Operators of Bitcoin Mining Operation Butterfly Labs Agree ...
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[META-Resource] Compilation of the creative works we see in Mr. Robot
Last updated 09/03/2019 09:50 This post is a subreddit cumulative effort! A list of all Redditors (so far) are at the bottom of the post. I thought maybe we could compile a list of all of the art, literature, music, movies, etc. that we see in Mr. Robot. Who knows, it may help with understanding, theorizing, and our enjoyment of an already enjoyable show. I will add to this list based on the comments to the post.
Reddit - “I’m a huge Redditor...I remember being a little bummed out during the second season, that everybody figured out the big reveal, but at the same time, it just made me realize that wow, we have a really strong fanbase that’s really going to break it down and make the effort to really try and understand the show...We were also not hiding it necessarily. We were foreshadowing a lot of that.” - Sam Esmail quote
Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs
My name is borderpatrol. I'm the founder of Buttcoin.org and have been making fun of bitcoiners since 2011. Buttcoin is one of the oldest Bitcoin sites on the internet and just last month celebrated it's 1 millionth visitor. And about 7 months ago I (accidently) became a paid shill for Butterly Labs. In December of 2013, Bitcoin losing steam and after 2 1/2 years of running the site I was getting tired. I had started up school again and work was getting steady so I wasn't updating as much. I was in the middle of a redesign to keep myself busy but I went weeks between updates. But I liked the site so I kept it around. A few months prior killhamster had helped me find new comedy gold to mine and was posting constantly on the twitter. I was approached by someone named Jeff. He emailed me from a domain at a local bar in Chicago. He had asked about buying the site. This wasn't the first offer I had gotten. I have been asked to comment on articles in PC World and speak at John Hopkins University about Bitcoins and the site was somewhat popular, but no one ever put in any serious offers. The site got steady traffic but everyone who knows about bitcoins, knows about computers. And everyone who knows about computers runs AdBlock. So the site made no money but was a fun little hobby of mine. Jeff presented himself as a regular reader of the site who owned bitcoins and had presumably cashed out. He said he liked the writing style, liked the site, and wanted to know if I was interested in a sale. I asked what he was offering. He said he wanted to offer me $XX,XXX dollars (not as high as the $30,000 someone is quoting however). I thought his was a joke. The site had no revenue and was virtually impossible to monetize. The only people willing to advertise on bitcoins sites are BFL, Mt. Gox, BitPay, and they would never advertise on Buttcoin. I asked him a few more questions to gauge his sincerity; what he planned on doing with the site, how the transition would be handled, would he allow me to continue to write for the site. He explained that he wanted to keep the site like "The Onion of Bitcoin", wanted me to keep writing for a minimum of 6 months. He also wanted everything to be in his daughters name because she was just graduating out of journalism school and he wanted her to learn online publishing. The guy was going to buy my site and then let me still have control. I have bought and sold a few domains and sites before and could tell he was serious, so I said fuck yeah and took his money. Signed a contract, completed escrow and We did the site transfer and closed escrow. The day after the transfer occurred my admin account was locked out even though I had an agreement to stay there for 6 months. Since I was already fighting with little site issues because of the transfer I didn't think much of it, I emailed Jeff but got no response. Killhamster still had publishing rights. The next day we noticed that our most popular article on the entire site, the "The $22,484.00 Butterfly Labs Mini Rig bitcoin miner is a huge, broken, unstable piece of shit." had been edited and now read The Butterfly Labs Mini Rig is a sexy Bitcoin mining machine. At this point killhamster emailed Jeff and asked what was up. He stated that there were "going to be some changes to attract new advertisers". He explained that he liked the humor but picking on specific brands was no good. He said that BFL pays $1000/month for every ad on BitcoinTalk and that there's no reason we can't get the same kind of deal. Since my account was now locked out and I was the original author, killhamster could not change the article. At this point I was pretty bummed that what was told to me was no true but whatever, not much I could do about that now. Killhamster