New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v220.127.116.11 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v18.104.22.168 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v22.214.171.124 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v126.96.36.199 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v188.8.131.52 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
Hey shibes, I see a lot of posts about mining lately and questions about the core wallet and how to mine with it, so here are some facts! Feel free to add information to that thread or correct me if I did any mistake.
You downloaded the core wallet
Great! After a decade it probably synced and now you are wondering how to get coins? Bad news: You don't get coins by running your wallet, even running it as a full node. Check what a full node is here. Maybe you thought so, because you saw a very old screenshot of a wallet, like this (Version 1.2). This version had a "Dig" tab where you can enter your mining configuration. The current version doesn't have this anymore, probably because it doesn't make sense anymore.
You downloaded a GPU/CPU miner
Nice! You did it, even your antivirus system probably went postal and you started covering all your webcams... But here is the bad news again: Since people are using ASIC miners, you just can't compete with your CPU hardware anymore. Even with your more advanced GPU you will have a hard time. The hashrate is too high for a desktop PC to compete with them. The blocks should be mined every 1 minute (or so) and that's causing the difficulty to go up - and we are out... So definitly check what is your hashrate while you are mining, you would need about 1.5 MH/s to make 1 Doge in 24 hours!
Let us start with a quote:
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain." - langerhans
What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!
Mining solo versus pool
So let's face it - mining solo won't get you anywhere, so let's mine on a pool! If you have a really bad Hashrate, please consider that: Often you need about $1 or $2 worth of crypto to receive a payout (without fees). This means, you have to get there. With 100 MH/s on prohashing, it takes about 6 days, running 24/7 to get to that threshold. Now you can do the math... 1 MH/s = 1000 KH/s, if you are below 1 MH/s, you probably won't have fun.
Buying an ASIC
You found an old BTC USB-miner with 24 GH/s (1 GH/s = 1000 MH/s) for $80 bucks - next stop lambo!? Sorry, bad news again, this hashrate is for SHA-256! If you want to mine LTC/Doge you will need a miner using scrypt with quite lower numbers on the hashrate per second, so don't fall for that. Often when you have a big miner (= also loud), you get more Hashrate per $ spent on the miner, but most will still run on a operational loss, because the electricity is too expensive and the miners will be outdated soon again. Leading me to my next point...
You won't make money running your miner. Just do the math: What if you would have bougth a miner 1 year ago? Substract costs for electricity and then compare to: What if you just have bought coins. In most cases you would have a greater profit by just buying coins, maybe even with a "stable" coin like Doges.
Okay, this was a lot of text and you are still on the hook? Maybe you are desperated enough to invest in some cloud mining contract... But this isn't a good idea either, because most of such contracts are scams based on a ponzi scheme. You often can spot them easy, because they guarantee way to high profits, or they fake payouts that never happened, etc. Just a thought: If someone in a subway says to you: Give me $1 and lets meet in one year, right here and I give you $54,211,841, you wouldn't trust him and if some mining contract says they will give you 5% a day it is basically the same. Also rember the merged mining part. Nobody would offer you to mine Doges, they would offer you to buy a hashrate for scrypt that will apply on multiple chains.
Maybe try to mine a coin where you don't have ASICs yet, like Monero and exchange them to Doge. If somebody already tried this - feel free to add your thoughts!
Folding at Home (Doge)
Some people say folding at home (FAH - https://www.dogecoinfah.com/) still the best. I just installed the tool and it says I would make 69.852 points a day, running on medium power what equates to 8 Doges. It is easy, it was fun, but it isn't much. Thanks for reading _nformant
I earned about 4000% more btc with my android tablet than with a $250 ASIC mini rig setup using GekkoScience Newpac USB miners!
Requirements: 1.) Android Device with access to Google Play Store. *I haven't tried yet but you may be able to use tis on Android TV devces as well by sideloading. If anyone has success before I try, let me know! -Note, I did this with a Samsung Galaxy Tab S6 so its a newer more powerful device. If your android is older, your profts will most likely be less than what I earned but to give a projected range I also tested on my Raspberry Pi 4 running a custom LineageOS rom that doesn't allow the OS to make full use of the Pi's specs and I still got 500 h/s on that with Cloud boost, so about 60% of what my Tab 6 with MUCH Higher Specs does. **Hey guys. Before I get started i just wanted to be clear about one thing. Yes I have seen those scammy posts sharing "miracle" boosts and fixes. I have a hard time believing stuff online anymore. But this is honestly real. Ill attach photos and explain the whole story and process below. Thanks for taking the time to read and feel free to share any thoughts, concerns, tips, etc* So last week I finally got started with my first mini rig type mining build. I started getting into crypto about a year ago and it has taken me a long time to even grasp half of the projects out there but its been fun thus far! Anyways my rig was 2 GekkoScience Newpac USB miners, a Moonlander USB miner to pair with an FPGA i already had mining, a 10 port 60W 3.0 USB hub and 2 usb fans. The Newpacs actually are hashing at a combined 280 g/s which is actually better than their reported max hash rate when overclocked. Pleasant surpise and they are simple!! I just wanted to get a moonlander because my fpga already mines on Odocrypt for DGB and I just wanted to experience Scrypt mining and help build the DGB project. The Newpacs are mining BTC though. After I got everything up and running i checked my payout daily average after 1 week. I averaged .01 a day TOTAL between all three miners with them all perforing ABOVE SPEC!!! I had done research so i knew I wouldnt earn much. More than anything i just wanted to learn. But still. I was kinda surprised in a negative way. Yesterday I actually earned less than .01 Frustrated I went back to scouring the web for new ideas. About a year ago, when II was starting, I saw an app on my iphone called CryptoBrowser that claimed to mine btc on your phone without actually using phone resources using a method of cloud mining. I tried it for a week and quit because I earned like .03 after a ton of use and seemed scammy. Plus my iphone actually would get very hot when doing this so I quit using it as it seemed like a possible scam with all the cryptonight browser mining hacks and malware out there. Anyways I was on my Galaxy Tab S6 and saw that CryptoBrowser released a "PRO" edition for 3.99 on Google Play. I bought it for Sh*ts and giggles and booted it up. It came with what they called "Cloud Boost" Essentially this is a button you press and it multiplys the estimated hashrate that it gives you device by the number shown on the boost button. (With the purchase of PRO you get one free x10 boost. You can purchase additional boosts to use with other android devices but those are actually pretty pricy. Another x10 boost was like $25 if i remember correctly). I played with it for about an hour to see if it actually worked like it said it would this time. To my surprise, as i was browsing, my device didnt increase in temperature AT ALL!!!!! I checked my tast manager to confirm and it was indeed true, my memory and usage barely went up. it was giving me an estimated range of 80-105 on the hashrate. Once i pushed the x10 boost button, that went to 800-1150 h/s. I switched my screen to not go to sleep, plugged it to the charge and let it run on the browser page, hashing. When you push the boost button, it runs for 3 hours at the boosted speeds. After that it goes back to normal but if you press the button again, it boosts everything again. There is no limit to how many times you use it. After checking what I earned after 24 hours, I HAD MADE .40 in BTC!!!!! I JUST EARNED OVER 4000% MORE THAN MY $280 MINING RIG EARNED ME!!!! I was blown away. Maybe this was a fluke? I did it again next day. Every 3 hours or so I would push the button again but thats all. Sure enough, .35 that day. Also, it realy BTC. I requested a payout and although it took like 12 hours for them to send me an email stating they had just sent it, I actually did recieve the state amount of BTC within 24 hours in my personal wallet. The fees to send are SUPER LOW!. Like .01 Below I will list the steps I took, along with an explanation of thier "Mining" process on Androids. Reminder, this ONLY WORKS ON ANDROIDS. Also DO NOT use cryptobrowser on a physcal laptop or desktop. I ran it on an old laptop for three days last year and it fried it. It does actually use your hardware on those platforms to mine and it is not efficnet at all as I suspect they prob steal over half of your power for themselves using the REAL RandomX protocol via browser mining which is EXTREMELY INEFFICIENT DONT TRY IT!! -----How To Do This Yourself: Cryptotab Browser states the program works on Android devices by estimating what it thinks the hashrate would be for your device specs and siimulates what you would mine in a remote server however you still earn that estimated coin amount. It is not a SHA-256 process or coin that they say is mining, rather it is XMR and they swap that and pay it out to you in BTC Bitcoin. However I know damn well my Tab S6 doesnt hash 80-105 