BITCOIN MINING LuxmineBIZ Free 1500 GH ⁄S For Signup ...
BITCOIN MINING LuxmineBIZ Free 1500 GH ⁄S For Signup ...
TagaBit Invest today & save tomorrow
Bitcoin Price Will Likely Fall to $1,500: Bloomberg Analyst
1,500 GH/s bitcoin mining rig TBN
Bitcoin Myne Home Page
AMD RX 5600 XT Mining Performance
**Disclaimer** [Still testing, and Tuning but the new AMD RDNA Architecture is new and not only is AMD still optimizing drivers, the mining Developers who DO NOT get GPU's sent to them, are still working on optimizations. Please be patient with me as I continue to test and allow sufficient time for new miners to be developed.] Same as before, I am sharing my performance numbers with the Crypto Mining community, so we can collaborate together. The RX 5000 series GPUs, unfortunately, don't have the ability to mine every Algorithm available. Mining Devs are still working on it still, but you find what I tested so far below. I did test the SoftPowerPlayTables, MorePowerTool and force flashing a different Vbios on the GPU but to no avail. The card either won't boot or if it does it looks the core clock to 300 Mhz. These GPU's were meant to compete against the GTX 1660 TI and 1660 Super, but due to price war with Nvidia, AMD released a VBIOS to allow the RX 5600 XT compete with the RTX 2060 (KO). I will test any updates, and when I get time, I will update my findings below. I did a live stream recently, which you can find below, but it was lengthy. I speak on the recent AMD launch of this GPU, what I tried, the mining performance, power draw, and whether you should consider this GPU for cryptocurrency mining. So if you got time, please feel free to check it out, otherwise, when I get time from my busy life, I will try to get a summary video together for you guys. Carter from BitsBeTrippin should be doing his own independent testing in the future, and I always recommend checking more than one review for your research. Take care! Sapphire Pulse RX 5600 XT | AMD Adrenalin 2020 Edition 20.1.3
Uniex.biz is an HYIP project which provides long term deposit plans. It has been online since 25th Jul 2019, and admin changed website template and investment plans three days ago. So what you see now is a completely new version. When this new version was online three days ago, admin began to promote it with more money on hyip monitors and blogs. Now let's see the details of it. Started: 2019-07-25 Investment Plans You have a chance to earn 3%-7% daily for lifetime, and principal is included. The minimum amount to buy power is 300 GH/s for SHA-256 algorithm, 20 MH/s for Scrypt algorithm and 3 MH/s for Ethash algorithm. Of course, the more power you buy, the more daily profit you will receive. The minimum amount that you can transfer to your balance is set to be 0.001 BTC, 0.015 BCH, 0.03 ETH, 0.5 ETC, 0.1 LTC, 1500 Doge or 5 USD. Please keep in mind that if you send an amount that is less than the specified value, the transfer will not be credited to the balance. So be sure to reach the minimum amount. When replenish work is done, you can choose to "BUY THE POWER". Referral Commissions(7%-1%) Each mining power purchased by your direct partner (level 1 referral) will bring you 7% of its purchase amount. In addition, your tier 2 partners bring another 1% of each purchase. All rewards will be credited to the balance in the currency that was used for the purchase. If you join under my link, then welcome to submit RCB request at the top of my website, I will give 7% of your deposits back to your wallet as soon as I receive the money. Payment Options Uniex.biz accepts Bitcoin, BitcoinCash, Ethereum, Eth Classic, Litecoin, Dogecoin, PerfectMoney and Payeer. You can use all of them to replenish account balance. In order to withdraw profits in USD, Uniex.biz implemented the function of exchanging the obtained cryptocurrency for USD. Enter the "Balance" section in your personal account and select the “Exchange” tab to exchange obtained currency for USD. Please note that the amount you can exchange must be equivalent to 0.10 USD or more. Exchange commission is 8%. Withdrawal Type Uniex has set a minimum withdrawal amount to be 0.001 BTC, 0.015 BCH, 0.03 ETH, 0.5 ETC, 0.1 LTC, 2000 Doge or 2.5 USD. Each user who invested in Uniex can order a withdrawal of profits as soon as the minimum amount reaches on his balance; The time for consideration of requests is up to 48 hours. More Information Uniex.biz now supports 12 languages, so you can choose the one which is suitable for you. For more news about it, you can follow their social media at the bottom of website, including Telegram, Twitter and Youtube. Register:https://uniex.biz/?ref=YpvAG7 Read More: https://www.hyiper.net/blog/154.html
**Disclaimer** [Still testing, and Tuning but the new AMD RDNA Architecture is new and not only is AMD still optimizing drivers, the mining Developers who DO NOT get GPU's sent to them, are still working on optimizations. Please be patient with me as I continue to test and allow sufficient time for new miners to be developed.] Same stuff different day just as with the RX 590 Fatboy and RTX 2080, I will be testing the RX 5700 over time as new miners come out, to compare price to performance for mining. Below are some of my results when testing the new AMD RX 5700 (Non XT) graphics card mining performance, now I was only able to get a few working. I did some videos on its Gaming performance and the "SoftPowerPlayTables" mod from Igor's Lab at Tom's Hardware, which allowed the RX 5700 to really stretch its legs. Allowing this Non-XT model to surpass the RTX 2060 Super and even get on par with the first Gen RTX 2070. Moving forward, as new miners are release I will update my numbers and test when I can. ***UPDATE: 7/31/19 - New Phoenix Miner 4.5c still only getting 2 - 4 Mhs, XMR Stak 2.10.7, only Algo that will run is RYO ***UPDATE: 9/15/19 - Updated Power Draw numbers, as my Watt Meter died, new one in and retested Algos below ***UPDATE: 12/14/19 - Updated and added Algos as miner support was implemented. Retesting with Radeon Adrenalin 2020 driver ***UPDATE: 1/22/19 - Updated additional miners as support was implemented. Retesting with Radeon Adrenalin 2020 driver (20.1.3) RX 5700 GPU Driver Currently in Use: Mining Performance AMD DRIVER - Adrenalin Edition 19.9.1 OverdriveNTool 0.2.8 Average temps during mining Stock Setup: 65c - 72c Aggressive Fan Curve: 40% - 75% Algo (Mining Program) / OC settings (volt mV) / Power draw Claymore Miner (Updates will Follow) [ UPDATED 9/15/2019 got new Kill-A-Watt Meter ]
ETH (Claymore Miner V 15) STOCK***
1750 Core (1037 mV) / Mem 1750 (850mV)
ETH (Claymore Miner V 15) SPPT Mod***
1900 Core (1037mV) / Mem 1800 (850mV)
ETH (Claymore Miner V 15) SPPT Mod***
1750 Core (990mV) / Mem 1850(850mV)
ETH (Claymore Miner V 15) SPPT Mod***
1750 Core (990mV) / Mem 1860 (850mV)
ETH (Claymore Miner V 15) SPPT Mod*** [Best Config]
1325Core (900mV) / Mem 1860 (850mV)
Claymore Miner (Updates will Follow) [ UPDATED 9/15/2019 got new Kill-A-Watt Meter ]
ETH (Phoenix Miner) STOCK***
1750 Core (1037 mV) / Mem 1750 (850mV)
ETH (Phoenix Miner) [Best Config]
1250 Core (750 mV) / Mem 1850 (850 mV)
ProgPow | BCI - Bitcoin Interest (ethminer not working on Navi ATM)
First-time poster here, don’t bully me, apologies for the potentially atrocious formatting :) TL;DR at the end So in the wake of Bitcoin’s explosive rise in value and media attention, I’ve been encouraged by others to share my experience over the past few years as a miner. Here's my story (it's kinda long, you've been warned)
It all started almost three years ago in the beginning of 2015 when Bitcoin flew under my radar. Looking into it, I admittedly wasn’t drawn in because of the decentralisation or the anonymous payments, I was hooked on the idea that anyone could get their hands on some just by running a program and leaving it to do its own thing. I know, how shallow of me. But the idea of making even a bit of money without ‘any work’ was convincing enough for 11-year-old me to do more digging into the matter. To my disappointment, I soon found out that the era of mining Bitcoins with a PC’s CPU or GPU was long obsolete and instead it was all ASICs at that point. So that summer, for my twelfth birthday, I got a little ASIC machine for €60, an Antminer U3. This little thing took up less space than a graphics card but could mine at 60 GH/s. Because, at the time, I didn’t have a controller device that could be kept up and running all day long so it could run the program that mined Bitcoin using the U3, I went ahead and got a Raspberry Pi. After setting up the Pi and installing all the necessary stuff (took an awfully long time), I connected it to AntPool and plugged the U3 in. Two days past and the mining pool sent the first Bitcoin I ever received to my wallet (I was using Blockchain.info). It was just 30 cents worth of BTC but I felt a bit of a rush because I was earning a bit of money through this completely new thing and the idea of that was thrilling. Let’s back up for a second. I just used the term ‘earning’ as if I was profiting, and naive me 2 years ago was no different. In reality, I was at first oblivious to the fact that I was most likely LOSING money overall because of how much energy that little sucker was taking in. But, I was comforted thinking that using that machine was just a practical way of learning about this modern currency and that the loss of several cents’ worth of energy was acceptable in the name of education and learning. Fast forward ten months to the wonderful summer of 2016. I had recently turned 13 and the Antminer U3 had been running on and off throughout. Various pauses and breaks in mining would be observed, as I had to manually get everything up and running after frequent breaks in the Internet connection. You’d expect my newly-turned-teenage brain to lose interest in Bitcoin as it does with many other gimmicks, but – even surprising myself – I miraculously didn’t. Good thing I maintained interest thinking about it now, not so good at the time for my parents. Why do I say this? I felt like it was time to get a little upgrade in my hardware.