was still running the twitter and planning to do some funny stuff with future articles. I wanted to see what was up with this guy though. I checked and see what was edited. The only thing edited was That BFL article and 2 more, one about them faking CE certification and one where Wired tested it and was unimpressed. But there was some much worse stuff on there that wasn't touched. If he was trying to clean up the site for advertisers, why just those BFL articles. Then I remembered that my Google Search Rankings for certain Butterfly Labs related terms were high. Very High. Buttcoin was ranking between 3-4 for the search term "Butterfly Labs" and "Butterfly Labs Review" and was usually #1 for "Butterfly Labs Scam" and "Is Butterfly Labs ligit". It was obvious to me that the purpose of purchasing the site was to simply remove the negative articles that were destroying their search traffic and making them look bad. So I Google "Jeff Butterfly Labs" http://www.butterflylabs.com/management-view/jeff-ownby-2/ Jeff Ownby is the VP of marketing for BFL. I never got his last name and all contracts where under his "daughter's name". So I looked a bit deeper and see Jeff from BFL graduated from Elmhurst College in Illinois and the Jeff that bought Buttcoin emailed me from was a Chicago-area bar domain. I still couldn't get this guy's last name but I finally found an old Facebook post from a press release by the bar the guy owns and it said his name was Jeff Ownby. Could be another guy with the same name but I'm sure now that BFL bought the site simply to remove three negative articles. So that's the whole story. I was tricked into selling Buttcoin.org to BFL and no longer have access to the site so I've set up camp on the subreddit instead so I can shitpost about bitcoins still. Killhamster still can write articles once in a while and does wonderful things on the twitter. And in way, even though I never owned any, I still cashed out because of Bitcoin.
[Review] Fartier Panthère Secrete 27mm from PureTime DJF
Hello again! Seems like a number of you got some use out of our previous post on the Rolex 116231 so here we have the less sporty and more every day wear elegance of the Cartier (or Fartier as my wife calls it) Panthère Secrete. It was actually popular on some of the men in Hollywood back in the 80's but looks great and more timeless on women. It’s a much smaller face than the 36mm Rolex, and much more understated. As you'll see in the pictures and review, this is one of the best reps you can buy and it's extremely well priced. We believe it's very close to a super rep, but at the very least qualifies as a NWBIG (not worth buying in gen). Because it's such a simple watch, it's very easy to replicate and at <$300, the value is incredible in our opinion.
Ordered through website: 05/11/19. Note, you won't pay at order for Bitcoin, they will contact you for payment details shortly thereafter.
Payment info received from PT: 05/13/19
Paid for watch: 05/13/19. Note: Coinbase makes you wait 11 days for a purchase of Bitcoin to clear, so keep that in mind if you start the process. You'll want to deposit enough to cover the Coinbase transfer fee of a few dollars as well as a little extra in case the value of Bitcoin declines (it can also go up, making you money as well).
Watch Payment Processed: 05/15/19
QC pics received: 05/18/19. PureTime gives you 24 hours to accept or reject the QC pics. Generally you want to scrutinize in the same way as for your bags, just making sure there's nothing glaringly wrong, don't compare it necessarily to the gen version, that research should have been done ahead of time. This one though, you can since it's so good.
Watch shipped: 05/22/19 - via DHL. I like DHL, they email you at almost every step of transit. They only thing you need to clench your buttcheeks for is U.S. customs, I haven't had a problem before, but I know others have from time to time. As far as I know, PureTime will replace your seized watch for free whether it's in the U.S. or China. But you can reach out to sales over there and confirm that if you're concerned.
[Authentic](Link to Gen images) - This is a great article on the gen watch from Hodinkee as well as providing some great pictures of the watch.
Quality - 9.5/10
Quality is top notch. It uses 316L steel, which is not the highest end steel, but keeps the cost low and while we couldn't find anywhere quoting the actual steel type used in the gen version, usually for watches that retail for $4,600 use 904L, the higher end steel. The jubilee bracelet is very nice, super clean and shiny. The butterfly clasp was a little stiff out of the box, but it's such a minor gripe since we've opened and closed it many times since, seems to be breaking in nicely. Between those two items, we thought a half point reduction was fair.
