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Primecoin

Discussion about Primecoin and its infra. Primecoin is a very innovative cryptocurrency, being the 1st non Hash-Cash PoW crypto, naturally scarce (not artificially), with very fast confirmations (1min), elastic readjusting reward & a useful mining (byproducts are primes). Primecoin is sustainable (miners are guaranteed to have revenues), and decentralized (ASIC/FPGA are not particularly advantaged). Sidechain for decentralized data applications (e.g. Storj) currently in development.
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IQ.cash smart trading and mining

IQ.cash smart trading and mining
https://preview.redd.it/z0xjotzxta451.png?width=724&format=png&auto=webp&s=a0c223a017dd58aa54d506e51d041f5820db4a3b
Everyone from time to time has an interest in entering into a variety of investments with the aim of earning income from their home or comfort as long as they do not have to go through an inefficient employment system. This is the result of technological developments around, and to achieve this, many fall victim to con artists who promise a platform to get a comfortable income. Today I will introduce the ICO IQ cash project, one of the PLATFORM THAT ALLOWS YOU TO GET IN YOUR COMFORT.

What is IQ cash

IQ Cash is a cryptocurrency that may be used to run and increase further exposure to what has been offered. Making it is to remove from where to stop because it has been made and decided to go further because it was not possible. IQ can be used to get a place that has to be part of this trend, even if we are looking for an open place where investors can do the same with other investors. The aim is to give everyone not agreement about most and at least ROI in 300% or more of you in passive form. The IQCash company is truly unique because it will allow users to get the maximum return on investment. IQ cash is a company that will be able to combine the best and most perfect opportunities to lead exchanges in the cryptocurrency market. With IQ network Masternode you can avoid a variety of situations, problems, and unusual problems, and such a process will eliminate any deficiencies. The IQCash platform is also suitable for traders who already have experience in their activities, and of course for novice traders who have just entered the door of buying and selling crypto. No one will experience problems, everyone will only admire sales using IQCash. Learn more — http://iq.cash.

Why I chose to take a position on IQ. Cash?

Because there are many kinds of benefits for investors. except for profits up to 300%, I will be able to introduce all profits to investors. 1. Security Cryptocurrency now has a variant of active users in the world and also the number is growing rapidly! User accounts cannot be blocked, and funds cannot be accessed by anyone but the owner. 2.MASTERNODE Iq. Cash uses the consensus of the PoW algorithm with the support of the Masternode system. This makes the project economically attractive to mine 43% and provides 57% of passive income for Masternode holders. Masternode provides network integrity, transaction anonymity, and transaction speed. ways to get Masternode: You must take the position of 3000 IQ. 3. ANONIMITY The anonymity of transactions in the system is provided by the PrivateSend algorithm. Users can trust the system completely. they don’t need to worry about third-party access to data because the system encrypts data securely when transferring and receiving assets. 4. ASIC RESISTANCE Technology that solves problems accelerates the expansion of network complexity significantly when using ASIC (compared to CPU usage). IQ Cash Network uses the NeoScrypt algorithm to solve this problem. 5. TRANSACTION speed High-speed transactions are guaranteed by InstantSend data exchange across networks. The transaction time is about 5 seconds. 6. IQ Network decentralized. Cash implies weaknesses to create sites that combine the dominant influence on other network members. Effects on coins that are excluded due to their release are prohibited, and extra emission is not provided.

How to get an annual profit of 300%.


https://preview.redd.it/updhrmtzta451.png?width=793&format=png&auto=webp&s=eccc7d14b5d2e479f5d1ed2de84d14bfc72b0742
  1. Buy 3,000 IQ or better 3001 because 1 is spent on commission transactions.
  2. Download the Files application (Android or iOS) for mobile devices Open IQ. Cash Coin Purses in the application.
  3. Enter 3,001 IQ in the wallet and create a MasterNode server and deposit. Pay for hosting service providers on Flits.
  4. You will be charged EUR 1.99 per month, get profit and spend on your needs or create the next MasterNode to extend profits in line with the number of MasterNode!

How do I buy cash IQ

Go to the acquisition page and you will see an open window where you will pay the amount of coins you want to shop for. You don’t need to worry about the next steps because we will arrange the rest by buying IQ coins. Cash and FLS (to close Flits services) from the exchange.
  1. Fill in «IQ wallet address» and «FLS wallet address» in the Flits application.
  2. get a package. One package includes 3000 IQ. Cash and Bitcoin services for Flits for five months. When the cash transfer is complete, open the IQ-MasterNode window and make it comparable to the coins purchased (3000 IQ for 1 MasterNode).
  3. activate MasterNode and get profit. You will follow the current exchange rate on the Flits application or with any crypto trading coins.

Wallets and Exchanges:

The IQ cryptocurrency wallet is available on all three Windows, Mac and Linux platforms.

Token Information:

• Algorithm: PoW, NeoScrypt (ASIC resistance) • Block time: 120 seconds • Prizes per block: 25 IQ • Block Block Reward Distribution: 57% to Masternodes and 43% to Miners, both taken from the formula (Reward-6%), where 6% is reserved for the DAO system • Block rewards can be sliced 12% every year • Max coins: 56 900,000 IQ • Premine: 7 900 000 IQ • Mining within 25 years

Conclusion

IQ.cash has studied the crypto market well enough to draw the model. This uses the mining system and MasterNode. The mining protocol will attract contributors exponentially while MasterNode will help ensure network speed, governance, and sustainability. Because MasterNode is also a cryptocurrency node, becoming a MasterNode on the IQ.cash system requires an investment commitment. This is a way to make a profit in this system. Investment is rewarded with a commission for each trade made by the system. This will help ensure that enough users try to become a MasterNode and thus make a profit without having to leave the comfort of their home.

FOR MORE INFORMATION ABOUT IQ.CASH:

Website: https://iq.cash/ Whitepaper: https://iq.cash/iqcash_whitepaper.pdf Telegram: https://t.me/IQ_cash Twitter: https://twitter.com/IQ_Crypto Bitcointalk: https://bitcointalk.org/index.php?topic=4360591 YouTube: https://www.youtube.com/finexpo Github: https://github.com/IQ-Cash/iqcash/releases Disputes: https://discord.gg/qekuX6r Ann Thread: https://bitcointalk.org/index.php?topic=5240221.0 Explorer: https://explorer.iq.cash Mining Pool: https://pool.iq.cash Bithumb Contest: https://support.bithumb.pro/hc/ru/articles/360046055014--Event-100-000-IQ-Grand-Prize-Pool
Username : faxmon Link : https://bitcointalk.org/index.php?action=profile;u=173709
I.Q cash wallet : QU5m19f7AVY99cMVzU2CYLoAV15FRMxuLY
submitted by kriptaannarhist to u/kriptaannarhist [link] [comments]

Mining for Profitability - Horizen (formerly ZenCash) Thanks Early GPU Miners

Mining for Profitability - Horizen (formerly ZenCash) Thanks Early GPU Miners
Thank you for inviting Horizen to the GPU mining AMA!
ZEN had a great run of GPU mining that lasted well over a year, and brought lots of value to the early Zclassic miners. It is mined using Equihash protocol, and there have been ASIC miners available for the algorithm since about June of 2018. GPU mining is not really profitable for Horizen at this point in time.
We’ve got a lot of miners in the Horizen community, and many GPU miners also buy ASIC miners. Happy to talk about algorithm changes, security, and any other aspect of mining in the questions below. There are also links to the Horizen website, blog post, etc. below.
So, if I’m not here to ask you to mine, hold, and love ZEN, what can I offer? Notes on some of the lessons I’ve learned about maximizing mining profitability. An update on Horizen - there is life after moving on from GPU mining. As well as answering your questions during the next 7 days.
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Mining for Profitability - Horizen (formerly ZenCash) Thanks Early GPU Miners

Author: Rolf Versluis - co-founder of Horizen

In GPU mining, just like in many of the activities involved with Bitcoin and cryptocurrencies, there is both a cycle and a progression. The Bitcoin price cycle is fairly steady, and by creating a personal handbook of actions to take during the cycle, GPU miners can maximize their profitability.
Maximizing profitability isn't the only aspect of GPU mining that is important, of course, but it is helpful to be able to invest in new hardware, and be able to have enough time to spend on building and maintaining the GPU miners. If it was a constant process that also involved losing money, then it wouldn't be as much fun.

Technology Progression

For a given mining algorithm, there is definitely a technology progression. We can look back on the technology that was used to mine Bitcoin and see how it first started off as Central Processing Unit (CPU) mining, then it moved to Graphical Processing Unit (GPU) mining, then Field Programmable Gate Array (FPGA), and then Application Specific Integrated Circuit (ASIC).
Throughout this evolution we have witnessed a variety of unsavory business practices that unfortunately still happen on occasion, like ASIC Miner manufacturers taking pre-orders 6 months in advance, GPU manufacturers creating commercial cards for large farms that are difficult for retail customers to secure and ASIC Miner manufacturers mining on gear for months before making it available for sale.
When a new crypto-currency is created, in many cases a new mining algorithm is created also. This is important, because if an existing algorithm was used, the coin would be open to a 51% attack from day one, and may not even be able to build a valid blockchain.
Because there's such a focus on profitable software, developers for GPU mining applications are usually able to write a mining application fairly rapidly, then iterate it to the limit of current GPU technology. If it looks like a promising new cryptocurrency, FPGA stream developers and ASIC Hardware Developers start working on their designs at the same time.
The people who create the hashing algorithms run by the miners are usually not very familiar with the design capabilities of Hardware manufacturers. Building application-specific semiconductors is an industry that's almost 60 years old now, and FPGA’s have been around for almost 35 years. This is an industry that has very experienced engineers using advanced design and modeling tools.
Promising cryptocurrencies are usually ones that are deploying new technology, or going after a big market, and who have at least a team of talented software developers. In the best case, the project has a full-stack business team involving development, project management, systems administration, marketing, sales, and leadership. This is the type of project that attracts early investment from the market, which will drive the price of the coin up significantly in the first year.
For any cryptocurrency that's a worthwhile investment of time, money, and electricity for the hashing, there will be a ASIC miners developed for it. Instead of fighting this technology progression, GPU miners may be better off recognizing it as inevitable, and taking advantage of the cryptocurrency cycle to maximize GPU mining profitability instead.

Cryptocurrency Price Cycle

For quality crypto projects, in addition to the one-way technology progression of CPU -> GPU -> FPGA -> ASIC, there is an upward price progression. More importantly, there is a cryptocurrency price cycle that oscillates around an overall upgrade price progression. Plotted against time, a cycle with an upward progressions looks like a sine wave with an ever increasing average value, which is what we see so far with the Bitcoin price.

Cryptocurrency price cycle and progression for miners
This means mining promising new cryptocurrencies with GPU miners, holding them as the price rises, and being ready to sell a significant portion in the first year. Just about every cryptocurrency is going to have a sharp price rise at some point, whether through institutional investor interest or by being the target of a pump-and-dump operation. It’s especially likely in the first year, while the supply is low and there is not much trading volume or liquidity on exchanges.
Miners need to operate in the world of government money, as well as cryptocurrency. The people who run mining businesses at some point have to start selling their mining proceeds to pay the bills, and to buy new equipment as the existing equipment becomes obsolete. Working to maximize profitability means more than just mining new cryptocurrencies, it also means learning when to sell and how to manage money.

Managing Cash for Miners

The worst thing that can happen to a business is to run out of cash. When that happens, the business usually shuts down and goes into bankruptcy. Sometimes an investor comes in and picks up the pieces, but at the point the former owners become employees.
There are two sides to managing cash - one is earning it, the other is spending it, and the cryptocurrency price cycle can tell the GPU miner when it is the best time to do certain things. A market top and bottom is easy to recognize in hindsight, and harder to see when in the middle of it. Even if a miner is able to recognize the tops and bottoms, it is difficult to act when there is so much hype and positivity at the top of the cycle, and so much gloom and doom at the bottom.
A decent rule of thumb for the last few cycles appears to be that at the top and bottom of the cycle BTC is 10x as expensive compared to USD as the last cycle. Newer crypto projects tend to have bigger price swings than Bitcoin, and during the rising of the pricing cycle there is the possibility that an altcoin will have a rise to 100x its starting price.
Taking profits from selling altcoins during the rise is important, but so is maintaining a reserve. In order to catch a 100x move, it may be worth the risk to put some of the altcoin on an exchange and set a very high limit order. For the larger cryptocurrencies like Bitcoin it is important to set trailing sell stops on the way up, and to not buy back in for at least a month if a sell stop gets triggered. Being able to read price charts, see support and resistance areas for price, and knowing how to set sell orders are an important part of mining profitability.