h/s on RandomX because I have done it with a moodified XMRig module i ported to Android. I got 5 h/s a sec if I was getting any hashes at all. But thats besides the point as I still was making money. Now, when you press that cloud boost button it immediately boosts that hash rate it estimates by the number on the cloud boost. As stated above, you can purchase more boosts and gift them or use them on extra android devices that you may have. Again, they are pricey so I'm not doing that plus it would just mean that I have another device that I have to leave on and open. The boosts come in x2, x4, x6, x8 and x10 variants. Again, they have unlimited uses. Here is the link to grab yourself CryptoBrowser Pro from CryptoTab. This IS A REFERRAL LINK! This is where I benefit from doing tis tutorial. Like i said, I want to be transparent as this is not a scam but I'm also not doing this out of the love of my heart. Their referral system works in that people that use the donwload the app using your link are your stage 1 referrals. Anytime they are mining, you earn a 15% bonus. So say they mine $.30 one day. You would get paid out an additional $.045 in your own balance (it does not come out of the referred user balance fyi so no worries). Then lets say that referred miner also gets their own referrals. I would get a 10% bonus on whatever THOSE people mine. This goes on and on for like 8 tiers. Each tier the bonus percntage essential halves. So again, I stand to benefit from this but it also is stupid to not make this visible as its WAY CHEAPER, EASIER AND MORE PROFITABLE TO GET BTC USING THIS METHOD THAN IT IS USING ASICS!! THIS EARNS ALMOST AS MUCH BTC AS AN ANTMINER S7 DOES RUNNING 24/7 ONLY WITHOUT THE HUGE ELLECTRICTY BILL AND COSTS!!!!) Thats it. Again, if you have concerns, let me know or if you have suggestions, other tips, etc... mention those as well!!! https://cryptotabbrowser.com/8557319 Links to Picture Proof http://imgur.com/gallery/P13bEsB
So, from around 2010 to 2014 I used to mess around with mining Bitcoin. I started with CPU mining then bought a dozen of those usb asic miners then acquired a couple blade miners. My backup was to have multiple copies of my Core wallet so I wouldn't lose the coins. My failure was to keep multiple copies of the password. I used KeePass to store my password. Long story short, the KeePass database appears to be lost forever. I only know that the password is 32 characters long. By examining passwords generated by the software I can assume that it only contains no more than 3 of each characters and no two characters repeat simultaneously. It could contain upper case, lower case, and special characters. With my video card I can only brute force 5000 passwords per second. At today's bitcoin price it is not practical to invest in more computing power but someday for my kids it could be worth it. Right now it is just a project I am working on because these challenges intrigue me. I assume with a 12 GPU mining rig I could get more than 60,000 passwords per second but it would still be a matter of luck to crack it before I die. ...and go
When was AsicVault established and how is it funded? AsicVault was established 2016. It is funded by founders and corporate investors. Please see Crunchbase. How can it be 1,000 times harder to crack compared to other BIP-39 hardware wallets? BIP-39 hardware wallets are working on very low performance microcontrollers or secure elements. They are doing only 2,048 iterations of PBKDF2 SHA-512 that is even less than old NIST recommendation of 10,000 rounds from year 2016. Performing higher number of PBKDF2 SHA-512 is standard practice for good security. iTunes does it, LastPass does it and Veracrypt as well. Even Ledger agrees that this very low number is the main problem of BIP-39. AsicVault specially designed SHA-512 accelerator inside high performance secure chip is at least 340 times faster than common microcontrollers. The number of PBKDF2 SHA-512 rounds is set to be exactly 1,000 times higher than BIP-39, hence the cost to crack AsicVault is also 1,000 times bigger. Please read in-depth teardown review and validation of AsicVault SHA-512 performance here. You can perform independent analysis according to this PDF and our device performance is shown on this video. Does it support BIP-39 passphrase? Yes, AsicVault supports all standard BIP-39 seed words and additional passphrase (so-called 25th word). You can restore your HD wallet account created by other hardware wallets (Ledger, Trezor, Keepkey) without any additional steps. AsicVault always opens standard security BIP-39 account and high security BIP-39 accounts at the same time. Why two processors? Common design practice, also followed by Ledger, is to separate secure and non-secure code. Our advantage is that these two RISC-V processors are inside a single secure chip. This way the Security CPU has full access to the Application CPU RAM. This makes it possible to do proper secure boot. Why RISC-V? Open instruction set. Possibility to have open source CPU and extensions. We have already implemented several custom instructions. Do I need a computer to initialize the device? No. You can supply power from wall adapter or battery bank. AsicVault supports true air-gapped environment. You can perform full device initialization, seed word generation and seed word backup without connection to the computer. You can also charge the device and check the status the same way. Can I use USB extender cables? Certified USB2.0 extender cables can be used. We don’t recommend extender cables while using USB3.1 features of the device. The device can detect (some) bad cables and show warning messages about them. It is not recommended to use cables/extenders longer than 2.5m. In any case, cables with lower AWG value are better, such as AWG20. How hot does the device get? During normal operation AsicVault device temperature reaches 35-37C. High speed USB3.0 operation adds additional 7C. AsicVault utilizes full Aluminum enclosure as an effective heatsink. Internal chips can tolerate up to +85C, so you never need to worry about them overheating. There are no Lithium batteries inside the device that are known for leaking and not tolerating high temperatures. How long does the active anti-tamper system work? Active anti-tamper protects your device at least 2 weeks, possibly up to 45 days, after you have fully charged the device. It takes just 15 minutes to charge the supercapacitors again. It is advisable to connect the device to a power source at least once per week. Different anti-tamper settings affect the anti-tamper aggressiveness, sensitivity and power consumption. It is also good practice to enter your passphrase weekly so that you will not forget it. How often can I charge it? Do the batteries age? You can charge it as often as you like, several times per day. Supercapacitors can be charged 50,000 – 1,000,000 times during their lifetime compared to common Lithium batteries that only allow 500-1,000 times. Therefore even 10 times per day for 10 years should be fine. At least weekly charging is recommended for best anti-tamper protection. How long are private keys safely stored inside device before the memory gets weak and they are lost? Data retention time of Flash memory inside the main chip is 20 years. Additional encryption keys stored inside FRAM can last for 40 years at temperatures below 70C. These values are higher than the expected lifetime of the device. In any case you must make paper backup(s) of your seed words. Can it store the whole Bitcoin blockchain inside the device? No. The device is not designed to store large amounts of data. Internal 128-megabyte Flash is used to store applications. There are thousands of copies of the blockchain, storing yet another copy is not meaningful or necessary. What is FIPS 140-2 highest Level 4? FIPS 140-2 is Federal Information Processing Standard. Level 4 requires that:
physical security mechanisms provide a complete envelope of protection around the cryptographic module
with the intent of detecting and responding to all unauthorized attempts at physical access
Penetration of the cryptographic module enclosure from any direction has a very high probability of being detected, resulting in the immediate deletion of all plaintext CSPs
Security Level 4 also protects a cryptographic module against a security compromise due to environmental conditions or fluctuations outside of the module's normal operating ranges for voltage and temperature
A cryptographic module is required to include special environmental protection features designed to detect fluctuations and delete CSPs
We have used these guidelines while designing AsicVault. We meet and exceed the requirements in the following way:
AsicVault has full Aluminium/Titanium enclosure that is not designed to be opened. Passive antitamper mesh protects the electronic circuits inside the device. Main secure chip also has chip level metal layer anti-tamper mesh.
Active anti-tamper circuit monitors all intrusion attempts and performs immediate device zeroization upon detecting any such attempts.
AsicVault has temperature, voltage and many other sensors that are continuously monitored by the anti-tamper circuit. Additionally, AsicVault has internal supercapacitor-based power reserve to run Elliptic Curve calculations and other cryptographic functions. Therefore, external voltage fluctuations can’t affect our device while performing these critical operations.
Zeroization not only deletes the private keys, it also destroys internal hardware design making it impossible to perform any further analysis of the hardware.
AsicVault has not participated in formal Cryptographic Module Validation Program since we are not targeting US government users at this point. Can AsicVault device run Linux? It is not our priority to run Linux since it has too big overhead for hardware wallet. However, our RISC-V processors and Mark II hardware can run Linux for your custom projects. Where can I purchase the device? Please contact your local supplier about availability.
