constant, and that supply is the major, or key, factor. This is highly unlikely to be the case.

Let's talk about mining's effect on bitcoin price or, first should we talk about the effect of the price of bitcoin on the mining industry?

The two are intimately linked chicken-and-egg in a feedback loop.
For a manufacturer to decide to make a rig, they need to design chips, get industry contacts, produce things (in china), make sure they work, then ship. They also need to get orders and decide if they are able to get the whole project in time for market.
These projects are multi-month/year, and I've heard success is largely decided by who you know in china (china's pretty busy already).
There is some kind of lag. Investors also pre-order, and must take a wild guess at future conditions with no guarantee whatsoever.
At times like now, where mining is so unprofitable, which miners are actually selling coins (at a loss)?
Large operations have large overheads, but to sell now, when the price might rise by 10x again would be idiotic.
So, really this "supply" aspect of the supply-demand equation is very difficult to get a decent hold on, though I would love somebody to attempt it as a PHD. The blockchain should provide some answers.
The other side of it (what miners will be produced) is also difficult to know. It could be that right now (with an unprofitable industry, and miners actually being quite close to desktop PC chip-size - i.e. as fast as humans can make them) no miners are in the pipe-line. This could (in crazy theory) lead to a zero difficulty increase for the lucky new owners of the above rigs. In that case, bit_by_bit's numbers would be spot on.
Unfortunately, it's absolutely unknowable.

So... why do people buy miners now?

Quite simply, getting your head around an exponential anything is hard. The exponential difficulty increase is a motherfucker. But it's good for bitcoin (it protects our network from meddlers).
Also, you could gamble that mining difficulty has to slow down... surely...

So...what?

In my experience, looking at price charts is far more informative about future market movements. But, whilst I've got the microphone, I would remind newbies not to trade their coins.

Show your workings!

Using this mining profitability calculator and inputing the "profitability decline per year" from this tool.
I'll work through Cointerra TerraMiner IV as an example.
meh meh
Difficulty 18,736,441,558
ghash 2000
Elec $0.15 (varies quite a bit from country-to country, like 0.7 canada to 0.2 UK?)
power 2200
time frame 6 months
hardware cost $6000
price per BTC 600
profitability decline 0.00882406
I got these numbers off bit_by_bit. I don't care about the details. My argument is that it's not an answerable question.
Result:
meh meh
Electricity cost $1446
Total cost $7446
Income 2553
Coins 2252/600 = 3.75 BTC
$/BTC 7446/3.75 = $1985
Please, if I've made a mistake, let me know and I'll send bit_by_bit some flowers.

"Why are you just posting stuff directly against another user: that's not cool"

Well, it's whatever motivates you eh?
I just go wound up by our discussions. But, I'm quite sure there are people on this board who don't know this stuff, so ... it's probably beneficial.
Have fun
EDIT: Ok, so I genuinely thought that I had made a fact-based post. Er, I added a few comments that I thought were funny, but I guess that wasn't a great idea. I removed one of my comments myself, but it's true that the moderators were in touch.....
And - to bit_by_bit, I am sorry, because some of the things I said were above and beyond "spirited discussion".
I absolutely agree that polite conduct is the way forward, and my initial "hang on a minute" reply to him was nice.
But, I do have to admit that this subject has wound me up a fair amount. I genuinely believe that he's made a quite serious mistake - but I am happy to be proved wrong. Right now - I just want to get to the bottom of this.
More Edit:

I am a miner

I didn't want to add this before, because I'm sure it (incorrectly) gives my argument more weight. But I need you to understand that bitcoin difficulty is a total motherfucker.
I pre-ordered a BFL single for 11BTC in May 2013. The difficulty was about 4 million, and I worked out I'd make 30BTC/day at those conditions.
It arrived at around 30 million difficulty, and I think now we're 18 billion.
I've made about 0.7 BTC mining, and It's on the limit of believability that I'll make 1BTC before I throw it in the bin. I have a suspicion that it will be useful in the future for some altcoin/blockchain like thing. Also, I got free heating (which was the whole reason I discovered bitcoin in the first place!)
Horrific loss. I think it makes about $1 more than it costs in electricity to run (at current price......)
This whole post is not a "bitter miner" but somebody who has experienced bitcoin's exponential difficulty First Hand. Honestly, it is unbelievable.
I genuinely think that the guy that does the profitability calculator deliberately does not explain what the 'profitability decline per year' is ... because he knows it will adversely harm bitcoin and the manufacture of miners.
Even More EDIT:

Am I sure I've got the difficulty increase thing right?