Actions to Take During the Cycle

As the cycle starts to rise from the bottom, this is a good time to buy mining hardware - it will be inexpensive. Also to mine and buy altcoins, which are usually the first to see a price rise, and will have larger price increases than Bitcoin.
On the rise of the cycle, this is a good time to see which altcoins are doing well from a project fundamentals standpoint, and which ones look like they are undergoing accumulation from investors.
Halfway through the rise of the cycle is the time to start selling altcoins for the larger project cryptos like Bitcoin. Miners will miss some of the profit at the top of the cycle, but will not run out of cash by doing this. This is also the time to stop buying mining hardware. Don’t worry, you’ll be able to pick up that same hardware used for a fraction of the price at the next bottom.
As the price nears the top of the cycle, sell enough Bitcoin and other cryptocurrencies to meet the following projected costs:
  • Mining electricity costs for the next 12 months
  • Planned investment into new miners for the next cycle
  • Additional funds needed for things like supporting a family or buying a Lambo
  • Taxes on all the capital gains from the sale of cryptocurrencies
It may be worth selling 70-90% of crypto holdings, maintaining a reserve in case there is second upward move caused by government bankruptcies. But selling a large part of the crypto is helpful to maintaining profitability and having enough cash reserves to make it through the bottom part of the next cycle.
As the cycle has peaked and starts to decline, this is a good time to start investing in mining facilities and other infrastructure, brush up on trading skills, count your winnings, and take some vacation.
At the bottom of the cycle, it is time to start buying both used and new mining equipment. The bottom can be hard to recognize.
If you can continue to mine all the way through bottom part of the cryptocurrency pricing cycle, paying with the funds sold near the top, you will have a profitable and enjoyable cryptocurrency mining business. Any cryptocurrency you are able to hold onto will benefit from the price progression in the next higher cycle phase.

An Update on Horizen - formerly ZenCash

The team at Horizen recognizes the important part that GPU miners played in the early success of Zclassic and ZenCash, and there is always a welcoming attitude to any of ZEN miners, past and present. About 1 year after ZenCash launched, ASIC miners became available for the Equihash algorithm. Looking at a chart of mining difficulty over time shows when it was time for GPU miners to move to mining other cryptocurrencies.

Horizen Historical Block Difficulty Graph
Looking at the hashrate chart, it is straightforward to see that ASIC miners were deployed starting June 2018. It appears that there was a jump in mining hashrate in October of 2017. This may have been larger GPU farms switching over to mine Horizen, FPGA’s on the network, or early version of Equihash ASIC miners that were kept private.
The team understands the importance of the cryptocurrency price cycle as it affects the funds from the Horizen treasury and the investments that can be made. 20% of each block mined is sent to the Horizen non-profit foundation for use to improve the project. Just like miners have to manage money, the team has to decide whether to spend funds when the price is high or convert it to another form in preparation for the bottom part of the cycle.
During the rise and upper part of the last price cycle Horizen was working hard to maximize the value of the project through many different ways, including spending on research and development, project management, marketing, business development with exchanges and merchants, and working to create adoption in all the countries of the world.
During the lower half of the cycle Horizen has reduced the team to the essentials, and worked to build a base of users, relationships with investors, exchanges, and merchants, and continue to develop the higher priority software projects. Lower priority software development, going to trade shows, and paying for business partnerships like exchanges and applications have all been completely stopped.
Miners are still a very important part of the Horizen ecosystem, earning 60% of the block reward. 20% goes to node operators, with 20% to the foundation. In the summer of 2018 the consensus algorithm was modified slightly to make it much more difficult for any group of miners to perform a 51% attack on Horizen. This has so far proven effective.
The team is strong, we provide monthly updates on a YouTube live stream on the first Wednesday of each month where all questions asked during the stream are addressed, and our marketing team works to develop awareness of Horizen worldwide. New wallet software was released recently, and it is the foundation application for people to use and manage their ZEN going forward.
Horizen is a Proof of Work cryptocurrency, and there is no plan to change that by the current development team. If there is a security or centralization concern, there may be change to the algorithm, but that appears unlikely at this time, as the hidden chain mining penalty looks like it is effective in stopping 51% attacks.
During 2019 and 2020 the Horizen team plans to release many new software updates:
  • Sidechains modification to main software
  • Sidechain Software Development Kit
  • Governance and Treasury application running on a sidechain
  • Node tracking and payments running on a sidechain
  • Conversion from blockchain to a Proof of Work BlockDAG using Equihash mining algorithm
After these updates are working well, the team will work to transition Horizen over to a governance model where major decisions and the allocation of treasury funds are done through a form of democratic voting. At this point all the software developed by Horizen is expected to be open source.
When the governance is transitioned, the project should be as decentralized as possible. The goal of decentralization is to enable resilience and preventing the capture of the project by regulators, government, criminal organizations, large corporations, or a small group of individuals.
Everyone involved with Horizen can be proud of what we have accomplished together so far. Miners who were there for the early mining and growth of the project played a large part in securing the network, evangelizing to new community members, and helping to create liquidity on new exchanges. Miners are still a very important part of the project and community. Together we can look forward to achieving many new goals in the future.

Here are some links to find out more about Horizen.
Horizen Website – https://horizen.global
Horizen Blog – https://blog.horizen.global
Horizen Reddit - https://www.reddit.com/Horizen/
Horizen Discord – https://discord.gg/SuaMBTb
Horizen Github – https://github.com/ZencashOfficial
Horizen Forum – https://forum.horizen.global/
Horizen Twitter – https://twitter.com/horizenglobal
Horizen Telegram – https://t.me/horizencommunity
Horizen on Bitcointalk – https://bitcointalk.org/index.php?topic=2047435.0
Horizen YouTube Channel – https://www.youtube.com/c/Horizen/
Buy or Sell Horizen
Horizen on CoinMarketCap – https://coinmarketcap.com/currencies/zencash/

About the Author:

Rolf Versluis is Co-Founder and Executive Advisor of the privacy oriented cryptocurrency Horizen. He also operates multiple private cryptocurrency mining facilities with hundreds of operational systems, and has a blog and YouTube channel on crypto mining called Block Operations.
Rolf applies his engineering background as well as management and leadership experience from running a 60 person IT company in Atlanta and as a US Navy nuclear submarine officer operating out of Hawaii to help grow and improve the businesses in which he is involved.
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Thank you again for the Ask Me Anything - please do. I'll be checking the post and answering questions actively from 28 Feb to 6 Mar 2019 - Rolf
submitted by Blockops to gpumining [link] [comments]

Bitcoin Mining Power Sees Short-Term Drop as Rainy Season Ends in China

Bitcoin Mining Power Sees Short-Term Drop as Rainy Season Ends in China
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After sustained growth over the past three months, computing power on the bitcoin network has seen a fallback as the summer rainy season trails off in China.
According to data from Poolin, the world’s largest bitcoin mining pool by real time hash rate, bitcoin’s seven-day average computing (or hashing) power has dropped to around 90 exahashes per second (EH/s) since Oct. 24, signaling that some miners have been unplugging from the network. It had previously been estimated that the hash rate would go above the 100 EH/s threshold by the end of 2019
As a result of the power drop, data from mining pool service BTC.com estimates that bitcoin’s difficulty – a measure of how hard it is to compete for mining rewards on the world’s top cryptocurrency by market value – will decrease by 1.5 percent when it’s set to adjust in about seven days.
Bitcoin’s mining difficulty had reached an all-time-high at 13.69 trillion on Oct. 24, following a 38 percent increase since early August. The climb resulted mainly from an increase in miners’ hashing power made possible by the abundant and cheap hydroelectricity in China’s southwestern provinces.
Mining difficulty is designed to adjust itself to go up or down about every 14 days, based on whether the hashing power on the network in the two-week cycle increases or declines, respectively. The Oct. 24 difficulty record followed a jump in the 14-day average hash rate to an all-time-high at 97.90 EH/s.
Poolin’s co-founder Chris Zhu said in a recent WeChat post that one main reason for the fallback over the last week is the gradual end of this year’s rainy season in China. As a result, some hydropower stations in China’s Sichuan province – estimated to account for 50 percent of bitcoin’s global computing power – no longer have the capacity to generate enough energy to support mining activities.
Miners without sufficient hydropower supply would have to shut down their operations or relocate to other provinces like Xinjiang or Inner Mongolio, where mining farms have a more stable, but more expensive, power supply generated from fossil fuel plants.
Xun Zheng, CEO of Hashage, which owns mining facilities in China’s southwestern Sichuan province, echoed Zhu’s comments, adding that even if some may still be able to find a hydropower resource, the cost has gone up from $0.04 per kilowatt-hour (kWh) in the summer to around $0.05.
Further, bitcoin’s sudden price drop on Oct. 23 to below $7,500 could have resulted in a large scale of shutdown of older but widely used mining models like the AntMiner S9 made by Bitmain. The S9’s profit break-even price point is between $7,000 to $7,500. However, the price’s significant rebound since last weekend may have stopped that panic.
The fact remains, though, that the profitability of the S9 and other similar modes made by Bitmain’s rival miner makers, is a critical issue for their utility lifespan. And that may soon be affected by the higher winter cost of electricity in China, as well as the scheduled halving of bitcoin mining rewards in May 2020 – before next year’s rainy season.
According to a miner profitability index provided by Poolin and its rival F2pool, at bitcoin’s current price and an electricity cost of $0.05 kWh, the mining profit margin of models like S9 is about 30 percent.
Some, like INBTC, a sister company of Poolin, are currently making efforts to extend the life of the S9 miner by merging two units into one in an attempt to generate a higher ratio of hashing power over electricity consumption. That would allow a higher daily profit margin than would be achieved using two individual units, though it remains to be seen if such a method can be proven to work and adopted on a large scale.
submitted by Rajladumor1 to omgfin [link] [comments]

Ritocoin - a 100% community driven project based on Ravencoin


tl:dr: Ritocoin is a code fork of the Ravencoin codebase and continues to track future Ravencoin developments. The project was launched to provide a more community-oriented blockchain with the same functionality as Ravencoin, without a corporate overseer, and with a more flexible model for community participation and development. It’s intention is to be a hacker’s playground for innovative ideas.

Specifications

Proof-of-Work Algorithm: X21S
Block Time: 60 seconds
POW Block Reward: Smooth curve down
Community fund: 1% first year
Difficulty Retargeting: DGW-180
Maximum Supply:
6 months: 993,521,892 RITO
1 year: 1,227,448,858 RITO
5 years: 1,762,210,058 RITO
10 years: 1,820,404,381 RITO
50 years: 2,030,907,256 RITO
100 years: 2,293,707,246 RITO
Infinite: 10 RITO per block in perpetuity

Pre-mine: None
Masternodes: Researching for use case
Asset layer: Was enabled at height 50,000

Links
Website
/ritocoin
Explorer
Github
Whitepaper
twitter
[ANN]

X21S

This hashing algorithm was created specifically for Ritocoin, and was designed to resist FPGAs, ASICs, and NiceHash. It is X16S (16 algorithms shuffled and hashed),, followed by 5 additional hashing algorithms: haval256, tiger, lyra2, gost512, and sha256. The inclusion of lyra2 brings numerous advantages, making parallelization of the algorithm practically impossible, with each step relying on the previous step having already been computed. It is a “friendly” algorithm that makes GPUs produce much less heat and uses less electricity during mining.

Take your time to learn more about us in the below story of Ritocoin...

The spirit of Bitcoin continues to inspire, empower and enable people around the globe. Ten years later, just as it seemed Bitcoin was being defined by commercial agents and regulated governance, that same free and independent spirit imbued the Ravencoin community. In ten short months, however, 30% of the Ravencoin project’s net hash comes from NiceHash and the looming impact of the imminent FPGA mining cards and X16R bitstreams certainly promises to shake up the dream of this GPU miner’s darling.

Ravencoin’s fair launch genuinely inspired our developers and supporters. We admire the way Ravencoin came out swinging — fighting for fairness, an honest distribution of coins and a place where GPU miners could thrive. The asset layer attracted many more miners and investors to the pools. Many Ritocoin enthusiasts came from the Ravencoin community, and continue their association with that project.

The whole crypto ecosystem should appreciate the work begun by Ravencoin. Obviously they continue to inspire and motivate us to this day. It’s the reason we took action. We decided to start our own project which focuses upon at least two pillars of decentralized networks in the crypto space: community governance and a fair distribution of coins. It is a core belief throughout Ritocoin that in order to successfully develop and maintain this hacker’s playground — a place where a broad range of ideas could be tried and allowed to flourish — these two ideals must be allowed to drive and guide our community.

This deep focus on community choices creates a project flexible enough to support most ideas, and agile enough to define new frontiers.

A mining network’s distributed ledger is defined by its technology. Like many in the broader crypto-mining community, we value the GPU for its accessibility. These processors are available for purchase all around the world without any legal restrictions. GPUs are vastly more accessible for hobbyists and miners to acquire. They can be shipped nearly anywhere around the globe, a nice benefit to the popular secondary market which has sprung up much to the chagrin of PC gamers.