Getting an upgrade
Days passed with me comparing every ASIC miner I could at that price point. It was then I set my eyes upon the Antminer S7 (same folks who did my U3, nice). I had put it up against a plethora of other miners and I figured the S7 was my best bet; the thing costs only about 10 times that of my U3 but could run at 4.73 TH/s, almost 80 times as powerful. The only problem being its power consumption was at 1300 watts, which would put a massive dent in the electricity bill and eliminate any profit I would make. Fortunately, I had a secret weapon up my sleeve – or rather my mum did. She had rented out an office outside our apartment where she would keep files and paperwork. The office’s electricity bill was a flat rate as far as I’m aware and it ended up being my saving grace because it virtually got rid of the “oh no I’m actually going to be losing money because of how much electricity I’m eating up” factor, making this whole hardware upgrade viable. After convincing my parents, they finally agreed to shell out the requested amount, with the initial investment being paid back with time. I went to a local Bitcoin vendor and purchased 1 BTC for about $665 in cash (sigh yes, I know. $665 dollars). Shortly after, I used about 0.9 BTC to purchase the Antminer S7 and a 1600W power supply for a grand total of $600. The products would be made and shipped from China so I was definitely in for a wait. A month passes and the package arrives at last. I connected all the wires from the power supply into the S7 and – with great anticipation – I plugged it into the wall to start its first ever run. And what do you know? An extremely loud and high-pitched whirring sound blasted out from the fans on both the power supply as well as the S7. After killing the thing, I questioned my choices. I couldn’t dare put that thing anywhere near my mum’s office in the event it drive everyone in the building absolutely nuts. I was at a loss. However, I soon recovered from my temporarily debilitated state and got working on a solution. The first idea that came to my mind: change the fans. The stocks fans were by Evercool and spun at around 3000 RPM. The power supply used a small, robust fan that looked like a cube that must’ve spun at extremely high speeds judging by how high the sound it produced was. I got my parents to give me some more funding so I could acquire the replacement fans and I did. Bust. After installation and testing, none of the fans would work. I managed to configure the S7 to connect to my Antpool account and the machine would manage mining for several minutes running at peak performance but ultimately be automatically cut off because of how hot the machine was getting (I’m talking about 80 degrees Celsius kinda hot in that thing). The fans got refunded and I was back to the drawing board. After combing through some forum posts and videos, I came across this video and a forum post in which people have their mining rigs placed inside a ventilated, muffled cabinet. Undertaking a project like this would be time-consuming and risky but I had no better ideas so I decided to go through with the idea anyway. Firstly, I sought out a cabinet with suitable dimensions. I managed to get just what I needed at a second-hand IKEA shop. Great. Secondly, I went ahead and acquired some sound-absorbing acoustic foam from a local provider. Fantastic. Finally I had to get a ventilation system going within the cabinet, otherwise, all the hot air would roast the machine alive in there in a bloody mess. With the help of my dad, we found a pair cabinet fans on the Internet that were close to silent but could circulate the air well enough. Eventually, all the materials came and, with the help of my parents, put everything together. The process took quite long time and we had a couple hiccups along the way, but we got it done and it came out pretty nice. The moment of truth came and, to my relief, it ran so much quieter than without the cabinet. It was nowhere near silent but it reduced the noise a great deal. Soon after, I got the thing into the office and set everything up from there. Unfortunately, I was forced to underclock it because you could still hear the machine’s whining from outside the thin office door. Gunning the hashrate down about 25% to 3.7TH/s, I could lower the fan speed without risking the machine burning up. Sure, I wasn’t getting the full potential of the machine but I didn’t complain because electricity was not an issue there and it was still a whole lot better than my U3. With it up and running, I could leave it there, periodically checking to see if it was mining on Antpool.
In the months that followed, I was getting a solid $2.5 worth of BTC on daily basis. Half a year later, May of 2017, I had accumulated a satisfactory $600. I thought, “At this rate, I’d be able to pay my parents’ investment back in a few months” (the total investment came close to $900). Bitcoin had risen to over $1500 so I was already over the moon at that point because of how well everything was going. Little did I know… I hit 0.5 BTC midway through September this year. The price of BTC had dropped after a sudden rise to $5000, but I couldn’t have asked for more. Although I possessed only half the amount of BTC I paid for the machine, its value was over twice that of the initial investment. I thought BTC would level off at around $4000 but nope. In the month of October, the price skyrocketed. Since September, I had only mined 0.017 BTC but the value was already over $3000. It was just a matter of selling it, but I decided to hodl. Good thing I did. As of November 5, I have approximately 0.52 BTC mined in total from my S7, valued at $4000. If I were to sell it right now, I’d have a profit of over $3100. And as for my miner, it’s churning out 0.0006 BTC daily, sounds like nothing but it’s still the equivalent of $5 today and I couldn’t be happier, at least with the miner and Bitcoin. You remember that $665 for 1 BTC that I mentioned earlier? In hindsight, it would’ve been such a better idea to just keep that one Bitcoin and not do anything with it until today (in the interest of making much more money), as I’d theoretically have upwards of $7000. The idea of that still haunts me sometimes if I dwell on it too long but knowing that I’m in possession of an already hefty amount, the pain of it had numbed slightly. It’s not all doom and gloom for me from the exponential increase in Bitcoin’s value, however. Those first $0.3 payments from my humble little U3 all those years ago now are now the equivalent of over $6 today! Bitcoin and everything it encompasses has been and still is a journey of discovery and an adventure. Looking back, starting with a modest €60 Antminer U3 to having a sum of Bitcoin equivalent to two extremely high-end gaming rigs (first thing I could think of as a comparison, sorry) has been something I can’t really describe. Through the course of the past few years, I’ve learned more about technology, I’ve unexpectedly gotten insight into economics and business and – of course – I’ve made a lot of money (if I decide to stop hodling that is). Also, props to my parents for keeping an open mind throughout, I know some parents would be horrified at their kids being involved in something that has been used in some less-than-savoury ways and it's great knowing mine have been supportive all the way. TL;DR got into Bitcoin mining 3 years ago at age 11 with an Antminer U3 that ran at 60 GH/s, got an Antminer S7 (4.73TH/s) and built a sound-muffling, ventilated cabinet for it. Am sat here today with $3000 profit if I decide to sell right now.
10-25 17:53 - 'Around the world on 1 BTC -- my book's all finished.' (self.Bitcoin) by /u/markfromearth removed from /r/Bitcoin within 0-6min
''' Afternoon all, And a happy afternoon it is, what with Bitcoin soaring! Reminds me of my trip back in 2017. I bought 1 BTC for $4.7k and set off to 20 countries for 12 months all on that 1 coin. Wild ride. Met John McAfee and asked him about all the scams he's running. Asked Vitalik Buterin about life on mars. Got arrested by the police in Cairo. Slept under a bridge after my couchsurfing host bailed. A real roller coaster from start to finish. Rode it to $20k in early 2018 before riding it back down to $5k. Well, as promised, I finished writing the book about it. Or at least half the book. Stolen Wallets: And Where to Buy Them Here's the back cover blurb: ------------------------------------- What's in your wallet? You okay with a stranger poking through it? I'm not. Never in a million. My wallet is my private little hell. Receipts for things I can't afford and a picture of an ex I still miss. But there I was, standing in a grubby back alley in Bangkok. Wallets that once belonged to other people -- scattered on a table in front of me: Crocodile skin Gucci, scuffed generic brown leather, even a DIY duct-tape wallet -- each and every single one stolen. Curiosity killed my ethics. I picked one up. It was full. Not with money, of course, but with ... These are the stories of my travels. Before all this I was a desk jockey. Putting in my 9-to-5. Binge-watching Netflix alone. Then I bought 1 bitcoin -- and it started to skyrocket. Little did I know it was my golden ticket. From China to Europe. 20 countries, 12 months, and my skyrocketing bitcoin. A red carpet to a world of fast money, greed, hype, hope and corruption. Wild crypto parties. Fake tits on fake friends. Stacks of counterfeit money. Stolen wallets. Then the bubble popped -- and the world of the newly rich began burning down around me. ----------------------------- It's a short book. 40 something pages. It's the first half of the whole story. That's why it's only $5.50 for the paperback on Amazon -- that's the lowest Amazon let's me go (break even). I figured it's best to test the waters first. I'm not the best writer. No Pulitzer prize gathering dust on a mantel. Putting together this first half took months of writing, re-writing, and drinking until the words looked right. Not much more to say besides posting the "1st chapter" (It's more of a logbook entry) down below and a link to Amazon. [[link]4 Previous Reddit post: [[link]5 website: [[link]6 ------------------------------------- Logbook. Entry 1. T minus 2 days to launch. On the black market… My liver is worth: 55.78 bitcoins. One of my kidneys: 16.41 bitcoins (if sold in China) and 4.11 bitcoins (if sold in India). My skeleton: 0.99 Bitcoins -- spooky cheap. My dick? Hm. I can’t seem to find a reliable source for black market cocks. That’s not good. Listen, say I get kidnapped -- which is entirely possible where I’m going. Then, after a few days of torture, the kidnappers say: “Deeply sorry about this, young man, but since no one came through with your ransom we’ll need to go ahead and harvest one of your major organs -- have a preference?” If the black market ran rife with naughty bits -- and my drinking habits still required a functioning liver -- I’d go ahead and have them lop off my cock. *sigh* Welcome, ladies and gentlemen, to my brain at 2 o’clock in the morning. I can’t stop thinking. I can’t stop worrying. In a few very short days I fly away. Away from my family, my friends, the friendly neighborhood dog I pet on my way to work (Good old Charlie, with his lopsided ears and robber-scaring bark). In short -- away from everything I know. Away from home. And for what? To travel around the world … on 1 bitcoin.