Accuracy - 10/10
This is a rare NWBIG bordering on super rep. Here is the list of super reps and NWBIGs again from RWI, worth taking a look at before you dive deep in to a model that might not be as good. Both the gen and the rep versions use quartz movements, so in actuality you could probably bring this in to your local watchsmith if you need it serviced and claim ignorance if they actually give you flack for bringing them a rep. It's that close. I'd probably still not do that though, best to stick to a watchsmith you know is ok with working on reps and you've made them aware. Luckily, quartz movements are not nearly as complicated as mechanical movements so fixing a broken movement is easier anyway. There aren't a lot of crazy complications on this watch, just a dial and hands. The case is the most complicated part of the watch to replicate and that's usually not hard for these factories to do. It's usually the dial complication like a moon phase dial or GMT dials or day/date wheels, etc. that factories have a hard time replicating. Looking at the Hodinkee pics vs our photos taken, it's so close that you'd literally need both watches side by side with a magnifying glass to tell the difference. Buy/wear with confidence.
Satisfaction - 10/10
Me: As far as the logistical part of the process, I'm pretty happy with everything. PureTime is a breeze to work with, and they have among the best selections on their website in the business. One thing to note with rep watch retailers is that they all have access to the same factories. There aren't that many of them, so all of the dealers have basically equivalent access, not like with the bag world where you have certain TSs who may have more access than others. If you want something, but don't see it on the website, just reach out to PureTime and usually they can source it for you. The turnaround time on all of this was pretty reasonable at less than two weeks from start to finish. As far as the watch itself goes, try and outsource the link removal process to a significant other, it's kind of a pain in the ass without the right tools. You'll need two flathead mini screwdrivers to remove the links on this watch, and a lot of patience. I purchased this link removal kit on Amazon for $16, it has all the tools you need to change the size on any watch you own (as well as do a number of things you probably shouldn't do like opening the case back). Highly suggest you purchase this yourself to save money and time in the watch resizing department which ADs charge like $35 for sometimes. Da Wife (u/kdcakes1): The watch looks great! It looks so much better in person than the photos from the website, so it's better than I thought it would be when I got it. Nobody will question whether it's a replica imo. I have tiny wrists, and this watch fits proportionally almost perfectly. Remember to leave a little space when sizing the watch so you can get at least one finger under the bracelet to pop open the butterfly clasp easily. Good luck ladies!
Seller Communication and Service - 10/10
PureTime is my go-to trusted dealer for watches. They have a separate email account for their sales, QC, billing and shipping and all work together seamlessly to get your order filled. Pretty impressive from China. Also, if you want to contact the owner directly, you can go to the PureTime forum at RWI and speak with their ambassador Angus over there, he's very responsive to any issues you may have and they have a great reputation. I've bought 3 watches from them so far and all have gone smoothly. They will also help you through your first iteration of using Bitcoin, but after the first time it becomes pretty easy.
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Game Designer Bud Leiser (that's me!) has been an avid gamer for 34 years. Noteworthy accomplishments include
Was an official Delegate (demonstrator) for WOTC Products
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The Spoils (CCG)
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Too many to list here
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Church Of Monero: Enough is enough - How the leader of the Church tried to fool the community to make look like the Church is organizing the Monero Konferenco and even adding his own Monero address on the flyer (166 points, 268 comments)
[URGENT]Call for translators! - We have two days to submit as many translations as possible for the next release of the GUI wallet! We need your help! (123 points, 46 comments)
Monero translators, we need you to make one final sprint! The code freeze is imminent. (112 points, 15 comments)
I tell a lot of people about Monero who don't know anything about crypto and they instantly get it. They ask me the same thing over and over, so why do people still use Bitcoin? (127 points, 119 comments)
How trustyworthy is the Cake wallet for iOS? (80 points, 43 comments)
Why don't other coin devs like talking about fungibility? They seem to shrug it off even though it's a necessary component to being a currency. (77 points, 85 comments)
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.