More constraints exist for the ASIC and FPGA miner. Laws in some parts of the world restrict people from using or buying ASIC and FPGA mining hardware. This alone is directly in confrontation with Ritocoin’s core values of decentralized stewardship and sovereignty.

The GPU, in essence, is like your voice. Anyone with the means of acquiring one GPU should be able to have their voice heard. ASIC and FPGA mining devalues the GPU miner’s voice and silos that coin’s network away from the small scale and personal mining operator. A truly community driven project means each stakeholder, regardless of size of contribution to the network’s net hash, has an opportunity to build, vote and direct.

If you are already familiar with our website, discord or whitepaper, you are probably aware that masternodes had been proposed as a feature of the network from the beginning. This opened the door to ongoing discussions in the Ritocoin community regarding

● A masternode’s true purpose

● What benefit they provide to the project

● How the benefit is realized

● The collateral

This discussion, governed entirely by stakeholders across the extended network yielded a defining moment for our vision of flexibility. We have not yet found the potential utility of masternodes, however, the conversation has not reached an extent to where we could abandon the idea. To quote one of our developers during this discussion on our Discord:

“Just want to give a reminder here that even though masternodes are on the roadmap, it is not set in stone. This coin belongs to the community and we will do what we as a community want to do. If we conclude that we want to take this coin a different direction than masternodes, then that is what we’ll do.” --traysi

We are all volunteers at Ritocoin. Our moderators and community leaders try to give immediate support to all users that require it. Contact us in Discord or Telegram, not only for support, but, proposing new ideas, revising old ones and just so you can find a place to get together and find people to hang out with. You are well within your rights to enjoy yourself at any given moment, and, should you feel so inclined to begin working with the team, we just so happen to be looking for ambitious individuals that see themselves as being part of a greater vision, are inspired by change, and inspired to be the change they want to see making things better in this world.

Join us in a space where your ideas to build something great can become a reality. We are eager to know what you think is best for the future of Rito. What steps would you take to become more resilient, stronger, fair and decentralized? Because at the end of the day, like it or not, love it or leave it.. this is your coin, too.

You can become a significant part of this project. We will help you further develop the role you wish to fill in the cryptocurrency space — influencer, developer, analyst, you name it. This is not a just-for-developer’s playground. We want the enthusiasts. We want the perplexed and the rabbit-hole divers. This is the coin for everyone who is trying to find their place on the path that Satoshi began unfolding in 2008 after the collapse of the housing market rippled out into the subsequent crash of global markets. That’s why we have Bitcoin, remember? Be your own bank. This is why Satoshi and Bitcoin.org kept their software open source. It’s up to us to keep the torch ablaze.

Community funds

For the first year, about 1% of mined coins are set aside into a developers fund that is used to provide bounties to the community developers who make substantial development contributions to the Ritocoin ecosystem. We have already paid out numerous bounties for important work that has already benefits Ritocoin in substantial ways. We also have another donation-driven community fund that has recently been put together for the purposes of doing fun contests and things like that.

Cooperation and collaborations

We have discovered a number of fatal flaws in the original Ravencoin codebase and worked with the Ravencoin developers to get those fixed in both Ritocoin and Ravencoin. This work has benefitted Ravencoin in numerous ways and we look forward to a long time of collaboration and cooperation between us and them. Many members of the Safecoin team are also in our discord group, and have collaborated with us in shaping the future decisions of Ritocoin. We have several thousand members in our group and they represent all walks of cryptocurrency life. We invite all coin developers, miners and enthusiasts to join our discord and be a part of this coin that truly belongs entirely to the community.

Block reward

A couple weeks ago we met for a scheduled meeting in our discord group and had a lengthy conversation about the block reward. Our block reward started at 5,000 RITO per block (every 60 seconds) just like Ravencoin. This extremely high number of coins coupled with the high profitability of mining led to unforeseen consequences with pools auto-exchanging the coin into bitcoin. This dumping by non-community miners had a very negative impact on the community sentiment and morale, as we watched the exchange price plunge. We looked at other coins and realized that this fate has befell many other coins with high block rewards. Following much discussion, we decided to change the reward structure. Starting around March 19th the block rewards will start to slowly go down in a curve until it reaches 1,000. Then the reduction will be even more slowed down with block rewards exponentially dropping at periodic intervals. We have posted charts on our website that shows what the long-term effects of our reward reducing algorithms will be. As a miner, the next 2 months will be a great time to mine and hold, while the block reward is still fairly high. We encourage all miners and cryptocurrency enthusiasts to take advantage of the current favourable block reward and build a nice holding for yourself. Then join the community and be a part of the fun we’re having with this project.
This post was prepared by a collaboration of multiple Ritocoin members and was posted to reddit by the core developer Trevali, who posts to reddit under the ritocoin username and will be very happy to answer any questions anybody may have about our project. Traysi (well known in the Ravencoin community) is also an active Ritocoin developer and may come to this thread if needed.
We welcome any questions from any of you regarding our project!
submitted by ritocoin to gpumining [link] [comments]

Powerful New Ethereum Miner Reaches Final Stage Before Mass Production

Powerful New Ethereum Miner Reaches Final Stage Before Mass Production

https://preview.redd.it/ao78avnae4m31.png?width=860&format=png&auto=webp&s=11f62e6227dc7d93e9a6c2c3874782fcd4892b59
News by Coindesk: Wolfie Zhao
After a nine-month delay and $3.8 million of investment, an upstart manufacturer is ready to produce its first batch of powerful new machines for mining cryptocurrencies ethereum and ethereum classic.
Linzhi, based in Shenzen, China, said Wednesday it had ordered 37 wafers from Taiwan Semiconductor Manufacturing Company, the main parts that will allow it to build about 200 application-specific integrated circuit (ASIC) miners.
These sample units will test whether the machines can mine as efficiently as they are designed to do using ethash, the proof-of-work algorithm used on ethereum and ethereum classic.
The testing units, if successful, would mark a major step toward mass production as Linzhi sets out to compete with makers of general-purpose computing chips, such as NIVIDA, as well as mining gear specialists Bitmain and InnoSilicon, which both make ASIC miners for the ethash algorithm.
Roughly five million ether (ETH), the native cryptocurrency on the ethereum network, is being mined every year, which, at its current price, is worth more than $800 million. Even for ethereum classic, which maintains the original ethereum ledger from before a hard fork in 2016, about nine million native ETC gets mined every year, worth more than $60 million.

Powerful chips

Linzhi was founded in February 2018 by Chen Min, a former chip design head at Canaan Creative, maker of the Avalon bitcoin miner. Chen told CoinDesk the new company was completely self-funded with about $4 million as starting capital.
It announced the plan to produce ethash ASIC miners in September 2018 with an ambition to beat the efficiency of most existing equipment. Chen’s target specification for Linzhi’s ethash ASIC miner is set at 1400 mega hashes per second (MH/s) with an electricity consumption level of one kilowatt-hour.
To put those figures in perspective, NVIDIA’s GTX TitanV 8 card is now one of the most profitable piece of equipment on the ethash algorithm, able to compute 656 MH/s at an energy consumption level of 2.1 kWh, according to mining pool f2pool’s miner profitability index,
With ETH’s current price ($180) and network difficulty, as well as an electricity cost of $0.04 per kWh, each GTX TitanV 8 would bring home a daily profit of $7.35. Similarly, if one uses the same GTX TitanV 8 card to mine ETC, which has both a lower price and a lower mining difficulty than ETH, the daily profit would still be around $6.70.
The total computing power racing on ethereum and ethereum classic to compete for block rewards and to secure the two networks is around 160 and 13 tera hashes per second (TH/s), respectively.

Plan A

Since the announcement of its plan, Linzhi has spent almost all of its initial capital on research and development of the chip design, the operations of its dozen-person team, and the order of the first batch of wafers, to bet the sample testing units will deliver the intended mining power.
Linzhi previously said it was aiming to order the first batch of wafers around December in order to have samples ready in April and mass production in June.
Speaking of the delay, the company said:
“We underestimated the complexity of the chip and how long it would take to grow the team and make the company functional. We are cautiously optimistic that we can just move forward the rest of the schedule, which would mean 12/2019 for sample machines and 02/2020 for mass production.”
One possible risk for the business is that the ethereum community has previously voted to activate the so-called ProgPow algorithm in order to remove the edge maintained by large miners that can afford expensive, specialized chips, although the timing for that switch is not yet decided. (Eventually, ethereum developers want to transition from proof-of-work to proof-of-stake, which would eliminate mining altogether.)
When asked if Linzhi has any Plan B if the switch happens, Chen said the company is, in fact, more active in the ETC community, adding:
“Our plan A is to focus on ETC mining. So if ETH will still be an option, that’s something good to have. In the ethereum community, the ProgPow plan still has some uncertainty. For the time being, we don’t see it as a market that we will obtain, so I don’t really care that much.”

Reverse discount

In an arguably counterintuitive move, Chen said the company plans to adopt what it calls a “reverse discount” strategy when it starts to take in pre-orders if sample units prove to be successful. That would mean the more you buy, the more you are likely going to pay.
The reason is to discourage any single entity from buying too many machines and thus concentrating power over the network.
While Linzhi has not yet decided on final pricing for each unit to be sold at pre-orders, it says the goal is to achieve a payback period of four months for individual miners with a relatively small number of orders.
“This is our efforts and contribution to the idea of decentralization,” Chen said, concluding:
“Our sales will go to developers and community first, with a focus on geographical distribution, and potentially with a malus [reverse discount] for large orders. This means that small orders by individuals would be priced to hit the 4 month [return of investment] and larger orders would pay more.”
Mining equipment image via CoinDesk archive
submitted by GTE_IO to u/GTE_IO [link] [comments]

What is SUQA project – How to mine SUQA coin

What is SUQA project – How to mine SUQA coin
SUQA coin is fast (533 Transactions per second) and almost No Transaction Fees. This makes it unique comparing with other projects.
SUQA is a new digital currency that has a new X22i POW algo. X22i algo is not a copy or clone of any old one but it is completely ASIC, FPGA and Quantum Resistant.
SUQA project also have a newest feature that u can 5% apr interest from term deposits even if the wallet is offline.
SUQA project aims to create the hub with SUQA payments and without taking any fees.
SUQA has a unique time-lock interest system for every user to earn deposits from their wallets without technical knowledge.
Since SUQA project is a new, unique ASIC, FPGA, Quantum resistant algorithm is very helpful for the mining community and solves numerous problems for miners. For example if you have a one GPU or only one rig you will be able to mine to the last block of SUQA without comparing any ASIC or FPGA device because SUQA will renew the algo every 6 months.
In real life SUQA will support the its community by foundation activities like mining, donations, bounty campaigns. ect.SUQA coin can be mined by GPUs (Nvidia and AMD) and CPUs. But it is only possible to mine it profitable by GPUs. SUQA unique X22i algo is also energy efficient and make your GPUs to less heat.
How To Mine SUQA coin
To mine SUQA coin 1) you need to find a miner software based on the GPU you have. 2) Download wallet and get a SUQA wallet address. 3) And then select a good pool.
Suqa Coin Algo: X22i
MINER:
– AMD:zjazz_amd_minerhttps://github.com/zjazz/zjazz_amd_minereleases
– NVIDIA:ccminer x22i win64 binary releasehttps://github.com/SUQAORG/ccminer-x22i/releases
zjazz_cuda_minerhttps://github.com/zjazz/zjazz_cuda_minereleases/tag/1.0
Trexhttps://bitcointalk.org/index.php?topic=4432704.0
Example for trex miner .bat code:t-rex.exe -a x22i -o stratum+tcp://suqa-pool.beepool.org:9504 -u YourSUQAWallet.WorkerName -p c=SUQA -R 3

https://preview.redd.it/3k92xaieh8221.jpg?width=757&format=pjpg&auto=webp&s=5b5d8259fd9847a9c003187ed7f8fa5ae14e5de2

SUQA coin hashrate, SUQA coin mining performance

Nvidia GTX 1070 – 6.4MH/s (Gigabyte GTX 1070 OC )– Nvidia GTX 1070 Ti – 7.5 Mh/s (Gigabyte GTX 1070Ti OC )– Nvidia GTX 1080Ti – 11.5 Mh/s (MSI GTX 1080Ti)
– AMD RX580 – 3.2 Mh/s (Sapphire RX 580)