Beijing -- Bitcoin is banned. And I’m going during military prep for the 19th Congress of the Communist Party. Real solid timing on my part there.
Shanghai -- China’s largest underground smuggling hub for opium, molly, cocaine, and black-tar heroin. Also -- I could be fined and jailed for jaywalking.
Hong Kong -- I can buy a fake Rolex for $10, or a real one that ‘fell off the back of the truck’ for $1500. Do they accept Bitcoin?
Burma (Myanmar)-- This is where shit hits the fan. There’s a genocide boiling in NorthWest Burma. The Army is herding minorities and burning their villages. I’ve heard BTC helps them escape.
Cambodia -- Tourists are given the option to rent rocket launchers ... and blow up cows. Jesus Christ. Unreal. Are cryptocurrencies involved?
Bangkok -- The sex trafficking capital of S.E. Asia. Massage parlors, ping-pong shows, and “happy endings.” Will this country be my happy ending? (Note to editor: delete that joke. I can do better).
The Philippine’s -- “President Rodrigo Duterte urges citizens to shoot drug addicts in the streets.” He promised enough drug dealer bodies would be dumped in Manila Bay that fish there would grow fat from feeding on them. Does the same go for BTC traders?
India -- Transplant tourism. The Red Market. Hearts, lungs, livers handed off for a digital wallet full of crypto -- none of which goes to the victims. Perhaps if I get desperate I’ll sell a kidney.
Africa -- Not sure which country I’ll wind up in. Not sure if I’ll even make it. One bitcoin is not exactly a hefty sum. By this point I’ll be running out -- and that’s if the value of my single bitcoin hasn’t buried it’s two front teeth in the dirt.
Europe -- who am I kidding? The odds of me arriving in Europe with my wallet in one hand and my dick in the other are as tiny as both those things.
The goal: 365 days. 12 months. 1 year… on 1 bitcoin. To survive I’ll need to couchsurf, eat cheap street food, and rely on the kindness of strangers -- cryptocurrency strangers. If I accidentally trade my bitcoin for counterfeit money -- I’ll go to foreign prison. If I get food poisoning -- I’ll end up in a 3rd world hospital. If a couchsurfing host bails on me -- I’ll be sleeping under a bridge. If I trade my bitcoin in a non-public place -- I’ll get mugged. But if I trade in a public place I could be mistaken for a drug dealer -- and shot. In fact, I’ll need to make a supremely concentrated effort to not get jailed, mugged, stranded, or shot. Jesus, no wonder I can’t sleep. Why am I doing this? 2 weeks ago. A local Denny’s Diner. All-American breakfast -- a weekend routine for my father. “Bitcoin is not money.” “Dad.” “Bitcoin will never be money.” “Dad.” “And you should shave off your beard.” “....It’s a good beard, dad.” The waitress politely offers to refill his coffee. He waves her away. “You’re mother keeps calling me. She used to never call me. I’ve worked hard to keep it that way. Now she’s calling me day and night. Worried sick.” “She’s a good mom.” “She’s a pain in the ass. You’re a pain in the ass. She calls me, telling me to talk you out of going, reading me headlines,” he continues while salting his eggs aggressively, “Jealous Gay Husband Uses Bitcoin to Hire Hitman. Sex trafficking on the Silk Road with Bitcoin. Terrorism on the rise with the rise of Bitcoin. I’d hang up but she’d call me back with ten more.” “Not to worry, sheriff. I won’t be financing a revolution.” “What will you be financing, hm? With this magic internet money?” He waves a breakfast sausage at the grocery store across the street. “Say I have a mind to go shopping. Fill the fridge. Put bread, butter, and beer on my table tonight. Think the teller will let me pay with your Facebook likes? Hm? Because that’s what they are. These bitcoins, these junkie frequent flier miles. About as useful as condoms to the Pope.” I had to laugh at that one. “That’s the spirit, sheriff. That’s what I’ll be traveling to find out. What the hell I can finance. What can I buy with my magic internet money.” “And how much of this fairy dust do you own?” “One. I bought one Bitcoin.” “And how big a hole did it burn in your wallet?” “Four thousand, seven hundred dollars...and change.” Dad’s not the type to bulge his eyes out in surprise. His is the clench of the jaw that markes his disapproval. “You could have put that money toward getting your shit together.” I met his disapproval. “This is me getting my shit together.” “That a fact? And how much is your one pedobuck worth today?” he says, scrutinizing me over his cup of coffee. Waiting. He used to be a great cop. It’s why I never could get away with anything as a kid. Still can’t. I look away. “Four thousand two hundred.” “Down five hundred bucks, already?” “Yup.” “In one week?” “Something like that.” Times like this. Right here. Times like this remind me of those unimaginative books where the author writes “and then he picked at his food.” What a terrible line. Overused. Unimaginative. But here I am ... picking at my food. No matter how old I get, dad’s disapproval will always be something special. “You know what you might have done with that money? Hm?” He tosses his used napkin on his empty breakfast plate. “Gone to a barber. Shaved your beard.” Down went the last swig of his coffee. “Looked for another engineering job. Got another engineering job. Used that fancy university degree you’re still in debt for.” “I’ve been trying.” “Try harder. Get your shit together.” “Sheriff, I -” “Listen, my genius son, I will not bail you out. I will not let your mother bail you out. We do not have the money. What you are doing is a mistake. It will end in failure.” “Sheriff-” “I am not finished. You have never taken a trip remotely like this in your entire life.” He always had a remarkable way of raising his voice without actually raising his voice. “I will not be speaking ching-chong Chinese to some oriental dipshit deputy because you stuck your finger in someone’s else’s dumpling. Your mother will not fly out to Cambodia with a steaming bowl of chicken noodle soup because you ate tapeworm salad. And God forbid. God forbid you get taken, held for ransom, or sliced open.” “I understand.” “You do not understand.” He begins ticking off fingers. “If you get stranded. If you get imprisoned. If you get hospitalized. If someone steals your magic computer fairy dust. Nobody will bail you out. There will be no cavalry. You will be on your own. Alone.” And now the silence. Silence like a large wave going out, giving you time to change your mind, time to rethink your life choices. Before the wave returns to knock your sandcastle out. “No, Sheriff, I’m doing this.” “Why?” “To find out if bitcoin is money. If it has a future.” “Unacceptable. Stick your nose in a book about it. Why do you want to go?” “I’ve never done anything like this before. This’ll test me. Make me grow.” “Pussy of a reason,” he growls. “Why are you going?” “I don’t know. But I’ll find out.” ………. …. After awhile he stands. “Remember.” He takes out his wallet. “You get on that plane --- and there won’t be no cavalry.” Withdraws a few crisp bills. Tosses them on the table. “And only money … is money.” ------------------------------------------------------------------------------------------------ Let me know if you enjoyed it or not. I could keep posting logbook entries? Or I could read it on Youtube. Post the whole book chapter by chapter. Not like Amazon needs the money, amiright? And if it's no good, say that too. Saves me time since I won't need to write the rest. ''' Around the world on 1 BTC -- my book's all finished. Go1dfish undelete link unreddit undelete link Author: markfromearth 1: www*amaz*n.com/St**e**W**let*-W**re-Buy-Th*m*dp/108*0855*6/ 2: *ww.reddit.com**itco*n/com*ents/*gh*eb/i_***vele*_the_w*r*d_on_*_bt*_*nd**i**ll*/ 3: bitcoi*a*oun**heworld*com* 4: ww*.amazo****m/S**len-W*llets-Where**uy*The*/dp/10*608556**]*^1 5: ww*.r*d*it.*om/Bitcoi*/com*ents/**h*eb*i\*trave*ed\*the\_wor*d*_o*\_**_btc\***d\_final*y/**^2 6: bitco*nar*u*d**e*o*ld.com/]^*3 Unknown links are censored to prevent spreading illicit content.