So, I've made a spreadsheet thing to see if the 0.0022 difficulty thing is right. It is.
All this table tells you is that in order to calculate 15% difficulty increase, you need to use a number LIKE 0.0022 in the 'profitability decline per year' box, and not 0.98 (which bit_by_bit calculated).
I've sanity checked my numbers against the 'profitability calculator' and they don't quite line up, but they're close enough. The difficulty is not the same either, but it's in the same region. I don't know why. Also, the months aren't exact fortnights, so they don't line up. These are details.
This proves my above workings to my satisfaction.

what is this horrible data?

It shows how much BTC your miner earns each 2 weeks (average difficulty change period). The last 2 rows (calc:) are from the profitability calculator website (and so are right). My attempt is on the left. Fortnight 13 is 6 months.
Oh, this graph uses 14.07% difficulty.
fortnight number "profitability decline" BTC earned BTC earned accumulated calculator says BTC
1 1 0.7518 0.7518 x
2 0.8593 0.64602174 1.39782174 1.361666667
3 0.73839649 0.555126481 1.952948221 x
4 0.634504104 0.477020185 2.429968406 2.295
5 0.545229376 0.409903445 2.839871852 x
6 0.468515603 0.35223003 3.192101882 2.938333333
7 0.402595458 0.302671265 3.494773147 x
8 0.345950277 0.260085418 3.754858565 3.378333333
9 0.297275073 0.2234914 3.978349965 x
10 0.25544847 0.19204616 4.170396125 3.68
11 0.21950687 0.165025265 4.33542139 x
12 0.188622254 0.14180621 4.477227601 3.888333333
13 0.162083103 0.121854077 4.599081677 x
14 0.13927801 0.104709208 4.703790885 4.03
15 0.119681594 0.089976622 4.793767508 x
16 0.102842394 0.077316912 4.871084419 3.213333333
17 0.088372469 0.066438422 4.937522842 x
18 0.075938463 0.057090536 4.994613378 4.195
19 0.065253921 0.049057898 5.043671276 x
20 0.056072694 0.042155452 5.085826727 4.241666667
21 0.048183266 0.03622418 5.122050907 x
22 0.041403881 0.031127437 5.153178344 4.273333333
23 0.035578355 0.026747807 5.179926151 x
24 0.03057248 0.022984391 5.202910542 4.295
25 0.026270932 0.019750487 5.222661028 x
26 0.022574612 0.016971593 5.239632622 x
2 bold numbers. 1 is approximately the 3.75 coins that gives you $1900 / coin whatever. 2 is the "profitability decline per year" as a tiny number. The pro tool comes up with 0.01095125 and I got 0.02257 but I don't care - it's close enough.
My whole point is that these numbers are totally unworkably all over the place. You can't calculate them meaningfully.

Dear Bit_by_Bit

I CANNOT BELIEVE the amount of effort that I have had to go to in order to show you that you made a minor mistake. (at time of writing you still deny it).
There is no doubt in my mind now that I was right in the first place. Your calculations do not include a significant difficulty increase.
I wish you well.
submitted by inteblio to BitcoinMarkets [link] [comments]

Let's get serious for a minute

Allright, to start up I'm possibly pro fork and shurely against what btc is turning into. (settlement layer bullshit)
Still, I had a few concerns about this fork, while reading around this thread it seems you guys want to make an altcoin with the name bitcoin... I read about switching the algo or adding an 2nd asic resistant algo, new logo, do you guys really want to fork btc or what ?!?
My idea of a fork is getting 51% of the hashrate (I can contribute 10-20ths for a limited time with my s2s and same gen equipment) and getting the control of the REAL btc back from core, NOT making another coin...
To get support we need to make something better than what you had before, how do you think you'll get the Chinese miners with an algo that will need them to change their asics? And we've worked so hard to get the name known and people to use btc, why would we want to change that?
Anyways, that's what I think, the initiative to fork is great to take back control over the mainchain, but we need to make the exact same replica with minor changes (blocksize for example), not a whole new logo, chain etc.(no pun intended)
Cheers, I'd be happy to discuss more about this if I'm not downvoted to oblivion :)
Q.
EDIT : after seeing the replies, it seems this fork doesn't coincide with what I think is a solution, I'll keep it in mind but I won't switch back on 1w/ghs HW with my 0,2eukw to support it (as of now)
I wish you all the best and hope I change my mind when you have a more precise roadmap :)
submitted by QuentinZRC to btcfork [link] [comments]