SUQA coin Mining Profitability

Mining SUQA coin you will get this: SUQA price is now ~ $0,005546 (138 satoshi)
– 120 SUQA / GTX 1080Ti daily– 75 SUQA / GTX 1070 Ti daily– 65 SUQA / 7x GTX 1070 daily
SUQA coin Mining Pools: https://bsod.pw https://icemining.ca https://beepool.org/coindetail/suqaand for more pools https://discord.gg/ArttaNA
SUQA coin Difficulty: 8824.28235 @ block 22 179
SUQA coin block reward: 5000
SUQA coin Exchange Markets:Suqa coin is now on
Official Exchanges – Check on CoinMarketCap
  1. Escodexhttps://wallet.escodex.com/market/ESCODEX.SUQACOIN_ESCODEX.BTC
  2. Stexhttps://app.stex.com/en/basic-trade/paiBTC/SUQA/1D
  3. QBTChttps://www.myqbtc.com/trade
And Crypto-Bridge is on the wayhttps://wallet.crypto-bridge.org/market/BRIDGE.SUQA_BRIDGE.BTC
Website: https://suqa.org
Whitepaper: https://suqa.org/file/2018/10/suqa-whitepaper.pdf
BitcoinTalk: https://bitcointalk.org/index.php?topic=5038269.0
GitHub: https://github.com/SUQAORG
Twitter: https://twitter.com/SUQAfoundation
Facebook: https://facebook.com/SUQAFoundation
Discord: https://discord.gg/ArttaNA
Author: uk baxoi
profile: https://bitcointalk.org/index.php?action=profile;u=2364181
submitted by mahdi32 to gpumining [link] [comments]

Decred Journal — May 2018

Note: New Reddit look may not highlight links. See old look here. A copy is hosted on GitHub for better reading experience. Check it out, contains photo of the month! Also on Medium

Development

dcrd: Significant optimization in signature hash calculation, bloom filters support was removed, 2x faster startup thanks to in-memory full block index, multipeer work advancing, stronger protection against majority hashpower attacks. Additionally, code refactoring and cleanup, code and test infrastructure improvements.
In dcrd and dcrwallet developers have been experimenting with new modular dependency and versioning schemes using vgo. @orthomind is seeking feedback for his work on reproducible builds.
Decrediton: 1.2.1 bugfix release, work on SPV has started, chart additions are in progress. Further simplification of the staking process is in the pipeline (slack).
Politeia: new command line tool to interact with Politeia API, general development is ongoing. Help with testing will soon be welcome: this issue sets out a test plan, join #politeia to follow progress and participate in testing.
dcrdata: work ongoing on improved design, adding more charts and improving Insight API support.
Android: design work advancing.
Decred's own DNS seeder (dcrseeder) was released. It is written in Go and it properly supports service bit filtering, which will allow SPV nodes to find full nodes that support compact filters.
Ticket splitting service by @matheusd entered beta and demonstrated an 11-way split on mainnet. Help with testing is much appreciated, please join #ticket_splitting to participate in splits, but check this doc to learn about the risks. Reddit discussion here.
Trezor support is expected to land in their next firmware update.
Decred is now supported by Riemann, a toolbox from James Prestwich to construct transactions for many UTXO-based chains from human-readable strings.
Atomic swap with Ethereum on testnet was demonstrated at Blockspot Conference LATAM.
Two new faces were added to contributors page.
Dev activity stats for May: 238 active PRs, 195 master commits, 32,831 added and 22,280 deleted lines spread across 8 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: rapid growth from ~4,000 TH/s at the beginning of the month to ~15,000 at the end with new all time high of 17,949. Interesting dynamic in hashrate distribution across mining pools: coinmine.pl share went down from 55% to 25% while F2Pool up from 2% to 44%. [Note: as of June 6, the hashrate continues to rise and has already passed 22,000 TH/s]
Staking: 30-day average ticket price is 91.3 DCR (+0.8), stake participation is 46.9% (+0.8%) with 3.68 million DCR locked (+0.15). Min price was 85.56. On May 11 ticket price surged to 96.99, staying elevated for longer than usual after such a pump. Locked DCR peaked at 47.17%. jet_user on reddit suggested that the DCR for these tickets likely came from a miner with significant hashrate.
Nodes: there are 226 public listening and 405 normal nodes per dcred.eu. Version distribution: 45% on v1.2.0 (up from 24% last month), 39% on v1.1.2, 15% on v1.1.0 and 1% running outdaded versions.

ASICs

Obelisk team posted an update. Current hashrate estimate of DCR1 is 1200 GH/s at 500 W and may still change. The chips came back at 40% the speed of the simulated results, it is still unknown why. Batch 1 units may get delayed 1-2 weeks past June 30. See discussions on decred and on siacoin.
@SiaBillionaire estimated that 7940 DCR1 units were sold in Batches 1-5, while Lynmar13 shared his projections of DCR1 profitability (reddit).
A new Chinese miner for pre-order was noticed by our Telegram group. Woodpecker WB2 specs 1.5 TH/s at 1200 W, costs 15,000 CNY (~2,340 USD) and the initial 150 units are expected to ship on Aug 15. (pow8.comtranslated)
Another new miner is iBelink DSM6T: 6 TH/s at 2100 W costing $6,300 (ibelink.co). Shipping starts from June 5. Some concerns and links were posted in these two threads.

Integrations

A new mining pool is available now: altpool.net. It uses PPLNS model and takes 1% fee.
Another infrastructure addition is tokensmart.io, a newly audited stake pool with 0.8% fee. There are a total of 14 stake pools now.
Exchange integrations:
OpenBazaar released an update that allows one to trade cryptocurrencies, including DCR.
@i2Rav from i2trading is now offering two sided OTC market liquidity on DCUSD in #trading channel.
Paytomat, payments solution for point of sale and e-commerce, integrated Decred. (missed in April issue)
CoinPayments, a payment processor supporting Decred, developed an integration with @Shopify that allows connected merchants to accept cryptocurrencies in exchange for goods.

Adoption

New merchants:
An update from VotoLegal:
michae2xl: Voto Legal: CEO Thiago Rondon of Appcívico, has already been contacted by 800 politicians and negotiations have started with four pre-candidates for the presidency (slack, source tweet)
Blockfolio rolled out Signal Beta with Decred in the list. Users who own or watch a coin will automatically receive updates pushed by project teams. Nice to see this Journal made it to the screenshot!
Placeholder Ventures announced that Decred is their first public investment. Their Investment Thesis is a clear and well researched overview of Decred. Among other great points it noted the less obvious benefit of not doing an ICO:
By choosing not to pre-sell coins to speculators, the financial rewards from Decred’s growth most favor those who work for the network.
Alex Evans, a cryptoeconomics researcher who recently joined Placeholder, posted his 13-page Decred Network Analysis.

Marketing

@Dustorf published March–April survey results (pdf). It analyzes 166 responses and has lots of interesting data. Just an example:
"I own DECRED because I saw a YouTube video with DECRED Jesus and after seeing it I was sold."
May targeted advertising report released. Reach @timhebel for full version.
PiedPiperCoin hired our advisors.
More creative promos by @jackliv3r: Contributing, Stake Now, The Splitting, Forbidden Exchange, Atomic Swaps.
Reminder: Stakey has his own Twitter account where he tweets about his antics and pours scorn on the holders of expired tickets.
"Autonomy" coin sculpture is available at sigmasixdesign.com.

Events

BitConf in Sao Paulo, Brazil. Jake Yocom-Piatt presented "Decentralized Central Banking". Note the mini stakey on one of the photos. (articletranslated, photos: 1 2 album)
Wicked Crypto Meetup in Warsaw, Poland. (video, photos: 1 2)
Decred Polska Meetup in Katowice, Poland. First known Decred Cake. (photos: 1 2)
Austin Hispanic Hackers Meetup in Austin, USA.
Consensus 2018 in New York, USA. See videos in the Media section. Select photos: booth, escort, crew, moon boots, giant stakey. Many other photos and mentions were posted on Twitter. One tweet summarized Decred pretty well:
One project that stands out at #Consensus2018 is @decredproject. Not annoying. Real tech. Humble team. #BUIDL is strong with them. (@PallerJohn)
Token Summit in New York, USA. @cburniske and @jmonegro from Placeholder talked "Governance and Cryptoeconomics" and spoke highly of Decred. (twitter coverage: 1 2, video, video (from 32 min))
Campus Party in Bahia, Brazil. João Ferreira aka @girino and Gabriel @Rhama were introducing Decred, talking about governance and teaching to perform atomic swaps. (photos)
Decred was introduced to the delegates from Shanghai's Caohejing Hi-Tech Park, organized by @ybfventures.
Second Decred meetup in Hangzhou, China. (photos)
Madison Blockchain in Madison, USA. "Lots of in-depth questions. The Q&A lasted longer than the presentation!". (photo)
Blockspot Conference Latam in Sao Paulo, Brazil. (photos: 1, 2)
Upcoming events:
There is a community initiative by @vj to organize information related to events in a repository. Jump in #event_planning channel to contribute.

Media

Decred scored B (top 3) in Weiss Ratings and A- (top 8) in Darpal Rating.
Chinese institute is developing another rating system for blockchains. First round included Decred (translated). Upon release Decred ranked 26. For context, Bitcoin ranked 13.
Articles:
Audios:
Videos:

Community Discussions

Community stats: Twitter 39,118 (+742), Reddit 8,167 (+277), Slack 5,658 (+160). Difference is between May 5 and May 31.
Reddit highlights: transparent up/down voting on Politeia, combining LN and atomic swaps, minimum viable superorganism, the controversial debate on Decred contractor model (people wondered about true motives behind the thread), tx size and fees discussion, hard moderation case, impact of ASICs on price, another "Why Decred?" thread with another excellent pitch by solar, fee analysis showing how ticket price algorithm change was controversial with ~100x cut in miner profits, impact of ticket splitting on ticket price, recommendations on promoting Decred, security against double spends and custom voting policies.
@R3VoLuT1OneR posted a preview of a proposal from his company for Decred to offer scholarships for students.
dcrtrader gained a couple of new moderators, weekly automatic threads were reconfigured to monthly and empty threads were removed. Currently most trading talk happens on #trading and some leaks to decred. A separate trading sub offers some advantages: unlimited trading talk, broad range of allowed topics, free speech and transparent moderation, in addition to standard reddit threaded discussion, permanent history and search.
Forum: potential social attacks on Decred.
Slack: the #governance channel created last month has seen many intelligent conversations on topics including: finite attention of decision makers, why stakeholders can make good decisions (opposed to a common narrative than only developers are capable of making good decisions), proposal funding and contractor pre-qualification, Cardano and Dash treasuries, quadratic voting, equality of outcome vs equality of opportunity, and much more.
One particularly important issue being discussed is the growing number of posts arguing that on-chain governance and coin voting is bad. Just a few examples from Twitter: Decred is solving an imagined problem (decent response by @jm_buirski), we convince ourselves that we need governance and ticket price algo vote was not controversial, on-chain governance hurts node operators and it is too early for it, it robs node operators of their role, crypto risks being captured by the wealthy, it is a huge threat to the whole public blockchain space, coin holders should not own the blockchain.
Some responses were posted here and here on Twitter, as well as this article by Noah Pierau.

Markets

The month of May has seen Decred earn some much deserved attention in the markets. DCR started the month around 0.009 BTC and finished around 0.0125 with interim high of 0.0165 on Bittrex. In USD terms it started around $81 and finished around $92, temporarily rising to $118. During a period in which most altcoins suffered, Decred has performed well; rising from rank #45 to #30 on Coinmarketcap.
The addition of a much awaited KRW pair on Upbit saw the price briefly double on some exchanges. This pair opens up direct DCR to fiat trading in one of the largest cryptocurrency markets in the world.
An update from @i2Rav:
We have begun trading DCR in large volume daily. The interest around DCR has really started to grow in terms of OTC quote requests. More and more customers are asking about trading it.
Like in previous month, Decred scores high by "% down from ATH" indicator being #2 on onchainfx as of June 6.