Here is a conspiracy theory for the amusement of those who believe in the theory that skeptics are conspiring to make up conspiracy theories: There have been a few reviews of DragonMInt, the Halong mining rigs (and mysterious bitcoin.org co-owner Cobra has apologized for his earlier skepticism). However, the company still ticks several red boxes in the scam test:
Owners and CEOs are anonymous. (And mysterious BTCDrak seems to be involved);
The company has no legal address
They only accept payment in bitcoins
The units do not comply with consumer regulations
The first independent reviews say that the units are only 5% more energy-efficient (in hashes per joule) than similar Bitmain rigs; even though they are said to use 10nm chips rather than 16 nm, and to use ASICboost while Bitmain's don't. Pricewise they don't seem to be better either. Right? So the conspiracy theory is: The DragonMint is a "prepaid miner" scam. To better fool the butters, the authors built a few miners with chips "mined" from Bitmain rigs and repackaged in slightly different boards and box, with a bit of overclocking and overvoltage, and shipped them to selected customers for review. And, as the cherry on the icing of the theory, Halong is no Asian company, but the same Butterfly Labs gang. ;-)
After the GOX disaster took so many people by surprise, I feel that it’s worth bringing forward the madness that’s happening over at GAW for those that may be considering throwing some money their way. This especially with the launch of their “hash coin” later today. First off, I’m not some whistle blower or insider with secret information, just an enthusiast who cannot believe the amount of money people appear to be giving them despite red flags from here to forever. I know this post likely won’t do anything, but given the number of people casually trying to get into cryptocurrencies and seeing GAW as a good/accessible option it’s worth trying to bring up the discussion. You should always be aware of anyone promising anything too good to be true. Here we have a company that has promised guaranteed returns and "profitability" more times than I can count. There is no such thing as a sure thing, especially in markets as unpredictable as crypto, and especially on the scale they talk about. Also those returns have yet to materialize for anyone but the very first buyers (interesting...). They’ve created their own forum and aggressively policed any thread they have access to across the web to stamp out negative feedback. Their customer service by all accounts is a disaster and the only way to get a timely response is to post publically. There are many accounts that they ended up sending out whatever hardware they had lying around to people trying to buy their custom machines (war machines, etc) and then denying it. On their forum you get money for upvotes, lose money from your account for downvotes, get bonus money from the CEO if he likes your post, and with enough downvotes you get autobanned. You can imagine what kind of a community this creates. Negative posts of any kind get you banned and the threads removed by admins immediately. Next we have their pool system. They have their own pool (Zenpool) that always seemed to have the best payout, yet no explanation of how it is remotely possible. It doesn’t take a think tank to imagine how easy it would be to sell your propriety mining pool as a higher buy in, subsidize the difference in rates out of pocket to secure purchases and then do whatever you want with the money. Zenpool and cloud hashing contracts are the most incredibly perfect setup for a Ponzi scheme you could ever create, and people continue to buy despite the utter lack of transparency, explanation, or established reputation that would make this seem credible. Imagine this, give me 20 dollars today and I’ll give you 1.2 cents a day (minus maintenance) instead of the 1.1 cent you would get elsewhere. Sure sounds like a cost effective way to raise a bunch of money fast. If GAW disappeared tomorrow with everyone’s money it would in hindsight seem like the most obvious thing in the world. I am not saying that it is a Ponzi scheme, just that JESUS CHRIST does it look like one with no effort to prove itself otherwise. Even if it’s not a Ponzi scheme this sure does seem like it could be one of those Butterfly labs situations where a lot of personal stuff (e.g. private jets) gets charged to company cards until they go bankrupt. Finally we have “Hash Coin” – there are so many things wrong with this it’s hard to summarize. You can read their QA here. But in short they’re launching an ICO that, in their words: “will go “public” for just over $20 a coin.” According to “analysts and banks”. And that “there will be a “bank” that will manage, to some degree, the valuation of Hashcoin” However of course you cannot know who these bankers or