Final version 1.3.0 of the core software was released bringing all the enhancements reported last month to the rest of the community. The groundwork for SPV (simplified payment verification) is complete, another reduction of fees is being deployed, and performance stepped up once again with a 50% reduction in startup time, 20% increased sync speed and more than 3x faster peer delivery of block headers (a key update for SPV). Decrediton's integrations of SPV and Politeia are open for testing by experienced users. Read the full release notes and get the downloads on GitHub. As always, don't forget to verify signatures. dcrd: completed several steps towards multipeer downloads, improved introduction to the software in the main README, continued porting cleanups and refactoring from upstream btcd. Currently in review are initial release of smart fee estimator and a change to UTXO set semantics. The latter is a large and important change that provides simpler handling, and resolves various issues with the previous approach. A lot of testing and careful review is needed so help is welcome. Educational series for new Decred developers by @matheusd added two episodes: 02 Simnet Setup shows how to automate simnet management with tmux and 03 Miner Reward Invalidation explains block validity rules. Finally, a pull request template with a list of checks was added to help guide the contributors to dcrd. dcrwallet: bugfixes and RPC improvements to support desktop and mobile wallets. Developers are welcome to comment on this idea to derive stakepool keys from the HD wallet seed. This would eliminate the need to backup and restore redeem scripts, thus greatly improving wallet UX. (missed in July issue) Decrediton: bugfixes, refactoring to make the sync process more robust, new loading animations, design polishing. Politeia: multiple improvements to the CLI client (security conscious users with more funds at risk might prefer CLI) and security hardening. A feature to deprecate or timeout proposals was identified as necessary for initial release and the work started. A privacy enhancement to not leak metadata of ticket holders was merged. Android: update from @collins: "Second test release for dcrandroid is out. Major bugs have been fixed since last test. Latest code from SPV sync has been integrated. Once again, bug reports are welcome and issues can be opened on GitHub". Ask in #dev room for the APK to join testing. A new security page was added that allows one to validate addresses and to sign/verify messages, similar to Decrediton's Security Center. Work on translations is beginning. Overall the app is quite stable and accepting more testers. Next milestone is getting the test app on the app store. iOS: the app started accepting testers last week. @macsleven: "the test version of Decred Wallet for iOS is available, we have a link for installing the app but the builds currently require your UDID. Contact either @macsleven or @raedah with your UDID if you would like to help test.". Nearest goal is to make the app crash free. Both mobile apps received new design themes. dcrdata: v3.0 was released for mainnet! Highlights: charts, "merged debits" view, agendas page, Insight API support, side chain tracking, Go 1.11 support with module builds, numerous backend improvements. Full release notes here. This release featured 9 contributors and development lead @chappjc noted: "This collaboration with @raedahgroup on our own block explorer and web API for @decredproject has been super productive.". Up next is supporting dynamic page widths site wide and deploying new visual blocks home page. Trezor: proof of concept implementation for Trezor Model T firmware is in the works (previous work was for Model One). Ticket splitting: updated to use Go modules and added simnet support, several fixes. docs: beginner's guide overhaul, multiple fixes and cleanups. decred.org: added 3rd party wallets, removed inactive PoW pools and removed web wallet. @Richard-Red is building a curated list of Decred-related GitHub repositories. Welcome to new people contributing for the first time: @klebe, @s_ben, @victorguedes, and PrimeDominus! Dev activity stats for September: 219 active PRs, 197 commits, 28.7k added and 18.8k deleted lines spread across 6 repositories. Contributions came from 4-10 developers per repository. (chart)
Hashrate: started and ended the month around 75 PH/s, hitting a low of 60.5 and a new high of 110 PH/s. BeePool is again the leader with their share varying between 23-54%, followed by F2Pool 13-30%, Coinmine 4-6% and Luxor 3-5%. As in previous months, there were multiple spikes of unidentified hashrate. Staking: 30-day average ticket price is 98 DCR (+2.4). The price varied between 95.7 and 101.9 DCR. Locked DCR amount was 3.86-3.96 million DCR, or 45.7-46.5% of the supply. Nodes: there are 201 public listening nodes and 325 normal nodes per dcred.eu. Version distribution: 5% are v1.4.0(pre) dev builds (+3%), 30% on v1.3.0 (+25%), 42% on v1.2.0 (-20%), 15% on v1.1.2 (-7%), 6% on v1.1.0. More than 76% of nodes run v1.2.0 and higher and therefore support client filters. Data as of Oct 1.
Obelisk posted two updates on their mailing list. 70% of Batch 1 units are shipped, an extensive user guide is available, Obelisk Scanner application was released that allows one to automatically update firmware. First firmware update was released and bumped SC1 hashrate by 10-20%, added new pools and fixed multiple bugs. Next update will focus on DCR1. It is worth a special mention that the firmware source code is now open! Let us hope more manufacturers will follow this example. A few details about Whatsminer surfaced this month. The manufacturer is MicroBT, also known as Bitwei and commonly misspelled as Bitewei. Pangolinminer is a reseller, and the model name is Whatsminer D1. Bitmain has finally entered Decred ASIC space with their Antminer DR3. Hash rate is 7.8 TH/s while pulling 1410 W, at the price of $673. These specs mean it has the best GH/W and GH/USD of currently sold miners until the Whatsminer or others come out, although its GH/USD of 11.6 already competes with Whatsminer's 10.5. Discussed on Reddit and bitcointalk, unboxing video here.
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)
KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks. Three more wallets integrated Decred in September:
Atomic desktop wallet added Decred in version 0.1.31. The team answered many questions on Reddit.
AnyBit wallet added Decred. It features built-in price and news tracking. Notably, the source code is open for their Android and iOS wallets.
Coboadded Decred support into their Android and iOS wallets.
ChangeNow announced Decred addition to their Android app that allows accountless swaps between 150+ assets. Coinbase launched informational asset pages for top 50 coins by market cap, including Decred. First the pages started showing in the Coinbase app for a small group of testers, and later the web price dashboard went live.
The birth of a Brazilian girl was registered on the Decred blockchain using OriginalMy, a blockchain proof of authenticity services provider. Read the full story in Portuguese and in English.
Advertising report for September is ready. Next month the graphics for all the ads will be changing.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed. Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)
Raedah Group went on the streets of Portland, USA with a pretty blue tent. (photos)
Meetup at Binzantin Cafe in Taipei, Taiwan. @morphymore: "There were 20-ish attendees, and about half of them have joined the Chinese FB group. Most of them don't hear about Decred before, but have expressed the interest in learning more about it after the event. Overall, it's a good exposure for Decred in the Taiwan community.". A report with photos was posted on Facebook, more photos are here and here.
@joshuam made a Decred Jacket appearance at Singapore Grand Prix. (photos)
NewTech PDX meetup in Portland, USA. Raedah Group presented Decred and reported "lots of new converts". (photos)
North Shore Bitcoin & Blockchain in Glenview, USA. @dustorf gave a five minute overview of Decred and noted: "There were only about 25 people, but about 1/3 of them were aware of Decred prior. (...) Our simple presence and explanation of the project moved opinion from 'another shitcoin they sold after mining' to 'an interesting and viable project worthy of further investigation'.". (photos: 12)
Bitcoin Meetup CDMX in Mexico City on Oct 6. @elian will be talking about Decred at the oldest Bitcoin meetup in Mexico.
SF Blockchain Week in San Francisco, USA on Oct 9. @lukebp will discuss DPoS vs PoS on a panel 9:30a-10:15a at the Titans of Tech Stage, Hilton Union Square.
Decred Meetup in Casablanca, Morocco on Oct 27. @butterfly will host the event and talk about Decred in French.
Texas Bitcoin Conference Austin, USA on Oct 27-28. @BAB: "The great thing about this is that it will also be a Decred Summit. We will have half of the conference dedicated to Decred topics, updates, etc."
Websummit in Lisbon, Portugal on Nov 5-8. @moo31337 will be on a panel discussing "2018: A Rollercoaster Year for Cryptocurrencies"
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)
August issue of Decred Journal was translated to Russian. Many thanks to @DZ! Rency cryptocurrency ratings published a report on Decred and incorporated a lot of feedback from the community on Reddit. September issue of Chinese CCID ratings was published (snapshot), Decred is still at the bottom. Videos:
The underbelly of blockchain Governance - fiat licensing and our code with Marco Peerboom and Chris DeRose (youtube, tweet, decred, missed in August issue) Insightful dialogue about men's underwear, licenses, subtleties of GPL, BSD wars, tiling window managers and much more.
Introduction to Decred (Korean, youtube) @Killawhale collected a lot of feedback from the community and produced this video to spread the word in Korea.
Perspectives on Governance from Nathan Wilcox, Jonathan Zeppettini, Vitalik Buterin (z.cash)
Decred - an example of governance (Portuguese, youtube)
Decred, the crypto that wants to compete with Bitcoin (French, youtube)
Exodus.io Live with Marco from Decred! (youtube) Marco joins Exodus.io to discuss what makes DCR an asset that will stand the test of time.
Building Decred With Systems Development Lead Marco Peereboom - Governance, Politeia, Lightning (youtube) Topics: early days, Politeia, the structure of Decred, dcrtime, Lightning Network, attracting users and developers, future plans (DEX, Schnorr signatures, privacy, DAEs).