Relevant External

David Vorick (@taek) published lots of insights into the world of ASIC manufacturing (reddit). Bitmain replied.
Bitmain released an ASIC for Equihash (archived), an algorithm thought to be somewhat ASIC-resistant 2 years ago.
Three pure PoW coins were attacked this month, one attempting to be ASIC resistant. This shows the importance of Decred's PoS layer that exerts control over miners and allows Decred to welcome ASIC miners for more PoW security without sacrificing sovereignty to them.
Upbit was raided over suspected fraud and put under investigation. Following news reported no illicit activity was found and suggested and raid was premature and damaged trust in local exchanges.
Circle, the new owner of Poloniex, announced a USD-backed stablecoin and Bitmain partnership. The plan is to make USDC available as a primary market on Poloniex. More details in the FAQ.
Poloniex announced lower trading fees.
Bittrex plans to offer USD trading pairs.
@sumiflow made good progress on correcting Decred market cap on several sites:
speaking of market cap, I got it corrected on coingecko, cryptocompare, and worldcoinindex onchainfx, livecoinwatch, and cryptoindex.co said they would update it about a month ago but haven't yet I messaged coinlib.io today but haven't got a response yet coinmarketcap refused to correct it until they can verify certain funds have moved from dev wallets which is most likely forever unknowable (slack)

About This Issue

Some source links point to Slack messages. Although Slack hides history older than ~5 days, you can read individual messages if you paste the message link into chat with yourself. Digging the full conversation is hard but possible. The history of all channels bridged to Matrix is saved in Matrix. Therefore it is possible to dig history in Matrix if you know the timestamp of the first message. Slack links encode the timestamp: https://decred.slack.com/archives/C5H9Z63AA/p1525528370000062 => 1525528370 => 2018-05-05 13:52:50.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Your feedback is precious. You can post on GitHub, comment on Reddit or message us in #writers_room channel.
Credits (Slack names, alphabetical order): bee, Richard-Red, snr01 and solar.
submitted by jet_user to decred [link] [comments]

Ecommerce store for miners across the globe

BEST TIME FOR MINING IS NOW!
Best time for mining is now. The network hashrate is down, The prices of mining equipment is at all time low. We are resellers of cryptocurrency mining equipment, Legal registered entity operating out of NEVADA, USA.
This is great opportunity to enter the crypto world through mining. Mine your coins now in this bear market & make 100X profit once the market turn bullish.
We offer miners for sale at the most competitive prices across the globe. Just buy an ASIC receive it, plug it in the socket, change your bitcoin address and point it towards a mining pool and VOILA! You are now mining at full hash power.
Antminer S9 14 th/s $199
Antminer Z9 mini $599
ANTMINER Z9 $1599
Antminer D3 $299
Dragonmint T1 $699
Innosilicon A9 $1999
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Newest range of Bitcoin Asic miners, Ethereum integrated miners, specially for miners at incredible prices. Our warehouse has gone digital, limited stock so hurry up and grab this opportunity and place your orders before the stock goes out.
The miners we recommend for mining are
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submitted by Niftygeek to EtherMining [link] [comments]

SUQA - The Investment potential of the coin and its deposit advantages

Hello, friends!

https://preview.redd.it/a3n0oc66t3421.png?width=800&format=png&auto=webp&s=0d916036f4ad74071e200a3fc33db2fdf2935f41
Today I want to continue to talk about a very promising project called SUQA.
SUQA is a unique company founded in 2018 by a small group of people with serious skills in programming, design and blockchain technology. The SUQA project team was able to form the idea, values and life path of the coin. It is important to note that the financing of the project was carried out by the team members themselves, as well as ordinary private investors who noticed huge prospects in this coin. Within a few months, the team managed to improve the bitcoin blockchain on the new SUQA network, eliminating vulnerabilities and upgrading it so that the SUQA blockchain was almost 100% secure and not subject to a hacker attack.
The team has developed an algorithm to reward all owners to attract great interest in the coin. In the first 3 months of running the algorithm, you can get 25% of the amount of invested SUQA coins per month, and after 3 months – 5% per month.

https://preview.redd.it/0op7ux1ct3421.png?width=784&format=png&auto=webp&s=fb70a381fc94423e77e29e43c61ee1dd04d9de05

SUQA coins were not generated for the purpose of their subsequent sale to investors on ICO – this is the main uniqueness of the project, but not the only one.
What makes SUQA special?
Possibility of passive income
The project team decided to reward all coin holders with 5% deductions monthly. Look how the system of income works:
Buy / mine SUQA coins on your wallet. Cold wallet is the best way to store coins. You can download it here https://github.com/SUQAORG/SUQA-CORE/releases
I explained in detail how the SUQA coin deposit process works in the picture below.

https://preview.redd.it/bgt7p6ixs3421.png?width=845&format=png&auto=webp&s=cd3a7016b4393dcf7872ee02142cc1994e8a3db2

SUQA promises 25% profitability for each month of holding tokens in the cold wallet. At the end of 3 months for each month of storage you will receive 5% of the amount of frozen coins.
High transaction speed
SUQA coin has a high transaction speed - 533 per second. This is 75 times higher than bitcoin! Today, this fact is a serious advantage over the main competitors.I am sure that this is not the limit of possible speed for developers and it will be even more in the future. There are practically no transaction fees in the SUQA ecosystem.
X22i algorithm
X22i is an unique PoW algorithm developed by the SUQA team. It is worth noting that at the moment X22i is the most energy efficient of all the algorithms on the market, as it works steeper and does not consume a lot of energy. The algorithm has super stability to ASIC miners and quantum computers.By the way, guys, CPU mining is very easy and available from the desktop wallet. GPU mining is available from open source GPU miners just by adding the server and wallet address.The best hashing miner software for 1080ti is Cryptodredge because it's currently fastest miner for x22i. Here download links https://github.com/technobyl/CryptoDredge/releases/tag/v0.11.0
Important advantages over competitors

https://preview.redd.it/26vy3ym1t3421.png?width=882&format=png&auto=webp&s=509c61f81db4a6a24a6e6a7d6d95dbb16d59f9d1

Conclusion
I have extensive experience in mining various kinds of cryptocurrencies, and I can say with confidence that SUQA is very promising coin. It is important to note that the team is constantly improving its product and trying to be sociable with its users. This is a huge advantage over competitors.
More info
To learn more about all the latest information about SUQA, you can join the discord channel or telegram channel
Website / ANN thread
____________________
Author - artur2403 / Uniqueness - 100%
submitted by artkld39 to Crypto_General [link] [comments]

SUQA - Profitability of mining, Investment potential, Roadmap 2.0

SUQA - Profitability of mining, Investment potential, Roadmap 2.0
https://preview.redd.it/n1lxwyl3bx421.png?width=947&format=png&auto=webp&s=fb345eb3716e74cf8398798147bcca52c869cbac

Hello, guys!
Today I want to talk about a serious topic - the profitability of mining because of the long bear market. It is no secret that today all cryptocurrencies that include PoS, PoW and masternodes are experiencing serious problems. Many users do not understand what is happening in the cryptocurrency mining market now, as prices have dropped very much and people have practically abandoned mining. By the way, recently watched a video on twitter about how chinese throw away ASIC miners to the dump.

https://preview.redd.it/4ejh3ek98x421.png?width=785&format=png&auto=webp&s=b0168fd87d14f9d05a955048683f13d2feb336bc
Bitcoin Network Hash Rate Down 25 Percent from Peak
Of course, the situation is really sad, but do not despair, because recently there was a new coin on the GPU and CPU mining market called SUQA. The developers of this coin were able to launch a new POW mining algorithm called X22i, which revives the profitability of mining for many users. I was immediately interested in this algorithm.
X22i is an unique PoW algorithm developed by the SUQA team. It is worth noting that at the moment X22i is the most energy efficient of all the algorithms on the market, as it works steeper and does not consume a lot of energy. The algorithm has super stability to ASIC miners and quantum computers.By the way, guys, CPU mining is very easy and available from the desktop wallet. GPU mining is available from open source GPU miners just by adding the server and wallet address.The best hashing miner software for 1080ti is Cryptodredge because it's currently fastest miner for x22i. Here download links https://github.com/technobyl/CryptoDredge/releases/tag/v0.11.0
What makes SUQA special?
It's no secret that today there are many cryptocurrencies, some of which are pacifiers. Undoubtedly this is a sad statistics. SUQA developers plan to become a leader in the cryptocurrency market by creating a decentralized ecosystem for various charitable organizations and blockchain startups.
Developers reward miners with SUQA tokens for the speedy implementation of their plans. They take a 10% сommission that will be used to fund developers and their various purposes, such as marketing companies, exchanges listing, website development, legal fees and bounties campaigns.
SUQA coin has a high transaction speed - 533 per second. This is 75 times higher than bitcoin! Today, this fact is a serious advantage over the main competitors.I am sure that this is not the limit of possible speed for developers and it will be even more in the future. There are practically no transaction fees in the SUQA ecosystem. It's really great, guys!
It is important to note that SUQA Foundation is only 2 months old, but it already has a large multilingual community in social networks. The project has an open team for all users that unites them from all over the world. SUQA is a global ecosystem that attracts not only experienced miners, but also more newcomers.

https://preview.redd.it/yuo77n7j8x421.png?width=777&format=png&auto=webp&s=61aa0c754041de27fd2080cf2420f67026ac8cc9

Investment potential.
Now the market situation makes us look for new options for investment. There are very few really promising projects on the market that have so many prominent features, one of which is time locked interest. It provides all users with a guaranteed opportunity to earn from their term deposits up to 5% per annum when time locked up to 4 weeks. But there's more! The developers provide an opportunity for early investors to receive an interest rate of 25% during the first 3 months! Looks attractive, doesn't it?I am sure that you should not worry about your deposit, because the developers of SUQA already have serious partnership agreements with a very fast, secure, private and automated deposit escrow service. The SUQA wallet also has a time-lock interest that can be used for all business or private transactions.
In short, the developers of the project have all the prerequisites to become one of the leaders in the mining market, so SUQA is an ideal project for investment. Going forward, I have no doubt that SUQA Team will continue to follow through on roadmap plans as they have done so far.
Roadmap 2.0
Btw, the devs introduced new and updated version of SUQA roadmap 2.0. The changes they’ve implemented will ensure that SUQA will run smoothly and will have increased use cases and benefits to the community and the ecosystem as a whole.

https://preview.redd.it/fmghlbjiax421.jpg?width=533&format=pjpg&auto=webp&s=f22b7839a1dcbedb70abdf941401fe3fcbea22a8

SUQA White Paper Version 2 will be released on the hard fork date with the latest implementations.

I think It's time to buy more SUQA coins! xD
More info
To learn more about all the latest information about SUQA, you can join the discord channel or telegram channel
Website / ANN thread
____________________
Author - artur2403 / Uniqueness - 100%
submitted by artkld39 to CryptoMangust [link] [comments]

SUQA revitalizes profitability of mining for many users.

SUQA revitalizes profitability of mining for many users.

https://preview.redd.it/lk5bjvbm8k021.png?width=800&format=png&auto=webp&s=510c6c56abbf65e22726734c3e7c1ca7e1bb91ba
Hello, guys!
Today I want to talk about a serious topic - the profitability of mining because of the long bear market. It is no secret that today all cryptocurrencies that include PoS, PoW and masternodes are experiencing serious problems. Many users do not understand what is happening in the cryptocurrency mining market now, as prices have dropped very much and people have practically abandoned mining. By the way, recently watched a video on twitter about how chinese throw away ASIC miners to the dump.
Bitcoin Network Hash Rate Down 25 Percent from Peak

Of course, the situation is really sad, but do not despair, because recently there was a new coin on the GPU and CPU mining market called SUQA. The developers of this coin were able to launch a new POW mining algorithm called X22i, which revives the profitability of mining for many users. I was immediately interested in this algorithm.
X22i is an unique PoW algorithm developed by the SUQA team. It is worth noting that at the moment X22i is the most energy efficient of all the algorithms on the market, as it works steeper and does not consume a lot of energy. The algorithm has super stability to ASIC miners and quantum computers.By the way, guys, CPU mining is very easy and available from the desktop wallet. GPU mining is available from open source GPU miners just by adding the server and wallet address.The best hashing miner software for 1080ti is Cryptodredge because it's currently fastest miner for x22i. Here download links https://github.com/technobyl/CryptoDredge/releases/tag/v0.11.0
https://preview.redd.it/70hdspr1ck021.png?width=667&format=png&auto=webp&s=93df66bf3bffc1bf1dc4d8862a29820838485cef
What makes SUQA special?
It's no secret that today there are many cryptocurrencies, some of which are pacifiers. Undoubtedly this is a sad statistics. SUQA developers plan to become a leader in the cryptocurrency market by creating a decentralized ecosystem for various charitable organizations and blockchain startups.
Developers reward miners with SUQA tokens for the speedy implementation of their plans. They take a 10% сommission that will be used to fund developers and their various purposes, such as marketing companies, exchanges listing, website development, legal fees and bounties campaigns.
SUQA coin has a high transaction speed - 533 per second. This is 75 times higher than bitcoin! Today, this fact is a serious advantage over the main competitors.I am sure that this is not the limit of possible speed for developers and it will be even more in the future. There are practically no transaction fees in the SUQA ecosystem. It's really great, guys!
It is important to note that SUQA Foundation is only 2 months old, but it already has a large multilingual community in social networks. The project has an open team for all users that unites them from all over the world. SUQA is a global ecosystem that attracts not only experienced miners, but also more newcomers.
Investment potential.
Now the market situation makes us look for new options for investment. There are very few really promising projects on the market that have so many prominent features, one of which is time locked interest. It provides all users with a guaranteed opportunity to earn from their term deposits up to 5% per annum when time locked up to 4 weeks. But there's more! The developers provide an opportunity for early investors to receive an interest rate of 25% during the first 3 months! Looks attractive, doesn't it?I am sure that you should not worry about your deposit, because the developers of SUQA already have serious partnership agreements with a very fast, secure, private and automated deposit escrow service. The SUQA wallet also has a time-lock interest that can be used for all business or private transactions.
In short, the developers of the project have all the prerequisites to become one of the leaders in the mining market, so SUQA is an ideal project for investment. Going forward, I have no doubt that SUQA Team will continue to follow through on roadmap plans as they have done so far.