Authored by Valentin Schmid via The Epoch Times, While the price of bitcoin drops, miners get more creative... and some flourish. The bitcoin price is crashing; naysayers and doomsayers are having a field day. The demise of the dominant cryptocurrency is finally happening — or is it? Bitcoin has been buried hundreds of times, most notably during the brutal 90 percent decline from 2013 to 2015. And yet it has always made a comeback. Where the skeptics are correct: The second bitcoin bubble burst in December of last year and the price is down roughly 80 percent from its high of $20,000. Nobody knows whether and when it will see these lofty heights again. As a result, millions of speculators have been burned, and big institutions haven’t showed up to bridge the gap. This also happened on a smaller scale in 2013 after a similar 100x run-up, and it was necessary.
Time to Catch Up
What most speculators and even some serious proponents of the independent and decentralized monetary system don’t understand: Bitcoin needs these pauses to make improvements in its infrastructure. Exchanges, which could not handle the trading volumes at the height of the frenzy and did not return customer service inquiries, can take a breather and upgrade their systems and hire capable people. The technology itself needs to make progress and this needs time. Projects like the lightning network, a system which delivers instant bitcoin payments at very little cost and at virtually unlimited scale is now only available to expert programmers. A higher valuation is only justified if these improvements reach the mass market. And since we live in a world where everything financial is tightly regulated, for better or worse, this area also needs to catch up, since regulators are chronically behind the curve of technological progress. And of course, there is bitcoin mining. The vital infrastructure behind securing the bitcoin network and processing its transactions has been concentrated in too few hands and in too few places, most notably China, which still hosts about 70 percent of the mining capacity.
The Case For Mining
Critics have always complained that bitcoin mining consumes “too much” electricity, right now about as much as the Czech Republic. In energy terms this is around 65 terawatt hours or 230,000,000 gigajoules, costing $3.3 billion dollars according to estimates by Digiconomist. For the non-physicists among us, this is around as much as consumed by six million energy-guzzling U.S. households per year. All those estimates are imprecise because the aggregate cannot know how much energy each of the different bitcoin miners consumes and how much that electricity costs. But they are a reasonable rough estimate. So it’s worth exploring why mining is necessary to begin with and whether the electricity consumption is justified. Anything and everything humans do consumes resources. The question then is always: Is it worth it? And: Who decides? This question then leads to the next question: Is it worth having and using money? Most people would argue yes, because using money instead of barter in fact makes economic transactions faster and cheaper and thus saves resources, natural and human. _Merchants exchange goods with the inhabitants of Tidore, Indonesia, circa 1550. Barter was supplanted by using money because it is more efficient. (Archive/Getty Images)_If we are generously inclined, we will grant bitcoin the status of a type of money or at least currency as it meets the general requirements of being recognizable, divisible, portable, durable, is accepted in exchange for other goods and services, and in this case it is even limited in supply. So having any type of money has a price, whether it’s gold, dollar bills, or numbers on the screen of your online banking system. In the case of bitcoin, it’s the electricity and the capital for the computing equipment, as well as the human resources to run these operations. If we think having money in general is a good idea and some people value the decentralized and independent nature of bitcoin then it would be worth paying for verifying transactions on the bitcoin network as well as keeping the network secure and sound: Up until the point where the resources consumed would outweigh the efficiency benefits. Just like most people don’t think it’s a bad idea to use credit cards and banks, which consume electricity too. However, bitcoin is a newcomer and this is why it’s being scrutinized even more so than the old established players.
Different Money, Different Costs
How many people know how much electricity, human lives, and other resources gold mining consumes or has consumed in the course of history? What about the banking system? Branches, servers, air-conditioning, staff? What about printing dollar notes and driving them around in armored trucks? What about the social effects of monetary mismanagement of bank and government money like inflation as well as credit deflations? Gold gets a pass here. Most people haven’t asked that question, which is why it’s worth pointing out the only comprehensive study done on the topic in 2014. In “An Order of Magnitude” the engineer Hass McCook analyzes the different money systems and reaches mind-boggling conclusions. The study is a bit dated and of course the aggregations are also very rough estimates, but the ball park numbers are reasonable and the methodology sound. In fact, according to the study, bitcoin is the most economic of all the different forms of money. Gold mining in 2014 used 475 million GJ, compared to bitcoin’s 230 million in 2018. The banking system in 2014 used 2.3 billion gigajoules. Over 100 people per year die trying to mine gold. But mining costs more than electricity. It consumes around 300,000 liters of water per kilogram of gold mined as well as 150 kilogram (330 pounds) of cyanide and 1500 tons of waste and rubble. The international banking system has been used in all kinds of fraudulent activity throughout history: terrorist financing, money laundering, and every other criminal activity under the sun at a cost of trillions of dollars and at an order of magnitude higher than the same transactions done with cryptocurrency and bitcoin. And of course, while gold has a relatively stable value over time, our bank and government issued money lost about 90 percent of its purchasing power over the last century, because it can be created out of thin air. This leads to inflation and a waste of physical and human resources because it distorts the process of capital allocation. _The dollar has lost more than 90 percent of its value since the creation of the Federal Reserve in 1913. (Source: St. Louis Fed)_This is on top of the hundreds of thousands of bank branches, millions of ATMs and employees which all consume electricity and other resources, 10 times as much electricity alone as the bitcoin network. According to monetary philosopher Saifedean Ammous, author of “The Bitcoin Standard,” the social benefit of hard money, i.e. money that can’t be printed by government decree, cannot even be fathomed; conversely, the true costs of easy money—created by government fiat and bank credit—are difficult to calculate. According to Ammous, bitcoin is the hardest money around, even harder than gold because its total supply is capped, whereas the gold supply keeps increasing at about 1-2 percent every year. “Look at the era of the classical gold standard, from 1871, the end of the Franco–Prussian War, until the beginning of World War I. There’s a reason why this is known as the Golden Era, the Gilded Age, and La Belle Epoque. It was a time of unrivaled human flourishing all over the world. Economic growth was everywhere. Technology was being spread all over the world. Peace and prosperity were increasing everywhere around the world. Technological innovations were advancing. “I think this is no coincidence. What the gold standard allowed people to do is to have a store of value that would maintain its value in the future. And that gave people a low time preference, that gave people the incentive to think of the long term, and that made people want to invest in things that would pay off over the long term … bitcoin is far closer to gold. It is a digital equivalent of gold,” he said in an interview with The Epoch Times. Of course, contrary to the gold standard that Ammous talks about, bitcoin doesn’t have a track record of being sound money in practice. In theory it meets all the criteria, but in the real world it hasn’t been adopted widely and has been so volatile as to be unusable as a reliable store of value or as the underlying currency of a productive lending market. The proponents argue that over time, these problems will be solved the same way gold spread itself throughout the monetary sphere replacing copper and seashells, but even Ammous concedes the process may take decades and the outcome is far from certain. Gold is the safe bet for sound money, bitcoin has potential. There is another measure where bitcoin loses out, according to a recent study by researchers from the Oak Ridge Institute in Cincinnati, Ohio. It is the amount of energy expended per dollar for different monetary instruments. One dollar worth of bitcoin costs 17 megajoules to mine versus five for gold and seven for platinum. But the study omits the use of cyanide, water, and other physical resources in mining physical metals. In general, the comparisons in dollar terms go against bitcoin because it is worth relatively less, only $73 billion in total at the time of writing. An issue that could be easily fixed at a higher price, but a higher price is only justified if the infrastructure improves, adoption increases, volatility declines, and the network proves its resilience to attacks over time. In the meantime, market participants still value the fact they can own a currency independent of the government, completely digital, easily fungible, and limited in supply, and relatively decentralized. And the market as a whole is willing to pay a premium for these factors reflected in the higher per dollar prices for mining bitcoin.
The Creativity of Bitcoin Mining
But where bitcoin mining lacks in scale, it makes up for it in creativity. In theory—and in practice—bitcoin mining can be done anywhere where there is cheap electricity. So bitcoin mining operations can be conducted not where people are (banking) or where government is (fiat cash) or where gold is (gold mining)—it can be done everywhere where there is cheap electricity Some miners are flocking to the heat of the Texan desert where gas is virtually available for free, thanks to another oil revolution. Other miners go to places where there is cheap wind, water, or other renewable energy. This is because they don’t have to build bank branches, printing presses, and government buildings, or need to put up excavators and conveyor belts to dig gold out of the ground. All they need is internet access and a home for the computers that look like a shipping container, each one of which has around 200 specialized bitcoin mining computers in them. “The good thing about bitcoin mining is that it doesn’t matter where on earth a transaction happens, we can verify it in our data center here. The miners are part of the decentralized philosophy of bitcoin, it’s completely independent of your location as well,” said Moritz Jäger, chief technology officer at bitcoin Mining company Northern Bitcoin AG.