Decentralized autonomous funding of blockchain projects by @Richard-Red (medium, discussion on decred and dashpay)
The trouble with infrastructure, "thin" protocols in particular, is that someone has to build them at a cost. e.g. LN takes a ton of work, doesn't necessarily generate value itself, but it magnifies the value of BTC or whatever coin that uses it. I see the DEX in a similar light - whoever creates it is not going to make a bunch of money from it, but it will magnify the value of the underlying asset(s) that end up having a deep order book on the DEX. (@jy-p in #dex)
Twitter: why decentralized governance and funding are necessary for network survival and the power of controlling the narrative; learning about governance more broadly by watching its evolution in cryptocurrency space, importance of community consensus and communications infrastructure. Reddit: yet another strong pitch by @solar; question about buyer protections; dcrtime internals; a proposal to sponsor hoodies in the University of Cape Town; Lightning Network support for altcoins. Chats: skills to operate a stakepool; voting details: 2 of 3 votes can approve a block, what votes really approve are regular tx, etc; scriptless script atomic swaps using Schnorr adaptor signatures; dev dashboard, choosing work, people do best when working on what interests them most; opportunities for governments and enterprise for anchoring legal data to blockchain; terminology: DAO vs DAE; human-friendly payments, sharing xpub vs payment protocols; funding btcsuite development; Politeia vote types: approval vote, sentiment vote and a defund vote, also linking proposals and financial statements; algo trading and programming languages (yes, on #trading!); alternative implementation, C/C++/Go/Rust; HFTs, algo trading, fake volume and slippage; offline wallets, usb/write-only media/optical scanners vs auditing traffic between dcrd and dcrwallet; Proof of Activity did not inspire Decred but spurred Decred to get moving, Wikipedia page hurdles; how stakeholders could veto blocks; how many votes are needed to approve a proposal; why Decrediton uses Electron; CVE-2018-17144 and over-dependence on single Bitcoin implementation, btcsuite, fuzz testing; tracking proposal progress after voting and funding; why the wallet does not store the seed at all; power connectors, electricity, wiring and fire safety; reasonable spendings from project fund; ways to measure sync progress better than block height; using Politeia without email address; concurrency in Go, locks vs channels. #support is not often mentioned, but it must be noted that every day on this channel people get high quality support. (@bee: To my surprise, even those poor souls running Windows 10. My greatest respect to the support team!)
In September DCR was trading in the range of USD 34-45 / BTC 0.0054-0.0063. On Sep 6, DCR revisited the bottom of USD 34 / BTC 0.0054 when BTC quickly dropped from USD 7,300 to 6,400. On Sep 14, a small price rise coincided with both the start of KuCoin trading and hashrate spike to 104 PH/s. Looking at coinmarketcap charts, the trading volume is a bit lower than in July and August. As of Oct 4, Decred is #18 by the number of daily transactions with 3,200 tx, and #9 by the USD value of daily issuance with $230k. (source: onchainfx) Interesting observation by @ImacallyouJawdy: while we sit at 2018 price lows the amount locked in tickets is testing 2018 high.
ASIC for Lyra2REv2 was spotted on the web. Vertcoin team is preparing a new PoW algorithm. This would be the 3rd fork after two previous forks to change the algorithm in 2014 and 2015. A report titled The Positive Externalities of Bitcoin Mining discusses the benefits of PoW mining that are often overlooked by the critics of its energy use. A Brief Study of Cryptonetwork Forks by Alex Evans of Placeholder studies the behavior of users, developers and miners after the fork, and makes the cases that it is hard for child chains to attract users and developers from their parent chains. New research on private atomic swaps: the paper "Anonymous Atomic Swaps Using Homomorphic Hashing" attempts to break the public link between two transactions. (bitcointalk, decred) On Sep 18 Poloniex announced delisting of 8 more assets. That day they took a 12-80% dive showing their dependence on this one exchange. Circle introduced USDC markets on Poloniex: "USDC is a fully collateralized US dollar stablecoin using the ERC-20 standard that provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors.". Coinbase announced new asset listing process and is accepting submissions on their listing portal. (decred) The New York State Office of the Attorney General posted a study of 13 exchanges that contains many insights. A critical vulnerability was discovered and fixed in Bitcoin Core. Few days later a full disclosure was posted revealing the severity of the bug. In a bitcointalk thread btcd was called 'amateur' despite not being vulnerable, and some Core developers voiced their concerns about multiple implementations. The Bitcoin Unlimited developer who found the bug shared his perspective in a blog post. Decred's vision so far is that more full node implementations is a strength, just like for any Internet protocol.
About This Issue
This is the 6th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. 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. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack. Contributions are also welcome: some areas are adding content, pre-release review or translations to other languages. Credits (Slack names, alphabetical order): bee, Dustorf, jz, Haon, oregonisaac, raedah and Richard-Red.
How do you keep the bitcoin wallet on a flash drive when the program is currently over 20 GB in size? Do you need a giant flash drive or...what? And is keeping your wallet out of reach of the internet a sure fire way to keep it from getting hacked, or is there another way to get the info? Secondly, a question about LiteCoin- originally posted to bitcointalk: I recently took an interest in mining but the standard Bitcoin profit calculators told me the sad news: that my PC would produce such a pitiful number of coins (like $20 worth a year, even with some simple gear) that it wasn't worth it (especially when considering electricity costs). But I happened upon a litecoin calculator and put in the same values (20 GHs/s, current difficulty, my computer's wattage, power costs, etc.) and the calc told me I could mine around $500k worth of LiteCoin (after exchanging to BTC then to USD at the current rates). I'm assuming something's very off. Here's the calculator: http://www.coinwarz.com/calculators/litecoin-mining-calculator I'd be getting two Butterfly Labs 10 GH/s USB blocks ($50 each) and run my AMD Radeon 7700 GPU for a little more. I have a 250 watt PC and power's about 0.12 a kW. What's broken here, or can I really get rich on this alt currency?
From everything I've read, this shouldn't be working... But it is. I have 4 ASIC BlockErupters running in bfgminer, and my two 7870s hashing away with GuiMiner-scrypt. When all is said and done, I'm hashing ~1.33 gh/s through BitMinter with the USBs WHILE still mining Litecoin ~625 kh/s. Did I just luck out with everything playing nice? I currently have my both my Wallets (LTC/BTC) turned off, but I'm not getting rejected shares from either of my pools. http://imgur.com/ngJAXbt
Hi, I am looking into mining cryptocurrency right now because i am interested. The recent gain of value in bitcoin hit my attention like probably everyone here :-) I have heard of methods to mine especially with NiceHash Miner 2 (using computers, easy way) and an ASIC device such Antminer S7 (Look advanced to me). I already know there is a cost in electricity and such. However there are parts missing from my research and the whole puzzle.. My goal is not to make a tons of cash, i just want to explore the world of cryptocurrency and if possible get back my investment. I know there is an hardware investment but that not a problem for me especially since i might need a new computer anyway, however i might prefer to go the ASIC way if its better and that why i am here. I have some questions... 1- Do the ASIC device such Antminer S7 do exactly the same thing that NiceHash Miner 2 ? Can Antminer S7 mine other cryptocurrencies than Bitcoin ? 2- There is a calculator on NiceHash Miner 2 website. How much this thing is accurate ? Do you really can make a profit based on this calculator numbers ? 3- I keep earing you get less profits if the difficulty raise. The difficulty will raise over time. What this really mean exactly ? In my understanding, NiceHash seem to mine from most profitable cryptocurrencies. Do that only affect Bitcoins or this can also affect other cyptocurrencies ? Do that effect is mitigated using NiceHash ? 4- Question about the wallet. How easy it is to convert the crypto currency into real cash ? 5- For storage do you recommand using a physical USB device instead ? Do cryptocurrencies take a lots of place or bandwidth ? 6- Knowing i need a new computer soon... should i invest in a new computer to mine using NiceHash Miner 2 in order to buy back my investment in a year ? or should i try invest in a S7 Antminer ? I could aswell just invest in bitcoin however i am not so sure that would be fun or the profit would be better in the long run. From your experience so far, which way should i try ? Thanks a lots!