Mooooon - Sooooon

Conclusion
SUQA is a highly potential coin with a new algorithm that will bring GPU and CPU miners to life again, after of months the market are in a down trend, many miners now are stopped in mining alts (except big miners). I'm sure this coin will bring a real hope in mining industry again.
More info
To learn more about all the latest information about SUQA, you can join the discord channel or telegram channel
Website / ANN thread
____________________
Author - artur2403 / Uniqueness - 100%
submitted by artkld39 to crypto_currency [link] [comments]

SUQA - The Investment potential of the coin and its deposit advantages.

SUQA - The Investment potential of the coin and its deposit advantages.
Hello, guys!
Today I want to continue to talk about a very promising project called SUQA.
SUQA is a unique company founded in 2018 by a small group of people with serious skills in programming, design and blockchain technology. The SUQA project team was able to form the idea, values and life path of the coin. It is important to note that the financing of the project was carried out by the team members themselves, as well as ordinary private investors who noticed huge prospects in this coin. Within a few months, the team managed to improve the bitcoin blockchain on the new SUQA network, eliminating vulnerabilities and upgrading it so that the SUQA blockchain was almost 100% secure and not subject to a hacker attack.
The team has developed an algorithm to reward all owners to attract great interest in the coin. In the first 3 months of running the algorithm, you can get 25% of the amount of invested SUQA coins per month, and after 3 months – 5% per month.
https://preview.redd.it/xzq8gxft0a221.png?width=787&format=png&auto=webp&s=bb28cffa515d54303bc1849b0b2382048d3dffc4

SUQA coins were not generated for the purpose of their subsequent sale to investors on ICO – this is the main uniqueness of the project, but not the only one.

What makes SUQA special?
Possibility of passive income
The project team decided to reward all coin holders with 5% deductions monthly. Look how the system of income works:
Buy / mine SUQA coins on your wallet. Cold wallet is the best way to store coins. You can download it here https://github.com/SUQAORG/SUQA-CORE/releases
I explained in detail how the SUQA coin deposit process works in the picture below.
https://preview.redd.it/qux9vk6m03221.png?width=851&format=png&auto=webp&s=02758c32eecbd089734d410463e01bac0d54f76d
SUQA promises 25% profitability for each month of holding tokens in the cold wallet. At the end of 3 months for each month of storage you will receive 5% of the amount of frozen coins.
High transaction speed
SUQA coin has a high transaction speed - 533 per second. This is 75 times higher than bitcoin! Today, this fact is a serious advantage over the main competitors.I am sure that this is not the limit of possible speed for developers and it will be even more in the future. There are practically no transaction fees in the SUQA ecosystem.

https://preview.redd.it/ngww8tgp03221.jpg?width=694&format=pjpg&auto=webp&s=d0440ce1eca94a6b86c34912ce9289dadeff3f50

X22i algorithm
X22i is an unique PoW algorithm developed by the SUQA team. It is worth noting that at the moment X22i is the most energy efficient of all the algorithms on the market, as it works steeper and does not consume a lot of energy. The algorithm has super stability to ASIC miners and quantum computers.By the way, guys, CPU mining is very easy and available from the desktop wallet. GPU mining is available from open source GPU miners just by adding the server and wallet address.The best hashing miner software for 1080ti is Cryptodredge because it's currently fastest miner for x22i. Here download links https://github.com/technobyl/CryptoDredge/releases/tag/v0.11.0

https://preview.redd.it/xiopeojr03221.png?width=765&format=png&auto=webp&s=7342d6d65b19f5ccae62107c93babbae026065df

Important advantages over competitors

https://preview.redd.it/gbik24yua3221.png?width=889&format=png&auto=webp&s=046752face357861d145f823dca65a872c956815

Conclusion
I have extensive experience in mining various kinds of cryptocurrencies, and I can say with confidence that SUQA is very promising coin. It is important to note that the team is constantly improving its product and trying to be sociable with its users. This is a huge advantage over competitors.
More info
To learn more about all the latest information about SUQA, you can join the discord channel or telegram channel
Website / ANN thread
____________________
Author - artur2403 / Uniqueness - 100%

submitted by artkld39 to CryptoMangust [link] [comments]

What is Dago Mining?

Green energy for bitcoins, ethereum, and other cryptomonetes mining. Dago Mining has one initial cost and zero cost on consumption. The cost of the energy component gives profitability to mining. We create our own green renewable energy power plant and we will not have any future energy cost increase. There is no cost per Kw schedule, only a small annual maintenance price (0.01 $ per Kw), with a 20-year warranty on plant's components.
About Dago Mining When cryptomining was still in its infancy, it was well distributed among a couple of thousand private miners, governed by transparent rules and not harmful to the world environment because the energy requirements were microscopic. During last years, all this has changed: Dutch bitcoin analyst Alex de Vries, who operates a Bitcoin Energy Consumption Index on the website Digiconomist, has produced estimates of growth of energy consumption and they are alarming. If bitcoin miners are using the most efficient machines possible, the lowest amount of electricity they could possibly be using is 39 terawatt hours, de Vries said in an interview. That's about as much as the entire country of Slovenia. De Vries said less conservative estimates make it entirely possible that bitcoin is using as much energy as Ireland, which consumes about twice as much as Slovenia, or about 1 percent of the U.S. total.
The problem is getting worse, said de Vries, who estimated the annual amount of energy consumed by bitcoin rose by a fifth in the final weeks of 2017. Even worse, the concentration of mining power in the hands of a couple of large corporations is distorting the formerly democratic decision- making process in these networks: changes in protocols and hard forks are in danger of being influenced by the economic interests of a few.
DAGO mining has designed a mining system with three technologies all together: a high efficiency photovoltaic system that uses solar concentration panels, combined with an innovative energy storage system in salt water batteries that will bring the farm to be self-sufficient in terms of energy in 12- 18 months from the start. The progressive construction and assembly of the hardware of mining uses high performance GPU (not only Graphics Cards) and ASIC Chip already on the market. Everything is cooled by “Immersion Cooling” in order to exploit the possibility of overclock without losing stability and durability. Using the dynamics of exponential growth for both, we promote climate preservation and the welfare of our token holders. It is the physical incarnation of the blockchain spirit: a robust and decentralized system that can withstand disruptions in government policies, price structuresand the energy supply.
RECOMMENDED EXCHANGE LIST
Binance
Kucoin
Bit-z
Bibox
Coinegg
Huobi
SECURE WALLETS
Ledgerwallet
Trezor
Ellipal
submitted by icoinformation2021 to DagoMining [link] [comments]

How much would I have to spend to profitably mine bitcoin?

Currently (Nov. 28th 2017.) annual net earnings just with one Antminer s9 in Serbia is 8.986 USD.
As an investor or small/middle size miner you should consider: the price of bitcoin, investment for mining equipment and the price of electricity.
Superb mining equipment are ASIC processors specially made for bitcoin and alternative (all other) coins mining.
Currently (Nov. 2017.) for mining the bitcoin the best ASIK processor in the world is Antminer s9. It cost from $1.500 up to $3.500. The price varies depending on the series (each subsequent series has better performance), where it is bought (it's a big difference if you buy it directly from the manufacturer or via eBay or Amazon), shipping costs (can be from $0-200) and power supply unit cost from $105 to $200.
The cheapest electricity in Europe is in Serbia. 0,065 € (≈0,077 USD)
Source: Eurostat._YB16.png) (Eurostat is a statistical office of the European Union located in Luxembourg).
One of the essential heritage of communism that has remained in Serbia is that the price of electricity is a social category. So, in Serbia, unlike the rest of the world (perhaps in the communist countries), it is a cheaper electrical cost for domestic households than for the industry.
I decided to pinpoint exactly how much it would electricity cost if 2 Antminers s9 were mining 24/7 365 days a year. The calculation is based on Serbian Dinars. The final value is in US Dollars.
In Serbia, there are 3 zones of electricity categories depending how much of power do you consume per 30 days accounting period: green (0-350 KWh) blue (351 KWh-1.600 KWh) and red zone (more than 1.600KWh). Each zone has own price range. Each zone has night ( lower) and day ( higher) price. Night prices are calculated from 11pm-6am for each zone. Meaning, 16 hours (66,66%) during a day processor will consume higher priced el.energy and 8 hours ( 33,33%) lower priced el.energy.
One Antminer s9 processor consumes 1.400W = 1,4 KW x 24h = 33,6KW / h consumed in one day.
So two processors consume 67,2 KW / h / day
Green zone is up to 350 KWh. So, 350 KWh: 67,2 KWh / per day = 5,2083 days
5,2083 days x 24h = 124,9992 h.
33,33% of 124,9992 h = 41,6622h (lower price hours) x 1,419din. (lower price of el. in the green zone) = 59,1187 din.
66,66% of 124,9992 h = 83,3244 h (higher price hours) x 5,962din. (higher price of el. in green zone) = 496,7804 din.
The blue zone is from 350 KW to 1.600KW
1.600 KW-350 KW = 1.250 KW (the amount of electricity that can be spent in the blue zone price range)
1250KW: 67,2 KWh / per day = 18,6011 days
18,6011 days x 24h = 446,4264 h.
33,33% of 446,4264 h = 148,7939 h (lower price hours) x 2,236din. (lower price of el.price in blue zone) = 332,7032 din.
66,66% of 446,4264 h = 297,5878 h (higher price hours) x 8,943din.(higher price of el.price in blue zone) = 2.661,3280 din.
Red Zone
It remains 6,2 days in the red zone
The number of days spent in the green zone is 5,2
+
The number of days spent in the blue zone is 18,6
23,8 days spent
Calculation period 30 days -23,8 = 6,2 days in the red zone
6,2 x 24h = 148,8h
33,33% of 148,8h = 49,5950h (lower price hours) x 4,472din. (lower price of el. coast in the red zone) = 221,7890 din.
66,66% of 148,8h = 98,208h (higher priced hours) x 17,887din. (higher price of el.cost in the red zone) = 1.756,6464 din.
…………In total: 5.528,3657 dinars( basic amount for tax calculation)…………….
Tax calculation
Note: Some tax I can't translate literary or it is to long for translation, so I have named them Fixed Tax
-Basic amount: ……………………………………......... 5.528,3657 din.
-Fixed Tax : 11,04 KW x 48,552 din.: …………...+ 536,01 din.
-Fixed Tax: …………………………………………........... + 132,76 din.
-Total: …………………………………………..........….…… 6.197,1357 din.
-5% discount on regularity of payment: .....… - 309,8567 din.
-Total: ……………………………………………….........…. 5.887,279 din.
-Tax for green energy: …………………….....……… + 187,48 din.
-Total: ……………………………………………........……. 6.074,767 din.
-Excise (7,5%): ……………………………….....……… +455,6075 din.
-Total: …………………………………………….........…… 6.530,3745 din.
-VAT (20%): ………………………………….....……… +1.306,0749 din.
-Total: …………………………………………….........…… 7.836,4494 din.
-Nacional Television Tax: ………….......…………….. 150,00 din.
……… Grand total: 7.986,4494 din. ≈79,45 $ …………………………….
The exact price KWh for a given period is only 3,9615 din. ≈ 0,039 $
Official National Bank of Serbia exchange rate for Nov. 28th, 2017.
7.986,4494 din : 2.016KWh (total el. power consumption for 30 days) = 3,9615 din. ≈$0,039 per kilowatt/hour. In this way, it is actually cheaper than the average price in China, India or UAE. I'll never complain again about el.price in my country. Worldwide electricity price by region, source: statista.com
The profitability of mining bitcoin ( and other altcoins) is calculated with the power consumption calculator. Simply, chose the coin ( in this case bitcoin) enter the hash power of processor ( in this case 14 TH) and el. coast ( in this case 0,039 USD). When you put all this data, you are making just with 1 Antminer s9 $8,986 in Serbia. Power consumption calculator. Source: cryptocompare.com
Now we can do a little investment brainstorming.
Let's say you rent 10 apartments and in each, you will put two S9s. Rent in Serbia (not in Belgrade) for a flat on less attractive location, is $ 110 (can be even less), x 10 apartments that will cost you $1.100 a month.
The Internet per month is $12 x 10 flats = $120
Electricity per month is $79,45 x 10 flats = $794,5
Since this is a serious investment and business, you need 3 people (8 hours shift) for monitoring the processors pay the bills preventing possible stilling, just to make sure everything goes smoothly. The salary per person is $300, so monthly is $900. For these three persons, you can rent an apartment from where they will monitor the processors, which is an additional $ 200 per month (maybe even less).
Monthly expenses are 3.114,5 $
2 Antminers s9 are making (with current bitcoin mining difficulty, block size and price rate) $1.477,3 x 10 flats = $14.773 per month
Month Net Profit: $11.658,5 x 12 months = $139.902 Annual Net Profit
The variable cost is purchasing price of Antminer s9. From $ 1.500 to $ 3.500 (customs, delivery charges, where do you bay). We need 20 Antminers x $3.500 = $70.000
In a year (at the current bitcoin price) the gross profit is $139.902 - $70.000 ( purchasing price for 20 Antminer s9) = Net profit: $ 69.902 in the first year.
The costs could be further reduced:
~~ If you pay in advance ( 6 months or 1 year ) rant
~~ The price of an Antminer s9 is cheaper in a larger quantity order,
~~ I am not sure but, I spouse you can have better price from internet provider for large internet packet
Why two Antminers s9? Under the law, EPS ( Serbian state electrical company) is required to provide up to 30.000KWh annually to each household. The two Antminers S9 spend 24.192KWh yearly.
…..and there is more to talk about this subject.
So, if you have someone in Serbia I wish you all the best. Call me for dinner ( at least you owe me that :)) .
Or, if you are interested in this and you don’t have contacts in Serbia, you can contact me about this project. [email protected]
Stay happy,
Lazar
submitted by _TETRISMANIA to BitcoinMining [link] [comments]