My hardware are not appearing on nicehash's profitability calculator PLEASE HELP

I am having difficulties figuring out if I can make a profit with this hardware. Here is my current situation:
I am looking into getting these ASIC cards but dont worry about the costs:
2x Bitmain AntMiner s2
6x BTC Garden AM V2
My $kw/h is about $0.07 for about only 17 hours of the day.
1 Antminer s2 is 1,000 GH/s and 1,000W
1 BTC Garden v2 is g10 GH/s and 650W
NiceHash doesnt have calculations to find my profits. Can you please help me find out if I would be making profit and if so how much per chip? Im new to Bitcoin mining and need some guidance.
submitted by SpiceyNipplez to NiceHash [link] [comments]

Per-block non-interactive Schnorr signature aggregation | adiabat | May 07 2017

adiabat on May 07 2017:
If / when Schnorr signatures are deployed in a future witness version, it
may be possible to have non-interactive partial aggregation of the
signatures on a per-block basis. This could save quite a bit of space. It
seems not to have any security problems but this mailing list is very
good at finding vulnerabilities so that type of feedback is the main reason
I'm writing :) (A quick explanation of why this is horribly broken could
save me lots of time!)
(also sorry if this has been discussed; didn't see anything)
Quick recap / context of Schnorr sigs:
There are a bunch of private keys x1, x2, x3...
multiply by generator G to get x1G = P1, x2G = P2, x3G = P3
Everyone makes their sighash m1, m2, m3, and their random nonces k1, k2, k3.
To sign, people calculate s values:
s1 = k1 - h(m1, R1, P1)x1
s2 = k2 - h(m2, R2, P2)x2
(adding the P2 into the e hash value is not in most literature /
explanations but helps with some attacks; I beleive that's the current
thinking. Anyway it doesn't matter for this idea)
Signature 1 is [R1, s1]. Verifiers check, given P1, m1, R1, s1:
s1G =? R1 - h(m1, R1, P1)P1
You can interactively make aggregate signatures, which requires
co-signers to build an aggregate R value by coming up with their own k
values, sharing their R with the co-signers, adding up the R's to get a
summed R, and using that to sign.
Non-interactively though, it seems like you can aggregate half the
signature. The R values are unique to the [m, P] pair, but the s's can be
summed up:
s1 + s2 = k1 + k2 - h(m1, R1, P1)x1 - h(m2, R2, P2)x2
(s1 + s2)G = R1 + R2 - h(m1, R1, P1)P1 - h(m2, R2, P2)P2
To use this property in Bitcoin, when making transactions, wallets can sign
in the normal way, and the signature, consisting of [R, s] goes into the
witness stack. When miners generate a block, they remove the s-value from
all compatible inputs, and commit to the aggregate s-value in the coinbase
transaction (either in a new OP_RETURN or alongside the existing witness
commitment structure).
The obvious advatage is that signatures go down to 32 bytes each, so you
can fit more of them in a block, and they take up less disk and network
space. (In IBD; if a node maintains a mempool they'll need to receive all
the separate s-values)
Another advatage is that block verification is sped up. For individual
signatures, the computation involves:
e = h(m1, R1, P1) <- hash function, super fast
e*P <- point multiplication, slowest
R - e*P <- point addidion, pretty fast
s*G <- base point multiplication, pretty slow
with s-aggregate verification, the first three steps are still carried out
on each signature, but the s*G operation only needs to be done once.
Instead another point addition per signature is needed, where you have some
accumulator and add in the left side:
A += R - e*P
this can be parallelized pretty well as it's commutative.
The main downside I can see (assuming this actually works) is that it's
hard to cache signatures and quickly validate a block after it has come
in. It might not be as bad as it first seems, as validation given chached
signatures looks possible without any elliptic curve operations. Keep an
aggregate s-value (which is a scalar) for all the txs in your mempool.
When a block comes in, subtract all the s-values for txs not included in
the block. If the block includes txs you weren't aware of, request them in
the same way compact blocks works, and get the full signature for those
txs. It could be several thousand operations, but those are all bigInt
modular additions / subtractions which I believe are pretty quick in
comparison with point additions / multiplications.
There may be other complications due to the fact that the witness-txids
change when building a block. TXIDs don't change though so should be
possible to keep track of things OK.
Also you can't "fail fast" for the signature verification; you have to add
everything up before you can tell if it's correct. Probably not a big deal
as PoW check comes first, and invalid blocks are pretty uncommon and quite
costly.
Would be interested to hear if this idea looks promising.
Andrew Polestra mentioned something like this in the context of CT /
mimblewimble transactions a while ago, but it seems it may be applicable to
regular bitcoin Schnorr txs.
-Tadge
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submitted by dev_list_bot to bitcoin_devlist [link] [comments]

Is it technically possible to switch from CryptoNite to Proof-of-Stake for Monero?