https://preview.redd.it/5r9soz2ltq421.jpg?width=268&format=pjpg&auto=webp&s=6a89685f735b53ec1573eefe08c8646970de8124 What is Bitcoin? Bitcoin is an experimental system of transfer and verification of property based on a network of peer to peer without any central authority. The initial application and the main innovation of the Bitcoin network is a system of digital currency decentralized unit of account is bitcoin. Bitcoin works with software and a protocol that allows participants to issue bitcoins and manage transactions in a collective and automatic way. As a free Protocol (open source), it also allows interoperability of software and services that use it. As a currency bitcoin is both a medium of payment and a store of value. Bitcoin is designed to self-regulate. The limited inflation of the Bitcoin system is distributed homogeneously by computing the network power, and will be limited to 21 million divisible units up to the eighth decimal place. The functioning of the Exchange is secured by a general organization that everyone can examine, because everything is public: the basic protocols, cryptographic algorithms, programs making them operational, the data of accounts and discussions of the developers. The possession of bitcoins is materialized by a sequence of numbers and letters that make up a virtual key allowing the expenditure of bitcoins associated with him on the registry. A person may hold several key compiled in a 'Bitcoin Wallet ', 'Keychain' web, software or hardware which allows access to the network in order to make transactions. Key to check the balance in bitcoins and public keys to receive payments. It contains also (often encrypted way) the private key associated with the public key. These private keys must remain secret, because their owner can spend bitcoins associated with them on the register. All support (keyrings) agrees to maintain the sequence of symbols constituting your keychain: paper, USB, memory stick, etc. With appropriate software, you can manage your assets on your computer or your phone. Bitcoin on an account, to either a holder of bitcoins in has given you, for example in Exchange for property, either go through an Exchange platform that converts conventional currencies in bitcoins, is earned by participating in the operations of collective control of the currency. The sources of Bitcoin codes have been released under an open source license MIT which allows to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the software, subject to insert a copyright notice into all copies. Bitcoin creator, Satoshi Nakamoto What is the Mining of bitcoin? Technical details : During mining, your computer performs cryptographic hashes (two successive SHA256) on what is called a header block. For each new hash, mining software uses a different random number that called Nuncio. According to the content of the block and the nonce value typically used to express the current target. This number is called the difficulty of mining. The difficulty of mining is calculated by comparing how much it is difficult to generate a block compared to the first created block. This means that a difficulty of 70000 is 70000 times more effort that it took to Satoshi Nakamoto to generate the first block. Where mining was much slower and poorly optimized. The difficulty changes each 2016 blocks. The network tries to assign the difficulty in such a way that global computing power takes exactly 14 days to generate 2016 blocks. That's why the difficulty increases along with the power of the network. Material : In the beginning, mining with a processor (CPU) was the only way to undermine bitcoins. (GPU) graphics cards have possibly replaced the CPU due to their nature, which allowed an increase between 50 x to 100 x in computing power by using less electricity by megahash compared to a CPU. Although any modern GPU can be used to make the mining, the brand AMD GPU architecture has proved to be far superior to nVidia to undermine bitcoins and the ATI Radeon HD 5870 card was the most economical for a time. For a more complete list of graphics cards and their performance, see Wiki Bitcoin: comparison of mining equipment In the same way that transition CPU to GPU, the world of mining has evolved into the use of the Field Programmable Gate Arrays (FPGA) as a mining platform. Although FPGAs did not offer an increase of 50 x to 100 x speed of calculation as the transition from CPU to GPU, they offered a better energy efficiency. A typical HD/s 600 graphics card consumes about 400w of power, while a typical FPGA device can offer a rate of hash of 826 MH/s to 80w of power consumption, a gain of 5 x more calculations for the same energy power. Since energy efficiency is a key factor in the profitability of mining, it was an important step for the GPU to FPGA migration for many people. The world of the mining of bitcoin is now migrating to the Application Specific Integrated Circuit (ASIC). An ASIC is a chip designed specifically to accomplish a single task. Unlike FPGAs, an ASIC is unable to be reprogrammed for other tasks. An ASIC designed to undermine bitcoins cannot and will not do anything else than to undermine bitcoins. The stiffness of an ASIC allows us to offer an increase of 100 x computing power while reducing power consumption compared to all other technologies. For example, a classic device to offer 60 GH/s (1 hashes equals 1000 Megahash. 1GH/s = 1000 Mh/s) while consuming 60w of electricity. Compared to the GPU, it is an increase in computing power of 100 x and a reduction of power consumption by a factor of 7. Unlike the generations of technologies that have preceded the ASIC, ASIC is the "end of the line" when we talk about important technology change. The CPUs have been replaced by the GPUs, themselves replaced by FPGAs that were replaced by ASICs. There is nothing that can replace the ASICs now or in the immediate future. There will be technological refinements in ASIC products, and improvements in energy efficiency, but nothing that may match increased from 50 x to 100 x the computing power or a 7 x reduction in power consumption compared with the previous technology. Which means that the energy efficiency of an ASIC device is the only important factor of all product ASIC, since the estimated lifetime of an ASIC device is superior to the entire history of the mining of bitcoin. It is conceivable that a purchased ASIC device today is still in operation in two years if the unit still offers a profitable enough economic to keep power consumption. The profitability of mining is also determined by the value of bitcoin but in all cases, more a device has a good energy efficiency, it is profitable. Software : There are two ways to make mining: by yourself or as part of a team (a pool). If you are mining for yourself, you must install the Bitcoin software and configure it to JSON-RPC (see: run Bitcoin). The other option is to join a pool. There are multiple available pools. With a pool, the profit generated by any block generated by a member of the team is split between all members of the team. The advantage of joining a team is to increase the frequency and stability of earnings (this is called reduce the variance) but gains will be lower. In the end, you will earn the same amount with the two approaches. Undermine solo allows you to receive earnings huge but very infrequent, while miner with a pool can offer you small stable and steady gains. Once you have your software configured or that you have joined a pool, the next step is to configure the mining software. The software the most populare for ASIC/FPGA/GPU currently is CGminer or a derivative designed specifically for FPGAS and ASICs, BFGMiner. If you want a quick overview of mining without install any software, try Bitcoin Plus, a Bitcoin minor running in your browser with your CPU. It is not profitable to make serious mining, but it is a good demonstration of the principle of the mining team.
TL,DR: I am mining on ethpool.org (Switched to Ethermine.org), what shows up there doesn’t show up in my wallet and I don’t know why. Is there something I am missing?
So I have just spent the weekend trying to successfully mine Eth. I am using the latest Claymore mining software (Claymore's Dual Ethereum AMD+NVIDIA GPU Miner v7.4) , mining on ethpool.org, with the Mist wallet (0.8.7) geth (1.5.3). Having left the setup running for most of 3 days, what shows up on the ethpool.org stats page, never shows up in the Mist wallet and I don’t understand what is causing that disconnect. I do have some long running experience with mining Bitcoins with both GPUs and ASICs (Still running 2 cute USB ASICS just for fun). I am not trying to make money at this time, though I wanted to upgrade my graphics card anyway so I figured if I could mine some Eth while before PoS happens (maybe pay off the card) that’s cool too. My process is the following: Starting geth from command line using geth.exe --cache=2048 --jitvm --maxpeers 100 –light to let it synch. Seems to work fine. I have previously tried using geth with –fast, to synch it seems to work fine that way as well. Then I start Claymore with Start.bat containing the following. setx GPU_FORCE_64BIT_PTR 0 setx GPU_MAX_HEAP_SIZE 100 setx GPU_USE_SYNC_OBJECTS 1 setx GPU_MAX_ALLOC_PERCENT 100 setx GPU_SINGLE_ALLOC_PERCENT 100 EthDcrMiner64.exe -etha 0 -mode 1 -epool us1.ethpool.org:3333 -ewal 0x1846bB49FA4F0efE4BCe3F467c7b24c9490ea62f -epsw *
I then load up ethpool.org to monitor my mining progress and start Mist.
I am using the following hardware. Intel i5-2600k, Asus P8Z68-V Gen3, 1.5TB hdd space on 2 drives. 16GB RAM. XFX Radeon R7 360 2GB (Clock: 1050MHz, Mem: 500MHz – Hynix DDR5) Driver version: Crimson 16.11.3 If you care, I am getting 3.9-4.4 Mh/s with Claymore. IIRC I was getting 2.something with other miners.
Known problems: Low number of peers. I am not using the recommended drivers. 2GB on video card is near size limit. Power is .11$ kw/h here.
Errors I have seen, but do not understand: contracts/release/release.go:134] Failed to retrieve current release: Missing trie node
Any questions? Any suggestions are welcome, thank you for taking the time to read this! Screenshot of geth and claymore running. https://imgur.com/a/LGxeZ
[USA-FL][H] Chromebox with Kodi, Apple Laptop, Windows netbook, HP Microservers, Android tablet, Cell Phones, 3d Printers, Xbox 360, Other misc items. [W] Paypal, Google Wallet
I have a bunch of different items for sale. All items do not include shipping. Please PM me your zip and I will calculate shipping. I will consider best offer on anything. I will also consider trades however I do not need anything specific so would prefer cash. I have prices listed for Paypal. I prefer google wallet and will deduct paypal fees. All items come in original box. If you would like any additional pictures please let me know. I also have available a $50 Google Play Credit that I am looking to sell for $40 Google Wallet Only. Must be activated by tomorrow (31st). Will send code via PM right after payment. Chromebox
Chromebox with Kodi installed - $160 each 3 available. They are all brand new. I have it setup to boot to Kodi. No addons or extras preinstalled (But can install on own) just Kodi. I find these much faster and more stable then android.