analysts are as: “The identities of both the analysts and banks will be released once the ICO has completed and the merchant marketplace established in the near future.” And this magic coin will have a market cap of 5Billion (!!). For quick reference Bitcoin sits at roughly 4.4. I am sure there is a debate all on its own for the ICO, but it betrays such a huge misunderstanding of some of the fundamentals of this space all it does is create more red flags for me. Somewhere there is a whitepaper that is “done” but instead of releasing it for community review and feedback they’ve plowed ahead with some crazy bankeanalyst backed offering in which everyone – especially you – can make boatloads of money. This ICO deserves a post on it’s own, but given that it’s launching tonight there should be plenty on entertainment there for later. Again, their quote "A white paper will not answer ICO questions. That is what is more important." In short: They’re running a system with constantly promised returns that has done anything but that. They’re running what could easily be a textbook Ponzi scheme on a huge scale with zero transparency. They’re issuing their own currency that “analysts” and “banks” have assured them will be worth giant multiples of what you will be able to buy it for, and have a market cap of 5,000,000,000 USD. I'm all for people trying wild and crazy (and big) ideas in the space, but another GOX (Butterfly Labs, etc.) is not what we need. If GAW is a legitimate well run organization then the community should ask for more transparency and information before giving them any more money. And finally, there’s this post. (*update, they took down the image but someone sent me a screenshot they took.) They literally have post praising themselves for taking money from a man who has a sick family and mounting medical bills for a product that will likely never (ever) return to him what he paid for it. And the image they have chosen for this post - well, it's of the CEO and community manager in a private jet. (** update 2, I was contacted by someone who claims to own the site and says it's not affiliated with GAW. So, fair enough for a disclaimer. They are however still doing these things even if it's a repost of theirs, so point still stands.) TL;DR Everyone gives GAW money despite the fact that they are too busy flying on private jets to answer your support emails or explain how their definitely-not-a-ponzi-scheme operation works exactly. But hey, let's all go buy some Hash Coin* which is totally better than Bitcoin! (*whitepaper pending) (edit: formatting) Update: "Whitepaper" draft is out for hashcoin, and it's hilarious. We're 20 days out from their ICO and they haven't released anything for the community to review or comment on, and if this is the direction they're going it's going to be quite the ride. Update 2: It's been mentioned a number of times here, but worth noting for anyone even remotely looking at the hashlets and their "guaranteed profitability" that maintenance fees are 80% of earnings at this point. The break even point for all products is never given any kind of difficulty increase and multiple years assuming none. I cannot say I understand how GAW calculates profitability, but doesn't seem to be the way I do. Update 3: And a couple more to underscore the point. From their own terms of service: "Hashlets are virtual service units related to mining services, but are not mining hardware." Hashlets are not real, might not have anything to do with hardware! "11. Termination and Modifications. a. Services may be terminated by us, without cause, at any time." And, GAW can simply cancel the service at any time and keep your money! Update 4: Link to the SEC site to report suspicious activity: https://denebleo.sec.gov/TCRExternal/questionaire.xhtml Update 5: CoinFire publishes story on possible dishonesty on the part of GAW with regards to partners, gets hacked. Thread with more information here: http://www.reddit.com/Bitcoin/comments/2n7c9coinfire_publishes_article_with_details_about_gaw/
TLDR: Google Hangout Training for sexworkers and newbs at 5pm. hangout link or youtube viewonly First thanks the Reddit community at large for the huge contribution in the making the materials we provide better. Those that have been following, know that we have done a series of workshops, both in person and online. Here is a link to prevous post We are going to start doing regular video conferences for newbs to join in and ask questions. Focus will be on how to get bitcoin and not so much what it is, though there will be plenty of knowledgable people to answer any question you may have. If you are a bitcoin veteran these talks may be a little bit on the basic side, but feel free to join in and make suggestions. Our current project is completely built upon peer reviewed information for best practices. Much