I am wondering if after 4 years, how the hash power from Monero will be paid for. I think BlackCoin's PoS2.0 is much better than Proof-of-Work. In Bitcoin I do not see it either that transaction fees will be able to pay the miners... So would be cute if Monero can technically switch from PoW to PoS.
Also, would staking under PoS eliminate the anonymity? Or using Tor I guess this could be eliminated as well? Thanks.
submitted by mexbit to Monero [link] [comments]

10-30 23:33 - 'I have been reading up more and more and now I am a firm supporter of the NO2X. / We do not want miners centralization, fuck Jihan and fuck Roger. They want to steal bitcoin from us. They can stick to their bcash! / 1...' by /u/1MB_Bitcoin_Forever removed from /r/Bitcoin within 0-7min

'''
I have been reading up more and more and now I am a firm supporter of the NO2X.
We do not want miners centralization, fuck Jihan and fuck Roger. They want to steal bitcoin from us. They can stick to their bcash!
1MB bitcoin will allow ordinary people like us to have more power!!!
Source - [link]1
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: 1MB_Bitcoin_Forever
1: l*ca***tcoinc*sh.*rg/ne*s/7/How_*id_Bitc**n*Get_*o_*es*y*_*Cas*,*Bi*coin_Seg*it,_Bi*c**n_Gold*_*itcoin*S1X,_***coin_S2*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

10-30 23:33 - 'I have been reading up more and more and now I am a firm supporter of the NO2X. / We do not want miners centralization, fuck Jihan and fuck Roger. They want to steal bitcoin from us. They can stick to their bcash!...' by /u/1MB_Bitcoin_Forever removed from /r/Bitcoin within 21-31min

'''
I have been reading up more and more and now I am a firm supporter of the NO2X.
We do not want miners centralization, fuck Jihan and fuck Roger. They want to steal bitcoin from us. They can stick to their bcash!
1mb bitcoin will allow ordinary people like us to have more power!!!
Source - [link]1
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: 1MB_Bitcoin_Forever
1: l**a**itc*in**s*.org/n*w*/7/Ho*_Di*_Bit*oi*_Get_So_Messy?_BC***,_*i*coi*_Segwit,_Bit*oin*Gold,*Bi*co**_*1X,_*itco*n_S2*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

10-30 23:33 - 'I have been reading up more and more and now I am a firm supporter of the NO2X. / We do not want miners centralization, fuck Jihan and fuck Roger. They want to steal bitcoin from us. They can stick to their bcash!...' by /u/1MB_Bitcoin_Forever removed from /r/Bitcoin within 31-41min

'''
I have been reading up more and more and now I am a firm supporter of the NO2X.
We do not want miners centralization, fuck Jihan and fuck Roger. They want to steal bitcoin from us. They can stick to their bcash!
1MB bitcoin will allow ordinary people like us to have more power!!!
Source - [link]1
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: 1MB_Bitcoin_Forever
1: **ca*bitc*in****.org*news/7*How_Di*_Bitcoin_Get_So_Me**y*_B**sh,*Bit**i*_S*gwit,_Bit**in_G*ld,_Bi**oin_S1*,_Bitcoi**S2*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Blackcoin/Peercoin Fireside Chat ;)