Zotac Zbox with Kodi installed - $200 Dual core Intel Atom with Nvidia ION Video, 2gb memory, 32gb SSD, Bluray reader, Card Reader, HDMI and optical audio out. I have kodi installed on it now but can install windows or linux as you choose. I had this as a media streamer on my tv. Worked great.
ASUS EeeBook X205TA 11.6" Laptop with 2GB RAM 32GB Flash - $150 This laptop is Like New. I purchased to install Linux on and find out wifi on board is not compatible with linux. I did finally get arch installed but wound up getting something that was more compatible. Currently has Windows 10 installed and updated.
Macbook Pro - $700 13" Aluminum Macbook Pro Model MD101LL/A Includes 2 AC adapters and Orange hard plastic spec case. 2.5ghz Core i5 Processor, Upgraded to 16 gb ram, Upgraded 320gb 7200rpm Hard drive (for data), Upgraded 120gb SSD for the OS (Due to 2 Hard drives, the dvd drive has been removed but is included)
FlashForge Creator Pro - $850 Each I just completely ran through and cleaned both printers. I have tested both with Abs and Pla with a few various prints. Each will come with a new roll of Abs filament. All parts are included and printers are fully functional. (2 available)
So it has become apparent to me from the constant questions on this subreddit that a lot of new miners/shibes need help, so I have decided to make a basic guide to most of the questions I see a lot here. 1) BTC - This means Bitcoin so If you see a miner that says BTC it does not work with dogecoin because dogecoin is Scrypt. 2) Scrypt - This is what dogecoin runs off of, or what your computeasic/gpu solves to support the network. 3) Asic - This stands for an application-specific integrated circuit, or in less confusing terms a miner dedicated completely to mining a particular type of coin such as dogecoin. 4) GPU Mining - Using a graphics card to mine crypto currencies. 5) CPU Mining - A slow and inefficient way of using your computers Central Processing Unit to mine crypto currencies. 6) Hash Rate - The rate at which you mine a crypto currency. The higher the better. 7) KH - This Means Kilo Hashes. 1KH = 1,000 Hashes a Second 8) MH - This Means Mega Hash - 1 MH = 1,000,000 hashes a second. 9) Should I buy an asic? - If you want to support the network yes. If you want to solely make money off of it No. Buy the coin if you want to make profit. This is my opinion, there is no one answer to this question. 10) Mining Pool - Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out smoothly over time. Tl/DR You Work with other miners to solve stuff faster making you money faster. 11) Mining Difficulty - How hard it is to solve the problems to generate dogecoin. 12) Do I need a fan? - Yes I cannot stress how important it is to properly cool your units. Make sure your units are always cool or else they might melt. Do not think you are safe just because you turn your ac up, but a fan. 13) What Mining Pool Should I Pick? - Here is a list of all of the pools Pick one that works for you. 14) What is a wallet? - This is where you store your dogecoin and where you can send and receive dogecoin. 15) What Wallet Should I get? - Online is convenient but not safe. Paper Is the Safest But Not convenient. Cold Storage is the mostly safe and somewhat convenient. 16) What is cold storage? - Basically putting your wallet on an offline device like a usb. 17) Can I mine on a mac? - Yes look here for more info. 18) Cloud Mining - A service you buy that mines for you. you pay for a certain amount of hashes, lets just say 10gh for an example, and the company/service mines you this amount for the time you bought. It is not profitable usually. 19) What Is a Raspberry Pi? - A small cheap computer that people use to run their miners on. 20) Watts - The measure of electricity. 21) Should I pre-order? No Never F%&$ing pre order, you will get scammed 99.9999% of the time. 22) Can I still mine? - Yes, you probably wont make money but you will support the doge community. 23) Linux - An operating system like windows that people use to run mining programs on. 24) If you Have an animal make sure to properly protect your mining rig from them. Wires from the machines make great chew toys. 25) How Do I calculate if im going to make money with my mining rig? - Use This mining CalculatorThis is also a very good calculator 26 What Mining Program Should I use? Windows: CG MINER Mac: Astroid Linux: CG Miner again Goodluck mining I hope this helps. This Also Took A long time to make so support would be appreciated :)
My experience with Bitcoin: How I lost $5k and a potential profit for over $42k.
Happy Dec 1 everyone. I can't sleep tonight and I have something to get off my chest, so story time. I got into bitcoin soon after the crash in April. I was very interested in bitcoin and the way it worked and finally decided to buy when the price was around $105-$125 range. I spend $5k total and got around 42btc. That $5k was my life savings but I believed bitcoin was the future. At this time I was still working at my minimum wage job and barely getting by. I wanted a way out of my horrible existent. I wanted to go to school again but I was too worried about paying my bills or if I was going to make it the next month. I thought bitcoin was my way out. I was inspired by the stories of the people that "forgot" their wallet and all of a sudden they were tens or hundred-thousandaires. While I was doing research I stumbled upon the bitcoin forums bitcointalk.org. I thought about mining bitcoin but didn't have the hardware. I don't have an awesome rig that can and I couldn't afford the asic units that butterfly labs were selling away. After a few weeks I learned that butterfly labs were not to be trusted and asicminer announced they we selling the usb miners. At this time the general consensus was that mining will never be profitable but I bought some anyway with the plans of reselling it. I got into bitcoin stocks because of asicminer. I have a few shares at the time and eventually got more and reinvested the dividends into the 1/100 asicminer. At this time things were looking up. I had a usb miner hashing away and asic miner was going up in price. After a few weeks I sold my usb miners on ebay and got a good deal on it. I went over my breakeven point and had extra money. So I used the USD to buy more bitcoin with bitinstant. Bitinstant has a meltdown and didnt get my btc in time to reinvest in asicminer. The price shot up to 2.5btc a share and I missed out but it was ok. This is the high point of my life and experience with bitcoin. The dividends from asicminer was helping me pay some of my bills. I had a great investment going and I was richer than I had ever been. Bitcoin was my savior. Bitcoin was my answer. I got so excited about it I told my parents but they were disenchanted. I was met with "Why do you always daydream? Why can't you just go to school and get a real job? Imaginary money, fake money, scam." I'm not that smart so its hard for me to go to college but everyone keeps telling me you have to go to school to get a good job. Well the next month came and ebay hit me with a 10% fee for successfully selling my stuff. I didn't know about the fee so I was caught off guard and now my bank account is in the negative. I didn't eat for the next few days while I was waiting for my bitcoins to turn into USD and transfer to my account. I have been spending a lot of time lurking bitcointalk.org and there was news of these new start ups. BTCgarden and Labcoin. I was thinking I'll show my parents that I'm not daydreaming, I'm going to make it big and they won't be disappointed. So I sold all my asicminer shares and had around 90btc all together. I split between the two and when BTCgarden failed I dump the rest into Labcoin. Asicminer was falling in price at this time and I was glad I made it move. At the height of Labcoin I had over 150BTC. I thought I made it. I was happy. The next day burnside [stock exchange operator] announced he was going to close down his exchange and the price for everything plummeted. I didn't find out until a few days later when I was my stocks were worth 1/6 of what they worth. I was destroyed, I didn't know what to do and I was drinking the Labcoin cool-aid hard. I thought that its ok, the price will go back to IPO and I can sell. Months pass and I lost my job. I couldn't focus at work and I was really pissy. Now I'm sitting on useless Labcoin shares and joined with the group of people looking for a lawsuit, knowing full well I'll never get my money back. I lost my apartment last week and I had to go home with my parent (who are rubbing this shit in my face every chance they get. That is the reason why I moved out in the first place). I had the worst thanksgiving ever and I'm not looking forward for Christmas or the New Years. Its hard trying to find a job. I don't know what to do anymore. Its killing me that bitcoin is over $1k. If I had just kept it in my wallet and didn't touch it I would have over $40k now. Hindsight is a bitch. Thanks for listening. I hope you guys have a better time with bitcoin. TL;DR: This is not a bitcoin success story. Its a story about my highs and lows and ultimately my failure.