Monero Deep Dive: The Cryptocurrency To Use If You Want True Anonymity, Far More Anonymous Than Bitcoin

http://www.cypherpunklabs.com/monero-deep-dive-the-cryptocurrency-to-use-if-you-want-true-anonymity-far-more-anonymous-than-bitcoin/
In the early days of cryptocurrency Bitcoin was considered the best payment method for those who wished to stay anonymous. At the time this was true, since Bitcoin required no personal identification information while fiat payment methods like banks and PayPal required a full suite of personal identification information. However, all Bitcoin transactions in history are stored on a publicly accessible block explorer, and with the rise of blockchain forensics it is now possible to figure out who owns a Bitcoin address and what they have been doing with their Bitcoin. Although it is possible to increase Bitcoin’s anonymity by using Tor, VPNs, and CoinJoin, as will be discussed in future Cypherpunk Labs articles, Bitcoin can only be considered pseudo-anonymous rather than fully anonymous.
Nicolas van Saberhagen recognized that Bitcoin lacked full anonymity, in addition to the fact that it is a slow and difficult process to change Bitcoin’s code. Saberhagen proposed to create a new cryptocurrency that was far more anonymous, in addition to correcting some other apparent deficiencies in Bitcoin, and wrote up these ideas in the CryptoNote White Paper.
The first cryptocurrency to utilize the ideas in the CryptoNote White Paper was Bytecoin (BCN), which is a lesser known but still functional stealth cryptocurrency. Bitcointalk user thankful_for_today modified the code from Bytecoin and created BitMonero), but there was community criticism since not everything in the CryptoNote White Paper was adopted. This caused thankful_for_today to apparently abandon the project, but a group of users led by Johny Mnemonic quickly took over and renamed the cryptocurrency Monero (XMR).
One of the most critical pieces of stealth technology that Monero uses is ring signatures. With Bitcoin a transaction is signed with a user’s private key and can be verified with the public key. With a ring signature a transaction is signed by your key as well as the public keys from several other outputs on the blockchain using a triangular distribution method. Essentially, each Monero transaction is signed by a group of keys, and it is not possible to distinguish which key the transaction originated from. This can be thought of as decentralized and trustless mixing, and ultimately ring signatures hide the destination and origin of a transaction.
Eventually Monero upped the ante and implemented ring signature confidential transactions (RingCT), which uses multi-layered linkable spontaneous anonymous group signatures to hide the amount of a transaction. However, RingCT transactions required a large amount of data in order to ensure that the sum of inputs and outputs equaled zero, and bulletproofs were implemented to solve this problem. More about bulletproofs can be read in this paper. Essentially, bulletproofs helped reduce transaction size, lowering transaction fees on the Monero network, and also made it cheaper to create transactions with higher degrees of complexity.
Another critical piece of technology that makes Monero anonymous is stealth addresses. The sender creates a random one-time address for every transaction on behalf of the recipient. This allows a recipient to have just one published address but all of their incoming transactions go to different addresses on the blockchain. Thanks to stealth addresses, only the sender and receiver can determine where a payment was sent, while an outside observer cannot figure that out.
A Monero user can see incoming transactions with their view key, and anyone without the view key cannot see the incoming transactions to any particular address. This view key can be shared, so Monero can be considered optionally transparent, but the default is stealth.
When a Monero user decides to spend their coins, the Monero in a stealth address is broken down into its components and combined with other equivalent components via ring signatures. For example, if 42.42 Monero is sent, then the coins are split into 40 + 2 + 0.4 + 0.02 and combined with other 40’s, 2’s, 0.4’s, and 0.02’s somewhere else in the blockchain. This renders outputs fundamentally indistinguishable, and Unlike Bitcoin’s CoinJoin, no participation from anyone else is needed since already present outputs are being mixed.
Further, Monero tried to increase decentralization of its network by being incompatible with application specific integrated circuits (ASICs) via the CryptoNight protocol. This was originally accomplished by requiring a MB of internal memory, which was unacceptable to ASICs at the time. Also, Monero fit into the L3 cache of modern CPUs, while simultaneously being slower on GPUs, hindering the efficiency of GPU mining firms. That being said, it seems if a cryptocurrency is valuable enough then an ASIC is eventually created for it, and the Monero developers have been in a long term battle where they have to periodically change their mining protocol in order to prevent ASICs from overtaking the network. Monero is expected to release their new mining algorithm, RandomX, in October in order to stomp out the ASICs once again.
It seems the Monero developers are succeeding in their fight against ASIC centralization, and generally Monero is the most profitable cryptocurrency to mine on a personal computer while it is not that profitable with ASICs. This is important because it allows regular joes to mine Monero on their personal computer, decentralizing the network hash rate, as opposed to Bitcoin which is practically impossible to mine on a personal computer and most of the hash rate is in the hands of big mining farms.
Also, Monero uses dynamic block sizes, ensuring low transaction fees and fast confirmation times, as opposed to Bitcoin which often has a clogged mempool which can lead to long waits for confirmations and high transaction fees.
Additionally, Monero technically has an infinite supply since the minimum block reward is 0.6 XMR, and this will be reached in 2040. This ensures that miners will always have an incentive to secure the network long term, even if transaction fees are kept as low as possible. Compare this to Bitcoin where block rewards will approach zero, which may wreck the mining community if transaction fees are not high enough.
Thus, Monero’s ring signatures, RingCT, bulletproofs, and stealth addresses combine to obfuscate the sender, receiver, and amount of the transaction, and transactions are split into chunks that are indistinguishable from other transactions. This provides far more privacy than Bitcoin, since Bitcoin transactions are easily traced on a block explorer. It is clear that Monero is an excellent choice for those that want true anonymity when using cryptocurrency. That being said, it is important to use encrypted messaging as well when organizing a Monero transaction, since anonymity can be compromised if a message regarding a Monero transaction is intercepted.
submitted by turtlecane to Monero [link] [comments]

Just checked the price of Doge. What a relief.

Just checked the price of Doge. What a relief. submitted by normanthedog to dogecoin [link] [comments]

New people please read this. [upvote for visibility please]

I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can.
Preface
Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here.
If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier.
Mining. What is it?
Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section.
Mining Hardware
While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much.
Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it.
So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy.
Should I mine?
Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats
PCPartPicker part list / Price breakdown by merchant / Benchmarks
Type Item Price
CPU AMD Sempron 145 2.8GHz Single-Core Processor $36.01 @ Amazon
Motherboard ASRock 970 EXTREME4 ATX AM3+ Motherboard $99.48 @ OutletPC
Memory Crucial Ballistix Tactical Tracer 4GB (1 x 4GB) DDR3-1866 Memory $59.99 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Power Supply SeaSonic Platinum 860W 80+ Platinum Certified Fully-Modular ATX Power Supply $146.98 @ SuperBiiz
Total
Prices include shipping, taxes, and discounts when available. $1078.60
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s
Hardware Fundamentals
CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with.
RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory.
HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats)
GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like.
PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption.
MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less.
PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied.
When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info.
Mining Software
Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head)
Mining Pools
Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself.
How do I connect to a pool?
Most pools will give you a tutorial on how to but the basics are as follows:
  • Signup for a pool
  • Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
  • Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As>runcgminer.run (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
  • Double click on runcgminer.run (or whatever you named it) and have fun mining.
Mining Profitability
This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine:
Hardware cost: The cost of your physical hardware to run this whole operation.
Power: Measured in $/KwH is also known as the operating cost.
Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon.
Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously.
Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones.
coinwarz
I like this one cause it is simple. The fields are self explanatory. Try it.
bitcoinwisdom
I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account.
Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it!
More Below.
submitted by craeyon to litecoin [link] [comments]

What is ProgPoW? Why Ethereum needs it moving forward.

Update: ASIC Manufacture say they can make a ProgPoW ASIC

Disclosure, I'm a avid GPU miner with some 90 Nvidia GPUs running out of my garage. I've been in and out of the mining scene since 2011,2014, and recently 2017. I Hold BTC, ETH, RVN. I directly benefit from them moving to ProgPOW, but not without a good reason. Everytime I've gotten into home GPU mining ASICs comes out BTC, LTC, I've had to give up every time. I refuse to see it happen to another excellent coin.

I've been a proponent of Ethereum following there ASIC resistance stance outlined in the original white-paper. Now that ProgPOW has been given the "Green-light" by Hudson Jameson to move forward with ProgPOW. I really think its time to discuss the Algorithm. What it is, who created it, why Ethereum needs it and dismiss crazy theories such as Nvidia funding development.

Before we start highly suggest everyone watch BitsBeTrippin's video where she breaks down ProgPOW at devcon4.

A Quick breakdown of What is ProgPOW?
ProgPoW is a proof-of-work algorithm designed to close the efficency gap available to specialized ASICs. It utilizes almost all parts of commodity hardware (GPUs), and comes pre-tuned for the most common hardware utilized in the Ethereum network.

From reading the white paper listed on Github the main idea behind ProgPOW is NOT to achieve total ASIC-resistance. The idea is to kill the 50-1000x Efficiency gains from specialized ASIC hardware. Such as what we saw recently with Equihash 200/9 coins where 50x was achieved over GPUs. ProgPOW algorithm uses most of the GPU minus a few parts. It takes the original Eth-Hash algorithm and add more features.
The main elements of the algorithm are:
ProgPOW will Inherit Eth-Hash current DAG size meaning 2GB and 3GB will not be able to mine still. Additionally no advantage is given to Either Nvidia or AMD GPUs
ProgPoW has been designed to be a vendor-neutral proof-of-work, or more specifically, proof-of-GPU. ProgPoW has intentionally avoided using features that only one core architecture has, such as LOP3 on NVIDIA, or indexed register files on AMD.

According to Kristy, she has had direct contact with AMD and Nvidia on testing ProgPOW.
As part of its review process, ProgPoW was submitted to (and reviewed by) both AMD and NVIDIA engineers. The group known as IfDefElse — of which I am a part of — has been actively working with both companies to ensure this effectively closes the efficiency gap that we speak publicly of in our papers and articles
This does not mean one side is favored over the other. She's giving and getting input from the major GPU manufactures in order to support Crypto-mining. Additionally she says "AMD is actively working with us to optimize ProgPoW for their architectures.". Using ProgPOW optimized for GPUs rids us of bowing to Bitmain, innosilicon, halong and there scandalous ways for hardware.

ProgPOW IS NOT the "God-sent savior of all GPUS" Even Kristy understand that complete ASIC-resistance is a fallacy. This will never be achieved. However By working with GPU manufactures and Crypto Dev's we can make a coin where GPUs run along-side with ASICs, but the efficiency gains are diluted. Meaning the time and money invested into an ProgPOW ASIC machine does not make economical sense. Rather just buy the actual GPU.

Quote sources from Kristy's Medium article.

Why does Ethereum need ProgPOW?

I suggest reading Siacoin's good medium article on the subject of ASICs.
It's too much to cover here but in short why we need ProgPOW against current ASICs and future ASICs
At his point in time we actually don't need ProgPOW. However we do need it as time goes on. Early Bitcoin ASICs didn't dominate BTC however as time went on, they became better more efficient than GPUs, and started dominating BTC's network. The same fate happens to any "ASIC-Resistant coin" that decides it's not a big deal (looking at you ZEN). Without a set date on POS Ethereum would have suffered the same fate. As Siacoin Dev states;
We also had loose designs for ethash (Ethereum’s algorithm). Admittedly, ethash was not as easily amenable to ASICs as equihash, but as we’ve seen from products on the market today, you can still do well enough to obsolete GPUs.
What makes ASICs bad? Isn't it better to get Hash/watt ratio? This saves tons of electric. One of PoW biggest faults. I think there is nothing bad about the ASICs hardware. Equihash ASICs achieved 20 1080ti level hashrate at 1/20 of the power. That's impressive. The problem with ASIC hardware is who, where it comes from, and there shady business practices.