But so far, this decentralization hasn’t worked out as well as it sounds in theory. Because Chinese local governments had access to subsidized electricity, it was profitable for officials to cut deals with bitcoin mining companies and supply them with cheap electricity in exchange for jobs and cutbacks. Sometimes the prices were as low as 2 dollar cents to 4 dollar cents per kilowatt hour. This is why the majority of bitcoin mining is still concentrated in China (around 70 percent) where it was the most profitable, but only because the Chinese central planners subsidized the price of electricity. This set up led to the by and large unwanted result that the biggest miner of bitcoin, a company called Bitmain, is also the biggest manufacturer of specialized computing equipment for bitcoin mining. The company reported revenues of $2.8 billion for the first half of 2018. Tourists walk on the dunes near a power plant in Xiangshawan Desert in Ordos of Inner Mongolia, in this file photo. bitcoin miners have enjoyed favorable electricity rates in places like Ordos for a long time. (Feng Li/Getty Images)Centralized mining is a problem because whenever there is one player or a conglomerate of players who control more than 50 percent of the network computing power, they could theoretically crash the network by spending the same bitcoin twice, the so called “double spending problem.“ They don’t have an incentive to do so because it would probably ruin the bitcoin price and their business, but it’s better not to have to rely on one group of people controlling an entire money system. After all, we have that exact same system with central banking and bitcoin was set up as a decentralized alternative. So far, no player or conglomerate ever reached that 51 percent threshold, at least not since bitcoin’s very early days, but many market participants always thought Bitmain’s corner of the market is a bit too close for comfort. This favorable environment for Chinese bitcoin mining has been changing with a crack down on local government electricity largess as well as a crackdown on cryptocurrency. Bitcoin itself and mining bitcoin remain legal in China but cryptocurrency exchanges have been banned since late 2017. But more needs to be done for bitcoin to become independent of the caprice of a centralized oppressive regime and local government bureaucrats.
Northern Bitcoin Case Study
Enter Northern Bitcoin AG. The company isn’t the only one which is exploring mining opportunities with renewable energies in locations other than China. But it is special because of the extraordinary set up it has for its operations, the fact that it is listed on the stock exchange in Germany, and the opportunities for scaling it discovered. The operations of Northern Bitcoin combine the beauties of bitcoin and capitalism in one. Like Texas has a lot of oil and free gas and it makes sense to use the gas rather than burn it, Norway has a lot of water, especially water moving down the mountains due to rainfall and melting snow. And it makes sense to use the power of the movement of the water, channel it through pipes into generators to create very cheap and almost unlimited electricity. Norway generates north of 95 percent of its total electricity from hydropower. A waterfall next to a hydropowerplant near Sandane, Norway, Oct. 25, 2018. (Valentin Schmid/The Epoch Times)Capitalism does not distinguish between renewable and fossil. It uses what is the most expedient. In this case, it is clearly water in Norway, and gas in Texas. As a side note on the beauties of real capital and the fact that capital and the environment need not be enemies, the water in one of the hydropowerplants close to the Northern Bitcoin facility is piped through a generator made in 1920 by J.M. Voith AG, a company from Heidenheim Germany. The company was established in 1867 and is still around today. The generator was produced in 1920 and is still producing electricity today.
In the remote regions of Northern Norway, there aren’t that many people or industry who would use the electricity. And rather than transport it over hundreds of miles to the industrial centers of Europe, the industries of the future are moving to Norway to the source of the cheap electricity. Of course, it is not just bitcoin mining, but other data and computing heavy operations like server farms for cloud computing that can be neatly packaged into one of those containers and shipped up north. “The containers are beautiful. They are produced in the middle of Germany where the hardware is enabled and tested. Then we put it on a truck and send it up here. When the truck arrives on the outside we lift it on the container vehicle. Two hours after the container arrives, it’s in the container rack. And 40 hours later we enable the cooling, network, power, other systems, and it’s online,” said Mats Andersson, a spokesman for the Lefdal Mine data center in Måløy, Norway, where Northern Bitcoin has its operations. Plug and play. A Northern Bitcoin data container inside the Lefdal Mine data center, in Måløy, Norway. (Northern Bitcoin)If the cheap electricity wasn’t enough—around 5 cents per kilowatt hour compared to 17 cents in Germany—Norway also provides the perfect storage for these data containers, which are normally racked up in open air parks above the ground. Also here, the resource allocation is beautiful. Instead of occupying otherwise useful and beautiful parcels of land and nature, the Northern Bitcoin containers and others are stored in the old Lefdal olivine mine. Olivine is a mineral used for steel production and looks green. Very fitting. Hence also the name of the data center: Lefdal Mine. “We take the green mineral out and we take the green IT in,” said Andersson.
Using the old mine as storage for the data center makes the whole process even more resource efficient. Why? So far, we’ve only been talking about bitcoin mining using a lot of energy. But what for? Before you have actually seen the process in action—and it is similar for other computing operations—you cannot imagine how bizarre it is. Most of the electricity is used to prevent the computers from overheating. So it’s not even the processors themselves; it’s the fans which cool the computer that use the most juice. This is where the mine helps, because it’s rather cool 160 meters (525 feet) below sea level; certainly cooler than in the Texas desert. But it gets even better. On top of the air blow-cooling the computer, the Lefdal data center uses a fresh water system to pump through the containers in pipes. The fans can then circulate air over the cool pipes which transfer the heat to the water. One can feel the difference when touching the different pipes. The fresh water closed circle loop then completes the “green” or resource efficiency cycle by transferring its heat to ice cold water from the nearby Fjord. The water is sucked in through a pipe from the Fjord, the heat gets transferred without the water being mixed, and the water flows back to the Fjord, without any impact on the environment. To top it all off, the mine has natural physical security far better than open air data centers and is even protected from an electromagnetic pulse blast because it’s underground.
_The Nordfjord near Måløy, Norway. The Lefdal data center takes the cold water from the fjord and uses it to cool the computer inside the mine. (Valentin Schmid/The Epoch Times)_Company Dynamics
Given this superlative set up, Northern Bitcoin wants to ramp up production as fast as possible at the Lefdal mine and other similar places in Norway, which have more mountains where data centers can be housed. At the moment, Northern Bitcoin has 15 containers with 210 mining machines each. The 15 containers produce around 5 bitcoin per day at a total cost of around $2,500 dollars at the end of November 2018 and after the difficulty of solving the math problems went down by ~17 percent. Most of it is for electricity; the rest is for leasing the containers, renting the mine space, buying and writing off the mining computers, personnel, overhead, etc. Even at the current relatively depressed prices of around $4000, that’s a profit of $1500 per bitcoin or $7,500 per day. But the goal is to ramp it up to 280 containers until 2019, producing 100 bitcoin per day. Again, the company is in the sweet spot to do this. As opposed to the beginning of the year when one could not procure a mining computer from Bitmain even if one’s life depended on it, the current bear market has made them cheap and relatively available both new and second had from miners who had to cease operations because they can’t produce at low bitcoin prices. Northern Bitcoin containers inside the Lefdal Mine data center in Måløy, Norway. (Northern Bitcoin)What about the data shipping containers? They are manufactured by a company called Rittal who is the world market leader. So it helps that the owner of Rittal also owns 30 percent of the Lefdal mine, providing preferential access to the containers. Northern Bitcoin said it has enough capital available for the intermediate goal of ramping up to 50 containers until the end of year but may tap the capital markets again for the next step. The company can also take advantage of the lower German corporate tax rate because revenue is only recorded when the bitcoin are sold in Germany, not when they are mined in Norway. Of course, every small-cap stock—especially bitcoin companies—have their peculiarities and very high risks. As an example, Northern Bitcoin’s financial statements, although public, aren’t audited. The equipment in the Lefdal mine in Norway is real and the operations are controlled by the Lefdal personnel, but one has to rely on exclusive information from the company for financials and cost figures, so buyer beware.