Want to get started mining defcoin with an ASIC and a Raspberry Pi? Does 360 KH/s of mining power sound appealing? Here’s how to do it. https://pbs.twimg.com/media/Blpj8IvCcAEIStY.jpg 1) Hardware List -Raspberry Pi Model B --SD Card --Micro USB power supply --Ethernet cable -Gridseed ASIC --12V power supply (5.5mm/2.5mm barrel connector) --USB to Mini USB data cable The main component is the Gridseed ASIC, which will be doing the Scrypt calculations. The Raspberry Pi will be used as the controller for the ASIC, and will be doing the communication with the mining pool. If you’re not familiar with the term, an ASIC is an Application-Specific Integrated Circuit - basically a chip with a single purpose, like mining crypto currency. Using an ASIC will allow us to mine more efficiently than we would be able to with general purpose hardware. The ASIC that I’m using is a “300+ KH/s Single Gridseed ASIC Miner”. It looks like a CPU heatsink with a fan attached. There is actually a circuit board with 5 ASIC chips sandwiched between two halves of this heatsink, and has a mini USB connector and a power connector sticking out the side. There are a few places where you can buy these. I bought mine at GAWMiners.com for $130. That was the lowest price that I could find, and I had a good experience buying from them. Use this link, and you can get $20 off of a $200 order (and give me some referral points :-)) GAWMiners. You can also find other vendors by searching for “Gridseed ASIC”. You’ll need a 12V power supply to power the ASIC, and a USB A to USB Mini B cable to connect the ASIC to the Raspberry Pi. I’m using a 60W power supply, which seems to be working fine for defcoin (Scrypt) mining. These ASICs can also mine Bitcoin at the same time, but you may need a beefier power supply if you want to do that. The Raspberry Pi can be purchased at any number of places- Amazon, SparkFun, AdaFruit, etc. I’m using the Model B because I had one already, and also because it has a built in ethernet port that will make connecting to the internet easy. Make sure to get an SD Card and a micro USB power adapter to get the Pi up and running too. 2) Software If you haven’t already, download the defcoin wallet from defcoin.org. If you want to do pooled mining, create an account for one of the defcoin pools, such as redbaron.us or whichever other pool you want to mine. Once you’ve created a pool account, make sure to create a worker too (for MPOS pools, that will be under My Account > My Workers). The password for your worker does not have to be the same as the password for your pool account (and it probably shouldn’t be). Next, download the latest Raspbian image from raspberrypi.org/downloads/ and install the image to your SD card. Instructions for installing the image can be found here. If you are using the dd method on a Mac, make sure to use /dev/rdiskX instead of /dev/diskX - both will work, but rdiskX is much faster. Once you have the image installed, put the SD card in the Raspberry Pi, connect the Pi to your network, and connect the Pi to your micro USB power adapter to power it on. Next, SSH in to your Raspberry Pi with the default username and password pi/raspberry. I use nMap to find the IP address that has been assigned to my Pi. You can also use an HDMI display and a USB keyboard to log in instead of using SSH. After logging in for the first time, run through the wizard that comes up to configure your Raspberry Pi. The defaults are fine for most things, just make sure that you don’t skip the step to expand the filesystem to use the rest of your SD card. If you don’t expand the filesystem, there won’t be enough space for other software. Once you have Raspbian installed, and have gotten through all of the first login setup stuff (which will likely end with a reboot), log back in to the Raspberry Pi with the pi user. From the command line, run sudo apt-get update sudo apt-get dist-upgrade There are some stability issues with USB communication between the Raspberry Pi and the Gridseed ASIC. Enabling SLUB debugging seems to resolve this, at least well enough to prevent the Raspberry Pi from freezing every so often. Open the /boot/cmdline.txt file, and add the following text to the end of the line. Don’t add a new line, just add this to the end. You can use vi, nano, or whatever your favorite text editor is to do this.
Reboot the Raspberry Pi once you’ve added that flag to your /boot/cmdline.txt file.
sudo shutdown -r now
Log back in with the pi user once the Raspberry Pi is finished rebooting. The mining software that we’re going to use is a customized version of cgminer that has support for the Gridseed GC3355 chips that are used in our ASIC. There are a number of different mining programs out there, this is just what has been working the best for me so far. First, install git and dependencies needed to compile cgminer.
cd cgminer-gc3355 autoreconf -i ./configure --enable-scrypt --enable-gridseed make
Once the make command finishes, we’re ready to run the mining software. You can also run make install if you want to install the software, but running it out of the build directory works just fine. Plug in the power supply for your ASIC, and connect the ASIC to it. Connect the USB cable to the ASIC and to your Raspberry Pi. Run the mining software by running the following command. The -o option specifies your pool URL, the -u option specifies your username and the workername that you set up for the pool, and the -p option is the password for your worker. There are a couple of options available that are specific to the gridseed ASICs, and those will be placed after --gridseed-options. The freq=850 option sets the clock frequency of the ASIC to 850 MHz. There are other clock options available, but 850 seems to be working best for me. I was getting hardware errors at 900, and a lower average hash rate. I am getting about 360 KH/s with the clock frequency set to 850.
This command needs to be run with sudo in order to access the USB hardware. You can also create another user specifically for mining, or grant the pi user the appropriate permissions if you don’t want to run cgminer as root. When you run this command, you should see output from cgminer showing that it is communicating with the mining pool, and something showing your hash rate. If you’ve gotten this far, and you’re seeing output from cgminer showing a hash rate, congratulations, you’re mining defcoins with your ASIC! There are just a couple more steps to do if you want to let your Raspberry Pi and ASIC continue mining without needing you to be logged in. To keep cgminer running after I log out, I am using nohup. You could also use screen instead of nohup. Create a script (startMiner.sh) by running the following commands.
If you run this command with sudo startMiner.sh, cgminer will run in the background, and will continue running after you log out. If you want to have this run when your Raspberry Pi boots, modify your /etc/rc.local script so that it executes this startMiner.sh script. Your /etc/rc.local file will end up looking like this:
# Print the IP address _IP=$(hostname -I) || true if [ "$_IP" ]; then printf "My IP address is %s\n" "$_IP" fi /home/pi/startMiner.sh exit 0
I began seriously mining Dogecoin yesterday. I spent the last several days assembling and configuring a computer for this (among other uses). I developed a strong interest in digital currency in the last month, and have been gently wading into this exciting new world that we are all building together. I have a wife, children, and a day job, and have had an unsuccessful time explaining why I'm so interested in this, and why altcoins and Bitcoin are not a pyramid scam, a joke, etc. Here, I hope to explain my personal reasons for choosing to spend time and money in Dogecoin mining, since it may be useful to others coming into digital currencies, as they are gaining more and more press and publicity lately with many articles in the mainstream press on Bitcoin, Coinye, etc. Only a month ago, I began to notice that Bitcoin was really being mentioned a lot in the media. I had known about it for several years, but had assumed it would just go away. It never made sense to me (it does now!), but I didn't spend much time thinking about it. I figured, "after all, there's nothing backing it", and left it at that. Obviously, I knew nothing about currencies or monetary systems at the time, and neglected the fact that nothing tangible backs a USD either. After hearing about the Dread Pirate Roberts / Silk Road bust, I was surprised to learn that Bitcoin was alive and had grown to such an impressive value (it was around $1,000 USD per 1 BTC at the time, as I recall). Later, I heard a longer story about Bitcoin on the radio (on NPR, I believe), and was further surprised that several legitimate, real-life businesses had started to accept Bitcoins. Now, I was hooked, and needed to learn more. By the end of December, I'd read enough about Bitcoin to know I wanted to participate, but wasn't comfortable speculating in it with real money. I knew it wasn't going to be profitable, but in early January, I spent about $40 on a USB ASIC "Block Erupter" for Bitcoin mining. This runs at 334 MH/s (using Bitcoin's SHA-256 algorithm, not Dogecoin's scrypt algorithm). This has been sufficient to generate approximately $0.75 worth of Bitcoins over the last 2 weeks that I've been running it. It gave me something to play with, but was pathetic compared to what the professional miners were doing (measured in TH/s, tens of thousands of times faster than my capability). Reaching their levels required more specialized ASIC hardware (not just a single USB key-sized device). The higher performing Bitcoin mining hardware was all backordered or available only from relatively unestablished companies that I would not want to send thousands of dollars for. Furthermore, the hardware seems to only really be usable for Bitcoin mining; it had no other obvious utility. BUT, through cryptsy it was easily possible to convert other altcoins into BTC or vice-versa. Litecoin, Dogecoin, and others were mentioned in several mainstream news articles. Dogecoin was treated as a joke and novelty. However, on looking into it, along with several other altcoins, I decided it was more than serious. Dogecoin:
has a relatively healthy market cap and volume according to sites like coinmarketcap.com.
has an active reddit community tipping one another in dogecoins (I'd never even been a reddit member before or looked at it, but could see it was awesome)
has real online games and services (casinos, Mincraft servers, etc.) that accept payments in Dogecoin
had several active mining pools and easy to use wallet and mining software on multiple platforms (Windows, Mac, Linux, Android)
seemed to be surviving as a community, despite a pancake in the price
had "bounties" for improvements in the ecosystem, which people seemed to really be ponying up to support
an extremely enthusiastic and engaged community, with numerous posts ("to the moon!", etc.) whenever anything at all seemed to happen to Dogecoin. Whether the event was positive or negative, the enthusiasm was still there.