Quote from: Sentinelrv on Peercointak, re Blackcoin/PoS2.0: "Was any attempt ever made to reach out to the Peercoin community or Sunny King to implement these security changes? As far as I know, no attempt was ever made to work with us, unless it was in private. If an attempt WAS made and the ideas were rejected by our community or Sunny King, then I could understand creating Blackcoin, since there would have been no other way to implement these changes.
As I understand it though, no attempt was ever made to work with the original creators of Peercoin and proof-of-stake, and the creation of Blackcoin has led to unnecessary further division among proof-of-stake supporters. This division could have been avoided if the creators of Blackcoin would have just reached out to us first with their concerns and ideas. Am I mistaken here?
I applaud you for your work on Blackcoin, but I just don't understand why we couldn't have worked together on things like this, so that we'd all benefit from a stronger community."
Sentinelrv,
Thank you for your thoughtful and articulate response, and for your acknowledgment of our work. I admit that I am torn between opposing views on some of what you've expressed. You see, in a sense, what I'd most like to have is simply 'the best possible coin', and a vast community focused around supporting, refining, using, and promoting it to the world. Just as (again, in a sense) I would like to see one harmonious world-government rather than competing nations perpetually at war. But then, no. There is something not only unrealistic, but also undesirable about such visions. Something monolithic, engulfing, the ultimate nightmare of centralization.
I wonder, did Sunny King ever reach out to the Bitcoin community, to suggest the changes that Peercoin ultimately brought? Or did Charlie Lee do so, with his new 'asic-resistant' scrypt algo idea? Did they make that a priority, and in the name of working together initially submit their ideas to the higher authority for approval? And did they only then, upon meeting rejection, embark on the rebellious enterprise of a new coin (with the unfortunate side-effect of diverting attention, talented developers, and sacred MARKET CAP from Bitcoin)? Doubtful. I bet neither of them lost much sleep over the matter, or even gave it the least thought. They had exciting ideas, they ran with them.
The phrase 'permissionless innovation' is often bandied about in the most glowing terms in the crypto-world. Bitcoin people love to talk about that wonderful atmosphere of freedom, don't they? But god help you if you create an altcoin!
Believe me, Blackcoin people have done their share of bitching about all the forks, clones and knock-offs that we inspired. We often indiscriminately called them scams. Just as some Peercoiners called us a scam. Just as Bitcoin called Peercoin a scam. Just as banks call Bitcoin a scam. Somehow it is all so...predictable. It reminds me of something Abraham Lincoln pointed out about political negotiations between different countries. He said, as I remember it, that it is wrong to expect any of them to see beyond their own monetary self-interest. They wont. Because they can't.
Maybe I am mistaken, but I like to think at least few people in Peercoin were proud and pleased to see Blackcoin happen, for many reasons. Blackcoin has arguably done more to bring attention to proof-of-stake than Peercoin itself. And it has continued to innovate upon the protocol and alter its security approach in significant and interesting ways. It has furthered the great experiment.
Worth noting as well, how nearly every new coin after Blackcoin launched went full PoS after a compressed PoW distribution period, (where did they get that ballsy idea?). And a year down the road, of all those new PoS coins only Blackcoin has had a thriving and successful multipool to continue distribution to hundreds (at times even even thousands) of miners via multi-algo 'indirect' mining. That was Blackcoin's idea too. It was quickly copied by dozens. Now the other 'me too' multipoools have nearly all died-off, along with many of the coins who attempted them. Clearly we are doing something right. Many things, in my opinion.
In conclusion, I'd like to say that your vision of cooperation and working together is not excluded merely by the fact that we don't operate under the umbrella of a single coin. We can communicate, we can cross-pollinate ideas, we can go beyond crypto-xenophobia and seek out potential community synergies. If we try those things, some good is very likely to come of it. --Jabulon
submitted by Thereal_Jabulon to blackcoin [link] [comments]

What's a good site for ASICs and is it worth mining still?

I was looking at the Antminer S2 (1TH/s) and coinwarz was claiming that I'd be making 27 bucks in profit considering my power costs, etc. It's looking better than scrypt right now. I have been a scrypt miner, started with Dogecoin. I am also curious about bitcoin and whether it's worth blowing something on the order of $1500 USD on some good miner(s) or just throwing my money at Coinbase to get bitcoin right now.
submitted by hautdoge to BitcoinMining [link] [comments]

Antpool 24 Hour Earnings?

Hello there, I have just started mining bitcoins by using 3 Antminer S2's (I know they are old but still gotta start somewhere...) Each miner consistently gets 1 TH/s and what I am wondering is if anyone knows what the 24 Hour earnings tab means in AntPool. It shows I should be making 24 Hours Earnings BTC 0.02878481 But I really am making about this much per day: Account Balance BTC 0.00684909. I have been using PPLNS but still I doubt that a luck factor would take that much out of my profits of mining... Does anyone have any knowledge of this or is this just an issue of the site? Also if anyone has any information that might help a newbie miner get started would be greatly appreciated! Thanks!
submitted by miekshreds to Bitcoin [link] [comments]