Northern Bitcoin wants to have 280 containers, representing around 5 percent of the network’s computing power. But the Lefdal mine alone has a capacity to power and cool 1,500 containers in a 200 megawatt facility, once it is fully built out. “Here you have all the space, power, and cooling that you need. … Here you can grow,” said Lefdal’s Andersson. A mine shaft in the Lefdal Mine data center in Måløy, Norway. The whole mine will have a capacity for 1500 containers once fully built out. (Valentin Schmid/The Epoch Times)The Norwegian government was behind an initiative to bring computing power to Norway and make it one of the prime destinations for data centers at the beginning of this decade. To that effect, the local governments own part of the utility companies which operate the power plants and own part of the Lefdal Mine and other locations. But even without notable subsidies (i.e. cash payments to companies), market players were able to figure it out, for everybody’s benefit. The utilities win because they can sell their cheap electricity close to home. The computing companies like IBM and Northern Bitcoin win because they can get cheap electricity, storage, and security. Data center operators like Lefdal win because they can charge rent for otherwise unused and unneeded space. However, in a recent about face, the central government in Oslo has decided to remove cryptocurrency miners from the list of companies which pay a preferential tax rate on electricity consumption. Normally, energy intensive companies, including data centers, pay a preferential tax on electricity consumed of 0.48 øre ($0.00056 ). According to a report by Norwegian media Aftenposten, this tax will rise to 16.58 øre ($0.019) in 2019 for cryptocurrency miners exclusively. The argument by left wing politician Lars Haltbrekken who sponsored the initiative: “Norway cannot continue to provide huge tax incentives for the most dirty form of cryptocurrency output […] [bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally.” Since Norway generates its electricity using hydro, precisely the opposite is true: No greenhouse gas emissions, or any emissions for that matter would be produced, if all cryptomining was done in Norway. As opposed to China, where mining is done with coal and with emissions. But not only in Norway is the share of renewable and emission free energy high. According to research by Coinshares, Bitcoin’s consumes about 77.6 percent of its energy in the form of renewables globally. However self-defeating the arguments against bitcoin mining in Norway, the political initiative is moving forward. What it means for Northern Bitcoin is not clear, as they house their containers in Lefdal’s mixed data center, which also has other clients, like IBM. “It’s not really decided yet; there are still big efforts from IT sectors and parties who are trying to change it. If the decision is taken it might apply for pure crypto sites rather than mixed data centers, like ours,” said Lefdal’s Andersson. Even in the worst-case scenario, it would mean an increase from ~5 cents to ~6.9 cents per kilowatt hour, or 30 percent more paid on the electricity by Northern Bitcoin, which at ~$3250 would still rank it among the most competitive producers in the world. Coinshares estimates the average production price at $6,800 per Bitcoin at $0,05 per kilowatt hour of electricity and an 18-months depreciation schedule, but concedes that a profitable miner could “[depreciate] mining gear over 24-30 months, or [pay] less for mining gear than our estimates.” Jäger says Northern Bitcoin depreciates the equipment over three years and has obtained very favorable prices from Bitmain, making its production much more competitive than the average despite the same cost of electricity. In addition, the natural cooling in the mine also reduces electricity costs overall.
Cheap Producer Advantage
At the moment, however, the tax could be the least of any miners worry, as the bitcoin price is in free-fall. But what happens when the price crashes further? Suffice it to say that there was bitcoin mining when the dollar price was less than 1 cent and there will be bitcoin mining at lower prices thanks to the design of the network. Mao Shixing, the founder of mining pool F2pool estimated 600,000 miners have shut down since the November crash in price, according to a report by Coindesk. As it should be in a competitive system, the most energy intensive and obsolete machines are shut down first. As with every other commodity, when the price drops, some miners will leave the market, leaving space for cheaper competitors to capture a bigger share. But with bitcoin this is a bit simpler than with copper or gold for example. When a big copper player goes bankrupt, its competitors have to ramp up production and increase cost to increase their market share. With bitcoin, if 3,000 computers get taken off the total mining pool, they won’t be able to mine the approximately 5 bitcoin any longer. However, because the difficulty of solving the computationally intensive cryptographic tasks of bitcoin decreases automatically when there are fewer computers engaged in the task, the other players just have to leave their machines running at the same rate for the same cost and they will split the 5 bitcoin among them. “The moment the price goes down, our production price will go down as well,” said Jäger, a process that already happened from November to December when the difficulty decreased twice in November and the beginning of December. This naturally favors players like Northern Bitcoin, which are producing at the lower end of the cost spectrum. They will be the ones who shut down last. And this is a good thing. The more companies like Northern Bitcoin, and countries like Norway—even with the extra tax—the more decentralized the bitcoin system. The more computers there are in different hands mining bitcoin, the more secure the system becomes, because it will be ever more difficult for one player to reach the 50 percent threshold to crash the system.It is this decentralized philosophy which has kept the bitcoin system running for 10 years. Whether at $1 or $20,000.
The $22,484.00 Butterfly Labs Mini Rig bitcoin miner is a huge, broken, unstable piece of shit.
(This was a rather controversial article posted on Buttcoin.org and became quite popular, even moving to the top of /bitcoin. It's since been mysteriously edited on the site [maybe by g-g-g-ghosts!] so it's being reposted here for posterity's sake. Some numbers may be off by now, but it was all accurate at the time of posting.) Butterfly Labs has a long and horrible history with their mining rigs. They started taking pre-orders over a year ago, with a ship time sometime in late July. After numerous delays in production, shipping problems and general incompetence, the only thing they’ve managed to get out the door are some of their tiniest miners, the Jalapenos. And those mainly ended up in the hands of reviewers and blogs in order to keep pumping the Butterfly Labs hype train and securing millions of dollars of pre-orders still in limbo.Lucky BFL forums user Luke-JR however scored a sweet Mini Rig from Butterfly Labs (it’s just a coincidence he’s a driver developer for them I’m sure). This rig was originally promised to produce 1500 GH/s hashing power at 1500 watts for $30,000, but has since seen it’s hashing power slashed to a third of what was promised and it’s power consumption increased 75%, now just offer 500 GH/s at 2400 watts. They’ve promised to make good on pre-order buy sending out 3 rigs to match the initial hashing rate, so now it’s only 1500 GH/s at 6900 watts, a reduction in GH/Watt by a factor of 5. So what does $22,484 buy you? Take a look!
Minirig is here! Today, my Minirig arrived. http://i.imgur.com/Yp0WPvE.jpg FedEx apparently dropped it somewhere along the way, and the weakest part of the case, the thin metal part around the back of the PSU, broke. http://i.imgur.com/lFcOHxP.jpg I’m not sure how sturdy the back side was supposed to be, but its two pieces aren’t quite together either. http://i.imgur.com/AVttcOt.jpg The power supplies (EVGA 1500W) also created havoc interfering with the neutral on the power line. This disrupted X10 communication significantly enough that the pool overflowed because the system controlling it was unable to turn off the pump. Workaround: This PSU supports 240V, so we rewired the outlet. 240V does not use neutral, so now all should be okay. Edit: 240V workaround is only partial. Still having problems But the good news is, it all seems to be working for the most part. Next up, installing it in the window so the heat goes outside
A twenty two thousand dollar box of electronics that is broken out of the box, that required the guy to do a sketchy electrical workaround to get partially working, that he is going to install in a window… and he’s happy about it? In case you didn’t notice it, the delivered unit is different than the picture on the website. They had to install 2 power supplies instead of 1 and had to modify the case to fit. Also, if you didn’t notice, the LCD/Phone thingy in the front has been replaced by … a piece of cardboard spray painted black. Wonderful. You could maybe chalk this up to a careless Fedex postman, but when you’re shipping something that costs as much as a mid-sized sedan, how bought putting a little more effort into packing? Dell and HP can ship bigger and heavier servers across the world without this kind of problem. The unit had to hit its huge power draw increase by putting dual EVGA consumer grade power supplies in the unit. We’re talking almost a 75 amp load (6*1500/120), disregarding power factor. He could very well overload the circuit panel and trip the main breaker for the house. Let’s take a look inside this guy. This is from an earlier version of the Minirig (note the single power supply) This is apparently from an earlier FPGA but it will give you a good glimpse at what kind of craftsmanship you can expect from a computer that is half the average household income in the United States. Consumer grade PSU and cheap USB hubs glued to the inside case. Electrical tape and random velcro glued to the insides A closer look at the USB hubs. Plugs are hot glued to stay secured. Electrical tape everywhere, splices and voided hardware are the theme. You can view the entire album here. Despite all that, this thing can still mine bitcoins and it should be profitable. Keep in ind that many people jumped in on the preorders a year ago when bitcoins were still hovering around $6.50 per. Meaning customers paid 1562 bitcoins for that particular piece of shit, which at today’s value is $156,200. Aston martin money. How long will it take them to make their money back (as apposed to just hanging on to them)? If the difficulty didn’t change, they would make 37 bitcoins a day and recoup the initial investment in 124 days. Difficulty is jumping pretty much 20% every 12 days or so, so in the next week before adjustment, they’ll make 259, the next 12 days 369, the next 12 days 312, then 256, then 213, etc. So by day 127, they’ll be halfway to breaking even, but by day 151 they’ll be making less than 5 bitcoins a day, and even if difficulty stopped rising at that point(which it won’t), it would take another 435 days for a total of 586 days to break even. If difficulty kept rising at the same pace, by day 200 they’d be making 2.4 bitcoins per day, and it would take 1024 days to break even with no difficulty increase. Assuming 25 cents per kw/h, and $100 a bitcoin, it would cost 0.43 of a bitcoin per day in electricity which means the unit would no longer be profitable on a power usage basis by day 307, at which point it will have produced 2620 bitcoins. Bear in mind this is only for the first few units, and that’s running 24/7 pumping out around 24,000 BTU, so yes, medical bills from heat stroke will be on top of that. But Alas, the chips don’t run nearly as well as they’re supposed to, frequently running too hot and giving multiple hardware failures. Coindesk noted in one of the first ever runs of the Minirig by hosting provide gigavps that it was running much too hot and erroring out.