  1. "It’s estimated that Monero’s secret ASICs made up more than 50% of the hashrate for almost a full year before discovery, and during that time, nobody noticed." How much of ETH hashrate could be ASICs? We won't know till the fork.
  2. I've heard a lot that ASICs aren't all that big of a deal. Focus on POS. Take in account Siacoins own network hashrate which allowed bitmain/innosilicon ASICs on the network till they forked in favor of their own ASICs after just a year (Siacoins drops 96% network hashrate).
  3. "In the case of Halong’s Decred miner, we saw them “sell out” of an unknown batch size of $10,000 miners. After that, it was observed that more than 50% of the mining rewards were collecting into a single address that was known to be associated with Halong, meaning that they did keep the majority of the hashrate and profits to themselves." GPU manufactures would not and cannot be do the same.
ASICs destroy networks, centralize the pools, and hardware. Leading to them to be controlled by large entity in this case its Chinese companies. Anyone who thinks otherwise is fool. Of course this doesn't happen overnight, hence my original statement that we don't need ProgPoW now. In a years time that may totally change and it will be far to late.

GPUs allow anyone to support the network. Think of the crypto run-up. Fry's Electronics, Microceneter, online E-tailers were SOLD OUT OF GPUs. Think of that! People were buying GPUs to support the network for token rewards(worth money) How many new miners, people, got interested in crypto because of this? How about friends who saw the rigs and word of mouth spread that you could go out buy a graphics card, built a rig, and earn money? obviously we know the effects because it wasn't sustainable in the remotest. However it's an attest that GPU mineable coins makes it accessible to everyone.

For Ethereum to successfully go POS it cannot hand it network over to ASIC mining companies in the meantime. POS is on an unknown release date/timeframe. I understand Vitalk does not like PoW however that's what currently securing the network. Because of this Ethereum must maintain as much decentralization as possible with GPU mining. This is what ProgPOW does. It gives AMD and Nvidia GPUs the advantage they need over ASICs created by Bitmain or others. It allows me to continue to secure the Ethereum network with my 90 GPUs until full POS switch.

Conclusion
Did it have to be ProgPOW? No, as UBIQ has shown they created there own unique ASIC-resistant algorithm. ProgPOW was given to us by the Ifdefelse team completed. This required no work from the ETH devs at all. It's open source and has been reviewed by the Etheruem Dev team. If they haven't found any issues with it yet, I don't see why we cannot implement it.

An argument can be made that if we do switch we risk security, because we'll lose network hashrate and decrease the cost to attack the network. I have two things to say to that. One since ProgPOW is new, Nicehash has not added it to it's network to rent yet. I wouldn't know how long nicehash would take to it add it, but it gives us a short while to get people on new ETH POW network. Additionally to attack the network, they would need massive coordination from GPU mining farms. Such a thing has never been recorded.

The 51% attacks that have happened recently (BCD/BTG/ZEN) and as of 1/8/18, ETC. These were all ASIC mineable coins. In the case of equihash coins, an ASIC that achieved 50x more efficiency had just came to market. It's not proven, but it leads me to believe a bad actor with early access to ASICs was able to attack those coins. All except ZEN have switched to Zhash algorithm. Even ZCASH/Zelcash has funded ProgPOW development. While I disagree they should do this, because that's entirely the problem too many coins using too many of the same algorithm, in the end it's up to the devs.

TL:DR; ASIC-Resistance is futile and a fallacy. PoS or other solutions are needed but to get there we need to keep PoW as Decentralized as possible this is what ProgPOW does.


submitted by Xazax310 to EtherMining [link] [comments]

What is ProgPoW? Why Ethereum needs it moving forward.

Update: ASIC Manufacture say they can make a ProgPoW ASIC

Disclosure, I'm a avid GPU miner with some 90 Nvidia GPUs running out of my garage. I've been in and out of the mining scene since 2011,2014, and recently 2017. I Hold BTC, ETH, RVN. I directly benefit from them moving to ProgPOW, but not without a good reason. Every-time I've gotten into home GPU mining ASICs comes out BTC, LTC, I've had to give up every time. I refuse to see it happen to another excellent coin.

I've been a proponent of Ethereum following there ASIC resistance stance outlined in the original white-paper. Now that ProgPOW has been given the "Green-light" by Hudson Jameson to move forward with ProgPOW. I really think its time to discuss the Algorithm. What it is, who created it, why Ethereum needs it and dismiss crazy theories such as Nvidia funding development.

Before we start highly suggest everyone watch BitsBeTrippin's video where she breaks down ProgPOW at devcon4.

A Quick breakdown of What is ProgPOW?
ProgPoW is a proof-of-work algorithm designed to close the efficency gap available to specialized ASICs. It utilizes almost all parts of commodity hardware (GPUs), and comes pre-tuned for the most common hardware utilized in the Ethereum network.

From reading the white paper listed on Github the main idea behind ProgPOW is NOT to achieve total ASIC-resistance. The idea is to kill the 50-1000x Efficiency gains from specialized ASIC hardware. Such as what we saw recently with Equihash 200/9 coins where 50x was achieved over GPUs. ProgPOW algorithm uses most of the GPU minus a few parts. It takes the original Eth-Hash algorithm and add more features.
The main elements of the algorithm are:
ProgPOW will Inherit Eth-Hash current DAG size meaning 2GB and 3GB will not be able to mine still. Additionally no advantage is given to Either Nvidia or AMD GPUs
ProgPoW has been designed to be a vendor-neutral proof-of-work, or more specifically, proof-of-GPU. ProgPoW has intentionally avoided using features that only one core architecture has, such as LOP3 on NVIDIA, or indexed register files on AMD.

According to Kristy, she has had direct contact with AMD and Nvidia on testing ProgPOW.
As part of its review process, ProgPoW was submitted to (and reviewed by) both AMD and NVIDIA engineers. The group known as IfDefElse — of which I am a part of — has been actively working with both companies to ensure this effectively closes the efficiency gap that we speak publicly of in our papers and articles
This does not mean one side is favored over the other. She's giving and getting input from the major GPU manufactures in order to support Crypto-mining. Additionally she says "AMD is actively working with us to optimize ProgPoW for their architectures.". Using ProgPOW optimized for GPUs rids us of bowing to Bitmain, innosilicon, halong and there scandalous ways for hardware.

ProgPOW IS NOT the "God-sent savior of all GPUS" Even Kristy understand that complete ASIC-resistance is a fallacy. This will never be achieved. However By working with GPU manufactures and Crypto Dev's we can make a coin where GPUs run along-side with ASICs, but the efficiency gains are diluted. Meaning the time and money invested into an ProgPOW ASIC machine does not make economical sense. Rather just buy the actual GPU.

Quote sources from Kristy's Medium article.

Why does Ethereum need ProgPOW?

I suggest reading Siacoin's good medium article on the subject of ASICs.
It's too much to cover here but in short why we need ProgPOW against current ASICs
At his point in time we actually don't need ProgPOW. However we do need it as time goes on. Early Bitcoin ASICs didn't dominate BTC however as time went on, they became better more efficient than GPUs, and started dominating BTC's network. The same fate happens to any "ASIC-Resistant coin" that decides it's not a big deal (looking at you ZEN). Without a set date on POS Ethereum would have suffered the same fate. As Siacoin Dev states;
We also had loose designs for ethash (Ethereum’s algorithm). Admittedly, ethash was not as easily amenable to ASICs as equihash, but as we’ve seen from products on the market today, you can still do well enough to obsolete GPUs.
What makes ASICs bad? Isn't it better to get Hash/watt ratio? This saves tons of electric. One of PoW biggest faults. I think there is nothing bad about the ASICs hardware. Equihash ASICs achieved 20 1080ti level hashrate at 1/20 of the power. That's impressive. The problem with ASIC hardware is who, where it comes from, and there shady business practices.

  1. "It’s estimated that Monero’s secret ASICs made up more than 50% of the hashrate for almost a full year before discovery, and during that time, nobody noticed." How much of ETH hashrate could be ASICs? We won't know till the fork.
  2. I've heard a lot that ASICs aren't all that big of a deal. Focus on POS. Take in account Siacoins own network hashrate which allowed bitmain/innosilicon ASICs on the network till they forked in favor of their own ASICs after just a year (Siacoins drops 96% network hashrate).
  3. "In the case of Halong’s Decred miner, we saw them “sell out” of an unknown batch size of $10,000 miners. After that, it was observed that more than 50% of the mining rewards were collecting into a single address that was known to be associated with Halong, meaning that they did keep the majority of the hashrate and profits to themselves." GPU manufactures would not and cannot be do the same.
ASICs destroy networks, centralize the pools, and hardware. Leading to them to be controlled by large entity in this case its Chinese companies. Anyone who thinks otherwise is fool. Of course this doesn't happen overnight, hence my original statement that we don't need ProgPoW now. In a years time that may totally change and it will be far to late.

GPUs allow anyone to support the network. Think of the crypto run-up. Fry's Electronics, Microceneter, online E-tailers were SOLD OUT OF GPUs. Think of that! People were buying GPUs to support the network for token rewards(worth money) How many new miners, people, got interested in crypto because of this? How about friends who saw the rigs and word of mouth spread that you could go out buy a graphics card, built a rig, and earn money? obviously we know the effects because it wasn't sustainable in the remotest. However it's an attest that GPU mineable coins makes it accessible to everyone.

For Ethereum to successfully go POS it cannot hand it network over to ASIC mining companies in the meantime. POS is on an unknown release date/timeframe. I understand Vitalk does not like PoW however that's what currently securing the network. Because of this Ethereum must maintain as much decentralization as possible with GPU mining. This is what ProgPOW does. It gives AMD and Nvidia GPUs the advantage they need over ASICs created by Bitmain or others. It allows me to continue to secure the Ethereum network with my 90 GPUs until full POS switch.

Conclusion
Did it have to be ProgPOW? No, as UBIQ has shown they created there own unique ASIC-resistant algorithm. ProgPOW was given to us by the Ifdefelse team completed. This required no work from the ETH devs at all. It's open source and has been reviewed by the Etheruem Dev team. If they haven't found any issues with it yet, I don't see why we cannot implement it.

An argument can be made that if we do switch we risk security, because we'll lose network hashrate and decrease the cost to attack the network. I have two things to say to that. One, since ProgPOW is new, Nicehash has not added it to it's network to rent yet. I wouldn't know how long nicehash would take to it add it, but it gives us a short while to get people on new ETH POW network. Additionally to attack the network, they would need massive coordination from GPU mining farms. Such a thing has never been recorded.

The 51% attacks that have happened recently (BCD/BTG/ZEN) and as of 1/8/18, ETC. These were all ASIC mineable coins. In the case of equihash coins, an ASIC that achieved 50x more efficiency had just came to market. It's not proven, but it leads me to believe a bad actor with early access to ASICs was able to attack those coins. All except ZEN have switched to Zhash algorithm. Even ZCASH/Zelcash has funded ProgPOW development. While I disagree they should do this, because that's entirely the problem too many coins using too many of the same algorithm, in the end it's up to the devs.

TL:DR; ASIC-Resistance is futile and a fallacy. PoS or other solutions are needed but to get there we need to keep PoW as Decentralized as possible this is what ProgPOW does.


Update 10/10/19 See medium article on ProgPoW FAQs.
submitted by Xazax310 to gpumining [link] [comments]

Most Profitable Cloud Mining Website By Uniexcompany bitcoin mining site 2020  Bitcoin earning site  how to earn bitcoin fast and easy 2020 BEST Bitcoin Mining Software - Earn 0.5 Btc - - FREE VERSION! Newly Bitcoin Mining Software - Earn 0.5 Btc - NO FEE - FULL VERSION! The Latest Bitcoin BTC Miner! Bitmain Antminer T19 84 Th/s Review

In 2020, one modern Bitcoin mining machine (commonly known as an ASIC), like the Whatsminer M20S, generates around $8 in Bitcoin revenue every day. If you compare this to the revenue of mining a different crypto currency, like Ethereum,- which is mined with graphics cards, you can see that the revenue from Bitcoin mining is twice that of mining The University of Cambridge recently launched an index for tracking the electricity consumption from Bitcoin mining. The data provides interesting insights into the profitability and environmental impact of cryptocurrency mining. It depends on what graphics card you have, what cpu you have, and your electric cost. You would most likely use NiceHash because that’s the easiest mining software to use to mine alt-coins since bitcoin can’t be mined in home PCs anymore. But you can get payed out in btc from it if you want. Mining profit is the level of reward that a user of the blockchain network receives for mining. In the Internet there are many calculators to count the Bitcoin mining profitability and compare the profit of coin mining. There’s a prevailing notion that miners aren’t fans of Bitcoin’s volatility because it makes their revenue streams unpredictable. Two researchers from The Hebrew University of Jerusalem, Aviv Yaish and Aviv Zohar suggest quite the opposite, however. Implications of Bitcoin Mining According to the duo’s research, volatility actually makes mining more attractive.

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