Non-outsourceable puzzles questions

Have just finished Lecture 8.4. Nonoutsourceable Puzzles of Bitcoin and Cryptocurrency Technologies on Coursera and got some questions.
  1. Just to confirm: Is it that s1 (signature 1) is Sign(SecretKey, prev || nonce) and s2 (signature 2) is Sign(SecretKey, prev || mrkl_root)?
  2. Why isn't mrkl_root included in PoW? It's one of the critical information. Leaving it out of PoW just seems wrong to me. Since the miner is free to choose what transactions to include after PoW, it's easier to launch an attack. For example, the miner can construct many blocks, which are all valid because PoW is valid, and broadcast them to Bitcoin network. Now the network will be multiple-forked. In addition, the attack is penalty-free, at least in the short term, because whichever fork wins, he gets to keep the reward.
  3. Is the technology scheduled to be included in Bitcoin by Core team?
Thanks.
submitted by exab to Bitcoin [link] [comments]

[Paper] Publish or Perish: A Backward-Compatible Defense against Selfish Mining in Bitcoin

This is an automatic summary, original reduced by 97%.
Bitcoin's designer implicitly assumed the fairness of the mining protocol: as long as more than half of the mining power follows the protocol, the chance that a miner can earn the next block reward is proportional to the miner's computational power.
A selfish miner with 48% of total mining power earns 89% and 83% of mining rewards within uniform tie breaking and freshness preferred, respectively, given that all other miners follow honest mining strategy.
These five actions are adequate because they cover all combinations of selfish miner's chain selection and reasonable public weight that might affect the honest h2 time network s2 publishing time block found by honest miners parent block found by the selfish miner uncle count in weight of public chain count in weight of selfish miner' s chain Fig.
Specifically, if the honest miner mines two blocks on the honest chain after a selfish block is found, a rational selfish miner would be forced to adopt in our scheme whereas in uniform tie breaking, the miner tries to catch up from behind.
If the honest miner finds one block after the selfish miner finds two blocks, a rational selfish miner chooses override in our scheme and claim the block rewards instead of risking them.
Selfish miner's expected relative revenue Selfish miner's expected relative revenue 0.8 Ideal 0.7 k=1 k=2 0.6 k=3 k=∞ 0.5 0.4 0.3 0.2 0.2 0.25 0.3 0.35 0.4 0.45 0.5 Selfish miner's mining power share 0.55 Fig.
Summary Source | FAQ | Theory | Feedback | Top five keywords: mine#1 block#2 selfish#3 chain#4 defense#5
Post found in /Bitcoin and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

How do you prepare for Bitcoin Classic with your mining equipment?

Would one be able to upgrade mining computers like the linked one to Bitcoin Classic or how does it work? http://bitcoinware.net/collections/frontpage/products/antminer-s2-1th-s-btc-miner-1w-gh-s
submitted by ivanraszl to btc [link] [comments]

The Best ASIC Miner For Residential Mining - FutureBit Apollo Review Bitmain Antminer S2 How to Disassemble [HD] Fast Bitcoin miner. How to download and start mining. BITCOIN GENERATOR FREE BITCOIN MINER 2020 100% LEGIT BITCOIN MONEY ADD BITCOIN GENERATOR FREE BITCOIN MINER 2020 100% LEGIT BITCOIN MONEY ADD

Bitcoin Miner 1.58.2.0 (Ad-supported) 1 min read January 10, 2019. A Bitcoin mining tool that allows you to use multiple online services in order to effortlessly earn Bitcoins for your online purchases. First teaser for The Boys S2 promises another wild and bloody ride. 1 min read July 9, 2020. Buzz. Stable and quietly bitcoin miner. Bitmain Technologies Limited is proud to announce ANTMINER S2 that features 1TH/s Bitcoin Miner. It consist of high-density chip chains and ultra low power consumption. Antminer S2 is using the state of the art BM1380 chip, targeting the best possible power efficiency. Antminer S2 for mining SHA-256 - 1 TH/s hashrate and 1000 W power consumption. ASIC can be used for mining 43 different coins. The Chinese company BitMain has started shipping the third batch of their AntMiner S2 SHA-256 ASIC miners with a hasrate of 1 Terahash for mining Bitcoin. The new batch of S2 miners is priced at $3199 USD (7.387 BTC), the company has started shipping the first two batches of their new Terahash Bitcoin ASIC miners at the start of this month, but Bitmain AntMiner S2 1000 Gh/s SHA-256 ASIC Miner I bought one of these about 9 days ago, and just bought a second one. The shipping isn't perfect, but not a single scratch or problem occurred during transit (The cards didn't even become unseated while moving, something I had learned during research before buying and you should check before plugging it in).

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The Best ASIC Miner For Residential Mining - FutureBit Apollo Review

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