At the time of posting, gigavps warned that the unit would be repeatedly shut down while ckolivas, who was assisting, modified the machine’s software to optimise performance. After some tweaking, the device was said to have been left to run continuously for two hours, and was shown to have an average hash rate of 478.1 GH/s. As you can see in the table below, ASIC number four (of a total of eight hashing chips) ran significantly hotter (86 degrees) and consequently gave the highest hardware (HW) error rate. http://i.imgur.com/q3iGrnb.jpg
So, what happens if you just decide you don’t want this, you don’t want to wait over a year to get a $22,000 broken piece of shit? Nothing, because BFL won’t let you cancel your preorder because they’re now “shipping”, i.e. they sent out one unit to their own company shill. http://i.imgur.com/0p3Up03.jpg Which is of course illegal regardless of what Butterfly Labs may say. So in summary: Don’t buy anything from Butterfly Labs … ever.
Questioning CoinTerra & CloudHashing.com: Have They Committed Massive Fraud?
Reddit Community: I don't make this post lightly and I hope that my assertions are incorrect. I never wish to harm a legitimate company that is doing good and treating customers fairly, and if I'm wrong I will be the first to apologize. Regrettably, I fear that my assertions are accurate and demonstrate yet another bitcoin related ripoff. There's little doubt that CoinTerra isn't doing what they claim to be doing. By now, I'm sure you've read the articles and press releases about how CoinTerra has shipped their 1000th machine and now power 6% of all bitcoin mining activity. But WHO are they shipping to? If you visit CoinTerra's Facebook page you'll see 100's of upset and weary customers asking about the delivery of their hardware (https://www.facebook.com/pages/CoinTerra/490391321051440). Yet, CoinTera claims they've shipped over 1000 units. Interesting, right? One customer that has received hardware from CoinTerra is CloudHashing.com. Over the past few weeks, their mining capabilities have increased from 150 TH/s to 1750 TH/s (an increase of over 1500 TH/s). So what's the big deal? When you visit TerraMineHosting (http://terraminehosting.com) you'll see that it's advertised as a hosting platform exclusively for CoinTerra customers. And guess who 'powers' TerraMineHosting? None other than, CloudHashing.com. So the question is this: Has CoinTerra taken 'pre-orders' from hundreds of people only to produce machines that were sent to CloudHashing.com and then re-sold to other customers at DRASTICALLY inflated prices? (As recently as last week, 1 GH on CloudHashing.com costs about $30. 1 TH would have set you back $30,000 or 5x what CoinTerra sold the 'pre-order' for). It seems to me this is exactly what's happening. I believe CoinTerra is pre-selling units they have absolutely no intention of delivering to customers and then working with CloudHashing.com to re-sell those units a second time for 5x the amount they pre-sold it for. For those customers who complain loud enough, CoinTerra will oh so kindly offer them a refund (good luck with that). If this assertion is true, then CoinTerra has committed massive fraud and should be prosecuted to the fullest extent of the law; both civil and criminal. Here's a step-by-step breakdown: Step 1: CoinTerra Announces a 'Pre-Order' on 2 TH machines for $6,000 (which turn out to only be 1.5 TH machines) Step 2: CoinTerra takes in tens of millions of dollars in 'pre-orders' from unsuspecting customers Step 3: CoinTerra uses the funds to build machines for CloudHashing.com Step 4: CloudHashing.com's TH rate increases from approximately 150 TH/s to 1750 TH/s from late January to mid-March (which is the same timeframe CoinTerra announces it's shipping their product) Step 4: CoinTerra announces TerraMineHosting.com (Powered by CloudHashing.com) Step 5: CloudHashing.com was re-selling those same $6,000 machines for $45,000+ ungodly “management fees”. In January, a GH on CloudHashing.com was around $90, in February it was priced at $30, and now (thanks to competition from reputable cloud mining companies) a GH is around $12. How does it go from $90 to $30 to $12 so damned fast??? It's easy to slash prices 90% if the unit has already been paid for during CoinTerra's 'pre-order' phase. Step 6: After months of delays and volumes of irate customers, CoinTerra is now offering a refund for anyone who bought during the 'pre-order' – This is done in hopes to calm down people who've lost any potential benefit from the “2TH machine” they SHOULD have received. In essence shoving the little guy aside only to provide product for CloudHashing.com and ramp-up their TerraMiningHosting.com business. Step 7: The poor bastards who 'pre-ordered' from CoinTerra are left with two options: 1) take a refund or 2) continue to wait for a machine from which they will never profit. Step 8: The story is now out in the open... Step 9: Let the CoinTerra customers make their own decisions Again, this is my theory, but I think if you dig around you'll reach the same conclusion. Let me know what you think...
People who are interested in hashing and crypto currencies would appreciate the cost-effective solutions of this company. In our review, we will give you all the details. Every expert has a possibility to order 4 different packages offered at this website: they are starter, bronze, silver, and gold. The main difference in them is the energy power you will get for a certain sum of money. What exactly does every package include? Continue reading our review to learn more! As NuVoo bitcoin mining is predominantly used by beginners the prices for the packages are the lowest here:
Starter: 100$ for 527.08 GH/s;
Bronze: 300$ for 1581.25;
Silver: 600$ for 3162.51;
Gold: 1200$ for 6325.03.
Litecoin is a bit more expensive offering customers the following packages:
Starter: 125$ for 15.75 MH/s;
Bronze: 375$ for 47.25;
Silver: 700$ for 94.50;
Gold: 1500$ for 189.00.
The last option is Ethereum. Ethereum is meant for cryptocurrency experts whose ideas bring about great profits on such farms. The cost of the main packages is the following:
Starter: 369.99$ for 10 MH/s;
Bronze: 1109.99$ for 30;
Silver: 2219.99$ for 60;
Gold: 4439.99$ for 120.
That is what you can get here. In addition, all clients get absolutely free energy and maintenance, hash power guarantee and uptime of 99.99%.
Большой обзор: восемь самых доходных ASIC-майнеров криптовалюты
ASIC-майнер – специальное устройство, которое позволяют добывать криптовалюту. В отличие от графических карт (GPU), которые многофункциональны и могут пригодиться еще, например, для компьютерных игр, «асики» - однозадачны, они не могут ничего другого, кроме как майнить криптовалюту. Зато делают это максимально эффективно и обычно мгновенно вытесняют GPU из той сети, криптовалюту которой начинают добывать. Coinlife подготовил обзор самых известных ASIC-майнеров с учетом их доходности и окупаемости. ASIC-майнер, в отличие от GPU, обычно рассчитан на добычу всего 1-6 криптовалют, без возможности резко перестроиться на любую другую валюту, что ограничивает майнера в выборе. Но неоспоримым преимуществом майнинга с помощью ASIC-устройств является его сверхэффективность. Мощность одного устройства сравнима с одновременной работой десятков, а то и сотен GPU. Поэтому с началом выпуском ASIC-майнеров для добычи конкретной криптовалюты, хэшрейт в сети резко возрастает и майнинг с помощью других устройств перестает приносить доход их владельцам. Это особенно заметно в сети биткоин. Добыча главной криптовалюты мира давно выполняется только на «асиках». С них-то мы и начнем свой обзор. SHA-256 Antminer S9 Antminer S9 - самый популярный и эффективный на сегодняшний день ASIC-майнер для добычи биткоина. Производитель– Bitmain (Китай). Компания Bitmain известна, как лидер по производству майнеров для биткоина. Ей принадлежит порядка 70% рынка ASIС-майнеров для BTC. В линейке компании насчитывается уже несколько моделей устройств для добычи самой дорогой цифровой валюты. Самый известный и эффективный на сегодняшний день – Antminer S9. Он работает на алгоритме SHA-256, поэтому с его помощью можно добывать Bitcoin и Bitcoin Cash. Читать еще: Cамый успешный хардфорк биткоина, претендующий на место «первого»: обзор криптовалюты Bitcoin Cash Хэшрейт отличается, в зависимости от партии, и варьируется в диапазоне от 11,5 до 14 TH/s. Энергопотребление также отличается в зависимости от значения хэшрейта: от 1127 Вт до 1372 Вт. Майнер работает на чипе BM1387, в одном устройстве насчитывается 189 чипов. Техпроцесс – 16 nm. Цена устройства от производителя составляет 139 