Few or no other altcoins seemed to have all these properties to the same degree as Dogecoin. I started CPU-mining it immediately, lacking any GPU hardware in my house (I am not a gamer). Even the modest CPU power in my home PCs (used for web surfing, primarily) was able to generate a little less than 1,000 DOGE per day (which was roughly $0.25 - $0.30 at the time). Not super-impressive, but enough to play with and check out the rest of the Dogecoin universe. I became hooked. I decided that not only was this a fun thing to play with, but it was also potentially a very good investment. Not having much spare cash, not having a high risk tolerance, and not having any desire in being a "speculator", I decided that rather than convert USD to Dogecoin, I would build a more capable mining computer. I will share more details on this later, if there is interest. Dogecoin mining on GPUs and CPUs is easy, and the cost of building a machine for this is very reasonable, considering that the machine has many other uses, including:
learning to program with OpenCL
contributing computing power to projects such as Folding @ Home
use as another general-purpose computer or server in the home
This is vastly superior to me, compared to investing the same amount of money in Bitcoin hardware, which is useless for anything else. Rather than speculating in Bitcoins, I decided there was no risk at all in building a computer with high-powered GPUs that would be useful for Dogecoin's scrypt-based altcoin mining, since even if it never made economic sense, I could use the system for many other things. I had not built a PC in over 10 years, and would up spending about $2000. Since yesterday night, I am now mining Dogecoin at a consistent rate of 1.2 MH/s (my hardware can go to 1.6 MH/s, but the temperatures did not seem healthy to me, so I slowed it down while I study them). This is extremely fun, and I'm proud to be contributing to the Dogecoin ecosystem.
Hi, I don't know much about BitCoins but was considering getting into it, mainly for a bit of fun although not losing too much money would be nice. I was thinking of getting some ASIC USB block eruptors, maybe 4 or 5 and connecting them to a USB hub and mining. I just had a few questions regarding it, I'd really appreciate being answered.
Just how fast would 4 or 5 of these things be running at 330M/Hash/s? I know its not much but would it be decent? I was thinking of just hooking them up to a USB hub.
Say I ran them for 4-5 hours a day, how much electricity would I use per day?
I'm not 100% sure how I manage a BitCoin wallet and start mining in a pool, I'm currently working through the reddit wiki, are there any up to date youtube videos?
Looking for some explanation on how mining will work with the new ASIC chips, note- I'm a newb so maybe it's a dumb question
Hey all, I'll be getting a new computer for Christmas which includes a GTX 680 chip, I know GPU mining is being obsoleted by these new ASIC cards..my question is basically how these cards can be utilized. Right now this is what I imagine happens: 1) You install the mining program on your computer 2) You hook up the ASIC thing from butterfly labs or whatever through USB 3) Somehow, through the magic of ASIC and USB connectivity, the bitcoins start showing up in your wallet? Is it really that simple? I know the cards are a bit expensive but at such low power consumption it seems almost like free money. Basically I'm wondering what the catch is...will something happen in the market when these things hit? Is the investment worthwhile? I'm getting my sweet rig anyway and if these cards are all they're cracked up to be I'm thinking it will be worth it to get my own mining operation going.
So I've decided to join the illustrious pursuit of Bitcoin mining. I've done a bit of research on the matter, and read over a few of the posts here. And I still have a lot of research to do yet. My first problem is that there's still a lot that I'm not sure about and I'm still new enough that I don't quite know the right questions to ask, or if the questions I'm trying to ask are even applicable. So, I wanted to outline my situation and some of my thoughts here and see if this great community could help direct my research. To start off, I purchased my ASIC hardware today, and I'm awaiting delivery. I managed to get a total of 13.2GH/s for less than $300, which seemed like a good buy. It's more MH/s per $ than the $350 USB device that butterfly labs was offering. I know that's pretty weak, but it's where I've decided to start. It's good enough for getting my feet wet. My first real question is regarding the network bandwidth requirements of an active mining setup. All of the online guides I have read have said absolutely nothing to this issue. Common sense would tell me that this is either a negligible concern or in some other way, so bluntly obvious that it doesn't bear mentioning. So at the risk of sounding dense, can anybody describe their situation in this area? I've got a 12Mb/s DSL connection, will that be a bottleneck issue or will it suffice? As I've come to understand, my next steps are to setup a wallet for the currency, join a user pool and setup a mining client. And it's these steps where my questions begin. The most popular choice among the webz for walltes was easily Bitcoin Armory, but the 6GB RAM requirement is a nonstarter for my current hardware setup. I understand that they are working to reduce that requirement and that, also, there are hardware wallet modules hitting the market soon. Until one of the two options becomes available, I'm looking at utilizing a third party, web based wallet. Any suggestions in that regard would be appreciated. But my first concern with a wallet is that I am very interested in mining cryptocurrencies other than Bitcoin. I haven't been able to get an answer as to whether or not I will need an individual wallet for each unique currency I mine or if wallets generally support more than one currency type. Reading through a number of the beginner's guides found through google gave me the impression that installing a mining client and joining a mining pool were separate issues. But a thread I read here seemed to indicate that particular clients were tied to specific mining pools. Preferably, I'd prefer a client that would allow me to select a mining pool, as well as supporting mining for Bitcoin as well as multiple other cryptocurrencies. Is that a realistic expectation? If the tone of any of my questions suggest any broad misconceptions, I would appreciate a heads up. If anybody can link to some helpful literature on the subject, that would also be appreciated. Thanks for reading, and cheers for any help.
Help with getting things to start mining scrypt currencies (using raspberry pi 2 , gridseed asic miner , & cgminer) . . .
Here's what I have & will be using (I already have the cables & power) : raspberry pi 2 Gridseed ASIC Miner for Litecoin and Bitcoin Mining --- 4 of these cgminer [ I followed this example for setting things up : https://www.reddit.com/defcoin/comments/23nvs1/raspberry_pi_asic_defcoin_mining_guide/ it is my understanding that any altcoin you wish to setup mining for , is done in this similar fashion ] I want to do scrypt cryptocurrency mining , I just want to understand how this is done .... ( I know there's a lot of tutorials out there & great vids , and I've done a lot of reading on all this matter , but I can't seem to get things working right , please help / advise ) Questions:
if I solo mine , what is the correct port # to use here (and is the below command formatted correctly more-or-less) :
sudo ./cgminer -o stratum+tcp:localhost:#### -u Username.Workername -p yourworkerpassword --gridseed-options freq=850 ( I understand I need to create my own pool , a pool of 1 , is considered to be solo-mining , correct ? How do I do this ? )
also , before I can solo-mine , I need to have downloaded & install the wallet for the cryptocurrency I am going to mine , correct ? And I understand there is some kind of Config files relevant that I should modify accordingly to set things up with my mining solo , right ? How is it done & where do I find this config files ??
I tried connecting my 4 gridseed(s) to my raspberry pi 2 , via the 4 usb ports it has , but it seems like it can't handle the 4 of them , so I have to deal with only using 2 of the gridseed(s) connected to my raspberry pi 2 at a time .... does this seem right to you ? And so , what work around do I have for this poroblem , I want to use all 4 of these gridseeds connected to my raspberry pi 2 ,,, I'm guess a usb hub is needed for this right ?
If anyone has a wallet printer! I have a request inside!
Hello /bitcoin! A little background for this request, I am currently a sophomore at university pursuing accounting. Ive followed Bitcoin for a while, had a few usb ASIC miners last year but sold to simply recover my expenses. Last year I took an Economics 100 with a really cool professor, it was a fun class and we even had discussions on Bitcoin (this was during the $1000 peak as well). He's always been intrigued by the phenomenon and likes to incorporate as much new and current information as he can into his course. Fast forward to this year, I luckily managed to snag a spot in his Economics 210 course. During the first day, he set a bunch of different types of paper currency on the table at the front and asked what makes it valuable? No one in the class besides me even mentioned bitcoins and the proof of work. But it got me thinking, I should give him a paper wallet to add to the mix. I talked to him about it and he loved the idea. So Im asking anyone on this sub who has a nice printer (I thought there was one that was able go print in nice color and have cool security codes and such like on today's USD) I have 0.05 btc to put on the paper wallet and would be willing to pay for shipping and your time through Paypal or by some more btc (whichever floats your boat, I just need to buy some more then lol) If anyone can help, it would be awesome and much appreciated!
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