of the slides are from direct input from Reddit. also you may join the facebook event if you want: FB Event This our first open house where the people of reddit can join in. I hope this becomes a regular thing. Please contribute to the chat, we will review the logs for questions, if we can’t address specific stuff on video we may address it later in future talks or a reply in this post This project started off to help fill a need as posted from several sex worker friends when backpage lost their payment processor. No doubt it will grow into a larger project as these tools can help a lot of people. I have been giving bitcoin intro talks for a few years, and I can honestly say sex workers use bitcoin differently then average folk so you will see slight differences in the info provided compared to past talks I have done. But in all universally applicable no matter who you are. You can see a copy of our guide and presentation (please send us as much feedback as you want) here: The Quickstart guide Tony's Current Presentation On Bitcoin 101 Kate's Presentation for Sex-Workers-Only Session Tony's Old Presentation Most Notably we separated out the 2fa while extremely important needed to be a separate talk. We found this demographic logistically had different needs. We will follow up later more details as to why. 2fa Presentation Description direct from our FB event: Our third online training with Bitcoin for under-banked and sexworkers will be taking place this Sunday at 5pm &2pm EST. This training, by Tony Rosano and Kate Zen, with help from Akio of Maggie's Toronto Sex Workers Action Project, will focus on particular uses of Bitcoin and data protection techniques for different sectors of the sex trade. First session (2pm EST) is open only by invitation or network to sex workers and confirmed friends. To register, send a private message to Kate Zen or Tony Rosano to be invited to the private group. We are seeking your questions and feedback as we continue to improve this training, focusing on practical applications for workers in sex trades. Second session (5pm EST) is open to members on Reddit and general interest, and will not include specific practices for sex workers. This will be primarily led by Tony Rosano. Both sex workers and non-sex workers are on the invitation list for this facebook page, so that nobody is outed. Please feel free to invite others in your networks. 5pm event link: https://www.facebook.com/events/1108173515877628/ We are coming together as a working group of sex workers and allies from across the U.S. and Canada to create outreach and tech alternatives in financial services for the underbanked, including sex workers, migrant workers with remittances, people without access to credit, people stuck in banking or legal loopholes, women/minorities working in oppressive countries. "Sub Rosa" - Latin phrase meaning "under the rose"; used in English to denote secrecy or confidentiality, similar to the Chatham House Rule. The rose as a symbol of secrecy has an ancient history. In sex worker vernacular, it means bread, dough, peso, fiat for the informal sector. In the words of early 20th Century feminist, garment worker organizer, Rose Schneiderman: "We want bread, but we want roses, too." Facebook Page: https://www.facebook.com/subrosatech Website (coming soon): http://www.subrosatech.org/ Kate Zen and Akio Maroon are activists affiliated with Maggie's and Butterfly in Toronto. Kate is a dominatrix and researcher, with a background in immigrant labor organizing and web development; she recently completed the Data Privacy Trainer track with the Gender Tech Institute (GTI) of Tactical Tech in Berlin, and has previously worked for NSWP, Red Umbrella Project, and Streetwise and Safe. Akio is the Chair of Maggie's, an occupational health and safety consultant, and an outspoken community leader in fighting carding and police racial profiling in Toronto. An international human rights activist, Akio supports migrant workers and racialized people who are transitioning to full employment after exiting the prison system, by employing and supporting the professional development of marginalized workers at the Toronto Childcare Collective. Tony Rosano is a software and electronics engineer by profession, who is interested in consensus algorithms, such as bitcoin. He often gives talks about decentralized and peer2peer technologies for disrupting unjust and inefficient systems of centralized banking and financial dominance/governance.
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/onv0r0fbnh821.jpg?width=748&format=pjpg&auto=webp&s=0818ee47c078973328f19f38ecd8d0c8f8d151a2 Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/wjszeffllh821.jpg?width=748&format=pjpg&auto=webp&s=e52c389bac56953ca207fddba16093f742fd8be5 Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/feqn1aiujh821.jpg?width=748&format=pjpg&auto=webp&s=b6f76ae3c817e68ba2a9806f42a849687c292351 Step-by-Step Guide:
Minted our first bitcoin this morning! Took about 18 hours (Butterfly Labs Mini Rig SC 500 GH/s)
http://i.imgur.com/LvDPIjY.png We're using the Butterfly Labs 500 GH/s Mini Rig. Might as well do a small review -- the hardware itself is temperamental. For example, ours showed up with the unresponsive Nexus tablet on the front panel. Dealing with Butterfly is a total shit sandwich given the rip-and-run state of the overall business, so I had to figure out how to bypass the internal routing and have a laptop be the brains of the operation. After a couple of days of messing with usb drivers, which refused to stand up on Windows 7, I finally got the laptop to recognize all 8 modules. However, I could not start mining due to an error starting the bfg miner task from the inside of their Easy Miner application. I tried to force bfg via the command line, and it finally worked, although the hash rate was atrocious. Another day or so, and I had the rig mining. The hardware recognition issue was due to me not giving the laptop enough time to kick ALL modules on. It takes a good 2-3 minutes for all usb notifications to stop bleep-blooping. The hash rate was in the 470 GH/s area, which was perfect, but then the modules started to shut themselves off due to overheating at 83 C. The log would show how the unit was taking down hot modules and then kicking them back on non-stop. The ambient temp in the room is around 75. I played with positioning, fan speeds, to no avail. The hash rate at that point dropped into the 400s, and my 15 amp circuit breakers started to get tripped. This went on for a little, and then I permanently blew one of them and had to pick some up at the Home Depot. But hey, it only took a single trip :) So then I got a 5200 BTU A/C unit, mounted it in the window, and positioned the rig in front of it. That seemed to fix the breaker-tripping and overheating issues. It runs at low 70s C during the day and low 60s C at night. I am now making custom funnels out of thermal foam board to vent exhaust heat outside and also connect the 11" AC opening to the 16"x16" intake area of the rig (looks something like this). The unit generates a lot of heat, no joke. I bet when the weather gets colder, it can serve as a furnace for this side of the house. If you're wondering why I'm talking about it still not being cold outside in November, I'm in Texas. It's really beautiful right now, high of 75 and sunny. Also, the noise ... how could I forget about the noise. It sounds like a server room. There's 18 fans, plus PSU fans, and they are quite loud. Don't expect to inconspicuously set this rig in the corner of your living room. It's been on for over 24 hours now, uninterrupted. To the moon! Timestamp,Core Temp,AC ON/OFF,Total Mined (BTC) 11/1/2013 12:00 PM,80 C,OFF,0.00 11/3/2013 3:30 PM,73 C,OFF,1.78 11/4/2013 2:05 PM,75 C,ON,2.28 11/5/2013 11:00 AM,75 C,ON,2.74 11/6/2013 5:00 PM,70 C,OFF,3.18 11/7/2013 12:00 PM,79 C,OFF,3.53 11/8/2013 5:00 PM,70 C,OFF,4.03 11/13/2013 11:00 PM,68 C,OFF,6.01 11/18/2013 5:00 PM,78 C,OFF,7.69 11/23/2013 11:00 AM,66 C,OFF,9.21 11/26/2013 8:00 PM, 62 C,OFF,10.41
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/o3xfmq1kba421.jpg?width=748&format=pjpg&auto=webp&s=f080196f70c6f1733ea76121bf03b630bca0d8dd Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/n9bqot5cja421.jpg?width=748&format=pjpg&auto=webp&s=9269242a837e8e0fd4b977218752af6c2049050e Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/2nyfbgfyba421.jpg?width=748&format=pjpg&auto=webp&s=f82469f96b606c7b50aafad3124c2f26cf56b11f Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/ewuts2xbkx321.jpg?width=748&format=pjpg&auto=webp&s=51921042aad25afd40c91aa726b94dc08d626ace Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/y9ghzsemda421.jpg?width=748&format=pjpg&auto=webp&s=b4974b79e50baadc2a5031043cd8d21489efe05f Step-by-Step Guide:
idap.io is an International Digital Asset Platform, which aims to provide a complete Derivatives Ecosystem for Crypto Assets, offering Futures, calendar & butterfly spreads, options, and swaps among major trading products. idap.io exchange also supports spot trading, P2P lending and ETFs. Additionally, it is providing an ICO venture fund with a focus on retail investors. idap.io platform provides a Point-and-Click Ladder based Trading Interface through its Desktop Application. Its simulator tool aids beginners in learning futures trading. IDAP token holders will get 50% discount in trading and management fees if paid in IDAP tokens. https://preview.redd.it/murfnfsc5w321.jpg?width=748&format=pjpg&auto=webp&s=3a918f076e1e0869ae8932844b10fbb083850868 Step-by-Step Guide:
EDIT: Everyone, I totally f'd up on GPU's that I would have by end of June. I just wrote a quick VBS script that shows I'll only have 22 (15+7) by end of June. Not too shabby, but definitely not 48. Just wanted to post an update. Feel free to use the script! So I've posted here a few times in the past. Now I'll detail what I'm doing a little further and try to help others. Right now I'm working with 5x 7950's, 3x 7850's, a 6750, and 3x GTX 580's (my gaming rig). My hash rate is about 4,500 MH/s. I started this project using the DRIP (http://en.wikipedia.org/wiki/Dividend_reinvestment_plan) principles in mind. I call this MRIP (Mining Reinvestment Plan). The plan is to reinvest all bitcoins mined into more mining hardware. Today I just purchased two more 7950's that are due to arrive tomorrow. Note that these two cards were purchased with bitcoins that were mined. This should bring my hash rate up to about 5660 MH/s, which will let me purchase another card next monday. The plan is every time I have enough to buy another card, I withdraw the bitcoins and convert it into cash. At this rate I'm hoping to have about 48 additional 7950 cards by the end of June or about 33,000 MH/s (33GH/s). To those I haven't gotten back with about hardware that I'm ordering, I do apologize. I'm using ported 7950's. I STRESS ported cards (ported on top, other on bottom) because they throw the heat out of the chassis. When clustering 12 cases together (4x12=48 cards) it's not ideal to "just leave the side off and hope it's cool it enough". These cases will be slammed up against each other. Going to back to hardware, I still haven't decided on a locked feature set - meaning I don't know what I'm going to buy (mobo, ram, cpu, psu, etc). Ideally I want to keep the core system down to about $70/PCI-e slot, but I have to factor in space (hashing density too). I say this because hardware pricing is always changing, but I want to lock the specs down eventually because it'll be easy to administer. Having 12 like systems will be easier to deploy than 12 totally different systems (all I have to do is image them). Being a net/sys admin I'll probably administer them with a PXE boot image (which I plan on making that publicly available along with the system specs). Anyways I apologize about that. I run an IT consulting company on the side and thus I have A CRAP LOAD of old machines with a working PCI-e slot (or two or three). I'll be using these up and then will start building out a system. Going back to mining, I'm not sure what ASIC's have in store for us. The difficulty could rise so much that by end of June I only have 4 more GPUs instead of 48. My hope is that the difficulty will not go up that high as ASIC's are still very hard to come by and really don't make a good investment case right now (or then). Looking at the difficulty graphs, TH/s seem to be leveling off in the near future - but only time will tell! Let me know if this helps! FYI I have put $0 into this so far, as I've been using old hand-me-down GPU's... Edit: You all are more than welcome to check out my mining stats! UltraSPARC_1 = 4x 7950's UltraSPARC_2 = 1x 7950 UltraSPARC_3 = 6750 UltraSPARC_4/5/7 = 7850 UltraSPARC_6 = 3x GTX 580 UltraSPARC_8 = 2x 7950 EDIT 2: A lot of you have mentioned why not buy an ASIC or aren't you afraid the difficulty will skyrocket?! I just don't see that happening soon, and this post makes my case quite nicely. They're even assuming that Butterfly Labs will start shipping in quantity lol Edit 3: UltraSPARC_8 is online! Two more 7950's, woohoo! I'll post some pictures soon. Pictures! YAY! For reference please see HERE
Bitcoin-mining company Butterfly Labs shut down by FTC. Company marketed specialized computers designed to produce the cryptocurrency but delivered useless machines, according to an FTC complaint. Find helpful customer reviews and review ratings for Butterfly Labs Jalapeno BitForce 5 GH/s SC Bitcoin Miner at Amazon.com. Read honest and unbiased product reviews from our users. Bitcoin and Butterfly Labs: What smelled like a rat apparently was. David Gewirtz tells the story of why he almost bought, but didn't and how the math worked in favor of the scammers. As I write this review, the same manufacturer is offering an 800 GH/s Bitcoin Miner for $376, so I can't imagine why anyone would be willing to pay much money for this slower than treacle paperweight. At $19.95 it would be an interesting toy for those curious about crypto-currency, other than that, search Amazon for "Butterfly Labs" to see much better choices. For those who are suffering ... Mobile Bitcoin wallets are apps available on mobile phones and they are more secure than having an online wallet. A feature such as QA code scanning is pretty useful. It stores the private keys of the user and allows direct payments from the phone. It is so simple that the user can simply tap the phone against the terminal but without the need to give any kind of personal information, which ...