тыс. руб. (2 425 долларов) включая блок питания. Доходность в день примерно равна 10,3 долларам, это 0.001136 BTC (здесь и дальше данные указаны по состоянию на 28.02.2018 г., с учетом стоимости электроэнергии 4,5 руб. за кВт/ч). Окупаемость устройства займет порядка 8 месяцев. Ebit E9 Plus Майнер биткоина от еще одного китайского производителя, пытающегося составить конкуренцию Bitmain, Zhejiang Ebang Communication Co., коротко - Ebit. Устройство также работает на алгоритме SHA-256 и используется для добычи Bitcoin и Bitcoin Cash. Хэшрейт Ebit E9+ равен 9 TH/s при энергопотреблении в 1300 Вт. Работает на трех платах с чипом DW1227 (132 шт.). Техпроцесс – 14 nm. Цена в Москве составляет от 120 тыс. руб. (2,2 тыс. долларов). Доходность в день 5,9 доллара, это 0, 000757 BTC. Окупаемость составляет 12-13 месяцев. Скоро ему на смену придет новый майнер Ebit E10, с хэшрейтом в два раза выше, и с меньшим энергопотреблением. Компания анонсировала выход нового устройства в конце 2017 года. Но отгрузки пока не начались. AvalonMiner 741 Еще одно ASIC-устройство для майнинга биткоина и его самого успешного хардфорка. Производитель Canaan Creative CO., Китай. Работает, соответственно, на алгоритме SHA-256. Хэшрейт составляет 7,3 TH/s. Энергопотребление 1150 Вт. Количество чипов A3212 в одном устройстве - 88 шт. Техпроцесс 16 nm. Майнер работает на двух платах. Стоимость AvalonMiner 741 в Москве примерно равна 170 тыс. руб. (почти 3 тыс. долларов). Доходность в день составляет порядка 6,4 доллара – 0,0008 BTC. Окупаемость такого вложения займет 15 месяцев. X11 DM11G Американский ASIC-майнер криптовалюты Dash. Производитель – iBeLink.co (США). Работает на алгоритме X11. Помимо основной валюты может использоваться для добычи Cannabiscoin (CANN) и Monoeci (XMCC). Хэшрейт 11 GH/s. Энергопотребление скромное 810 Вт. Работает на чипе TNB0303-FL28, в одном устройстве 64 шт. Техпроцесс – 28 nm. Стоит отметить, что данный майнер является одним из самых тяжелых. Вес составляет 22 кг. Цена в Москве сейчас составляет порядка 110 тыс. руб. (1,9 тыс. долларов). Доходность в день – 2,5 доллара, это 0.0066 DASH. Окупаемость 2 года. Antminer D3 Более известный майнер Dash от Bitmain. Работает на алгоритме X11 и кроме Dash может добывать Cannabiscoin (CANN) и Monoeci (XMCC). Хэшрейт превышает показатели предыдущего майнера – 19.3 GH/s. Энергопотребление 1200 Вт. В каждом устройстве по 180 чипов X11. На сайте компании продажа приостановлена на неопределенный срок. В Москве D3 можно купить примерно за 90 тыс. руб. Доходность в день порядка 5 долларов, это 0,0123 DASH. Окупаемость вложений займет меньше времени – 10 месяцев. Scrypt Antminer L3+ Известный майнер Litecoin от китайского гиганта Bitmain. Работает на алгоритме Scrypt, поэтому кроме LTC может майнить Dogecoin (DOGE), Verge-Scrypt (XVG), DGB-Scrypt (DGB), GameCredits (GAME) и Einsteinium (EMC2). Хэшрейт майнера достигает 504 MH/s. Энергопотребление невелико – 800 Вт. Имеет чип BM1485, в одном устройстве таких 288 шт. Техпроцесс 16 nm. На официальном сайте продажи открыты. Цена составляет 1500 долларов США (86 тыс. руб.) вместе с блоком питания. Стоимость оборудования в Москве составляет 150 тыс. руб. В день L3+ приносит 9,3 доллара дохода, это 0,051 LTC. Окупаемость – 10 месяцев, если вы купили оборудование в Москве и 6 месяцев, если вам удалось купить по цене производителя. A6 LTCMaster Майнер Litecoin от другого китайского производителя INNOSILICON Technology Ltd. Набор валюты, которую можно добывать с помощью этого устройства, аналогичен предыдущему. Хэшрейт выше в два раза – 1,23 Gh/s. Энергопотребление, соответственно, тоже заметно отличается и составляет 1500 Вт. Цена производителя составляет – 6,3 тыс долларов США. В Москве устройство можно приобрести за 450 тыс. руб. Доходность в день 23 доллара - 0.1227 LTC. Окупаемость майнера составляет 11 месяцев. Blake (2b) Antminer A3 Новый майнер от уже упоминаемого производителя Bitmain. Выпущен был только в январе 2018 года. Создан для майнинга Siacoin. Bitmain сработал на опережение и создал майнер раньше, чем компания Obelisk – «дочка» Sia. Многие участники сообщества Sia выступили даже за проведение софт-форка сети, который сделал бы невозможным майнинг Siacoin с помощью Antminer A3. Но от этой идеи отказались и оба производителя пришли к соглашению о совместной работе по развитию сообщества SIA. Читать еще: Siacoin получил из Китая импульс к развитию: обзор криптовалюты Майнер работает на алгоритме Blake (2b). Хэшрейт равен 815 MH/s. Энергопотребление составляет 1275 Вт. Количество чипов BM1720 в одном устройстве – 180 шт. Техпроцесс 16 nm. Цена на сайте производителя указана в долларах – 2,37 тыс., в Москве новое устройство обойдется в 240 тыс. руб. Доходность составляет 37,7 долларов в день, 1,8 тыс. Siacoin. Окупаемость одного устройства по данным на момент публикации составляет всего 2 месяца. Но с учетом роста хэшрейта, ситуация совсем скоро может измениться. В наш обзор ASIC-майнеров вошли самые известные и доходные устройства. Рынок ASIC-майнеров гораздо шире, разнообразнее. Конкуренция велика. На 2018 год запланирован выпуск сразу нескольких новых моделей оборудования для майнинга криптовалют. Ожидается выход на рынок устройств от Samsung, корпорация намерена наладить выпуск чипов для ASIC-майнеров. Добытчики биткоина с нетерпением ждут новинки от Bitmain, которая придет на смену Antminer S9.
Данный материал не является коммерческим справочным ресурсом, поэтому его не следует воспринимать как рекомендацию. Представленная информация не должна интерпретироваться как совет по выбору устройства. Помните, ваши инвестиции в майнинг криптовалюты – зона вашей ответственности. Если вам нужна консультация такого рода, Coinlife настоятельно рекомендует обратиться к квалифицированным специалистам.
Looking @ the HashFast Baby Jet 400 GH/s or 800 GH/s (Worth Buying?)
So I'm new to whole bitcoin mining thing and have a question or two... I'm just wondering if this would be a good investment for me..? The is system is going for approx $2500 USD... I won't need to pay any electricity costs... I'm curious of this would be a possible profitable solution... its also an option to upgrade to the 800 GH/s for an additional $1500.. I've checked out a couple of different profit calculators but, they seem to have very different results, or I am just entering in the wrong information... I would love to get some solid info before I jump in with both feet.. Thanks! :))
06-02 12:46 - 'Big Profits Investment 1500% ROI after one hour' (self.Bitcoin) by /u/perfectmoneyorg removed from /r/Bitcoin within 17-22min
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03-29 20:41 - 'Signed up on what I thought was a ponzi scheme site. You'll never guess what happened next...' (self.Bitcoin) by /u/BitcoinsBitch removed from /r/Bitcoin within 13-18min
''' So a few months ago, I signed up on a site called cldmine.com . It is a cloud mining site in which the 'speed power' is not calculated by GH/s or Mh/s. Instead it is just called 1 CLD. 1 CLD = about 3 GH/s. They promised up to 1% daily upon your investment, and I knew this was a scam because it was too good to be true. They offered 1500 dogecoins for signup to start mining, so i did. After 1 months of mining (i totally forgot about it) I went back to the site and saw I had enough dogecoins to withdraw! I withdrew the money to my wallet and BAM! it was there. Could it be that this site wasn't a scam? I tried it out... I deposited about $140 ( I was making $1-$1.10 per day) . Now, 4 months later, I have 748.3 CLD and I am making $4.50 - $5.50 per day! It turns out this site wasn't a scam... If you want to join, here is the link: [link]1 ''' Signed up on what I thought was a ponzi scheme site. You'll never guess what happened next... Go1dfish undelete link unreddit undelete link Author: BitcoinsBitch 1: *ww.cldm*ne**om/ Unknown links are censored to prevent spreading illicit content.
I ordered a Butterfly Labs Jalapeno ASIC miner last June and it finally arrived today. With today's Bitcoin valuation (1 BTC = $125), this miner will generate about $800 a month. Looking on eBay, pre-order BFL 5 GH/s miners are selling for over $1000. There's an immediate delivery 5 GH/s ASIC miner that sold for $3000. 1 GH/s FPGA miners have sold for $1500 (ModMiner Quad). If people are paying $1500 for 1 GH/s, then 5 GH/s should be worth $7500. What's my miner worth? One sold for $3000. Extrapolating the FGPA miner, it could be worth as high as $7500. Should I sell the miner, or use it to mine? Difficulty is only going to increase, especially once ASIC miner shipping ramps up.
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